Document:

EX-10.5

 Exhibit 10.5 

EXECUTION VERSION 
  

 
  

SECURITY AGREEMENT 
 dated as of

 April 13, 2017, 
 among 

INSTALLED BUILDING PRODUCTS, INC., 

THE OTHER GRANTORS PARTY HERETO, 

and 
 SUNTRUST BANK, 

as Administrative Agent 
  

 
  

 TABLE OF CONTENTS 

ARTICLE I 
 DEFINITIONS 

 

							
	 SECTION 1.01.
	 	Defined Terms	  	 	1	 
	 SECTION 1.02.
	 	Other Defined Terms	  	 	1	 
		
	ARTICLE II	  			
		
	PLEDGE OF SECURITIES	  			
			
	 SECTION 2.01.
	 	Pledge	  	 	6	 
	 SECTION 2.02.
	 	Delivery of the Pledged Collateral	  	 	6	 
	 SECTION 2.03.
	 	Representations, Warranties and Covenants	  	 	7	 
	 SECTION 2.04.
	 	Registration in Nominee Name; Denominations	  	 	8	 
	 SECTION 2.05.
	 	Voting Rights; Dividends and Interest	  	 	9	 
	 SECTION 2.06.
	 	Article 8 Opt-In	  	 	11	 
		
	ARTICLE III	  			
		
	SECURITY INTERESTS IN PERSONAL PROPERTY	  			
			
	 SECTION 3.01.
	 	Security Interest	  	 	11	 
	 SECTION 3.02.
	 	Representations and Warranties	  	 	13	 
	 SECTION 3.03.
	 	Covenants	  	 	16	 
	 SECTION 3.04.
	 	Other Actions	  	 	17	 
	 SECTION 3.05.
	 	Covenants Regarding Patent, Trademark and Copyright Collateral	  	 	18	 
		
	ARTICLE IV	  			
		
	REMEDIES	  			
			
	 SECTION 4.01.
	 	Remedies upon Default	  	 	19	 
	 SECTION 4.02.
	 	Application of Proceeds	  	 	21	 
	 SECTION 4.03.
	 	Securities Act	  	 	21	 
	 SECTION 4.04.
	 	Grant of License to Use Intellectual Property	  	 	22	 
		
	ARTICLE V	  			
		
	MISCELLANEOUS	  			
			
	 SECTION 5.01.
	 	Notices	  	 	22	 
	 SECTION 5.02.
	 	Waivers; Amendment	  	 	23	 
	 SECTION 5.03.
	 	Administrative Agent’s Fees and Expenses; Indemnification	  	 	23	 
	 SECTION 5.04.
	 	Successors and Assigns	  	 	23	 
	 SECTION 5.05.
	 	Survival of Agreement	  	 	23	 

  
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	 SECTION 5.06.
	 	Counterparts; Effectiveness; Several Agreement	  	 	24	 
	 SECTION 5.07.
	 	Severability	  	 	24	 
	 SECTION 5.08.
	 	Right of Set-off	  	 	24	 
	 SECTION 5.09.
	 	Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process Agent	  	 	24	 
	 SECTION 5.10.
	 	WAIVER OF JURY TRIAL	  	 	25	 
	 SECTION 5.11.
	 	Headings	  	 	26	 
	 SECTION 5.12.
	 	Security Interest Absolute	  	 	26	 
	 SECTION 5.13.
	 	[Reserved]	  	 	26	 
	 SECTION 5.14.
	 	Additional Subsidiaries	  	 	26	 
	 SECTION 5.15.
	 	Administrative Agent Appointed Attorney-in-Fact	  	 	26	 
	 SECTION 5.16.
	 	Intercreditor Agreement Governs	  	 	27	 
	 SECTION 5.17.
	 	Delivery of Term Loan First Lien Collateral	  	 	27	 
	 SECTION 5.18.
	 	No Liability	  	 	28	 
	 SECTION 5.19.
	 	Compromises and Collection of Collateral	  	 	28	 

  
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	Schedules
		
	Schedule I	  	Grantors
	Schedule II	  	Pledged Equity Interests; Pledged Debt Securities
	Schedule III	  	Intellectual Property
	Schedule IV	  	Commercial Tort Claims
	
	Exhibits
		
	Exhibit I	  	Form of ABL Copyright Security Agreement
	Exhibit II	  	Form of ABL Patent Security Agreement
	Exhibit III	  	Form of ABL Trademark Security Agreement

  
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 SECURITY AGREEMENT dated as of April 13, 2017 (as amended, restated, supplemented or
otherwise modified from time to time, this “Agreement”) among INSTALLED BUILDING PRODUCTS, INC., a Delaware corporation (the “Borrower”), the other GRANTORS from time to time party hereto and SUNTRUST BANK, as
Administrative Agent (in such capacity, the “Administrative Agent”). 
 PRELIMINARY STATEMENTS 

WHEREAS, the Borrower, the Persons party thereto from time to time as Guarantors, the financial institutions party thereto from time to time
as Lenders, and SunTrust Bank, as Administrative Agent are entering into the Credit Agreement dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); and 

WHEREAS, the Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The
obligations of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. The Subsidiary Guarantors are affiliates of the Borrower, will derive substantial benefits from the extension of
credit to the Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, the parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. (a) Each capitalized term used but not defined herein shall have the meaning assigned
thereto in the Credit Agreement; provided that each term defined in the New York UCC (as defined herein) and not defined in this Agreement or the Credit Agreement shall have the meaning specified in the New York UCC. The term
“instrument” shall have the meaning specified in Article 9 of the New York UCC. 
 (b) The rules of construction specified in
Section 1.4 of the Credit Agreement also apply to this Agreement, mutatis mutandis. 
 SECTION 1.02.
Other Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“Account Debtor” means any Person that is or may become obligated to any Grantor under, with respect to or on account of an
Account, Chattel Paper or General Intangible. 
 “Administrative Agent” has the meaning assigned to such term in the
preamble to this Agreement. 
 “After-acquired Debt” has the meaning set forth in the definition of Pledged Collateral.

 “After-acquired Shares” has the meaning set forth in the definition of Pledged
Collateral. 
 “Agreement” has the meaning assigned to such term in the preamble to this Agreement. 

“Article 9 Collateral” has the meaning assigned to such term in Section 3.01.

 “Borrower” has the meaning assigned to such term in the preamble to this Agreement. 

“Collateral” means Article 9 Collateral and Pledged Collateral. 

“Copyright Security Agreement” means the Copyright Security Agreement substantially in the form of Exhibit I hereto.

 “Copyrights” shall mean, with respect to any Grantor, all of such Grantor’s right, title, and interest in and to
the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright applications; (b) all renewals of any of the foregoing; (c) all income, royalties, damages,
and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing; (d) the right to sue for past, present, and future
infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 

“Credit Agreement” has the meaning assigned to such term in the preliminary statements to this Agreement. 

“Discharge of Senior Secured Debt Obligations” has the meaning assigned to such term in the ABL/Term Intercreditor Agreement.

 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability
company, beneficial interests in a trust or other equity ownership interests in a Person. 
 “Excluded Accounts” shall have
the meaning assigned to such term in the Credit Agreement. 
 “Excluded Assets” shall mean (i) any governmental
licenses or state or local franchises, charters or authorizations, to the extent a security interest in any such licenses, franchise, charter or authorization would be prohibited or restricted thereby (including any legally effective prohibition or
restriction), (ii) pledges and security interests prohibited by applicable law, rule or regulation (including any legally effective requirement to obtain the consent of any governmental authority) or any agreement containing anti-assignment
provisions not overridden by the UCC, (iii) margin stock and, to the extent prohibited by the terms of any applicable organizational documents, joint venture agreement or shareholders’ agreement, equity interests in any person other than
wholly-owned restricted subsidiaries, (iv) assets to the extent a security interest in such assets would result in material adverse tax consequences as reasonably 

  
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determined by the Borrower in good faith, (v) any intent-to-use trademark application prior to the filing of a
“Statement of Use” or “Amendment to Allege Use” with respect thereto, (vi) any lease, license or other agreement or any property subject to a purchase money security interest or similar arrangement to the extent that a grant
of a security interest therein would violate or invalidate such lease, license or agreement or purchase money or similar arrangement or create a right of termination in favor of any other party thereto (other than the Borrower or its Subsidiaries)
after giving effect to the applicable anti-assignment provisions of the UCC or other similar applicable law, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the UCC or other similar applicable
law notwithstanding such prohibition, (vii) any Excluded Real Property, (viii) any rolling stock, (ix) Excluded Accounts, (x) Vehicles and other assets subject to certificates of title, and (xi) any assets as to which the
Administrative Agent and the Borrower agree that the costs of obtaining such a security interest or perfection thereof are excessive in relation to the value to the Secured Creditors of the security to be afforded thereby. 

“Excluded CFC” means any Subsidiary that is a “controlled foreign corporation” within the meaning of
Section 957 of the Code. 
 “Excluded Equity Interests” shall mean (a) any of the outstanding voting Equity
Interests or other voting ownership interests of any Excluded CFC or FSHCO in excess of 65% of all the Equity Interests or other voting ownership interests of such Excluded CFC or FSHCO designated as having voting power, (b) any equity or other
voting ownership interests in any Subsidiary that is not a first tier Subsidiary of the Borrower or a Guarantor, (c) any Equity Interests to the extent the pledge thereof would be prohibited or limited by any applicable law, rule or regulation
existing on the date hereof or on the date such Equity Interests are acquired by the Borrower or a Guarantor or on the date the issuer of such Equity Interests is created, (d) the Equity Interests of a Subsidiary (other than a Wholly Owned
Subsidiary) the pledge of which would violate a contractual obligation to the owners of the other Equity Interests of such Subsidiary (other than any such owners that are the Borrower or Affiliates of the Borrower) that is binding on or relating to
such Equity Interests and (e) the Equity Interests of any Unrestricted Subsidiaries. 
 “Federal Securities Laws” has
the meaning assigned to such term in Section 4.03. 
 “FSHCO” means any Subsidiary that is not a
Foreign Subsidiary that owns no material assets other than the capital stock of one or more Subsidiaries that are Excluded CFCs. 

“Grantors” means (a) the Borrower, (b) each other Subsidiary identified on Schedule I
hereto and (c) each Subsidiary that becomes a party to this Agreement as a Grantor on or after the date hereof. 

“Intellectual Property” shall mean, with respect to any Grantor, all intellectual and similar property of every kind and
nature now owned or hereafter acquired by such Grantor, including Patents, Copyrights, Trademarks and all related documentation and registrations and all additions, improvements or accessions to any of the foregoing. 

  
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 “Intercompany Note” means a promissory note substantially in the form of
Exhibit I to the Credit Agreement. 
 “Inventory” shall have the meaning set forth in Article 9 of the UCC and
shall include, without limitation, (a) all goods intended for sale or lease or for display or demonstration, (b) all work in process, and (c) all raw materials and other materials and supplies of every nature and description used or
which might be used in connection with the manufacture, packing, shipping, advertising, selling, leasing or furnishing of goods or services or otherwise used or consumed in the conduct of business. 

“Joinder Supplement” shall have the meaning assigned to such term in the Credit Agreement. 

“Licenses” shall mean, with respect to any Grantor, all of such Grantor’s right, title, and interest in and to
(a) any and all written licensing agreements or similar arrangements in and to its owned (1) Patents, (2) Copyrights, or (3) Trademarks, (b) all income, royalties, damages, claims, and payments now or hereafter due or
payable under and with respect thereto, including, without limitation, damages and payments for past and future breaches thereof, and (c) all rights to sue for past, present, and future breaches thereof. 

“New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Patents” shall mean, with respect to any Grantor, all of such Grantor’s right, title, and interest in and to:
(a) any and all patents and patent applications; (b) all inventions and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments
for past and future infringements thereof; (e) all rights to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world. 

“Patent Security Agreement” means the Patent Security Agreement substantially in the form of Exhibit II hereto. 

“Pledged Collateral” shall mean collectively, (a) all of the Equity Interests of Restricted Subsidiaries that are
Material Subsidiaries (other than Excluded Equity Interests) held by the Grantors, including such Equity Interests described in Schedule 8 in the Information and Collateral Disclosure Certificate issued by the entities named therein and all
other Equity Interests required to be pledged by any Grantor under Section 6.12 of the Credit Agreement (the “After-acquired Shares”) (the “Pledged Equity Securities”) and (b) each
promissory note (including the Intercompany Note), Tangible Chattel Paper and Instrument evidencing Indebtedness in excess of $1,000,000 (individually) owed to any Grantor (other than such promissory notes, Tangible Chattel Paper and Instruments
that are Excluded Assets) described in Schedule 8 in the Information and Collateral Certificate and issued by the entities named therein and all other Indebtedness owed to any Grantor hereafter and required to be pledged by any Grantor
pursuant to Section 6.13 of the Credit Agreement (the “After-acquired Debt”), in each case as such Section may be amended pursuant to Section 10.12 of the Credit Agreement (the
“Pledged Debt Securities”). 

  
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 “Pledged Debt Securities” has the meaning assigned to such term in clause
(b) of the definition of Pledged Collateral. 
 “Pledged Equity Interests” has the meaning assigned to such term in
clause (a) of the definition of Pledged Collateral. 
 “Pledged Securities” means any promissory notes, stock
certificates, unit certificates, limited or unlimited liability membership certificates or other securities (to the extent certificated) now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents
representing or evidencing any Pledged Collateral. 
 “Receivables” shall mean the Accounts, Chattel Paper, Documents,
Investment Property, Instruments and any other rights or claims to receive money that are General Intangibles or that are otherwise included as Collateral. 

“Secured Creditors” means (a) each Lender (for itself and on behalf of any its Affiliates party to a Bank Products
Document), (b) the Administrative Agent (for itself and on behalf of any of its Affiliates party to a Bank Products Document), (c) the Issuing Bank, (d) the Swing Bank, (e) each member of the Lender Group, (f) the beneficiaries of
each indemnification obligation undertaken by any Credit Party under any Loan Document and (g) the permitted successors and assigns of each of the foregoing. 

“Security Interest” has the meaning assigned to such term in Section 3.01(a). 

“Stock Rights” shall mean all dividends, instruments or other distributions and any other right or property which any Grantor
shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any Equity Interest constituting Collateral, any right to receive an Equity Interest constituting Collateral and any
right to receive earnings, in which such Grantor now has or hereafter acquires any right, issued by an issuer of such Equity Interest. 

“Term Credit Agreement” means the Term Loan Credit Agreement dated as of the date hereof, by and among the Borrower, each
lender party thereto and Royal Bank of Canada, as Term Administrative Agent. 
 “Term Loan Documents” means “Loan
Documents” as defined in the Term Credit Agreement. 
 “Term Representative” means initially, Royal Bank of Canada, in
its capacity as Term Administrative Agent under the Term Credit Agreement and the other Term Loan Documents and any other administrative agent, collateral agent or representative of the holders of Secured Obligations (as defined in the Term Credit
Agreement) appointed as a representative for purposes related to the administration of the security documents pursuant to the Term Credit Agreement, in such capacity as provided in the Term Credit Agreement. 

  
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 “Trademark Security Agreement” means the ABL Trademark Security Agreement
substantially in the form of Exhibit III hereto. 
 “Trademarks” shall mean, with respect to any Grantor, all of such
Grantor’s right, title, and interest in and to the following: (a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the
business symbolized by the foregoing; (b) all renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments
for past and future infringements thereof; (d) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (e) all rights
corresponding to any of the foregoing throughout the world. 
 “UCC” shall mean the New York UCC; provided, however, that,
at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Administrative Agent’s and the Secured Creditors’ security interest in any item or portion of the Collateral is governed by the
Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the provisions hereof
relating to such perfection or priority and for purposes of definitions relating to such provisions. 
 “Vehicles” shall
mean all vehicles covered by a certificate to title law of any state and all tires and other appurtenances to any of the foregoing. 

ARTICLE II 
 Pledge of
Securities 
 SECTION 2.01. Pledge. As security for the payment or performance, as the case may be, in full of the Obligations,
each Grantor hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the benefit of the Secured Creditors, a security interest in all of its right, title and interest in, to and under all of the Pledged Collateral. 

Notwithstanding the foregoing or anything herein to the contrary, in no event shall the “Pledged Collateral” include or the security
interest attach to any Excluded Assets or Excluded Equity Interests. 
 SECTION 2.02. Delivery of the Pledged Collateral. 

(a) Subject to the ABL/Term Intercreditor Agreement, each Grantor will promptly deliver to the Administrative Agent (or its non-fiduciary agent or designee) upon execution of this Agreement all certificates, now or hereafter acquired, if any, representing or evidencing the Pledged Collateral to the extent such certificates constitute
certificated securities (other than checks received in the ordinary course of business), together with duly executed instruments of transfer or assignments in blank. 

  
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 (b) Except as otherwise addressed in Section 3.03(b) herein, if any amount payable with
respect to any Indebtedness owed to any Grantor shall be or become evidenced by any promissory note (which may be a global note), such note or instrument shall be promptly delivered (but in any event within 45 days of receipt (other than any
promissory note in an aggregate principal amount of less than $1,000,000 owed to the applicable Grantor by any Person) by such Grantor or such longer period as the Administrative Agent may agree in its reasonable discretion) to the Administrative
Agent, for the benefit of the Secured Creditors, together with an undated instrument of transfer duly executed in blank and in a manner reasonably satisfactory to the Administrative Agent. 

(c) Upon delivery to the Administrative Agent, (i) any certificate or promissory note representing Pledged Securities shall be accompanied
by undated stock or note powers, as applicable, duly executed in blank or other undated instruments of transfer duly executed in blank and reasonably satisfactory to the Administrative Agent and by such other instruments and documents as the
Administrative Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral shall be accompanied by undated proper instruments of assignment duly executed in blank by the applicable Grantor and such other
instruments and documents as the Administrative Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule describing such Pledged Securities, which schedule shall be deemed attached to, and shall
supplement, Schedule II hereto and be made a part hereof; provided, that failure to provide any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement
any prior schedules so delivered. 
 SECTION 2.03. Representations, Warranties and Covenants. The Grantors jointly and severally
represent, warrant and covenant to and with the Administrative Agent, for the benefit of the Secured Creditors, that: 
 (a) as of the date
hereof, Schedule II hereto sets forth a true and complete list, with respect to each Grantor, of all the Pledged Equity Interests owned by such Grantor in any Subsidiary and the percentage of the issued and outstanding units of each class of
the Equity Interests of the issuer thereof represented by the Pledged Equity Interests owned by such Grantor and all the Pledged Debt Securities owned by such Grantor; 

(b) the Pledged Equity Interests and the Pledged Debt Securities have been duly and validly authorized and issued by the issuers thereof and
(i) in the case of Pledged Equity Interests, are fully paid and, in the case of corporate interests, nonassessable and (ii) in the case of Pledged Debt Securities, are legal, valid and binding obligations of the issuers thereof, except to
the extent that enforceability of such obligations may be limited by applicable bankruptcy, insolvency, and other similar laws affecting creditor’s rights generally; provided that the foregoing representations, insofar as they relate to
the Pledged Collateral issued by a Person other than the Borrower or any Subsidiary, are made to the knowledge of the Grantors; 
 (c) except
for the security interests granted hereunder and under any other Loan Documents, each of the Grantors (i) is and, subject to any transfers made in compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of
record, of the Pledged Securities indicated on Schedule II hereto as owned by such Grantor, (ii) holds the same free and clear of all Liens, other than Liens permitted pursuant to Section 7.2 of the Credit
Agreement and transfers made in compliance with the Credit Agreement, (iii) will make no 

  
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further assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Collateral, other than Liens permitted pursuant to
Section 7.2 of the Credit Agreement and transfers made in compliance with the Credit Agreement, and (iv) will use commercially reasonable efforts to defend its title or interest thereto or therein against any and all
Liens (other than the Liens created by this Agreement and the other Loan Documents and Liens permitted pursuant to Section 7.2 of the Credit Agreement), however arising, of all Persons whomsoever; 

(d) except for restrictions and limitations imposed by or otherwise permitted by the Loan Documents (including pursuant to the Term Loan
Documents and any Liens permitted pursuant to Section 7.2 of the Credit Agreement) or securities laws generally, the Pledged Equity Interests and, to the extent issued by the Borrower or any Subsidiary, the Pledged Debt
Securities are and will continue to be freely transferable and assignable, and none of the Pledged Equity Interests and, to the extent issued by the Borrower or any Subsidiary, none of the Pledged Debt Securities are or will be subject to any
option, right of first refusal, shareholders agreement or Organizational Document provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect in any manner adverse to the Secured Creditors in any
material respect the pledge of such Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Administrative Agent of rights and remedies hereunder; 

(e) each of the Grantors has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the manner hereby done or
contemplated; 
 (f) by virtue of the execution and delivery by the Grantors of this Agreement, when any Pledged Securities constituting
certificated securities are delivered to the Administrative Agent in accordance with this Agreement, the Administrative Agent will obtain a legal, valid and perfected lien upon and security interest in such Pledged Securities, free of any adverse
claims, under the New York UCC to the extent such lien and security interest may be created and perfected under the New York UCC, as security for the payment and performance of the Obligations; and 

(g) subject to the terms of this Agreement and to the extent permitted by applicable law, each Grantor hereby agrees that upon the occurrence
and during the continuance of an Event of Default, it will comply with the instructions of the Administrative Agent with respect to the Equity Interests in such Grantor that constitute Pledged Equity Interests hereunder that are not certificated
without further consent by the applicable owner or holder of such Equity Interests. 
 SECTION 2.04. Registration in Nominee Name;
Denominations. If an Event of Default shall have occurred and is continuing and the Administrative Agent shall have notified the Grantors in writing of its intent to exercise such rights, the Administrative Agent, on behalf of the Secured
Creditors, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent or in its own name as pledgee or in the
name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Administrative Agent copies of any notices or other communications received by it with respect to Pledged Securities

  
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registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent shall at all times have the right to exchange the
certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement. 

SECTION 2.05. Voting Rights; Dividends and Interest. (a) Unless and until an Event of Default shall have occurred and is
continuing and the Administrative Agent shall have notified the Grantors in writing that their rights under this Section 2.05 are being suspended: 

(i) each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner
of Pledged Securities or any part thereof; 
 (ii) the Administrative Agent shall promptly execute and deliver to each
Grantor, or cause to be promptly executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or
consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section; and 
 (iii) each
Grantor shall be entitled to receive and retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest,
principal and other distributions are permitted by, and are otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws; provided that any noncash dividends,
interest, principal or other distributions that would constitute Pledged Equity Interests or Pledged Debt Securities, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests in the issuer of any
Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise,
shall be and become part of the Pledged Collateral and, if received by any Grantor, shall be forthwith delivered to the Administrative Agent in the same form as so received (with any necessary endorsements, stock or note powers and other instruments
of transfer reasonably requested by the Administrative Agent), in each case, to the extent required pursuant to Section 2.02 or Section 2.06. So long as no Event of Default has occurred and is
continuing, the Administrative Agent shall promptly deliver to each Grantor any Pledged Securities in its possession if requested to be delivered to the issuer thereof in connection with any exchange or redemption of such Pledged Securities
permitted by the Credit Agreement in accordance with this Section 2.05(a)(iii), subject to receipt by the Administrative Agent of a certificate of a Responsible Officer of the Borrower with respect thereto and other
documents reasonably requested by the Administrative Agent. 
 (b) Upon the occurrence and during the continuance of an Event of Default,
after the Administrative Agent shall have notified the Grantors, as applicable, of the suspension of their rights under paragraph (a)(iii) of this Section 2.05, all rights of any Grantor to dividends, interest, principal or
other distributions that such Grantor is authorized to receive pursuant to 

  
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paragraph (a)(iii) of this Section 2.05 shall cease, and all such rights shall thereupon become vested in the Administrative Agent, which shall have the sole and
exclusive right and authority to receive and retain such dividends, interest, principal or other distributions; provided that, to the extent directed by the Required Lenders, the Administrative Agent shall have the right from time to time
following the occurrence and during the continuance of an Event of Default to permit the Grantors to exercise such rights. All dividends, interest, principal or other distributions received by any Grantor contrary to the provisions of this
Section 2.05 shall be held for the benefit of the Administrative Agent and the other Secured Creditors and shall be forthwith delivered to the Administrative Agent upon demand in the same form as so received (with any
necessary endorsements, stock or note powers and other instruments of transfer reasonably requested by the Administrative Agent). Any and all money and other property paid over to or received by the Administrative Agent pursuant to the provisions of
this paragraph (b) shall be retained by the Administrative Agent in an account to be established by the Administrative Agent upon receipt of such money or other property and, to the extent so received, shall, subject to any applicable
Intercreditor Agreement, be applied in accordance with the provisions of Section 4.02. After all Events of Default have been cured or waived and the Borrower has delivered to the Administrative Agent a certificate of a
Responsible Officer of the Borrower to that effect, the Administrative Agent shall promptly repay to each Grantor (without interest) all dividends, interest, principal or other distributions that such Grantor would otherwise be permitted to retain
pursuant to the terms of paragraph (a)(iii) of this Section 2.05 and that remain in such account. 
 (c) Upon the
occurrence and during the continuance of an Event of Default, after the Administrative Agent shall have notified the Grantors of the suspension of their rights under paragraph (a)(i) of this Section 2.05, all rights of any
Grantor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 2.05, and the obligations of the Administrative Agent under paragraph (a)(ii)
of this Section 2.05, shall cease, and all such rights shall thereupon become vested in the Administrative Agent, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and
powers; provided that, prior to the Administrative Agent exercising such voting and consensual rights and powers, the Administrative Agent shall notify the Grantors in writing of its intention to exercise any such right on behalf of the
Secured Creditors; provided further that, unless otherwise directed by the Required Lenders, the Administrative Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to
exercise such rights. After all Events of Default have been cured or waived and the Borrower has delivered to the Administrative Agent a certificate of a Responsible Officer of the Borrower to that effect, all rights vested in the Administrative
Agent pursuant to this paragraph (c) shall cease, and the Grantors shall have the exclusive right to exercise the voting and consensual rights and powers they would otherwise be entitled to exercise pursuant to paragraph (a)(i) of this
Section 2.05. 
 (d) Any notice given by the Administrative Agent to the Grantors, suspending their rights under
paragraph (a) of this Section 2.05 (i) may be given by telephone if promptly confirmed in writing, (ii) may be given with respect to one or more of the Grantors at the same or different times and (iii) may
suspend the rights of the Grantors under paragraph (a)(i) or paragraph (a)(iii) in part without suspending all such rights (as specified by the Administrative Agent in its sole and absolute discretion) and without waiving or otherwise affecting the
Administrative Agent’s rights to give additional notices from time to time suspending other rights; provided that the Administrative Agent shall only provide any such notice if an Event of Default has occurred and is continuing. 

  
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 SECTION 2.06. Article 8 Opt-In. No Grantor shall
take any action to cause any membership interest, partnership interest, or other equity interest of any limited liability company or limited partnership owned or controlled by any Grantor comprising Collateral to be or become a “security”
within the meaning of, or to be governed by Article 8 of the UCC as in effect under the laws of any state having jurisdiction and shall not cause or permit any such limited liability company or limited partnership to “opt in” or to take
any other action seeking to establish any membership interest, partnership interest or other equity interest of such limited liability company or limited partnership comprising the Collateral as a “security” or to become a certificated
security, in each case, without delivering all certificates evidencing such interest to the Administrative Agent in accordance with and as required by Section 2.02 or, in the case of any uncertificated security, without
taking such steps, to the extent requested by the Administrative Agent (following notice to the Administrative Agent of any such change, which shall be promptly provided by such Grantor), to provide the Administrative Agent with control (as defined
in Article 8-106 of the UCC) of any such security. 
 ARTICLE III 

Security Interests in Personal Property 

SECTION 3.01. Security Interest. (a) As security for the payment or performance, as the case may be, in full of the Obligations,
each Grantor hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the benefit of the Secured Creditors, a security interest (the “Security Interest”) in all of its right, title and interest in, to and
under all of the following property and other assets, whether now owned by or owing to, or hereafter acquired by or arising in favor of, such Grantor, and regardless of where located (all of which are collectively referred to as the “Article
9 Collateral”): 
 (i) all Accounts; 

(ii) all Chattel Paper (including Electronic Chattel Paper and Tangible Chattel Paper); 

(iii) all Intellectual Property; 

(iv) all Documents; 

(v) all Equipment; 

(vi) all Fixtures; 

(vii) all General Intangibles; 

(viii) all Goods; 

(ix) all Instruments; 

  
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 (x) all Inventory; 

(xi) all Investment Property; 

(xii) all Letter-of-Credit Rights and
Supporting Obligations; 
 (xiii) all Deposit Accounts; 

(xiv) [Reserved]; 

(xv) all Commercial Tort Claims as specified from time to time in Schedule IV hereto (as the same may be updated from
time to time in accordance with the terms hereof); 
 (xvi) all cash or other property deposited with the Administrative
Agent or any Secured Creditor or any Affiliate of the Administrative Agent or any Secured Creditor or which the Administrative Agent, for its benefit and for the benefit of the other Secured Creditors, or any Secured Creditor or such Affiliate is
entitled to retain or otherwise possess as collateral pursuant to the provisions of this Agreement or the Credit Agreement; 

(xvii) all books, records, files, correspondence, computer programs, tapes, disks and related data processing software which
contain information identifying or pertaining to any of the foregoing or any Account Debtor or showing the amounts thereof or payments thereon or otherwise necessary or helpful in the realization thereon or the collection thereof; 

(xviii) As-Extracted Collateral; and 

(xix) any and all accessions to, substitutions for and replacements, products and cash and
non-cash proceeds (including Stock Rights) of the foregoing (including any claims to any items referred to in this definition and any claims against third parties for loss of, damage to or destruction of any
or all of the Collateral or for proceeds payable under or unearned premiums with respect to policies of insurance) in whatever form, including cash, negotiable instruments and other instruments for the payment of money, Chattel Paper, collateral
agreements and other documents. 
 Notwithstanding the foregoing or anything herein to the contrary, in no event shall the “Article 9
Collateral” include or the Security Interest attach to any Excluded Assets. 
 (b) Each Grantor hereby irrevocably authorizes the
Administrative Agent for the benefit of the Secured Creditors at any time and from time to time to file in any relevant U.S. jurisdiction any financing statements, with respect to the Collateral or any part thereof and amendments thereto that
(i) describe the collateral covered thereby in any manner that the Administrative Agent reasonably determines is necessary or advisable to ensure the perfection of the security interest in the Collateral granted under this Agreement, including
indicating the Collateral as “all assets” of such Grantor or words of similar effect, and (ii) contain the information required by Article 9 of the UCC for the filing of any financing statement or amendment, including whether such
Grantor is an organization, the type of organization and, if required, any organizational identification number issued to such Grantor. Each Grantor agrees to provide such information to the Administrative Agent promptly upon request. 

  
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 The Administrative Agent is further authorized to file with the United States Patent and
Trademark Office or United States Copyright Office (or any successor office), such documents as may be reasonably necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest in Article
9 Collateral consisting of Patents, Trademarks or Copyrights granted by each Grantor and naming any Grantor or the Grantors as debtors and the Administrative Agent as secured creditor. 

(c) The Security Interest and the security interest granted pursuant to Article II are granted as security only and
shall not subject the Administrative Agent or any other Secured Creditor to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral. 

SECTION 3.02. Representations and Warranties. The Grantors jointly and severally represent and warrant to the Administrative Agent, for
the benefit of the Secured Creditors, that: 
 (a) each Grantor has good title or valid leasehold interests in the tangible Article 9
Collateral material to its business with respect to which it has purported to grant a Security Interest hereunder, free and clear of any Liens, (i) except for Liens expressly permitted pursuant to Section 7.2 of the
Credit Agreement and (ii) except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or as proposed to be conducted or to utilize such properties for their intended purposes, in each
case to the extent the failure to have such good title or valid leasehold interest could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and has full power and authority to grant to the Administrative
Agent, for the benefit of the Secured Creditors, the Security Interest in such tangible Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without the consent
or approval of any other Person other than any consent or approval that has been obtained and except to the extent that failure to obtain or make such consent or approval, as the case may be, individually or in aggregate, could not reasonably be
expected to have a Material Adverse Effect; 
 (b) the Information and Collateral Disclosure Certificate has been duly prepared, completed
and executed and the information set forth therein, including the exact legal name and jurisdiction of organization of each Grantor, is correct and complete in all material respects as of the date hereof. The Uniform Commercial Code financing
statements or other appropriate filings, recordings or registrations prepared by the Administrative Agent based upon the information provided to the Administrative Agent in the Information and Collateral Disclosure Certificate for filing in each
governmental, municipal or other office specified in Schedule 1 to the Information and Collateral Disclosure Certificate (or specified by notice from the Borrower to the Administrative Agent after the date hereof in the
case of filings, recordings or registrations required by Section 6.12 of the Credit Agreement), are all the filings, recordings and registrations that are necessary to establish a legal, valid and perfected security
interest in favor of the Administrative Agent, for the benefit of the Secured Creditors, in respect of all 

  
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Article 9 Collateral in which the Security Interest may be perfected by such filing, recording or registration in the United States, and as of the date hereof, no further or subsequent
filing, refiling, recording, rerecording, registration or reregistration (other than filings, if any, which shall be made in the United States Patent and Trademark Office and the United States Copyright Office, as applicable, to record the Security
Interest in Article 9 Collateral consisting of filed, registered or applied-for United States Patents, Trademarks and Copyrights) is necessary, except as provided under applicable law with respect to the
filing of continuation statements (other than such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of filed, registered or applied for Patents, Trademarks and Copyrights filed, acquired
or developed by a Grantor after the date hereof). The Grantors represent and warrant that, if applicable, a fully executed Patent Security Agreement, Trademark Security Agreement and Copyright Security Agreement, in each case containing a list of
the Article 9 Collateral consisting of United States registered Patents, United States registered Trademarks and United States registered Copyrights (and applications for any of the foregoing), as applicable, and executed by each Grantor owning any
such Article 9 Collateral, have been delivered to the Administrative Agent for recording with the United States Patent and Trademark Office or the United States Copyright Office as applicable to establish a legal, valid and perfected security
interest in favor of the Administrative Agent, for the benefit of the Secured Creditors, in respect of all Article 9 Collateral consisting of registered and applied for Patents, Trademarks and Copyrights in which a security interest may be
perfected by filing, recording or registering in the United States Patent and Trademark Office or the United States Copyright Office, as applicable. No further or subsequent filing, refiling, recording, rerecording, registration or reregistration is
necessary (other than filing, recording or registering financing statements or analogous documents in the applicable jurisdictions in the United States pursuant to the Uniform Commercial Code and such other actions as are necessary to perfect the
Security Interest with respect to any Article 9 Collateral consisting of registered and applied for Patents, Trademarks and Copyrights acquired or developed by a Grantor after the date hereof); 

(c) the Security Interest constitutes (i) a legal and valid security interest in all the Article 9 Collateral securing the payment
and performance of the Obligations, (ii) subject to the filings described in paragraph (b) of this Section 3.02 (including payment of applicable fees in connection therewith), a perfected security interest in all
Article 9 Collateral in which a security interest may be perfected by filing, recording or registering a financing statement or analogous document in the applicable jurisdiction in the United States pursuant to the Uniform Commercial Code and
(iii) subject to the filings described in paragraph (b) of this Section 3.02, a perfected security interest in all Article 9 Collateral in which a security interest may be perfected upon the receipt and
recording of a Patent Security Agreement, a Trademark Security Agreement and a Copyright Security Agreement with the United States Patent and Trademark Office and the United States Copyright Office, as applicable. The Security Interest is and shall
be prior to any other Lien on any of the Article 9 Collateral, other than Liens permitted pursuant to Section 7.2 of the Credit Agreement; 

(d) as of the date hereof, Schedule III hereto sets forth a true and complete list, with respect to each Grantor, of (i) all of
such Grantor’s Patents and Trademarks applied for or issued or registered with the United States Patent and Trademark Office, including the name of the registered owner or applicant and the registration, application, or publication number, as
applicable, of each such Patent or Trademark and (ii) all of such Grantor’s Copyrights applied for or registered with the United States Copyright Office, including the name of the registered owner and the registration number of each such
Copyright; and 

  
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 (e) none of the Grantors has filed or consented to (i) the filing of any financing
statement or analogous document, in each case with respect to a Lien, under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral, or (ii) any assignment in which any Grantor assigns any Article 9
Collateral or any security agreement or similar instrument covering any Article 9 Collateral with the United States Patent and Trademark Office or the United States Copyright Office, except, in each case, for Liens expressly permitted pursuant to
Section 7.2 of the Credit Agreement. 
 (f) The names of the obligors, amounts owing, due dates and other
information with respect to each Grantor’s Accounts and Chattel Paper that are Collateral have been correctly stated in all material respects, at the time furnished, in the records of such Grantor relating thereto and in all invoices and each
Borrowing Base Certificate, to the extent contained therein, with respect thereto furnished to the Administrative Agent by such Grantor from time to time. 

(g) With respect to Accounts of the Grantors, except as specifically disclosed on the most recent Borrowing Base Certificate, (i) all such
Accounts represent bona fide sales of Inventory or rendering of services to Account Debtors in the ordinary course of the applicable Grantor’s business and are not evidenced by a judgment (except as would not have a Material Adverse Effect),
Instrument or Chattel Paper; (ii) there are no setoffs, claims or disputes existing or asserted in writing with respect thereto and no Grantor has made any agreement with any Account Debtor for any extension of time for the payment thereof, any
compromise or settlement for less than the full amount thereof, any release of any Account Debtor from liability therefor, or any deduction therefrom except a discount or allowance allowed by a Grantor in the ordinary course of its business for
prompt payment and disclosed to the Administrative Agent, in each case except as would not reasonably be expected to have a Material Adverse Effect; (iii) there are no facts, events or occurrences that in any way impair the validity or
enforceability thereof or could reasonably be expected to reduce the amount payable thereunder as shown on such Grantor’s books and records and any invoices, statements and the most recent Borrowing Base Certificate with respect thereto except
as would not reasonably be expected to have a Material Adverse Effect; (iv) no Grantor has received any notice of proceedings or actions that are threatened or pending against any Account Debtor that might result in any material adverse change
in such Account Debtor’s financial condition except as would not reasonably be expected to have a Material Adverse Effect; and (v) no Grantor has knowledge that any Account Debtor is unable generally to pay its debts as they become due
except as would not reasonably be expected to have a Material Adverse Effect. 
 (h) In addition, with respect to all Accounts of the
Grantors, except as specifically disclosed on the most recent Borrowing Base Certificate, the amounts shown on all invoices, statements and the most recent Borrowing Base Certificate with respect thereto are actually and absolutely owing to a
Grantor as indicated thereon and are not in any way contingent except as would not reasonably be expected to have a Material Adverse Effect. 

  
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 (i) With respect to any Inventory of the Grantors and that is scheduled or listed on the most
recent Borrowing Base Certificate, (i) such Inventory (other than Inventory in transit, out for repair or in the possession of employees and Inventory in an aggregate amount not exceeding $1,000,000) is located at one of the Grantors’
locations set forth in Schedule 2 of the Information and Collateral Disclosure Certificate, (ii) such Inventory is not subject to any licensing, patent, royalty, trademark, trade name or copyright agreement with any third party that, to
such Grantor’s knowledge, would, upon sale or other disposition of such Inventory by the Administrative Agent in accordance with the terms hereof, infringe the rights of such third-party, violate any contract with such third-party, or cause the
Administrative Agent to incur any liability with respect to payment of royalties other than royalties incurred pursuant to sale of such Inventory under the current licensing agreement related thereto in a manner that would reasonably be expected to
have a Material Adverse Effect, (iii) to such Grantor’s knowledge, such Inventory has been produced in accordance with the Federal Fair Labor Standards Act of 1938, as amended, and all rules, regulations and orders thereunder except as
would not reasonably be expected to have a Material Adverse Effect and (iv) to such Grantor’s knowledge, the completion of manufacture, sale or other disposition of such Inventory by the Administrative Agent following an Event of Default
shall not require the consent of any Person and shall not constitute a breach or default under any contract or agreement to which any Grantor is a party or to which such Inventory is subject except as would not reasonably be expected to have a
Material Adverse Effect. 
 SECTION 3.03. Covenants. (a) Each Grantor shall, at its own expense, take any and all commercially
reasonable actions necessary to (i) defend title to the Article 9 Collateral (other than Intellectual Property, which is governed by Section 3.05) against all Persons, except with respect to Article 9 Collateral
that such Grantor determines in its reasonable business judgment is no longer necessary or beneficial to the conduct of such Grantor’s business, and (ii) defend the Security Interest of the Administrative Agent in the Article 9 Collateral
and the priority thereof against any Lien, in each case subject to (x) Liens permitted pursuant to Section 7.2 of the Credit Agreement, (y) transfers made in compliance with the Credit Agreement, and (z) the
rights of such Grantor under Section 9.11(a) of the Credit Agreement and the corresponding provisions of the Security Documents to obtain a release of the Liens created under the Security Documents. 

(b) Each Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and
documents and take all such actions as the Administrative Agent may from time to time reasonably request to obtain, preserve, protect and perfect the Security Interest and the rights and remedies created hereby, including the payment of any
reasonable and documented or invoiced out-of-pocket fees and Taxes required in connection with the execution and delivery of this Agreement, the granting of the Security
Interest and the filing of any financing statements or other documents in connection herewith or therewith. If any amount payable to any Grantor under or in connection with any of the Article 9 Collateral shall be or become evidenced by any
promissory note (which may be a global note) or other instrument (other than any promissory note or other instrument in an aggregate principal amount of less than $1,000,000 owed to the applicable Grantor by any Person), such note or instrument
shall be promptly delivered (but in any event within 45 days of receipt by such Grantor or such longer period as the Administrative Agent may agree in its reasonable discretion) to the Administrative Agent, for the benefit of the Secured Creditors,
together with an undated instrument of transfer duly executed in blank and in a manner reasonably satisfactory to the Administrative Agent. 

  
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 (c) At its option, the Administrative Agent may, with three (3) Business Day’s prior
written notice to the Borrower, discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the tangible Article 9 Collateral and not permitted pursuant to
Section 7.2 of the Credit Agreement, and may pay for the maintenance and preservation of the tangible Article 9 Collateral to the extent any Grantor fails to do so as required by the Credit Agreement, this Agreement or
any other Loan Document and within a reasonable period of time after the Administrative Agent has reasonably requested that it do so; provided that nothing in this paragraph shall be interpreted as excusing any Grantor from the performance
of, or imposing any obligation on the Administrative Agent or any Secured Creditor to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances
and maintenance as set forth herein or in the other Loan Documents. 
 (d) The exercise by the Administrative Agent of any of its rights
hereunder shall not release any Grantor from any of its duties or obligations under each contract, agreement or instrument relating to the Article 9 Collateral unless the Administrative Agent has expressly in writing assumed such duties and
obligations and each Grantor jointly and severally agrees to indemnify and hold harmless the Administrative Agent and the other Secured Creditors from and against any and all liability for such performance. 

(e) Notwithstanding anything herein to the contrary, it is understood that no Grantor shall be required by this Agreement to better assure,
preserve, protect or perfect the Security Interest created hereunder by any means other than (i) filings of financing statements pursuant to the Uniform Commercial Code, (ii) filings with the United States Patent and Trademark Office or
United States Copyright Office (or any successor office), in respect of registered or applied for Intellectual Property, (iii) in the case of Collateral that constitutes Pledged Securities, Instruments, Tangible Chattel Paper or Negotiable
Documents (other than those Negotiable Documents held in the ordinary course of business), delivery thereof to the Administrative Agent in accordance with the terms hereof (together with, where applicable, undated stock or note powers or other
undated proper instruments of assignment) and (iv) other actions to the extent required by Section 3.04 hereunder. No Grantor shall be required to (i) complete any filings or other action with respect to the
better assurance, preservation, protection or perfection of the security interests created hereby in any jurisdiction outside of the United States or to reimburse the Administrative Agent for any costs incurred in connection with the same or
(ii) except as required by Section 6.20 of the Credit Agreement, deliver control agreements with respect to, or confer perfection by “control” over, any Deposit Accounts, Securities Accounts or Commodity
Accounts. 
 SECTION 3.04. Other Actions. In order to further insure the attachment, perfection and priority of, and the ability of
the Administrative Agent to enforce, the Security Interest, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 

  
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 (a) Instruments. If any Grantor shall at any time hold or acquire any Instruments
constituting Collateral evidencing Indebtedness in excess of $1,000,000 (individually), such Grantor shall promptly (but in any event within 45 days of receipt by such Grantor or such longer period as the Administrative Agent may agree in its
reasonable discretion) endorse, assign and deliver the same to the Administrative Agent, accompanied by such undated instruments of transfer or assignment duly executed in blank as the Administrative Agent may from time to time reasonably request.

 (b) Investment Property. Except to the extent otherwise provided in Article II, if any Grantor shall at
any time hold or acquire any certificated securities constituting Collateral, such Grantor shall forthwith endorse, assign and deliver the same to the Administrative Agent, accompanied by such undated instruments of transfer or assignment duly
executed in blank as the Administrative Agent may from time to time reasonably request. 
 (c) [Reserved]. 

(d) Commercial Tort Claims. If any Grantor shall at any time hold or acquire a Commercial Tort Claim (in respect of which a complaint or
counterclaim has been filed by or on behalf of such Grantor) seeking damages in an amount reasonably estimated to exceed $1,000,000, such Grantor shall promptly notify the Administrative Agent thereof in a writing signed by such Grantor, including a
summary description of such claim, and Schedule IV hereto shall be deemed to be supplemented to include such description of such Commercial Tort Claim as set forth in such writing. 

SECTION 3.05. Covenants Regarding Patent, Trademark and Copyright Collateral. (a) Except to the extent a failure to act could not
reasonably be expected to have a Material Adverse Effect, with respect to registration or pending application of each item of its Intellectual Property for which such Grantor has standing and ability to do so, each Grantor agrees to take
commercially reasonable efforts to (i) take all steps to maintain the validity and enforceability of any United States registered Intellectual Property (or applications therefor) that is material to the conduct of such Grantor’s business
and to maintain such registrations and applications of Intellectual Property in full force and effect and (ii) pursue the registration and maintenance of each Patent, Trademark or Copyright registration or application that is material to the
conduct of such Grantor’s business. Grantor shall take commercially reasonable steps to defend title to and ownership of its Intellectual Property that is material to the conduct of such Grantor’s business. Notwithstanding the foregoing,
nothing in this Section 3.05 shall prevent any Grantor from disposing of, discontinuing the use or maintenance of, abandoning, failing to pursue or enforce or otherwise allowing to lapse, terminate, be invalidated or put
into the public domain any of its registered or applied for Intellectual Property that is no longer used or useful, or economically practicable to maintain, or if such Grantor determines in its reasonable business judgment that such discontinuance
is desirable in the conduct of its business. 
 (b) Each Grantor agrees that, should it obtain an ownership or other interest in any
Intellectual Property after the Closing Date (i) the provisions of this Agreement shall automatically apply thereto and (ii) any such Intellectual Property shall automatically become Intellectual Property subject to the terms and
conditions of this Agreement, except, with respect to each of (i) and (ii) above, if such Intellectual Property is obtained under a license from a third party under which a security interest would not be permitted. For the avoidance of doubt, a
security interest shall not be granted in any Intellectual Property that constitutes an Excluded Asset. 

  
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 (c) Each Grantor, either itself or through any agent, employee, licensee or designee, shall
(i) whenever a certificate is delivered or required to be delivered pursuant to Section 6.4(b) of the Credit Agreement, deliver to the Administrative Agent a schedule setting forth all of such Grantor’s registered and applied for
Patents, Trademarks and Copyrights that are not listed on Schedule III hereto or on a schedule previously provided to the Administrative Agent pursuant to this Section 3.05(c), and (ii) within a reasonable time following the
request of the Administrative Agent, execute and deliver a Patent Security Agreement, Trademark Security Agreement or Copyright Security Agreement, as applicable, in respect of such Patents, Trademarks and Copyrights, and any and all other
agreements, instruments, documents and papers as the Administrative Agent may reasonably request to evidence and perfect the Security Interest in such registered or applied for Patents, Trademarks or Copyrights. 

ARTICLE IV 
 Remedies 

SECTION 4.01. Remedies upon Default. Upon the occurrence and during the continuance of an Event of Default, each Grantor agrees to
deliver, on demand, each item of Collateral to the Administrative Agent or any Person designated by the Administrative Agent, including all books and records relating thereto and all tangible evidence of its Accounts and contract rights (including,
without limitation, all documents evidencing the Accounts and all Contracts evidencing such contract rights), and if the Administrative Agent so directs, such Grantor shall legend, in form and manner reasonably satisfactory to the Administrative
Agent, the Accounts and the Contracts, as well as books, records and documents (if any) of such Grantor evidencing or pertaining to such Accounts and Contracts with an appropriate reference to the fact that such Accounts and Contracts have been
assigned to the Administrative Agent and that the Administrative Agent has a security interest therein, and it is agreed that the Administrative Agent shall have the right to take any of or all the following actions at the same or different times:
(a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand, to cause the Security Interest to become an assignment, transfer and conveyance of any of or all such Article 9 Collateral by the applicable
Grantors to the Administrative Agent, for the benefit of the Secured Creditors, or to license or sublicense, whether on an exclusive or nonexclusive basis, any such Article 9 Collateral throughout the world on such terms and conditions and in such
manner as the Administrative Agent shall determine (other than in violation of any of the then existing licensing arrangements to the extent that waivers cannot be obtained) in connection with exercise of its remedies hereunder, and (b) with or
without legal process and with or without prior notice or demand for performance, to take possession of the Article 9 Collateral and the Pledged Collateral and occupy any premises owned or, to the extent lawful and permitted, leased by any of the
Grantors where the Collateral or any part thereof is assembled or located for a reasonable period in order to effectuate its rights and remedies hereunder or under the Uniform Commercial Code or other applicable law. Without limiting the generality
of the foregoing, each Grantor agrees that the Administrative Agent shall have the right, subject to the mandatory requirements of applicable law and the notice requirements described below, to sell or

  
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otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the
Administrative Agent shall deem appropriate. The Administrative Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent and agree
that they are purchasing the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Administrative Agent shall have the right to assign, transfer and
deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to
the extent permitted by law) all rights of redemption, stay and appraisal that such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 

The Administrative Agent shall give the applicable Grantors no less than 10 days’ prior written notice (which each Grantor agrees is
reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Administrative Agent’s intention to make any sale of Collateral. Such
notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on
which the Collateral or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Administrative Agent may
fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Administrative Agent may (in its sole and absolute discretion)
determine. The Administrative Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Administrative Agent may,
without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to
which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Administrative Agent until the sale price is paid by the purchaser or
purchasers thereof, but the Administrative Agent and the other Secured Creditors shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such
Collateral may be sold again upon like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Secured Creditor may bid for or purchase, free (to the extent permitted by law) from any right of
redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make payment on account thereof
by using any claim then due and payable to such Secured Creditor from any Grantor as a credit against the purchase price, and such Secured Creditor may, upon compliance with the terms of sale, hold, retain and dispose of such property without
further accountability to any Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Administrative Agent shall be free to carry out such sale pursuant to
such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Administrative Agent shall have entered into such

  
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an agreement all Events of Default shall have been remedied and the Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Administrative Agent
may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 4.01 shall be deemed to conform to the commercial reasonableness standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
 SECTION 4.02.
Application of Proceeds. Subject to the terms of any applicable intercreditor agreement contemplated by the Credit Agreement, the Administrative Agent shall apply the proceeds of any collection or sale of Collateral, including any
Collateral consisting of cash, as set forth in Section 2.11 of the Credit Agreement. 
 The Administrative Agent
shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Administrative Agent (including pursuant to a power of sale granted by
statute or under a judicial proceeding), the receipt of the Administrative Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be
obligated to see to the application of any part of the purchase money paid over to the Administrative Agent or such officer or be answerable in any way for the misapplication thereof. The Administrative Agent shall have no liability to any of the
Secured Creditors for actions taken in reliance on information supplied to it as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the Obligations. 

SECTION 4.03. Securities Act. In view of the position of the Grantors in relation to the Pledged Collateral, or because of other
current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such act and any such similar statute as from time to
time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted hereunder. Each Grantor understands that compliance with the Federal Securities Laws might very strictly
limit the course of conduct of the Administrative Agent if the Administrative Agent were to attempt to dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the manner in which any subsequent transferee of
any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Administrative Agent in any attempt to dispose of all or part of the Pledged Collateral under applicable blue sky or
other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the Administrative Agent may, with respect to any sale of the Pledged Collateral, limit the
purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that in light of such
restrictions and limitations, the Administrative Agent, in its sole and absolute discretion, (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof
shall have been filed under the Federal Securities Laws to the extent the Administrative Agent has determined that such a registration is not required by any 

  
 -21- 

 
Requirements of Law and (b) may approach and negotiate with a limited number of potential purchasers (including a single potential purchaser) to effect such sale. Each Grantor acknowledges
and agrees that any such sale might result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Administrative Agent and the other Secured Creditors
shall incur no responsibility or liability for selling all or any part of the Pledged Collateral at a price that the Administrative Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances,
notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred until after registration as aforesaid or if more than a limited number of purchasers (or a single purchaser) were approached. The
provisions of this Section 4.03 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may exceed substantially the price at which the Administrative Agent sells.

 SECTION 4.04. Grant of License to Use Intellectual Property. Upon the occurrence and during the continuance of an Event of
Default, for the purpose of enabling the Administrative Agent to exercise rights and remedies under this Agreement, each Grantor hereby grants to the Administrative Agent an irrevocable (until terminated as provided below), nonexclusive license
(exercisable without payment of royalty or other compensation to the Grantors) to use or sublicense (to its contractors, agents or representatives, or otherwise exercising its remedies hereunder) any of the Collateral consisting of Intellectual
Property now owned or hereafter acquired by such Grantor, and wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer software
and programs used for the compilation or printout thereof to the extent that such non-exclusive license (a) does not violate the express terms of any agreement between a Grantor and a third party
governing such Collateral consisting of Intellectual Property, or gives such third party any right of acceleration, modification, termination or cancellation therein and (b) is not prohibited by any Requirements of Law; provided that such
license and sublicenses with respect to Trademarks shall be subject to the maintenance of quality standards with respect to the goods and services on which such Trademarks are used sufficient to preserve the validity of such Trademarks. The use of
such license by the Administrative Agent may be exercised solely during the continuation of an Event of Default; provided that any license, sublicense or other transaction entered into by the Administrative Agent in accordance with the provisions of
this Agreement shall be binding upon the Grantors, notwithstanding any subsequent cure of an Event of Default. For the avoidance of doubt, at the time of the release of the Liens on any Collateral as set forth herein, the license granted to the
Administrative Agent pursuant to this Section 4.04 with respect to such Collateral shall automatically and immediately terminate. 

ARTICLE V 
 Miscellaneous

 SECTION 5.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 10.1 of the Credit Agreement. All communications and notices hereunder to any Grantor shall be given to it in care of the Borrower as provided in
Section 10.1 of the Credit Agreement. 

  
 -22- 

 SECTION 5.02. Waivers; Amendment. (a) No failure or delay by the Administrative Agent
or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce
such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under the other Loan Documents are cumulative and
are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Credit Party therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) of this Section 5.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of
a Loan shall not be construed as a waiver of any Default hereunder, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of such Default at the time. No notice or demand on any Credit Party in any case shall
entitle any Credit Party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any
provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Grantor or Grantors with respect to which such waiver, amendment or modification is to
apply, subject to any consent required in accordance with Section 10.12 of the Credit Agreement; provided that the Administrative Agent may, without the consent of any other Secured Creditor, consent to a departure
by any Grantor from any covenant of such Grantor set forth herein to the extent such departure is consistent with the authority of the Administrative Agent set forth in the definition of the term “Collateral and Guarantee Requirement” in
the Credit Agreement. 
 SECTION 5.03. Administrative Agent’s Fees and Expenses; Indemnification. The provisions
of Section 10.2 of the Credit Agreement are incorporated herein by reference, mutatis mutandis; provided that each reference therein to the “Borrower” shall be deemed to be a reference to “each
Grantor”. 
 SECTION 5.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such
reference shall be deemed to include the permitted successors and assigns of such party, and all covenants, promises and agreements by or on behalf of any Grantor or the Administrative Agent that are contained in this Agreement shall bind and inure
to the benefit of their respective successors and assigns. 
 SECTION 5.05. Survival of Agreement. All covenants, agreements,
representations and warranties made by the Credit Parties in this Agreement and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the Secured Creditors
and shall survive the execution and delivery of the Loan Documents and the making of any Loans, in each case, in accordance with and subject to the limitations set forth in Section 5.24 of the Credit Agreement. 

  
 -23- 

 SECTION 5.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be
executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this
Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement. This Agreement shall become effective as to any Grantor when a counterpart hereof executed on behalf of such
Grantor shall have been delivered to the Administrative Agent and a counterpart hereof shall have been executed on behalf of the Administrative Agent, and thereafter shall be binding upon such Grantor and the Administrative Agent and their
respective permitted successors and assigns, and shall inure to the benefit of such Grantor, the Administrative Agent and the other Secured Creditors and their respective successors and assigns, except that no Grantor shall have the right to assign
or transfer its rights or obligations hereunder or any interest herein (and any such assignment or transfer shall be void) except as expressly provided in this Agreement and the Credit Agreement. This Agreement shall be construed as a separate
agreement with respect to each Grantor and may be amended, modified, supplemented, waived or released with respect to any Grantor without the approval of any other Grantor and without affecting the obligations of any other Grantor hereunder. 

SECTION 5.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 5.08. Right of Set-off. If an Event of Default under the Credit Agreement shall have occurred and be continuing, each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to
set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender to or for the credit or the
account of any Grantor against any of and all the obligations of such Grantor then due and owing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although
(i) such obligations may be contingent or unmatured and (ii) such obligations are owed to a branch or office of such Lender different from the branch or office holding such deposit or obligated on such Indebtedness. The applicable Lender
shall notify the applicable Grantor and the Administrative Agent of such setoff and application; provided that any failure to give or any delay in giving such notice shall not affect the validity of any such setoff and application under this
Section 5.08. The rights of each Lender under this Section 5.08 are in addition to other rights and remedies (including other rights of setoff) that such Lender may have. 

SECTION 5.09. Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process Agent. (a) THIS
AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THEREOF, EXCEPT TO THE EXTENT OTHERWISE PROVIDED IN THE LOAN DOCUMENTS. 

  
 -24- 

 (b) FOR PURPOSES OF ANY LEGAL ACTION OR PROCEEDING BROUGHT BY ANY MEMBER OF THE LENDER GROUP WITH
RESPECT TO THIS AGREEMENT, EACH CREDIT PARTY HEREBY IRREVOCABLY SUBMITS TO THE PERSONAL JURISDICTION OF THE FEDERAL AND STATE COURTS SITTING IN THE STATE OF NEW YORK AND HEREBY IRREVOCABLY DESIGNATES AND APPOINTS, AS ITS AUTHORIZED AGENT FOR SERVICE
OF PROCESS, THE BORROWER, OR SUCH OTHER PERSON AS SUCH CREDIT PARTY SHALL DESIGNATE HEREAFTER BY WRITTEN NOTICE GIVEN TO THE ADMINISTRATIVE AGENT. THE CONSENT TO JURISDICTION HEREIN SHALL NOT BE EXCLUSIVE. THE LENDER GROUP SHALL FOR ALL PURPOSES
AUTOMATICALLY, AND WITHOUT ANY ACT ON THEIR PART, BE ENTITLED TO TREAT SUCH DESIGNEE OF EACH CREDIT PARTY AS THE AUTHORIZED AGENT TO RECEIVE FOR AND ON BEHALF OF SUCH CREDIT PARTY SERVICE OF WRITS, OR SUMMONS OR OTHER LEGAL PROCESS, WHICH SERVICE
SHALL BE DEEMED EFFECTIVE PERSONAL SERVICE ON SUCH CREDIT PARTY SERVED WHEN DELIVERED, WHETHER OR NOT SUCH AGENT GIVES NOTICE TO SUCH CREDIT PARTY; AND DELIVERY OF SUCH SERVICE TO ITS AUTHORIZED AGENT SHALL BE DEEMED TO BE MADE WHEN PERSONALLY
DELIVERED OR THREE (3) BUSINESS DAYS AFTER MAILING BY REGISTERED OR CERTIFIED MAIL ADDRESSED TO SUCH AUTHORIZED AGENT. EACH CREDIT PARTY FURTHER IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF
COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL TO SUCH CREDIT PARTY AT THE ADDRESS SET FORTH ABOVE, SUCH SERVICE TO BECOME EFFECTIVE THREE (3) BUSINESS DAYS AFTER SUCH MAILING. IN THE EVENT THAT, FOR ANY REASON, SUCH AGENT OR ITS SUCCESSORS
SHALL NO LONGER SERVE AS AGENT OF EACH CREDIT PARTY TO RECEIVE SERVICE OF PROCESS, EACH CREDIT PARTY SHALL SERVE AND ADVISE THE ADMINISTRATIVE AGENT THEREOF SO THAT AT ALL TIMES EACH CREDIT PARTY WILL MAINTAIN AN AGENT TO RECEIVE SERVICE OF PROCESS
ON BEHALF OF SUCH CREDIT PARTY WITH RESPECT TO THIS AGREEMENT. IN THE EVENT THAT, FOR ANY REASON, SERVICE OF LEGAL PROCESS CANNOT BE MADE IN THE MANNER DESCRIBED ABOVE, SUCH SERVICE MAY BE MADE IN SUCH MANNER AS PERMITTED BY LAW. 

(c) EACH CREDIT PARTY AND EACH MEMBER OF THE LENDER GROUP HEREBY IRREVOCABLY WAIVES ANY OBJECTION IT WOULD MAKE NOW OR HEREAFTER FOR THE LAYING
OF VENUE OF ANY SUIT, ACTION, OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT BROUGHT IN THE FEDERAL COURTS OF THE UNITED STATES SITTING IN NEW YORK COUNTY, NEW YORK, AND HEREBY IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH SUIT, ACTION, OR
PROCEEDING HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 SECTION 5.10. WAIVER OF JURY TRIAL. EACH CREDIT PARTY AND EACH MEMBER OF THE
LENDER GROUP TO THE EXTENT PERMITTED BY APPLICABLE LAW WAIVES, AND OTHERWISE AGREES NOT TO REQUEST, A TRIAL BY JURY IN ANY COURT AND IN ANY ACTION, PROCEEDING OR COUNTERCLAIM OF ANY TYPE IN WHICH ANY CREDIT PARTY, ANY MEMBER OF THE LENDER GROUP OR
ANY OF THEIR RESPECTIVE SUCCESSORS OR ASSIGNS IS A PARTY, AS TO ALL MATTERS AND THINGS ARISING DIRECTLY OR INDIRECTLY OUT OF THIS AGREEMENT AND THE RELATIONS AMONG THE PARTIES LISTED IN SECTION 5.9 OR THIS SECTION 5.10. 

  
 -25- 

 SECTION 5.11. Headings. Article and Section headings and the Table of Contents used herein
are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 5.12. Security Interest Absolute. All rights of the Administrative Agent hereunder, the Security Interest, the grant of a
security interest in the Pledged Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit Agreement, any other Loan Document, any
agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any
other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any
Lien on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee securing or guaranteeing all or any of the Obligations or (d) any other circumstance that might otherwise constitute a defense
available to, or a discharge of, any Grantor in respect of the Obligations or this Agreement. 
 SECTION 5.13. [Reserved]. 

SECTION 5.14. Additional Subsidiaries. The Grantors shall cause (i) each Subsidiary of the Borrower (other than any Excluded
Subsidiary) which, from time to time, on or after the date hereof shall be required to pledge any assets) to the Administrative Agent for the benefit of the Secured Creditors pursuant to the Credit Agreement and (ii) consistent with the Credit
Agreement, any Domestic Subsidiary, or to the extent reasonably acceptable to the Administrative Agent, a Subsidiary that is not a Wholly Owned Subsidiary (including any consolidated Affiliate in which its Subsidiaries own no Equity Interests),
which the Borrower, at its option, elects to become a Grantor, to execute and deliver to the Administrative Agent a Joinder Supplement regarding such Subsidiary (as applicable), in each case, within the time period provided in
Section 6.12 of the Credit Agreement. Upon execution and delivery of such documents to the Administrative Agent, any such Subsidiary shall become a Grantor hereunder with the same force and effect as if originally named as
such herein. The execution and delivery of any such instrument shall not require the consent of any other Grantor hereunder. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of
any new Grantor as a party to this Agreement. 
 SECTION 5.15. Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby makes, constitutes and appoints the Administrative Agent (and all officers, employees or agents designated by the Administrative Agent) the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Administrative
Agent may deem necessary or advisable to accomplish the purposes hereof at any time after and during the continuance of an Event of Default, which appointment is irrevocable and coupled with an interest. Without limiting the

  
 -26- 

 
generality of the foregoing, the Administrative Agent shall have the right, but only upon the occurrence and during the continuance of an Event of Default and written notice by the Administrative
Agent to the Borrower of its intent to exercise such rights, with full power of substitution either in the Administrative Agent’s name or in the name of such Grantor (a) to receive, indorse, assign and/or deliver any and all notes,
acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the
Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral; (d) upon prior written notice to the Borrower, to send verifications of accounts receivable to any Account Debtor;
(e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in respect of any
Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) upon prior written notice to the Borrower, to notify, or to require any Grantor to notify,
Account Debtors to make payment directly to the Administrative Agent; (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things
necessary to carry out the purposes of this Agreement, as fully and completely as though the Administrative Agent were the absolute owner of the Collateral for all purposes, and (i) to make, settle and adjust claims in respect of Article 9
Collateral under policies of insurance, indorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto;
provided that nothing herein contained shall be construed as requiring or obligating the Administrative Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Administrative Agent,
or to present or file any claim or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Administrative Agent and the other Secured
Creditors shall be accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act
or failure to act hereunder, except for their own gross negligence, bad faith or willful misconduct or that of any of their controlled Affiliates, directors, officers, employees, counsel, agents or attorneys-in-fact. 
 SECTION 5.16. Intercreditor Agreement Governs. Notwithstanding
anything herein to the contrary, (i) the Liens and security interests granted to the Administrative Agent for the benefit of the Secured Creditors pursuant to this Agreement and (ii) the exercise of any right or remedy by the
Administrative Agent hereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral, are subject to the provisions of the ABL/Term Intercreditor Agreement. In the event of any conflict between the
terms of the ABL/Term Intercreditor Agreement and the terms of this Agreement, the terms of the ABL/Term Intercreditor Agreement shall govern. 

SECTION 5.17. Delivery of Term Loan First Lien Collateral. In accordance with the terms of the ABL/Term Intercreditor Agreement, all
Term Loan First Lien Collateral delivered to the Term Representative shall be held by the Term Representative as gratuitous bailee for the Secured Creditors solely for the purpose of perfecting the security interest granted under this Agreement.
Notwithstanding anything herein to the contrary, prior to the Discharge of 

  
 -27- 

 
Senior Secured Debt Obligations with respect to Term Loan First Lien Collateral, to the extent any Grantor is required hereunder to deliver Term Loan First Lien Collateral to the Administrative
Agent and is unable to do so as a result of having previously delivered such Term Loan First Lien Collateral to the Term Representative in accordance with the terms of the Pari Term Loan Debt Security Documents, such Grantor’s obligations
hereunder with respect to such delivery shall be deemed satisfied by the delivery to the Term Representative, acting as gratuitous bailee of the Administrative Agent. Terms used in this Section 5.17 and not otherwise
defined herein shall have the meanings given to such terms in the ABL/Term Intercreditor Agreement. 
 SECTION 5.18. No Liability.
The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the
Administrative Agent’s Lien thereon, or any certificate prepared by any Credit Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the
Collateral. 
 SECTION 5.19. Compromises and Collection of Collateral. Each Grantor and the Administrative Agent recognize that
setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and
probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any
time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine
or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action. 

[Remainder of Page Intentionally Left Blank] 

  
 -28- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
 GRANTORS: 
  

					
	BORROWER:	  	 INSTALLED BUILDING PRODUCTS, INC.

			
		  	 By:
	  	 /s/ Michael T. Miller

		  		  	 Name: Michael T. Miller

		  		  	 Title: Executive Vice President and Chief

		  		  	          Financial Officer

			
	GUARANTORS:	  	ACCURATE INSULATION LLC
		  	 ACCURATE INSULATION OF COLORADO, LLC

		  	 ACCURATE INSULATION OF DELAWARE, LLC

		  	 ACCURATE INSULATION OF UPPER MARLBORO, LLC

		  	 ALL CONSTRUCTION SERVICES, LLC

		  	 ALL IN ONE & MOORE BUILDING SYSTEMS, LLC

		  	 ALPHA INSULATION & WATER PROOFING COMPANY

		  	 ALPHA INSULATION & WATER PROOFING, INC.

		  	 ALPINE INSULATION I, LLC

		  	 AMERICAN INSULATION & ENERGY SERVICES, LLC

		  	 ANY SEASON INSULATION, LLC

		  	 APPLE VALLEY INSULATION, A BDI COMPANY, INC.

		  	 BAYTHERM INSULATION, LLC

		  	 BDI INSULATION OF IDAHO FALLS, INC.

		  	 BDI INSULATION OF SALT LAKE, L.L.C.

		  	 BER ENERGY SERVICES, LLC

		  	 BIG CITY INSULATION OF IDAHO, INC.

		  	 BIG CITY INSULATION, INC.

		  	 B-ORGANIZED INSULATION, LLC

		  	 BROKEN DRUM INSULATION VISALIA, INC.

		  	 BROKEN DRUM OF BAKERSFIELD, INC.

		  	 BUILDERS INSTALLED PRODUCTS OF MAINE, LLC

		  	 BUILDERS INSTALLED PRODUCTS OF NEW HAMPSHIRE, LLC

		  	 BUILDERS INSTALLED PRODUCTS OF NEW YORK, LLC

		  	 BUILDERS INSTALLED PRODUCTS OF VERMONT, LLC

		  	 BUILDING MATERIALS FINANCE, INC.

		  	 C.Q. INSULATION, INC.

		  	 CLS INSULATION, LLC

		  	 CORNHUSKER INSULATION, LLC

		  	 EAST COAST INSULATORS II, LLC

		  	 EASTERN CONTRACTOR SERVICES LIMITED LIABILITY

		  	COMPANY
		  	 ECOLOGIC ENERGY SOLUTIONS, LLC

		  	 EDWARDS / MOONEY & MOSES, LLC

		  	 EMPER HOLDINGS, LLC

		  	 FIBERCLASS INSULATION, LLC

		  	 FORT WAYNE URETHANE, LLC

		  	 GARAGE DOOR SYSTEMS, LLC 

		  	 GOLD INSULATION, INC.

		  	 G-T-G,
LLC

		  	 HINKLE INSULATION & DRYWALL COMPANY, INCORPORATED

		  	 HORIZON ELECTRIC SERVICES, LLC

		  	 IBHL A HOLDING COMPANY, INC.

		  	 IBHL B HOLDING COMPANY, INC.

		  	 IBHL II-A HOLDING COMPANY, INC.

		
		  	By: /s/ Michael T.
Miller                                
		  	     Name: Michael T. Miller

		  	     Title: Executive Vice President and Chief

		  	        Financial Officer

			
		  	 IBHL II-B HOLDING COMPANY, INC.

		  	 IBP ARCTIC EXPRESS, LLC

		  	 IBP ASSET, LLC

		  	 IBP ASSET II, LLC

		  	 IBP CORPORATION HOLDINGS, INC.

		  	 IBP EXTERIORS, INC.

		  	 IBP HOLDINGS, LLC

		  	 IBP HOLDINGS II, LLC

		  	 IBP OF MANSFIELD, LLC

		  	 IBP OF OKLAHOMA, LLC

		  	 IBP OF SAN ANTONIO, LLC

		  	 IBP OF TOLEDO, LLC

		  	 IBP TEXAS ASSETS I, LLC

		  	 IBP TEXAS ASSETS II, LLC

		  	 IBP TEXAS ASSETS III, LLC

		  	 INSTALLED BUILDING PRODUCTS, LLC

		  	 INSTALLED BUILDING PRODUCTS II, LLC

		  	 INSTALLED BUILDING PRODUCTS OF HOUSTON, LLC

		  	 INSTALLED BUILDING PRODUCTS – PORTLAND, LLC

		  	 INSTALLED BUILDING SOLUTIONS II, LLC

		  	 INSULATION NORTHWEST, LLC

		  	 INSULATION WHOLESALE SUPPLY, LLC

		  	 INSULVAIL, LLC

		  	 KEY INSULATION OF AUSTIN, LLC

		  	 KEY INSULATION OF SAN ANTONIO, LLC

		  	 LAKESIDE INSULATION, LLC

		  	 LAYMAN BROTHERS INSULATION, LLC

		  	 LKS TRANSPORTATION, LLC

		  	 LOVEDAY INSULATION, LLC

		  	 M&D INSULATION, LLC

		  	 MAP INSTALLED BUILDING PRODUCTS OF SAGAMORE, LLC

		  	 MAP INSTALLED BUILDING PRODUCTS OF SEEKONK, LLC

		  	 MARV’S INSULATION, INC.

		  	 METRO HOME INSULATION, LLC

		  	 MID SOUTH CONSTRUCTION AND BUILDING PRODUCTS, INC.

		  	 MIG BUILDING SYSTEMS, LLC

		  	 MIG BUILDING SYSTEMS OF EAST SYRACUSE, LLC

		  	 MOMPER INSULATION OF CROWN POINT, LLC

		  	 MOMPER INSULATION OF ELKHART, LLC

		  	 MOMPER INSULATION OF FORT WAYNE, LLC

		  	 NORTHWEST INSULATION, LLC

		  	 OJ INSULATION HOLDINGS, INC.

		  	 PACIFIC PARTNERS INSULATION NORTH, A BDI COMPANY, LLC

		  	 PACIFIC PARTNERS INSULATION SOUTH, A BDI COMPANY, LLC

		  	 PARKER INSULATION AND BUILDING PRODUCTS, LLC

		
		  	By: /s/ Michael T.
Miller                                
		  	     Name: Michael T. Miller

		  	     Title: Executive Vice President and Chief

		  	        Financial Officer

			
		  	 PEG, LLC

		  	 RAJAN, LLC

		  	 ROCKFORD INSULATION, LLC

		  	 SIERRA INSULATION CONTRACTORS II, LLC

		  	 SOUTHERN INSULATORS, LLC

		  	 SPEC 7 INSULATION CO., LLC

		  	 SUPERIOR INSULATION SERVICES, LLC

		  	 SUPERIOR INSULATION, LLC

		  	 TCI CONTRACTING OF CHARLESTON, LLC

		  	 TCI CONTRACTING OF HILTON HEAD, LLC

		  	 TCI CONTRACTING OF KENTUCKY, LLC

		  	 TCI CONTRACTING OF MEMPHIS, LLC

		  	 TCI CONTRACTING OF NASHVILLE, LLC

		  	 TCI CONTRACTING OF THE GULF, LLC

		  	 TCI CONTRACTING, LLC

		  	 THERMAL CONTROL INSULATION, LLC

		  	 TIDEWATER INSULATORS, LLC

		  	 TOWN BUILDING SYSTEMS, LLC

		  	 TRILOK INDUSTRIES, INC.

		  	 U.S. INSULATION CORP.

		  	 WATER-TITE COMPANY, LLC

		  	 WILSON INSULATION COMPANY, LLC

		
		  	By: /s/ Michael T. Miller
		  	     Name: Michael T. Miller

		  	     Title: Executive Vice President and Chief

		  	        Financial Officer
		
		  	 GOLD STAR INSULATION, L.P.

		
		  	 By: Gold Insulation, Inc., its General Partner

		
		  	By: /s/ Michael T. Miller
		  	    Name: Michael T. Miller
		  	    Title: Executive Vice President and
		  	        Chief Financial Officer
		
		  	 OJ INSULATION, L.P.

		
		  	 By: OJ Insulation Holdings, Inc., its General

		  	Partner
		
		  	By: /s/ Michael T. Miller
		  	    Name: Michael T. Miller
		  	    Title: Executive Vice President and
		  	        Chief Financial Officer

 
			
	SUNTRUST BANK, as Administrative Agent
		
	By:	 	/s/ Tighe A. Ittner
	Name:	 	Tighe A. Ittner
	Title:	 	Director

 [Signature Page for Security Agreement] 

 Schedule I to the 

Security Agreement 
 GRANTORS

 BORROWER: 
  

	 	1.	INSTALLED BUILDING PRODUCTS, INC., a Delaware corporation 

 GUARANTORS: 

 

	 	2.	ACCURATE INSULATION LLC, a Maryland limited liability company 

  

	 	3.	ACCURATE INSULATION OF COLORADO, LLC, a Delaware limited liability company 

  

	 	4.	ACCURATE INSULATION OF DELAWARE, LLC, a Delaware limited liability company 

  

	 	5.	ACCURATE INSULATION OF UPPER MARLBORO, LLC, a Delaware limited liability company 

  

	 	6.	ALL CONSTRUCTION SERVICES, LLC, a Delaware limited liability company 

  

	 	7.	ALL IN ONE & MOORE BUILDING SYSTEMS, LLC, a Delaware limited liability company 

  

	 	8.	ALPHA INSULATION & WATER PROOFING COMPANY, a Georgia corporation 

  

	 	9.	ALPHA INSULATION & WATER PROOFING, INC., a Texas corporation 

  

	 	10.	ALPINE INSULATION I, LLC, a Delaware limited liability company 

  

	 	11.	AMERICAN INSULATION & ENERGY SERVICES, LLC, an Alabama limited liability company 

  

	 	12.	ANY SEASON INSULATION, LLC, a Delaware limited liability company 

  

	 	13.	APPLE VALLEY INSULATION, A BDI COMPANY, INC., a California corporation 

  

	 	14.	B-ORGANIZED INSULATION, LLC, a Delaware limited liability company 

  

	 	15.	BAYTHERM INSULATION, LLC, a Delaware limited liability company 

  

	 	16.	BDI INSULATION OF IDAHO FALLS, INC., an Idaho corporation 

  

	 	17.	BDI INSULATION OF SALT LAKE, L.L.C., a Utah limited liability company 

  

	 	18.	BER ENERGY SERVICES, LLC, a Texas limited liability company 

  

	 	19.	BIG CITY INSULATION, INC., a Utah corporation 

  

	 	20.	BIG CITY INSULATION OF IDAHO, INC., an Idaho corporation 

  

	 	21.	BROKEN DRUM OF BAKERSFIELD, INC., a California corporation 

  

	 	22.	BROKEN DRUM INSULATION VISALIA, INC., a California corporation 

  

	 	23.	BUILDERS INSTALLED PRODUCTS OF MAINE, LLC, a Delaware limited liability company 

  

	 	24.	BUILDERS INSTALLED PRODUCTS OF NEW HAMPSHIRE, LLC, a Delaware limited liability company 

  

	 	25.	BUILDERS INSTALLED PRODUCTS OF NEW YORK, LLC, a Delaware limited liability company 

  

	 	26.	BUILDERS INSTALLED PRODUCTS OF VERMONT, LLC, a Delaware limited liability company 

  

	 	27.	BUILDING MATERIALS FINANCE, INC., a Delaware corporation 

 GUARANTORS (cont): 
  

	 	28.	CLS INSULATION, LLC, a Delaware limited liability company 

  

	 	29.	CORNHUSKER INSULATION, LLC, a Delaware limited liability company 

  

	 	30.	C.Q. INSULATION, INC., a Florida corporation 

  

	 	31.	EAST COAST INSULATORS II, LLC, a Delaware limited liability company 

  

	 	32.	EASTERN CONTRACTOR SERVICES LIMITED LIABILITY COMPANY, a New Jersey limited liability company 

  

	 	33.	ECOLOGIC ENERGY SOLUTIONS, LLC, a Delaware limited liability company 

  

	 	34.	EDWARDS/MOONEY & MOSES, LLC, a Delaware limited liability company 

  

	 	35.	EMPER HOLDINGS, LLC, a Delaware limited liability company 

  

	 	36.	FIBERCLASS INSULATION, LLC, a Delaware limited liability company 

  

	 	37.	FORT WAYNE URETHANE, LLC, a Delaware limited liability company 

  

	 	38.	GARAGE DOOR SYSTEMS, LLC, a Delaware limited liability company 

  

	 	39.	GOLD INSULATION, INC., a Delaware corporation 

  

	 	40.	GOLD STAR INSULATION, L.P., a Delaware limited partnership 

  

	 	41.	G-T-G, LLC, a South Carolina limited liability company 

 

	 	42.	HORIZON ELECTRIC SERVICES, LLC, a Delaware limited liability company 

  

	 	43.	HINKLE INSULATION & DRYWALL COMPANY, INCORPORATED, a Texas corporation 

  

	 	44.	IBHL A HOLDING COMPANY, INC., a Delaware corporation 

  

	 	45.	IBHL B HOLDING COMPANY, INC., a Delaware corporation 

  

	 	46.	IBHL II-A HOLDING COMPANY, INC., a Delaware corporation 

  

	 	47.	IBHL II-B HOLDING COMPANY, INC., a Delaware corporation 

  

	 	48.	IBP ARCTIC EXPRESS, LLC, a Delaware limited liability company 

  

	 	49.	IBP ASSET, LLC, a Delaware limited liability company 

  

	 	50.	IBP ASSET II, LLC, a Delaware limited liability company 

  

	 	51.	IBP CORPORATION HOLDINGS, INC., a Delaware corporation 

  

	 	52.	IBP EXTERIORS, INC., a New Jersey corporation 

  

	 	53.	IBP HOLDINGS, LLC, a Delaware limited liability company 

  

	 	54.	IBP HOLDINGS II, LLC, a Delaware limited liability company 

  

	 	55.	IBP OF MANSFIELD, LLC, a Delaware limited liability company 

  

	 	56.	IBP OF OKLAHOMA, LLC, a Delaware limited liability company 

  

	 	57.	IBP OF SAN ANTONIO, LLC, a Delaware limited liability company 

  

	 	58.	IBP OF TOLEDO, LLC, a Delaware limited liability company 

  

	 	59.	IBP TEXAS ASSETS I, LLC, a Delaware limited liability company 

  

	 	60.	IBP TEXAS ASSETS II, LLC, a Delaware limited liability company 

  

	 	61.	IBP TEXAS ASSETS III, LLC, a Delaware limited liability company 

  

	 	62.	INSTALLED BUILDING PRODUCTS, LLC, a Delaware limited liability company 

  

	 	63.	INSTALLED BUILDING PRODUCTS II, LLC, a Delaware limited liability company 

 GUARANTORS (cont): 
  

	 	64.	INSTALLED BUILDING PRODUCTS OF HOUSTON, LLC, a Delaware limited liability company 

  

	 	65.	INSTALLED BUILDING PRODUCTS—PORTLAND, LLC, an Oregon limited liability company 

  

	 	66.	INSTALLED BUILDING SOLUTIONS II, LLC, a Delaware limited liability company 

  

	 	67.	INSULATION NORTHWEST, LLC, a Delaware limited liability company 

  

	 	68.	INSULATION WHOLESALE SUPPLY, LLC, a Nevada limited liability company 

  

	 	69.	INSULVAIL, LLC, a Colorado limited liability company 

  

	 	70.	KEY INSULATION OF AUSTIN, LLC, a Delaware limited liability company 

  

	 	71.	KEY INSULATION OF SAN ANTONIO, LLC, a Delaware limited liability company 

  

	 	72.	LAKESIDE INSULATION, LLC, a Delaware limited liability company 

  

	 	73.	LAYMAN BROTHERS INSULATION, LLC, a Delaware limited liability company 

  

	 	74.	LKS TRANSPORTATION, LLC, a Delaware limited liability company 

  

	 	75.	LOVEDAY INSULATION, LLC, a Delaware limited liability company 

  

	 	76.	M&D INSULATION, LLC, a Delaware limited liability company 

  

	 	77.	MAP INSTALLED BUILDING PRODUCTS OF SAGAMORE, LLC, a Delaware limited liability company 

  

	 	78.	MAP INSTALLED BUILDING PRODUCTS OF SEEKONK, LLC, a Delaware limited liability company 

  

	 	79.	MARV’S INSULATION, INC., an Idaho corporation 

  

	 	80.	METRO HOME INSULATION, LLC, a Delaware limited liability company 

  

	 	81.	MID SOUTH CONSTRUCTION AND BUILDING PRODUCTS, INC., a Georgia corporation 

  

	 	82.	MIG BUILDING SYSTEMS, LLC, a Delaware limited liability company 

  

	 	83.	MIG BUILDING SYSTEMS OF EAST SYRACUSE, LLC, a Delaware limited liability company 

  

	 	84.	MOMPER INSULATION OF CROWN POINT, LLC, a Delaware limited liability company 

  

	 	85.	MOMPER INSULATION OF ELKHART, LLC, a Delaware limited liability company 

  

	 	86.	MOMPER INSULATION OF FORT WAYNE, LLC, a Delaware limited liability company 

  

	 	87.	NORTHWEST INSULATION, LLC, a Delaware limited liability company 

  

	 	88.	OJ INSULATION HOLDINGS, INC., a Delaware corporation 

  

	 	89.	OJ INSULATION, L.P., a Delaware limited partnership 

  

	 	90.	PACIFIC PARTNERS INSULATION NORTH, A BDI COMPANY, LLC, a Washington limited liability company 

  

	 	91.	PACIFIC PARTNERS INSULATION SOUTH, A BDI COMPANY, LLC, a Washington limited liability company 

  

	 	92.	PARKER INSULATION AND BUILDING PRODUCTS, LLC, a Texas limited liability company 

  

	 	93.	PEG, LLC, a Texas limited liability company 

 GUARANTORS (cont): 
  

	 	94.	RAJAN, LLC, an Ohio limited liability company 

  

	 	95.	ROCKFORD INSULATION, LLC, a Delaware limited liability company 

  

	 	96.	SIERRA INSULATION CONTRACTORS II, LLC, a Delaware limited liability company 

  

	 	97.	SOUTHERN INSULATORS, LLC, a Delaware limited liability company 

  

	 	98.	SPEC 7 INSULATION CO., LLC, a Colorado limited liability company 

  

	 	99.	SUPERIOR INSULATION, LLC, a Delaware limited liability company 

  

	 	100.	SUPERIOR INSULATION SERVICES, LLC, a Delaware limited liability company 

  

	 	101.	TCI CONTRACTING, LLC, a Georgia limited liability company 

  

	 	102.	TCI CONTRACTING OF CHARLESTON, LLC, a Delaware limited liability company 

  

	 	103.	TCI CONTRACTING OF HILTON HEAD, LLC, a Delaware limited liability company 

  

	 	104.	TCI CONTRACTING OF KENTUCKY, LLC, a Delaware limited liability company 

  

	 	105.	TCI CONTRACTING OF MEMPHIS, LLC, a Delaware limited liability company 

  

	 	106.	TCI CONTRACTING OF NASHVILLE, LLC, a Delaware limited liability company 

  

	 	107.	TCI CONTRACTING OF THE GULF, LLC, a Delaware limited liability company 

  

	 	108.	THERMAL CONTROL INSULATION, LLC, an Ohio limited liability company 

  

	 	109.	TIDEWATER INSULATORS, LLC, a Delaware limited liability company 

  

	 	110.	TOWN BUILDING SYSTEMS, LLC, a Delaware limited liability company 

  

	 	111.	TRILOK INDUSTRIES, INC., a Georgia corporation 

  

	 	112.	U.S. INSULATION CORP., a Connecticut corporation 

  

	 	113.	WATER-TITE COMPANY, LLC, a Delaware limited liability company 

  

	 	114.	WILSON INSULATION COMPANY, LLC, a Georgia limited liability company 

 Schedule II to the 

Security Agreement 
 PLEDGED EQUITY
INTERESTS 
  

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	1.	  	 Accurate Insulation LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	2.	  	 Accurate Insulation of Colorado, LLC
	  	 IBP Asset, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	3.	  	 Accurate Insulation of Delaware, LLC
	  	 Accurate Insulation, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	4.	  	 Accurate Insulation of Upper Marlboro, LLC
	  	 Accurate Insulation, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	5.	  	 All Construction Services, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	6.	  	 All In One & Moore Building Systems, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	7.	  	 Alpha Insulation & Water Proofing Company
	  	 EMPER Holdings, LLC
	  	4	  	500	  	 	100	% 	 	 	100	% 
	8.	  	 Alpha Insulation & Water Proofing, Inc.
	  	 Trilok Industries, Inc.
	  	1	  	6,000	  	 	100	% 	 	 	100	% 
	9.	  	 Alpine Insulation I, LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	10.	  	 American Insulation & Energy Services, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	11.	  	 Any Season Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	12.	  	 Apple Valley Insulation, a BDI Company, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	4	  	10,000	  	 	100	% 	 	 	100	% 
	13.	  	 Baytherm Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	14.	  	 BDI Insulation of Idaho Falls, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	4	  	10,000	  	 	100	% 	 	 	100	% 
	15.	  	 BDI Insulation of Salt Lake, L.L.C.
	  	 IBP Corporation Holdings, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	16.	  	 BER Energy Services, LLC
	  	 IBP Texas Assets III, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	17.	  	 Big City Insulation of Idaho, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	32	  	95	  	 	100	% 	 	 	100	% 
	18.	  	 Big City Insulation, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	35	  	1,000	  	 	100	% 	 	 	100	% 
	19.	  	 B-Organized Insulation, LLC
	  	 IBP Asset, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	20.	  	 Broken Drum Insulation Visalia, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	15	  	10,000	  	 	100	% 	 	 	100	% 
	21.	  	 Broken Drum of Bakersfield, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	22	  	300,000	  	 	100	% 	 	 	100	% 
	22.	  	 Builders Installed Products of Maine, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	23.	  	 Builders Installed Products of New Hampshire, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	24.	  	 Builders Installed Products of New York, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	25.	  	 Builders Installed Products of Vermont, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	26.	  	 Building Materials Finance, Inc.
	  	 Installed Building Products, LLC
	  	7	  	5,800	  	 	100	% 	 	 	100	% 
	27.	  	 C.Q. Insulation, Inc.
	  	 IBP Corporation Holdings, Inc.
	  	16	  	105,000	  	 	100	% 	 	 	100	% 
	28.	  	 CLS Insulation, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	29.	  	 Cornhusker Insulation, LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	30.	  	 East Coast Insulators II, LLC
	  	 IBP Asset, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	31.	  	 Eastern Contractor Services Limited Liability Company
	  	 Installed Building Products, LLC
	  	3	  	NA	  	 	100	% 	 	 	100	% 
	32.	  	 Ecologic Energy Solutions, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	33.	  	 Edwards / Mooney & Moses, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	34.	  	 EMPER Holdings, LLC
	  	 IBHL A Holding Company, Inc.

IBHL B Holding Company, Inc.
	  	1
 2
	  	 NA

NA
	  	 
 
	50
 50
	% 
 % 
	 	 
 
	50
 50
	% 
 % 

	35.	  	 Fiberclass Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	36.	  	 Fort Wayne Urethane, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	37.	  	 Garage Door Systems, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	38.	  	 Gold Insulation, Inc.
	  	 Installed Building Products, LLC
	  	R-2	  	NA	  	 	100	% 	 	 	100	% 
	39.	  	 Gold Star Insulation, L.P.
	  	 Installed Building Products, LLC

Gold Insulation, Inc.
	  	2
 3
	  	NA	  	 
 
	99
 1
	% 
 % 
	 	 
 
	99
 1
	% 
 % 

	40.	  	 G-T-G,
LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	41.	  	 Horizon Electric Services, LLC
	  	 Installed Building Solutions II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	42.	  	 Hinkle Insulation & Drywall Company, Incorporated
	  	 Installed Building Products II, LLC
	  	2	  	1,000	  	 	100	% 	 	 	100	% 
	43.	  	 IBHL A Holding Company, Inc.
	  	 Installed Building Products, Inc.
	  	1
 2
	  	 100

100
	  	 	100	% 	 	 	100	% 
	44.	  	 IBHL B Holding Company, Inc.
	  	 Installed Building Products, Inc.
	  	1
 2
	  	 100

100
	  	 	100	% 	 	 	100	% 
	45.	  	 IBHL II-A Holding Company, Inc.
	  	 Installed Building Products, Inc.
	  	1	  	100	  	 	100	% 	 	 	100	% 
	46.	  	 IBHL II-B Holding Company, Inc.
	  	 Installed Building Products, Inc.
	  	1	  	100	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	47.	  	 IBP Arctic Express, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	48.	  	 IBP Asset, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	49.	  	 IBP Asset II, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	50.	  	 IBP Corporation Holdings, Inc.
	  	 IBHL A Holding Company, Inc.
	  	1	  	100	  	 	50	% 	 	 	50	% 
		  		  	 IBHL B Holding Company, Inc.
	  	2	  	100	  	 	50	% 	 	 	50	% 
	51.	  	 IBP Exteriors, Inc.
	  	 Installed Building Products, LLC
	  	R-41	  	10	  	 	100	% 	 	 	100	% 
	52.	  	 IBP Holdings, LLC
	  	 IBHL A Holding Company, Inc.
	  	1 Priority	  	15 Priority Units	  	 	50	% 	 	 	50	% 
		  		  	 IBHL B Holding Company, Inc.
	  	2 Priority	  	15 Priority Units	  	 	50	% 	 	 	50	% 
	53.	  	 IBP Holdings II, LLC
	  	 IBHL II-A Holding Company, Inc.

IBHL II-B Holding Company, Inc.
	  	17 Common
 18 Common
	  	 1 Unit

1 Unit
	  	 
 
	50
 50
	% 
 % 
	 	 
 
	50
 50
	% 
 % 

	54.	  	 IBP of Mansfield, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	55.	  	 IBP of Oklahoma, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	56.	  	 IBP of San Antonio, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	57.	  	 IBP of Toledo, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	58.	  	 IBP Texas Assets I, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	59.	  	 IBP Texas Assets II, LLC
	  	 Installed Building Products II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	60.	  	 IBP Texas Assets III, LLC
	  	 Installed Building Products II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	61.	  	 Installed Building Products, LLC
	  	 IBP Holdings, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	62.	  	 Installed Building Products II, LLC
	  	 IBP Holdings II, LLC
	  	2	  	NA	  	 	100	% 	 	 	100	% 
	63.	  	 Installed Building Products of Houston, LLC
	  	 IBP Texas Assets II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	64.	  	 Installed Building Products – Portland, LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	65.	  	 Installed Building Solutions II, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	66.	  	 Insulation Northwest, LLC
	  	 Installed Building Products II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	67.	  	 Insulation Wholesale Supply, LLC
	  	 IBP Corporation Holdings, Inc.
	  	5	  	NA	  	 	100	% 	 	 	100	% 
	68.	  	 InsulVail, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	69.	  	 Key Insulation of Austin, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	70.	  	 Key Insulation of San Antonio, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	71.	  	 Lakeside Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	72.	  	 Layman Brothers Insulation, LLC
	  	 Installed Building Products II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	73.	  	 LKS Transportation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	74.	  	 Loveday Insulation, LLC
	  	 Installed Building Products II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	75.	  	 M&D Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	76.	  	 MAP Installed Building Products of Sagamore, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	77.	  	 MAP Installed Building Products of Seekonk, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	78.	  	 Marv’s Insulation, Inc.
	  	 Installed Building Products, LLC
	  	1005	  	5,000	  	 	100	% 	 	 	100	% 
	79.	  	 Metro Home Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	80.	  	 Mid South Construction and Building Products, Inc.
	  	 TCI Contracting, LLC
	  	6	  	875	  	 	100	% 	 	 	100	% 
		  		  		  	8	  	125	  				 			

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	81.	  	 MIG Building Systems, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	82.	  	 MIG Building Systems of East Syracuse, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	83.	  	 Momper Insulation of Crown Point, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	84.	  	 Momper Insulation of Elkhart, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	85.	  	 Momper Insulation of Fort Wayne, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	86.	  	 Northwest Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	87.	  	 OJ Insulation Holdings, Inc.
	  	 Installed Building Products, LLC
	  	R-1	  	100	  	 	100	% 	 	 	100	% 
	88.	  	 OJ Insulation, L.P.
	  	 OJ Insulation Holdings, Inc.
	  	1	  	NA	  	 	1	% 	 	 	1	% 
		  		  	 Installed Building Products, LLC
	  	2	  		  	 	99	% 	 	 	99	% 
	89.	  	 Pacific Partners Insulation North, a BDI Company, LLC
	  	 IBP Corporation Holdings, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	90.	  	 Pacific Partners Insulation South, a BDI Company, LLC
	  	 IBP Corporation Holdings, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	91.	  	 Parker Insulation and Building Products, LLC
	  	 IBP Texas Assets III, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	92.	  	 PEG, LLC
	  	 IBP Texas Assets III, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	93.	  	 RaJan, LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	94.	  	 Rockford Insulation, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	95.	  	 Sierra Insulation Contractors II, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	96.	  	 Southern Insulators, LLC
	  	 IBP Texas Assets I, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	97.	  	 Spec 7 Insulation Co., LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	98.	  	 Superior Insulation Services, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	99.	  	 Superior Insulation, LLC
	  	 IBP Asset, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	100.	  	 TCI Contracting of Charleston, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	101.	  	 TCI Contracting of Hilton Head, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	102.	  	 TCI Contracting of Kentucky, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	103.	  	 TCI Contracting of Memphis, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	104.	  	 TCI Contracting of Nashville, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 

																	
	 	  	 Issuer
	  	 Record Owner
	  	Cert. No.	  	 No. Shares/

Interest
	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	105.	  	 TCI Contracting of the Gulf, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	106.	  	 TCI Contracting, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	107.	  	 Thermal Control Insulation, LLC
	  	 TCI Contracting, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	108.	  	 Tidewater Insulators, LLC
	  	 Installed Building Products II, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	109.	  	 Town Building Systems, LLC
	  	 Installed Building Products, LLC
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	110.	  	 Trilok Industries, Inc.
	  	 EMPER Holdings, LLC
	  	7	  	500	  	 	100	% 	 	 	100	% 
	111.	  	 U.S. Insulation Corp.
	  	 Installed Building Products, LLC
	  	21	  	10,150	  	 	100	% 	 	 	100	% 
	112.	  	 Water-Tite Company, LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 
	113.	  	 Wilson Insulation Company, LLC
	  	 IBP Exteriors, Inc.
	  	1	  	NA	  	 	100	% 	 	 	100	% 

 PLEDGED DEBT SECURITIES 
  

	1.	Promissory Note dated April 11, 2016 in the original principal amount of $16,800,000 issued by IBP Exteriors, Inc. to Installed Building Products, LLC. 

 Schedule III to the 

Security Agreement 
 INTELLECTUAL
PROPERTY 
 United States Trademarks: 
  

							
	 TRADEMARK & DESIGN
	  	REG. NUMBER	  	REG. DATE	  	 OWNER

	TCI	  	3,602,240	  	4/7/2009	  	TCI Contracting, LLC
				
	TOTAL COMFORT INSTALLATIONS	  	3,602,245	  	4/7/2009	  	TCI Contracting, LLC
				
	TCI TOTAL COMFORT INSTALLATIONS & DESIGN	  	3,602,243	  	4/7/2009	  	TCI Contracting, LLC
				
	BUILDERS ENERGY RATER & DESIGN	  	4,483,382	  	2/18/2014	  	BER Energy Services, LLC
				
	BUILDERS ENERGY RATER	  	4,483,381	  	2/18/2014	  	BER Energy Services, LLC
				
	CE3 & DESIGN	  	4,331,706	  	5/7/2013	  	BER Energy Services, LLC
				
	WHAT’S IN YOUR WALLS?	  	4,808,295	  	9/8/2015	  	IBP TEXAS ASSETS I, LLC
				
	KEY INSULATION & DESIGN	  	4,295,442	  	2/26/2013	  	IBP Texas Assets I, LLC
				
	KEY INSULATION	  	4,289,046	  	2/12/2013	  	IBP Texas Assets I, LLC

 United State Patents: 

None 
 United States Copyrights: 

 

							
	 Copyright Title
	  	 Registration

Number
	  	 Registration

Date
	  	 Owner

	 None
	  		  		  	

 Schedule IV to the 

Security Agreement 
 COMMERCIAL TORT
CLAIMS 
 None 

 Exhibit I to the 

Security Agreement 
 ABL COPYRIGHT
SECURITY AGREEMENT, dated as of [_], 20[_] (this “Agreement”), among [_] (the “Grantor”) and SUNTRUST BANK, as Administrative Agent (in such capacity, the “Administrative Agent”). 

Reference is made to (a) the Credit Agreement dated as of April 13, 2017 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”) among INSTALLED BUILDING PRODUCTS, INC., as Borrower, the other parties from time to time party hereto and SUNTRUST BANK, as Administrative Agent and (b) the Security Agreement dated of
April 13, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”) among the Borrower, the other Grantors from time to time party thereto, and the Administrative Agent. The
Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The Grantor is an Affiliate of the Borrower and is willing to execute and deliver this Agreement in order to induce the
Lenders to make additional Loans and as consideration for Loans previously made. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Security
Agreement. The rules of construction specified in Section 1.01(b) of the Security Agreement also apply to this Agreement. 
 SECTION
2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Obligations, the Grantor hereby grants to the Administrative Agent, its successors and assigns, for the benefit of the Secured
Creditors, a security interest in all of such Grantor’s right, title and interest in, to and under the Copyrights listed on Schedule I attached hereto (collectively, the “Copyright Collateral”). This Agreement is not to
be construed as an assignment of any copyright or copyright application. 
 SECTION 3. Security Agreement and ABL/Term Intercreditor
Agreement. The Grantor hereby acknowledges and affirms that the rights and remedies of the Administrative Agent with respect to the Copyright Collateral are more fully set forth in the Security Agreement, the terms and provisions of which are
hereby incorporated herein by reference as if fully set forth herein. In the event of any conflict between the terms of this Agreement and the Security Agreement, the terms of the Security Agreement shall govern. Notwithstanding anything herein to
the contrary, (i) the Liens and security interests granted to the Administrative Agent for the benefit of the Secured Creditors pursuant to the Security Agreement and (ii) the exercise of any right or remedy by the Administrative Agent
thereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral, are subject to the provisions of the ABL/Term Intercreditor Agreement. In the event of any conflict between the terms of the
ABL/Term Intercreditor Agreement and the terms of this Agreement, the terms of the ABL/Term Intercreditor Agreement shall govern. 
 SECTION
4. [Reserved]. 

 SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic
transmission shall be effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 6. Governing Law. This
Agreement shall be construed in accordance with and governed by the laws of the State of New York. 
 [Remainder of Page Intentionally
Left Blank] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	 [    ], as Grantor

		
	 By
	 	  

		 	 Name:

		 	 Title:

	
	 SunTrust Bank, as Administrative Agent

		
	 By:
	 	  

	 Name:

	 Title:

		
	 By:
	 	  

	 Name:

	 Title:

  
 [Signature Page to
Copyright Security Agreement] 

 Schedule I 

 Exhibit II to the 

Security Agreement 
 ABL PATENT
SECURITY AGREEMENT, dated as of [    ], 20[    ] (this “Agreement”), among [    ] (the “Grantor”) and SunTrust Bank, as Administrative Agent (in such
capacity, the “Administrative Agent”). 
 Reference is made to (a) the Credit Agreement dated as of April 13,
2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) among INSTALLED BUILDING PRODUCTS, INC., as Borrower, the other parties from time to time party hereto and SUNTRUST BANK, as
Administrative Agent and (b) the Security Agreement dated of April 13, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”) among the Borrower, the other Grantors from
time to time party thereto and the Administrative Agent. The Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The Grantor is an Affiliate of the Borrower and is willing to
execute and deliver this Agreement in order to induce the Lenders to make additional Loans and as consideration for Loans previously made. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Security
Agreement. The rules of construction specified in Section 1.01(b) of the Security Agreement also apply to this Agreement. 
 SECTION
2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Obligations, the Grantor hereby grants to the Administrative Agent, its successors and assigns, for the benefit of the Secured
Creditors, a security interest in all of such Grantor’s right, title and interest in, to the Patents listed on Schedule I attached hereto (the “Patent Collateral”). This Agreement is not to be construed as an assignment
of any patent or patent application. 
 SECTION 3. Security Agreement and ABL/Term Intercreditor Agreement. The Grantor hereby
acknowledges and affirms that the rights and remedies of the Administrative Agent with respect to the Patent Collateral are more fully set forth in the Security Agreement, the terms and provisions of which are hereby incorporated herein by reference
as if fully set forth herein. In the event of any conflict between the terms of this Agreement and the Security Agreement, the terms of the Security Agreement shall govern. Notwithstanding anything herein to the contrary, (i) the Liens and
security interests granted to the Administrative Agent for the benefit of the Secured Creditors pursuant to the Security Agreement and (ii) the exercise of any right or remedy by the Administrative Agent thereunder or the application of
proceeds (including insurance proceeds and condemnation proceeds) of any Collateral, are subject to the provisions of the ABL/Term Intercreditor Agreement. In the event of any conflict between the terms of the ABL/Term Intercreditor Agreement and
the terms of this Agreement, the terms of the ABL/Term Intercreditor Agreement shall govern. 
 SECTION 4. [Reserved]. 

 SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic
transmission shall be effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 6. Governing Law. This
Agreement shall be construed in accordance with and governed by the laws of the State of New York. 
 [Remainder of Page Intentionally
Left Blank] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	[_], as Grantor
	
	By                                    
                                         
                    
		 	Name:
		 	Title:
	
	SunTrust Bank, as Administrative Agent
	
	By:                                   
                                         
                    
	Name:
	Title:
	
	By:                                   
                                         
                    
	Name:
	Title:

  
 [Signature Page to Patent
Security Agreement] 

 Schedule I 

 Exhibit III to the 

Security Agreement 
 ABL TRADEMARK
SECURITY AGREEMENT, dated as of [_], 20[_] (this “Agreement”), among [_] (the “Grantor”) and SunTrust Bank, as Administrative Agent (in such capacity, the “Administrative Agent”). 

Reference is made to (a) the Credit Agreement dated as of April 13, 2017 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”) among INSTALLED BUILDING PRODUCTS, INC. as Borrower, the other parties from time to time party hereto and SUNTRUST BANK, as Administrative Agent and (b) the Security Agreement dated of
April 13, 2017 (as amended, restated, supplemented or otherwise modified from time to time, the “Security Agreement”) among the Borrower, the other Grantors from time to time party thereto and the Administrative Agent. The
Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The Grantor is an Affiliate of the Borrower and is willing to execute and deliver this Agreement in order to induce the
Lenders to make additional Loans and as consideration for Loans previously made. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Security
Agreement. The rules of construction specified in Section 1.01(b) of the Security Agreement also apply to this Agreement. 
 SECTION
2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Obligations, the Grantor hereby grants to the Administrative Agent, its successors and assigns, for the benefit of the Secured
Creditors, a security interest (the “Security Interest”) in all of such Grantor’s right, title and interest in, to and under the Trademarks listed on Schedule I attached hereto (the “Trademark
Collateral”). This Agreement is not to be construed as an assignment of any trademark or trademark application. Notwithstanding anything herein to the contrary, the Trademark Collateral shall not include, and in no event shall the Security
Interest attach to, any intent-to-use trademark applications filed in the United States Patent and Trademark Office, pursuant to Section 1(b) of the Lanham Act, 15
U.S.C. Section 1051, prior to the accepted filing of a “Statement of Use” and issuance of a “Certificate of Registration” pursuant to Section 1(d) of the Lanham Act or an accepted filing of an “Amendment to Allege
Use” whereby such intent-to-use trademark application is converted to a “use in commerce” application pursuant to Section 1(c) of the Lanham Act. 

SECTION 3. [Reserved]. 

SECTION 4. Security Agreement and ABL/Term Intercreditor Agreement. The Grantor hereby acknowledges and affirms that the rights and
remedies of the Administrative Agent with respect to the Trademark Collateral are more fully set forth in the Security Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the
event of any conflict between the terms of this Agreement and the Security Agreement, the terms of the Security Agreement shall govern. Notwithstanding 

 
anything herein to the contrary, (i) the Liens and security interests granted to the Administrative Agent for the benefit of the Secured Creditors pursuant to the Security Agreement and
(ii) the exercise of any right or remedy by the Administrative Agent thereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral, are subject to the provisions of the ABL/Term
Intercreditor Agreement. In the event of any conflict between the terms of the ABL/Term Intercreditor Agreement and the terms of this Agreement, the terms of the ABL/Term Intercreditor Agreement shall govern. 

SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be effective as delivery
of a manually signed counterpart of this Agreement. 
 SECTION 6. Governing Law. This Agreement shall be construed in accordance with
and governed by the laws of the State of New York. 
 [Remainder of Page Intentionally Left Blank] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
  

			
	[_], as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	SunTrust Bank, as Administrative Agent
		
	By:	 	  

	Name:
	Title:
		
	By:	 	  

	Name:
	Title:

 [Signature Page to Trademark Security Agreement] 

 Schedule IEX-10.6

 Exhibit 10.6 

TERM GUARANTEE AGREEMENT 
 dated
as of 
 April 13, 2017 

among 
 THE GUARANTORS PARTY
HERETO 
 and 
 ROYAL BANK OF
CANADA, 
 as Term Collateral Agent 

 TABLE OF CONTENTS 
  

					
	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	 
		
	 SECTION 1.01. Credit Agreement
	  	 	1	 
		
	 SECTION 1.02. Other Defined Terms
	  	 	1	 
		
	 ARTICLE II THE GUARANTEES
	  	 	3	 
		
	 SECTION 2.01. Guarantee
	  	 	3	 
		
	 SECTION 2.02. Guarantee of Payment; Continuing Guarantee
	  	 	3	 
		
	 SECTION 2.03. No Limitations
	  	 	3	 
		
	 SECTION 2.04. Reinstatement
	  	 	5	 
		
	 SECTION 2.05. Agreement to Pay; Subrogation
	  	 	5	 
		
	 SECTION 2.06. Information
	  	 	5	 
		
	 SECTION 2.07. Payments Free of Taxes
	  	 	6	 
		
	 ARTICLE III INDEMNITY, SUBROGATION AND SUBORDINATION
	  	 	6	 
		
	 SECTION 3.01. Indemnity and Subrogation
	  	 	6	 
		
	 SECTION 3.02. Contribution and Subrogation
	  	 	6	 
		
	 SECTION 3.03. Subordination
	  	 	7	 
		
	 ARTICLE IV
	  	 	7	 
		
	 ARTICLE IV REPRESENTATINS AND WARRANTIES
	  	 	7	 
		
	 ARTICLE V MISCELLANEOUS
	  	 	7	 
		
	 SECTION 5.01. Notices
	  	 	7	 
		
	 SECTION 5.02. Waivers; Amendment
	  	 	8	 
		
	 SECTION 5.03. Term Collateral Agent’s Fees and Expenses; Indemnification
	  	 	8	 
		
	 SECTION 5.04. Successors and Assigns
	  	 	10	 
		
	 SECTION 5.05. Survival of Agreement
	  	 	10	 
		
	 SECTION 5.06. Counterparts; Effectiveness; Several Agreement
	  	 	10	 
		
	 SECTION 5.07. Severability
	  	 	11	 
		
	 SECTION 5.08. Right of Set-Off
	  	 	11	 
		
	 SECTION 5.09. Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service
of Process Agent
	  	 	11	 
		
	 SECTION 5.10. WAIVER OF JURY TRIAL
	  	 	12	 
		
	 SECTION 5.11. Headings
	  	 	12	 

  
 i 

					
	 SECTION 5.12. Termination or Release
	  	 	12	 
		
	 SECTION 5.13. Additional Guarantors
	  	 	13	 
		
	 SECTION 5.14. Keepwell
	  	 	13	 

  

  
 ii 

 TERM GUARANTEE AGREEMENT dated as of April 13, 2017 (as amended, restated, supplemented or
otherwise modified from time to time, this “Agreement”) among the Guarantors from time to time party hereto and ROYAL BANK OF CANADA, as Term Term Collateral Agent, on behalf of itself and the other Secured Parties (in such
capacity, the “Term Collateral Agent”). 
 Reference is made to (i) the Term Loan Credit Agreement dated as of the
date hereof (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among INSTALLED BUILDING PRODUCTS, INC., a Delaware corporation (the “Borrower”), the Lenders from time to time
party thereto and ROYAL BANK OF CANADA, as Term Administrative Agent, and (ii) the Term Collateral Agreement dated as of the date hereof (as amended, restated, supplemented or otherwise modified from time to time, the “Collateral
Agreement”), among the Borrower, the other grantors party thereto and the Term Collateral Agent. The Lenders have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations
of the Lenders to extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. The Guarantors are affiliates of the Borrower, will derive substantial benefits from the extension of credit to the Borrower
pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders to extend such credit. Accordingly, the parties hereto agree as follows: 

ARTICLE I 

DEFINITIONS  

SECTION 1.01. Credit Agreement. (a) Capitalized terms used in this Agreement (including in the introductory paragraph hereto) and
not otherwise defined herein have the meanings specified in the Credit Agreement. 
 (b) The rules of construction specified in
Section 1.03 of the Credit Agreement also apply to this Agreement, mutatis mutandis.  
 SECTION 1.02. Other Defined
Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “Agreement” has the meaning
assigned to such term in the preamble to this Agreement. 
 “Borrower” has the meaning assigned to such term in the
introductory paragraph to this Agreement. 
 “Claiming Party” has the meaning assigned to such term in Section 3.02.

 “Contributing Party” has the meaning assigned to such term in Section 3.02. 

“Credit Agreement” has the meaning assigned to such term in the introductory paragraph to this Agreement. 

 “Excluded Subsidiary” means (a) any Subsidiary that is a Non-Wholly Owned
Subsidiary of the Borrower (for so long as such Subsidiary remains a Non-Wholly Owned Subsidiary), (b) each Subsidiary listed on Schedule I, (c) any Foreign Subsidiary, (d) any Subsidiary that is prohibited by any applicable
contractual obligation existing on the Effective Date or on the date any such Subsidiary is acquired or organized (as long as, in the case of an acquisition of a subsidiary, such prohibition in respect of such contract did not arise as part of such
acquisition) or any Requirement of Law from guaranteeing or granting Liens to secure the Secured Obligations (and for so long as such restriction or any replacement or renewal thereof is in effect) or which would require any Governmental Approval to
guarantee or grant a Lien to secure the Secured Obligations (for so long as such Governmental Approval has not been received) or to the extent that a guarantee or grant by such Subsidiary could result in material adverse tax consequences as
reasonably determined by the Borrower, (e) any Immaterial Subsidiary, (f) any other Subsidiary with respect to which, in the reasonable judgment of the Borrower and the Term Administrative Agent, the cost or other consequences of providing
a Guarantee of the Secured Obligations shall be excessive in view of the benefits to be obtained by the Secured Parties therefrom, (g) any (x) Subsidiary that is a CFC or (y) CFC Holdco, (h) each Unrestricted Subsidiary,
(i) any captive insurance company, (j) any non-for-profit Subsidiaries and (k) special purpose securitization vehicles; provided, that upon notice to the Term Administrative Agent, the Borrower may at any time and in its sole
discretion deem that any Restricted Subsidiary, or to the extent reasonably acceptable to the Term Administrative Agent, any Foreign Subsidiary, shall not be an Excluded Subsidiary for purposes of this Agreement and the other Loan Documents. 

“Guarantors” means the Subsidiaries of the Borrower identified as such on the signature page hereto and each other Subsidiary
that becomes a party to this Agreement as a Guarantor on or after the Effective Date pursuant to Section 5.13; provided that if a Subsidiary is released from its obligations as a Guarantor hereunder as provided in Section 5.12(b),
such Subsidiary shall cease to be a Guarantor hereunder effective upon such release. For the avoidance of doubt, Guarantors are referred to as “Subsidiary Loan Parties” in the Credit Agreement. 

“Qualified ECP Loan Party” means, in respect of any Secured Swap Obligation, each Loan Party that has total assets exceeding
$10,000,000 at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Secured Swap Obligation or such other person as constitutes an “eligible contract participant” under the
Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity
Exchange Act. 
 “Supplement” means an instrument in the form of Exhibit A hereto, or any other form approved by the
Term Collateral Agent, and in each case reasonably satisfactory to the Term Collateral Agent. 
 “Term Collateral Agent”
has the meaning assigned to such term in the introductory paragraph to this Agreement. 

  
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 ARTICLE II 

THE GUARANTEES  

SECTION 2.01. Guarantee. Each Guarantor irrevocably and unconditionally guarantees to each of the Secured Parties, jointly with the
other Guarantors and severally, the due and punctual payment and performance of the Secured Obligations. Each Guarantor further agrees that the Secured Obligations may be extended or renewed, in whole or in part, or amended or modified, without
notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal, or amendment or modification, of any of the Secured Obligations. Each Guarantor waives presentment to,
demand of payment from and protest to the Borrower or any other Loan Party of any of the Secured Obligations, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. Notwithstanding anything to the contrary
contained herein, the obligations of each Guarantor hereunder at any time shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance as a fraudulent transfer or conveyance
under Section 548 of the Bankruptcy Code or any comparable provisions of any other applicable law, in each case to the extent (if any) applicable to such Guarantor. 

SECTION 2.02. Guarantee of Payment; Continuing Guarantee. Each Guarantor further agrees that its guarantee hereunder constitutes a
guarantee of payment when due (whether or not any bankruptcy or similar proceeding shall have stayed the accrual of collection of any of the Secured Obligations or operated as a discharge thereof) and not merely of collection, and waives any right
to require that any resort be had by the Term Collateral Agent or any other Secured Party to any security held for the payment of any of the Secured Obligations or to any balance of any deposit account or credit on the books of the Term Collateral
Agent or any other Secured Party in favor of the Borrower, any other Loan Party or any other Person. Each Guarantor agrees that its guarantee hereunder is continuing in nature and applies to all of the Secured Obligations, whether currently existing
or hereafter incurred. 
 SECTION 2.03. No Limitations. (a) Except for the termination or release of a Guarantor’s
obligations hereunder as expressly provided in Section 5.12, the obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release,
surrender, alteration or compromise of any of the Secured Obligations, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever by reason of the invalidity, illegality or unenforceability of any of
the Secured Obligations, any impossibility in the performance of any of the Secured Obligations or otherwise. Without limiting the generality of the foregoing, except for the termination or release of its obligations hereunder as expressly
provided in Section 5.12, the obligations of each Guarantor hereunder shall not be discharged or impaired or otherwise affected by: 

(i) the failure of any Secured Party or any other Person to assert any claim or demand or to enforce any right or remedy under the provisions
of any Loan Document or otherwise; 

  
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 (ii) any rescission, waiver, amendment, restatement or modification of, or any release from any
of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; 

(iii) the release of, or any impairment of or failure to perfect any Lien on, any security held by any Secured Party for any of the Secured
Obligations; 
 (iv) any default, failure or delay, willful or otherwise, in the performance of any of the Secured Obligations; 

(v) any other act or omission that may or might in any manner or to any extent vary the risk of any Guarantor or otherwise operate as a
discharge of any Guarantor as a matter of law or equity (other than the payment in full in cash of all the Secured Obligations (other than contingent indemnification obligations not yet accrued and payable as to which no claim has been made)); 

(vi) any illegality, lack of validity or lack of enforceability of any of the Secured Obligations; 

(vii) any change in the corporate existence, structure or ownership of any Loan Party, or any insolvency, bankruptcy, reorganization or other
similar proceeding affecting any Loan Party or its assets or any resulting release or discharge of any of the Secured Obligations; 
 (viii)
the existence of any claim, set-off or other rights that any Guarantor may have at any time against the Borrower, the Term Collateral Agent, any other Secured Party or any other Person, whether in connection with the Credit Agreement, the other Loan
Documents or any unrelated transaction; 
 (ix) this Agreement having been determined (on whatsoever grounds) to be invalid, non-binding or
unenforceable against any other Guarantor ab initio or at any time after the Effective Date; 
 (x) the fact that any Person that,
pursuant to the Loan Documents, was required to become a party hereto may not have executed or is not effectually bound by this Agreement, whether or not this fact is known to the Secured Parties; 

(xi) any action permitted or authorized hereunder; or 

(xii) any other circumstance (including any statute of limitations), or any existence of or reliance on any representation by the Term
Collateral Agent, any Secured Party or any other Person, that might otherwise constitute a defense to, or a legal or equitable discharge of, the Borrower, any Guarantor or any other guarantor or surety (other than the payment in full in cash of all
the Secured Obligations (other than contingent indemnification obligations not yet accrued and payable as to which no claim has been made)). 

Each Guarantor expressly authorizes the Secured Parties to take and hold security in accordance with the terms of the Loan Documents for the
payment and performance of the Secured Obligations, to exchange, waive or release any or all such security (with or without consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole
discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Secured Obligations, all without affecting the obligations of any Guarantor hereunder. 

  
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 (b) To the fullest extent permitted by applicable law, each Guarantor waives any defense based on
or arising out of any defense of the Borrower or any other Loan Party or the unenforceability of the Secured Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Borrower or any other Loan Party,
other than the payment in full in cash of all the Secured Obligations (other than contingent indemnification obligations not yet accrued and payable as to which no claim has been made). The Term Collateral Agent and the other Secured Parties may, at
their election and in accordance with the terms of the Loan Documents, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise
or adjust any part of the Secured Obligations, make any other accommodation with the Borrower or any other Loan Party or exercise any other right or remedy available to them against the Borrower or any other Loan Party, without affecting or
impairing in any way the liability of any Guarantor hereunder except to the extent the Secured Obligations (other than contingent indemnification obligations not yet accrued and payable as to which no claim has been made) have been paid in full in
cash. To the fullest extent permitted by applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or
subrogation or other right or remedy of such Guarantor against the Borrower or any other Loan Party, as the case may be, or any security. 

SECTION 2.04. Reinstatement. Each Guarantor agrees that, unless released pursuant to Section 5.12(b), its guarantee hereunder
shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Secured Obligations is rescinded or must otherwise be restored by any Secured Party upon the insolvency, bankruptcy or
reorganization (or any analogous proceeding in any jurisdiction) of the Borrower, any other Loan Party or otherwise. 
 SECTION 2.05.
Agreement to Pay; Subrogation. In furtherance of the foregoing and not in limitation of any other right that the Term Collateral Agent or any other Secured Party has at applicable law or in equity against any Guarantor by virtue hereof, upon
the failure of the Borrower or any other Loan Party to pay any Secured Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will
forthwith pay, or cause to be paid, to the Term Collateral Agent for distribution to the applicable Secured Parties in cash the amount of such unpaid Secured Obligation. Upon payment by any Guarantor of any sums to the Term Collateral Agent as
provided above, all rights of such Guarantor against the Borrower or any other Loan Party arising as a result thereof by way of right of subrogation, contribution, reimbursement, indemnity or otherwise shall in all respects be subject to
Article III. 
 SECTION 2.06. Information. Each Guarantor assumes all responsibility for being and keeping itself informed of
the Borrower’s and each other Loan Party’s financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment of the Secured Obligations and the nature, scope and extent of the risks that such Guarantor
assumes and incurs hereunder, and agrees that none of the Secured Parties will have any duty to advise such Guarantor of information known to it or any of them regarding such circumstances or risks. 

  
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 SECTION 2.07. Payments Free of Taxes. Any and all payments by or on account of any
obligation of any Guarantor hereunder or under any other Loan Document shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes on the same terms and to the same extent that payments by the Borrower are required
to be so made pursuant to the terms of Section 2.17 of the Credit Agreement. The provisions of Section 2.17 of the Credit Agreement shall apply to each Guarantor, mutatis mutandis. 

ARTICLE III 

INDEMNITY, SUBROGATION AND SUBORDINATION  

SECTION 3.01. Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under
applicable law (but subject to Section 3.03) in respect of any payment hereunder, the Borrower agrees that (a) in the event a payment in respect of any obligation of the Borrower shall be made by any Guarantor under this Agreement, the
Borrower shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the extent of such payment and (b) in the event any
assets of any Guarantor shall be sold pursuant to any Term Security Document to satisfy in whole or in part any Secured Obligations owed to any Secured Party, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book
value or the fair market value of the assets so sold. 
 SECTION 3.02. Contribution and Subrogation. Each Guarantor (a
“Contributing Party”) agrees (subject to Section 3.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Secured Obligations or assets of any other Guarantor (other than the Borrower)
shall be sold pursuant to any Term Security Document to satisfy any Secured Obligation owed to any Secured Party and such other Guarantor (the “Claiming Party”) shall not have been fully indemnified as provided in Section 3.01,
the Contributing Party shall indemnify the Claiming Party in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which
the numerator shall be the net worth of the Contributing Party on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, the date of the Supplement executed and delivered by such Guarantor) and the
denominator shall be the aggregate net worth of all the Guarantors on the date hereof (or, in the case of any Guarantor becoming a party hereto pursuant to Section 5.13, such other date). Any Contributing Party making any payment to a Claiming
Party pursuant to this Section 3.02 shall be subrogated to the rights of such Claiming Party under Section 3.01 to the extent of such payment. 

  
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 SECTION 3.03. Subordination. (a) Notwithstanding any provision of this Agreement to
the contrary, all rights of the Guarantors under Sections 3.01 and 3.02 and all other rights of the Guarantors of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the payment in full in
cash of all the Secured Obligations. No failure on the part of the Borrower or any Guarantor to make the payments required by Sections 3.01 and 3.02 (or any other payments required under applicable law or otherwise) shall in any respect limit
the obligations and liabilities of any Guarantor with respect to its obligations hereunder, and each Guarantor shall remain liable for the full amount of the obligations of such Guarantor hereunder. 

(b) Each Guarantor hereby agrees that upon the occurrence and during the continuance of an Event of Default and after notice from the Term
Collateral Agent (provided that no such notice shall be required to be given in the case of any Event of Default arising under Section 7.01(h) or 7.01(i) of the Credit Agreement), all Indebtedness and other monetary obligations owed by
it to, or to it by, any other Guarantor or any other Subsidiary shall be fully subordinated to the payment in full in cash of all the Secured Obligations. 

ARTICLE IV 

REPRESENTATIONS AND WARRANTIES  

Each Guarantor represents and warrants to the Term Collateral Agent and the other Secured Parties that (a) the execution, delivery and
performance by such Guarantor of this Agreement have been duly authorized by all necessary corporate or limited liability or limited partnership action and, if required, action by the holders of such Guarantor’s Equity Interests, and that this
Agreement has been duly executed and delivered by such Guarantor and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation, court protection, administration or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law, and (b) all
representations and warranties set forth in the Credit Agreement as to such Guarantor are true and correct in all material respects; provided that, to the extent such representations and warranties specifically refer to an earlier date, they
are true and correct in all material respects as of such earlier date; provided, further that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language is
true and correct in all respects. 
 ARTICLE V 

MISCELLANEOUS  

SECTION 5.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in writing
and given as provided in Section 9.01 of the Credit Agreement. All communications and notices hereunder to any Guarantor shall be given to it in care of the Borrower as provided in Section 9.01 of the Credit Agreement. 

  
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 SECTION 5.02. Waivers; Amendment. (a) No failure or delay by the Term Collateral
Agent or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Term Collateral Agent and the Lenders hereunder and under the other Loan Documents are
cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be
permitted by paragraph (b) of this Section 5.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan
shall not be construed as a waiver of any Default, regardless of whether the Term Collateral Agent or any Lender may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan
Party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision hereof may
be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Term Collateral Agent and the Guarantor or Guarantors with respect to which such waiver, amendment or modification is to apply, subject to
any consent required in accordance with Section 9.02 of the Credit Agreement; provided that the Term Collateral Agent may, without the consent of any Secured Party, consent to a departure by any Guarantor from any covenant of such
Guarantor set forth herein to the extent such departure is consistent with the authority of the Term Collateral Agent set forth in the definition of the term “Collateral and Guarantee Requirement” in the Credit Agreement. 

SECTION 5.03. Term Collateral Agent’s Fees and Expenses; Indemnification.  

(a) Each Guarantor, jointly with the other Guarantors and severally, agrees to reimburse the Term Collateral Agent for its fees and expenses
incurred hereunder as provided in Section 9.03(a) of the Credit Agreement; provided that each reference therein to the “Borrower” shall be deemed to be a reference to “each Guarantor.” 

(b) Without limitation of its indemnification obligations under the other Loan Documents, each Guarantor, jointly with the other Guarantors and
severally, agrees to indemnify the Term Collateral Agent and the other Indemnitees against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and reasonable and documented or invoiced out-of-pocket fees and
expenses (limited, in the case of (i) legal fees and expenses to the reasonable documented and invoiced out-of-pocket fees and expenses of one counsel for all Indemnitees and, to the extent reasonably determined by the Term Collateral Agent to
be necessary, one firm of local counsel in each relevant jurisdiction (which may include a single special counsel acting in multiple jurisdictions) (and, in the case of an actual conflict of interest, where the Indemnitee affected by such conflict
notifies the Borrower of the existence of such conflict and thereafter retains its own counsel, one additional counsel for the affected Indemnitees similarly situated) for all Indemnitees (which may include a single special counsel acting in
multiple jurisdictions) and (ii) the fees and expenses of any other advisor or consultant, to the reasonable and documented or invoiced out-of-pocket fees and expenses of such advisor or consultant, but solely to the extent that such consultant
or advisor has been retained with the 

  
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Borrower’s consent (such consent not to be unreasonably withheld or delayed), incurred by or asserted against any Indemnitee by any third party or the Borrower or any Subsidiary or any of
their respective Affiliates to the extent arising out of, in connection with, or as a result of, the execution, delivery or performance of this Agreement or any actual or prospective claim, litigation, investigation or proceeding relating to any of
the foregoing, whether brought by a third party or by the Borrower or any Subsidiary and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that
such losses, claims, damages, liabilities, costs or related expenses (w) resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or its Related Parties (as determined by a court of competent jurisdiction in a
final and non-appealable judgment), (x) resulted from a material breach of the Loan Documents by such Indemnitee or its Related Parties (as determined by a court of competent jurisdiction in a final and non-appealable judgment), (y) arise
from disputes between or among Indemnitees (other than claims against an Indemnitee in its capacity or in fulfilling its role as an agent, an arranger or any similar roles under the Loan Documents) that do not involve an act or omission by the
Borrower or any of its Affiliates or (z) any settlement effected without the Borrower’s prior consent, but if settled with the Borrower’s prior consent (such consent not to be unreasonably withheld or delayed), the Borrower will
indemnify and hold harmless each Indemnitee from and against any and all losses, claims, damages, liabilities and expenses by reason of such settlement in accordance with this paragraph; provided further that the Borrower shall not, without
the prior written consent of the applicable Indemnitee (which consent shall not be unreasonably withheld, delayed or conditioned), effect any settlement of any pending or threatened claim, litigation, investigation or proceeding in respect of which
indemnity could have been sought hereunder by such Indemnitee unless (a) such settlement includes a full and unconditional release of such Indemnitee in form and substance reasonably satisfactory to such Indemnitee from all liability on claims
that are the subject matter of such claim, litigation, investigation or proceeding and (b) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of such Indemnitee. 

(c) To the fullest extent permitted by applicable law, no party hereto nor any Affiliate of any party hereto, nor any officer, director,
employee, agent, controlling person, advisor or other representative of the foregoing or any successor or permitted assign of any of the foregoing shall assert and each hereby waives, any claim against any other such Person on any theory of
liability for special, indirect, consequential or punitive damages (as opposed to direct or actual damages, but in any event including, without limitation, any loss of profits, business or anticipated savings) (whether or not the claim therefor is
based on contract, tort or duty imposed by any applicable legal requirement) arising out of, in connection with, or as a result of, or in any way related to, this Agreement or any Loan Document or any agreement or instrument contemplated hereby or
thereby, the Financing Transactions, any Loan or the use of the proceeds thereof and each such Person further agrees not to sue upon any such claim or any such damages, whether or not accrued and whether or not known or suspected to exist in its
favor; provided that the foregoing shall in no event limit the Guarantors’ indemnification obligations under clause (b) above. 

  
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 (d) Notwithstanding anything to the contrary in this Agreement, to the extent permitted by
applicable law, no party hereto or an Indemnitee shall assert, and each hereby waives, any claim against any other Person for any direct or actual damages arising from the use by unintended recipients of information or other materials distributed to
such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems (including the Internet) in connection with this Agreement or the other Loan Documents or the transactions contemplated
hereby or thereby; except to the extent that such direct or actual damages are determined by a court of competent jurisdiction in a final, non-appealable judgment to have resulted from the gross negligence, bad faith or willful misconduct of, or a
material breach of the Loan Documents by, such Indemnitee or its Related Parties. 
 (e) The provisions of this Section 5.03 shall
remain operative and in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions contemplated hereby or thereby, the repayment of any of the Secured Obligations, the
invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document, or any investigation made by or on behalf of any Secured Party. All amounts due under this Section 5.03 shall be payable not later than 10
Business Days after written demand therefore; provided, however, any Indemnitee shall promptly refund an indemnification payment received hereunder to the extent that there is a final judicial determination that such Indemnitee was not
entitled to indemnification with respect to such payment pursuant to this Section 5.03. Any such amounts payable as provided hereunder shall be additional Secured Obligations. 

SECTION 5.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be
deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Guarantor or the Term Collateral Agent that are contained in this Agreement shall bind and inure to the benefit
of their respective successors and assigns. 
 SECTION 5.05. Survival of Agreement. All covenants, agreements, representations and
warranties made by the Loan Parties in this Agreement and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the Secured Parties and shall survive the
execution and delivery of the Loan Documents and the making of any Loans, in each case, in accordance with and subject to the limitations set forth in Section 9.05 of the Credit Agreement. 

SECTION 5.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic
transmission shall be effective as delivery of a manually signed counterpart of this Agreement. This Agreement shall become effective as to any Guarantor when a counterpart hereof executed on behalf of such Guarantor shall have been delivered to the
Term Collateral Agent and a counterpart hereof shall have been executed on behalf of the Term Collateral Agent, and thereafter shall be binding upon such Guarantor and the Term Collateral Agent and their respective permitted successors and assigns,
and shall inure to the benefit of such Guarantor, the Term Collateral Agent and the other Secured Parties and their respective successors and assigns, 

  
 10 

 
except that no Guarantor shall have the right to assign or transfer its rights or obligations hereunder or any interest herein (and any such assignment or transfer shall be void) except as
expressly provided in this Agreement and the Credit Agreement. This Agreement shall be construed as a separate agreement with respect to each Guarantor and may be amended, modified, supplemented, waived or released with respect to any Guarantor
without the approval of any other Guarantor and without affecting the obligations of any other Guarantor hereunder. 
 SECTION 5.07.
Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting
the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 5.08. Right of Set-Off. If an Event of Default shall have occurred and be continuing, each Lender is hereby authorized at any
time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever currency) at any time held and other obligations (in whatever
currency) at any time owing by such Lender to or for the credit or the account of any Guarantor against any of and all the obligations of such Guarantor then due and owing under this Agreement held by such Lender, irrespective of whether or not such
Lender shall have made any demand under this Agreement and although (i) such obligations may be contingent or unmatured and (ii) such obligations are owed to a branch or office of such Lender different from the branch or office holding
such deposit or obligated on such Indebtedness. The applicable Lender shall notify the applicable Guarantor and the Term Collateral Agent of such setoff and application; provided that any failure to give or any delay in giving such notice
shall not affect the validity of any such setoff and application under this Section 5.08. The rights of each Lender and its Affiliates under this Section 5.08 are in addition to other rights and remedies (including other rights of setoff)
that such Lender and its Affiliates may have. 
 SECTION 5.09. Governing Law; Jurisdiction; Consent to Service of Process; Appointment of
Service of Process Agent. (a) This Agreement shall be construed in accordance with and governed by the laws of the State of New York. 

(b) Each party hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme
Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and
determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Term Collateral Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against any
Guarantor or its respective properties in the courts of any jurisdiction. 

  
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 (c) Each party hereto hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this
Section 5.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 5.01. Nothing in
this Agreement will affect the right of any party to this Agreement or any other Loan Document to serve process in any other manner permitted by law. 

(e) Each Guarantor hereby irrevocably designates, appoints and empowers the Borrower as its designee, appointee and agent to receive, accept
and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons, notices and documents that may be served in any such action or proceeding and the Borrower hereby accepts such designation and
appointment. 
 SECTION 5.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.10. 

SECTION 5.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are
not part of this Agreement and shall not affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 5.12. Termination or Release. (a) Subject to Section 2.04, this Agreement and the Guarantees made herein shall
terminate automatically on the Termination Date. 

  
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 (b) The guarantees made herein shall also terminate and be released at the time or times and in
the manner set forth in Section 9.14 of the Credit Agreement. 
 (c) In connection with any termination or release pursuant to paragraph
(a) or (b) of this Section 5.12, the Term Collateral Agent shall execute and deliver to any Loan Party, at such Loan Party’s expense, all documents that such Loan Party shall reasonably request to evidence such termination or
release so long as the applicable Loan Party shall have provided the Term Collateral Agent such certifications or documents as the Term Collateral Agent shall reasonably request in order to demonstrate compliance with this Section 5.12. Any
execution and delivery of documents by the Term Collateral Agent pursuant to this Section 5.12 shall be without recourse to or warranty by the Term Collateral Agent or any other Secured Party. 

SECTION 5.13. Additional Guarantors. Additional Persons may become Guarantors after the date hereof as contemplated by the Credit
Agreement. Upon execution and delivery by the Term Collateral Agent and a Person of a Supplement, any such Person shall become a Guarantor hereunder with the same force and effect as if originally named as such herein. The execution and delivery of
any such instrument shall not require the consent of any other Guarantor hereunder. The rights and obligations of each Guarantor hereunder shall remain in full force and effect notwithstanding the addition of any Person as a party to this Agreement.

 SECTION 5.14. Keepwell. Each Qualified ECP Loan Party, jointly and severally, hereby absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of such Loan Party’s obligations under this Agreement and the other Loan Documents in respect of Secured Swap Obligations
(provided, however, that each Qualified ECP Loan Party shall only be liable under this Section 5.14 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 5.14, or
otherwise under this Agreement or the other Loan Documents, voidable under applicable law, including fraudulent conveyance or fraudulent transfer laws, and not for any greater amount). The obligations of each Qualified ECP Loan Party under this
Section 5.14 shall remain in full force and effect until the Termination Date, in each case, in accordance with and subject to the limitations set forth in Section 9.05 of the Credit Agreement. Each Qualified ECP Loan Party intends that
this Section 5.16 constitute, and this Section 5.14 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the
Commodity Exchange Act. 
 [Signature Pages Follow] 

  
 13 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written. 
 Guarantors: 
  

			
	 ACCURATE INSULATION LLC
 ACCURATE INSULATION
OF
     COLORADO, LLC
 ACCURATE INSULATION
OF
     DELAWARE, LLC
 ACCURATE INSULATION
OF UPPER
     MARLBORO, LLC
 ALL
CONSTRUCTION SERVICES, LLC
 ALL IN ONE & MOORE BUILDING

    SYSTEMS, LLC
 ALPHA INSULATION &
WATER
     PROOFING COMPANY
 ALPHA
INSULATION & WATER PROOFING, INC.
 ALPINE INSULATION I, LLC

AMERICAN INSULATION & ENERGY

    SERVICES, LLC
 ANY SEASON INSULATION,
LLC
 APPLE VALLEY INSULATION, A BDI

    COMPANY, INC.
 B-ORGANIZED INSULATION,
LLC
 BAYTHERM INSULATION, LLC
 BDI INSULATION OF IDAHO FALLS,
INC.
 BDI INSULATION OF SALT LAKE, L.L.C.
 BER ENERGY SERVICES,
LLC
 BIG CITY INSULATION, INC.
 BIG CITY INSULATION OF IDAHO,
INC.
 BROKEN DRUM OF BAKERSFIELD, INC.
 BROKEN DRUM INSULATION
VISALIA, INC.
 BUILDERS INSTALLED PRODUCTS OF MAINE, LLC

BUILDERS INSTALLED PRODUCTS OF NEW HAMPSHIRE, LLC
	  	 BUILDERS INSTALLED PRODUCTS OF

    NEW YORK, LLC
 BUILDERS INSTALLED PRODUCTS
OF
     VERMONT, LLC
 BUILDING MATERIALS
FINANCE, INC.
 CLS INSULATION, LLC
 CORNHUSKER INSULATION,
LLC
 C.Q. INSULATION, INC.
 EAST COAST INSULATORS II, LLC

EASTERN CONTRACTOR SERVICES
     LIMITED
LIABILITY COMPANY
 ECOLOGIC ENERGY SOLUTIONS, LLC

EDWARDS/MOONEY & MOSES, LLC
 EMPER HOLDINGS, LLC

FIBERCLASS INSULATION, LLC
 FORT WAYNE URETHANE, LLC

GARAGE DOOR SYSTEMS, LLC
 GOLD INSULATION, INC.

G-T-G, LLC
 HINKLE INSULATION & DRYWALL

    COMPANY, INCORPORATED
 HORIZON ELECTRIC
SERVICES, LLC
 IBHL A HOLDING COMPANY, INC.
 IBHL B HOLDING
COMPANY, INC.
 IBHL II-A HOLDING COMPANY, INC.
 IBHL II-B
HOLDING COMPANY, INC.
 IBP ARCTIC EXPRESS, LLC
 IBP ASSET,
LLC
 IBP ASSET II, LLC
 IBP CORPORATION HOLDINGS, INC.

IBP EXTERIORS, INC.
 IBP HOLDINGS, LLC

IBP HOLDINGS II, LLC
 IBP OF MANSFIELD, LLC

IBP OF OKLAHOMA, LLC

  

									
	By:	 	 /s/ Michael T. Miller
	 		 	By:	 	 /s/ Michael T. Miller

		 	Michael T. Miller	 		 		 	Michael T. Miller
		 	 Executive Vice President and Chief
 Financial
Officer
	 		 		 	 Executive Vice President and Chief
 Financial
Officer

  
 [Signature Page to Term
Guarantee Agreement] 

			
	 IBP OF SAN ANTONIO, LLC
 IBP OF TOLEDO, LLC

IBP TEXAS ASSETS I, LLC
 IBP TEXAS ASSETS II, LLC

IBP TEXAS ASSETS III, LLC
 INSTALLED BUILDING PRODUCTS, LLC

INSTALLED BUILDING PRODUCTS II,
     LLC

INSTALLED BUILDING PRODUCTS OF
     HOUSTON,
LLC
 INSTALLED BUILDING PRODUCTS -

    PORTLAND, LLC
 INSTALLED BUILDING
SOLUTIONS II, LLC
 INSULATION NORTHWEST, LLC
 INSULATION
WHOLESALE SUPPLY, LLC
 INSULVAIL, LLC
 KEY INSULATION OF
AUSTIN, LLC
 KEY INSULATION OF SAN ANTONIO,

    LLC
 LAKESIDE INSULATION, LLC

LAYMAN BROTHERS INSULATION, LLC
 LKS TRANSPORTATION, LLC

LOVEDAY INSULATION, LLC
 M&D INSULATION, LLC

MAP INSTALLED BUILDING PRODUCTS
     OF
SAGAMORE, LLC
 MAP INSTALLED BUILDING PRODUCTS

    OF SEEKONK, LLC
 MARV’S INSULATION,
INC.
 METRO HOME INSULATION, LLC
 MID SOUTH CONSTRUCTION
AND
     BUILDING PRODUCTS, INC.
 MIG
BUILDING SYSTEMS, LLC
 MIG BUILDING SYSTEMS OF EAST

    SYRACUSE, LLC
 MOMPER INSULATION OF
CROWN
     POINT, LLC
	  	 MOMPER INSULATION OF ELKHART,

    LLC
 MOMPER INSULATION OF FORT

    WAYNE, LLC
 NORTHWEST INSULATION, LLC

OJ INSULATION HOLDINGS, INC.
 PACIFIC PARTNERS INSULATION

    NORTH, A BDI COMPANY, LLC
 PACIFIC
PARTNERS INSULATION
     SOUTH, A BDI COMPANY, LLC

PARKER INSULATION AND BUILDING
     PRODUCTS,
LLC
 PEG, LLC
 RAJAN, LLC

ROCKFORD INSULATION, LLC
 SIERRA INSULATION CONTRACTORS II,
LLC
 SOUTHERN INSULATORS, LLC
 SPEC 7 INSULATION CO., LLC

SUPERIOR INSULATION, LLC
 SUPERIOR INSULATION SERVICES, LLC

TCI CONTRACTING, LLC
 TCI CONTRACTING OF CHARLESTON,

    LLC
 TCI CONTRACTING OF HILTON HEAD,

    LLC
 TCI CONTRACTING OF KENTUCKY, LLC

TCI CONTRACTING OF MEMPHIS, LLC
 TCI CONTRACTING OF NASHVILLE,
LLC
 TCI CONTRACTING OF THE GULF, LLC
 THERMAL CONTROL
INSULATION, LLC
 TIDEWATER INSULATORS, LLC
 TOWN BUILDING
SYSTEMS, LLC
 TRILOK INDUSTRIES, INC.
 U.S. INSULATION
CORP.
 WATER-TITE COMPANY, LLC
 WILSON INSULATION COMPANY,
LLC

  

									
	By:	 	 /s/  Michael T. Miller
	 		 	By:	 	 /s/ Michael T. Miller

		 	Michael T. Miller	 		 		 	Michael T. Miller
		 	Executive Vice President and Chief Financial Officer	 		 		 	Executive Vice President and Chief Financial Officer

  
 [Signature Page to Term
Guarantee Agreement] 

  

									
	GOLD STAR INSULATION, L.P.	 		 	OJ INSULATION, L.P.
					
	By:	 	Gold Insulation, Inc., its general partner	 		 	By:	 	OJ Insulation Holdings, Inc., its general partner
					
	By:	 	 /s/ Michael T. Miller
	 		 	By:	 	 /s/ Michael T. Miller

		 	Michael T. Miller	 		 		 	Michael T. Miller
		 	 Executive Vice President and Chief

    Financial Officer
	 		 		 	 Executive Vice President and Chief

    Financial Officer

  
 [Signature Page to Term
Guarantee Agreement] 

 
			
	 ROYAL BANK OF CANADA,

        as Term Collateral Agent

		
	By:	 	 /s/ Ann Hurley

		 	Name: Ann Hurley
		 	Title:   Manager, Agency

  

  
 [Signature Page to Term
Guarantee Agreement] 

 Schedule I to the 

Guarantee Agreement 
 None.

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