Document:

Amendment No. 2 to Lease Agreement

 Exhibit 10.15 
 SECOND AMENDMENT TO LEASE AGREEMENT 
 THIS
SECOND AMENDMENT (“Second Amendment”) is made this 1 day of December, 2009, by and between LIBERTY VENTURE I, LP, a Delaware limited partnership (“Landlord”), and DS DISTRIBUTION, INC., a Delaware
corporation (“Tenant”). 
 BACKGROUND: 
 A. Landlord’s predecessor, The Northwestern Mutual Life Insurance Company, and Tenant entered into a Lease Agreement dated
August 30, 1999 (the “Original Lease”), as amended by First Amendment to Lease Agreement dated December 10, 2003 (the “First Amendment” and, together with the Original Lease, collectively, the “Lease”),
covering premises containing approximately 270,378 rentable square feet at 407 Heron Drive, Bridgeport, New Jersey, as more fully described in the Lease (the “Premises”). 
 B. Tenant and Landlord desire to extend the term of the Lease and modify the Lease in certain respects pursuant to the provisions of this
Second Amendment. 
 NOW, THEREFORE, the parties hereto, in consideration of the mutual promises and covenants contained
herein and in the Lease, and intending to be legally bound hereby, agree that the Lease is amended as follows: 
 1. All
capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Lease. 
 2.
Section 1.6 of the Lease, entitled “Term”, is amended and restated in its entirety as follows: 
 “For
the period expiring on December 31, 2020, with two (2) options to renew for an additional period of five (5) years each.” 
 3. Effective on January 1, 2010, Section 1.9 of the Lease, entitled “Base Rent”, is deleted and the following schedule of Base Rent is substituted therefor: 
  

										
	 Period
	  	Per Square Foot	  	Annual Base Rent	  	Monthly Installment
	 1/1/10-12/31/10
	  	$	3.50	  	$	946,323.00	  	$	78,860.25
	 1/1/11-12/31/11
	  	$	3.35	  	$	905,766.30	  	$	75,480.53
	 1/1/12-12/31/12
	  	$	3.45	  	$	932,804.10	  	$	77,733.68
	 1/1/13-12/31/13
	  	$	3.55	  	$	959,841.90	  	$	79,986.83
	 1/1/14-12/31/14
	  	$	3.95	  	$	1,067,993.10	  	$	88,999.43
	 1/1/15-12/31/15
	  	$	4.05	  	$	1,095,030.90	  	$	91,252.58
	 1/1/16-12/31/16
	  	$	4.15	  	$	1,122,068.70	  	$	93,505.73
	 1/1/17-12/31/17
	  	$	4.25	  	$	1,149,106.50	  	$	95,758.88
	 1/1/18-12/31/18
	  	$	4.35	  	$	1,176,144.30	  	$	98,012.03
	 1/1/19-12/31/19
	  	$	4.45	  	$	1,203,182.10	  	$	100,265.18
	 1/1/20-12/31/20
	  	$	4.55	  	$	1,230,219.90	  	$	102,518.33

  

 4. (a) The Premises is currently occupied by Tenant, and, subject to the provisions of the
Lease, Tenant has accepted same in its “as is” “where is” condition and Landlord shall have no obligations whatsoever to improve the Premises for Tenant’s use and occupancy, except as set forth in subsection (b) of this
Section 4. 
 (b) Landlord shall install a new HVAC system in the warehouse portion of the Premises (the “HVAC Tenant
Improvement”) in accordance with plans or a description of improvements to be mutually agreed upon by Landlord and Tenant in writing. Promptly after Landlord and Tenant have finalized the plans and specifications for the HVAC Tenant
Improvement, Landlord shall solicit competitive bids for all labor and materials to complete the HVAC Tenant Improvement and Tenant shall have the right to include one subcontractor per trade on the bidding list and shall have a right to examine all
solicited bids. Such bidding process shall not exceed fifteen (15) business days. Landlord shall cooperate with Tenant to develop a schedule of construction for the HVAC Tenant Improvement, which may include times for obtaining materials and
times for performance of the work after delivery of such materials. Tenant shall have the right to revise the plans and specifications in order to adjust or accelerate such work schedule, if possible. Landlord shall work with Tenant to hire the
contractor with no construction management fee. The HVAC Tenant Improvement shall be performed in a good and workmanlike manner and shall comply at the time of completion with all applicable laws of the governmental authorities having jurisdiction.

 (c) Landlord agrees to complete the HVAC Tenant Improvement, at Tenant’s sole cost and expense, equal to the aggregate
of all costs, expenses and fees incurred by or on behalf of Landlord in connection therewith (the “Tenant’s Cost”), including, without limitation, (i) architectural, engineering and design costs, (ii) the cost charged to
Landlord by Landlord’s general contractor and all subcontractors for performing the HVAC Tenant Improvement, and (iii) the cost to Landlord of performing directly any portion of the HVAC Tenant Improvement; provided, however, that no
construction management fee shall be charged by Landlord. Landlord agrees to credit Tenant with an allowance (the “HVAC Tenant Allowance”) equal to the lesser of the Tenant’s Cost or $250,000.00. Payments will be made directly to
Landlord’s contractor and all subcontractors performing the HVAC Tenant Improvement only after Tenant has given approval of the work, such approval not to be unreasonably withheld, conditioned or delayed. Tenant agrees to pay to Landlord,
within 10 days of being billed therefor, the excess (if any) of the Tenant’s Cost above the HVAC Tenant Allowance. In the event the Tenant’s Cost is less than $250,000.00, and provided Tenant is not then in default under the Lease, within
thirty (30) days after Tenant’s written request, Landlord shall reimburse Tenant, to the extent of the unused portion of such $250,000.00, for the bona fide, documented, out of pocket, actual costs incurred by Tenant for alterations made
to the Premises by Tenant between the date of this Second Amendment and June 30, 2011 pursuant to the provisions of Section 15 of the Lease for which Landlord shall not charge Tenant a construction management fee. 
  

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 (d) The provisions of Subsections 14(A)(2)(d), (e) and (g) and 14(A)(3) of the
Lease shall apply to the HVAC Tenant Improvement. 
 5. Section 3 of the Lease, entitled “Term and Commencement of
Lease”, is amended as follows: 
 (a) The introductory paragraph of Section 3.1 of the Lease, entitled
“Renewal of Term”, is deleted and restated in its entirety as follows: 
 “Tenant shall have the option to
renew the Term of the Lease for two (2) additional terms of five (5) years each with twelve (12) months prior written notice (each a “Renewal Term,” which if exercised shall be deemed part of the Term), and subject to the
following provisions:”. 
 (b) Subsection 3.1(a) of the Lease is deleted and restated in its entirety as follows:

 “In order to exercise either option to renew the Lease, Tenant must give Landlord written notice of its election to renew
not later than 365 days before the expiration of the then-current Term. All terms of the Lease shall remain in full force and effect for the Renewal Term, except that the Base Rent applicable during the Renewal Term shall be the greater of
(i) the Base Rent payable at the expiration of the immediately preceding Term of the Lease, or (ii) Fair Market Value. Fair Market Value shall mean the then prevailing market rate of rent and all other charges for comparable space for a
new tenant not yet in occupancy which receives no allowances for improvements above a base building shell, and reflecting such conditions as Tenant’s use of the Premises, location of the Building, size of rental area, condition of the Premises
and the time the particular rate under consideration become effective. However, in no event shall the Fair Market Value be deemed to be less than the Base Rent payable at the expiration of the immediately preceding Term of the Lease. If Tenant
exercises either option in accordance with the foregoing, then, unless Landlord accepts as Tenant’s Base Rent obligation for each Lease Year of the Renewal Term an amount equal to the Base Rent payable at the expiration of the immediately
preceding Term of the Lease, Landlord shall notify Tenant in writing, within fifteen (15) days after receiving the notice of exercise of the applicable option, of the market rate of rent to apply during the applicable Renewal Term.”

 (c) Subsection 3.1(c) of the Lease is deleted in its entirety. 
 (d) A new Section 3.2, entitled “Early Termination,” is added to the Lease as follows: 
 “3.2 Early Termination. 
 Provided that Landlord has not given Tenant notice of default more than two (2)

  

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times, that there then exists no Event of Default by Tenant under the Lease, nor any event that with the giving of notice and/or the passage of time would constitute an Event of Default, and that
Tenant is the sole occupant of the Premises, Tenant shall have the right and option, exercisable by giving Landlord prior written notice thereof not later than December 31, 2016, to terminate this Lease on December 31, 2017 (the
“Early Termination Date”) and by paying Landlord at the time of giving notice an amount (the “Termination Fee”) equal to the sum of (a) $500,000.00, plus (b) the unamortized portion of “Lease Transaction
Costs” (as hereinafter defined). For purposes hereof, “Lease Transaction Costs” shall mean the sum of (i) the Tenant Allowance, (ii) brokers commissions incurred by Landlord in connection with this Second Amendment, and
(iii) $162,226.80 (representing the savings in Base Rent for 2010 effectuated by this Second Amendment), amortized over 10 years (commencing January 1, 2011) at an interest rate of 10% per annum. Tenant shall pay all Rent under the
Lease and abide by all of the terms and conditions of the Lease through and including the Early Termination Date. Notwithstanding the foregoing, in the event that Tenant exercises this option to terminate because the size of the Premises is not
adequate for the conduct of its business and Liberty Venture I, LP enters into a lease with Tenant for more space than the Premises in any building owned by Liberty Venture I, LP, no Termination Fee shall be payable by Tenant in connection with such
termination of the Lease. It is expressly agreed and understood that the immediately preceding sentence shall be of no further force or effect if, as and when Liberty Venture I, LP sells the Premises and shall not be binding upon future owners
of the Premises.” 
 Landlord’s approval: 
  

					
	             /s/
	 		 	             /s/

	Regional Director	 		 	City Manager

 6. Tenant shall not
be required to increase the amount of the Security Deposit held by Landlord pursuant to Section 4.2 of the Lease in connection with the extension of the Term pursuant to this Second Amendment or any Renewal Term exercised by Tenant pursuant to
Section 3.1(a) of the Lease, as amended by this Second Amendment. 
 7. Section 4.3 of the Lease, entitled
“Additional Rent”, is amended as follows: 
 (a) Subsection (a) is amended by adding at the end thereof:

 “Tenant shall have the right, at its own cost and expense, to initiate and prosecute any proceeding permitted by law for
the purpose of obtaining abatement or reduction of any real estate taxes assessed against the Lot and the Premises. Landlord, at no cost to Landlord, shall cooperate with Tenant as Tenant may reasonably require in connection with such proceedings,
including, without limitation, providing Tenant with any relevant information pertaining to the cost of any work performed by Landlord at the Lot or the Premises. In the event that Landlord receives any written notice from the tax assessor of Logan
Township with respect to the Lot or the Premises, Landlord agrees to promptly forward a copy thereof to Tenant. To the extent that

  

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Tenant is successful in obtaining any abatement or reduction through such proceedings, and Landlord receives a refund of taxes previously paid by Tenant, Landlord shall credit to Tenant the
Proportionate Share of such refund as part of the reconciliation of Operating Costs for the year in which such refund is received. Unless otherwise provided for above, Tenant shall pursue all real property tax refund claims directly.”

 (b) Subsection (b)(6) is deleted in its entirety and the following is substituted therefor: 
 “(6) all property management fees (Tenant’s Proportionate Share of which shall not exceed four percent (4%) of Base Rent) and
expenses”. 
 8. Section 31 of the Lease, entitled “Holding Over”, is amended by
deleting the first (1st) sentence and substituting
the following therefor: 
 “In the event of holding over by Tenant after the expiration or termination of this Lease, the
holdover shall be as a tenant at will and all of the terms and provisions of this Lease shall be applicable during that period, except that Tenant shall pay Landlord as rent for each of the first twelve (12) months of such holdover an amount
equal to 150% of the rent payable by Tenant in the month immediately preceding the holdover and thereafter during such holdover Tenant shall pay Landlord as rent for each month of such holdover an amount equal to 200% of the rent payable by Tenant
in the month immediately preceding the holdover.” 
 9. Section 32 of the Lease, entitled “Rights of First
Mortgagee”, is amended by adding at the end thereof: 
 “Upon Tenant’s request, Landlord shall request and use
commercially reasonable efforts to obtain a commercially reasonable non-disturbance agreement from all current and future mortgagees and ground lessees having superior rights with respect to the Lot and the Premises.” 
 10. Section 38 of the Lease, entitled “Notice”, as restated in Section 36 of the First Amendment, is amended to
provide for notices to Landlord to be sent to: 
 Liberty Venture I, LP 
 c/o Liberty Property Trust 
 901 Lincoln Drive West, Suite 100 
 Marlton, NJ 08053 
 Attn: Vice President, City Manager 
 Fax No.: (856) 797-7130 
 With a copy to: 
 Liberty Venture I, LP 
 c/o Liberty Property Trust 
 500 Chesterfield Parkway 
 Malvern, PA 19355 
 Attn: Real Estate Counsel 
 Fax No.: (610) 644-2175 
  

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 11. Section 45 of the Lease, entitled “Right of First Offer”, is
deleted in its entirety. 
 12. Section 16 of the First Amendment is deleted in its entirety. 
 13. Upon Tenant’s request, Landlord agrees to certify to any New Jersey state or local governmental authority providing or being
requested to provide tax incentives to Tenant that Tenant has the right, pursuant to Section 3.2 of the Lease, to terminate the Lease and, at its option, to relocate its operation to, or consolidate its operation with another operation in, a
facility outside of the State of New Jersey. 
 14. Upon Landlord’s receipt of written notice from Tenant that Tenant
requires more space for the operation of its business than the Premises provides, Landlord shall cooperate with Tenant to seek to identify an existing facility and/or land site within the portfolio of properties owned by Landlord in the Southern New
Jersey market area that could accommodate Tenant’s increased space needs and, if the parties agree on a facility or site, to cooperate with Tenant in pursuing a lease with respect thereto on mutually acceptable terms. 
 15. The parties agree that they have dealt with no brokers in connection with this Section Amendment, except for Studley, Inc.
(Broker”), whose commission shall be paid by Landlord pursuant to the terms and conditions contained in a separate agreement to be executed by Landlord and Broker. Each party agrees to indemnify and hold the other harmless from any and all
claims for commissions or fees in connection with the Premises and this Second Amendment from any other real estate brokers or agents with whom they may have dealt. 
 16. Tenant acknowledges and agrees that the Lease is in full force and effect and, to Tenant’s knowledge, Tenant has no claims or offsets against Base Rent and Additional Rent due or to become due
hereunder. 
 17. Except as expressly modified herein, the terms and conditions of the Lease shall remain unchanged and in full
force and effect. 
 18. This Second Amendment shall be binding upon and inure to the benefit of the parties and their
respective successors and permitted assigns. 
  

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 IN WITNESS WHEREOF, Landlord and Tenant have executed this Second Amendment as of the
day and year first above written. 
  

									
	LANDLORD:
	LIBERTY VENTURE I, LP
	By:	 	Liberty Venture I, LLC, Sole General Partner
		 	By:	 	Liberty Property Limited Partnership, Sole Member
		 		 	By:	 	Liberty Property Trust, Sole General Partner
					
		 		 		 	By:	 	 /s/ James J. Mazzarelli, Jr.

		 		 		 		 	Name: James J. Mazzarelli, Jr.
		 		 		 		 	Title: Senior Vice President,
		 		 		 		 	 Regional Director

	
	TENANT:
	DS DISTRIBUTION, INC.
		
	By:	 	 /s/ Dawn Lepore

		 	Name: Dawn Lepore
		 	Title: President, CEO and Chairman

  

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 JOINDER OF GUARANTOR 
 The undersigned, Drugstore.Com, Inc., guarantor of Tenant’s obligations under the Lease pursuant to Guaranty of Lease dated as of
August 30, 1999 (the “Guaranty”), hereby (a) joins in and consents to the foregoing Second Amendment, (b) ratifies and confirms the Guaranty and agrees that the Guaranty remains in full force and effect with respect to the
Lease, as amended by the Second Amendment, and (c) agrees that it has no claim or offset against any sums due or to become due under the Guaranty. 
 IN WITNESS WHEREOF, the undersigned, intending to be legally bound, has executed this Joinder of Guarantor this         day of
                            , 2009. 
  

			
	 DRUGSTORE.COM, INC.

		
	 By:
	 	
		 	 
		 	 Name:

		 	 Title:First Amending Agreement, dated as of January 14, 2010 amending the Credit

 Exhibit 4.2 
 1st
 AMENDMENT AGREEMENT dated as of January 14, 2010. 
  

			
	BETWEEN:	  	QUEBECOR MEDIA INC., as Borrower
		
	AND:	  	BANK OF AMERICA, N.A., as Administrative Agent

 WHEREAS a credit agreement (the “Principal Credit Agreement”) dated January 17, 2006 has been entered into among Quebecor Media Inc., as Borrower, the financial institutions
identified on the signature pages thereto, as Lenders, Bank of America, N.A., as Administrative Agent, Banc of America Securities LLC, as Joint Lead Arranger and Sole Bookmanager, The Toronto-Dominion Bank, as Joint Lead Arranger and Syndication
Agent, and The Bank of Nova Scotia, Bank of Montreal and HSBC Bank Canada, as Documentation Agents; 
 WHEREAS the
Borrower and the Lenders desire to amend certain provisions of the Principal Credit Agreement in accordance with the terms hereof; and 
 WHEREAS, in satisfaction of the requirements under the Principal Credit Agreement, all of the Lenders have provided their requisite written consent to the Administrative Agent in connection with the amendments provided for herein.

 NOW, THEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE SUFFICIENCY AND RECEIPT WHEREOF ARE HEREBY ACKNOWLEDGED, THE PARTIES HERETO HAVE
AGREED AS FOLLOWS: 
  

	1.	DECLARATIONS, ACKNOWLEDGEMENTS, CONFIRMATIONS AND INTERPRETATIVE PROVISIONS 

 1.1 This 1st Amendment Agreement is declared to be supplemental to the Principal Credit Agreement and is to form part thereof
and shall have the same effect as though incorporated in the Principal Credit Agreement. All provisions of the Principal Credit Agreement, except only insofar as they may be inconsistent with the express provisions of this 1st Amendment Agreement, shall apply to and have effect in
connection with this 1st Amendment Agreement.

 1.2 Unless otherwise defined herein or unless there is something in the subject matter or in the context inconsistent therewith, all
capitalized words and expressions used herein or in any deed, document or agreement supplemental hereto shall have the meaning ascribed to them in the Principal Credit Agreement. 
 1.3 The division of this 1st Amendment Agreement into Articles and Sections and the insertion of titles are only meant to be references and do
not affect the meaning or the interpretation of this 1st Amendment Agreement. 

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 1.4 The preamble of this 1st Amendment Agreement shall form an integral part hereof as if at length recited herein. 

1.5 This 1st Amendment Agreement shall be governed by and construed in accordance with the laws applicable in the Province of
Quebec. 
 1.6 The expressions “hereto” or “hereunder” or “hereof” or
“herein” or “this Agreement” refer to this 1st Amendment Agreement and any reference to the “Credit Agreement” refers to the Principal Credit Agreement as amended by this 1st Amendment Agreement. 
 1.7 This 1st Amendment Agreement shall not constitute novation of the Principal Credit Agreement; however, should this 1st Amendment Agreement be construed as constituting novation of the Principal Credit Agreement, the Administrative
Agent and the Lenders hereby expressly reserve all of the Security created under the Credit Documents which was granted in their favour by the Borrower and the Pledgor, as the case may be, in connection with the Principal Credit Agreement, the whole
in accordance with the provisions of Article 1662 of the Civil Code of Québec. 
  

	2.	AMENDMENTS TO THE PRINCIPAL CREDIT AGREEMENT 

 The Principal Credit Agreement is hereby amended as follows: 
 2.1 by deleting the
definition of “Business Day” in Section 1.01 of the Principal Credit Agreement and replacing it with the following: 
 “Business Day” means any day of the year, other than a Saturday, Sunday or other day on which banks are required or authorized to close in, or are in fact closed in,
(a) with respect to matters pertaining exclusively to Accommodations and repayments under the Revolving Facility, Facility A and Facility B-2: (i) Toronto, Ontario; and (ii) Montreal, Quebec; or (b) with respect to all
other matters: (i) Toronto, Ontario; (ii) Montreal, Quebec; (iii) New York, New York; and (iv) California, U.S.A., or such other State in which the Administrative Agent’s office is located from time to time. 
 2.2 by deleting the definition of “Consolidated EBITDA” in Section 1.01 of the Principal Credit Agreement and replacing it with
the following: 
 “Consolidated EBITDA” means, for any Person, for any period and without duplication, earnings
of such Person on a consolidated basis before non-controlling interests, earnings from equity accounted investments, extraordinary items, non-recurring gains or losses on debt extinguishment and asset sales, non-cash charges for non-recurring
restructuring charges, cash charges for non-recurring restructuring charges to the extent such cash charges are in an aggregate amount of less than C$50,000,000 during the period commencing January 1, 2010 and ending on the last day of the Term
of Facility B, Consolidated Interest Charges, foreign exchange translation gains or losses not involving the payment of cash, amortization of deferred financing costs and other non-cash financial charges, taxes,

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depreciation, amortization (including write-down of assets), without taking into account any goodwill adjustments, calculated on a consolidated basis, and otherwise calculated in accordance with
GAAP; for greater certainty, there shall be excluded from the calculation of “Consolidated EBITDA” to the extent included in such calculation, the amount of any income or expense relating to Back-to-Back Securities. 
 Consolidated EBITDA shall (A) exclude the EBITDA of (a) any Person and (b) every division, line of business or group of
operating assets used in carrying on a distinct business (collectively called an “Operating Business”) that (in the case of either (a) or (b) above) no longer belong to the Borrower or a Subsidiary of the Borrower (a
“Former Contributor”) on the last day of such period which would otherwise be included in such consolidated results of operations of the Borrower because such Former Contributor or Operating Business, as the case may be, has been
disposed of during such period; and (B) include the EBITDA for such period of each Person and of every Operating Business that, during such period, became (or, in the case of an Operating Business, became part of) the Borrower or of a
Subsidiary of the Borrower and which is (or is comprised within) the Borrower or a Subsidiary of the Borrower on the last day of such period on a proforma basis for such period, based on audited historical results of operations, or, if unavailable,
reasonable projections satisfactory to the Administrative Agent. 
 2.3 by deleting the definition of “Consolidated Interest
Charges” in Section 1.01 of the Principal Credit Agreement and replacing it with the following: 
 “Consolidated Interest Charges” means, for any Person, for any period for the Person and its subsidiaries, the sum of, without duplication, on a consolidated basis, (i) all items properly classified as interest expense
in accordance with GAAP (other than amounts paid in respect of (A) the Back-to-Back Transactions, including under the Existing Back-to-Back Securities, (B) any non-cash foreign exchange gains or losses recognized in relation to foreign
currency denominated Debt and (C) the amortization of deferred financing cost), (ii) the imputed interest component of any element of Consolidated Debt (such as capital leases) which would not be classified as interest expense pursuant to
(i), and (iii) the aggregate of all purchase discounts relating to the sale of (a) bankers acceptances or other instruments sold at a discount, and (b) accounts receivable in connection with any asset securitization program, all as
determined at such time in accordance with GAAP. 
 In circumstances where the proceeds of disposition of a Former Contributor
(as defined in the definition of “Consolidated EBITDA”) or its property or of an Operating Business (as defined in the definition of “Consolidated EBITDA”) have been used to repay Accommodations Outstanding during
such period, for the purpose of calculating Consolidated Interest Charges, the amounts so repaid shall be deducted from the Consolidated Debt on which the calculation of Consolidated Interest Charges for such period would otherwise have been made,
and Consolidated Interest Charges shall be reduced accordingly on a proforma basis.

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Similarly, in circumstances where Consolidated Debt was incurred or assumed in connection with the acquisition of a Person or Operating Business (as defined in the definition of
“Consolidated EBITDA”), the amounts so incurred or assumed shall be added to the Consolidated Debt on which the calculation of Consolidated Interest Charges for such period would otherwise have been made, and Consolidated Interest
Charges shall be increased accordingly on a proforma basis. 
 2.4 by adding the following definitions in Section 1.01 of the
Principal Credit Agreement: 
 “Consolidated Net Tangible Assets” means on a consolidated basis, at any time,
the book value of all assets of the Borrower and its Subsidiaries less (i) current liabilities and (ii) goodwill and all other intangible assets, except separately acquired stand-alone intangible assets (such as, without limitation,
3G licences) and internally developed intangible assets (such as, without limitation, software), in each case, as appearing on the Borrower’s consolidated financial statements and determined in accordance with GAAP. 
 “Immaterial Subsidiary” means, at any time, any Subsidiary of the Borrower accounting individually and on a
non-consolidated basis, to less than 2% of Consolidated Net Tangible Assets and 2% of Consolidated EBITDA of the Borrower, provided that at the time of such determination: (i) the aggregate principal amount of any Indebtedness owed by such
Subsidiary to the Borrower or any other Subsidiary of the Borrower at such time does not exceed C$25,000,000; (ii) no such Subsidiary is a party to any Back-to-Back Transaction or Tax Benefit Transaction; and (iii) no Material Subsidiary
can be a Subsidiary of an Immaterial Subsidiary. 
 “Material Subsidiary” means, at any time, the Pledgor,
Vidéotron Ltée., Sun Media Corporation and any other Subsidiary of the Borrower which is not an Immaterial Subsidiary. 
 2.5 by deleting the definition of “Permitted Debt Distribution” in Section 1.01 of the Principal Credit Agreement and replacing it with the following: 
 “Permitted Debt Distribution” means (i) the redemption or repayment on or about the Closing Date of up to
C$1,425,000,000 of Existing Senior Notes, the Existing Credit Agreement, and related premiums and obligations, penalties, fees and other obligations relating to such redemption of repayment and to the termination of related hedging agreements on or
about the Closing Date; (ii) Debt Distributions by the Pledgor to the Borrower; (iii) payments (other than voluntary early repayments or defeasance payments) on account of Permitted Debt (including a premium and fees, if any, thereon),
other than the Senior Notes, any Subordinated Debt, the Press Investment Debt, the Carlyle Debt, the Overdraft Facility, the Back-to-Back Securities and the Existing Back-to-Back Securities; (iv) regularly scheduled payments of interest on the
Senior Notes and on Subordinated Debt; (v) any payment on account of the Press Investment Debt, and related hedging agreements; (vi) any payment on account of the Carlyle Debt; (vii) any payment on account of

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the Overdraft Facility; (viii) payments made in connection with or in respect of the Back-to-Back Securities or the Existing Back-to-Back Securities; provided, however, that to the
extent such payments are made to any Affiliates of the Borrower other than QMI Entities, all corresponding payments required to be paid by such Affiliates pursuant to the related Back-to-Back Securities or Existing Back-to-Back Securities are
received, immediately prior to, concurrently with or immediately subsequent to any such payments, by the Borrower, and each such payment by the Borrower shall be conditional upon receipt of an equal or greater amount from such Affiliate;
(ix) any Tax Benefit Transaction; (x) the redemption or repayment on or after July 15, 2006 of the Balance of Notes and related premiums and obligations, penalties, fees and other obligations relating to such redemption or
repayment and to the termination of related hedging agreements, if any, and (xi) any payments on account of the refinancing of Senior Notes, other unsecured Debt and Subordinated Debt if the funds used for such payments are obtained by the
Borrower from: (A) Subordinated Debt or unsecured Debt having a term expiring after the term of the Debt being repaid and refinanced with such funds; or (B) subject to Section 2.05(3), the unused Net Proceeds from the issuance of any
equity securities by the Borrower; provided that with respect to the Permitted Debt Distributions referred to in clauses (iii), (viii) and (x), no Default shall have occurred and be continuing and no Event of Default shall have occurred
and not been waived at the time of such payment; notwithstanding the foregoing, the repayment of the principal of any unsecured Debt or Subordinated Debt (other than the Permitted Debt Distributions referred to in clauses (vi), (ix) and
(x) and, to the extent such Debt has become unsecured, clauses (v) and (vii)) shall not constitute a Permitted Debt Distribution to the extent that such repayment is made out of the proceeds of an increase of Facility B or of any new
Credit Facility contemplated by Section 2.12. 
 2.6 by deleting paragraphs (t), (u) and (x) of the definition of
“Permitted Liens” in Section 1.01 of the Principal Credit Agreement and replacing it with the following: 
 (t) the Liens in favor of the lenders of Videotron Ltée (“Videotron”) on the shares that the Borrower holds in the capital stock of Videotron Ltée (being the entity resulting from the amalgamation of 9101-0827
Quebec Inc. and Videotron Ltd.) granted in connection with the credit agreement dated as of November 28, 2000 entered into among, inter alia, Videotron, as borrower, and Royal Bank of Canada, as administrative agent, as amended, provided
such Liens rank after the Security Documents; 
 (u) the Liens granted by the Borrower on the universality of its movable
property, including the Vidéotron Shares, and Liens granted by 3535991 Canada Inc. on its shares in Sun Media Corporation in connection with the Press Investment Debt, provided however that such Liens are pari passu with the Liens
created under the Security Documents and are created pursuant to security documents containing terms and conditions substantially similar to the terms and conditions of the Security Documents or terms and conditions satisfactory to the
Administrative Agent; 

 6 
  

 (x) Liens granted by the Borrower on the universality of its movable property, including the
Vidéotron Shares, and Liens granted by 3535991 Canada Inc. on its shares in Sun Media Corporation to secure the payment and performance of the obligations of the Borrower under the Overdraft Facility provided such Liens are pari passu
with the Liens created under the Security Documents and are created pursuant to security documents containing terms and conditions substantially similar to the terms and conditions of the Security Documents or terms and conditions satisfactory to
the Administrative Agent. 
 2.7 by deleting the definition of “Pledgors” in Section 1.01 of the Principal Credit
Agreement and replacing it with the following: 
 “Pledgor” means 3535991 Canada Inc., as the grantor of the
limited recourse pledge and the supplement(s) thereto referred to in paragraph 2 of Schedule 5. 
 Consequently, all
references in the Credit Agreement to “Pledgors” shall be deemed a reference to “Pledgor”, mutatis mutandis. 
 2.8 by deleting the definition of “Term” in Section 1.01 of the Principal Credit Agreement and replacing it with the following: 
 “Term” means the period commencing on the Closing Date and terminating, with respect to (i) the Revolving Facility, on January 3, 2013, (ii) Facility A, five years
therefrom and (iii) Facility B, seven years therefrom. 
 2.9 by adding the following definition in Section 1.01 of the
Principal Credit Agreement: 
 “Vidéotron Shares” has the meaning specified in Section 8.01(u).

 2.10 by deleting Section 1.06 of the Principal Credit Agreement in its entirety and replacing it with the following: 

Section 1.06 Accounting Terms and Principles. 
 All accounting terms not specifically or completely defined herein shall be construed in conformity with GAAP applied on a consistent basis, as in effect from time to time and all financial statements and
reports to be prepared hereunder shall be prepared in accordance with GAAP in effect from time to time. 
 If at any time any
change in GAAP would affect the computation of any financial ratio or requirement set forth in any Credit Document, and either the Borrower or the Majority Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall
negotiate in good faith to amend such ratio or requirement with the intent of having the respective positions of the Borrower and the Lenders after the coming into force of such change in GAAP conform as nearly as possible to their respective
positions under the Credit Agreement immediately prior to

 7 
  

 
January 1, 2010; provided that (A) until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and
(ii) the Borrower shall provide to the Administrative Agent and the Lenders a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP, and (B) no fees (other than
reasonable legal fees incurred by the Lenders to amend any such Credit Document to evidence any such amendment), premiums, increases in pricing or other costs shall be charged to, or borne by, the Borrower in connection with any such amendment. For
greater certainty, it is hereby understood and agreed that any reconciliation between calculations of such ratio or requirement before and after giving effect to such change in GAAP made by or on behalf of the Borrower for purposes of determining
compliance with any financial ratio or requirement set forth in any Credit Document shall be unaudited. 
 2.11 by adding the following
paragraph as new Section 8.01(u) of the Principal Credit Agreement: 
 Share Certificates in Vidéotron
Ltée. The Borrower shall deliver, promptly upon receipt, to the Administrative Agent, duly endorsed in blank for transfer as the case may be: 
  

	 	(i)	all share certificates issued by Vidéotron Ltée to the Borrower after the date of this Agreement, except for Back-to-Back Preferred Shares and any shares
issued by Vidéotron Ltée resulting from a Tax Benefit Transaction (such shares being collectively referred to the “Vidéotron Shares”); 

  

	 	(ii)	undated stock transfer forms executed in blank by the Borrower in respect of the Vidéotron Shares; 

  

	 	(iii)	such other documents and instruments as the Administrative Agent may require from time to time (i) to render opposable the security and pledge on the
Vidéotron Shares (duly executed by the Borrower), (ii) for vesting or enabling it to vest such shares in itself, its nominee or nominees or any purchaser after the occurrence of an Event of Default, or (iii) to provide the
Administrative Agent with control (as such term is defined or contemplated in An Act respecting the transfer of securities and the establishment of security entitlements (Quebec)) over all Vidéotron Shares in the manner provided under
Section 55 of said Act. 

 In the eventuality of replacement certificates concerning the Vidéotron
Shares, the Administrative Agent will then give back the old certificates to the Borrower for cancellation provided that the Administrative Agent has received or receives simultaneously the said replacement certificates with undated stock transfer
form executed in blank by the Borrower. 
 2.12 by deleting Section 8.02(a) of the Principal Credit Agreement and replacing it with
the following: 

 8 
  

 Debt. Create, incur, assume or suffer to exist, or permit the Pledgor to create,
incur, assume or suffer to exist, any Debt other than Permitted Debt. 
 2.13 by deleting Section 8.02(h) of the Principal Credit
Agreement and replacing it with the following: 
 Investments and Acquisitions. Make any Investments or Acquisitions,
(other than in connection with Capital Expenditures permitted pursuant to Section 8.02(k), or permit the Pledgor to make any such Investments or Acquisitions, except, provided no Default has occurred and is continuing or would result therefrom,
(i) for the hedging agreements in connection with the Hedging Requirements, other hedging agreements and other foreign currency hedges, interest rate swaps, commodity hedges or similar obligations or agreements, in each case incurred in the
ordinary course of the Business and not for speculative purposes; (ii) Investments or Acquisitions so long as at the date of such Investment or Acquisition and on a proforma basis after taking such Investment or Acquisition into account as if
it existed at all times during the relevant period, the Leverage Ratio and the Interest Coverage Ratio are complied with in accordance with Section 8.03 and such Investments or Acquisitions are made with respect to Assets or Persons in the same
line of business as the Business; (iii) the acquisition of Back-to-Back Securities or the acquisition of property as part of Tax Benefit Transactions; and (iv) Investments or Acquisitions with respect to Assets or Persons not otherwise
permitted under clause (ii) above not to exceed at any time C$100,000,000 in the aggregate so long as at the date of such Investment or Acquisition and on a proforma basis after taking such Investment or Acquisition into account as if it
existed at all times during the relevant period, the Leverage Ratio and the Interest Coverage Ratio are complied with in accordance with Section 8.03; 
 2.14 by deleting the table set forth under Section 8.03(a) of the Principal Credit Agreement and replacing it with the following: 
  

			
	 Period
	  	Ratio
	 Closing Date to March 30, 2007
	  	6.00:1.00
	 March 31, 2007 to June 29, 2008
	  	5.50:1.00
	 June 30, 2008 to March 30, 2009
	  	5.00:1.00
	 March 31, 2009 to effective date of the 1st Amendment Agreement
	  	4.75:1.00
	 Effective date of the 1st Amendment Agreement and thereafter
	  	5:00:1.00

 9 
  

 2.15 by deleting Section 9.01(k) of the Principal Credit Agreement and replacing it with the
following: 
 the Borrower, a Material Subsidiary or Immaterial Subsidiaries which, in respect of such Immaterial Subsidiaries
only, account, in the aggregate, for more than 5% of Consolidated Net Tangible Assets and 5% of Consolidated EBITDA of the Borrower, in each such cases, shall (i) become insolvent or generally not pay its debts as such debts become due;
(ii) admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; (iii) institute or have instituted against it any proceeding seeking (x) to adjudicate it a bankrupt or
insolvent, (y) any liquidation, winding-up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any Law relating to bankruptcy, insolvency, reorganization or relief of debtors including any plan
of compromise or arrangement or other similar corporate proceeding involving or affecting its creditors, or (z) the entry of an order for relief or the appointment of a receiver, trustee or other similar official for it or for any substantial
part of its Assets, and in the case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 45 days, or any of the actions sought in such proceeding
(including the entry of an order for relief against it or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its Assets) shall occur; or (iv) take any corporate action to authorize
any of the foregoing actions; 
 2.16 by deleting Schedule 4 of the Principal Credit Agreement in its entirety and replacing it with
Schedule 4 attached hereto. 
 2.17 by deleting the third paragraph of Schedule 5 of the Principal Credit Agreement. 
 2.18 by deleting any reference to 9101-0827 Quebec Inc. in Schedules 7.01(a) and 7.01(g) of the Disclosure Schedule of the Principal Credit
Agreement. 
  

	3.	CONDITIONS PRECEDENT 

 3.1 This
1st Amendment Agreement shall not come into force until the following conditions precedent have been met to the satisfaction of the Administrative Agent, the Lenders and their legal counsel: 
  

	 	3.1.1	 the delivery to the Administrative Agent of an executed counterpart of this 1st Amendment Agreement; and 

  

	 	3.1.2	all Fees and expenses (including the legal fees and disbursements of counsel to the Administrative Agent and the Lenders) then owing payable under or in connection with
this 1st Amendment Agreement, the Principal Credit Agreement or the Credit Documents shall have been paid in full to the Administrative Agent and the Lenders; and 

 10 
  

	 	3.1.3	all the extension fees and the assumption fees provided for in Section 1.4 of the Borrower’s request for consent dated December 17, 2009 and addressed to
the Administrative Agent shall have been paid in full; and 

  

	 	3.1.4	such other conditions, certificates, reports, audits, certifications and documentation as the Administrative Agent may reasonably request. 

  

	4.	MISCELLANEOUS 

 4.1 All the other
provisions of the Principal Credit Agreement remain unchanged. 
 4.2 This 1st Amendment Agreement may be executed in several counterparts,
each of which so executed shall be deemed to be an original, and such counterparts together shall constitute the one and same instrument. 
 4.3 This 1st Amendment Agreement replaces and supersedes any and all written or verbal agreements, understandings and undertakings between the Administrative Agent and/or the Lenders and the Borrower in connection with the subject matters hereof.

 IN WITNESS WHEREOF, the parties have executed this 1st Amendment Agreement in the place and on the date first written
above. 
  

									
	QUEBECOR MEDIA INC., as Borrower	 		 	BANK OF AMERICA, N.A., as Administrative Agent
					
	Per:	 	(signed)	 		 	Per:	 	(signed)
	 Name:
 Title:
	 		 		 	 Name:
 Title:
	 	
					
	Per:	 	(signed)	 		 	Per:	 	(signed)
	 Name:
 Title:
	 		 		 	 Name:
 Title:
	 	

 11 
  

 INTERVENTION 
 The undersigned, as Pledgor under the Principal Credit Agreement, hereby (i) acknowledges, consents and agrees to
the foregoing 1st Amendment Agreement;
(ii) confirms that the Credit Documents to which it is a party continue in full force and effect and ratifies all of its obligations thereunder, and (iii) confirms that the pledge and/or hypothec granted by it pursuant to such Credit
Documents remains in full force and effect and has not been terminated, discharged or released. 
  

			
	3535991 CANADA INC.
		
	Per:	 	(signed)
	 Name:
 Title:
	 	

 SCHEDULE 4 
 to the 1st Amendment Agreement 
 APPLICABLE MARGINS 
 (per annum) 
 Revolving Facility 
  

											
	Tier	  	Leverage Ratio	  	Drawing Fee
and L/C Fee	  	C$ Prime Rate /
US$ Prime
Rate	  	Commitment
Fee	  	Libor
	 I
	  	R < 2.75	  	 	  	 	  	 	  	 
	 II
	  	2.75 < R < 3.5	  	 	  	 	  	 	  	 
	 III
	  	3.5 < R < 4.5	  	 	  	 	  	 	  	 
	 IV
	  	4.5 < R	  	 	  	 	  	 	  	 

 Facility A 
  

											
	Tier	  	Leverage Ratio	  	Drawing Fee
and L/C Fee	  	C$ Prime Rate /
US$ Prime
Rate	  	Commitment
Fee	  	Libor
	 I
	  	R < 2.75	  	 	  	 	  	 	  	 
	 II
	  	2.75 < R < 3.5	  	 	  	 	  	 	  	 
	 III
	  	3.5 < R < 4.5	  	 	  	 	  	 	  	 
	 IV
	  	4.5 < R < 5.25	  	 	  	 	  	 	  	 
	 V
	  	5.25 < R	  	 	  	 	  	 	  	 

 Facility B 
  

											
	US$ Prime Rate	 	Libor

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