Document:

EX-4.1

 Exhibit 4.1 
  

 
  

WARRIOR MET COAL, INC. 
 as
Issuer 
 and the Subsidiary Guarantors party hereto from time to time 

8.00% Senior Secured Notes due 2024 
  

 
 INDENTURE 

Dated as of November 2, 2017 
  

 
 Wilmington
Trust, National Association 
 as Trustee and Priority Lien Collateral Trustee 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	 
	
	DEFINITIONS AND INCORPORATION BY REFERENCE	 
			
	 SECTION 1.01
	 	 Definitions
	  	 	1	 
	 SECTION 1.02
	 	 Other Definitions
	  	 	64	 
	 SECTION 1.03
	 	 Rules of Construction
	  	 	65	 
	 SECTION 1.04
	 	 No Incorporation by Reference of Trust Indenture Act
	  	 	66	 
	
	ARTICLE II	 
	
	THE NOTES	 
			
	 SECTION 2.01
	 	 Amount of Notes
	  	 	66	 
	 SECTION 2.02
	 	 Form and Dating
	  	 	67	 
	 SECTION 2.03
	 	 Execution and Authentication
	  	 	67	 
	 SECTION 2.04
	 	 Registrar and Paying Agent
	  	 	68	 
	 SECTION 2.05
	 	 Paying Agent to Hold Money in Trust
	  	 	68	 
	 SECTION 2.06
	 	 Holder Lists
	  	 	69	 
	 SECTION 2.07
	 	 Transfer and Exchange
	  	 	69	 
	 SECTION 2.08
	 	 Replacement Notes
	  	 	70	 
	 SECTION 2.09
	 	 Outstanding Notes
	  	 	70	 
	 SECTION 2.10
	 	 Cancellation
	  	 	71	 
	 SECTION 2.11
	 	 Defaulted Interest
	  	 	71	 
	 SECTION 2.12
	 	 CUSIP Numbers, ISINs, Etc
	  	 	71	 
	 SECTION 2.13
	 	 Calculation of Principal Amount of Notes
	  	 	71	 
	
	ARTICLE III	 
	
	REDEMPTION	 
			
	 SECTION 3.01
	 	 Optional Redemption
	  	 	72	 
	 SECTION 3.02
	 	 Applicability of Article
	  	 	72	 
	 SECTION 3.03
	 	 Notices to Trustee
	  	 	72	 
	 SECTION 3.04
	 	 Selection of Notes to Be Redeemed
	  	 	72	 
	 SECTION 3.05
	 	 Notice of Optional Redemption
	  	 	73	 
	 SECTION 3.06
	 	 Effect of Notice of Redemption
	  	 	74	 
	 SECTION 3.07
	 	 Deposit of Redemption Price
	  	 	74	 
	 SECTION 3.08
	 	 Notes Redeemed in Part
	  	 	75	 
	
	ARTICLE IV	 
	
	COVENANTS	 
			
	 SECTION 4.01
	 	 Payment of Notes
	  	 	75	 
	 SECTION 4.02
	 	 Reports and Other Information
	  	 	75	 
	 SECTION 4.03
	 	 Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred
Stock
	  	 	78	 

  
 i 

 TABLE OF CONTENTS 

(cont’d) 
  

							
	 	 	 	  	Page	 
	 SECTION 4.04
	 	 Limitation on Restricted Payments
	  	 	86	 
	 SECTION 4.05
	 	 Dividend and Other Payment Restrictions Affecting Subsidiaries
	  	 	95	 
	 SECTION 4.06
	 	 Asset Sales
	  	 	97	 
	 SECTION 4.07
	 	 Transactions with Affiliates
	  	 	101	 
	 SECTION 4.08
	 	 Change of Control
	  	 	104	 
	 SECTION 4.09
	 	 Compliance Certificate
	  	 	106	 
	 SECTION 4.10
	 	 Further Instruments and Acts
	  	 	106	 
	 SECTION 4.11
	 	 Future Subsidiary Guarantors
	  	 	106	 
	 SECTION 4.12
	 	 Liens
	  	 	107	 
	 SECTION 4.13
	 	 [Reserved]
	  	 	109	 
	 SECTION 4.14
	 	 Maintenance of Office or Agency
	  	 	109	 
	 SECTION 4.15
	 	 Covenant Suspension
	  	 	109	 
	 SECTION 4.16
	 	 Creation and Perfection of Certain Security Interests After the Issue Date
	  	 	110	 
	
	ARTICLE V	 
	
	SUCCESSOR COMPANY	 
			
	 SECTION 5.01
	 	 When Issuer and Subsidiary Guarantors May Merge or Transfer Assets
	  	 	110	 
	
	ARTICLE VI	 
	
	DEFAULTS AND REMEDIES	 
			
	 SECTION 6.01
	 	 Events of Default
	  	 	113	 
	 SECTION 6.02
	 	 Acceleration
	  	 	115	 
	 SECTION 6.03
	 	 Other Remedies
	  	 	116	 
	 SECTION 6.04
	 	 Waiver of Past Defaults
	  	 	116	 
	 SECTION 6.05
	 	 Control by Majority
	  	 	117	 
	 SECTION 6.06
	 	 Limitation on Suits
	  	 	117	 
	 SECTION 6.07
	 	 Contractual Rights of the Holders to Receive Payment
	  	 	118	 
	 SECTION 6.08
	 	 Collection Suit by Trustee
	  	 	118	 
	 SECTION 6.09
	 	 Trustee May File Proofs of Claim
	  	 	118	 
	 SECTION 6.10
	 	 Priorities
	  	 	118	 
	 SECTION 6.11
	 	 Undertaking for Costs
	  	 	119	 
	 SECTION 6.12
	 	 Waiver of Stay or Extension Laws
	  	 	119	 
	
	ARTICLE VII	 
	
	TRUSTEE	 
			
	 SECTION 7.01
	 	 Duties of Trustee
	  	 	119	 
	 SECTION 7.02
	 	 Rights of Trustee
	  	 	121	 
	 SECTION 7.03
	 	 Individual Rights of Trustee
	  	 	123	 

  
 ii 

 TABLE OF CONTENTS 

(cont’d) 
  

							
	 	 	 	  	Page	 
	 SECTION 7.04
	 	 Trustee’s Disclaimer
	  	 	123	 
	 SECTION 7.05
	 	 Notice of Default
	  	 	124	 
	 SECTION 7.06
	 	 [Reserved]
	  	 	124	 
	 SECTION 7.07
	 	 Compensation and Indemnity
	  	 	124	 
	 SECTION 7.08
	 	 Replacement of Trustee or Priority Lien Collateral Trustee
	  	 	126	 
	 SECTION 7.09
	 	 Successor Trustee or Priority Lien Collateral Trustee by Merger
	  	 	127	 
	 SECTION 7.10
	 	 Eligibility; Disqualification
	  	 	127	 
	 SECTION 7.11
	 	 Preferential Collection of Claims Against the Issuer
	  	 	127	 
	
	ARTICLE VIII	 
	
	DISCHARGE OF INDENTURE; DEFEASANCE	 
			
	 SECTION 8.01
	 	 Discharge of Liability on Notes; Defeasance
	  	 	128	 
	 SECTION 8.02
	 	 Conditions to Defeasance
	  	 	129	 
	 SECTION 8.03
	 	 Application of Trust Money
	  	 	131	 
	 SECTION 8.04
	 	 Repayment to Issuer
	  	 	131	 
	 SECTION 8.05
	 	 Indemnity for U.S. Government Obligations
	  	 	131	 
	 SECTION 8.06
	 	 Reinstatement
	  	 	131	 
	
	ARTICLE IX	 
	
	AMENDMENTS AND WAIVERS	 
			
	 SECTION 9.01
	 	 Without Consent of the Holders
	  	 	131	 
	 SECTION 9.02
	 	 With Consent of the Holders
	  	 	133	 
	 SECTION 9.03
	 	 Revocation and Effect of Consents and Waivers
	  	 	134	 
	 SECTION 9.04
	 	 Notation on or Exchange of Notes
	  	 	134	 
	 SECTION 9.05
	 	 Trustee and/or Priority Lien Collateral Trustee to Sign Amendments
	  	 	134	 
	 SECTION 9.06
	 	 Additional Voting Terms; Calculation of Principal Amount
	  	 	135	 
	
	ARTICLE X	 
	
	[Reserved]	 
	
	ARTICLE XI	 
	
	[Reserved]	 
	
	ARTICLE XII	 
	
	GUARANTEE	 
			
	 SECTION 12.01
	 	 Subsidiary Guarantee
	  	 	135	 
	 SECTION 12.02
	 	 Limitation on Liability
	  	 	138	 
	 SECTION 12.03
	 	 [Reserved]
	  	 	139	 
	 SECTION 12.04
	 	 Successors and Assigns
	  	 	139	 
	 SECTION 12.05
	 	 No Waiver
	  	 	139	 

  
 iii 

 TABLE OF CONTENTS 

(cont’d) 
  

							
	 	 	 	  	Page	 
	 SECTION 12.06
	 	 Modification
	  	 	139	 
	 SECTION 12.07
	 	 Execution of Supplemental Indenture for Future Subsidiary Guarantors
	  	 	139	 
	 SECTION 12.08
	 	 Non-Impairment
	  	 	140	 
	
	ARTICLE XIII 	 
	
	COLLATERAL AND SECURITY	 
			
	 SECTION 13.01
	 	 Security Interest
	  	 	140	 
	 SECTION 13.02
	 	 Security Agreement, ABL Intercreditor Agreement and Collateral Trust Agreement
	  	 	141	 
	 SECTION 13.03
	 	 Priority Lien Collateral Trustee
	  	 	141	 
	 SECTION 13.04
	 	 Release of Liens on Collateral
	  	 	142	 
	 SECTION 13.05
	 	 Release of Liens in Respect of Notes
	  	 	142	 
	 SECTION 13.06
	 	 Equal and Ratable Sharing of Collateral by Holders of Priority Lien Debt
	  	 	143	 
	 SECTION 13.07
	 	 Relative Rights
	  	 	144	 
	 SECTION 13.08
	 	 Further Assurances; Insurance
	  	 	145	 
	 SECTION 13.09
	 	 Intercreditor Agreements
	  	 	145	 
	 SECTION 13.10
	 	 Duties of Trustee as Priority Lien Representative
	  	 	146	 
	
	ARTICLE XIV	 
	
	MISCELLANEOUS	 
			
	 SECTION 14.01
	 	 [Reserved]
	  	 	147	 
	 SECTION 14.02
	 	 Notices
	  	 	147	 
	 SECTION 14.03
	 	 [Reserved]
	  	 	149	 
	 SECTION 14.04
	 	 Certificate and Opinion as to Conditions Precedent
	  	 	149	 
	 SECTION 14.05
	 	 Statements Required in Certificate or Opinion
	  	 	149	 
	 SECTION 14.06
	 	 When Notes Disregarded
	  	 	149	 
	 SECTION 14.07
	 	 Rules by Trustee, Paying Agent and Registrar
	  	 	149	 
	 SECTION 14.08
	 	 Legal Holidays
	  	 	150	 
	 SECTION 14.09
	 	 GOVERNING LAW; Consent to Jurisdiction
	  	 	150	 
	 SECTION 14.10
	 	 No Recourse Against Others
	  	 	150	 
	 SECTION 14.11
	 	 Successors
	  	 	150	 
	 SECTION 14.12
	 	 Multiple Originals
	  	 	150	 
	 SECTION 14.13
	 	 Table of Contents; Headings
	  	 	150	 
	 SECTION 14.14
	 	 Indenture Controls
	  	 	150	 
	 SECTION 14.15
	 	 Severability
	  	 	151	 
	 SECTION 14.16
	 	 Waiver of Jury Trial
	  	 	151	 
	 SECTION 14.17
	 	 Calculations
	  	 	151	 
	 SECTION 14.18
	 	 USA Patriot Act
	  	 	151	 
			
	 Appendix A  –
	 	 Provisions Relating to Initial Notes and Additional Notes
	  			

  
 iv 

 EXHIBIT INDEX 
  

					
	 Exhibit A
	  	 —
	    	 Form of Initial Note

	 Exhibit B
	  	 —
	    	 Form of Transferee Letter of Representation

	 Exhibit C
	  	 —
	    	 Form of Supplemental Indenture (Future Guarantors)

	 Exhibit D
	  	 —
	    	 Form of Collateral Trust Agreement

  
 v 

 INDENTURE, dated as of November 2, 2017, among Warrior Met Coal, Inc. (the
“Issuer”), the Subsidiary Guarantors party hereto from time to time (as defined below) and Wilmington Trust, National Association, not in its individual capacity but solely in its capacity as trustee (the “Trustee”)
and as Priority Lien Collateral Trustee. 
 Each party agrees as follows for the benefit of the other parties and for the equal and ratable
benefit of the holders of (i) $350,000,000 aggregate principal amount of the Issuer’s 8.00% Senior Secured Notes due 2024 issued on the date hereof (the “Initial Notes”) and (ii) Additional Notes issued from time to
time (together with the Initial Notes, the “Notes”): 
 ARTICLE I 

DEFINITIONS AND INCORPORATION BY REFERENCE 

SECTION 1.01    Definitions 

“ABL Collateral Agent” means any agent or representative of the holders of the ABL Debt (including for purposes related to the
administration of the ABL Security Documents) pursuant to the Credit Agreement or any other ABL Lien Document. 
 “ABL Credit
Facilities” means one or more asset-based revolving credit facilities, including the Credit Agreement, with banks or other institutional or other lenders providing for asset-based revolving credit loans or letters of credit, as such credit
facility, in whole or in part, in one or more instances, may be amended, restated, modified, supplemented, extended, renewed, refunded, restructured, refinanced or replaced or otherwise modified from time to time and whether by the same or any other
agent, lender or group of lenders or other party. 
 “ABL Debt” means Funded Debt and letter of credit and reimbursement
obligations with respect thereto incurred by the Issuer or any of the Subsidiary Guarantors under Section 4.03(b)(i)(x) that is secured by an ABL Lien that is permitted to be incurred and so secured under each applicable Secured Debt Document.

 “ABL Intercreditor Agreement” means the intercreditor agreement dated as of the Issue Date between the ABL Collateral
Agent and the Priority Lien Collateral Trustee that sets forth the relative priority of the Priority Liens and Junior Liens, on the one hand, compared to the ABL Liens, on the other hand, as the same may be amended, restated, supplemented, renewed
or replaced or otherwise modified from time to time in accordance with this Indenture. 
 “ABL Lien” means a Lien granted,
or purported to be granted, by an ABL Security Document to the ABL Collateral Agent, at any time, upon any property of the Issuer or any Subsidiary Guarantor to secure ABL Lien Obligations; provided that any such Lien upon Collateral other than ABL
Priority Collateral will be junior to the Priority Liens and the Junior Liens. 
 “ABL Lien Cap” means the greater of:
(1) up to $125.0 million outstanding under any ABL Credit Facility or any other ABL Lien Documents (with letters of credit and bankers’ acceptances issued thereunder being deemed to have a principal amount equal to the face amount
thereof); and (2) the sum of (i) 75% of the book value (calculated in accordance with GAAP) of 

 
the inventory of the Issuer and any Restricted Subsidiaries (excluding LIFO reserves) and (ii) 90% of the book value of accounts receivable of the Issuer and any Restricted Subsidiaries (in each
case, calculated on a pro forma basis by the book value set forth on the consolidated balance sheet of the Issuer for the most recently ended four full fiscal quarters for which financial statements are available). 

“ABL Lien Documents” means any ABL Credit Facility, all ABL Security Documents, each of the other “Loan Documents”
(as that term is defined in any ABL Credit Facility) and each of the other agreements, documents and instruments executed pursuant thereto or in connection therewith. 

“ABL Lien Obligations” means the ABL Debt and all other Obligations in respect of ABL Debt, and guarantees thereof, and
including obligations with respect to loans, letters of credit, Swap Obligations, Bank Product Obligations, obligations to provide cash collateral in respect of letters of credit or Bank Product Obligations or indemnities in respect thereof, any
other indemnities or guarantees, and all other amounts payable under or that are secured, or intended to be secured, under the ABL Lien Documents and are subject to the terms of the ABL Intercreditor Agreement, solely to the extent such Obligations
and such guarantees thereof are permitted to be incurred under the ABL Lien Documents and the Secured Debt Documents and are so secured under the ABL Lien Documents. 

“ABL Lien Priority Obligations” means all ABL Lien Obligations other than Excess ABL Debt. 

“ABL Priority Collateral” means all rights, title and interests of each Grantor in the following Collateral, in each case,
whether now owned or existing or hereafter acquired or arising and wherever located, including, without duplication, (a) all rights of each Grantor to receive moneys due and to become due under or pursuant to the following, (b) all rights
of each Grantor to receive return of any premiums for or proceeds of any insurance, indemnity, warranty or guaranty with respect to the following or to receive condemnation proceeds with respect to the following, (c) all claims of each Grantor
for damages arising out of or for breach of or default under any of the following, and (d) all rights of each Grantor to terminate, amend, supplement, modify or waive performance under any of the following, to perform thereunder and to compel
performance and otherwise exercise all remedies thereunder: (i) all accounts, but solely for purposes of this clause (i), excluding rights to payment for any property which specifically constitutes Notes Priority Collateral that has been sold,
leased, licensed, assigned or otherwise disposed of; provided, however, that, for the avoidance of doubt, all rights to payment arising from any sale, lease, license, assignment or other disposition of inventory or goods (other than fixtures or
equipment) or the provision of services shall constitute ABL Priority Collateral; (ii) all chattel paper; (iii) all deposit accounts, securities accounts and all other demand, deposit, time, savings, cash management, passbook and similar
accounts maintained with any bank or other financial institution (other than to the extent any such deposit accounts, securities accounts or other accounts solely contain identifiable proceeds of any Notes Priority Collateral) and all cash, money,
securities, instruments and other investments deposited or required to be deposited in any of the foregoing; (iv) all inventory and all rights to receive payments, indebtedness and other obligations which arise as a result of the sale, lease or
other disposition of inventory or goods (in each case other than fixtures or equipment) or provision of services, including the right 

  
 2 

 
to payment of interest or finance charges; (v) all cash, money and cash equivalents (other than identifiable proceeds of any Notes Priority Collateral and cash solely for so long as it is
pledged to third parties to the extent permitted under the Credit Agreement); (vi) to the extent evidencing or governing any of the items referred to in the preceding clauses (i) through (v), all general intangibles (excluding Equity Interests
and any intellectual property to the extent such intellectual property is not attached to or necessary to sell any item of inventory), letters of credit (whether or not the respective letter of credit is evidenced by a writing), letter-of-credit rights, instruments and documents; provided that to the extent any of the foregoing also relates to any Notes Priority Collateral only that portion related to
the items referred to in the preceding clauses (i) through (v) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (vii) to the extent relating to any of the items referred to in the
preceding clauses (i) through (vi), all insurance; provided that to the extent any of the foregoing also relates to Notes Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through
(vi) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (viii) to the extent relating to any of the items referred to in the preceding clauses (i) through (vii), all supporting
obligations; provided that to the extent any of the foregoing also relates to Notes Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (vii) as being included in the ABL Priority
Collateral shall be included in the ABL Priority Collateral; (ix) to the extent relating to any of the items referred to in the preceding clauses (i) through (viii), all commercial tort claims; provided that to the extent any of the
foregoing also relates to Notes Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (viii) as being included in the ABL Priority Collateral shall be included in the ABL Priority
Collateral; (x) all books and records, including all books, databases, customer lists and records related thereto and any general intangibles at any time evidencing or relating to any of the foregoing; and (xi) all cash proceeds and,
solely to the extent not constituting Notes Priority Collateral, non-cash proceeds, products, accessions, rents and profits of or in respect of any of the foregoing (including all insurance proceeds) and all
collateral security, guarantees and other collateral support given by any Person with respect to any of the foregoing. Any Collateral of any type received in exchange for ABL Priority Collateral or Notes Priority Collateral pursuant to certain
enforcement actions or during an Insolvency Proceeding will be treated as priority Collateral of the same type as that for which it was received in exchange (ABL Priority Collateral or Notes Priority Collateral, as the case may be). For the
avoidance of doubt, no Excluded Property shall constitute ABL Priority Collateral. 
 “ABL Security Documents” means the
ABL Intercreditor Agreement, all security agreements, collateral assignments, mortgages, control agreements or other grants or transfers for security executed and delivered by the Issuer or any Subsidiary Guarantor creating (or purporting to create)
a Lien upon the ABL Priority Collateral in favor of the ABL Collateral Agent, for the benefit of any of the holders of ABL Lien Obligations, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time,
in accordance with its terms and the ABL Intercreditor Agreement. 

  
 3 

 “Acquired Indebtedness” means, with respect to any specified Person: 

(1)    Indebtedness of any other Person existing at the time such other Person is merged, consolidated or
amalgamated with or into or became a Restricted Subsidiary of such specified Person, and 

(2)    Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

Acquired Indebtedness will be deemed to have been Incurred, with respect to clause (1) of the preceding sentence, on the date such Person
becomes a Restricted Subsidiary and, with respect to clause (2) of the preceding sentence, on the date of consummation of such acquisition of such assets. 

“Act of Required Secured Parties” means, as to any matter at any time: 

(1)    until the earlier of (x) the Discharge of Notes Obligations and (y) the Outstanding Notes
Threshold Date, a direction in writing delivered to the Priority Lien Collateral Trustee by or with the written consent of, the holders of more than 50% of the Notes then outstanding; 

(2)    from and after the earlier of (x) the Discharge of Notes Obligations and (y) the
Outstanding Notes Threshold Date, but prior to the Discharge of Priority Lien Obligations, a direction in writing delivered to the Priority Lien Collateral Trustee by or with the written consent of, the holders of (or the Priority Lien
Representatives representing the holders of) more than 50% of the sum of: 
 (a)    the aggregate
outstanding principal amount of Priority Lien Debt (including the face amount of outstanding letters of credit whether or not then available or drawn); and 

(b)    other than in connection with the exercise of remedies, the aggregate unfunded commitments to extend
credit which, when funded, would constitute Priority Lien Debt; provided, however, that if at any time prior to the Discharge of Priority Lien Obligations the only remaining Priority Lien Obligations are Swap Obligations, then the term “Act of
Required Secured Parties” will mean the holders of a majority of the aggregate “settlement amount” (or similar term) as defined in the Swap Contracts (or, with respect to any Swap Contract that has been terminated in accordance with
its terms, the amount, if any, then due and payable by the Issuer or any other Grantor (exclusive of expenses and similar payments but including any early termination payments then due) under such Swap Contract) under all Swap Contracts; provided
further, that any Swap Contract with a “settlement amount” (or similar term) or termination payment that is a negative number shall be disregarded for purposes of all calculations required by the term “Act of Required Secured
Parties;” and 
 (3)    at any time after the Discharge of Priority Lien Obligations, a direction in writing
delivered to the Junior Lien Collateral Trustee by or with the written consent of the holders of (or the Junior Lien Representatives representing the holders of) Junior Lien Debt representing the Required Junior Lien Debtholders, 

  
 4 

 in each case, accompanied by, if required by the applicable Collateral Trustee, security or
indemnity satisfactory to the applicable Collateral Trustee for any losses, liabilities or expenses that may be incurred by the applicable Collateral Trustee in connection with such direction. 

For purposes of this definition, (a) Secured Debt registered in the name of, or beneficially owned by, the Issuer or any Affiliate of the
Issuer will be deemed not to be outstanding and neither the Issuer nor any Affiliate of the Issuer will be entitled to vote such Secured Debt (in each case, as identified in writing to the applicable Collateral Trustee by the applicable Secured Debt
Representative) and (b) votes will be determined in accordance with the provisions of the Collateral Trust Agreement. 

“Additional Notes” means the Notes issued under the terms of this Indenture subsequent to the Issue Date. 

“Additional Refinancing Amount” means, in connection with the Incurrence of any Refinancing Indebtedness, the aggregate
principal amount of additional Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay accrued and unpaid interest, premiums (including tender premiums), expenses, defeasance costs and fees in respect thereof. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. 
 “After-Acquired Property” means (i) equipment or fixtures acquired by the Issuer or any
other Grantor after the Issue Date which constitute accretions, additions or technological upgrades to the equipment or fixtures that form part of the Notes Priority Collateral, (ii) any equipment, fixtures and real estate of the Issuer or any
other Grantor acquired after the Issue Date, (iii) all of the Capital Stock acquired after the Issue Date and held by the Issuer or any other Grantor (other than any Capital Stock that is an Excluded Asset), (iv) substantially all of the other
tangible and intangible assets of the Issuer and each Grantor acquired after the Issue Date and (v) any asset or other property, whether personal, real or other, that was designated as an “Excluded Asset,” which asset or other
property ceases to constitute an Excluded Asset. 
 “Applicable Premium” means, with respect to any Note on any applicable
redemption date, as determined by the Issuer, the greater of: 
 (1)    1% of the then outstanding principal amount of
the Note; and 

  
 5 

 (2)    the excess of: 

(a)    the present value at such redemption date of (i) the redemption price of the Note, at
November 1, 2020 (such redemption price being set forth in Paragraph 5 of the Note) plus (ii) all required interest payments due on the Note through November 1, 2020 (excluding accrued but unpaid interest), computed using a
discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over 

(b)    the then outstanding principal amount of the Note. 

“Asset Sale” means: 

(1)    the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of
related transactions) of property or assets (including by way of Sale/Leaseback Transactions) outside the ordinary course of business of the Issuer or any Restricted Subsidiary (each referred to in this definition as a
“disposition”); or 
 (2)    the issuance or sale of Equity Interests (other than
directors’ qualifying shares and shares issued to foreign nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary) (whether in a single
transaction or a series of related transactions), 
 in each case other than: 

(a)    a disposition of Cash Equivalents or Investment Grade Securities or obsolete, damaged or worn out
property or equipment in the ordinary course of business or consistent with past practice or industry norm or assets otherwise no longer used or useful in the business of the Issuer or its Restricted Subsidiaries (as determined in good faith by the
Issuer); 
 (b)    the disposition of all or substantially all of the assets of the Issuer in a manner
permitted pursuant to Section 5.01 or any disposition that constitutes a Change of Control; 

(c)    any Restricted Payment or Permitted Investment that is permitted to be made, and is made, under
Section 4.04; 
 (d)    any disposition of assets of the Issuer or any Restricted Subsidiary or
issuance or sale of Equity Interests of any Restricted Subsidiary, which assets or Equity Interests so disposed or issued have an aggregate Fair Market Value (as determined in good faith by the Issuer) of less than $10.0 million; 

  
 6 

 (e)    any disposition of property or assets, or the issuance
of securities, by a Restricted Subsidiary to the Issuer or by the Issuer or a Restricted Subsidiary to a Restricted Subsidiary; 

(f)    [Reserved]; 

(g)    foreclosure, condemnation, expropriation, forced disposition or any similar action with respect to
any property or other asset of the Issuer or any of the Restricted Subsidiaries; 
 (h)    any
disposition of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary; 

(i)    the lease, assignment, sublease, license or sub-license of
any real or personal property in the ordinary course of business or consistent with past practice; 

(j)    any sale, discount or other disposition of inventory or other assets in the ordinary course of
business; 
 (k)    any grant in the ordinary course of business or consistent with past practice of any
license or sublicense of patents, trademarks, know-how or any other intellectual property; 

(l)    any disposition of assets by virtue of an asset exchange or swap with a third party in any
transaction (a) with an aggregate Fair Market Value less than or equal to $15.0 million, (b) involving a coal-for-coal swap, (c) to the extent that
an exchange is for Fair Market Value and for credit against the purchase price of similar replacement property or (d) consisting of a coal swap involving any right, title and interest of the Issuer or any Subsidiary (including any leasehold or
mineral estate) in and to any and all parcels of real property owned or operated by the Issuer or any Restricted Subsidiary, whether by lease, license or other use agreement, including but not limited to, coal leases and surface use agreements,
together with, in each case, all improvements and appurtenant fixtures (including all conveyors, preparation plants or other coal processing facilities, silos, shops and load out and other transportation facilities), easements and other property and
rights incidental to the ownership, lease or operation thereof, including but not limited to, access rights, water rights and extraction rights for minerals; 

(m)    any disposition (including by capital contribution), pledge, factoring, transfer or sale of
(i) Securitization Assets to any Special Purpose Securitization Subsidiary or otherwise and (ii) any other Securitization Assets subject to Liens securing Permitted Securitization Financings; 

(n)    [Reserved]; 

(o)    dispositions in connection with Permitted Liens; 

  
 7 

 (p)    any disposition of Capital Stock of a Restricted
Subsidiary pursuant to an agreement or other obligation with or to a Person (other than the Issuer or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets
(having been newly formed in connection with such acquisition), made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; 

(q)    the sale of any property in a Sale/Leaseback Transaction within twelve months of the acquisition of
such property; 
 (r)    dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements; 

(s)    any surrender, expiration or waiver of contract rights or the settlement, release, recovery on or
surrender of contract, tort or other claims of any kind; and 
 (t)    to the extent constituting an
Asset Sale, any termination, settlement, extinguishment or unwinding of Swap Obligations. 
 “Bank Product Obligations”
means all obligations arising under a Cash Management Agreement (or similar term) (as defined in any ABL Credit Facility), that are owed to a Cash Management Bank (or similar term) (as defined in any ABL Credit Facility). 

“Bankruptcy Code” means Title 11 of the United States Code. 

“Bankruptcy Law” means the Bankruptcy Code and any other federal, state or foreign law for relief of debtors. 

“Board of Directors” means, as to any Person, the board of directors or managers or other governing body, as applicable, of
such Person or any direct or indirect parent of such Person (or, if such Person is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. 

“Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or
required by law to close in New York City or the place of payment. 
 “Capital Stock” means: 

(1)    in the case of a corporation, corporate stock or shares; 

(2)    in the case of an association or business entity, any and all shares, interests, participations,
rights or other equivalents (however designated) of corporate stock; 

  
 8 

 (3)    in the case of a partnership or limited liability
company, partnership or membership interests (whether general or limited); and 
 (4)    any other
interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Capitalized Lease Obligation” means, at the time any determination thereof is to be made, the amount of the liability in
respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with GAAP; provided that obligations of the Issuer or its
Restricted Subsidiaries, or of a special purpose or other entity not consolidated with the Issuer and its Restricted Subsidiaries, either existing on the Issue Date or created thereafter that (a) initially were not included on the consolidated
balance sheet of the Issuer as capital lease obligations and were subsequently recharacterized as capital lease obligations or, in the case of such a special purpose or other entity becoming consolidated with the Issuer and its Restricted
Subsidiaries were required to be characterized as capital lease obligations upon such consolidation, in either case, due to a change in accounting treatment or otherwise, or (b) did not exist on the Issue Date and were required to be
characterized as capital lease obligations but would not have been required to be treated as capital lease obligations on the Issue Date had they existed at that time, shall for all purposes not be treated as Capitalized Lease Obligations or
Indebtedness. 
 “Capitalized Software Expenditures” means, for any period, the aggregate of all expenditures (whether paid
in cash or accrued as liabilities) by a Person and its Restricted Subsidiaries during such period in respect of licensed or purchased software or internally developed software and software enhancements that, in conformity with GAAP, are or are
required to be reflected as capitalized costs on the consolidated balance sheet of such Person and such Restricted Subsidiaries. 

“Cash Equivalents” means: 

(1)    U.S. dollars, pounds sterling, euros, the national currency of any member state in the European
Union or such local currencies held by an entity from time to time in the ordinary course of business; 

(2)    securities issued or directly and fully guaranteed or insured by the U.S. government or any country
that is a member of the European Union or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; 

(3)    certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or
less from the date of acquisition, bankers’ acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250.0 million and
whose long-term debt is rated “A” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency); 

  
 9 

 (4)    repurchase obligations for underlying securities of
the types described in clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(5)    commercial paper issued by a corporation (other than an Affiliate of the Issuer) rated at least “A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case maturing within one year after the date
of acquisition; 
 (6)    readily marketable direct obligations issued by any state of the United States
of America or any political subdivision thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) in each case with
maturities not exceeding two years from the date of acquisition; 
 (7)    Indebtedness issued by Persons
(other than the Sponsors or any of their Affiliates) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s (or reasonably equivalent ratings of another
internationally recognized ratings agency) in each case with maturities not exceeding two years from the date of acquisition; and 

(8)    investment funds investing at least 95% of their assets in securities of the types described in
clauses (1) through (7) above. 
 “cash management services” means cash management services for collections, treasury
management services (including controlled disbursement, overdraft, automated clearing house fund transfer services, return items and interstate depository network services), any demand deposit, payroll, trust or operating account relationships,
commercial credit cards, merchant card, purchase or debit cards, non-card e-payables services, and other cash management services, including electronic funds transfer
services, lockbox services, stop payment services and wire transfer services. 
 “Change of Control” means the occurrence
of either of the following: 
 (1)    the sale, lease or transfer, in one or a series of related
transactions, of all or substantially all the assets of the Issuer and its Subsidiaries, taken as a whole, to a Person other than any of the Permitted Holders; 

(2)    the Issuer becomes aware (by way of a report or any other filing pursuant to Section 13(d) of
the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision), including any group acting
for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), other than any of the Permitted Holders, in a single transaction or in a
related series of transactions, by way of merger, consolidation, amalgamation 

  
 10 

 
or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of
more than 50% of the total voting power of the Voting Stock of the Issuer; or 
 (3)    the adoption of a
plan related to the liquidation or dissolution of the Issuer. 
 Notwithstanding the foregoing: (A) the transfer of all or
substantially all of the assets between or among the Issuer and its Subsidiary Guarantors shall not itself constitute a Change of Control and (B) a Person or group shall not be deemed to have beneficial ownership of securities subject to a
stock purchase agreement, merger agreement or similar agreement (or voting or option agreement related thereto) prior to the consummation of the transactions contemplated by such agreement. 

In addition, notwithstanding the foregoing, a transaction in which the Issuer or a parent entity of the Issuer becomes a subsidiary of another
Person (such Person, the “New Parent”) shall not constitute a Change of Control if (a) the equityholders of the Issuer or such parent entity immediately prior to such transaction beneficially own, directly or indirectly through
one or more intermediaries, at least a majority of the total voting power of the Voting Stock of the Issuer or such New Parent immediately following the consummation of such transaction, substantially in proportion to their holdings of the equity of
the Issuer or such parent entity prior to such transaction or (b) immediately following the consummation of such transaction, no Person, other than a Permitted Holder, the New Parent or any subsidiary of the New Parent, beneficially owns,
directly or indirectly through one or more intermediaries, more than 50% of the voting power of the Voting Stock of the Issuer or the New Parent. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Collateral” means all of the property and assets, other than Excluded Assets, with respect to which a Lien is granted or
required or purported to be granted pursuant to the Security Documents as security for the Obligations under this Indenture. 

“Collateral Trust Agreement” means a collateral trust agreement to be entered into on a future date, by and among the Issuer,
the Subsidiary Guarantors, the Priority Lien Collateral Trustee and the Junior Lien Collateral Trustee substantially in the form of Exhibit D hereto. 

“Collateral Trust Joinder” means (1) with respect to the provisions of the Collateral Trust Agreement relating to any
additional Secured Debt, an agreement substantially in the form attached to the Collateral Trust Agreement as Exhibit A thereto and (2) with respect to the provisions of the Collateral Trust Agreement relating to the addition of additional
Subsidiary Guarantors, an agreement substantially in the form attached to the Collateral Trust Agreement as Exhibit B thereto. 

“Collateral Trustee” means each of (i) the Priority Lien Collateral Trustee, and (ii) the Junior Lien Collateral
Trustee. 

  
 11 

 “Commercially Reasonable Efforts for Real Property” means, for purposes of
obtaining consent from the landlord or lessor under a Real Property Lease, the use of commercially reasonable efforts by the Issuer or other applicable Grantor to obtain consent from the landlord or lessor under the applicable Real Property Lease to
the granting of a mortgage, or other lien or encumbrance on the leasehold estate thereunder; provided, however, that commercially reasonable efforts shall not include the payment of any consent fee, waiver fee or similar fee or require the Issuer or
the applicable Grantor to renegotiate or amend the applicable Real Property Lease in any manner detrimental or adverse to the Issuer or such Grantor. 

“Consolidated Depreciation and Amortization Expense” means, with respect to any Person for any period, the total amount of
depreciation, depletion and amortization expense, including the amortization of intangible assets, deferred financing fees, Capitalized Software Expenditures, development costs, capitalized customer acquisition costs, amortization of unrecognized
prior service costs and actuarial gains and losses related to pensions and other post-employment benefits, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP. 

“Consolidated Interest Expense” means, with respect to any Person for any period, the sum, without duplication, of: 

(1)    consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the
extent such expense was deducted in computing Consolidated Net Income (including the interest component of Capitalized Lease Obligations and net payments and receipts (if any) pursuant to interest rate Swap Obligations and excluding amortization of
deferred financing fees and original issue discount, debt issuance costs, commissions, fees and expenses, expensing of any bridge, commitment or other financing fees and non-cash interest expense attributable
to movement in mark to market valuation of Swap Obligations or other derivatives (in each case permitted hereunder) under GAAP); plus 

(2)    consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period,
whether paid or accrued; plus 
 (3)    commissions, discounts, yield and other fees and charges
Incurred in connection with any Permitted Securitization Financing which are payable to Persons other than the Issuer and the Restricted Subsidiaries; minus 

(4)    interest income for such period. 

For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. 

  
 12 

 “Consolidated Net Income” means, with respect to any Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; provided, however, that: 

(1)    any net after-tax extraordinary, exceptional, nonrecurring
or unusual gains or losses (less all fees and expenses relating thereto) or expenses or charges, any severance expenses, relocation expenses, restructuring expenses, curtailments or modifications to pension and post-retirement employee benefit
plans, excess pension charges or any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternate uses and fees, expenses or charges relating to closing costs, mine idling costs and
re-opening costs, mine start-up costs, acquisition integration costs, business optimization costs, recruiting costs, signing, retention or completion bonuses, litigation
and arbitration costs, charges, fees and expenses (including settlements), expenses or charges related to any issuance of Equity Interests (including the Issuer’s initial public offering of its common stock), costs associated with commencing
Public Company Compliance, Investment, acquisition, disposition, recapitalization or Incurrence, issuance, repayment, repurchase, refinancing, amendment or modification of Indebtedness (in each case, whether or not successful), and any fees,
expenses or charges related to the Transactions (including any transition-related expenses, and transaction expenses incurred before, on or after the Issue Date), in each case, shall be excluded; 

(2)    effects of purchase accounting adjustments (including the effects of such adjustments pushed down to
such Person and such Subsidiaries and including, without limitation, the effects of adjustments to (A) deferred rent, (B) Capitalized Lease Obligations or other obligations or deferrals attributable to capital spending funds with suppliers
or (C) any other deferrals of revenue) in amounts required or permitted by GAAP, resulting from the application of purchase accounting or the amortization or write-off of any amounts thereof, net of
taxes, shall be excluded; 
 (3)    the Net Income for such period shall not include the cumulative
effect of a change in accounting principles during such period; 
 (4)    any net after-tax income or loss from disposed, abandoned, transferred, closed or discontinued operations or fixed assets and any net after-tax gains or losses on disposal of
disposed, abandoned, transferred, closed or discontinued operations or fixed assets shall be excluded; 

(5)    any net after-tax gains or losses (less all fees and
expenses or charges relating thereto) attributable to business dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by management of the Issuer) shall be excluded; 

(6)    any net after-tax gains or losses (less all fees and
expenses or charges relating thereto) attributable to the early extinguishment or buy-back of Indebtedness, Swap Obligations or other derivative instruments shall be excluded; 

(7)    (a) the Net Income for such period of any Person that is not a Subsidiary of such Person, or is an
Unrestricted Subsidiary, or that is accounted 

  
 13 

 
for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted into cash) to
the referent Person or a Restricted Subsidiary thereof in respect of such period and (b) the Net Income for such period shall include any dividend, distribution or other payment in cash (or to the extent converted into cash) received by the
referent Person or a Subsidiary thereof (other than an Unrestricted Subsidiary of such referent Person) from any Person in excess of, but without duplication of, the amounts included in subclause (a); 

(8)    solely for the purpose of determining the amount available for Restricted Payments under
clause (1) of the definition of Cumulative Credit, the Net Income for such period of any Restricted Subsidiary (other than any Subsidiary Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar
distributions by such Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or similar
distributions have been legally waived; provided that the Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such
Restricted Subsidiary to such Person, to the extent not already included therein; 
 (9)    [Reserved];

 (10)    any impairment charges or asset write-offs, in each case pursuant to GAAP, and the
amortization of intangibles and other fair value adjustments arising pursuant to GAAP shall be excluded; 

(11)    any non-cash expense realized or resulting from stock
option plans, employee benefit plans or post-employment benefit plans, or grants or sales of stock, stock appreciation or similar rights, stock options, restricted stock, preferred stock or other rights shall be excluded; 

(12)    any (a) non-cash compensation charges, (b) costs
and expenses related to employment of terminated employees, or (c) costs or expenses realized in connection with or resulting from stock appreciation or similar rights, stock options or other rights of officers, directors and employees, in each
case of such Person or any Restricted Subsidiary, shall be excluded; 
 (13)    accruals and reserves
that are established or adjusted in connection with the closing of any acquisition and that are so required to be established or adjusted in accordance with GAAP or as a result of adoption or modification of accounting policies shall be excluded;

  
 14 

 (14)    [Reserved]; 

(15)    any currency translation gains and losses related to currency remeasurements of Indebtedness, and
any net loss or gain resulting from hedging transactions for currency exchange risk, shall be excluded; 

(16)    (a) to the extent covered by insurance and actually reimbursed, or, so long as such Person has made
a determination that there exists reasonable evidence that such amount will in fact be reimbursed by the insurer and only to the extent that such amount is (i) not denied by the applicable carrier in writing within 180 days and (ii) in
fact reimbursed within 365 days of the date of such evidence (with a deduction for any amount so added back to the extent not so reimbursed within 365 days), expenses with respect to liability or casualty events or business interruption shall be
excluded and (b) amounts estimated in good faith to be received from insurance in respect of lost revenues or earnings in respect of liability or casualty events or business interruption shall be included (with a deduction for amounts actually
received up to such estimated amount to the extent included in Net Income in a future period); 

(17)    Capitalized Software Expenditures and software development costs shall be excluded; 

(18)    non-cash charges for deferred tax asset valuation
allowances shall be excluded; 
 (19)    any deductions attributable to
non-controlling interests shall be excluded; and 
 (20)    any
gain, loss, income, expense or charge resulting from the application of any LIFO shall be excluded. 
 Notwithstanding the foregoing, for
the purpose of Section 4.04 only, there shall be excluded from Consolidated Net Income any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries or Restricted Subsidiaries to the extent such
dividends, repayments or transfers increase the amount of Restricted Payments permitted under Section 4.04 pursuant to clauses (4) and (5) of the definition of Cumulative Credit. 

“Consolidated Non-Cash Charges” means, with respect to any Person for any period, the
non-cash expenses (other than Consolidated Depreciation and Amortization Expense) of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person for such period on a
consolidated basis and otherwise determined in accordance with GAAP; provided that if any such non-cash expenses represent an accrual or reserve for potential cash items in any future period, the cash
payment in respect thereof in such future period shall be subtracted from EBITDA in such future period to the extent paid, but excluding from this proviso, for the avoidance of doubt, amortization of a prepaid cash item that was paid in a prior
period. 

  
 15 

 “Consolidated Taxes” means, with respect to any Person for any period, the
provision for taxes based on income, profits or capital, including, without limitation, state, franchise, property and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax
examinations). 
 “Consolidated Total Assets” means the total consolidated assets of the Issuer and the Restricted
Subsidiaries, as shown on the most recent balance sheet of the Issuer (less applicable reserves and other properly deductible items). 
 The
calculation of “Consolidated Total Assets” will be made on a pro forma basis consistent with the definition of Fixed Charge Coverage Ratio. 

“Contingent Obligations” means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends
or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any
obligation of such Person, whether or not contingent: 
 (1)    to purchase any such primary obligation
or any property constituting direct or indirect security therefor; 
 (2)    to advance or supply funds:

 (a)    for the purchase or payment of any such primary obligation; or 

(b)    to maintain working capital or equity capital of the primary obligor or otherwise to maintain the
net worth or solvency of the primary obligor; or 
 (3)    to purchase property, securities or services
primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. 

“Controlling Priority Lien Representative” means (i) until the earlier of (x) the Discharge of Notes Obligations
and (y) the Outstanding Notes Threshold Date, the Priority Lien Collateral Trustee and (ii) from and after the earlier of (x) the Discharge of Notes Obligations and (y) the Outstanding Notes Threshold Date, the Major Non-Controlling Priority Representative. 
 “Controlling Representative” means at any
time (i) prior to the Discharge of Priority Lien Obligations, the Controlling Priority Lien Representative and (ii) after the Discharge of Priority Lien Obligations, the Junior Lien Representative that represents the Series of Junior Lien
Debt with the then largest outstanding principal amount of Junior Lien Obligations. 

  
 16 

 “Corporate Trust Office” means the designated office of the Trustee in the
United States of America specified in Section 14.02 at which at any time its corporate trust business shall be administered, or such other address as the Trustee may designate from time to time by notice to the holders and the Issuer, or the
principal corporate trust office of any successor Trustee (or such other address as such successor Trustee may designate from time to time by notice to the holders and the Issuer). 

“Credit Agreement” means (i) the asset based revolving credit agreement, dated as of April 1, 2016 (as amended on
January 23, 2017, March 24, 2017, May 15, 2017 and October 3, 2017) among the Issuer, the financial institutions named therein, the other parties thereto and Citibank, N.A., as administrative and collateral agent, as amended,
restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or indenture
extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or
indenture or indentures increasing the amount loaned or issued thereunder or altering the maturity thereof (except to the extent any such refinancing, replacement or restructuring or agreement or instrument is designated by the Issuer to not be
included in the definition of “Credit Agreement”) and (ii) whether or not the credit agreement referred to in clause (i) remains outstanding, if designated by the Issuer to be included in the definition of “Credit
Agreement,” one or more (A) debt facilities or commercial paper facilities, providing for revolving credit loans, term loans, securitization or receivables financing (including through the sale of receivables to lenders or to special
purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B) debt securities, indentures or other forms of debt financing (including convertible or exchangeable debt instruments or bank guarantees or
bankers’ acceptances), or (C) instruments or agreements evidencing any other Indebtedness, in each case, with the same or different borrowers or issuers and, in each case, as amended, supplemented, modified, extended, restructured,
renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. 
 “Cumulative Credit” means the
sum of (without duplication): 
 (1)    an amount equal to 50% of Consolidated Net Income of the Issuer
for the period (taken as one accounting period) from October 1, 2017 to the end of the Issuer’s most recently ended fiscal quarter for which financial statements have been delivered to the Trustee at the time of such Restricted Payment
(or, in the case such Consolidated Net Income for such period is a deficit, minus 100% of such deficit), plus 

(2)    100% of the aggregate net proceeds, including cash and the Fair Market Value (as determined in good
faith by the Issuer) of property other than cash, received by the Issuer after the Issue Date (other than net proceeds to the extent such net proceeds have been used to Incur Indebtedness, Disqualified Stock, or Preferred Stock pursuant to
Section 4.03(b)(xiii)) from the issue or sale of Equity Interests of the Issuer or any direct or indirect parent entity of the Issuer (excluding Refunding Capital Stock (as defined below), Designated Preferred

  
 17 

 
Stock, Excluded Contributions, and Disqualified Stock), including Equity Interests issued upon exercise of warrants or options (other than an issuance or sale to the Issuer or a Restricted
Subsidiary), plus 
 (3)    100% of the aggregate amount of contributions to the capital of the
Issuer received in cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, and Disqualified
Stock and other than contributions to the extent such contributions have been used to Incur Indebtedness, Disqualified Stock, or Preferred Stock pursuant to Section 4.03(b)(xiii)), plus 

(4)    100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed
repurchase price, as the case may be, of any Disqualified Stock of the Issuer or any Restricted Subsidiary issued after the Issue Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or
exchanged for Equity Interests in the Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer (provided, in the case of any such parent, such Indebtedness or Disqualified Stock is retired or extinguished), plus

 (5)    100% of the aggregate amount received by the Issuer or any Restricted Subsidiary in cash and
the Fair Market Value (as determined in good faith by the Issuer) of property other than cash received by the Issuer or any Restricted Subsidiary from: 

(A)    the sale or other disposition (other than to the Issuer or a Restricted Subsidiary) of, or other
returns on Investments from, Restricted Investments made by the Issuer and the Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Issuer and the Restricted Subsidiaries by any Person (other than the
Issuer or any Restricted Subsidiary) and from repayments of loans or advances, and releases of guarantees, which constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made in a joint venture or
an Unrestricted Subsidiary pursuant to Section 4.04(b)(vii)), 
 (B)    the sale (other than to the
Issuer or a Restricted Subsidiary) of the Capital Stock of an Unrestricted Subsidiary, or 
 (C)    a
distribution or dividend from an Unrestricted Subsidiary, plus 
 (6)    in the event any
Unrestricted Subsidiary has been redesignated as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary, the Fair
Market Value (as determined in good faith by the Issuer) of the Investment of the Issuer or the Restricted 

  
 18 

 
Subsidiaries in such Unrestricted Subsidiary (which, if the Fair Market Value of such Investment shall exceed $25.0 million, shall be determined by the Board of Directors of the Issuer) at
the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable) (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made pursuant to
Section 4.04(b)(vii) or constituted a Permitted Investment). 
 “Default” means any event which is, or after notice or
passage of time or both would be, an Event of Default. 
 “Designated Non-cash
Consideration” means the Fair Market Value (as determined in good faith by the Issuer) of non-cash consideration received by the Issuer or a Restricted Subsidiary in connection with an Asset Sale that
is so designated as Designated Non-cash Consideration pursuant to an Officer’s Certificate, setting forth such valuation, less the amount of Cash Equivalents received in connection with a subsequent sale
of, or other receipt of Cash Equivalents in respect of, such Designated Non-cash Consideration. 

“Designated Preferred Stock” means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than
Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer’s Certificate, on the issuance date thereof. 
 “Discharge of Notes Obligations” means that the
Priority Lien Obligations in connection with the Notes are no longer secured by, and no longer required to be secured by, the Collateral pursuant to the terms of this Indenture or the other applicable Security Documents; provided that a Discharge of
Notes Obligations shall be deemed not to have occurred if the Issuer has entered into any replacement credit agreement or indenture that has been designated as such in accordance with the terms of the Collateral Trust Agreement. 

“Discharge of Priority Lien Obligations” means the indefeasible payment in full in cash of the Priority Lien Obligations
(other than Swap Obligations and indemnity and other contingent obligations as to which no claim has been asserted) and the termination of all commitments thereunder. 

“Disqualified Stock” means, with respect to any Person, any Capital Stock of such Person which, by its terms (or by the terms
of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: 

(1)    matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than
as a result of a change of control or asset sale), 
 (2)    is convertible or exchangeable for
Indebtedness or Disqualified Stock of such Person or any of its Restricted Subsidiaries, or 
 (3)    is
redeemable at the option of the holder thereof, in whole or in part (other than solely as a result of a change of control or asset sale), 

  
 19 

 in each case prior to 91 days after the earlier of the maturity date of the Notes or the date the Notes are no
longer outstanding; provided, however, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof prior to such date
shall be deemed to be Disqualified Stock; provided, further, however, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries or by any such plan to such
employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by such Person in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s
termination, death or disability; provided, further, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified
Stock shall not be deemed to be Disqualified Stock. 
 “Domestic Subsidiary” means a Restricted Subsidiary that is not a
Foreign Subsidiary. 
 “EBITDA” means, with respect to any Person for any period, the Consolidated Net Income of such
Person and its Restricted Subsidiaries for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: 

(1)    Consolidated Taxes; plus 

(2)    Fixed Charges and costs of surety bonds in connection with financing activities, together with items
excluded from the definition of Consolidated Interest Expense pursuant to clause (1) thereof; plus 

(3)    Consolidated Depreciation and Amortization Expense; plus 

(4)    Consolidated Non-Cash Charges; plus 

(5)    any expenses, costs or charges (other than Consolidated Depreciation and Amortization Expense)
related to any issuance of Equity Interests, Investment, acquisition, disposition, recapitalization or the Incurrence, modification or repayment of Indebtedness permitted to be Incurred by this Indenture (including a refinancing thereof) (whether or
not successful), including (i) such fees, expenses or charges related to the Transactions, the offering of the Notes or any other Indebtedness, (ii) any amendment or other modification of the Notes or other Indebtedness and
(iii) commissions, discounts, yield and other fees and charges (including any interest expense) related to any Permitted Securitization Financing; plus 

(6)    business optimization expenses and other restructuring charges, reserves or expenses (which, for the
avoidance of doubt, shall include without limitation, the effect of inventory optimization programs, facility, branch, office or business unit closures, facility, branch, office or business unit consolidations, retention, severance, systems
establishment costs, contract termination costs, future lease commitments, , excess pension charges, other post-employment benefits, black lung settlement, curtailment or other excess charges and fees, expenses, charges or premiums related to any
offering or modification of indebtedness of such person permitted to be incurred); plus 

  
 20 

 (7)    the amount of loss or discount in connection with a
Permitted Securitization Financing, including amortization of loan origination costs and amortization of portfolio discounts; plus 

(8)    any costs or expense incurred pursuant to any management equity plan or stock option plan or any
other management or employee benefit plan or agreement or any stock subscription or shareholder agreement, to the extent that such cost or expenses are funded with cash proceeds contributed to the capital of the Issuer or a Subsidiary Guarantor or
net cash proceeds of an issuance of Equity Interests of the Issuer (other than Disqualified Stock) solely to the extent that such net cash proceeds are excluded from the calculation of the Cumulative Credit; plus 

(9)    [Reserved]; plus 

(10)    the non-cash portion of “straight-line” rent
expense; plus 
 (11)    accretion of asset retirement obligations in accordance with Accounting
Standards Codifications 410 Asset Retirement and Environmental Obligations, and any similar accounting in prior periods; plus 

(12)    with respect to any joint venture that is not a Subsidiary and solely to the extent relating to any
net income referred to in clause (7) of the definition of Consolidated Net Income, an amount equal to the proportion of those items described in clauses (1) and (2) above relating to such joint venture corresponding to the Issuer’s
and the Restricted Subsidiaries’ proportionate share of such joint venture’s Consolidated Net Income (determined as if such joint venture were a Subsidiary); plus 

(13)    all adjustments set forth in the calculation of “Pro Forma Adjusted EBITDA” as set forth
under “Summary—Non-GAAP Financial Measures—Adjusted EBITDA” in the Offering Circular to the extent such adjustments, without duplication, continue to be applicable to such four-quarter
period; and 
 less, without duplication, to the extent the same increased Consolidated Net Income, 

(14)    non-cash items increasing Consolidated Net Income for such
period (excluding the recognition of deferred revenue or any items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges that reduced EBITDA in any prior period and any items for which cash was received in a
prior period). 

  
 21 

 “Environment” means soil, land surface or subsurface strata, water, surface
waters (including navigable waters, ocean waters within applicable territorial limits, streams, ponds, drainage basins, and wetlands), ground waters, drinking water supply, water related sediments, air, plant and animal life, and any other
environmental medium. 
 “Environmental Laws” means all laws (including common law), rules, regulations, codes, ordinances,
orders, decrees, judgments, injunctions or binding agreements issued, promulgated or entered into by any governmental authority, relating in any way to the Environment, the preservation, restoration or reclamation of natural resources, or the
presence, use, storage, discharge, management, release or threatened release of any pollutants, contaminants or hazardous or toxic substances, wastes or material or the effect of the environment on human health and safety. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Equity Offering” means any public or
private sale after the Issue Date of common Capital Stock or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable (other than Disqualified Stock), other than: 

(1)    public offerings with respect to the Issuer’s or such direct or indirect parent’s common
stock registered on Form S-4 or Form S-8; 

(2)    issuances to any Subsidiary of the Issuer; and 

(3)    any such public or private sale that constitutes an Excluded Contribution. 

“Excess ABL Debt” means the sum of (a) the amount by which the principal amount of the loans and (to the extent not
constituting loans under the ABL Credit Facilities) reimbursement obligations with respect to drawn letters of credit outstanding under the ABL Lien Documents and the undrawn amount of letters of credit outstanding under the ABL Lien Documents
exceeds the ABL Lien Cap, plus (b) the portion of interest, premium and fees that accrues or is charged with respect to that portion of the principal amount of the loans, reimbursement obligations and letters of credit described in clause
(a) of this definition. 
 “Excess Secured Debt” means the sum of (a) the amount by which the principal amount of
the Notes or loans outstanding under the Secured Debt Documents exceeds the sum of (x) $350.0 million, (y) Indebtedness incurred in an amount up to the Priority Lien Cap and (z) Indebtedness incurred in an amount up to the Junior Lien
Cap, plus (b) the portion of interest, premium and fees that accrues or is charged with respect to that portion of the principal amount of the Notes and loans, described in clause (a) of this definition. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. 

  
 22 

 “Excluded Assets” means: 

(1)    any leasehold rights and leasehold interest in Real Property leased by the Issuer or any other
Grantor that (a) is not Material Leased Real Property or (b) with respect to which the Issuer or the respective Grantor has not obtained, after using Commercially Reasonable Efforts for Real Property, the consent or approval of the
applicable lessor or landlord to the granting a mortgage or other lien or encumbrance on the leasehold estate, as required under the applicable Real Property Lease; 

(2)    any fee-owned real property that is not Material Owned Real
Property (and fixtures thereon); 
 (3)    (a) Equity Interests constituting more than 65% of each class
of issued and outstanding voting Equity Interests of (i) any foreign Subsidiary at any time, (ii) any direct or indirect domestic Subsidiary (x) substantially all the assets of which consist of Equity Interests of one or more foreign
Subsidiaries or (y) that is treated as a disregarded entity for U.S. federal income tax purposes that holds equity of one or more foreign Subsidiaries and (iii) a Person that is a “controlled foreign corporation” within the
meaning of Section 957(a) of the Code, (b) Equity Interests in partnerships, joint ventures and non-wholly owned Subsidiaries which (i) cannot be pledged without the consent of one or more third
parties which has not been obtained or (ii) if pledged, would result in adverse tax consequences to the applicable Grantor and (c) margin stock; 

(4)    motor vehicles and other assets subject to certificates of title to the extent that a security
interest therein cannot be perfected by the filing of a UCC-1 financing statement; 

(5)    (x) any property subject to a finance lease or purchase money security interest (in the case of any
after-acquired property, subject to a finance lease or purchase money security interest existing prior to the applicable acquisition), in each case, that is permitted to be incurred or (y) any lease, license or other similar agreement or
similar arrangement existing on the Issue Date and that is permitted to be incurred (in the case of clauses (x) and (y), other than any such property, lease, license, agreement or arrangement comprising or relating to any accounts, inventory or
any other asset included or intended by the parties hereto to be included in the borrowing base in the Credit Agreement, or affecting the sale, enforceability or collectability thereof) to the extent that a grant of a security interest therein would
give rise to a termination right (in favor of a Person other than the Issuer or any other Grantor) pursuant to any “change of control” or other similar provision or would invalidate or violate the terms of, as applicable, any such finance
lease, purchase money security interest, lease, license, agreement or arrangement or create a right of termination in favor of any other party thereto (other than the Issuer or any other Grantor) after giving effect to the applicable anti-assignment
provisions of the UCC, in each case under this clause (5), other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition; 

  
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 (6)    assets (including any Equity Interests) other than
accounts and inventory of any Grantor with respect to which a security interest is prohibited by or in violation of any requirement of laws applicable to such Grantor after giving effect to the applicable anti-assignment provisions of the UCC, other
than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition; 

(7)    commercial tort claims with a value of less than $250,000; 

(8)    any intent-to-use
trademark application prior to the filing and acceptance of a “Statement of Use”, “Amendment to Allege Use” or similar filing with respect thereto, only to the extent, if any, that, and solely during the period if any, in which,
the grant of a security interest therein may impair the validity or enforceability of such intent-to-use trademark application under applicable U.S. federal law); 

(9)    (a) any deposit account, securities account or commodities account of any Grantor holding at all
times less than $500,000 individually and $2,000,000 in the aggregate and (b) any other deposit account of any Grantor used exclusively to hold funds (i) to be used to pay payroll and other employee wage and benefit payments to or for the
benefit of any Grantor’s or any of its Subsidiaries’ officers, directors or employees, (ii) to be used to pay taxes (including sales tax) required to be collected, remitted or withheld by any Grantor or any of its Subsidiaries,
(iii) zero balance disbursement accounts or (iv) which any Grantor or any of its Subsidiaries holds on behalf of a third party (other than any Affiliate of such Grantor or such Subsidiary) as escrow or fiduciary for such third party; 

(10)    any assets if the creation or perfection of pledges of, or Liens in such assets would result in
material adverse tax consequences to the Issuer or any of its Subsidiaries, as reasonably determined by the Issuer in consultation with the ABL Collateral Agent and the Priority Lien Collateral Trustee; and 

(11)    any assets as to which the ABL Collateral Agent, the Priority Lien Collateral Trustee and the
Issuer reasonably agree that the cost to any Grantor of a security interest in such asset or perfection thereof is excessive in relation to the benefit to the applicable secured parties of the security to be afforded thereby; 

provided that “Excluded Assets” shall not include any proceeds, products, substitutions or replacements of Excluded Assets
(unless such proceeds, products, substitutions or replacements would otherwise constitute Excluded Assets). 
 “Excluded
Contributions” means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith by senior management or the Board of Directors of the Issuer) received by the Issuer after the Issue Date from: 

(1)    contributions to its common equity capital, and 

  
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 (2)    the sale (other than to a Subsidiary of the Issuer or
to any Subsidiary management equity plan or stock option plan or any other management or employee benefit plan or agreement) of Equity Interests (other than Disqualified Stock and Designated Preferred Stock) of the Issuer, 

in each case designated as Excluded Contributions pursuant to an Officer’s Certificate. 

“Excluded Property” shall have the meaning as set forth in the ABL Intercreditor Agreement. 

“Excluded Subsidiary” means any Subsidiary of the Issuer that is (a) an Unrestricted Subsidiary, (b) a Domestic
Subsidiary that is not a Wholly Owned Subsidiary (for so long as such Subsidiary remains a non-Wholly Owned Subsidiary), (c) prohibited by any applicable requirement of law or by any contractual obligation
existing on the Issue Date (or, if later, on the date such Subsidiary is acquired pursuant to a permitted acquisition (so long as such prohibition is not incurred in contemplation of such acquisition)) from providing a guarantee of the Obligations
or that would require the consent, approval, license or authorization of any governmental authority in order to provide such guarantee or where the provision of such guarantee would result in material adverse tax consequences to the Issuer and its
Subsidiaries as reasonably determined by the Issuer, (d) a direct or indirect Domestic Subsidiary (A) substantially all of the assets of which consist of the Equity Interests of one or more Foreign Subsidiaries or (B) that is treated
as a disregarded entity for U.S. federal income tax purposes that holds Equity Interests of one or more Foreign Subsidiaries (a “Disregarded Domestic Person”), (e) a Domestic Subsidiary that is a Subsidiary of a Foreign Subsidiary,
(f) a Domestic Subsidiary that is an indirect Subsidiary of a Disregarded Domestic Person, (g) an Immaterial Subsidiary, (h) a controlled foreign corporation under Section 957(a) of the Code or (i) any other Subsidiary to
the extent that the burden or cost of providing a guarantee of the Obligations outweighs the benefit afforded thereby as reasonably determined by the Issuer. 

“Fair Market Value” means, with respect to any asset or property, the price which could be negotiated in an arm’s-length transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction, which, in the case of an Asset Sale,
Restricted Payment or Investment shall be determined either, at the option of the Issuer, at the time of the Asset Sale, Restricted Payment or Investment or as of the date of the definitive agreement with respect to such Asset Sale, Restricted
Payment or Investment, and without giving effect to any subsequent change in value. 
 “Fixed Charge Coverage Ratio” means,
with respect to any Person for any period, the ratio of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that the Issuer or any of its Restricted Subsidiaries Incurs, repays, repurchases or
redeems any Indebtedness (other than in the case of any Permitted Securitization Financing, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable period) or issues,
repurchases or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but prior to the event for which the

  
 25 

 
calculation of the Fixed Charge Coverage Ratio is made (the “Fixed Charge Calculation Date”), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to
such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. 

For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and
discontinued operations (as determined in accordance with GAAP) and any operational changes, business realignment projects or initiatives, restructurings or reorganizations that the Issuer or any Restricted Subsidiary has determined to make and/or
made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Fixed Charge Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be
calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and other operational changes, business realignment projects or initiatives,
restructurings or reorganizations (and the change of any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any
Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation,
amalgamation, discontinued operation, operational change, business realignment project or initiative, restructuring or reorganization that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be
calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, amalgamation, consolidation, operational change, business realignment project or initiative,
restructuring or reorganization had occurred at the beginning of the applicable four-quarter period. If since the beginning of such period any Restricted Subsidiary is designated an Unrestricted Subsidiary or any Unrestricted Subsidiary is
designated a Restricted Subsidiary, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such designation had occurred at the beginning of the applicable four-quarter period. 

For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Issuer as set forth in an Officer’s Certificate, to
reflect (1) operating expense reductions and other operating improvements, synergies or cost savings reasonably expected to result from the applicable event, which adjustments (x) shall not exceed 25% of EBITDA for the applicable four
fiscal quarter period (calculated prior to giving effect to such capped adjustments (but, for the avoidance of doubt, after giving effect to other uncapped pro forma adjustments)) and (y) shall only be included to the extent that the actions
resulting in such operating expense reductions and other operating improvements, synergies or costs savings are taken or commenced or expected to be taken or commenced (in the good faith determination of the Issuer) within 18 months after the date
any such calculation is performed, and (2) all adjustments set forth in the calculation of “Pro Forma Adjusted EBITDA” as set forth under “Summary—Non-GAAP Financial
Measures—Adjusted EBITDA” in the Offering Circular to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period. 

  
 26 

 If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the
interest on such Indebtedness shall be calculated as if the rate in effect on the Fixed Charge Calculation Date had been the applicable rate for the entire period (taking into account any Swap Obligations applicable to such Indebtedness if such Swap
Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate of
interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed
based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered
rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. 

For purposes of this definition, any amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the average
exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Fixed Charges” means, with respect to any Person for any period, the sum, without duplication, of: (1) Consolidated
Interest Expense (excluding amortization or write-off of deferred financing costs, discounts or premiums) of such Person for such period, and (2) all cash dividend payments (excluding items eliminated in
consolidation) on any series of Preferred Stock or Disqualified Stock of such Person and its Restricted Subsidiaries. 
 “Foreign
Subsidiary” means a Restricted Subsidiary not organized or existing under the laws of the United States of America or any state thereof or the District of Columbia. 

“Funded Debt” means, with respect to any specified Person, any Indebtedness of such Person (excluding accrued expenses and
trade payables), whether or not contingent, 
 (1)    in respect of borrowed money or advances; or 

(2)    evidenced by loan agreements, bonds, notes or debentures or similar instruments or letters of credit
(solely to the extent such letters of credit or other similar instruments have been drawn and remain unreimbursed) or, without duplication, reimbursement agreements in respect thereof. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession, which are in effect on the Issue Date. For the purposes of this Indenture, the term “consolidated” with respect to any Person 

  
 27 

 
shall mean such Person consolidated with its Restricted Subsidiaries, and shall not include any Unrestricted Subsidiary, but the interest of such Person in an Unrestricted Subsidiary will be
accounted for as an Investment. 
 “Grantor” means the Issuer, the Subsidiary Guarantors and any other Person (if any) that
at any time provides collateral for any Secured Obligations. 
 “guarantee” means a guarantee (other than by endorsement of
negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness
or other obligations. The amount of any guarantee shall be deemed to be an amount equal to the stated or determinable amount of the Indebtedness in respect of which such guarantee is made or, if not stated or determinable, the maximum reasonably
anticipated liability in respect thereof as determined by such person in good faith. 
 “holder” or
“noteholder” means the Person in whose name a Note is registered on the Registrar’s books. 
 “Immaterial
Subsidiary” means, at any date of determination, each of the Subsidiaries of the Issuer (a) whose total assets as of the last day of the fiscal quarter of the Issuer most recently ended were less than 2.5% of the Consolidated Total
Assets of the Issuer and its Subsidiaries at such date and (b) whose gross revenues for the last four fiscal quarter period of the Issuer most recently ended were less than 2.5% of the consolidated gross revenues of Issuer and its Subsidiaries
for such four fiscal quarter period, in each case determined in accordance with GAAP; provided that Subsidiaries that are not Subsidiary Guarantors solely because they do not meet the thresholds set forth in clauses (a) and (b) shall
comprise in the aggregate less than 5.0% of Consolidated Total Assets of the Issuer and its Subsidiaries as of the last day of the fiscal quarter of the Issuer most recently ended and less than 5.0% of the consolidated gross revenues of the Issuer
and its Subsidiaries for the last four fiscal quarter period of the Issuer most recently ended. 
 “Incur” means issue,
assume, guarantee, incur or otherwise become liable for; provided, however, that any Indebtedness or Capital Stock of a Person existing at the time such person becomes a Subsidiary (whether by merger, amalgamation, consolidation,
acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary. 

“Indebtedness” means, with respect to any Person: 

(1)    the principal of any indebtedness of such Person, whether or not contingent, (a) in respect of
borrowed money, (b) evidenced by bonds, notes, debentures or similar instruments or letters of credit or bankers’ acceptances (or, without duplication, reimbursement agreements in respect thereof), (c) representing the deferred and
unpaid purchase price of any property (except any such balance that constitutes (i) a trade payable or similar obligation to a trade creditor Incurred in the ordinary course of business or consistent with past practice or industry norm,
(ii) any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with 

  
 28 

 
GAAP, and (iii) liabilities accrued in the ordinary course of business or consistent with past practice), which purchase price is due more than twelve months after the date of placing the
property in service or taking delivery and title thereto, (d) in respect of Capitalized Lease Obligations, or (e) representing any Swap Obligations, if and to the extent that any of the foregoing indebtedness would appear as a liability on
a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with GAAP; 

(2)    to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as
obligor, guarantor or otherwise, the obligations referred to in clause (1) of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business or consistent with past practice); and 

(3)    to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset
owned by such Person (whether or not such Indebtedness is assumed by such Person); provided, however, that the amount of such Indebtedness will be the lesser of: (a) the Fair Market Value (as determined in good faith by the
Issuer) of such asset at such date of Incurrence, and (b) the principal amount of such Indebtedness of such other Person; 
 provided,
however, that, notwithstanding the foregoing, Indebtedness shall be deemed not to include (1) Contingent Obligations Incurred in the ordinary course of business or consistent with past practice and not in respect of borrowed money;
(2) deferred or prepaid revenues; (3) purchase price holdbacks in respect of a portion of the purchase price of an asset to satisfy warranty or other unperformed obligations of the respective seller; (4) Obligations under or in
respect of Permitted Securitization Financings; (5) trade and other ordinary course payables, accrued expenses and intercompany liabilities arising in the ordinary course of business or consistent with past practice; (6) [Reserved];
(7) obligations in respect of Third Party Funds; (8) in the case of the Issuer and its Restricted Subsidiaries (x) all intercompany Indebtedness having a term not exceeding 364 days (inclusive of any roll-over or extensions of terms)
and made in the ordinary course of business or consistent with past practice or industry norm and (y) intercompany liabilities in connection with cash management, tax and accounting operations of the Issuer and its Restricted Subsidiaries;
(9) any obligations under Swap Obligations that are not Incurred for speculative purposes; (10) obligations under federal coal leases; and (11) obligations under coal leases (which may be terminated at the discretion of the lessee).

 Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect
to, the effects of Accounting Standards Codification Topic No. 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of
accounting for any embedded derivatives created by the terms of such Indebtedness and obligations (other than obligations with respect to Debt for borrowed money or other Funded Debt) related to surface rights under an agreement for the acquisition
of surface rights for the production of coal reserves in the ordinary course of business in a manner consistent with historical practice of the Issuer and its Subsidiaries; and any such amounts that would have constituted Indebtedness under this
Indenture but for the application of this sentence shall not be deemed an Incurrence of Indebtedness under this Indenture. 

  
 29 

 “Indenture” means this Indenture as amended or supplemented from time to time.

 “Independent Financial Advisor” means an accounting, appraisal or investment banking firm or consultant, in each case of
nationally recognized standing, that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. 

“Initial Notes” means the $350.0 million principal amount of the Issuer’s 8.00% Senior Secured Notes due 2024
issued on the date hereof. 
 “Insolvency Proceeding” means: 

(1)    any voluntary or involuntary case or proceeding under any Bankruptcy Law with respect to any
Grantor; 
 (2)    any other voluntary or involuntary insolvency or bankruptcy case or proceeding, or any
receivership, liquidation or other similar case or proceeding with respect to any Grantor or with respect to a material portion of its assets; 

(3)    any liquidation, dissolution, or winding up of any Grantor (other than any of the foregoing
permitted under the ABL Lien Documents and the Secured Debt Documents) whether voluntary or involuntary and whether or not involving insolvency or bankruptcy; or 

(4)    any assignment for the benefit of creditors or any other marshaling of assets or liabilities of any
Grantor. 
 “Interest Payment Date” has the meaning set forth in Exhibit A hereto. 

“Investment Grade Rating” means a rating equal to or higher than Baa3 (or the equivalent) by Moody’s or BBB- (or the equivalent) by S&P, or an equivalent rating by any other Rating Agency. 

“Investment Grade Securities” means: 

(1)    securities issued or directly and fully guaranteed or insured by the U.S. government or any agency
or instrumentality thereof (other than Cash Equivalents), 
 (2)    securities that have a rating equal
to or higher than Baa3 (or equivalent) by Moody’s and BBB- (or equivalent) by S&P, but excluding any debt securities or loans or advances between and among the Issuer and its Subsidiaries, 

  
 30 

 (3)    investments in any fund that invests exclusively in
investments of the type described in clauses (1) and (2) which fund may also hold immaterial amounts of cash pending investment and/or distribution, and 

(4)    corresponding instruments in countries other than the United States customarily utilized for high
quality investments and in each case with maturities not exceeding two years from the date of acquisition. 
 “Investments”
means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees of loans), advances or capital contributions (excluding accounts receivable, trade credit and
advances to customers and commission, travel and similar advances to officers, employees and consultants made in the ordinary course of business and any assets or securities received in satisfaction or partial satisfaction thereof from financially
troubled account debtors to the extent reasonably necessary in order to prevent or limit loss and any prepayments and other credits to suppliers made in the ordinary course of business), purchases or other acquisitions for consideration of
Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by GAAP to be classified on the balance sheet of such Person in the same manner as the other investments included in this definition to
the extent such transactions involve the transfer of cash or other property. For purposes of the definition of Unrestricted Subsidiary and Section 4.04: 

(1)    “Investments” shall include the portion (proportionate to the Issuer’s equity
interest in such Subsidiary) of the Fair Market Value (as determined in good faith by the Issuer) of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary; provided,
however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal to an amount (if positive) equal to: 

(a)    the Issuer’s “Investment” in such Subsidiary at the time of such redesignation less

 (b)    the portion (proportionate to the Issuer’s equity interest in such Subsidiary) of the Fair
Market Value (as determined in good faith by the Issuer) of the net assets of such Subsidiary at the time of such redesignation; and 

(2)    any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair Market
Value (as determined in good faith by the Issuer) at the time of such transfer, in each case as determined in good faith by the Board of Directors of the Issuer. 

“Issue Date” means November 2, 2017, which is the date on which the Initial Notes are originally issued. 

  
 31 

 “Junior Lien” means a Lien on Collateral granted by a Junior Lien Security
Document to the Junior Lien Collateral Trustee, at any time, upon any property of the Issuer or any Subsidiary Guarantor to secure Junior Lien Obligations. 

“Junior Lien Cap” means, as of any date of determination, the sum of (i) $100.0 million, less any amount incurred
pursuant to clause (i) of the definition of Priority Lien Cap, plus (ii) at any time on or after June 30, 2018 the amount of Junior Lien Debt that may be incurred by the Issuer such that, after giving pro forma effect to such
Incurrence and the application of the net proceeds therefrom, the Secured Leverage Ratio would not exceed 3.00 to 1.00. 
 “Junior
Lien Collateral Trustee” means such Person nominated by the holders of the Junior Lien Obligations, in its capacity as collateral trustee for the Junior Lien Secured Parties under the Collateral Trust Agreement, together with its successors
in such capacity. 
 “Junior Lien Debt” means Funded Debt (excluding any ABL Debt and any Priority Lien Debt), that is
secured by a Junior Lien and that is permitted to be incurred and permitted to be so secured under each applicable Secured Debt Document; 

provided, that: 

(a)    on or before the date on which such Funded Debt is incurred by the Issuer, such Funded Debt is
designated by the Issuer as “Junior Lien Debt” for the purposes of the Secured Debt Documents and the Collateral Trust Agreement pursuant to the procedures set forth in the Collateral Trust Agreement; provided, that no Funded Debt may be
designated as both Junior Lien Debt and Priority Lien Debt and no ABL Debt may be designated as Junior Lien Debt; 

(b)    unless such Funded Debt is issued under an existing Secured Debt Document for any Series of Junior
Lien Debt whose Secured Debt Representative is already party to the Collateral Trust Agreement, the Junior Lien Representative for such Funded Debt executes and delivers a Collateral Trust Joinder in accordance with the terms of the Collateral Trust
Agreement; and 
 (c)    all other relevant requirements set forth in the Collateral Trust Agreement are
complied with. 
 “Junior Lien Documents” means, collectively, any indenture, credit agreement or other agreement pursuant
to which any Junior Lien Debt is incurred and the Junior Lien Security Documents. 
 “Junior Lien Obligations” means Junior
Lien Debt and all other Obligations in connection therewith, including, without limitation, interest and premium (if any) (including post-petition interest whether or not allowable), and all guarantees of any of the foregoing. 

“Junior Lien Representative” means in the case of any Series of Junior Lien Debt, the trustee, agent or representative of the
holders of such Series of Junior Lien Debt who 

  
 32 

 
maintains the transfer register for such Series of Junior Lien Debt and (A) is appointed as a Junior Lien Representative (for purposes related to the administration of the Security
Documents) pursuant to the indenture, credit agreement or other agreement governing such Series of Junior Lien Debt, together with its successors in such capacity, and (B) who has executed a Collateral Trust Joinder, together with its successor
in such capacity. 
 “Junior Lien Secured Parties” means the holders of Junior Lien Obligations and each Junior Lien
Representative and the Junior Lien Collateral Trustee. 
 “Junior Lien Security Documents” means all security agreements,
pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Issuer or any Subsidiary Guarantor creating (or purporting
to create) a Lien upon Collateral in favor of the Junior Lien Collateral Trustee, for the benefit of any of the Junior Lien Secured Parties, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time,
in accordance with its terms and the Collateral Trust Agreement. 
 “Lien” means, with respect to any asset, any mortgage,
lien, pledge, charge, security interest or similar encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement or any
lease in the nature thereof); provided that in no event shall an operating lease or an agreement to sell or agreement to give a security interest in and any filing or agreement to give any financing statement under the UCC (or equivalent
statutes) of any jurisdiction be deemed to constitute a Lien. 
 “Major Non-Controlling
Priority Representative” means (i) prior to an Outstanding Notes Threshold Date, the Priority Lien Representative of a Series of Priority Lien Debt (other than the trustee with respect to the Priority Lien Debt pursuant to the Notes)
that constitutes the largest outstanding principal amount of any then outstanding Series of Priority Lien Debt (provided, however, that if there are two outstanding Series of Priority Lien Debt which have an equal outstanding principal amount, the
Series of Priority Lien Debt with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this clause (i)) and (ii) on or after an Outstanding Notes Threshold Date, the Priority Lien
Representative of the Series of Priority Lien Debt that constitutes the largest outstanding principal amount of any then outstanding Series of Priority Lien Debt (provided, however, that if there are two outstanding Series of Priority Lien Debt
which have an equal outstanding principal amount, the Series of Priority Lien Debt with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this clause (ii)). 

“Management Group” means the group consisting of the directors, executive officers and other management personnel of the
Issuer or any direct or indirect parent of the Issuer, as the case may be, on the Issue Date together with (1) any new directors whose election by such boards of directors or whose nomination for election by the equityholders of the Issuer or
any direct or indirect parent of the Issuer, as applicable, was approved by a vote of a majority of the directors of the Issuer or any direct or indirect parent of the Issuer, as applicable, then still in office who were either directors on the
Issue Date or whose election or nomination was previously so approved and (2) executive officers and other management personnel of the Issuer 

  
 33 

 
or any direct or indirect parent of the Issuer, as applicable, hired at a time when the directors on the Issue Date together with the directors so approved constituted a majority of the directors
of the Issuer or any direct or indirect parent of the Issuer, as applicable. 
 “Material Leased Real Property” means
(i) as of the Issue Date, all Real Property located in Tuscaloosa County or Jefferson County, Alabama subject to a Real Property Lease under which the Issuer or any other Grantor is the lessee or tenant (x) that is essential to the
Issuer’s mine plan for the period from the Issue Date to the Stated Maturity of the Notes and (y) in respect of which the coal royalties payable under such Real Property Lease are or would reasonably be expected to be equal to or greater
than $1.5 million, in the aggregate, during the period from the Issue Date to the Stated Maturity of the Notes, in the case of each of clauses (x) and (y) above, as determined by the Issuer on the Issue Date in its reasonable
judgment, and (ii) any other Real Property subject to a Real Property Lease that the Issuer or any other Grantor enters into or acquires after the Issue Date as the lessee or tenant thereunder for the purpose of mining or conducting mining
operations on such leased Real Property (including, without limitation, extraction of coal and other minerals and the processing and transport thereof) (x) that is essential to the Issuer’s mine plan for the period from the date of
execution of such Real Property Lease to the Stated Maturity of the Notes and (y) in respect of which the coal royalties payable under such Real Property Lease are or would reasonably be expected to be equal to or greater than
$1.5 million, in the aggregate during the period from date of execution of such Real Property Lease to the Stated Maturity of the Notes, in the case of each of clauses (x) and (y) above, as determined by the Issuer on the date of
execution of such Real Property Lease in its reasonable judgment. 
 “Material Owned Real Property” means (i) as of
the Issue Date, all Real Property consisting of a fee or surface estate located in Tuscaloosa County or Jefferson County, Alabama owned by the Issuer or any other Grantor that is essential to the Issuer’s mine plan or surface operations
(including the transportation and/or shipping of coal, support for mining activities and maintenance of underground and surface equipment) for the period from the Issue Date to the Stated Maturity of the Notes as determined by the Issuer on the
Issue Date in its reasonable judgment, and (ii) any other Real Property consisting of a fee or surface estate that the Issuer or any other Grantor acquires an ownership interest in after the Issue Date for the purpose of mining or conducting
mining operations on such Real Property (including, without limitation, extraction of coal and other minerals and the processing and transport thereof) the fair value of which, as of the date of acquisition thereof, is equal to or greater than
$10.0 million as determined by the applicable tax assessor. 
 “Mine” means any excavation or opening into the earth
in the United States now and hereafter made from which coal or other minerals are or can be extracted on or from any of the real properties in which any Person holds an ownership, leasehold or other interest. 

“Mining Laws” means any and all applicable federal, state, local and foreign statutes, laws, regulations, legally-binding
guidance, ordinances, rules, judgments, orders, decrees or common law causes of action relating to mining operations and activities under the Mineral Leasing Act of 1920, the Federal Coal Leasing Amendments Act or the Surface Mining Control and
Reclamation Act, each as amended or its replacement, and their state and local counterparts or equivalents. 

  
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 “Mining Lease” means a lease, license or other use agreement which provides the
Issuer or any Restricted Subsidiary the real property and water rights, other interests in land, including coal, mining and surface rights, easements, rights of way and options, and rights to timber and natural gas (including coalbed methane and gob
gas) necessary or integral in order to recover coal from any Mine. Leases (other than Capitalized Lease Obligations or operating leases of personal property even if such personal property would become fixtures) which provide the Issuer or any other
Restricted Subsidiary the right to construct and operate a conveyor, crusher plant, silo, load out facility, rail spur, shops, offices and related facilities on the surface of the real property containing such reserves shall also be deemed a Mining
Lease. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business thereof.

 “Mortgages” means all mortgages, debentures, hypothecs, deeds of trust, deeds to secure Indebtedness and similar
documents, instruments and agreements (and all amendments, modifications and supplements thereof) creating, evidencing, perfecting or otherwise establishing the Liens on real estate and other related assets to secure payment of the Notes and the
Subsidiary Guarantees or any part thereof. 
 “Net Income” means, with respect to any Person, the net income (loss) of such
Person and its Restricted Subsidiaries, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. 

“Net Proceeds” means the aggregate cash proceeds received by the Issuer or any Restricted Subsidiary in respect of any Asset
Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash payments received by
way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring person of Indebtedness relating to the disposed assets or other
consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash
Consideration (including, without limitation, legal, accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into
account any available tax credits or deductions and any tax sharing arrangements related solely to such disposition), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than
pursuant to Section 4.06(b)) to be paid as a result of such transaction, and any deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with GAAP against any liabilities associated with the asset disposed of in
such transaction and retained by the Issuer after such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any
indemnification obligations associated with such transaction and payments made to holders of non-controlling interests in non-Wholly Owned Subsidiaries as a result of
such Asset Sale. 
 Notwithstanding the foregoing or anything to the contrary in Section 4.06, to the extent that the Issuer has
determined in good faith that repatriation (i) of any or all of the Net 

  
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Proceeds of any Asset Sales by a Foreign Subsidiary is prohibited, restricted or delayed by applicable local law or (ii) of any or all of the Net Proceeds of any Assets Sales by a Foreign
Subsidiary could result in a material adverse tax consequence, the portion of such Net Proceeds so affected (but only for so long as such Net Proceeds are so affected) will not constitute Net Proceeds or be required to be applied in compliance with
Section 4.06; provided that, in any event, the Issuer shall use its commercially reasonable efforts to take all actions that are reasonably required to eliminate such tax effects. 

“New Parent” has the meaning specified in the definition of Change of Control. 

“Notes Obligations” means Obligations in respect of the Notes, this Indenture and the Subsidiary Guarantees. 

“Notes Priority Collateral” means all rights, title and interests of each Grantor in the following Collateral, in each case,
whether now owned or existing or hereafter acquired or arising and wherever located, including, without duplication, (a) all rights of each Grantor to receive moneys due and to become due under or pursuant to the following, (b) all rights
of each Grantor to receive return of any premiums for or proceeds of any insurance, indemnity, warranty or guaranty with respect to the following or to receive condemnation proceeds with respect to the following, (c) all claims of each Grantor
for damages arising out of or for breach of or default under any of the following and (d) all rights of each Grantor to terminate, amend, supplement, modify or waive performance under any of the following, to perform thereunder and to compel
performance and otherwise exercise all remedies thereunder: (i) all machinery and equipment; (ii) all Material Owned Real Property and Material Leased Real Property; (iii) all intellectual property; (iv) all Equity Interests in
all direct Subsidiaries of any Grantor; (v) all intercompany indebtedness of the Issuer and its Subsidiaries owed to any Grantor; (vi) all as-extracted collateral unless (and until) it is (or has
become) inventory; (vii) all fixtures; (viii) all Related Mining Assets; (ix) all other assets of any Grantor, whether real, personal or mixed, in each case, not constituting ABL Priority Collateral; (x) to the extent evidencing
or governing any of the items referred to in the preceding clauses (i) through (ix), all general intangibles, letters of credit (whether or not the respective letter of credit is evidenced by a writing), letter-of-credit rights, instruments and documents; provided, however, that to the extent any of the foregoing also evidence, govern, secure or otherwise relate to any ABL Priority Collateral only that
portion related to the items referred to in the preceding clauses (i) through (ix) as being included in the Notes Priority Collateral shall be included in the Notes Priority Collateral; (xi) to the extent relating to any of the items
referred to in the preceding clauses (i) through (x), all insurance; provided that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses
(i) through (x) as being included in the Notes Priority Collateral shall be included in the Notes Priority Collateral; (xii) to the extent relating to any of the items referred to in the preceding clauses (i) through (xi),
supporting obligations; provided that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (xi) as being included in the Notes
Priority Collateral shall be included in the Notes Priority Collateral; (xiii) to the extent relating to any of the items referred to in the preceding clauses (i) through (xii), all commercial tort claims; provided that to the extent any
of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (xii) as being included in the Notes Priority Collateral shall be

  
 36 

 
included in the Notes Priority Collateral; (xiv) all books and records, including all books, databases, customer lists and records related thereto and any general intangibles at any time
evidencing or relating to any of the foregoing; and (xv) all cash proceeds, and, solely to the extent not constituting ABL Priority Collateral, non-cash proceeds, products, accessions, rents and profits
of or in respect of any of the foregoing (including all insurance proceeds) and all collateral security, guarantees and other collateral support given by any Person with respect to any of the foregoing. Any Collateral of any type received in
exchange for ABL Priority Collateral or Notes Priority Collateral pursuant to certain enforcement actions or during an Insolvency Proceeding will be treated as priority Collateral of the same type as that for which it was received in exchange (ABL
Priority Collateral or Notes Priority Collateral, as the case may be). For the avoidance of doubt, no Excluded Property shall constitute Notes Priority Collateral. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements (including, without
limitation, reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the documentation governing any Indebtedness (including interest, fees, expenses, indemnity claims
and other monetary obligations accrued during the pendency of an insolvency proceeding, whether or not constituting an allowed claim in such proceeding); provided that Obligations with respect to the Notes shall not include any of the
foregoing amounts in favor of third parties other than the Trustee and the Priority Lien Collateral Trustee and the holders of the Notes. 

“Offering Circular” means the offering circular, dated October 26, 2017, relating to the issuance of the Initial Notes.

 “Officer” means the chairman of the board, chief executive officer, chief financial officer, president, any executive
vice president, senior vice president or vice president, the treasurer or the secretary of the Issuer. 
 “Officer’s
Certificate” means a certificate signed on behalf of the Issuer by an Officer of the Issuer who is the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Issuer, which
meets the requirements set forth in this Indenture. 
 “Opinion of Counsel” means a written opinion from legal counsel who
is acceptable to the recipient thereof. The counsel may be an employee of or counsel to the Issuer. 
 “Outstanding Notes Threshold
Date” means the date that both (i) the outstanding principal amount of Notes outstanding under this Indenture (including any Additional Notes) is less than 15.0% of the aggregate outstanding principal amount of all Priority Lien Debt
and (ii) the aggregate outstanding principal amount of another Series of Priority Lien Debt exceeds the outstanding principal amount of Notes outstanding under this Indenture. 

“Permitted Holders” means, at any time, each of (i) the Sponsors, (ii) the Management Group, (iii) any Person
that has no material assets other than the Capital Stock of the Issuer, any direct or indirect parent of the Issuer and other Permitted Holders and, directly or indirectly, holds or acquires 100% of the total voting power of the Voting Stock of the
Issuer, and of which no other Person or group (within the meaning of Section 13(d)(3) or 

  
 37 

 
Section 14(d)(2) of the Exchange Act, or any successor provision), other than any of the other Permitted Holders, holds more than 50% of the total voting power of the Voting Stock thereof,
and any New Parent and its subsidiaries, (iv) any Person who is acting solely as an underwriter in connection with a public or private offering of Equity Interests of the Issuer or any of its direct or indirect parent companies, acting in such
capacity, (v) any group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) the members of which include any of the Permitted Holders specified in clauses (i), (ii), (iii) and
(iv) above and that, directly or indirectly, hold or acquire beneficial ownership of the Voting Stock of the Issuer (a “Permitted Holder Group”), so long as (1) each member of the Permitted Holder Group has voting rights
proportional to the percentage of ownership interests held or acquired by such member (or more favorable voting rights, in the case of any Permitted Holder) and (2) no Person or other “group” (other than Permitted Holders specified in
clauses (i), (ii), (iii) and (iv) above) beneficially owns more than 50% on a fully diluted basis of the Voting Stock held by the Permitted Holder Group. Any Person or group whose acquisition of beneficial ownership constitutes a Change of
Control in respect of which a Change of Control Offer is made in accordance with the requirements of this Indenture will thereafter, together with its Affiliates, constitute an additional Permitted Holder. 

“Permitted Investments” means: 

(1)    any Investment in the Issuer or any Restricted Subsidiary; 

(2)    any Investment in Cash Equivalents or Investment Grade Securities; 

(3)    any Investment by the Issuer or any Restricted Subsidiary in a Person if as a result of such
Investment (a) such Person becomes a Restricted Subsidiary, or (b) such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially all
of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary; 
 (4)    any Investment
in securities or other assets not constituting Cash Equivalents and received in connection with an Asset Sale made pursuant to Section 4.06 or any other disposition of assets not constituting an Asset Sale; 

(5)    any Investment existing on the Issue Date, made pursuant to binding commitments existing on the
Issue Date or in satisfaction of obligations under joint venture agreements existing on the Issue Date or any Investment consisting of any extension, modification or renewal of any such Investment, binding commitment or obligation, in each case,
existing on the Issue Date; provided that the amount of any such Investment may be increased (x) as required by the terms of such Investment, binding commitment or obligation, in each case, as in existence on the Issue Date or
(y) as otherwise permitted under this Indenture; 

  
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 (6)    loans and advances to, or guarantees of Indebtedness
of, officers, directors, employees or consultants of the Issuer or any of its Subsidiaries (i) in the ordinary course of business in an aggregate outstanding amount (valued in good faith by the Issuer at the time of the making thereof, and
without giving effect to any subsequent changes in value) not to exceed $5.0 million, (ii) in respect of payroll payments and expenses in the ordinary course of business and (iii) in connection with such person’s purchase of
Equity Interests of the Issuer or any direct or indirect parent of the Issuer solely to the extent that the amount of such loans and advances shall be contributed to the Issuer in cash as common equity; 

(7)    any Investment acquired by the Issuer or any Restricted Subsidiary (a) in exchange for any
other Investment or accounts receivable held by the Issuer or such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable, or
(b) as a result of a foreclosure by the Issuer or any Restricted Subsidiary with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; 

(8)    Swap Obligations permitted under Section 4.03(b)(x); 

(9)    any Investment by the Issuer or any Restricted Subsidiary in a Similar Business in an aggregate
outstanding amount (valued in good faith by the Issuer at the time of the making thereof, and without giving effect to subsequent changes in value), taken together with all other Investments made pursuant to this clause (9) that are at that
time outstanding, not to exceed the sum of (x) the greater of (i) $25.0 million and (ii) 2.5% of Consolidated Total Assets plus (y) an amount equal to any returns (including dividends, interest, distributions, returns of principal,
profits on sale, repayments, income and similar amounts) actually received in respect of any such Investment (with the value of each Investment being measured at the time made and without giving effect to subsequent changes in value);
provided, however, that if any Investment pursuant to this clause (9) is made in any Person that is not the Issuer or a Restricted Subsidiary at the date of the making of such Investment and such Person becomes the Issuer or a
Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (9) for so long as such Person continues to be the
Issuer or a Restricted Subsidiary; 
 (10)    additional Investments by the Issuer or any Restricted
Subsidiary in an aggregate outstanding amount (valued in good faith by the Issuer at the time of the making thereof, and without giving effect to subsequent changes in value), taken together with all other Investments made pursuant to this clause
(10) that are at that time outstanding, not to exceed the sum of (x) the greater of (i) $25.0 million and (ii) 2.5% of Consolidated Total Assets plus (y) an amount equal to any returns (including dividends, interest,
distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually 

  
 39 

 
received in respect of any such Investment (with the value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided,
however, that if any Investment pursuant to this clause (10) is made in any Person that is not the Issuer or a Restricted Subsidiary at the date of the making of such Investment and such Person becomes the Issuer or a Restricted
Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) above and shall cease to have been made pursuant to this clause (10) for so long as such Person continues to be the Issuer or a
Restricted Subsidiary; 
 (11)    (a) loans and advances to officers, directors or employees for
business-related travel expenses, moving expenses and other similar expenses, in each case Incurred in the ordinary course of business or consistent with past practice or industry norm or to fund such person’s purchase of Equity Interests of
the Issuer or any direct or indirect parent of the Issuer and (b) extensions of trade credit to customers, lessors and suppliers in the ordinary course of business or consistent with past practice or industry norm by the Issuer or any of its
Restricted Subsidiaries; 
 (12)    Investments the payment for which consists of Equity Interests of the
Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer, as applicable; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under clause (3) of
the definition of Cumulative Credit; 
 (13)    any transaction to the extent it constitutes an
Investment that is permitted by and made in accordance with the provisions of Section 4.07(b) (except transactions described in clauses (ii), (iv), (vi), (ix)(B) and (xvi) of Section 4.07(b)); 

(14)    [Reserved]; 

(15)    guarantees issued in accordance with Section 4.03 and Section 4.11 including, without
limitation, any guarantee or other obligation issued or incurred under any Credit Agreement in connection with any letter of credit issued for the account of the Issuer or any of its Subsidiaries (including with respect to the issuance of, or
payments in respect of drawings under, such letters of credit); 
 (16)    Investments consisting of or
to finance purchases and acquisitions of inventory, supplies, materials, services or equipment or purchases of contract rights or licenses or leases of intellectual property; 

(17)    Investments consisting of Securitization Assets or arising as a result of, or in connection with,
Permitted Securitization Financings, including Investments of funds held in accounts permitted or required by the arrangements governing a Permitted Securitization Financing or any related Indebtedness; 

  
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 (18)    any Investment in an entity which is not a Restricted
Subsidiary to which a Restricted Subsidiary sells Securitization Assets pursuant to a Permitted Securitization Financing; 

(19)    [Reserved]; 

(20)    Investments of a Restricted Subsidiary acquired after the Issue Date or of an entity merged into,
amalgamated with, or consolidated with the Issuer or a Restricted Subsidiary in a transaction that is not prohibited by Section 5.01 after the Issue Date to the extent that such Investments were not made in contemplation of such acquisition,
merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; 

(21)    Investments in the ordinary course of business or consistent with past practice or industry norm
consisting UCC Article 3 endorsements for collection or deposit and UCC Article 4 customary trade arrangements with customers; 

(22)    advances in the form of a prepayment of expenses, so long as such expenses are being paid in
accordance with customary trade terms of the Issuer or its Restricted Subsidiaries; 
 (23)    any
Investment in any Subsidiary of the Issuer or any joint venture in connection with intercompany cash management arrangements or related activities arising in the ordinary course of business or consistent with past practice or industry norm; 

(24)    guarantees of Indebtedness under customer financing lines of credit in the ordinary course of
business or consistent with past practice or industry norm; 
 (25)    Investments made in connection
with the Transactions; 
 (26)    any Investment so long as, immediately after giving effect to such
Investment, the Total Indebtedness Leverage Ratio for the most recently ended four fiscal quarters for which financial statements have been delivered to the Trustee immediately preceding such Investment is not greater than 2.00 to 1.00 on a pro
forma basis; 
 (27)    (i) Investments in the nature of Production Payments, royalties, dedication
of reserves under supply agreements or similar or related rights or interests granted, taken subject to, or otherwise imposed on properties, (ii) cross charges, Liens or security arrangements entered into in respect of a joint venture for the
benefit of a participant, manager or operator of such joint venture, 

  
 41 

 
in each case, consistent with normal practices in the mining industry or (iii) payments or other arrangements whereby the Issuer or any Restricted Subsidiary provides a loan, advance payment
or guarantee in return for future coal deliveries consistent with normal practices in the mining industry; 

(28)    Investments consisting of indemnification obligations in respect of performance bonds, bid bonds,
appeal bonds, surety bonds, reclamation bonds and completion guarantees and similar obligations under any Mining Law or Environmental Law or with respect to workers’ compensation benefits, in each case entered into in the ordinary course of
business, and, to the extent constituting an Investment, pledges or deposits made in the ordinary course of business in support of obligations under existing coal sales contracts (and extensions or renewals thereof on similar terms; and 

(29)    Investments in surety bonds, reclamation bonds, performance bonds, bid bonds, appeal bonds and
related letters of credit or similar obligations, in each case, to the extent such surety bonds, reclamation bonds, performance bonds, bid bonds, appeal bonds, related letters of credit and similar obligations are permitted under this Indenture.

 “Permitted Liens” means, with respect to any Person: 

(1)    pledges or deposits and other Liens granted by such Person under workmen’s compensation laws,
unemployment insurance, employers’ health tax and other social security laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person
is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S. government bonds to secure reclamation bonds, insurance bonds, surety or appeal bonds, performance and return of money bonds, or deposits as
security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business; 

(2)    Liens imposed by law, such as landlord’s, carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s, construction or other like Liens securing obligations that are not overdue by more than 30 days or that are being contested in good faith by appropriate proceedings or other Liens arising out of judgments or
awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; 

(3)    Liens for taxes, assessments or other governmental charges not yet overdue by more than 30 days or
that are being contested in good faith by appropriate proceedings; 
 (4)    Liens in favor of issuers of
performance and surety, bid, indemnity, warranty, release, appeal or similar bonds or with respect to other regulatory requirements or letters of credit, bankers’ acceptances or similar 

  
 42 

 
obligations issued and completion guarantees provided for, in each case, pursuant to the request of and for the account of such Person in the ordinary course of its business or consistent with
past practice or industry norm; 
 (5)    minor survey exceptions, minor encumbrances, trackage rights,
special assessments, easements or reservations of, or rights of others for, licenses, rights-of-way, servitudes, sewers, electric lines, telegraph and telephone lines
and other similar purposes, servicing agreements, development agreements, site plan agreements and other similar encumbrances incurred in the ordinary course of business or zoning or other restrictions (including minor defects and irregularities in
title and similar encumbrances) as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which were not Incurred in connection with Indebtedness and which do not in the
aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; 

(6)    Liens on assets of a Subsidiary that is not a Subsidiary Guarantor securing Indebtedness of a
Subsidiary that is not a Subsidiary Guarantor permitted to be Incurred pursuant to Section 4.03; 

(7)    (A) ABL Liens held by any ABL Collateral Agent securing ABL Debt not exceeding the ABL Lien Cap
Incurred pursuant to Section 4.03(b)(i)(x) and all related ABL Lien Obligations; (B) (1) Priority Liens held by the Priority Lien Collateral Trustee securing Priority Lien Debt not exceeding the Priority Lien Cap Incurred pursuant to
Section 4.03(b)(i)(y) and all related Priority Lien Obligations and (2) Priority Liens held by the Priority Lien Collateral Trustee securing the Notes issued on the Issue Date and the related Subsidiary Guarantees Incurred pursuant to
Section 4.03(b)(ii); (C) Junior Liens held by the Junior Lien Collateral Trustee securing Junior Lien Debt Incurred pursuant to Section 4.03(b)(xxvii) and all related Junior Lien Obligations; and (D) Liens securing Obligations in
respect of Indebtedness permitted to be Incurred pursuant to clause (iv), (xii) (or (xiv) to the extent it guarantees any such Indebtedness), (xvi), or (xx) (provided that (1) in the case of clause (xvi), such Liens securing
Indebtedness Incurred pursuant to clause (xvi) shall only be permitted under this clause (D) (1) if, on a pro forma basis after giving effect to the Incurrence of such Indebtedness and Liens, (x) with respect to any such Indebtedness
that constitutes Priority Lien Debt, the Priority Secured Leverage Ratio of the Issuer does not exceed 1.50 to 1.00, or (y) with respect to any such Indebtedness that constitutes Junior Lien Debt, the Secured Leverage Ratio of the Issuer does
not exceed 3.00 to 1.00, and (2) in the case of clause (iv), such Liens securing Obligations Incurred pursuant to clause (iv) shall only be permitted under this clause (D) if they extend only to the property, equipment or other assets
acquired, leased, constructed, installed, repaired, replaced or improved and (3) in the case of clause (xx), such Lien does not extend to the property or assets of any Subsidiary of the Issuer other than a Restricted Subsidiary that is not a
Subsidiary Guarantor; 

  
 43 

 (8)    Liens existing on the Issue Date (other than Liens in
favor of the lenders under the Credit Agreement in effect on the Issue Date); 
 (9)    Liens on assets,
property or shares of stock of a Person at the time such Person becomes a Subsidiary; provided, however, that such Liens (other than Liens to secure Indebtedness Incurred pursuant to Section 4.03(b)(xvi)) are not created or
Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by the Issuer or any Restricted Subsidiary
(other than pursuant to after-acquired property clauses in effect with respect to such Lien at the time of acquisition on property of the type that would have been subject to such Lien notwithstanding the occurrence of such acquisition); 

(10)    Liens on assets or property at the time the Issuer or a Restricted Subsidiary acquired the assets
or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any Restricted Subsidiary; provided, however, that such Liens (other than Liens to secure Indebtedness Incurred
pursuant to Section 4.03(b)(xvi)) are not created or Incurred in connection with, or in contemplation of, such acquisition; provided, further, however, that such Liens may not extend to any other property owned by the
Issuer or any Restricted Subsidiary (other than pursuant to after-acquired property clauses in effect with respect to such Lien at the time of acquisition on property of the type that would have been subject to such Lien notwithstanding the
occurrence of such acquisition); 
 (11)    Liens securing Indebtedness or other obligations of the
Issuer or a Restricted Subsidiary owing to the Issuer or another Restricted Subsidiary permitted to be Incurred in accordance with Section 4.03; 

(12)    Liens securing Swap Obligations not incurred in violation of this Indenture; provided that
with respect to Swap Obligations relating to Indebtedness, such Lien extends only to the property securing such Indebtedness (other than Swap Obligations constituting Secured Indebtedness); 

(13)    Liens on inventory or other goods and proceeds of any Person securing such Person’s
obligations in respect of documentary letters of credit, bank guarantees or bankers’ acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; 

(14)    leases and subleases of real property which do not materially interfere with the ordinary conduct
of the business of the Issuer or any of the Restricted Subsidiaries; 
 (15)    Liens arising from UCC
financing statement filings regarding operating leases or other obligations not constituting Indebtedness; 

  
 44 

 (16)    Liens in favor of the Issuer or any Subsidiary
Guarantor; 
 (17)    Liens in respect of Permitted Securitization Financings that extend only to the
assets subject thereto and Liens on the Equity Interests of Special Purpose Securitization Subsidiaries; 

(18)    pledges and deposits and other Liens made in the ordinary course of business to secure reclamation
liabilities, liability to insurance carriers under insurance or self-insurance arrangements; 

(19)    Liens on the Equity Interests of Unrestricted Subsidiaries; 

(20)    leases or subleases, and licenses or sublicenses (including with respect to intellectual property)
granted to others in the ordinary course of business; 
 (21)    Liens to secure any refinancing,
refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in clauses (6), (7), (8), (9), (10), (11), (12),
(16) and (26) of this definition; provided, however, that (x) such new Lien shall be limited to all or part of the same property (including any after acquired property to the extent it would have been subject to the original
Lien) that secured the original Lien (plus improvements on and accessions to such property, proceeds and products thereof, customary security deposits and any other assets pursuant to the after-acquired property clauses to the extent such assets
secured (or would have secured) the Indebtedness being refinanced, refunded, extended, renewed or replaced), and (y) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A) the
outstanding principal amount (or accreted value, if applicable) or, if greater, committed amount of the applicable Indebtedness described under clauses (6), (7), (8), (9), (10), (11), (12), (16) and (26) at the time the original Lien became a
Permitted Lien under this Indenture, (B) unpaid accrued interest and premiums (including tender premiums), and (C) an amount necessary to pay any underwriting discounts, defeasance costs, commissions, fees and expenses related to such
refinancing, refunding, extension, renewal or replacement; provided further, however, that in the case of any Liens to secure any refinancing, refunding, extension or renewal of Indebtedness secured by a Lien referred to in
clause (7)(A), (7)(B) or (7)(C), the principal amount of any Indebtedness Incurred for such refinancing, refunding, extension or renewal shall be deemed secured by a Lien under clause (7)(A), (7)(B) or (7)(C) and not this clause (21)
for purposes of determining the principal amount of Indebtedness outstanding under clause (7)(A), (7)(B) or (7)(C); 

(22)    Liens on equipment of the Issuer or any Restricted Subsidiary granted in the ordinary course of
business to the Issuer’s or such Restricted Subsidiary’s client at which such equipment is located; 

  
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 (23)    judgment and attachment Liens not giving rise to an
Event of Default and notices of lis pendens and associated rights related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; 

(24)    Liens arising out of conditional sale, title retention, consignment or similar arrangements for the
sale or purchase of goods entered into in the ordinary course of business or consistent with past practice or industry norm; 

(25)    Liens incurred to secure cash management services or to implement cash pooling arrangements in the
ordinary course of business; 
 (26)    Liens securing obligations the outstanding principal amount of
which does not, taken together with the principal amount of all other obligations secured by Liens incurred under this clause (26) and any Liens to secure any refinancing, refunding, extension or renewal in respect thereof incurred pursuant to
clause (21) above, that are at that time outstanding, exceed the greater of (i) $30.0 million and (ii) 3.0% of Consolidated Total Assets; 

(27)    any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock
of any joint venture or similar arrangement securing obligations of such joint venture or pursuant to any joint venture or similar agreement; 

(28)    any amounts held by a trustee in the funds and accounts under an indenture securing any revenue
bonds issued for the benefit of the Issuer or any Restricted Subsidiary, under any indenture issued in escrow pursuant to customary escrow arrangements pending the release thereof, or under any indenture pursuant to customary discharge, redemption
or defeasance provisions; 
 (29)    Liens (i) arising by virtue of any statutory or common law
provisions relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution, (ii) attaching to
commodity trading accounts or other commodity brokerage accounts incurred in the ordinary course of business or (iii) encumbering reasonable customary initial deposits and margin deposits and similar Liens attaching to brokerage accounts
incurred in the ordinary course of business and not for speculative purposes; 
 (30)    Liens
(i) in favor of credit card companies pursuant to agreements therewith and (ii) in favor of customers; 

(31)    Liens disclosed by the title insurance policies delivered on or subsequent to the Issue Date and
pursuant to the Credit Agreement, this Indenture, the Notes or the Security Documents and any replacement, extension or renewal of any such Lien; provided that such replacement, extension or renewal Lien shall not cover any property other
than the property that was subject 

  
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to such Lien prior to such replacement, extension or renewal and any accessions and additions thereto or proceeds and products thereof and related property of the type that would have been
subject to such Lien notwithstanding such replacement, extension or renewal; provided, further, that the Indebtedness and other obligations secured by such replacement, extension or renewal Lien are permitted under this Indenture; 

(32)    Liens that are contractual rights of set-off or rights of
pledge (a) relating to the establishment of depository relations with banks not given in connection with the issuance of Indebtedness, (b) relating to pooled deposit or sweep accounts of the Issuer or any of its Restricted Subsidiaries to
permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Issuer and its Restricted Subsidiaries or (c) relating to purchase orders and other agreements entered into with customers, suppliers or
service providers of the Issuer or any Restricted Subsidiary in the ordinary course of business; 

(33)    in the case of real property that constitutes a leasehold interest, any Lien to which the fee
simple interest (or any superior leasehold interest) is subject; 
 (34)    Liens in respect of Third
Party Funds; 
 (35)    agreements to subordinate any interest of the Issuer or any Restricted Subsidiary
in any accounts receivable or other prices arising from inventory consigned by the Issuer or any Restricted Subsidiary pursuant to an agreement entered into in the ordinary course of business; 

(36)    Liens on securities that are the subject of repurchase agreements constituting Cash Equivalents
under clause (4) of the definition thereof; 
 (37)    Liens securing insurance premium financing
arrangements; provided that such Liens are limited to the applicable unearned insurance premiums; 

(38)    Liens (i) on inventory held by and granted to a local distribution company in the ordinary
course of business and (ii) in accounts purchased and collected by and granted to a local distribution company that has agreed to make payments to the Issuer or any of its Restricted Subsidiaries for such amounts in the ordinary course of
business; 
 (39)    Liens on equipment of the Issuer or any of its Restricted Subsidiaries granted in
the ordinary course of business or consistent with past practice or industry norm; 
 (40)    Permitted
Real Estate Encumbrances; 

  
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 (41)    Liens to secure (i) the performance of bids,
trade contracts and leases (other than Indebtedness), reclamation bonds, insurance bonds, statutory obligations, surety and appeal bonds, performance bonds, bank guarantees and letters of credit and other obligations of a like nature incurred in the
ordinary course of business, (ii) Liens on assets to secure obligation sunder surety bonds obtained as required in connection with the entering into of federal coal leases or (iii) Liens created under or by any turnover trust; 

(42)    surface use agreements, easements, zoning restrictions, rights of way, encroachments, pipelines,
leases (other than Capitalized Lease Obligations), licenses, special assessments, trackage rights, transmission and transportation lines related to mining leases or mineral right or other real property including any
re-conveyance obligations to a surface owner following mining, royalty payments and other obligations under surface owner purchase or leasehold arrangements necessary to obtain surface disturbance rights to
access the subsurface coal deposits and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligation and do not materially detract from the value of the affected
property or interfere with the ordinary conduct of business of the Issuer or any Subsidiary; and 

(43)    Production Payments, royalties, dedication of reserves under supply agreements or similar or
related rights or interests granted, taken subject to, or otherwise imposed on properties or (y) cross charges, Liens or security arrangements entered into in respect of a joint venture for the benefit of a participant, manager or operator of
such joint venture, in each case, consistent with normal practices in the mining industry. 
 “Permitted Real Estate
Encumbrances” means the following encumbrances which do not, in any case, individually or in the aggregate, materially detract from the value of any Mine subject thereto or interfere with the ordinary conduct of the business or operations
of the Issuer and its Restricted Subsidiaries as presently conducted on, at or with respect to such Mine and as to be conducted following the Issue Date: (a) encumbrances customarily found upon real property used for mining purposes in the
applicable jurisdiction in which the applicable real property is located to the extent such encumbrances would be permitted or granted by a prudent operator of mining property similar in use and configuration to such real property (e.g., surface
rights agreements, wheelage agreements and reconveyance agreements); (b) rights and easements of (i) owners of undivided interests in any of the real property where the Issuer and/or its Restricted Subsidiaries own less than 100% of the fee
interest, (ii) owners of interests in the surface of any real property where the Issuer and/or its Restricted Subsidiaries do not own or lease such surface interest, (iii) lessees, if any, of coal or other minerals (including oil, gas and
coal bed methane) where the Issuer and/or its Restricted Subsidiaries do not own such coal or other minerals, and (iv) lessees of other coal seams and other minerals (including oil, gas and coal bed methane) not owned or leased by the Issuer
and/or its Restricted Subsidiaries; (c) with respect to any real property in which the Issuer or any Restricted Subsidiary holds a leasehold interest, terms, agreements, provisions, conditions, and limitations (other than royalty and other
payment obligations which are otherwise permitted hereunder) contained in the leases granting 

  
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such leasehold interest and the rights of lessors thereunder (and their heirs, executors, administrators, successors, and assigns), subject to any amendments or modifications set forth in any
landlord consent delivered in connection with a Mortgage; (d) farm, grazing, hunting, recreational and residential leases with respect to which the Issuer or any Restricted Subsidiary is the lessor encumbering portions of the real properties to
the extent such leases would be granted or permitted by, and contain terms and provisions that would be acceptable to, a prudent operator of mining properties similar in use and configuration to such real properties; (e) royalty and other
payment obligations to sellers or transferors of fee coal or lease properties to the extent such obligations constitute a lien not yet delinquent; (f) rights of others to subjacent or lateral support and absence of subsidence rights or to the
maintenance of barrier pillars or restrictions on mining within certain areas as provided by any mining lease, unless in each case waived by such other person; and (g) rights of repurchase or reversion when mining and reclamation are completed.

 “Permitted Securitization Documents” means all documents and agreements evidencing, relating to or otherwise governing a
Permitted Securitization Financing. 
 “Permitted Securitization Financing” means one or more transactions pursuant to
which (i) Securitization Assets or interests therein are sold or transferred to or financed by one or more Special Purpose Securitization Subsidiaries, and (ii) such Special Purpose Securitization Subsidiaries finance (or refinance) their
acquisition of such Securitization Assets or interests therein, or the financing thereof, by selling or borrowing against Securitization Assets and any Swap Obligations or hedging agreements entered into in connection with such Securitization
Assets; provided, that recourse to the Issuer or any Restricted Subsidiary (other than the Special Purpose Securitization Subsidiaries) in connection with such transactions shall be limited to the extent customary (as determined by the Issuer
in good faith) for similar transactions in the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale”/“absolute transfer” opinion with respect to any transfer by
the Issuer or any Restricted Subsidiary (other than a Special Purpose Securitization Subsidiary)). 
 “Person” or
“person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or
any other entity. 
 “Preferred Stock” means any Equity Interest with preferential right of payment of dividends or upon
liquidation, dissolution, or winding up. 
 “Priority Lien” means a Lien granted, or purported to be granted, by a Security
Document to the Priority Lien Collateral Trustee, at any time, upon any property of the Issuer or any Subsidiary Guarantor to secure Priority Lien Obligations. 

“Priority Lien Collateral Trustee” means Wilmington Trust, National Association, in its capacity as collateral trustee for
the Priority Lien Secured Parties under the Security Documents, together with its successors in such capacity. 
 “Priority Lien
Cap” means as of any date of determination, the sum of (i) $100.0 million, less any amounts incurred pursuant to clause (i) of the definition of Junior Lien Cap plus (ii) at any time on or after June 30, 2018 the amount
of Priority Lien Debt that may be 

  
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incurred by the Issuer such that, after giving pro forma effect to such incurrence and the application of the net proceeds therefrom, the Priority Secured Leverage Ratio would not exceed
1.50 to 1.00. 
 “Priority Lien Debt” means: 

(1)    the Notes issued on the Issue Date and the related Subsidiary Guarantees; and 

(2)    any other Funded Debt (including Additional Notes and borrowings under any Credit Facilities, but
excluding any ABL Debt) that is secured by a Priority Lien and that is permitted to be incurred and permitted to be so secured under the ABL Lien Document; 

provided, that, in the case of Funded Debt referred to in clause (2): 

(a)    on or before the date on which such Funded Debt is incurred by the Issuer, such Funded Debt is
designated by the Issuer as “Priority Lien Debt” for the purposes of the Secured Debt Documents and the Collateral Trust Agreement pursuant to the procedures set forth in the Collateral Trust Agreement; provided, that no Funded Debt may be
designated as both Priority Lien Debt and Junior Lien Debt and no ABL Debt may be designated as Priority Lien Debt; 

(b)    unless such Funded Debt is issued under an existing Secured Debt Document for any Series of Priority
Lien Debt whose Secured Debt Representative is already party to the Collateral Trust Agreement, the Priority Lien Representative for such Funded Debt executes and delivers a Collateral Trust Joinder in accordance with the terms of the Collateral
Trust Agreement; and 
 (c)    all other relevant requirements set forth in the Collateral Trust
Agreement are complied with. 
 For the avoidance of doubt, Swap Obligations do not constitute Priority Lien Debt but may constitute
Priority Lien Obligations. Swap Obligations that are secured pursuant to the Priority Lien Documents with respect to a Series of Priority Lien Debt shall be “related to” such Series of Priority Lien Debt for purposes of the Collateral
Trust Agreement. 
 “Priority Lien Document” means, collectively, this Indenture, the Notes and the Security Documents (in
the case of the Collateral Trust Agreement, to the extent effective at the relevant time), any other indenture, credit agreement or other agreement pursuant to which any Priority Lien Debt is incurred, and each of the other agreements, documents and
instruments executed pursuant thereto or in connection therewith. 
 “Priority Lien Obligations” means the Priority Lien
Debt and all other Obligations in connection therewith, including without limitation any post-petition interest whether or not allowable, together with all Swap Obligations and guarantees of any of the foregoing. 

  
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 “Priority Lien Representative” means: 

(1)    in the case of the Notes, the Trustee; and 

(2)    in the case of any other Series of Priority Lien Debt, the trustee, agent or representative of the
holders of such Series of Priority Lien Debt who maintains the transfer register for such Series of Priority Lien Debt and is appointed as a representative of the Priority Lien Debt (for purposes related to the administration of the Security
Documents) pursuant to the agreement governing such Series of Priority Lien Debt, and who has executed a Collateral Trust Joinder, together with any successor in such capacity. 

“Priority Lien Secured Parties” means, as of any date of determination, the holders of Priority Lien Obligations at that
time, including (i) each Priority Lien Representative and the Priority Lien Collateral Trustee, (ii) the noteholders and any other holders of Priority Lien Debt and (iii) counterparties to Swap Contracts in respect of Swap
Obligations. 
 “Priority Lien Security Documents” means all security agreements, pledge agreements, collateral
assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Issuer or any Subsidiary Guarantor creating (or purporting to create) a Lien upon
Collateral in favor of the Priority Lien Collateral Trustee, for the benefit of any of the Priority Lien Secured Parties, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with
its terms and the Collateral Trust Agreement (to the extent effective at the relevant time). 
 “Priority Secured Leverage
Ratio” means, with respect to any Person, at any date, the ratio of (i) Priority Lien Debt (including, for avoidance of doubt, the Notes) and ABL Debt of such Person and its Restricted Subsidiaries as of such date of calculation
(determined on a consolidated basis in accordance with GAAP) less the amount of cash and Cash Equivalents in excess of any Restricted Cash that would be stated on the balance sheet of such Person and its Restricted Subsidiaries and held by such
Person and its Restricted Subsidiaries as of such date of determination to (ii) EBITDA of such Person for the four full fiscal quarters for which financial statements have been delivered to the Trustee immediately preceding such date on which
such additional Priority Lien Debt is Incurred. In the event that the Issuer or any Restricted Subsidiary Incurs, repays, repurchases or redeems any Priority Lien Debt subsequent to the commencement of the period for which the Priority Secured
Leverage Ratio is being calculated but prior to the event for which the calculation of the Priority Secured Leverage Ratio is made (the “Priority Secured Leverage Calculation Date”), then the Priority Secured Leverage Ratio shall be
calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Priority Lien Debt, or such issuance, repurchase or redemption of Disqualified Stock or Preferred Stock as if the same had occurred at the beginning
of the applicable four-quarter period. 
 For purposes of making the computation referred to above, Investments, acquisitions, dispositions,
mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP) and any operational changes, business realignment projects or initiatives restructurings or reorganizations that the Issuer or any Restricted

  
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Subsidiary has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Priority Secured
Leverage Calculation Date (each, for purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations,
consolidations, discontinued operations and other operational changes, business realignment projects or initiatives, restructurings or reorganizations (and the change of any associated fixed charge obligations and the change in EBITDA resulting
therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since
the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, amalgamation, discontinued operation, operational change, business realignment project or initiative, restructuring or reorganization that
would have required adjustment pursuant to this definition, then the Priority Secured Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation,
merger, amalgamation, consolidation, operational change, business realignment project or initiative, restructuring or reorganization had occurred at the beginning of the applicable four-quarter period. If since the beginning of such period any
Restricted Subsidiary is designated an Unrestricted Subsidiary or any Unrestricted Subsidiary is designated a Restricted Subsidiary, then the Priority Secured Leverage Ratio shall be calculated giving pro forma effect thereto for such period
as if such designation had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition, whenever
pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may include
adjustments appropriate, in the reasonable good faith determination of the Issuer as set forth in an Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements, synergies or cost savings reasonably
expected to result from the applicable event, which adjustments (x) shall not exceed 25% of EBITDA for the applicable four fiscal quarter period (calculated prior to giving effect to such capped adjustments (but, for the avoidance of doubt,
after giving effect to other uncapped pro forma adjustments)) and (y) shall only be included to the extent that the actions resulting in such operating expense reductions and other operating improvements, synergies or costs savings are
taken or commenced or expected to be taken or commenced (in the good faith determination of the Issuer) within 18 months after the date any such calculation is performed and (2) all adjustments set forth in the calculation of “Pro Forma
Adjusted EBITDA” as set forth under “Summary —Non-GAAP Financial Measures—Adjusted EBITDA” in the Offering Circular to the extent such adjustments, without duplication, continue to be
applicable to such four-quarter period. 
 If any Indebtedness bears a floating rate of interest and is being given pro forma effect,
the interest on such Indebtedness shall be calculated as if the rate in effect on the Priority Secured Leverage Calculation Date had been the applicable rate for the entire period (taking into account any Swap Obligations applicable to such
Indebtedness if such Swap Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the
Issuer to be the rate of interest implicit in such Capitalized Lease 

  
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Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis
shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency
interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. 

For purposes of this definition, any amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the average
exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Production Payments” means with respect to any Person, all production payment obligations and other similar obligations with
respect to coal and other natural resources of such Person that are recorded as a liability or deferred revenue on the financial statements of such Person in accordance with GAAP. 

“Public Company Compliance” means compliance with the requirements of the Sarbanes-Oxley Act of 2002 and the rules and
regulations promulgated in connection therewith, the provisions of the Securities Act and the Exchange Act, and the rules of national securities exchange listed companies (in each case, as applicable to companies with equity or debt securities held
by the public), including procuring directors’ and officers’ insurance, legal and other professional fees, and listing fees. 

“Rating Agency” means (1) each of Moody’s and S&P (and their respective successors and assigns) and (2) if
Moody’s or S&P ceases to rate the Notes for reasons outside of the Issuer’s control, a “nationally recognized statistical rating organization” within the meaning of
Rule 15cs-1(c)(2)(vi)(F) under the Exchange Act selected by the Issuer or any direct or indirect parent of the Issuer as a replacement agency for Moody’s or S&P, as the case may be. 

“Real Property” shall mean, collectively, all right, title and interest (including any leasehold estate) in and to any and
all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all improvements, fixtures, easements, hereditaments, permits and appurtenances relating
thereto. 
 “Real Property Lease” means any lease, letting, sublease, or other similar agreement to which any Person is a
party and is granted a possessory interest in or a right to use or occupy all or any portion of Real Property (including, without limitation, the right to extract minerals from any portion of Real Property) and every amendment or modification
thereof. 
 “Receivables Assets” means accounts receivable (including any bills of exchange) and related assets and
property from time to time originated, acquired or otherwise owned by the Issuer or any Subsidiary. 
 “Record Date” has
the meaning specified in Exhibit A hereto. 

  
 53 

 “Related Mining Assets” means (i) coal washing and processing facilities,
(ii) coal loading and shipping facilities, including without limitation, if owned, barges and railcars, (iii) computer and control systems utilized for operation or management of any of the foregoing and (iv) contracts with the Port
of Mobile, Alabama providing the right to use the McDuffie Coal Terminal for export of coal. 
 “Required Junior Lien
Debtholders” means, at any time, the holders of a majority in aggregate principal amount of all Junior Lien Debt then outstanding, calculated in accordance with the Collateral Trust Agreement. For purposes of this definition, Junior Lien
Debt registered in the name of, or beneficially owned by, the Issuer or any Affiliate of the Issuer (as certified in writing to the applicable Collateral Trustee by the applicable Secured Debt Representative) will be deemed not to be outstanding and
neither the Issuer nor any Affiliate of the Issuer will be entitled to vote any of the Junior Lien Debt. 
 “Restricted
Cash” means cash and Cash Equivalents held by Restricted Subsidiaries that would appear as “restricted” on a consolidated balance sheet of the Issuer or any of its Restricted Subsidiaries. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Subsidiary” means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted
Subsidiary of such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. 

“S&P” means S&P Global Ratings or any successor to the rating agency business thereof. 

“Sale/Leaseback Transaction” means an arrangement relating to property now owned or hereafter acquired by the Issuer or a
Restricted Subsidiary whereby the Issuer or such Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such Person, other than leases between the Issuer and a Restricted Subsidiary or
between Restricted Subsidiaries. 
 “SEC” means the Securities and Exchange Commission. 

“Secured Debt” means Priority Lien Debt and Junior Lien Debt. 

“Secured Debt Documents” means the Priority Lien Documents and the Junior Lien Documents. 

“Secured Debt Representative” means each Priority Lien Representative and each Junior Lien Representative. 

“Secured Indebtedness” means any Funded Debt secured by a Lien. 

“Secured Leverage Ratio” means, with respect to any Person, at any date, the ratio of (i) Secured Indebtedness of such
Person and its Restricted Subsidiaries as of such date of 

  
 54 

 
calculation (determined on a consolidated basis in accordance with GAAP) less the amount of cash and Cash Equivalents in excess of any Restricted Cash that would be stated on the balance sheet of
such Person and its Restricted Subsidiaries and held by such Person and its Restricted Subsidiaries as of such date of determination to (ii) EBITDA of such Person for the four full fiscal quarters for which financial statements have been
delivered to the Trustee immediately preceding such date on which such additional Indebtedness is Incurred. In the event that the Issuer or any Restricted Subsidiary Incurs, repays, repurchases or redeems any Indebtedness subsequent to the
commencement of the period for which the Secured Leverage Ratio is being calculated but prior to the event for which the calculation of the Secured Leverage Ratio is made (the “Secured Leverage Calculation Date”), then the Secured
Leverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or redemption of Disqualified Stock or Preferred Stock as if the same had
occurred at the beginning of the applicable four-quarter period. 
 For purposes of making the computation referred to above, Investments,
acquisitions, dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with GAAP) and any operational changes, business realignment projects or initiatives, restructurings or reorganizations that
the Issuer or any Restricted Subsidiary has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Secured Leverage Calculation Date (each, for
purposes of this definition, a “pro forma event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and other
operational changes, business realignment projects or initiatives, restructurings or reorganizations (and the change of any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the
four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since the beginning of such period shall have made
any Investment, acquisition, disposition, merger, consolidation, amalgamation, discontinued operation, operational change, business realignment project or initiative, restructuring or reorganization that would have required adjustment pursuant to
this definition, then the Secured Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation, merger, amalgamation, consolidation, operational
change, business realignment project or initiative, restructuring or reorganization had occurred at the beginning of the applicable four-quarter period. If since the beginning of such period any Restricted Subsidiary is designated an Unrestricted
Subsidiary or any Unrestricted Subsidiary is designated a Restricted Subsidiary, then the Secured Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such designation had occurred at the beginning of the
applicable four-quarter period. 
 For purposes of this definition, whenever pro forma effect is to be given to any pro forma
event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith
determination of the Issuer as set forth in an Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements, synergies or cost savings reasonably expected to result from the applicable event, which
adjustments (x) shall not exceed 25% of EBITDA for the applicable four fiscal quarter 

  
 55 

 
period (calculated prior to giving effect to such capped adjustments (but, for the avoidance of doubt, after giving effect to other uncapped pro forma adjustments)) and (y) shall only
be included to the extent that the actions resulting in such operating expense reductions and other operating improvements, synergies or costs savings are taken or commenced or expected to be taken or commenced (in the good faith determination of
the Issuer) within 18 months after the date any such calculation is performed and (2) all adjustments set forth in the calculation of “Pro Forma Adjusted EBITDA” as set forth under “Summary
—Non-GAAP Financial Measures—Adjusted EBITDA” in the Offering Circular to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period. 

If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the Secured Leverage Calculation Date had been the applicable rate for the entire period (taking into account any Swap Obligations applicable to such Indebtedness if such Swap Obligation has a remaining term in
excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such
Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average
daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate,
shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. 

For purposes of this definition, any amount in a currency other than U.S. dollars will be converted to U.S. dollars based on the average
exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable period. 

“Secured Obligations” means Priority Lien Obligations and Junior Lien Obligations. 

“Secured Parties” means the holders of Secured Obligations and the Secured Debt Representatives and the Priority Lien
Collateral Trustee. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the
SEC promulgated thereunder. 
 “Securitization Assets” means any of the following assets (or interests therein) from time
to time originated, acquired or otherwise owned by the Issuer or any Restricted Subsidiary or in which the Issuer or any Restricted Subsidiary has any rights or interests, in each case, without regard to where such assets or interests are located:
(1) Receivables Assets, (2) royalty and other similar payments made related to the use of trade names and other intellectual property, (3) revenues related to distribution of the products of the Issuer and the Restricted Subsidiaries,
(4) intellectual property rights relating to the generation of any of the foregoing types of assets, (5) any Equity Interests of any Special Purpose Securitization 

  
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Subsidiary or any Subsidiary of a Special Purpose Securitization Subsidiary and any rights under any limited liability company agreement, trust agreement, shareholders agreement, organization or
formation documents or other agreement entered into in furtherance of the organization of such entity, (6) any equipment, contractual rights with unaffiliated third parties, website domains and associated property and rights necessary for a
Special Purpose Securitization Subsidiary to operate in accordance with its stated purposes, and (7) any other assets and property (or proceeds of such assets or property) to the extent customarily included in securitization transactions of the
relevant type (as determined by the Issuer in good faith). 
 “Security Agreement” means the security agreement dated the
Issue Date, by and among the Issuer, the Subsidiary Guarantors, the Trustee and the Priority Lien Collateral Trustee. 
 “Security
Documents” means the Security Agreement, the Collateral Trust Agreement (to the extent effective at the relevant time), the ABL Intercreditor Agreement, each joinder to the Collateral Trust Agreement or the ABL Intercreditor Agreement, each
ABL Security Document, each Priority Lien Security Document and each Junior Lien Security Document, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and the terms
of the Collateral Trust Agreement (to the extent effective at the relevant time). Notwithstanding the foregoing, to the extent that references to “Security Documents” in this Indenture relate solely to (x) the Notes Obligations, such
references shall refer only to the Security Documents applicable to the Notes Obligations and (y) ABL Lien Obligations, Priority Lien Obligations or Junior Lien Obligations, such references shall refer only to the Security Documents applicable
to ABL Lien Obligations, Priority Lien Obligations or Junior Lien Obligations, as the case may be. 
 “Series of Junior Lien
Debt” means, severally, each issue or series of Junior Lien Debt for which a single transfer register is maintained. 

“Series of Priority Lien Debt” means, severally, each series of the Notes and each other issue or series of Priority Lien
Debt for which a single transfer register is maintained. 
 “Significant Subsidiary” means any Restricted Subsidiary that
would be a “Significant Subsidiary” of the Issuer within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC (or any successor provision).

 “Similar Business” means any business, the majority of whose revenues are derived from (i) the business or
activities of the Issuer and its Subsidiaries as of the Issue Date, (ii) any business that is a natural outgrowth or a reasonable extension, development or expansion of any such business or any business similar, reasonably related, incidental,
complementary or ancillary to any of the foregoing or (iii) any business that in the Issuer’s good faith business judgment constitutes a reasonable diversification of business conducted by the Issuer and its Subsidiaries. 

“Special Purpose Securitization Subsidiary” means (i) a direct or indirect Subsidiary of the Issuer established in
connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein and/or Equity Interests in other Special Purpose Securitization Subsidiaries, and which is organized in a manner (as determined

  
 57 

 
by the Issuer in good faith) intended to reduce the likelihood that it would be substantively consolidated with the Issuer or any of its Restricted Subsidiaries (other than Special Purpose
Securitization Subsidiaries) in the event the Issuer or any such Restricted Subsidiary becomes subject to a proceeding under the Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

 “Sponsors” means collectively, investment funds affiliated with, or accounts managed, advised or sub-advised by (i) Apollo Global Management, LLC and any of its Affiliates, (ii) KKR Credit Advisors (US) LLC and any of its Affiliates, (iii) Franklin Mutual Advisers, LLC and any of its Affiliates
and (iv) GSO Capital Partners LP and any of its Affiliates. 
 “Stated Maturity” means, with respect to any security,
the date specified in such security as the fixed date on which the final payment of principal of such security is due and payable. 

“Subordinated Indebtedness” means (a) with respect to the Issuer, any Indebtedness of the Issuer which is by its terms
subordinated in right of payment to the Notes, and (b) with respect to any Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor which is by its terms subordinated in right of payment to its Subsidiary Guarantee. 

“Subsidiary” means, with respect to any Person, (1) any corporation, association or other business entity (other than a
partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2) any partnership, joint venture or limited
liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is
a controlling general partner or otherwise controls such entity. 
 “Subsidiary Guarantee” means any guarantee of the
obligations of the Issuer under this Indenture and the Notes by any Subsidiary Guarantor in accordance with the provisions of this Indenture. 

“Subsidiary Guarantor” means any Subsidiary that Incurs a Subsidiary Guarantee; provided that upon the release or
discharge of such Person from its Subsidiary Guarantee in accordance with this Indenture, such Subsidiary ceases to be a Subsidiary Guarantor. 

“Suspension Period” means the period of time between a Covenant Suspension Event and the related Reversion Date. 

“Swap Contract” means (i) any interest rate swap agreement, interest rate cap agreement, interest rate future agreement,
interest rate collar agreement, interest rate hedging 

  
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agreement or other similar agreement or arrangement designed to protect against or mitigate interest rate risk, (ii) any foreign exchange contract, currency swap agreement, futures contract,
option contract, synthetic cap or other similar agreement or arrangement designed to protect against or mitigate foreign exchange risk and (iii) any commodity or raw material, including coal, futures contract, commodity hedge agreement, option
agreement, any actual or synthetic forward sale contracts or other similar device or instrument or any other agreement designed to protect against or mitigate raw material price risk (which shall for the avoidance of doubt include any forward
purchase and sale of coal for which full or partial payment is required or received), in each case, that is secured under the Priority Lien Documents. 

“Swap Obligations” means all debts, liabilities and obligations of the Issuer or any of its Subsidiaries under any Swap
Contract. 
 “Third Party Funds” means any accounts or funds, or any portion thereof, received by the Issuer or any of its
Subsidiaries as agent on behalf of third parties in accordance with a written agreement that imposes a duty upon the Issuer or one or more of its Subsidiaries to collect and remit those funds to such third parties. 

“TIA” means the Trust Indenture Act of 1939 (15 U.S.C. Sections 77aaa-77bbbb) as in effect on the date of this
Indenture. 
 “Total Indebtedness Leverage Ratio” means, with respect to any Person, at any date, the ratio of
(i) Funded Debt of such Person and its Restricted Subsidiaries as of such date of calculation (determined on a consolidated basis in accordance with GAAP) less the amount of cash and Cash Equivalents in excess of any Restricted Cash that would
be stated on the balance sheet of such Person and its Restricted Subsidiaries and held by such Person and its Restricted Subsidiaries as of such date of determination to (ii) EBITDA of such Person for the four full fiscal quarters for which
financial statements have been delivered to the Trustee immediately preceding such date on which such additional Indebtedness is Incurred. In the event that the Issuer or any Restricted Subsidiary Incurs, repays, repurchases or redeems any
Indebtedness subsequent to the commencement of the period for which the Total Indebtedness Leverage Ratio is being calculated but prior to the event for which the calculation of the Total Indebtedness Leverage Ratio is made (the “Total
Indebtedness Leverage Calculation Date”), then the Total Indebtedness Leverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase or
redemption of Disqualified Stock or Preferred Stock as if the same had occurred at the beginning of the applicable four-quarter period. 

For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and
discontinued operations (as determined in accordance with GAAP) and any operational changes, business realignment projects or initiatives, restructurings or reorganizations that the Issuer or any Restricted Subsidiary has determined to make and/or
made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Total Indebtedness Leverage Calculation Date (each, for purposes of this definition, a “pro forma
event”) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and other

  
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operational changes, business realignment projects or initiatives, restructurings or reorganizations (and the change of any associated fixed charge obligations and the change in EBITDA resulting
therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted Subsidiary since
the beginning of such period shall have made any Investment, acquisition, disposition, merger, consolidation, amalgamation, discontinued operation, operational change, business realignment project or initiative, restructuring or reorganization that
would have required adjustment pursuant to this definition, then the Total Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued
operation, merger, amalgamation, consolidation, operational change, business realignment project or initiative, restructuring or reorganization had occurred at the beginning of the applicable four-quarter period. If since the beginning of such
period any Restricted Subsidiary is designated an Unrestricted Subsidiary or any Unrestricted Subsidiary is designated a Restricted Subsidiary, then the Total Indebtedness Leverage Ratio shall be calculated giving pro forma effect thereto for
such period as if such designation had occurred at the beginning of the applicable four-quarter period. 
 For purposes of this definition,
whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may
include adjustments appropriate, in the reasonable good faith determination of the Issuer as set forth in an Officer’s Certificate, to reflect (1) operating expense reductions and other operating improvements, synergies or cost savings
reasonably expected to result from the applicable event, which adjustments (x) shall not exceed 25% of EBITDA for the applicable four fiscal quarter period (calculated prior to giving effect to such capped adjustments (but, for the avoidance of
doubt, after giving effect to other uncapped pro forma adjustments)) and (y) shall only be included to the extent that the actions resulting in such operating expense reductions and other operating improvements, synergies or costs
savings are taken or commenced or expected to be taken or commenced (in the good faith determination of the Issuer) within 18 months after the date any such calculation is performed and (2) all adjustments set forth in the calculation of
“Pro Forma Adjusted EBITDA” as set forth under “Summary —Non-GAAP Financial Measures—Adjusted EBITDA” in the Offering Circular to the extent such adjustments, without duplication,
continue to be applicable to such four-quarter period. 
 If any Indebtedness bears a floating rate of interest and is being given pro
forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Total Indebtedness Leverage Calculation Date had been the applicable rate for the entire period (taking into account any Swap Obligations
applicable to such Indebtedness if such Swap Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or
accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with GAAP. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit
facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a
prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. 

  
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 For purposes of this definition, any amount in a currency other than U.S. dollars will be
converted to U.S. dollars based on the average exchange rate for such currency for the most recent twelve month period immediately prior to the date of determination in a manner consistent with that used in calculating EBITDA for the applicable
period. 
 “Transactions” means the transactions described under “Summary—Recent Developments” in the
Offering Circular including payment of the Concurrent Special Dividend as defined in the Offering Circular under “Summary—Recent Developments—Concurrent Special Dividend and Use of Proceeds.” 

“Treasury Rate” means, as of the applicable redemption date, as determined by the Issuer, the yield to maturity as of such
redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to such
redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from such redemption date to November 1, 2020; provided, however, that
if the period from such redemption date to November 1, 2020 is less than one year, the weekly average yield on actively traded United States Treasury securities adjusted to a constant maturity of one year will be used. 

“Trust Officer” means any officer: 

(1)    within the corporate trust department of the Trustee, including any vice president, assistant vice
president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be any of the above designated officers,
respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject, and 

(2)    who shall have direct responsibility for the administration of this Indenture. 

“Trustee” means the party named as such in this Indenture in its capacity as trustee hereunder until a successor replaces it
and, thereafter, means the successor. 

  
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 “UCC” means the Uniform Commercial Code as in effect from time to time in the
State of New York; provided, however, that in the event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial Code as enacted
and in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions hereof relating to such
perfection, priority or remedies. 
 “Unrestricted Subsidiary” means: 

(1)    any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted
Subsidiary by the Board of Directors of the Issuer in the manner provided below; and 
 (2)    any
Subsidiary of an Unrestricted Subsidiary; 
 The Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly
formed Subsidiary) to be an Unrestricted Subsidiary unless at the time of such designation such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other
Restricted Subsidiary of the Issuer that is not a Subsidiary of the Subsidiary to be so designated, in each case at the time of such designation; provided, however, that 

(i)    the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and
do not thereafter Incur any Indebtedness pursuant to which the lender has recourse to any of the assets of the Issuer or any of the Restricted Subsidiaries unless otherwise permitted under Section 4.04, 

(ii)     (a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less or
(b) if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted under Section 4.04; and 

(iii)    the time of such designation of any Subsidiary of the Issuer to be an Unrestricted Subsidiary does
not occur during any Suspension Period. 
 The Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary;
provided, however, that immediately after giving effect to such designation: 

(x)    (1) the Issuer could Incur $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test set forth in Section 4.03(a) or (2) the Fixed Charge Coverage Ratio of the Issuer and its Restricted Subsidiaries would be no less than such ratio immediately prior to such designation, in each case on a pro
forma basis taking into account such designation, and 
 (y)    no Event of Default shall have
occurred and be continuing. 
 Any such designation by the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a
copy of the resolution of the Board of Directors or any committee thereof of the Issuer giving effect to such designation and an Officer’s Certificate certifying that such designation complied with the foregoing provisions. 

  
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 “U.S. Government Obligations” means securities that are: 

(1)    direct obligations of the United States of America for the timely payment of which its full faith
and credit is pledged, or 
 (2)    obligations of a Person controlled or supervised by and acting as an
agency or instrumentality of the United States of America, the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, 

which, in each case, are not callable or redeemable at the option of the issuer thereof, and shall also include a depository receipt issued by a bank (as
defined in Section 3(a)(2) of the Securities Act) as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government Obligations held by such custodian for the account
of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the
custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depository receipt. 

“Voting Stock” of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in
the election of the Board of Directors of such Person. 
 “Weighted Average Life to Maturity” means, when applied to any
Indebtedness or Disqualified Stock or Preferred Stock, as the case may be, at any date, the quotient obtained by dividing (1) the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock or Preferred Stock multiplied by the amount of such payment, by (2) the sum of all such payments. 

“Wholly Owned Restricted Subsidiary” is any Wholly Owned Subsidiary that is a Restricted Subsidiary. 

“Wholly Owned Subsidiary” of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other
ownership interests of which (other than directors’ qualifying shares or shares required pursuant to applicable law) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person. 

  
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 SECTION 1.02    Other Definitions. 

 

			
	 Term
	  	 Section

	 $
	  	 1.03(j)

	 Affiliate Transaction
	  	 4.07(a)

	 Agent Members
	  	 Appendix A

	 Asset Sale Offer
	  	 4.06(b)

	 Change of Control Offer
	  	 4.08(b)

	 Clearstream
	  	 Appendix A

	 covenant defeasance option
	  	 8.01(b)

	 Covenant Suspension Event
	  	 4.15

	 Custodian
	  	 6.01

	 Declined Amounts
	  	 4.04(b)

	 Deemed Date
	  	 4.03(c)(3)

	 Definitive Note
	  	 Appendix A

	 Depository
	  	 Appendix A

	 Election Date
	  	 4.04(d)

	 Euroclear
	  	 Appendix A

	 Event of Default
	  	 6.01

	 Excess Proceeds
	  	 4.06(b)

	 Global Notes
	  	 Appendix A

	 Global Notes Legend
	  	 Appendix A

	 Guaranteed Obligations
	  	 12.01(a)

	 IAI
	  	 Appendix A

	 Increased Amount
	  	 4.12(c)

	 Incurrence Clauses
	  	 4.04(c)

	 Initial Notes
	  	 Preamble

	 Issuer
	  	 Preamble

	 legal defeasance option
	  	 8.01(b)

	 New Subsidiary Guarantor
	  	 4.11

	 Notes
	  	 Preamble

	 Notes Custodian
	  	 Appendix A

	 Notice of Default
	  	 6.01

	 Offer Period
	  	 4.06(d)

	 Paying Agent
	  	 2.04(a)

	 Permitted Jurisdictions
	  	 5.01(a)

	 protected purchaser
	  	 2.08

	 QIB
	  	 Appendix A

	 Refinancing Indebtedness
	  	 4.03(b)(xv)

	 Refunding Capital Stock
	  	 4.04(b)(ii)

	 Registrar
	  	 2.04(a)

	 Regulation S
	  	 Appendix A

	 Regulation S Global Notes
	  	 Appendix A

	 Regulation S Notes
	  	 Appendix A

	 Reporting Entity
	  	 4.02(b)

	 Restricted Notes Legend
	  	 Appendix A

	 Restricted Payment Offer
	  	 4.04(b)

	 Restricted Payments
	  	 4.04(a)(iv)

	 Restricted Period
	  	 Appendix A

	 Retired Capital Stock
	  	 4.04(b)(ii)

	 Reversion Date
	  	 4.15

	 Rule 144A
	  	 Appendix A

  
 64 

			
	 Term
	  	 Section

	 Rule 144A Global Notes
	  	 Appendix A

	 Rule 144A Notes
	  	 Appendix A

	 Rule 501
	  	 Appendix A

	 Second Commitment
	  	 4.06(b)(ii)

	 Successor Company
	  	 5.01(a)(i)

	 Successor Subsidiary Guarantor
	  	 5.01(b)(i)

	 Suspended Covenants
	  	 4.15

	 Transfer Restricted Definitive Notes
	  	 Appendix A

	 Transfer Restricted Global Notes
	  	 Appendix A

	 Transfer Restricted Notes
	  	 Appendix A

	 Trustee
	  	 Preamble

	 U.S. dollars
	  	 1.03(j)

	 Unrestricted Definitive Notes
	  	 Appendix A

	 Unrestricted Global Notes
	  	 Appendix A

 SECTION 1.03    Rules of Construction. Unless the context otherwise requires:

 (a)    a term has the meaning assigned to it; 

(b)    an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; 

(c)    “or” is not exclusive; 

(d)    “including” means including without limitation; 

(e)    words in the singular include the plural and words in the plural include the singular; 

(f)    unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of
its nature as unsecured Indebtedness, and Secured Indebtedness shall not be deemed to be treated as subordinated or junior to any other Secured Indebtedness merely because it has a junior priority with respect to security in the same collateral;

 (g)    the principal amount of any non-interest bearing or other discount
security at any date shall be the principal amount thereof that would be shown on a balance sheet of the Issuer dated such date prepared in accordance with GAAP; 

(h)    the principal amount of any Preferred Stock shall be (i) the maximum liquidation value of such Preferred Stock
or (ii) the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; 

(i)    unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting
determinations hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with GAAP; and 

  
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 (j)    “$”, “money” and “U.S.
dollars” each refer to United States dollars, or such other money of the United States of America that at the time of payment is legal tender for payment of public and private debts. 

SECTION 1.04    No Incorporation by Reference of Trust Indenture Act. This Indenture is not qualified under
the TIA, and the TIA shall not apply to or in any way govern the terms of this Indenture. As a result, no provisions of the TIA are incorporated into this Indenture unless expressly incorporated pursuant to this Indenture. 

ARTICLE II 
 THE NOTES

 SECTION 2.01    Amount of Notes. The aggregate principal amount of Notes which may be authenticated
and delivered under this Indenture on the Issue Date is $350,000,000. 
 The Issuer may from time to time after the Issue Date issue
Additional Notes under this Indenture in an unlimited principal amount, so long as (i) the Incurrence of the Indebtedness represented by such Additional Notes is at such time permitted by Section 4.03 and (ii) such Additional Notes
are issued in compliance with the other applicable provisions of this Indenture. With respect to any Additional Notes issued after the Issue Date (except for Notes authenticated and delivered upon registration of transfer of, or in exchange for, or
in lieu of, other Notes pursuant to Section 2.07, 2.08, 2.09, 3.08, 4.06(e), 4.08(c) or Appendix A), there shall be (a) established in or pursuant to a resolution of the Board of Directors of the Issuer and (b) (i) set forth or
determined in the manner provided in an Officer’s Certificate or (ii) established in one or more indentures supplemental hereto, prior to the issuance of such Additional Notes: 

(1)    the aggregate principal amount of such Additional Notes which may be authenticated and delivered
under this Indenture; 
 (2)    the issue price and issuance date of such Additional Notes, including the
date from which interest on such Additional Notes shall accrue; and 
 (3)    if applicable, that such
Additional Notes shall be issuable in whole or in part in the form of one or more Global Notes and, in such case, the respective depositaries for such Global Notes, the form of any legend or legends which shall be borne by such Global Notes in
addition to or in lieu of those set forth in Exhibit A hereto and any circumstances in addition to or in lieu of those set forth in Section 2.2 of Appendix A in which any such Global Note may be exchanged in whole or in part for
Additional Notes registered, or any transfer of such Global Note in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Note or a nominee thereof. 

If any of the terms of any Additional Notes are established by action taken pursuant to a resolution of the Board of Directors, a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officer’s Certificate or an indenture supplemental hereto setting
forth the terms of the Additional Notes. 

  
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 The Initial Notes and any Additional Notes may, at the Issuer’s option, be treated as a
single class for all purposes under this Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase; provided that if the Additional Notes are not fungible with the Initial Notes for U.S. federal income
tax purposes, the Additional Notes will have a separate CUSIP number, if applicable. 
 SECTION 2.02    Form and
Dating. Provisions relating to the Initial Notes are set forth in Appendix A, which is hereby incorporated in and expressly made a part of this Indenture. The (i) Initial Notes and the Trustee’s certificate of authentication and
(ii) any Additional Notes and the Trustee’s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Notes may
have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Subsidiary Guarantor is subject, if any, or usage (provided that any such notation, legend or endorsement is in a form
acceptable to the Issuer). Each Note shall be dated the date of its authentication. The Notes shall be issuable only in registered form, without interest coupons, in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof,
provided that Notes may be issued in denominations of less than $2,000 solely to accommodate book-entry positions that have been created by participants of the Depository in denominations of less than $2,000. 

SECTION 2.03    Execution and Authentication. The Trustee shall authenticate and make available for delivery
upon a written order of the Issuer signed by one Officer of the Issuer (a) Initial Notes for original issue on the date hereof in an aggregate principal amount of $350,000,000 and (b) subject to the terms of this Indenture, Additional
Notes in an aggregate principal amount to be determined at the time of issuance and specified therein. Such order shall specify the amount of separate Note certificates to be authenticated, the principal amount of each of the Notes to be
authenticated, the date on which the original issue of Notes is to be authenticated, whether the Notes are to be Initial Notes or Additional Notes, the registered holder of each of the Notes and delivery instructions. Notwithstanding anything to the
contrary in this Indenture or Appendix A, any issuance of Additional Notes after the Issue Date shall be in a principal amount of at least $2,000 and integral multiples of $1,000 in excess thereof. 

One Officer shall sign the Notes for the Issuer by manual or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time the Trustee authenticates the Note, the Note shall be valid
nevertheless. 
 A Note shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on
the Note. The signature shall be conclusive evidence that the Note has been authenticated under this Indenture. 
 The Trustee may appoint
one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Notes. Any such appointment shall be evidenced by an instrument signed by a Trust Officer, a copy of which shall be furnished to the Issuer. Unless

  
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limited by the terms of such appointment, an authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes
authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 

SECTION 2.04    Registrar and Paying Agent. 

(a)    The Issuer shall maintain (i) an office or agency where Notes may be presented for registration of transfer or
for exchange (the “Registrar”) and (ii) an office or agency where Notes may be presented for payment (the “Paying Agent”). The Registrar shall keep a register of the Notes and of their transfer and exchange.
The Issuer may have one or more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrars. The term
“Paying Agent” includes the Paying Agent and any additional paying agents. The Issuer initially appoints the Trustee as Registrar, Paying Agent and the Notes Custodian with respect to the Global Notes. 

(b)    The Issuer may enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this
Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee in writing of the name and address of any such agent. If the Issuer fails to maintain a Registrar or Paying
Agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section 7.07. The Issuer or any of its domestically organized Subsidiaries may act as Paying Agent or Registrar. 

(c)    The Issuer may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to
the Trustee; provided, however, that no such removal shall become effective until (i) if applicable, acceptance of an appointment by a successor Registrar or Paying Agent, as the case may be, as evidenced by an appropriate
agreement entered into by the Issuer and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii) notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the
appointment of a successor in accordance with clause (i) above. The Registrar or Paying Agent may resign at any time upon written notice to the Issuer and the Trustee; provided, however, that the Trustee may resign as Paying Agent
or Registrar only if the Trustee also resigns as Trustee in accordance with Section 7.08. 

SECTION 2.05    Paying Agent to Hold Money in Trust. Prior to each due date of the principal of and interest
on any Note, the Issuer shall deposit with each Paying Agent (or if the Issuer or a Subsidiary is acting as Paying Agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such principal and
interest when so becoming due. The Issuer shall require each Paying Agent (other than the Trustee) to agree in writing that a Paying Agent shall hold in trust for the benefit of holders, the Trustee or the Priority Lien Collateral Trustee all money
held by a Paying Agent for the payment of principal of and interest on the Notes, and shall notify the Trustee of any default by the Issuer in making any such payment. If the Issuer or a Subsidiary of the Issuer acts as Paying Agent, it shall
segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuer at any time may require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed
by such Paying Agent. Upon complying with this Section 2.05, a Paying Agent shall have no further liability for the money delivered to the Trustee. 

  
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 SECTION 2.06    Holder Lists. The Trustee shall preserve in as
current a form as is reasonably practicable the most recent list available to it of the names and addresses of holders. If the Trustee is not the Registrar, the Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at
least five Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of holders. 

SECTION 2.07    Transfer and Exchange. The Notes shall be issued in registered form and shall be transferable
only upon the surrender of a Note for registration of transfer and in compliance with Appendix A. When a Note is presented to the Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if its
requirements therefor are met. When Notes are presented to the Registrar with a request to exchange them for an equal principal amount of Notes of other denominations, the Registrar shall make the exchange as requested if the same requirements are
met. To permit registration of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate Notes at the Registrar’s request. The Issuer may require payment of a sum sufficient to pay all taxes, assessments or other
governmental charges in connection with any transfer or exchange pursuant to this Section. The Issuer shall not be required to make, and the Registrar need not register, transfers or exchanges of Notes selected for redemption (except, in the case of
Notes to be redeemed in part, the portion thereof not to be redeemed) or of any Notes for a period of 15 days before a selection of Notes to be redeemed or between a Record Date and the relevant Interest Payment Date. 

Prior to the due presentation for registration of transfer of any Note, the Issuer, the Subsidiary Guarantors, the Trustee, the Paying Agent
and the Registrar may deem and treat the Person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest, if any, on such Note and for all other purposes whatsoever,
whether or not such Note is overdue, and none of the Issuer, the Subsidiary Guarantors, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

Any holder of a beneficial interest in a Global Note shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Note may be effected only through a book-entry system maintained by (a) the holder of such Global Note (or its agent) or (b) any holder of a beneficial interest in such Global Note, and that ownership of a
beneficial interest in such Global Note shall be required to be reflected in a book entry. 
 All Notes issued upon any transfer or exchange
pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Notes surrendered upon such transfer or exchange. 

The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on transfer imposed under
this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Depository participants or beneficial owners of interests in any Global Note) other than to

  
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require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine
the same to determine substantial compliance as to form with the express requirements hereof. 
 None of the Trustee, Registrar or Paying
Agent shall have any responsibility for any actions taken or not taken by the Depository. 

SECTION 2.08    Replacement Notes. If a mutilated Note is surrendered to the Registrar or if the holder of a
Note claims that the Note has been lost, destroyed or wrongfully taken, the Issuer shall (if the requirements of Section 8-405 of the UCC are met) issue and the Trustee shall, upon receipt of a written
order, authenticate a replacement Note, such that the holder (a) satisfies the Issuer and the Trustee of such loss, destruction or wrongful taking within a reasonable time after such holder has notice of such loss, destruction or wrongful
taking and the Registrar does not register a transfer prior to receiving such notification, (b) makes such request to the Issuer and the Trustee prior to the Note being acquired by a protected purchaser as defined in Section 8-303 of the UCC (a “protected purchaser”) and (c) satisfies any other reasonable requirements of the Issuer and the Trustee. If required by the Trustee or the Issuer, such holder
shall furnish an indemnity bond sufficient in the judgment of the Trustee, with respect to the Trustee, and the Issuer, with respect to the Issuer, to protect the Issuer, the Trustee, the Paying Agent and the Registrar, as applicable, from any loss
or liability that any of them may suffer if a Note is replaced and subsequently presented or claimed for payment. The Issuer and the Trustee may charge the holder for their expenses in replacing a Note (including without limitation, attorneys’
fees and disbursements in replacing such Note). In the event any such mutilated, lost, destroyed or wrongfully taken Note has become or is about to become due and payable, the Issuer in its discretion may pay such Note instead of issuing a new Note
in replacement thereof. 
 Every replacement Note is an additional obligation of the Issuer. 

The provisions of this Section 2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, lost, destroyed or wrongfully taken Notes. 

SECTION 2.09    Outstanding Notes. Notes outstanding at any time are all Notes authenticated by the Trustee
except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section 14.06, a Note does not cease to be outstanding because the Issuer or an Affiliate of the
Issuer holds the Note. 
 If a Note is replaced pursuant to Section 2.08 (other than a mutilated Note surrendered for replacement), it
ceases to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Note is held by a protected purchaser. A mutilated Note ceases to be outstanding upon surrender of such Note and replacement thereof
pursuant to Section 2.08. 
 If a Paying Agent segregates and holds in trust, in accordance with this Indenture, on a redemption date
or maturity date money sufficient to pay all principal and interest payable 

  
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on that date with respect to the Notes (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from paying such money to the holders on that date
pursuant to the terms of this Indenture, then on and after that date such Notes (or portions thereof) cease to be outstanding and interest on them ceases to accrue. 

SECTION 2.10    Cancellation. The Issuer at any time may deliver Notes to the Trustee for cancellation. The
Registrar and each Paying Agent shall forward to the Trustee any Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Notes surrendered for registration of transfer, exchange,
payment or cancellation and shall dispose of canceled Notes in accordance with its customary procedures. The Issuer may not issue new Notes to replace Notes they have redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall not
authenticate Notes in place of canceled Notes other than pursuant to the terms of this Indenture. 

SECTION 2.11    Defaulted Interest. If the Issuer defaults in a payment of interest on the Notes, the Issuer
shall pay the defaulted interest then borne by the Notes (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are holders on a subsequent special record
date. The Issuer shall fix or cause to be fixed any such special record date and payment date, and shall promptly mail or cause to be mailed to each affected holder a notice that states the special record date, the payment date and the amount of
defaulted interest to be paid. 
 SECTION 2.12    CUSIP Numbers, ISINs, Etc. The Issuer in issuing the Notes
may use CUSIP numbers, ISINs and “Common Code” numbers (if then generally in use), and the Trustee shall use any such CUSIP numbers, ISINs and “Common Code” numbers in notices of redemption as a convenience to holders;
provided, however, that any such notice may state that no representation is made as to the correctness of such numbers, either as printed on the Notes or as contained in any notice of a redemption that reliance may be placed only on
the other identification numbers printed on the Notes and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in any such CUSIP numbers, ISINs and
“Common Code” numbers. 
 SECTION 2.13    Calculation of Principal Amount of Notes. The aggregate
principal amount of the Notes, at any date of determination, shall be the principal amount of the Notes at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the holders of a specified
percentage of the principal amount of all the Notes, such percentage shall be calculated, on the relevant date of determination, by dividing (a) the principal amount, as of such date of determination, of Notes, the holders of which have so
consented, by (b) the aggregate principal amount, as of such date of determination, of the Notes then outstanding, in each case, as determined in accordance with the preceding sentence, Section 2.09 and Section 14.06 of this
Indenture. Any calculation of the Applicable Premium made pursuant to this Indenture or the Notes shall be made by the Issuer and delivered to the Trustee pursuant to an Officer’s Certificate. 

  
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 ARTICLE III 

REDEMPTION 

SECTION 3.01    Optional Redemption. The Notes may be redeemed, in whole or from time to time in part, subject
to the conditions and at the redemption prices set forth in Paragraph 5 of the Note set forth in Exhibit A hereto, which is hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest, if
any, to, but excluding, the redemption date (subject to the right of holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date). 

SECTION 3.02    Applicability of Article. Redemption of Notes at the election of the Issuer or otherwise, as
permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this Article III. 

SECTION 3.03    Notices to Trustee. If the Issuer elects to redeem Notes pursuant to the optional redemption
provisions of Paragraph 5 of the Note, the Issuer shall notify the Trustee in an Officer’s Certificate of (i) the Section of this Indenture pursuant to which the redemption shall occur, (ii) the redemption date, (iii) the
principal amount of Notes to be redeemed and (iv) the redemption price. The Issuer shall give notice to the Trustee provided for in this paragraph at least 30 days but not more than 60 days before a redemption date if the redemption is a
redemption pursuant to Paragraph 5 of the Note, except that notice may be given to the Trustee more than 60 days prior to the redemption date if the notice is given in connection with a defeasance of the Notes or a satisfaction and discharge of this
Indenture pursuant to Article VIII. The Issuer may also include a request in such Officer’s Certificate that the Trustee give the notice of redemption in the Issuer’s name and at its expense and setting forth the information to be stated
in such notice as provided in Section 3.05. Any such notice may be canceled if written notice from the Issuer of such cancellation is actually received by the Trustee on the Business Day immediately prior to notice of such redemption being
mailed to any holder or otherwise delivered in accordance with the applicable procedures of the Depository and shall thereby be void and of no effect. The Issuer shall deliver to the Trustee such documentation and records as shall enable the Trustee
to select the Notes to be redeemed pursuant to Section 3.04. 
 SECTION 3.04    Selection of Notes to Be
Redeemed. In the case of any partial redemption, selection of Notes for redemption will be made by the Trustee in compliance with the requirements of the principal national securities exchange, if any, on which the Notes are listed (and the
Issuer shall notify the Trustee of any such listing), or if the Notes are not so listed, on a pro rata basis to the extent practicable or by lot (and, in such manner that complies with the requirements of the Depository, if applicable);
provided that no Notes of a minimum denomination of $2,000 or less shall be redeemed in part. The Trustee shall make the selection from outstanding Notes not previously called for redemption. The Trustee may select for redemption portions of
the principal of Notes that have denominations larger than $2,000. Notes and portions of Notes the Trustee selects shall be in amounts of $2,000 or integral multiples of $1,000 in excess thereof. Provisions of this Indenture that apply to Notes
called for redemption also apply to portions of Notes called for redemption. The Trustee shall notify the Issuer promptly of the Notes or portions of Notes to be redeemed. 

  
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 SECTION 3.05    Notice of Optional Redemption. 

(a)    At least 30 but not more than 60 days before a redemption date pursuant to Paragraph 5 of the Note, the Issuer
shall mail or cause to be mailed by first-class mail at its registered address, or otherwise deliver in accordance with the procedures of the Depository, a notice of redemption to each holder whose Notes are to be redeemed (with a copy to the
Trustee), except that redemption notices may be mailed or otherwise delivered more than 60 days prior to the redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture
pursuant to Article VIII. 
 Any such notice shall identify the Notes to be redeemed and shall state: 

(i)    the redemption date; 

(ii)    the redemption price and the amount of accrued interest to the redemption date; 

(iii)    the name and address of the Paying Agent; 

(iv)    that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption
price, plus accrued and unpaid interest, if any; 
 (v)    if fewer than all the outstanding Notes are to
be redeemed, the certificate numbers and principal amounts of the particular Notes to be redeemed, the aggregate principal amount of Notes to be redeemed and the aggregate principal amount of Notes to be outstanding after such partial redemption;

 (vi)    that, unless the Issuer defaults in making such redemption payment or the Paying Agent is
prohibited from making such payment pursuant to the terms of this Indenture, interest on Notes (or portion thereof) called for redemption ceases to accrue on and after the redemption date; 

(vii)    the CUSIP number, ISIN and/or “Common Code” number, if any, printed on the Notes being
redeemed; 
 (viii)    that no representation is made as to the correctness or accuracy of the CUSIP
number or ISIN and/or “Common Code” number, if any, listed in such notice or printed on the Notes; 

(ix)    if the redemption is subject to the satisfaction of one or more conditions precedent, the notice
thereof shall describe each such condition and, if applicable, shall state that, in the Issuer’s discretion, the redemption date may be delayed until such time as any or all such conditions shall be satisfied (or waived by the Issuer in its
sole discretion), and/or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied (or waived by the Issuer in its sole discretion) by the redemption date, or by the
redemption date as so delayed, and/or that such notice may be rescinded at any time by the Issuer if the Issuer determines in its sole discretion that any or all of such conditions will not be satisfied (or waived); and 

  
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 (x)    at the Issuer’s option, that the payment of the
redemption price and performance of the Issuer’s obligations with respect to such redemption may be performed by another Person. 

Notice of any redemption upon any corporate transaction or other event (including any Equity Offering, Incurrence of Indebtedness, Change of
Control or other transaction) may be given prior to the completion thereof. In addition, any redemption or notice thereof may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not limited to, completion
of a corporate transaction or other event. For the avoidance of doubt, if any redemption date shall be delayed as contemplated by this Section 3.05 and the terms of the applicable notice of redemption, such redemption date as so delayed may
occur at any time after the original redemption date set forth in the applicable notice of redemption and after the satisfaction (or waiver) of any applicable conditions precedent, including, without limitation, on a date that is less than 30 days
after the original redemption date or more than 60 days after the date of the applicable notice of redemption. To the extent that the redemption date will occur on a date other than the original redemption date set forth in the applicable notice of
redemption, the Issuer shall notify the holders and the Trustee of the final redemption date, which redemption date shall accommodate any timing requirements of the Depository then in effect, prior to such date; provided that the failure to
give such notice, or any defect therein, shall not impair or affect the validity of any redemption under this Article III. 

(b)    At the Issuer’s written request, the Trustee shall deliver the notice of redemption in the Issuer’s name
and at the Issuer’s expense. In such event, the Issuer shall notify the Trustee of such request at least three Business Days (or such shorter period as is acceptable to the Trustee) prior to the date such notice is to be provided to holders.

 SECTION 3.06    Effect of Notice of Redemption. Once notice of redemption is mailed or otherwise
delivered in accordance with Section 3.05, Notes called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in the final paragraph of Paragraph 5 of the Note or
Section 3.05(a). Upon surrender to the Paying Agent, such Notes shall be paid at the redemption price stated in the notice, plus, in the case of an optional redemption in accordance with Section 3.01, accrued and unpaid interest, if
any, to, but excluding, the redemption date; provided, however, that if the redemption date is after a regular Record Date and on or prior to the next Interest Payment Date, the accrued interest shall be payable to the holder of the
redeemed Notes registered on the relevant Record Date. Failure to give notice or any defect in the notice to any holder shall not affect the validity of the notice to any other holder. 

SECTION 3.07    Deposit of Redemption Price. With respect to any Notes, prior to 11:00 a.m., New York
City time, on the redemption date, the Issuer shall deposit, or cause to be deposited, with the Paying Agent (or, if the Issuer or a Subsidiary of the Issuer is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the
redemption price of, plus accrued and unpaid interest, if any, on all Notes or portions thereof to be redeemed on that date other than Notes or portions of Notes called for redemption that have been delivered by the

  
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Issuer to the Trustee for cancellation. On and after the redemption date, interest shall cease to accrue on Notes or portions thereof called for redemption so long as the Issuer has deposited
with the Paying Agent funds sufficient to pay the principal of, plus, accrued and unpaid interest, if any, on, the Notes or portions thereof to be redeemed, unless the Paying Agent is prohibited from making such payment pursuant to the terms
of this Indenture. 
 SECTION 3.08    Notes Redeemed in Part. If any Note is to be redeemed in part only,
the notice of redemption relating to such Note shall state the portion of the principal amount thereof to be redeemed. Upon surrender and cancellation of a Note that is redeemed in part, the Issuer shall execute and the Trustee shall authenticate
for the holder (at the Issuer’s expense) a new Note equal in principal amount to the unredeemed portion of the Note surrendered and cancelled (or if the Note is a Global Note, an adjustment shall be made to the “Schedule of Increases or
Decreases in Global Note” attached thereto in accordance with the applicable procedures of the Depositary). 
 ARTICLE IV 

COVENANTS 

SECTION 4.01    Payment of Notes. The Issuer shall promptly pay the principal of and interest on the Notes on
the dates and in the manner provided in the Notes and in this Indenture. An installment of principal of or interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds as of 11:00 a.m. New York City
time money sufficient to pay all principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the holders on that date pursuant to the terms of this Indenture. 

The Issuer shall pay interest on overdue principal at the rate specified therefor in the Notes, and it shall pay interest on overdue
installments of interest at the same rate borne by the Notes to the extent lawful. 
 SECTION 4.02    Reports
and Other Information. 
 (a)    For so long as any Notes are outstanding, the Issuer shall deliver to the Trustee a
copy of all of the information and reports referred to below: 
 (i)    within 15 days after the time
period specified in the SEC’s rules and regulations for non-accelerated filers, annual reports of the Reporting Entity (as defined below) for such fiscal year containing the information that would have
been required to be contained in an annual report on Form 10-K (or any successor or comparable form) if the Reporting Entity had been a reporting company under the Exchange Act, except to the extent permitted
to be excluded by the SEC; 
 (ii)    within 15 days after the time period specified in the SEC’s
rules and regulations for non-accelerated filers, quarterly reports of the Reporting Entity for such fiscal quarter containing the information that would have been required to be contained in a quarterly
report on Form 10-Q (or any successor or comparable form) if the Reporting Entity had been a reporting company under the Exchange Act, except to the extent permitted to be excluded by the SEC; and 

  
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 (iii)    within 15 days after the time period specified in
the SEC’s rules and regulations for filing current reports on Form 8-K, current reports of the Reporting Entity containing substantially all of the information that would be required to be filed in a
current report on Form 8-K under the Exchange Act on the Issue Date pursuant to Sections 1, 2, and 4, Items 5.01, 5.02(a), (b) and (c) and Item 9.01(a) and (b) (only to the extent relating to
any of the foregoing) of Form 8-K if the Reporting Entity had been a reporting company under the Exchange Act; provided, however, that no such current reports (or Items thereof or all or a
portion of the financial statements that would have otherwise been required thereby) will be required to be delivered (or included) if the Issuer determines in its good faith judgment that such event (or information) is not material to holders or
the business, assets, operations, financial position or prospects of the Issuer and its Restricted Subsidiaries, taken as a whole. 
 In
addition to providing such information to the Trustee, the Issuer shall make available to the holders, prospective investors, market makers affiliated with any initial purchaser of the Notes and securities analysts the information required to be
provided pursuant to the foregoing clauses (i), (ii) and (iii), by posting such information to its website (or the website of any of the Issuer’s parent companies, including the Reporting Entity) or on IntraLinks or any comparable online data
system or website. 
 Notwithstanding the foregoing, (A) neither the Issuer nor another Reporting Entity will be required to deliver
any information, certificates or reports that would otherwise be required by (i) Section 302 or Section 404 of the Sarbanes-Oxley Act of 2002, or related Items 307 or 308 of Regulation S-K or
(ii) Item 10(e) of Regulation S-K promulgated by the SEC with respect to any non-generally accepted accounting principles financial measures contained therein,
(B) such reports will not be required to contain financial information required by Rule 3-09, Rule 3-10 or Rule 3-16 of
Regulation S-X or include any exhibits or certifications required by Form 10-K, Form 10-Q or Form
8-K (or any successor or comparable forms) or related rules under Regulation S-K, (C) such reports shall be subject to exceptions, exclusions and other differences
consistent with the presentation of financial and other information in the Offering Circular and shall not be required to present compensation or beneficial ownership information and (D) trade secrets and other proprietary information may be
excluded from any disclosures. 
 (b)    The financial statements, information and other documents required to be
provided as described in this Section 4.02 may be those of (i) the Issuer or (ii) any direct or indirect parent of the Issuer (any such entity described in clause (i) or (ii), a “Reporting Entity”), so long as in
the case of clause (ii) either (1) such direct or indirect parent of the Issuer shall not conduct, transact or otherwise engage, or commit to conduct, transact or otherwise engage, in any business or operations other than its direct
or indirect ownership of all of the Equity Interests in, and its management of, the Issuer or (2) if otherwise, the financial information so delivered shall be accompanied by a reasonably detailed description of the quantitative differences
between the information relating to such parent, on the one hand, and the information relating to the Issuer and its Restricted Subsidiaries on a standalone basis, on the other hand. 

  
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 (c)    The Issuer shall make such information available electronically to
prospective investors upon request. The Issuer shall, for so long as any Notes remain outstanding during any period when neither it nor another Reporting Entity is subject to Section 13 or 15(d) of the Exchange Act, or otherwise permitted to
furnish the SEC with certain information pursuant to Rule 12g3-2(b) of the Exchange Act, furnish to the holders of the Notes and to prospective investors, upon their request, the information required to be
delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (d)    Notwithstanding the foregoing, the Issuer
shall be deemed to have delivered such reports and information referred to in this Section 4.02 to the holders, prospective investors, market makers, securities analysts and the Trustee for all purposes of this Indenture if the Issuer or
another Reporting Entity has filed such reports with the SEC via the EDGAR filing system (or any successor system) and such reports are publicly available. In addition, the requirements of this Section 4.02 shall be deemed satisfied and the
Issuer will be deemed to have delivered such reports and information referred to this Section 4.02 to holders, prospective investors, market makers and securities analysts for all purposes of this Indenture by the posting of reports and
information that would be required to be provided on the Issuer’s website (or that of any of the Issuer’s parent companies, including the Reporting Entity).The Trustee shall have no obligation to monitor whether the Issuer posts such
reports, information and documents on the Issuer’s website (or that of any of the Issuer’s parent companies, including the Reporting Entity) or the SEC’s EDGAR service, or collect any such information from the Issuer’s (or any of
the Issuer’s parent companies’) website or the SEC’s EDGAR service. The Trustee shall have no liability or responsibility for the content, filing or timeliness of any report or other information delivered or filed under or in
connection with this Indenture or the transactions contemplated thereunder. 
 (e)    The Issuer shall hold quarterly
conference calls, beginning with the first full fiscal quarter ending after the Issue Date, for all holders of the Notes, prospective investors, market makers affiliated with any initial purchaser of the Notes and securities analysts to discuss such
financial information no later than ten Business Days after the distribution of such information required by clauses (i) or (ii) of Section 4.02(a) and, prior to the date of each such conference call, the Issuer shall announce the time and
date of such conference call and either include all information necessary to access the call or inform holders of the Notes, prospective investors, market makers affiliated with any initial purchaser of the Notes and securities analysts how they can
obtain such information, including, without limitation, the applicable password or login information (if applicable). 

(f)    Delivery of such reports, information and documents to the Trustee pursuant to this Section 4.02 and the
Trustee’s receipt thereof shall not constitute actual or constructive knowledge of, or written notice to, the Trustee with respect to any information contained therein or determinable from information contained therein, including the
Issuer’s compliance with any of its covenants under this Indenture (as to which the Trustee is entitled to rely conclusively on the Officer’s Certificates). The Trustee is under no duty to examine such reports, information or documents to
ensure compliance with the provision of this Indenture or to ascertain the correctness or otherwise of the information or the statements contained therein. 

  
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 SECTION 4.03    Limitation on Incurrence of Indebtedness and Issuance
of Disqualified Stock and Preferred Stock. 
 (a)    (i) The Issuer shall not, and shall not permit any of the
Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii) the Issuer shall not permit any of the Restricted Subsidiaries (other than a
Subsidiary Guarantor) to issue any shares of Preferred Stock; provided, however, that the Issuer and any Subsidiary Guarantor may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock, and any
Restricted Subsidiary of the Issuer that is not a Subsidiary Guarantor may Incur Indebtedness (including Acquired Indebtedness), issue shares of Disqualified Stock or issue shares of Preferred Stock, in each case if the Fixed Charge Coverage Ratio
of the Issuer for the most recently ended four full fiscal quarters for which financial statements have been delivered to the Trustee immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock or
Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified
Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period; provided, further, that any Restricted Subsidiary that is not a
Subsidiary Guarantor may not Incur Indebtedness or issue shares of Disqualified Stock or Preferred Stock in excess of a principal amount or liquidation preference at the time of Incurrence, when aggregated with the principal amount or liquidation
preference of all other Indebtedness, Disqualified Stock or Preferred Stock then outstanding and Incurred by a Restricted Subsidiary that is not a Subsidiary Guarantor pursuant to this Section 4.03(a), together with any Refinancing Indebtedness
thereof pursuant to Section 4.03(b)(xv), equal to, after giving pro forma effect to such Incurrence (including pro forma effect to the application of the net proceeds therefrom), $25.0 million (plus, in the case of any
Refinancing Indebtedness, the Additional Refinancing Amount). 
 (b)    The limitations set forth in
Section 4.03(a) shall not apply to: 
 (i)    (x) the Incurrence by the Issuer and the Subsidiary
Guarantors of Indebtedness under ABL Credit Facilities in an aggregate principal amount at any one time outstanding not to exceed the ABL Lien Cap, and (y) the Incurrence by the Issuer and the Subsidiary Guarantors of Priority Lien Debt in an
aggregate principal amount (with letters of credit and bankers’ acceptances being deemed to have a principal amount equal to the face amount thereof) at any one time outstanding not to exceed the Priority Lien Cap and, in each case, any related
guarantees thereof; 
 (ii)    the Incurrence by the Issuer and the Subsidiary Guarantors of Indebtedness
represented by the Notes and the Subsidiary Guarantees issued on the Issue Date up to an aggregate principal amount outstanding at the time of Incurrence that does not exceed $350.0 million; 

(iii)    Indebtedness existing on the Issue Date (other than Indebtedness described in clauses (i) and
(ii)); 

  
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 (iv)    Indebtedness (including Capitalized Lease
Obligations) Incurred by the Issuer or any Restricted Subsidiary, Disqualified Stock issued by the Issuer or any Restricted Subsidiary and Preferred Stock issued by any Restricted Subsidiary to finance (whether prior to or within 270 days after) the
acquisition, lease, construction, installation, repair, replacement or improvement of property (real or personal), equipment or other asset (whether through the direct purchase of assets or the Capital Stock of any Person owning such assets) in an
aggregate principal amount that, when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock or Preferred Stock then outstanding and Incurred pursuant to this clause (iv), together with any
Refinancing Indebtedness in respect thereof Incurred pursuant to clause (xv) below, does not exceed the greater of $100.0 million and 10.0% of Consolidated Total Assets (plus, in the case of any Refinancing Indebtedness, the Additional
Refinancing Amount); 
 (v)    Indebtedness Incurred by the Issuer or any Restricted Subsidiary
constituting reimbursement obligations with respect to letters of credit and bank guarantees issued in the ordinary course of business, including without limitation letters of credit in respect of workers’ compensation claims, health,
disability or other benefits to employees or former employees or their families or property, casualty or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of,
environmental or other permits or licenses from governmental authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers’ compensation claims; 

(vi)    Indebtedness arising from agreements of the Issuer or any Restricted Subsidiary providing for
indemnification, adjustment of acquisition or purchase price or similar obligations (including earn-outs), in each case, Incurred or assumed in connection with any Investments or any acquisition or disposition of any business, assets or a Subsidiary
not prohibited by this Indenture, other than guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; 

(vii)    Indebtedness of the Issuer to a Restricted Subsidiary; provided that (except in respect of
intercompany current liabilities Incurred in the ordinary course of business in connection with the cash management, tax and accounting operations of the Issuer and its Subsidiaries) any such Indebtedness owed by the Issuer to a Restricted
Subsidiary that is not a Subsidiary Guarantor is subordinated in right of payment to the obligations of the Issuer under the Notes; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event
which results in any such Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary or any pledge of such
Indebtedness constituting a Permitted Lien but not the transfer thereof upon foreclosure) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this clause (vii); 

(viii)    shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted
Subsidiary; provided that any subsequent issuance or transfer of any 

  
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Capital Stock or any other event which results in any Restricted Subsidiary that holds such shares of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any
other subsequent transfer of any such shares of Preferred Stock (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred Stock not permitted by this clause (viii); 

(ix)    Indebtedness of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary;
provided that if a Subsidiary Guarantor owes such Indebtedness to a Restricted Subsidiary that is not a Subsidiary Guarantor (except in respect of intercompany current liabilities Incurred in the ordinary course of business in connection with
the cash management, tax and accounting operations of the Issuer and its Subsidiaries), such Indebtedness is subordinated in right of payment to the Subsidiary Guarantee of such Subsidiary Guarantor; provided, further, that any
subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to
the Issuer or another Restricted Subsidiary or any pledge of such Indebtedness constituting a Permitted Lien but not the transfer thereof upon foreclosure) shall be deemed, in each case, to be an Incurrence of such Indebtedness not permitted by this
clause (ix); 
 (x)    Swap Obligations that are not Incurred for speculative purposes; 

(xi)    obligations in respect of self-insurance and obligations (including reimbursement obligations with
respect to letters of credit, bank guarantees, warehouse receipts and similar instruments) in respect of performance, bid, appeal and surety bonds, performance and completion guarantees and similar obligations provided by the Issuer or any
Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry norm, including those incurred to secure health, safety and environmental obligations in the ordinary course of business or consistent with past
practice or industry norm; 
 (xii)    Indebtedness or Disqualified Stock of the Issuer or Indebtedness,
Disqualified Stock or Preferred Stock of any Restricted Subsidiary in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock
and Preferred Stock then outstanding and Incurred pursuant to this clause (xii), together with any Refinancing Indebtedness in respect thereof Incurred pursuant to clause (xv) below, does not exceed the greater of $100.0 million and 10.0%
of Consolidated Total Assets (plus, in the case of any Refinancing Indebtedness, the Additional Refinancing Amount); 

(xiii)    Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary and Preferred Stock
of any Restricted Subsidiary in an aggregate principal amount or liquidation preference outstanding at the time of Incurrence, together with Refinancing Indebtedness in respect thereof Incurred pursuant to clause (xv) hereof, not greater than
an amount equal to 100% of the amount of net cash proceeds received by the Issuer and its Restricted Subsidiaries since immediately after the Issue Date from the issue or sale for cash of Equity Interests of the Issuer or any direct or indirect
parent 

  
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entity of the Issuer (which cash proceeds are contributed to the Issuer or any Restricted Subsidiary) or cash contributed to the capital of the Issuer (in each case other than proceeds of
Disqualified Stock or sales of Equity Interests to, or contributions received from, the Issuer or any of its Subsidiaries) to the extent such net cash proceeds or cash have not been applied to increase the calculation of the Cumulative Credit
pursuant to clauses (2) or (3) of the definition thereof or applied to make Restricted Payments specified in Section 4.04(b)(ix) or to make Permitted Investments specified in clause (12) of the definition thereof (plus, in the case of
any Refinancing Indebtedness, the Additional Refinancing Amount); 
 (xiv)    any guarantee by the Issuer
or any Restricted Subsidiary of Indebtedness or other obligations of the Issuer or any Restricted Subsidiary so long as the Incurrence of such Indebtedness or other obligations by the Issuer or such Restricted Subsidiary is permitted under the terms
of this Indenture; provided that (A) if such Indebtedness is by its express terms subordinated in right of payment to the Notes or the Subsidiary Guarantee of the Issuer or such Restricted Subsidiary, as applicable, any such guarantee
with respect to such Indebtedness shall be subordinated in right of payment to the Notes or such Subsidiary Guarantee, as applicable, substantially to the same extent as such Indebtedness is subordinated to the Notes or the Subsidiary Guarantee, as
applicable, and (B) if such guarantee is of Indebtedness of the Issuer, such guarantee is Incurred in accordance with, or not in contravention of, Section 4.11 solely to the extent Section 4.11 is applicable; 

(xv)    Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary or Preferred Stock of
a Restricted Subsidiary that serves to replace, refund, refinance or defease any Indebtedness (or unutilized commitments in respect of Indebtedness (only to the extent the committed amount (i) could have been Incurred on the date of initial
Incurrence and was deemed Incurred at such time for the purposes of this covenant or (ii) could have been Incurred other than as Refinancing Indebtedness on the date of such replacement, refunding or refinancing)) Incurred or Disqualified Stock
or Preferred Stock issued as permitted under Section 4.03(a) and clauses(i)(y), (ii), (iii), (iv), (xii), (xiii), (xv), (xvi), (xx), (xxiii) and (xxvii) of this Section 4.03(b) up to the outstanding principal amount (or, if
applicable, the liquidation preference, face amount, or the like) or, if greater, committed amount (only to the extent the committed amount (i) could have been Incurred on the date of initial Incurrence and was deemed Incurred at such time for
the purposes of this Section 4.03 or (ii) could have been Incurred other than as Refinancing Indebtedness on the date of such replacement, refunding or refinancing) of such Indebtedness or Disqualified Stock or Preferred Stock, in each
case at the time such Indebtedness was Incurred or Disqualified Stock or Preferred Stock was issued or committed pursuant to Section 4.03(a) or clauses (i)(y), (ii), (iii), (iv), (xii), (xiii), (xv), (xvi), (xx), (xxiii) and (xxvii) of
this Section 4.03(b), or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so replace, refund, refinance or defease such Indebtedness (or such unutilized commitments in respect of Indebtedness), Disqualified Stock or Preferred
Stock, plus any additional Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including tender premiums), accrued and unpaid interest, expenses, defeasance costs and fees in connection therewith (subject to 

  
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the following proviso, “Refinancing Indebtedness”) prior to its respective maturity; provided, however, that such Refinancing Indebtedness: 

(1)    has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is Incurred which
is not less than the shorter of (x) the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being replaced, refunded, refinanced or defeased and (y) the Weighted Average Life to Maturity
that would result if all payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being replaced, refunded, refinanced or defeased that were due on or after the date that is one year following the last maturity date of any
Notes then outstanding were instead due on such date (provided that this subclause (1) will not apply to any replacement, refunding, refinancing or defeasance of any Secured Indebtedness); 

(2)    to the extent such Refinancing Indebtedness refinances (a) Indebtedness subordinated in right
of payment to the Notes or a Subsidiary Guarantee, as applicable, such Refinancing Indebtedness is subordinated in right of payment to the Notes or the Subsidiary Guarantee, as applicable, or (b) Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness is Disqualified Stock or Preferred Stock; and 
 (3)    shall not include
(x) Indebtedness of a Restricted Subsidiary that is not a Subsidiary Guarantor that refinances Indebtedness of the Issuer or a Subsidiary Guarantor, or (y) Indebtedness of the Issuer or a Restricted Subsidiary that refinances Indebtedness
of an Unrestricted Subsidiary; 
 (xvi)    Indebtedness, Disqualified Stock or Preferred Stock of
(A) the Issuer or any Restricted Subsidiary Incurred to finance an acquisition or (B) Persons that are acquired by the Issuer or any Restricted Subsidiary or merged, consolidated or amalgamated with or into the Issuer or any Restricted
Subsidiary in accordance with the terms of this Indenture; provided that after giving effect to such acquisition or merger, consolidation or amalgamation, either: 

(1)    the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the
Fixed Charge Coverage Ratio test set forth in Section 4.03(a); or 
 (2)    the Fixed Charge
Coverage Ratio of the Issuer would be no less than immediately prior to such acquisition or merger, consolidation or amalgamation; 

provided, further, that the aggregate principal amount of Indebtedness of Restricted Subsidiaries that are not Subsidiary Guarantors
Incurred under this clause (xvi) (solely if Incurred in contemplation of such acquisition or merger, consolidation or amalgamation) and outstanding at the time of Incurrence, together with any Refinancing Indebtedness in respect thereof Incurred
pursuant to clause (xv) hereof, shall not exceed $25.0 million (plus, in the case of any Refinancing Indebtedness, the Additional Refinancing Amount); 

(xvii)    Indebtedness in connection with Permitted Securitization Financings; 

  
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 (xviii)    Indebtedness arising from the honoring by a bank
or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business; provided that such Indebtedness is extinguished within five Business Days of its Incurrence; 

(xix)    Indebtedness of the Issuer or any Restricted Subsidiary (i) supported by a letter of credit
or bank guarantee issued pursuant to the Credit Agreement, in a principal amount not in excess of the stated amount of such letter of credit or (ii) in respect of cash management services in the ordinary course of business or consistent with
past practice or industry norm; 
 (xx)    Indebtedness of Restricted Subsidiaries that are not
Subsidiary Guarantors; provided, however, that the aggregate principal amount of Indebtedness Incurred under this clause (xx), when aggregated with the principal amount of all other Indebtedness then outstanding and Incurred
pursuant to this clause (xx), together with Refinancing Indebtedness in respect thereof Incurred pursuant to clause (xv) hereof, does not exceed the greater of $25.0 million and 2.5% of Consolidated Total Assets (plus, in the case of
any Refinancing Indebtedness, the Additional Refinancing Amount); 
 (xxi)    Indebtedness of the Issuer
or any Restricted Subsidiary consisting of (A) the financing of insurance premiums or (B) take-or-pay obligations contained in supply or other arrangements, in
each case, in the ordinary course of business or consistent with past practice or industry norm; 

(xxii)    Indebtedness consisting of Indebtedness issued by the Issuer or a Restricted Subsidiary to
current or former officers, directors and employees thereof or any direct or indirect parent thereof, or their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Issuer or any
direct or indirect parent of the Issuer to the extent permitted by Section 4.04; 

(xxiii)    Indebtedness of, Incurred on behalf of, or representing guarantees of Indebtedness of, joint
ventures of the Issuer and any Restricted Subsidiary; provided, however, that the aggregate principal amount of Indebtedness Incurred under this clause (xxiii), when aggregated with the principal amount of all other Indebtedness then
outstanding and Incurred pursuant to this clause (xxiii) at the time of Incurrence, together with any Refinancing Indebtedness in respect thereof Incurred pursuant to clause (xv) hereof, does not exceed $35.0 million (plus, in the
case of any Refinancing Indebtedness, the Additional Refinancing Amount); 
 (xxiv)    guarantees by the
Issuer and its Restricted Subsidiaries of Indebtedness under customer financing lines of credit entered into in the ordinary course of business or consistent with past practice or industry norm; 

(xxv)    Indebtedness in respect of Obligations of the Issuer or any Restricted Subsidiary to pay the
deferred purchase price of goods or services or progress payments in connection with such goods and services; provided that such obligations are Incurred 

  
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in connection with open accounts extended by suppliers on customary trade terms in the ordinary course of business or consistent with past practice or industry norm and not in connection with the
borrowing of money or any Swap Obligations; 
 (xxvi)    Indebtedness of the Issuer or any Restricted
Subsidiary to or on behalf of any joint venture (regardless of the form of legal entity) that is not a Restricted Subsidiary arising in the ordinary course of business in connection with the cash management operations (including with respect to
intercompany self-insurance arrangements) of the Issuer and its Restricted Subsidiaries; and 

(xxvii)    the Incurrence by the Issuer and the Subsidiary Guarantors of Junior Lien Debt in an aggregate
principal amount (with letters of credit and bankers’ acceptances issued thereunder being deemed to have a principal amount equal to the face amount thereof) at any one time outstanding not to exceed the Junior Lien Cap and any related
guarantees thereof. 
 (c)    For purposes of determining compliance with this Section 4.03: 

(1)    in the event that an item of Indebtedness, Disqualified Stock or Preferred Stock (or any portion
thereof) meets the criteria of more than one of the categories of permitted Indebtedness described in clauses (i) through (xxvii) of Section 4.03(b) above (or any portion thereof) or is entitled to be Incurred or issued pursuant to
Section 4.03(a), then the Issuer may, in its sole discretion, divide, classify or reclassify, or later divide, classify or reclassify (as if Incurred at such later time), such item of Indebtedness, Disqualified Stock or Preferred Stock (or any
portion thereof) in any manner that complies with this Section 4.03; provided, that (x) all ABL Debt will be deemed to have been Incurred in reliance on the exception provided by clause (i)(x) above, (y) all Priority Lien Debt
Incurred in reliance on the exception provided in clause (i)(y) above under clause (i) of the definition of Priority Lien Cap or Junior Lien Cap shall be deemed Incurred under such clause (i) of such definition and may not later be
reclassified to clause (ii) of such definitions, and (z) the Notes and the Subsidiary Guarantees outstanding on the Issue Date shall be Incurred under clause (ii) above and, in each case, may not be reclassified; 

(2)    at the time of Incurrence, division, classification or reclassification, the Issuer will be entitled
to divide and classify an item of Indebtedness in more than one of the categories of Indebtedness described in Section 4.03(a) or clauses (i) through (xxvii) of Section 4.03(b) (or any portion thereof) without giving pro
forma effect to the Indebtedness Incurred, divided, classified or reclassified pursuant to any other clause or paragraph of Section 4.03 (or any portion thereof) when calculating the amount of Indebtedness that may be Incurred, divided,
classified or reclassified pursuant to any such clause or paragraph (or any portion thereof) at such time; and 

(3)    in connection with the Incurrence or issuance, as applicable, of (x) revolving loan
Indebtedness under this Section 4.03 or (y) any commitment relating to the Incurrence or issuance of Indebtedness, Disqualified Stock or Preferred Stock under this Section 4.03 and the granting of any Lien to secure such Indebtedness,
the Issuer or 

  
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applicable Restricted Subsidiary may designate such Incurrence or issuance and the granting of any Lien therefor as having occurred on the date of first Incurrence of such revolving loan
Indebtedness or commitment (such date, the “Deemed Date”), and any related subsequent actual Incurrence or issuance and granting of such Lien therefor will be deemed for all purposes under this Indenture to have been Incurred or
issued and granted on such Deemed Date, including, without limitation, for purposes of calculating the Fixed Charge Coverage Ratio, usage of any baskets hereunder (if applicable), the Total Indebtedness Leverage Ratio, the Secured Leverage Ratio,
the Priority Secured Leverage Ratio and EBITDA (and all such calculations on and after the Deemed Date until the termination or funding of such commitment shall be made on a pro forma basis giving effect to the deemed Incurrence or issuance,
the granting of any Lien therefor and related transactions in connection therewith). 
 Accrual of interest, the accretion of accreted
value, the payment of interest or dividends in the form of additional Indebtedness, Disqualified Stock or Preferred Stock, as applicable, amortization of original issue discount or deferred financing costs, the reclassification of Preferred Stock as
Indebtedness due to a change in accounting principles, the accretion of original issue discount or deferred financing costs or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the
exchange rate of currencies or increases in the value of property securing Indebtedness described in clause (3) of the definition of Indebtedness will not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for
purposes of this Section 4.03. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the
determination of such amount of Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section 4.03. 

For purposes of determining compliance with any U.S. dollar-denominated restriction on the Incurrence of Indebtedness, the U.S.
dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was Incurred, in the case of term debt, or first committed
or first Incurred (whichever yields the lower U.S. dollar equivalent), in the case of revolving credit debt. However, if the Indebtedness is Incurred to refinance other Indebtedness denominated in a foreign currency, and the refinancing would cause
the applicable U.S. dollar-denominated restriction to be exceeded if calculated at the relevant currency exchange rate in effect on the date of the refinancing, the U.S. dollar-denominated restriction will be deemed not to have been exceeded so long
as the principal amount of the refinancing Indebtedness does not exceed the principal amount of the Indebtedness being refinanced. 

Notwithstanding any other provision of this Section 4.03, the maximum amount of Indebtedness that the Issuer and its Restricted
Subsidiaries may Incur pursuant to this Section 4.03 shall not be deemed to be exceeded, with respect to any outstanding Indebtedness, solely as a result of fluctuations in the exchange rate of currencies. The principal amount of any
Indebtedness Incurred to refinance other Indebtedness, if Incurred in a different currency from the Indebtedness being refinanced, will be calculated based on the currency exchange rate applicable to the currencies in which the respective
Indebtedness is denominated that is in effect on the date of the refinancing. 

  
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 SECTION 4.04    Limitation on Restricted Payments. 

(a)    The Issuer shall not, and shall not permit any of the Restricted Subsidiaries to, directly or indirectly: 

(i)    declare or pay any dividend or make any distribution on account of any of the Issuer’s or any
of the Restricted Subsidiaries’ Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Issuer (other than (A) dividends or distributions payable solely in Equity Interests
(other than Disqualified Stock) of the Issuer or (B) dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of Equity Interests issued by a
Restricted Subsidiary that is not a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of
Equity Interests); 
 (ii)    purchase or otherwise acquire or retire for value any Equity Interests of
the Issuer or any direct or indirect parent of the Issuer; 
 (iii)    make any principal payment on, or
redeem, repurchase, defease or otherwise acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Issuer or any Subsidiary Guarantor (other than the payment, redemption,
repurchase, defeasance, acquisition or retirement of (A) Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment,
redemption, repurchase, defeasance, acquisition or retirement and (B) Indebtedness permitted under clauses (vii) and (ix) of Section 4.03(b)); or 

(iv)    make any Restricted Investment 

(all such payments and other actions set forth in clauses (i) through (iv) above being collectively referred to as “Restricted
Payments”), unless, at the time of such Restricted Payment: 
 (1)    no Event of Default shall
have occurred and be continuing or would occur as a consequence thereof; 
 (2)    immediately after
giving effect to such transaction on a pro forma basis, the Issuer could Incur $1.00 of additional Indebtedness under Section 4.03(a); and 

(3)    such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by
the Issuer and the Restricted Subsidiaries after the Issue Date (including Restricted Payments permitted by clause (vi)(C) of Section 4.04(b), but excluding all other Restricted Payments permitted by Section 4.04(b)), is less than the
amount equal to the Cumulative Credit outstanding at such time. 

  
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 (b)    The provisions of Section 4.04(a) shall not
prohibit: 
 (i)    the payment of any dividend or distribution or the consummation of any redemption
within 60 days after the date of declaration thereof or the giving notice thereof, as applicable, if at the date of declaration or the giving notice of such redemption, as applicable, such payment would have complied with the provisions of this
Indenture; 
 (ii)    (A) the repayment, redemption, repurchase, retirement or other acquisition of any
Equity Interests (“Retired Capital Stock”) or Subordinated Indebtedness of the Issuer, any direct or indirect parent of the Issuer or any Subsidiary Guarantor in exchange for, or out of the proceeds of, the substantially concurrent
sale of, Equity Interests of the Issuer or any direct or indirect parent of the Issuer or contributions to the equity capital of the Issuer (other than any Disqualified Stock or any Equity Interests sold to a Subsidiary of the Issuer) (collectively,
including any such contributions, “Refunding Capital Stock”), 
 (B)    the declaration
and payment of dividends on the Retired Capital Stock out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Issuer) of Refunding Capital Stock, and 

(C)    if immediately prior to the retirement of Retired Capital Stock, the declaration and payment of
dividends thereon was permitted under clause (vi) of this Section 4.04(b) and not made pursuant to clause (ii)(B), the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of
which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent of the Issuer) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable
and payable on such Retired Capital Stock immediately prior to such retirement; 
 (iii)    the
redemption, repurchase, defeasance, or other acquisition or retirement of Subordinated Indebtedness of the Issuer or any Subsidiary Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, new Indebtedness of
the Issuer or a Subsidiary Guarantor which is Incurred in accordance with Section 4.03 so long as: 

(A)    the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the
principal amount (or accreted value, if applicable), plus any accrued and unpaid interest, of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired for value (plus the amount of any premium required to be
paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired, any tender premiums, plus any defeasance costs, fees and expenses incurred in connection therewith), 

(B)    such Indebtedness is subordinated to the Notes or the related Subsidiary Guarantee of such
Subsidiary Guarantor, as the case may be, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired for value, 

  
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 (C)    such Indebtedness has a final scheduled maturity date
equal to or later than the earlier of (x) the final scheduled maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired and (y) 91 days following the last maturity date of any Notes then
outstanding, 
 (D)    such Indebtedness has a Weighted Average Life to Maturity at the time Incurred
which is not less than the shorter of (x) the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y) the Weighted Average Life to Maturity that
would result if all payments of principal on the Subordinated Indebtedness being redeemed, repurchased, defeased, acquired or retired that were due on or after the date that is one year following the last maturity date of any Notes then outstanding
were instead due on such date; and 
 (E)    if the Subordinated Indebtedness to be refinanced is
secured, the Liens securing such new Subordinated Indebtedness have a Lien priority on the Collateral equal to or junior to the Liens securing the Indebtedness being refinanced; 

(iv)    a Restricted Payment to pay for the repurchase, redemption, retirement or other acquisition for
value of Equity Interests of the Issuer or any direct or indirect parent of the Issuer held by any future, present or former employee, director, officer or consultant of the Issuer or any direct or indirect parent of the Issuer or any Subsidiary of
the Issuer pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement; provided, however, that the aggregate Restricted Payments made under this clause
(iv) do not exceed $7.5 million in any calendar year; provided, further, however, that such amount in any calendar year may be increased by an amount not to exceed: 

(A)    the cash proceeds received by the Issuer or any of the Restricted Subsidiaries from the sale of
Equity Interests (other than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to employees, directors, officers or consultants of the Issuer and the Restricted Subsidiaries or
any direct or indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend will not increase the amount available
for Restricted Payments under clause (3) of the definition of Cumulative Credit), plus 

(B)    the cash proceeds of key man life insurance policies received by the Issuer or any direct or
indirect parent of the Issuer (to the extent contributed to the Issuer) or the Restricted Subsidiaries after the Issue Date; 

  
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 provided, that the Issuer may elect to apply all or any portion of the aggregate increase
contemplated by clauses (A) and (B) above in any calendar year; and provided, further, that cancellation of Indebtedness owing to the Issuer or any Restricted Subsidiary from any present or former employees, directors, officers or
consultants of the Issuer, any Restricted Subsidiary or any direct or indirect parent of the Issuer in connection with a repurchase of Equity Interests of the Issuer or any direct or indirect parent of the Issuer will not be deemed to constitute a
Restricted Payment for purposes of this Section 4.04; 
 (v)    the declaration and payment of
dividends or distributions to holders of any class or series of Disqualified Stock of the Issuer or any Restricted Subsidiary issued or Incurred in accordance with Section 4.03; 

(vi)    (A) the declaration and payment of dividends or distributions to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; 
 (B)    a
Restricted Payment to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of any direct or
indirect parent of the Issuer issued after the Issue Date; provided that the aggregate amount of dividends declared and paid pursuant to this clause (B) does not exceed the net cash proceeds actually received by the Issuer from any
such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; and 

(C)    the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in
excess of the dividends declarable and payable thereon pursuant to Section 4.04(b)(ii); 
 provided, however, in the case
of each of clauses (A) and (C) above of this clause (vi), that for the most recently ended four full fiscal quarters for which financial statements have been delivered to the Trustee immediately preceding the date of issuance of such Designated
Preferred Stock, after giving effect to such issuance (and the payment of dividends or distributions and treating such Designated Preferred Stock as Indebtedness for borrowed money for such purpose) on a pro forma basis (including a pro
forma application of the net proceeds therefrom), the Issuer would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00; 

(vii)    Investments in joint ventures or Unrestricted Subsidiaries having an aggregate Fair Market Value
(as determined in good faith by the Issuer), taken together with all other Investments made pursuant to this clause (vii) that are at that time outstanding, not to exceed the sum of (a) the greater of $50.0 million and 5.0% of
Consolidated Total Assets and (b) an amount equal to any returns (including dividends, interest, distributions, returns of principal, profits on sale, repayments, income and similar amounts) actually received in respect of any such Investment
(with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided, however, that if any Investment 

  
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pursuant to this clause (vii) is made in any Person that is not the Issuer or a Restricted Subsidiary at the date of the making of such Investment and such Person becomes the Issuer or a
Restricted Subsidiary after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) of the definition of Permitted Investments and shall cease to have been made pursuant to this clause (vii) for
so long as such Person continues to be the Issuer or a Restricted Subsidiary; 
 (viii)    Restricted
Payments (or a Restricted Payment to any such direct or indirect parent of the Issuer to fund the payment by such direct or indirect parent of the Issuer of Restricted Payments) of up to $15.0 million per annum for the payment of dividends on
account of, or repurchases of, Equity Interests; 
 (ix)    Restricted Payments that are made with (or in
an aggregate amount that does not exceed the aggregate amount of) Excluded Contributions; 

(x)    Restricted Payments in an aggregate amount, when taken together with all other Restricted Payments
made pursuant to this clause (x) that are at that time outstanding, not to exceed $40.0 million; 

(xi)    the distribution, as a dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed
to the Issuer or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than any Unrestricted Subsidiary whose principal assets consist of cash and Cash Equivalents to the extent such cash and Cash Equivalents were invested in such
Unrestricted Subsidiary pursuant to an Investment made pursuant to clause (vii) above or a Permitted Investment); 

(xii)    [Reserved;] 

(xiii)    [Reserved;] 

(xiv)    repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such
Equity Interests represent a portion of the exercise price of such options or warrants; 
 (xv)    any
consideration, payment, dividend, distribution or other transfer in connection with a Permitted Securitization Financing; 

(xvi)    Restricted Payments by the Issuer or any Restricted Subsidiary to allow the payment of cash in
lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Equity Interests of any such Person; 

(xvii)    the repurchase, redemption or other acquisition or retirement for value of any Preferred Stock or
any Subordinated Indebtedness pursuant to provisions similar to those described in Section 4.06 and Section 4.08; provided that all Notes tendered by holders of the Notes in connection with a Change of Control Offer or Asset Sale
Offer, as applicable, have been repurchased, redeemed or acquired for value; 

  
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 (xviii)    payments or distributions to dissenting
stockholders or stockholders exercising appraisal rights pursuant to applicable law or as a result of the settlement of any stockholder claims or action (whether actual, contingent or potential), pursuant to or in connection with a consolidation,
amalgamation, merger or transfer of all or substantially all of the assets of the Issuer and the Restricted Subsidiaries, taken as a whole, that complies with Section 5.01; provided that as a result of such consolidation, amalgamation,
merger or transfer of assets referred to in clause (xviii), the Issuer shall have made a Change of Control Offer (if required by this Indenture) and that all Notes tendered by holders in connection with such Change of Control Offer have been
repurchased, redeemed or acquired for value; 
 (xix)    any Restricted Payment made in connection with
the Transactions and the payment of fees and expenses Incurred in connection with the Transactions, or owed by the Issuer or Restricted Subsidiaries of the Issuer to Affiliates, whether payable on the Issue Date or thereafter, in each case to the
extent permitted or not prohibited by Section 4.07; and 
 (xx)    any Restricted Payment so long
as, immediately after giving effect to such Restricted Payment, the Total Indebtedness Leverage Ratio for the most recently ended four fiscal quarters for which financial statements have been delivered to the Trustee immediately preceding such
Restricted Payment is not greater than 1.50 to 1.00 on a pro forma basis; 
 provided, however, that at the time of,
and after giving effect to, any Restricted Payment permitted under clauses (vi)(B), (vii), (viii), (x), and (xx) of this Section 4.04(b), no Event of Default shall have occurred and be continuing or would occur as a consequence thereof;
provided, further, that any Restricted Payments made with property other than cash shall be calculated using the Fair Market Value (as determined in good faith by the Issuer) of such property. 

Notwithstanding the foregoing, prior to declaring or making any Restricted Payment in reliance on the definition of Cumulative Credit or
Section 4.04(b)(xx), the Issuer shall commence an offer to repurchase (a “Restricted Payment Offer”) an aggregate principal amount of the Notes equal to the amount of the proposed Restricted Payment to be made in reliance on
the definition of Cumulative Credit or Section 4.04(b)(xx), as the case may be. Each Restricted Payment Offer shall be made at a price (expressed as a percentage of principal amount thereof) equal to 103%, plus accrued and unpaid interest, if
any, to, but excluding the date of purchase (subject to the right of holders of record on the relevant Record Date to receive interest due on an Interest Payment Date). Each holder will have the right to decline its pro rata portion of any
Restricted Payment Offer (the aggregate principal amount of Notes that decline, the “Declined Amounts”). Any Declined Amounts may be retained by the Issuer and used for any purpose not otherwise prohibited by this Indenture,
including the making of Restricted Payments, at any time or from time to time, in reliance on the definition of Cumulative Credit and Section 4.04(b)(xx) to the extent permitted thereunder. For the avoidance of doubt, no Restricted Payment
Offer will be required to be made with any Declined Amounts that are used, at any time or from time to time, to make a Restricted Payment in reliance on the definition of Cumulative Credit and Section 4.04(b)(xx). 

  
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 Example: If the Issuer proposes to declare or make a Restricted Payment equal to
$10.0 million in reliance on the definition of Cumulative Credit or under Section 4.04(b)(xx), prior to declaring or making such Restricted Payment the Issuer shall commence a Restricted Payment Offer to all holders on a pro rata basis to
repurchase an aggregate principal amount of notes of $10.0 million at a price (expressed as a percentage of principal amount thereof) equal to 103%, plus accrued and unpaid interest, if any, to, but excluding the date of purchase and,
(x) to the extent $10.0 million (or more) of notes are tendered and repurchased in such offer, upon commencement of such Restricted Payment Offer, the Issuer shall be permitted to make Restricted Payments up to $10.0 million, and
(y) to the extent $5.0 million of notes are tendered and repurchased (and $5.0 million become Declined Amounts), upon commencement of such Restricted Payment Offer, the Issuer shall be permitted to make Restricted Payments up to
$10.0 million and upon such repurchase, the Issuer shall be permitted to make an additional $5.0 million of Restricted Payments from such Declined Amounts (subject to compliance with the requirements of the definition of Cumulative Credit
or Section 4.04(b)(xx)) and no Restricted Payment Offer will be required to be made with respect to Restricted Payments made from Declined Amounts. 

The Issuer will comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to a Restricted Payment Offer. To the extent that the provisions of any securities laws or regulations
conflict with the provisions of this Indenture, the Issuer will comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. 

If more Notes are tendered pursuant to a Restricted Payment Offer than the Issuer is required to purchase, selection of such Notes for
purchase will be made by the Issuer in compliance with the requirements of the principal national securities exchange, if any, on which such Notes are listed (and the Issuer shall notify the Trustee of any such listing), or if such Notes are not so
listed, on a pro rata basis to the extent practicable, by lot or by such other method as the Issuer deems appropriate (and in such manner as complies with the requirements of the Despository, if applicable); provided that no Notes of a
minimum of $2,000 or less shall be purchased in part. 
 Notices of a Restricted Payment Offer shall be mailed by the Issuer by first class
mail, postage prepaid, or delivered electronically if held at the Depository, at least 30 but not more than 60 days before the purchase date to each holder of Notes at such holder’s registered address, with a copy to the Trustee (which notice
shall include, among other things set forth in this Indenture, the amount of the Restricted Payment Offer and the amount of the proposed Restricted Payment in reliance on either of the definition of Cumulative Credit and Section 4.04(b)(xx)).
If any Note is to be purchased in part only, any notice of purchase that relates to such Note shall state the portion of the principal amount thereof that has been or is to be purchased. 

  
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 In connection with any Restricted Payment Offer, the Issuer shall mail to each holder’s
registered address, or deliver electronically if held by the Depository, with a copy to the Trustee a notice stating: 

(i)     that a Restricted Payment Offer is being made and the aggregate amount of Notes subject to such
Restricted Payment Offer and that such holder has the right to require the Issuer to repurchase a pro rata amount of such holder’s Notes at a repurchase price in cash equal to 103% of the principal amount thereof, plus accrued and unpaid
interest, if any, to, but excluding, the date of repurchase (subject to the right of holders of record on the relevant Record Date to receive interest on the relevant Interest Payment Date); 

(ii)    the circumstances and relevant facts about the proposed Restricted Payment necessitating the Issuer
to commence such Restricted Payment Offer; 
 (iii)    the repurchase date (which shall be no earlier
than 30 days nor later than 60 days from the date such notice is mailed or delivered electronically); and 

(iv)    the instructions determined by the Issuer, that a holder must follow in order to have its Notes
purchased. 
 Holders electing to have a Note purchased shall be required to surrender the Note, with an appropriate form duly completed, to
the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior to
the purchase date a facsimile transmission or letter setting forth the name of the holder, the principal amount of the Note which was delivered for purchase by the holder and a statement that such holder is withdrawing his election to have such Note
purchased. Holders whose Notes are purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered. 

On the purchase date, all Notes purchased by the Issuer under this Section 4.04 shall be or caused to be delivered to the Trustee for
cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest, if any, to the holders entitled thereto. 

Notes repurchased by the Issuer pursuant to a Restricted Payment Offer will have the status of Notes issued but not outstanding or will be
retired and canceled at the option of the Issuer. 
 At the time the Issuer delivers or causes to be delivered Notes to the Trustee which
are to be accepted for purchase, the Issuer shall also deliver an Officer’s Certificate stating that such Notes are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section 4.04. A Note shall be deemed
to have been accepted for purchase at the time the Issuer, directly or through an agent (which may be the Trustee), mails or delivers payment therefor to the surrendering holder. 

Prior to any Restricted Payment Offer, the Issuer shall deliver to the Trustee an Officer’s Certificate stating that all conditions
precedent contained herein to the right of the Issuer to make such offer have been complied with. 
 (c)    For purposes
of determining compliance with this Section 4.04, (i) a Restricted Payment or Permitted Investment need not be permitted solely by reference to one 

  
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category of permitted Restricted Payments (or any portion thereof) or Permitted Investments (or any portion thereof) described in the above clauses or the definitions thereof but may be permitted
in part under any combination thereof and (ii) in the event that a Restricted Payment (or any portion thereof) or Permitted Investment (or any portion thereof) meets the criteria of one or more of the categories of permitted Restricted Payments
(or any portion thereof) or Permitted Investments (or any portion thereof) described in the above clauses or the definitions thereof, the Issuer may, in its sole discretion, divide, classify or reclassify, or later divide, classify or reclassify,
such permitted Restricted Payment (or any portion thereof) or Permitted Investment (or any portion thereof) in any manner that complies with this Section 4.04 and at the time of division, classification or reclassification will be entitled to
only include the amount and type of such Restricted Payment (or any portion thereof) or Permitted Investment (or any portion thereof) in one of the categories of permitted Restricted Payments (or any portion thereof) or Permitted Investments (or any
portion thereof) described in the above clauses or the definitions thereof. In the event that a Restricted Payment (or any portion thereof) or Permitted Investment (or any portion thereof) is divided, classified or reclassified under clause
(xx) above or clause (26) of the definition of Permitted Investments (such clauses, the “Incurrence Clauses”), the determination of the amount of such Restricted Payment or Permitted Investment that may be made pursuant to
the Incurrence Clauses shall be made without giving pro forma effect to any substantially concurrent Incurrence of Indebtedness to finance any other Restricted Payment (or any portion thereof) or Permitted Investment (or any portion thereof)
divided, classified or reclassified under any of the above clauses or the definitions thereof other than an Incurrence Clause. 

(d)    In connection with any commitment, definitive agreement or similar event relating to an Investment, the Issuer or
applicable Restricted Subsidiary may designate such Investment as having occurred on the date of the commitment, definitive agreement or similar event relating thereto (such date, the “Election Date”) if, after giving pro forma
effect to such Investment and all related transactions in connection therewith and any related pro forma adjustments, the Issuer or any of its Restricted Subsidiaries would have been permitted to make such Investment on the relevant Election Date in
compliance with this Indenture, and any related subsequent actual making of such Investment will be deemed for all purposes under this Indenture to have been made on such Election Date, including, without limitation, for purposes of calculating any
ratio, compliance with any test, usage of any baskets hereunder (if applicable) and EBITDA and for purposes of determining whether there exists any Default or Event of Default (and all such calculations on and after the Election Date until the
termination, expiration, passing, rescission, retraction or rescindment of such commitment, definitive agreement or similar event shall be made on a pro forma basis giving effect thereto and all related transactions in connection therewith). 

(e)    The Issuer will not permit any Restricted Subsidiary to become an Unrestricted Subsidiary except pursuant to the
definition of Unrestricted Subsidiary. For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and the Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so
designated on such date of designation will be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of Investments. Such designation will only be permitted if a Restricted Payment or Permitted
Investment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. 

  
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 SECTION 4.05    Dividend and Other Payment Restrictions Affecting
Subsidiaries. The Issuer shall not, and shall not permit any of the Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the
ability of any Restricted Subsidiary to: 
 (a)    (i) pay dividends or make any other distributions to the Issuer
or any Restricted Subsidiary (1) on its Capital Stock or (2) with respect to any other interest or participation in, or measured by, its profits; or (ii) pay any Indebtedness owed to the Issuer or any Restricted Subsidiary; 

(b)    make loans or advances to the Issuer or any Restricted Subsidiary; or 

(c)    sell, lease or transfer any of its properties or assets to the Issuer or any Restricted Subsidiary; 

except in each case for such encumbrances or restrictions existing under or by reason of: 

(1)    (A) contractual encumbrances or restrictions in effect on the Issue Date, and (B) contractual
encumbrances or restrictions pursuant to the Credit Agreement and the other ABL Lien Documents, and, in each case, and any similar contractual encumbrances or restrictions or any amendments, modifications, restatements, renewals, supplements,
refundings, replacements or refinancings of such agreements or instruments not in contravention of the ABL Intercreditor Agreement. 

(2)    this Indenture, the Notes, the Security Documents or the Subsidiary Guarantees and, in each case,
and any similar contractual encumbrances or restrictions or any amendments, modifications, restatements, renewals, supplements, refundings, replacements or refinancings of such agreements or instruments; 

(3)    applicable law or any applicable rule, regulation or order; 

(4)    any agreement or other instrument of a Person acquired by the Issuer or any Restricted Subsidiary
which was in existence at the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or restriction is not
applicable to any Person, or the properties or assets of any Person, other than the Person and its Subsidiaries, or the property or assets of the Person and its Subsidiaries, so acquired; 

(5)    contracts or agreements for the sale of assets, including any restriction with respect to a
Restricted Subsidiary imposed pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; 

  
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 (6)    Secured Indebtedness otherwise permitted to be
Incurred pursuant to Section 4.03 and Section 4.12 that limit the right of the debtor to dispose of the assets securing such Indebtedness; 

(7)    restrictions on cash or other deposits or net worth imposed by suppliers, customers or landlords
under contracts entered into in the ordinary course of business or consistent with past practice or industry norm or arising in connection with any Permitted Liens; 

(8)    customary provisions in joint venture agreements and other similar agreements entered into in the
ordinary course of business or consistent with past practice or industry norm; 
 (9)    purchase money
obligations for property acquired and Capitalized Lease Obligations, operating leases and Mining Leases in the ordinary course of business that impose encumbrances or restrictions of the nature discussed in Section 4.05(c) above on the property
so acquired; 
 (10)    customary provisions contained in leases, licenses and other similar agreements
entered into in the ordinary course of business or consistent with past practice or industry norm; 

(11)    in the case of Section 4.05(c) above, any encumbrance or restriction that restricts in a
customary manner the subletting, assignment or transfer of any property or asset that is subject to a lease, license or similar contract, or the assignment or transfer of any such lease, license (including without limitation, licenses of
intellectual property) or other contracts; 
 (12)    any encumbrances or restrictions contained in any
Permitted Securitization Document with respect to any Special Purpose Securitization Subsidiary; 

(13)    other Indebtedness, Disqualified Stock or Preferred Stock (A) of the Issuer or any Restricted
Subsidiary that is a Subsidiary Guarantor or a Foreign Subsidiary or (B) of any Restricted Subsidiary that is not a Subsidiary Guarantor or a Foreign Subsidiary so long as such encumbrances and restrictions contained in any agreement or
instrument will not materially adversely affect the Issuer’s ability to make anticipated principal or interest payments on the Notes (as determined in good faith by the Issuer); provided that in the case of each of clauses (A) and
(B), such Indebtedness, Disqualified Stock or Preferred Stock is permitted to be Incurred subsequent to the Issue Date pursuant to Section 4.03; 

(14)    any Restricted Investment not prohibited by Section 4.04 and any Permitted Investment; or 

(15)    any encumbrances or restrictions of the type referred to in Section 4.05(a), (b) or
(c) above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1) through (14) above;
provided that such amendments, modifications, restatements, renewals, increases, supplements, 

  
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refundings, replacements or refinancings are, in the good faith judgment of the Issuer, not materially more restrictive with respect to such dividend and other payment restrictions than those
contained in the dividend or other payment restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. 

For purposes of determining compliance with this Section 4.05, (i) the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii) the subordination of loans or advances made to
the Issuer or a Restricted Subsidiary to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. 

SECTION 4.06    Asset Sales. 

(a)    The Issuer shall not, and shall not permit any of the Restricted Subsidiaries to, cause or make an Asset Sale,
unless (x) the Issuer or any Restricted Subsidiary, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the assets sold or otherwise
disposed of and (y) at least 75% of the consideration for such Asset Sale received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of Cash Equivalents; provided that the amount of: 

(i)    any liabilities (as shown on the Issuer’s or a Restricted Subsidiary’s most recent balance
sheet or in the notes thereto) of the Issuer or a Restricted Subsidiary (other than liabilities that are by their terms subordinated to the Notes or any Subsidiary Guarantee) that are assumed by the transferee of any such assets or that are
otherwise cancelled or terminated in connection with the transaction with such transferee, 
 (ii)    any
notes or other obligations or other securities or assets received by the Issuer or such Restricted Subsidiary from such transferee that are converted by the Issuer or such Restricted Subsidiary into cash within 180 days of the receipt thereof (to
the extent of the cash received), 
 (iii)    Indebtedness of any Restricted Subsidiary that is no longer
a Restricted Subsidiary as a result of such Asset Sale, to the extent that the Issuer and each other Restricted Subsidiary are released from any guarantee of payment of such Indebtedness in connection with the Asset Sale, 

(iv)    consideration consisting of Indebtedness of the Issuer or a Restricted Subsidiary (other than
Subordinated Indebtedness) received after the Issue Date from Persons who are not the Issuer or any Restricted Subsidiary, and 

(v)    any Designated Non-cash Consideration received by the Issuer
or any Restricted Subsidiary in such Asset Sale having an aggregate Fair Market Value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration received
pursuant to this Section 4.06(a)(v) that is at that time 

  
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outstanding, not to exceed the greater of $25.0 million and 2.5% of Consolidated Total Assets (with the Fair Market Value of each item of Designated
Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value), 

shall in each case be deemed to be Cash Equivalents for the purposes of this Section 4.06(a). 

(b)    Within 365 days after the Issuer’s or any Restricted Subsidiary’s receipt of the Net Proceeds of any
Asset Sale, the Issuer or such Restricted Subsidiary may apply the Net Proceeds from such Asset Sale, at its option: 

(i)    to permanently prepay, repay, redeem, reduce or repurchase Indebtedness as follows: 

(A)    if the assets subject to such Asset Sale constitute ABL Priority Collateral, to prepay, repay,
redeem, reduce or purchase ABL Lien Obligations (which repayment need not be permanent); 
 (B)    if the
assets subject to such Asset Sale constitute Notes Priority Collateral, to prepay, repay, redeem, reduce or purchase other Priority Lien Obligations on a pro rata basis with the Obligations under the Notes; 

(C)    if the assets subject to such Asset Sale do not constitute Collateral, to prepay, repay, redeem,
reduce or purchase Obligations under Indebtedness that does not constitute ABL Lien Obligations or Priority Lien Obligations of the Issuer or a Subsidiary Guarantor (and, if the Indebtedness prepaid, repaid, redeemed, reduced or purchased is
revolving credit Indebtedness, to correspondingly reduce commitments with respect thereto); provided that the Issuer shall equally and ratably prepay, repay, redeem, reduce or purchase (or offer to prepay, repay, redeem, reduce or purchase,
as applicable) Obligations under the Notes (and may elect to reduce other Priority Lien Debt or ABL Debt (with a permanent commitment reduction) on a pro rata basis; or 

(D)    if the assets subject to such Asset Sale are the property or assets of a Non-Guarantor Restricted Subsidiary, to prepay, repay, redeem, reduce or purchase Indebtedness of such Non-Guarantor Restricted Subsidiary or Indebtedness of any other Non-Guarantor Restricted Subsidiary, other than Indebtedness owed to the Issuer or any Restricted Subsidiary; or 

(ii)    to make an investment in any one or more businesses (provided that if such investment is in
the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer or in an increase in the percentage ownership by the Issuer (or a Restricted Subsidiary) in such
Restricted Subsidiary), assets, or property or capital expenditures, in each case (A) used or useful in a Similar Business or (B) that replace the properties and assets that are the subject of such Asset Sale or, in each case, to reimburse
the cost of any of the foregoing incurred on or after the date on which the Asset Sale giving rise to such Net Proceeds was contractually committed; provided, that (i) to the extent the assets subject to such Asset

  
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Sale constitute Notes Priority Collateral, such businesses, assets or property shall be pledged as Collateral, and (ii) to the extent the assets subject to such Asset Sale constitute ABL
Priority Collateral, such businesses, assets or property shall be pledged as Collateral, in each case as set forth under Section 13.08 with the Lien on such Collateral securing the Notes being of the same priority with respect to the Notes as
the Lien on the assets subject to the Asset Sale. 
 In the case of Section 4.06(b)(ii), a binding commitment shall be treated as a
permitted application of the Net Proceeds from the date of such commitment so long as the Issuer or such Restricted Subsidiary enters into such commitment with the good faith expectation that such Net Proceeds will be applied to satisfy such
commitment within 180 days of such commitment; provided that in the event such binding commitment is later canceled or terminated for any reason after the 365th day after the receipt of
such Net Proceeds but before such Net Proceeds are so applied, then such Net Proceeds shall constitute Excess Proceeds unless the Issuer or such Restricted Subsidiary enters into another binding commitment (a “Second Commitment”)
within 180 days of such cancellation or termination of the prior binding commitment; provided, further, that the Issuer or such Restricted Subsidiary may only enter into a Second Commitment under the foregoing provision one time with
respect to each Asset Sale and to the extent such Second Commitment is later cancelled or terminated for any reason before such Net Proceeds are applied or are not applied within 180 days of such Second Commitment, then such Net Proceeds shall
constitute Excess Proceeds. 
 Pending the final application of any such Net Proceeds, the Issuer or such Restricted Subsidiary may
temporarily reduce Indebtedness under a revolving credit facility or otherwise use such Net Proceeds in any manner not prohibited by this Indenture. If the Issuer has not applied any Net Proceeds from any Asset Sale as provided and within the time
period set forth in the two immediately preceding paragraphs of this Section 4.06(b), then, in lieu of applying such Net Proceeds in such manner, such Net Proceeds (it being understood that any portion of such Net Proceeds used to make an offer
to purchase Notes, as described in clause (i) of this Section 4.06(b), shall be deemed to have been so applied whether or not such offer is accepted) will be deemed to constitute “Excess Proceeds.” If the aggregate amount
of Excess Proceeds exceeds $15.0 million, the Issuer shall make an offer to all holders of the Notes (and, at the option of the Issuer, to holders of any other Priority Lien Obligations) (an “Asset Sale Offer”) to purchase the
maximum principal amount of Notes (and such other Priority Lien Obligations), that is at least $2,000 and an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal
to 100% of the principal amount thereof (or, in the event the Notes or such other Priority Lien Obligations were issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest, if any
(or, in respect of such other Priority Lien Obligations, such lesser price, if any, as may be provided for by the terms of such other Priority Lien Obligations), to, but excluding, the date fixed for the closing of such offer, in accordance with the
procedures set forth in this Section 4.06. The Issuer will commence an Asset Sale Offer with respect to Excess Proceeds within ten Business Days after the date that the aggregate amount of Excess Proceeds exceeds $15.0 million by mailing,
or delivering electronically if held by the Depository, the notice required pursuant to the terms of this Indenture, with a copy to the Trustee. The Issuer may, at its option, satisfy the foregoing obligations with respect to any Net Proceeds from
an Asset Sale by making an Asset Sale Offer with respect to such Net Proceeds 

  
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prior to the expiration of the relevant 365 days (or such longer period provided above) or with respect to Excess Proceeds of $15.0 million or less (it being understood that such Net
Proceeds used to make an Asset Sale Offer shall satisfy the foregoing obligations with respect to Net Proceeds whether or not such offer is accepted). To the extent that the aggregate amount of Priority Lien Obligations tendered pursuant to an Asset
Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for any purpose that is not prohibited by this Indenture and shall not be required to use them for any other purpose. If the aggregate principal amount of
Priority Lien Obligations surrendered by holders thereof exceeds the amount of Excess Proceeds, the Issuer shall select the Notes to be purchased in the manner described in Section 4.06(e). Upon completion of any such Asset Sale Offer, the
amount of Excess Proceeds shall be reset at zero (regardless of whether there are any remaining Excess Proceeds upon such completion). 

(c)    The Issuer will comply with the requirements of Rule 14e-1 under the
Exchange Act and any other securities laws and regulations to the extent such laws or regulations are applicable in connection with the repurchase of the Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws
or regulations conflict with the provisions of this Indenture, the Issuer will comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. 

(d)    Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided
above, the Issuer shall deliver to the Trustee an Officer’s Certificate as to (i) the amount of the Excess Proceeds, (ii) the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made
and (iii) the compliance of such allocation with the provisions of Section 4.06(b). On the Asset Sale Offer purchase date, the Issuer shall irrevocably deposit with the Trustee or with the applicable Paying Agent (or, if the Issuer or a
Subsidiary is acting as the Paying Agent, segregate and hold in trust) an amount equal to the Asset Sale Offer purchase price to be paid in accordance with the provisions of this Section 4.06. Upon the expiration of the period for which the
Asset Sale Offer remains open (the “Offer Period”), the Issuer shall deliver or cause to be delivered to the Trustee for cancellation the Notes or portions thereof that have been properly tendered to and are to be accepted by the
Issuer. The Trustee (or the Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering holder in the amount of the purchase price. In the event that the Asset Sale Offer purchase price delivered by
the Issuer to the Trustee or the applicable tender agent are greater than the purchase price of the Notes tendered, the Trustee or the applicable tender agent shall deliver the excess to the Issuer immediately after the expiration of the Offer
Period for application in accordance with this Section 4.06. 
 (e)    Holders electing to have a Note purchased
shall be required to surrender such Note, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if
the Trustee or the Issuer receives not later than one Business Day prior to the purchase date, a facsimile transmission or letter setting forth the name of the holder, the principal amount of the Note which was delivered by the holder for purchase
and a statement that such holder is withdrawing his election to have such Note purchased. If at the end of the Offer Period more Priority Lien Obligations are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase,
selection of such Priority Lien Obligations for purchase shall be 

  
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made by the Issuer in compliance with the requirements of the principal national securities exchange, if any, on which such Notes are listed (and the Issuer shall notify the Trustee of any such
listing), or if such Notes are not so listed, on a pro rata basis to the extent practicable, by lot or by such other method as the Issuer deems appropriate (and in such manner as complies with the requirements of the Depository, if applicable);
provided that no Notes of a minimum of $2,000 or less shall be purchased in part. Selection of such other Priority Lien Obligations (other than the Notes) shall be made pursuant to the terms of such other Priority Lien Obligations. 

(f)    Notices of an Asset Sale Offer shall be mailed by the Issuer by first class mail, postage prepaid, or delivered
electronically if held by the Depository, at least 30 but not more than 60 days before the purchase date to each holder of Notes at such holder’s registered address, with a copy to the Trustee. If any Note is to be purchased in part only, any
notice of purchase that relates to such Note shall state the portion of the principal amount thereof that has been or is to be purchased. 

SECTION 4.07    Transactions with Affiliates. 

(a)    The Issuer shall not, and shall not permit any of the Restricted Subsidiaries to, directly or indirectly, make any
payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions, contract, agreement, understanding,
loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an “Affiliate Transaction”) involving aggregate consideration in excess of $10.0 million, unless: 

(i)    such Affiliate Transaction is on terms that are not materially less favorable, when taken as a
whole, to the Issuer or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person; and 

(ii)    with respect to any Affiliate Transaction or series of related Affiliate Transactions involving
aggregate consideration in excess of $25.0 million, the Issuer delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Issuer, approving such Affiliate Transaction and set forth in an
Officer’s Certificate certifying that such Affiliate Transaction complies with clause (i) above. 
 (b)    The
provisions of Section 4.07(a) shall not apply to the following: 
 (i)    transactions between or
among the Issuer and/or any of the Restricted Subsidiaries (or an entity that becomes a Restricted Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Issuer and any direct parent of the Issuer;
provided that such parent shall have no material liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger, consolidation or amalgamation is otherwise in compliance with the terms
of this Indenture and effected for a bona fide business purpose; 
 (ii)    Restricted Payments permitted
by Section 4.04 and Permitted Investments; 

  
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 (iii)    the payment of reasonable and customary fees and
compensation and reimbursement of expenses paid to, and indemnity and employment and severance arrangements provided on behalf of or for the benefit of, officers, directors, employees or consultants of the Issuer, any Restricted Subsidiary, or any
direct or indirect parent of the Issuer; 
 (iv)    transactions in which the Issuer or any Restricted
Subsidiary, as the case may be, delivers to the Trustee a letter from an Independent Financial Advisor stating that such transaction is fair, when taken as a whole, to the Issuer or such Restricted Subsidiary from a financial point of view or meets
the requirements of clause (i) of Section 4.07(a); 
 (v)    payments or loans (or cancellation
of loans) to officers, directors, employees or consultants which are approved by a majority of the Board of Directors of the Issuer in good faith; 

(vi)    any agreement as in effect as of the Issue Date or any amendment thereto (so long as any such
agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the holders of the Notes in any material respect than the original agreement as in effect on the Issue Date, as determined in good faith by the Issuer)
or any transaction contemplated thereby; 
 (vii)    the existence of, or the performance by the Issuer
or any Restricted Subsidiary of its obligations under the terms of, any stockholders or other agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Issue Date, and any
transaction, agreement or arrangement described in the Offering Circular and, in each case, any amendment thereto or similar transactions, agreements or arrangements which it may enter into thereafter; provided, however, that the
existence of, or the performance by the Issuer or any Restricted Subsidiary of its obligations under, any future amendment to any such existing transaction, agreement or arrangement or under any similar transaction, agreement or arrangement entered
into after the Issue Date shall only be permitted by this clause (vii) to the extent that the terms of any such existing transaction, agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement
or arrangement are not otherwise materially more disadvantageous to the holders of the Notes than the original transaction, agreement or arrangement as in effect on the Issue Date or described in the Offering Circular, as determined in good faith by
the Issuer; 
 (viii)    the execution of the Transactions, and the payment of all fees, expenses,
discounts and commissions related to the Transactions; 
 (ix)    (A) transactions with customers,
clients, suppliers or purchasers or sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business or consistent with past practice or industry norm and
otherwise in compliance with the terms of this Indenture, which are fair to the Issuer and the Restricted Subsidiaries in the reasonable determination of the Board of Directors or the senior management of the Issuer, or are on terms at least as

  
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favorable as might reasonably have been obtained at such time from an unaffiliated party or (B) transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary
course of business or consistent with past practice or industry norm; 
 (x)    any transaction pursuant
to any Permitted Securitization Financing; 
 (xi)    the issuance or transfer of Equity Interests (other
than Disqualified Stock) of the Issuer to any Person; 
 (xii)    the issuances of securities or other
payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Issuer or any
direct or indirect parent of the Issuer or of a Restricted Subsidiary, as appropriate, in good faith; 

(xiii)    [Reserved;] 

(xiv)    any contribution to the capital of the Issuer; 

(xv)    transactions permitted by, and complying with, Section 5.01; 

(xvi)    transactions between the Issuer or any Restricted Subsidiary and any Person, a director of which
is also a director of the Issuer or any direct or indirect parent of the Issuer; provided, however, that such director abstains from voting as a director of the Issuer or such direct or indirect parent, as the case may be, on any
matter involving such other Person; 
 (xvii)    pledges of Equity Interests of Unrestricted
Subsidiaries; 
 (xviii)    the formation and maintenance of any consolidated group or subgroup for tax,
accounting or cash pooling or management purposes in the ordinary course of business; 
 (xix)    any
employment agreements entered into by the Issuer or any Restricted Subsidiary in the ordinary course of business; 

(xx)    [Reserved;] 

(xxi)    payments by the Issuer or any of its Restricted Subsidiaries to any of the Sponsors made for any
financial advisory, financing, underwriting or placement services or in respect of other investment banking activities, including in connection with acquisitions or divestitures, which payments are approved by a majority of the Board of Directors of
the Issuer in good faith; 
 (xxii)    transactions undertaken in good faith (as certified by a
responsible financial or accounting officer of the Issuer in an Officer’s Certificate) for the purpose of improving the consolidated tax efficiency of the Issuer and its Subsidiaries and not for the purpose of circumventing any covenant set
forth in this Indenture or the Security Documents; and 

  
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 (xxiii)    investments by the Sponsors in securities of the
Issuer or any Restricted Subsidiary (and payment of reasonable out-of-pocket expenses incurred by the Sponsors in connection therewith) so long as (i) the
investment is being generally offered to other investors on the same or more favorable terms and (ii) the investment constitutes less than 5% of the proposed or outstanding issue amount of such class of securities. 

(c)    Notwithstanding Section 4.07(a), (i) any portfolio company that is an Affiliate of the Sponsors (regardless of
whether such Sponsor is itself an Affiliate) shall not be considered an Affiliate of the Issuer or its Subsidiaries with respect to any transaction, so long as such transaction is in the ordinary course of business and (ii) no Sponsor shall be
considered an Affiliate of the Issuer or its Subsidiaries with respect to any transaction unless such Sponsor meets the definition of Affiliate. 

SECTION 4.08    Change of Control. 

(a)    Upon the occurrence of a Change of Control, each holder shall have the right to require the Issuer to repurchase all
or any part of such holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase (subject to the right of holders of record
on the relevant Record Date to receive interest due on the relevant Interest Payment Date), in accordance with the terms contemplated in this Section 4.08, except to the extent the Issuer has previously or concurrently elected to redeem such
Notes in accordance with Article III of this Indenture. In the event that at the time of such Change of Control, the terms of the Credit Agreement or other ABL Debt or Priority Lien Debt restrict or prohibit the repurchase of Notes pursuant to
this Section 4.08, then within 30 days following any Change of Control, the Issuer shall: (i) repay in full the Credit Agreement or other ABL Debt or Priority Lien Debt or, if doing so will allow the purchase of Notes, offer to repay in
full the Credit Agreement or other ABL Debt or Priority Lien Debt and repay the Credit Agreement or other ABL Debt or Priority Lien Debt of each lender and/or noteholder who has accepted such offer; or (ii) obtain the requisite consent under
the agreements governing the Credit Agreement or other ABL Debt or Priority Lien Debt to permit the repurchase of the Notes as provided for in Section 4.08(b). 

(b)    Within 30 days following any Change of Control, except to the extent that the Issuer has exercised its right to
redeem the Notes by delivery of a notice of redemption in accordance with Article III of this Indenture, the Issuer shall mail to each holder’s registered address, or deliver electronically if held by the Depository, with a copy to the
Trustee a notice (a “Change of Control Offer”) stating: 
 (i)    that a Change of
Control has occurred and that such holder has the right to require the Issuer to repurchase such holder’s Notes at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to,
but excluding, the date of repurchase (subject to the right of holders of record on the relevant Record Date to receive interest on the relevant Interest Payment Date); 

  
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 (ii)    the circumstances and relevant facts and financial
information regarding such Change of Control; 
 (iii)    the repurchase date (which shall be no earlier
than 30 days nor later than 60 days from the date such notice is mailed or delivered electronically), except in the case of a conditional Change of Control Offer made in advance of a Change of Control as described below (in which case the expected
repurchase date will be stated and may be based on a date relative to the closing of the transaction that is expected to result in the Change of Control and which may be tolled until the closing of such transaction); and 

(iv)    the instructions determined by the Issuer, consistent with this Section 4.08, that a holder
must follow in order to have its Notes purchased. 
 (c)    Holders electing to have a Note purchased shall be required
to surrender the Note, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The holders shall be entitled to withdraw their election if the Trustee or
the Issuer receives not later than one Business Day prior to the purchase date a facsimile transmission or letter setting forth the name of the holder, the principal amount of the Note which was delivered for purchase by the holder and a statement
that such holder is withdrawing his election to have such Note purchased. Holders whose Notes are purchased only in part shall be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered. 

(d)    On the purchase date, all Notes purchased by the Issuer under this Section 4.08 shall be delivered to the
Trustee for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest, if any, to the holders entitled thereto. 

(e)    A Change of Control Offer may be made in advance of a Change of Control, and conditioned upon such Change of
Control, if a definitive agreement is in place for the Change of Control at the time of making of the Change of Control Offer. 

(f)    Notwithstanding the provisions of this Section 4.08, the Issuer shall not be required to make a Change of
Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Indenture applicable to a Change of Control Offer made by the
Issuer and purchases all Notes validly tendered and not withdrawn under such Change of Control Offer. 
 (g)    Notes
repurchased by the Issuer pursuant to a Change of Control Offer will have the status of Notes issued but not outstanding or will be retired and canceled at the option of the Issuer. Notes purchased by a third party pursuant to the preceding
clause (f) will have the status of Notes issued and outstanding. 
 (h)    At the time the Issuer delivers
Notes to the Trustee which are to be accepted for purchase, the Issuer shall also deliver an Officer’s Certificate stating that such Notes are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section 4.08.
A Note shall be deemed to have been accepted for purchase at the time the Issuer, directly or through an agent (which may be the Trustee), mails or delivers payment therefor to the surrendering holder. 

  
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 (i)    Prior to any Change of Control Offer, the Issuer shall deliver to the
Trustee an Officer’s Certificate stating that all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. 

(j)    The Issuer shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act
and any other securities laws or regulations in connection with the repurchase of Notes pursuant to this Section 4.08. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section 4.08,
the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section 4.08 by virtue thereof. 

(k)    If holders of not less than 90% in aggregate principal amount of the outstanding Notes validly tender and do not
withdraw such Notes in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of the Issuer as described above, purchases all of the Notes validly tendered and not withdrawn by such holders, the Issuer
or such third party will have the right, upon not less than 30 nor more than 60 days’ prior written notice to the holders (with a copy to the Trustee), given not more than 30 days following such purchase pursuant to the Change of Control Offer,
to redeem all Notes that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. Any such redemption shall be
effected pursuant to Article III. 
 SECTION 4.09    Compliance Certificate. The Issuer shall deliver
to the Trustee within 120 days after the end of each fiscal year of the Issuer, beginning with the fiscal year ending December 31, 2018, an Officer’s Certificate stating that in the course of the performance by the signer of his or
her duties as an Officer of the Issuer he or she would normally have knowledge of any Default and whether or not the signer knows of any Default that occurred during such period. If such Officer does, the certificate shall describe the Default, its
status and what action the Issuer is taking or proposes to take with respect thereto. Except with respect to receipt of payments of principal and interest on the Notes and any Default or Event of Default information contained in the Officer’s
Certificate delivered to it pursuant to this Section 4.09, the Trustee shall have no duty to review, ascertain or confirm the Issuer’s compliance with or the breach of any representation, warranty or covenant made in this Indenture. 

SECTION 4.10    Further Instruments and Acts. Upon request of the Trustee, the Issuer shall execute and
deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

SECTION 4.11    Future Subsidiary Guarantors. 

(a)    The Issuer shall cause (x) each Restricted Subsidiary that guarantees or becomes a borrower or issuer under any
ABL Debt, any Priority Lien Debt or any Junior Lien Debt or (y) each Restricted Subsidiary (other than an Excluded Subsidiary) that guarantees any other Indebtedness for borrowed money of the Issuer or any of the Subsidiary Guarantors, in

  
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 each case, to execute and deliver to the Trustee a supplemental indenture substantially in the form of
Exhibit C hereto pursuant to which such Restricted Subsidiary will guarantee the Issuer’s Obligations under the Notes and this Indenture. 

(b)    In the event that after the Issue Date, the Issuer is required to cause a Restricted Subsidiary to execute and
deliver to the Trustee a supplemental indenture and guarantee payment of the Notes pursuant to Section 4.11(a) above (such Restricted Subsidiary, a “New Subsidiary Guarantor”), the Issuer shall, and shall cause the New
Subsidiary Guarantor and each other Subsidiary Guarantor to take all such actions and execute and deliver, or cause to be executed and delivered, all such documents, instruments, agreements, amendments to the Security Documents, certificates,
mortgages, deeds of trust, financing statements and opinions (including joinders to the ABL Intercreditor Agreement, the Collateral Trust Agreement and the other Security Documents as are contemplated by the terms thereof) as are required by the
terms of the Security Documents to vest in the Priority Lien Collateral Trustee a perfected security interest in the Collateral owned by such New Subsidiary Guarantor, and thereupon all provisions of this Indenture relating to the Notes Priority
Collateral or the ABL Priority Collateral, as applicable, shall be deemed to relate to the Collateral of such New Subsidiary Guarantor to the same extent and with the same force and effect. 

(c)    In addition, upon the acquisition by the Issuer or any Subsidiary Guarantor of any After-Acquired Property or upon
any change, event or other happening pursuant to or as a result of which, any Excluded Asset no longer constitutes an Excluded Asset, the Issuer or such Subsidiary Guarantor shall execute and deliver such mortgages, deeds of trust, security
instruments, financing statements and certificates and opinions of counsel (of scope and substance substantially the same as the Issue Date opinions) as shall be reasonably necessary to vest in the Priority Lien Collateral Trustee a perfected
security interest in such After-Acquired Property and to have such After-Acquired Property added to the Notes Priority Collateral and the ABL Priority Collateral, as applicable, and thereupon all provisions of this Indenture relating to the Notes
Priority Collateral or the ABL Priority Collateral, as applicable, shall be deemed to relate to such After-Acquired Property to the same extent and with the same force and effect. 

SECTION 4.12    Liens. 

(a)    The Issuer shall not, and shall not permit any Restricted Subsidiary to, directly or indirectly, incur or permit to
exist any Lien securing Indebtedness on any Collateral of any nature whatsoever on any of its properties or assets, whether owned at the Issue Date or thereafter acquired, other than Permitted Liens. Subject to the foregoing, the Issuer will not,
and will not permit any Restricted Subsidiary to, create, incur or assume any Lien (other than Permitted Liens) securing Indebtedness, on any property or assets of the Issuer or any Restricted Subsidiary that is not Collateral, or any income or
profits therefrom, or assign or convey any right to receive income therefrom, unless: 
 (i)    in the
case of Liens securing Subordinated Indebtedness, the Notes and the Subsidiary Guarantees are secured by a Lien on such assets or properties that is senior in priority to such Liens until such time as such Subordinated Indebtedness is no longer
secured by such Liens; and 

  
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 (ii)    in all other cases, the Notes and the Subsidiary
Guarantees are equally and ratably secured until such time as such Obligations are no longer secured by such Liens. 

(b)    For purposes of determining compliance with this Section 4.12, (i) a Lien securing an item of
Indebtedness (or any portion thereof) need not be permitted solely by reference to one category of permitted Liens (or any portion thereof) described in the definition of Permitted Liens or pursuant to Section 4.12(a) but may be permitted in
part under any combination thereof and (ii) in the event that a Lien securing an item of Indebtedness (or any portion thereof) meets the criteria of one or more of the categories of permitted Liens (or any portion thereof) described in the
definition of Permitted Liens or pursuant to Section 4.12(a), the Issuer may, in its sole discretion, divide, classify or reclassify, or later divide, classify or reclassify (as if Incurred at such later time), such Lien securing such item of
Indebtedness (or any portion thereof) in any manner that complies with this Section 4.12 and at the time of Incurrence, division, classification or reclassification will be entitled to only include the amount and type of such Lien or such item
of Indebtedness secured by such Lien (or any portion thereof) in one of the categories of permitted Liens (or any portion thereof) described in the definition of Permitted Liens or pursuant to Section 4.12(a) and, in such event, such Lien
securing such item of Indebtedness (or any portion thereof) will be treated as being Incurred or existing pursuant to only such clause or clauses (or any portion thereof) or pursuant to Section 4.12(a) without giving pro forma effect to
such item (or any portion thereof) when calculating the amount of Liens or Indebtedness (or any portion thereof) that may be Incurred pursuant to any other clause or paragraph (or any portion thereof) at such time. In addition, with respect to any
revolving loan Indebtedness or commitment relating to the Incurrence of Indebtedness that is designated to be Incurred on any Deemed Date pursuant to Section 4.03(c)(3), any Lien that does or that shall secure such Indebtedness may also be
designated by the Issuer or any Restricted Subsidiary to be Incurred on such date and, in such event, any related subsequent actual Incurrence of such Lien shall be deemed for all purposes under this Indenture to be Incurred on such prior date,
including for purposes of calculating usage of any Permitted Lien until such time as the related Indebtedness is no longer deemed outstanding pursuant to Section 4.03(c)(3). 

(c)    With respect to any Lien securing Indebtedness that was permitted to secure such Indebtedness at the time of the
Incurrence of such Indebtedness, such Lien shall also be permitted to secure any Increased Amount of such Indebtedness. The “Increased Amount” of any Indebtedness shall mean any increase in the amount of such Indebtedness in
connection with any accrual of interest, the accretion of accreted value, the amortization of original issue discount or deferred financing costs, the payment of interest in the form of additional Indebtedness with the same terms or in the form of
common stock of the Issuer, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or deferred financing costs or liquidation preference and increases
in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies or increases in the value of property securing Indebtedness described in clause (3) of the definition of Indebtedness. 

  
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 SECTION 4.13    [Reserved]. 

SECTION 4.14    Maintenance of Office or Agency. 

(a)    The Issuer shall maintain an office or agency (which may be an office of the Trustee or an affiliate of the Trustee
or Registrar) where Notes may be surrendered for registration of transfer or for exchange. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the
Issuer shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations and surrenders may be made at the Corporate Trust Office of the Trustee as set forth in
Section 14.02. 
 (b)    The Issuer may also from time to time designate one or more other offices or agencies
where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; provided, however, that no such designation or rescission shall in any manner relieve the Issuer of its
obligation to maintain an office or agency for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

(c)    The Issuer hereby designates the Corporate Trust Office of the Trustee or its agent as such office or agency of the
Issuer in accordance with Section 2.04. 
 SECTION 4.15    Covenant Suspension. If on any date
following the Issue Date, (i) the Notes have Investment Grade Ratings from both Rating Agencies and (ii) no Default has occurred and is continuing under this Indenture, then, beginning on such date (the occurrence of the events described
in the foregoing clauses (i) and (ii) being collectively referred to as a “Covenant Suspension Event”), and subject to the provisions of the following paragraph, the Issuer and the Restricted Subsidiaries shall not be
subject to Sections 4.03, 4.04, 4.05, 4.06, 4.07, 4.11 and 5.01(a)(iv) (collectively the “Suspended Covenants”). 
 In
the event that the Issuer and its Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period of time as a result of the foregoing, and on any subsequent date (the “Reversion Date”) one or
both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries will thereafter again be subject to the Suspended
Covenants under this Indenture with respect to future events. 
 The Issuer shall provide the Trustee with written notice of each Covenant
Suspension Event or Reversion Date within five Business Days of the occurrence thereof. The Trustee shall have no duty to monitor or provide notice to the holders of the Notes or any other person of any such Covenant Suspension Event or Reversion
Date. 
 On each Reversion Date, all Indebtedness Incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension Period
will be classified as having been Incurred or issued pursuant to Sections 4.03(a) or (b) (to the extent such Indebtedness or Disqualified Stock or Preferred Stock would be permitted to be Incurred or issued thereunder as of the Reversion Date
and after giving effect to Indebtedness Incurred or issued prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or Disqualified Stock or Preferred Stock would not be so permitted to be Incurred or
issued pursuant to 

  
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Sections 4.03(a) or (b), such Indebtedness or Disqualified Stock or Preferred Stock will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under
Section 4.03(b)(iii). Calculations made after the Reversion Date of the amount available to be made as Restricted Payments under Section 4.04 will be made as though Section 4.04 had been in effect since the Issue Date and prior to,
but not during, the Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will not reduce the amount available to be made as Restricted Payments under Section 4.04(a). As described above, however, no Default or
Event of Default will be deemed to have occurred on the Reversion Date as a result of any actions taken by the Issuer or its Restricted Subsidiaries during the Suspension Period. Within 30 days of such Reversion Date, the Issuer must comply with the
terms of Section 4.11 and reinstate (i) any Subsidiary Guarantee released pursuant to Section 12.02(b)(vi) and (ii) the liens and security interests on any Collateral released as a result of the release of such Subsidiary
Guarantee. 
 For purposes of Section 4.06, on the Reversion Date, the unutilized Excess Proceeds amount will be reset to zero. 

SECTION 4.16    Creation and Perfection of Certain Security Interests After the Issue Date. 

The Issuer and the Subsidiary Guarantors shall use their respective commercially reasonable efforts or Commercially Reasonable Efforts for Real
Property, as applicable, to create and perfect on the Issue Date the security interests in the Collateral for the benefit of the holders, but to the extent any such security interest is not created or perfected, the Issuer and the Subsidiary
Guarantors agree to use their respective commercially reasonable efforts or Commercially Reasonable Efforts for Real Property, as applicable, to do or cause to be done all acts and things that may be required, including obtaining any required
consents from third parties (subject to the standard set forth in Commercially Reasonable Efforts for Real Property), to have all security interests in the Collateral duly created and enforceable and perfected, to the extent required by the Security
Documents until the date that is 90 days after the Issue Date. Except to the extent set forth above in this Section 4.16 and as otherwise provided under Article XIII, failure to obtain such consents and create and perfect a security interest in
such Collateral to the extent required shall constitute an Event of Default. For the avoidance of doubt, references in this Section 4.16 to Collateral do not include Excluded Assets. For the avoidance of doubt, neither the Trustee nor the
Priority Lien Collateral Trustee shall have any duty or responsibility to see to or monitor the performance of the Issuer and its Subsidiaries with regard to their compliance with this Section 4.16. 

ARTICLE V 
 SUCCESSOR
COMPANY 
 SECTION 5.01    When Issuer and Subsidiary Guarantors May Merge or Transfer Assets. 

(a)    The Issuer may not, directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into
(whether or not the Issuer is the surviving Person), 

  
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 or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or
assets in one or more related transactions, to any Person unless: 
 (i)    the Issuer is the surviving
Person or the Person formed by or surviving any such consolidation, amalgamation, merger, winding up or conversion (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is
a corporation, partnership (including a limited partnership) or limited liability company or similar entity organized or existing under the laws of the United States, any state thereof, the District of Columbia, or any territory thereof (the Issuer
or such Person, as the case may be, being herein called the “Successor Company”); provided that in the event that the Successor Company is not a corporation, a co-obligor of the Notes
is a corporation; 
 (ii)    the Successor Company (if other than the Issuer) expressly assumes all the
obligations of the Issuer under this Indenture, the Notes and the Security Documents pursuant to supplemental indentures or other applicable documents or instruments; 

(iii)    immediately after giving effect to such transaction (and treating any Indebtedness which becomes
an obligation of the Successor Company or any Restricted Subsidiary as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no Default shall have occurred and be
continuing; 
 (iv)    immediately after giving pro forma effect to such transaction, as if such
transaction had occurred at the beginning of the applicable four-quarter period (and treating any Indebtedness which becomes an obligation of the Successor Company or any Restricted Subsidiary as a result of such transaction as having been Incurred
by the Successor Company or such Restricted Subsidiary at the time of such transaction), either 

(1)    the Successor Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant
to the Fixed Charge Coverage Ratio test set forth in Section 4.03(a); or 
 (2)    the Fixed Charge
Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be no less than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; 

(v)    if the Issuer is not the Successor Company, each Subsidiary Guarantor, unless it is the other party
to the transactions described above, shall have by supplemental indenture, or other agreement or instrument, as applicable, confirmed that its Subsidiary Guarantee shall apply to such Person’s obligations under this Indenture, the Notes and the
Security Documents; and 
 (vi)    the Successor Company shall have delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, amalgamation or transfer and such supplemental indentures (if any) comply with this Indenture, the Notes and the Security Documents. 

  
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 The Successor Company (if other than the Issuer) will succeed to, and be substituted for, the
Issuer under this Indenture, the Notes and the Security Documents, and in such event the Issuer will automatically be released and discharged from its obligations under this Indenture, the Notes and the Security Documents. Notwithstanding the
foregoing clauses (iii) and (iv) of this Section 5.01(a), (A) the Issuer or any Restricted Subsidiary may merge, consolidate or amalgamate with or transfer all or part of its properties and assets to a Restricted Subsidiary and
(B) the Issuer may merge, consolidate or amalgamate with an Affiliate incorporated solely for the purpose of reincorporating or reorganizing the Issuer in another state of the United States, the District of Columbia or any territory of the
United States (collectively, “Permitted Jurisdictions”) or may convert into a corporation, partnership or limited liability company, so long as the amount of Indebtedness of the Issuer and the Restricted Subsidiaries is not
increased thereby. This Section 5.01(a) will not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Issuer and the Subsidiary Guarantors. 

(b)    Subject to the provisions of Section 12.02(b) and equivalent provisions of the Security Documents, no
Subsidiary Guarantor shall, and the Issuer shall not permit any Subsidiary Guarantor to, consolidate, amalgamate or merge with or into or wind up into (whether or not such Subsidiary Guarantor is the surviving Person), or sell, assign, transfer,
lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: 

(i)    either (A) such Subsidiary Guarantor is the surviving Person or the Person formed by or
surviving any such consolidation, amalgamation or merger (if other than such Subsidiary Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a company, corporation, partnership or
limited liability company or similar entity organized or existing under the laws of the United States, any state thereof, the District of Columbia, or any territory thereof (such Subsidiary Guarantor or such Person, as the case may be, being herein
called the “Successor Subsidiary Guarantor”) and the Successor Subsidiary Guarantor (if other than such Subsidiary Guarantor) expressly assumes all the obligations of such Subsidiary Guarantor under this Indenture, the Notes, the
Subsidiary Guarantee and the Security Documents, as applicable, pursuant to a supplemental indenture or other applicable documents or instruments, or (B) such sale or disposition or consolidation, amalgamation or merger is not in violation of
Section 4.06; and 
 (ii)    the Successor Subsidiary Guarantor (if other than such Subsidiary
Guarantor) shall have delivered or caused to be delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indenture (if any) comply
with this Indenture and the Security Documents. 
 Except as otherwise provided in this Indenture and the Security Documents, the Successor
Subsidiary Guarantor (if other than such Subsidiary Guarantor) will succeed to, and be substituted for, such Subsidiary Guarantor under this Indenture, the Notes, the Subsidiary Guarantee and the Security Documents, and such Subsidiary Guarantor
will automatically be released and discharged from its obligations under this Indenture, the Notes, its Subsidiary 

  
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Guarantee and the Security Documents. Notwithstanding the foregoing, (1) a Subsidiary Guarantor may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of
reincorporating or reorganizing such Subsidiary Guarantor in a Permitted Jurisdiction or may convert into a limited liability company, corporation, partnership or similar entity organized or existing under the laws of any Permitted Jurisdiction so
long as the amount of Indebtedness of such Subsidiary Guarantor is not increased thereby and (2) a Subsidiary Guarantor may merge, amalgamate or consolidate with the Issuer or any Subsidiary Guarantor. 

In addition, notwithstanding the foregoing, a Subsidiary Guarantor may consolidate, amalgamate or merge with or into or wind up into,
liquidate, dissolve, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets to the Issuer or any Subsidiary Guarantor. 

ARTICLE VI 
 DEFAULTS
AND REMEDIES 
 SECTION 6.01    Events of Default. An “Event of Default” occurs with
respect to Notes if: 
 (a)    there is a default in any payment of interest on any Note when due and payable, and such
default continues for a period of 30 days; 
 (b)    there is a default in the payment of principal or premium, if any,
of any Note when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise; 

(c)    there is a failure by the Issuer for 120 days after receipt of written notice given by the Trustee or the holders
of not less than 30% in aggregate principal amount of the Notes then outstanding (with a copy to the Trustee) to comply with any of its obligations, covenants or agreements in Section 4.02; 

(d)    there is a failure by the Issuer or any Restricted Subsidiary for 60 days after written notice given by the Trustee
or the holders of not less than 30% in aggregate principal amount of the Notes then outstanding (with a copy to the Trustee) to comply with its other obligations, covenants or agreements (other than a default referred to in clauses (a), (b) and
(c) above) contained in the Notes, this Indenture or the Security Documents; 
 (e)    there is a failure by the
Issuer or any Significant Subsidiary (other than any Special Purpose Securitization Subsidiary) (or any group of Subsidiaries that together would constitute a Significant Subsidiary, other than any Special Purpose Securitization Subsidiary) to pay
any Indebtedness for borrowed money (other than Indebtedness owing to the Issuer or a Restricted Subsidiary or any Permitted Securitization Financing) within any applicable grace period after final maturity or the acceleration (by action of the
holders of such debt or automatically by its terms) of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated exceeds $20.0 million or its foreign currency
equivalent; 

  
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 (f)    the Issuer or any Significant Subsidiary (other than any Special
Purpose Securitization Subsidiary) (or any group of Subsidiaries that together would constitute a Significant Subsidiary, other than any Special Purpose Securitization Subsidiary) pursuant to or within the meaning of any Bankruptcy Law: 

(i)    commences a voluntary case; 

(ii)    consents to the entry of an order for relief against it in an involuntary case; 

(iii)    consents to the appointment of a Custodian of it or for any substantial part of its property; or

 (iv)    makes a general assignment for the benefit of its creditors or takes any comparable action
under any foreign laws relating to insolvency, 
 (g)    a court of competent jurisdiction enters an order or decree
under any Bankruptcy Law that: 
 (i)    is for relief against the Issuer or any Significant Subsidiary
in an involuntary case; 
 (ii)    appoints a Custodian of the Issuer or any Significant Subsidiary or
for any substantial part of its property; or 
 (iii)    orders the winding up or liquidation of the
Issuer or any Significant Subsidiary; 
 or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for
60 days; 
 (h)    there is a failure by the Issuer or any Significant Subsidiary (other than any Special Purpose
Securitization Subsidiary) (or any group of Subsidiaries that together would constitute a Significant Subsidiary, other than any Special Purpose Securitization Subsidiary) to pay final judgments aggregating in excess of $20.0 million or its
foreign currency equivalent (net of any amounts which are covered by enforceable insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period of 60 days; 

(i)    the Subsidiary Guarantee of a Significant Subsidiary (or any group of Subsidiaries that together would constitute a
Significant Subsidiary) with respect to the Notes ceases to be in full force and effect (except as contemplated by the terms thereof) or the Issuer or any Subsidiary Guarantor that qualifies as a Significant Subsidiary (or any group of Subsidiaries
that together would constitute a Significant Subsidiary) denies or disaffirms its obligations under this Indenture or any Subsidiary Guarantee with respect to the Notes (except as contemplated by the terms thereof) and such Default continues for 10
days; or 

  
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 (j)    the occurrence of the following: 

(i)    except as permitted by this Indenture or the Security Documents, any Security Document establishing
the Priority Liens ceases for any reason to be enforceable; provided that it will not be an Event of Default under this clause (j)(i) if the sole result of the failure of one or more Security Documents to be fully enforceable is that any
Priority Lien purported to be granted under such Security Documents on Collateral, individually or in the aggregate, having a Fair Market Value of not more than $30.0 million, ceases to be an enforceable and perfected Priority Lien;
provided that if such failure is susceptible to cure, no Event of Default shall arise with respect thereto until 60 days after any Officer of the Issuer or any Restricted Subsidiary receives written notice or otherwise becomes aware of such
failure, which failure has not been cured during such time period; 
 (ii)    except as permitted by the
Security Documents, any Priority Lien purported to be granted under any Security Document on Collateral, individually or in the aggregate, having a Fair Market Value in excess of $30.0 million, ceases to be an enforceable and perfected first
priority Lien, subject to Permitted Liens; provided that if such failure is susceptible to cure, no Event of Default shall arise with respect thereto until 60 days after any Officer of the Issuer or any Restricted Subsidiary receives written
notice or otherwise becomes aware of such failure, which failure has not been cured during such time period; and 

(iii)    the Issuer or any Subsidiary Guarantor, or any Person acting on behalf of any of them, denies or
disaffirms, in writing, any obligation of the Issuer or Subsidiary Guarantor set forth in or arising under any Security Document. 
 The
foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule
or regulation of any administrative or governmental body. 
 However, a default under clauses (c), (d) or (j)(iii) above shall not
constitute an Event of Default until the Trustee notifies the Issuer or the holders of at least 30% in aggregate principal amount of outstanding Notes notify the Issuer, with a copy to the Trustee, of the default and the Issuer does not cure such
default within the time specified in clauses (c), (d) or (j)(iii) above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and state that such notice is a “Notice of Default.” The Issuer
shall deliver to the Trustee, within five Business Days after the occurrence thereof, written notice in the form of an Officer’s Certificate of any event which is, or with the giving of notice or the lapse of time or both would become, an Event
of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. 
 The term
“Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 

SECTION 6.02    Acceleration. If an Event of Default (other than an Event of Default specified in
Section 6.01(f) or (g) with respect to the Issuer) occurs and is continuing, the Trustee by notice to the Issuer or the holders of at least 30% in aggregate principal amount of 

  
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outstanding Notes by notice to the Issuer (with a copy to the Trustee) may declare the principal of, premium, if any, and accrued but unpaid interest on all the Notes to be due and payable. Upon
such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in Section 6.01(f) or (g) with respect to the Issuer occurs, the principal of, premium, if any, and interest on all the
Notes will become immediately due and payable without any declaration or other act on the part of the Trustee or any holders. 
 In the
event of any Event of Default specified in Section 6.01(e), such Event of Default and all consequences thereof (excluding, however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by
the Trustee or the holders of the Notes, if within 20 days after such Event of Default arose the Issuer delivers an Officer’s Certificate to the Trustee stating that (x) the Indebtedness or guarantee that is the basis for such Event of
Default has been discharged or (y) the holders of such Indebtedness or guarantee have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (z) the default that is the basis for
such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Notes as described above be annulled, waived or rescinded upon the happening of any such events. 

SECTION 6.03    Other Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any
available remedy at law or in equity to collect the payment of principal of or interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 

The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay
or omission by the Trustee or any holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other
remedy. To the extent required by law, all available remedies are cumulative. 
 SECTION 6.04    Waiver of Past
Defaults; Rescission of Acceleration. Provided the Notes are not then due and payable by reason of a declaration of acceleration, the holders of a majority in principal amount of the Notes then outstanding by written notice to the Trustee may on
behalf of all holders waive an existing Default or Event of Default and its consequences except (a) a Default or Event of Default in the payment of the principal of or interest on a Note, (b) a Default or Event of Default arising from the
failure to redeem or purchase any Note when required pursuant to the terms of this Indenture or (c) a Default or Event of Default in respect of a provision that under Section 9.02 cannot be amended without the consent of each holder
affected. When a Default or Event of Default is waived, it is deemed cured and the Issuer, the Trustee and the holders will be restored to their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or
other Default or Event of Default or impair any consequent right. The Holders of a majority in principal amount of the Notes then outstanding by written notice to the Trustee may on behalf of all Holders rescind an acceleration and its consequences
except (a) a Default or Event of Default in the payment of the principal of or interest on a Note (other than nonpayment of the principal of and interest on the Notes that have become due solely by such declaration of acceleration), (b) a
Default or Event of Default 

  
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arising from the failure to redeem or purchase any Note when required pursuant to the terms of this Indenture or (c) a Default or Event of Default in respect of a provision that under
Section 9.02 cannot be amended without the consent of each holder affected; provided that, in the case of the rescission of any acceleration with respect to the Notes, (1) the rescission would not conflict with any judgment or decree of a
court of competent jurisdiction and (2) all existing Events of Default (except nonpayment of the principal of and interest on the Notes that have become due solely by such declaration of acceleration) have been cured or waived. 

SECTION 6.05    Control by Majority. The holders of a majority in principal amount of outstanding Notes may
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or
this Indenture or, if the Trustee, being advised by counsel, determines that the action or proceeding so directed may not lawfully be taken or if the Trustee in good faith shall determine that the action or proceeding so directed would involve the
Trustee in personal liability or expense for which it is not adequately indemnified, or subject to Section 7.01, that the Trustee determines is unduly prejudicial to the rights of any other holder (it being understood that the Trustee does not
have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such holders) or that would involve the Trustee in personal liability. Neither the Trustee nor the Priority Lien Collateral Trustee shall be
obligated to take any action at the direction of holders of Notes unless such holders have offered to the Trustee and the Priority Lien Collateral Trustee indemnity or security satisfactory to the Trustee and the Priority Lien Collateral Trustee
against any loss, liability or expense. 
 SECTION 6.06    Limitation on Suits. 

(a)    Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no holder may
pursue any remedy with respect to this Indenture or the Notes unless: 
 (i)    such holder has
previously given the Trustee written notice that an Event of Default is continuing, 
 (ii)    holders of
at least 30% in aggregate principal amount of the outstanding Notes have requested in writing the Trustee to pursue the remedy, 

(iii)    such holders have offered the Trustee security or indemnity satisfactory to it against any loss,
liability or expense, 
 (iv)    the Trustee has not complied with such request within 60 days after the
receipt of the request and the offer of security or indemnity, and 
 (v)    the holders of a majority in
principal amount of the outstanding Notes have not given the Trustee a direction inconsistent with such written request within such 60-day period. 

(b)    A holder may not use this Indenture to prejudice the rights of another holder or to obtain a preference or priority
over another holder. 

  
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 SECTION 6.07    Contractual Rights of the Holders to Receive
Payment. Notwithstanding any other provision of this Indenture, the contractual right of any holder to receive payment of principal of and interest on the Note held by such holder, on or after the respective due dates thereof, or to bring suit
for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such holder. 

SECTION 6.08    Collection Suit by Trustee. If an Event of Default specified in Section 6.01(a) or
(b) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Notes for the whole amount then due and owing (together with interest on overdue
principal and (to the extent lawful) on any unpaid interest at the rate provided for in the Notes) and the amounts provided for in Section 7.07. 

SECTION 6.09    Trustee May File Proofs of Claim. The Trustee may file such proofs of claim, statements
of interest and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee or the Priority Lien Collateral Trustee (including any claim for reasonable compensation, expenses disbursements and advances of
the Trustee or the Priority Lien Collateral Trustee (including counsel, accountants, experts or such other professionals as the Trustee or the Priority Lien Collateral Trustee deems necessary, advisable or appropriate)) and the holders allowed in
any judicial proceedings relative to the Issuer, the Subsidiary Guarantors, their creditors or their property, shall be entitled to participate as a member, voting or otherwise, of any official committee of creditors appointed in such matters and,
unless prohibited by law or applicable regulations, may vote on behalf of the holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by
each holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the holders, to pay to the Trustee or the Priority Lien Collateral Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee or the Priority Lien Collateral Trustee, and their respective agents and counsel, and any other amounts due the Trustee or the Priority Lien Collateral Trustee under
Section 7.07. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf of any holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the
rights of any holder, or to authorize the Trustee to vote in respect of the claim of any holder in any such proceeding. 

SECTION 6.10    Priorities. Any money or property collected by the Trustee pursuant to this Article VI
and any other money or property distributable in respect of the Issuer’s or any Subsidiary Guarantor’s obligations under this Indenture after an Event of Default shall be applied in the following order: 

FIRST: to the Trustee and the Priority Lien Collateral Trustee, their respective agents and attorneys for amounts due hereunder or under the
Security Documents; 
 SECOND: to the holders for amounts due and unpaid on the Notes for principal, premium, if any, and interest, ratably,
without preference or priority of any kind, according to the amounts due and payable on the Notes for principal and interest, respectively; and 

  
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 THIRD: to the Issuer or, to the extent the Trustee collects any amount for any Subsidiary
Guarantor, to such Subsidiary Guarantor. 
 The Trustee may fix a record date and payment date for any payment to the holders pursuant to
this Section 6.10. At least 15 days before such record date, the Trustee shall mail to each holder and the Issuer a notice that states the record date, the payment date and the amount to be paid. 

SECTION 6.11    Undertaking for Costs. In any suit for the enforcement of any right or remedy under this
Indenture or in any suit against the Trustee or the Priority Lien Collateral Trustee for any action taken or omitted by it as Trustee or as the Priority Lien Collateral Trustee, a court in its discretion may require the filing by any party litigant
in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in the suit, having due regard to the merits
and good faith of the claims or defenses made by the party litigant. This Article VI does not apply to a suit by the Trustee or the Priority Lien Collateral Trustee, a suit by a holder pursuant to Section 6.07 or a suit by holders of more
than 10% in principal amount of the Notes. 
 SECTION 6.12    Waiver of Stay or Extension Laws. Neither the
Issuer nor any Subsidiary Guarantor (to the extent it may lawfully do so) shall at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time
hereafter in force, which may affect the covenants or the performance of this Indenture; and the Issuer and the Subsidiary Guarantors (to the extent that they may lawfully do so) hereby expressly waive all benefit or advantage of any such law, and
shall not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 

ARTICLE VII 
 TRUSTEE

 SECTION 7.01    Duties of Trustee. 

(a)    The Trustee, prior to the occurrence of an Event of Default with respect to the Notes and after the curing or
waiving of all Events of Default which may have occurred, undertakes to perform such duties and only such duties as are specifically set forth in this Indenture. If an Event of Default has occurred and is continuing, the Trustee shall exercise the
rights and powers vested in it by this Indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b)    Except during the continuance of an Event of Default: 

(i)    the duties and obligations of the Trustee shall be determined solely by the express provisions of
this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty); and

  
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 (ii)    in the absence of bad faith on its part, the Trustee
may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the form requirements of this Indenture. The Trustee shall be
under no duty to make any investigation as to any statement contained in any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of
certificates or opinions required by any provision hereof to be provided to it, the Trustee shall examine the form of certificates and opinions to determine whether or not they conform to the form requirements of this Indenture (but need not confirm
or investigate the accuracy of mathematical calculations or other facts stated therein). 
 (c)    The Trustee may not
be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

(i)    this paragraph does not limit the effect of paragraph (b) of this Section; 

(ii)    the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer
unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; 
 (iii)    the
Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section 6.05 or Article XIII; 

(iv)    the Trustee will be under no obligation to exercise any of its rights and powers under this
Indenture or the Security Documents unless the Trustee has been offered security or indemnity satisfactory to it against any loss, liability or exposure which may be incurred by it in connection therewith; and 

(v)    no provision of this Indenture or the Security Documents shall require the Trustee to expend or risk
its own funds or otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. 

(d)    Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b) and
(c) of this Section 7.01. 
 (e)    The Trustee shall not be liable for interest on any money received by it
except as the Trustee may agree in writing with the Issuer. 
 (f)    Money held in trust by the Trustee need not be
segregated from other funds except to the extent required by law. 

  
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 (g)    Whether or not therein expressly so provided, every provision of this
Indenture and the Security Documents relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section 7.01. 

SECTION 7.02    Rights of Trustee. 

(a)    The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented
by the proper person. The Trustee need not investigate any fact or matter stated in any such document. 

(b)    Whenever in the administration of this Indenture or any of the Security Documents the Trustee shall deem it
desirable that a matter be proved or established prior to taking, suffering or omitting any action hereunder, the Trustee (unless other evidence be herein specifically prescribed) may, in the absence of bad faith on its part, request and rely upon
an Officer’s Certificate and/or an Opinion of Counsel and shall not be liable for any action it takes or omits to take in good faith reliance on such Officer’s Certificate and/or Opinion of Counsel. 

(c)    The Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by
or through agents, attorneys, custodians or nominees appointed with due care and shall not be responsible for the misconduct or negligence of any agent, attorney, custodian or nominee so appointed. 

(d)    The Trustee shall not be responsible or liable for any action it takes or omits to take in good faith which it
believes to be authorized or within its rights or powers; provided, however, that the Trustee’s conduct does not constitute willful misconduct or negligence. 

(e)    The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to
legal matters relating to this Indenture, the Notes, the Security Documents and the transactions contemplated hereby and thereby shall be full and complete authorization and protection from liability in respect of any action taken, omitted or
suffered by it hereunder in good faith and in accordance with the advice or opinion of such counsel. 
 (f)    The
Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture or any of the Security Documents at the request or direction of the requisite holders of the Notes and/or Secured Parties (as set forth in
this Indenture or the Security Documents), unless such holders of the Notes and/or such Secured Parties shall have offered to the Trustee security or indemnity reasonably satisfactory to it against the costs, expenses, losses and liabilities which
might be incurred by it in compliance with such request or direction. 
 (g)    The Trustee shall not be bound to make
any investigation into the facts or matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do
so by the holders of not less than a majority in principal amount of the Notes at the time outstanding and indemnified in accordance with Section 6.05 or Article XIII, but the Trustee, in its discretion, may make such further inquiry or
investigation into such facts 

  
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or matters as it may see fit, and, if the Trustee shall determine (or is requested in writing by the holders as set forth above) to make such further inquiry or investigation, it shall be
entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall incur no liability of any kind by reason of such inquiry or investigation. 

(h)    The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Indenture at
the request or direction of any of the holders pursuant to this Indenture, unless such holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses and liabilities which might be Incurred by
it in compliance with such request or direction. 
 (i)    The rights, privileges, protections, immunities and benefits
given to the Trustee pursuant to this Indenture and the Security Documents, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder (including as Paying Agent, Registrar
and Notes Custodian), the Priority Lien Collateral Trustee, and each agent, custodian and other Person employed to act hereunder. 

(j)    The Trustee shall not be responsible or liable for any action taken or omitted by it in good faith at the direction
of the holders of not less than a majority in principal amount of the Notes as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred by this Indenture. 

(k)    Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request
or authority or consent of any person who, at the time of making such request or giving such authority or consent, is the holder of any Note shall be conclusive and binding upon future holders of Notes and upon Notes executed and delivered in
exchange therefor or in place thereof. 
 (l)    The Trustee shall not be deemed to have notice of any Default or Event
of Default unless a Trust Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default is received by the Trustee at the Corporate Trust Office of the Trustee from the Issuer, any
Subsidiary Guarantor or any holder, and such notice references the Notes and this Indenture. 
 (m)    The Trustee may
request that the Issuer delivers an Officer’s Certificate setting forth the names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer’s Certificate may be
signed by any Person authorized to sign an Officer’s Certificate, including any Person specified as so authorized in any such certificate previously delivered and not superseded. 

(n)    Notwithstanding anything herein to the contrary, in no event shall the Trustee be responsible or liable for any
punitive, special, indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the
form of actions. 

  
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 (o)    The Trustee shall not be required to give any bond or surety in
respect of the execution of the trusts and powers under this Indenture. 
 (p)    The Trustee shall not be responsible
or liable for any failure or delay in the performance of its obligations under this Indenture arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation, acts of God; earthquakes;
fire; flood; terrorism; wars and other military disturbances; sabotage; epidemics; riots; interruptions; loss or malfunction of utilities, computer (hardware or software) or communication services; accidents; labor disputes; and acts of civil or
military authorities and governmental action. 
 (q)    Any discretion, permissive right or privilege of the Trustee to
take the actions permitted by this Indenture shall not be construed as an obligation to do so. 
 (r)    The Trustee
shall not be responsible for the perfection of any Lien or for the filing, form, content or renewal of any UCC financing statements, fixture filings, mortgages, deeds of trust and such other documents or instruments. The Trustee shall not have any
duty or responsibility in respect of any recordings, filing, or depositing of this Indenture or any other agreement or instrument, monitoring or filing any financing statement or continuation statement evidencing a security interest, the maintenance
of any such recording, filing or depositing or any re-recording, re-filing or re-depositing of any thereof, or otherwise
monitoring the perfection, continuation of perfection or the sufficiency or validity of any security interest in or related to the Collateral. The Trustee shall be authorized to, but shall in no event have any duty or responsibility to, file any
financing or continuation statements or record any documents or instruments in any public office at any time or times or otherwise perfect or maintain any security interest. 

(s)    The Trustee shall have no duty to ascertain or inquire into the performance or observance of any terms of this
Indenture, the Notes, the Security Documents (including ABL the Intercreditor Agreement) or any other document executed in connection with the transactions contemplated hereby and thereby, and the Trustee shall have no responsibility for any acts or
omissions of (and shall have no responsibility to monitor the performance or compliance by) the Issuer, any Subsidiary Guarantor, the ABL Agent or any other Person under, or in connection with, the terms of this Indenture, the Notes and the Security
Documents. 
 (t)    The Trustee (and, for the avoidance of doubt, the Priority Lien Collateral Trustee) shall be
afforded all of the same rights, protections, immunities and benefits set forth herein in each of the Priority Lien Documents, whether or not specifically set forth therein. 

SECTION 7.03    Individual Rights of Trustee. The Trustee in its individual or any other capacity may become
the owner or pledgee of Notes and may otherwise deal with the Issuer or its Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same with like rights. However, the Trustee must comply with
Sections 7.10 and 7.11. 
 SECTION 7.04    Trustee’s Disclaimer. The Trustee shall not be
responsible for and makes no representation as to the validity or adequacy of this Indenture, the Security 

  
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Documents or any other document issued in connection with the sale of the Notes, the Subsidiary Guarantees or the Notes, it shall not be accountable for the Issuer’s use of the proceeds from
the Notes, and it shall not be responsible for any statement of the Issuer or any Subsidiary Guarantor in this Indenture, any Security Document or in any other document issued in connection with the sale of the Notes or in the Notes other than the
Trustee’s certificate of authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default under Sections 6.01(c), (d), (e), (f), (g), (h) or (i), or of the identity of any Significant Subsidiary, unless either
(a) a Trust Officer of the Trustee shall have actual knowledge thereof or (b) the Trustee shall have received written notice thereof in accordance with Section 13.02 hereof from the Issuer, any Subsidiary Guarantor or any holder. In
accepting the trust hereby created, the Trustee acts solely as Trustee under this Indenture and not in its individual capacity and all persons, including without limitation the holders of Notes and the Issuer having any claim against the Trustee
arising from this Indenture shall look only to the funds and accounts held by the Trustee hereunder for payment except as otherwise provided herein. 

SECTION 7.05    Notice of Default. If a Default occurs and is continuing and is actually known to a Trust
Officer of the Trustee, the Trustee shall, subject to the immediately succeeding sentence, mail, or deliver electronically if held by the Depository, to each holder of the Notes notice of the Default within the later of 90 days after it occurs or 30
days after it is actually known to a Trust Officer or written notice of it is received by the Trustee. Except in the case of a Default in the payment of principal of, premium (if any) or interest on any Note, the Trustee may withhold notice if and
so long as a committee of its Trust Officers in good faith determines that withholding notice is in the interests of the noteholders. The Issuer shall deliver to the Trustee, within 30 days after the occurrence thereof, written notice of any event
which would constitute a Default or Event of Default, its status and what action the Issuer is taking or proposes to take in respect thereof. 

SECTION 7.06    [Reserved]. 

SECTION 7.07    Compensation and Indemnity. The Issuer and the Subsidiary Guarantors, jointly and severally,
shall pay to the Trustee and the Priority Lien Collateral Trustee from time to time compensation agreed in writing between the Issuer and the Trustee and the Priority Lien Collateral Trustee for the Trustee’s and Priority Lien Collateral
Trustee’s acceptance of this Indenture and their respective services hereunder and under the Security Documents, as applicable. The Trustee’s and the Priority Lien Collateral Trustee’s compensation shall not be limited by any law on
compensation of a trustee of an express trust. The Issuer and the Subsidiary Guarantors, jointly and severally, shall reimburse the Trustee and the Priority Lien Collateral Trustee upon request for all reasonable expenses incurred or made by it,
including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s and Priority Lien Collateral Trustee’s
agents, counsel, accountants and experts. The Issuer and the Subsidiary Guarantors, jointly and severally, shall indemnify and hold harmless the Trustee and the Priority Lien Collateral Trustee or any predecessor Trustee or predecessor Priority Lien
Collateral Trustee and their respective directors, officers, employees and agents against any and all loss, liability, claim, damage or expense (including reasonable attorneys’ fees and expenses and including taxes (other than taxes based upon,
measured by or determined by the income of the Trustee and the Priority Lien Collateral Trustee, as the case may be)) incurred 

  
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by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder or under the Security Documents, including the costs and expenses of enforcing
this Indenture, Subsidiary Guarantee or any Security Document against the Issuer or any Subsidiary Guarantor (including this Section 7.07) and defending itself against or investigating any claim (whether asserted by the Issuer, any Subsidiary
Guarantor, any holder or any other Person). The Trustee or Priority Lien Collateral Trustee, as applicable, shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; provided,
however, that any failure so to notify the Issuer shall not relieve the Issuer or any Subsidiary Guarantor of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide reasonable
cooperation at the Issuer’s expense in the defense. Such indemnified parties may have separate counsel and the Issuer and such Subsidiary Guarantor, as applicable, shall pay the fees and expenses of such counsel; provided,
however, that the Issuer shall not be required to pay such fees and expenses if it assumes such indemnified parties’ defense and, in such indemnified parties’ reasonable judgment, there is no actual or potential conflict of interest
between the Issuer and the Subsidiary Guarantors, as applicable, and such parties in connection with such defense. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense Incurred by an indemnified party through
such party’s own willful misconduct, negligence (or in the case of the Priority Lien Collateral Trustee and its related indemnified parties, gross negligence) or bad faith (as determined by a court of competent jurisdiction in a final, non-appealable order). 
 To secure the Issuer’s and the Subsidiary Guarantors’ payment
obligations in this Section 7.07, the Trustee and the Priority Lien Collateral Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee or the Priority Lien Collateral Trustee, as the case may be,
other than money or property held in trust to pay principal of and interest on particular Notes. 
 The Issuer’s and the Subsidiary
Guarantors’ obligations pursuant to this Section 7.07 shall survive the satisfaction or discharge of this Indenture, payment in full or defeasance of the Notes, any rejection or termination of this Indenture under any bankruptcy law or the
resignation or removal of the Trustee or the Priority Lien Collateral Trustee, as applicable. Without prejudice to any other rights available to the Trustee or the Priority Lien Collateral Trustee under applicable law, when the Trustee or the
Priority Lien Collateral Trustee incurs expenses after the occurrence of a Default specified in Section 6.01(f) or (g) with respect to the Issuer, the expenses (including the fees, expenses and disbursements of the Trustee’s and the
Priority Lien Collateral Trustee’s agents and counsel) are intended to constitute expenses of administration under the Bankruptcy Law. 

No provision of this Indenture shall require the Trustee or the Priority Lien Collateral Trustee to expend or risk its own funds or otherwise
incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity against such risk or liability is not assured to its satisfaction.

 “Trustee” or “Priority Lien Collateral Trustee” for purposes of this Section shall include any predecessor Trustee or
Priority Lien Collateral Trustee; provided, however, that the gross negligence or willful misconduct of any Trustee or Priority Lien Collateral Trustee hereunder shall not affect the rights of any other Trustee or Priority Lien Collateral
Trustee hereunder. 

  
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 SECTION 7.08    Replacement of Trustee or Priority Lien Collateral
Trustee. 
 (a)    The Trustee or Priority Lien Collateral Trustee may resign at any time by so notifying the Issuer.
The holders of a majority in principal amount of the Notes may remove the Trustee or Priority Lien Collateral Trustee by so notifying the Trustee or Priority Lien Collateral Trustee upon 30 days advance written notice and may appoint a successor
Trustee or Priority Lien Collateral Trustee. The Issuer shall remove the Trustee or the Priority Lien Collateral Trustee if: 

(i)    the Trustee fails to comply with Section 7.10; 

(ii)    the Trustee or Priority Lien Collateral Trustee is adjudged bankrupt or insolvent; 

(iii)    a receiver or other public officer takes charge of the Trustee or Priority Lien Collateral Trustee
or its respective property; or 
 (iv)    the Trustee or Priority Lien Collateral Trustee otherwise
becomes incapable of acting. 
 (b)    If the Trustee or Priority Lien Collateral Trustee resigns, is removed by the
Issuer or by the holders of a majority in principal amount of the Notes and such holders do not reasonably promptly appoint a successor Trustee or successor Priority Lien Collateral Trustee, or if a vacancy exists in the office of Trustee or
Priority Lien Collateral Trustee for any reason (the Trustee or Priority Lien Collateral Trustee in such event being referred to herein as the retiring Trustee or retiring Priority Lien Collateral Trustee, as applicable), the Issuer shall promptly
appoint a successor Trustee or successor Priority Lien Collateral Trustee. 
 (c)    A successor Trustee and successor
Priority Lien Collateral Trustee appointed hereunder shall deliver a written acceptance of its appointment to the retiring Trustee or retiring Priority Lien Collateral Trustee, as applicable, and to the Issuer. Thereupon the resignation or removal
of the retiring Trustee or retiring Priority Lien Collateral Trustee, as applicable, shall become effective, and the successor Trustee or successor Priority Lien Collateral Trustee, as applicable, shall have all the rights, powers and duties of the
Trustee or Priority Lien Collateral Trustee, as applicable, under this Indenture and the Security Documents to which such retiring Trustee or Priority Lien Collateral Trustee was a party. The successor Trustee and/or successor Priority Lien
Collateral Trustee shall mail (or otherwise deliver in accordance with the procedures of the Depositary) a notice of its succession to the holders. The retiring Trustee or retiring Priority Lien Collateral Trustee, as applicable, shall promptly
transfer all property held by it as Trustee or Priority Lien Collateral Trustee to the successor Trustee and/or successor Priority Lien Collateral Trustee, subject to the Lien provided for in Section 7.07. 

(d)    If a successor Trustee or successor Priority Lien Collateral Trustee does not take office within 60 days after the
retiring Trustee or retiring Priority Lien Collateral 

  
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Trustee resigns or is removed, the retiring Trustee or retiring Priority Lien Collateral Trustee or the holders of 10% in principal amount of the Notes may petition at the expense of the Issuer
any court of competent jurisdiction for the appointment of a successor Trustee or successor Priority Lien Collateral Trustee. 

(e)    If the Trustee fails to comply with Section 7.10, unless the Trustee’s duty to resign is stayed as
provided in Section 310(b) of the TIA, any holder who has been a bona fide holder of a Note for at least six months may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 

(f)    Notwithstanding the replacement of the Trustee or Priority Lien Collateral Trustee pursuant to this Section, the
Issuer’s obligations under Section 7.07 shall continue for the benefit of the retiring Trustee and/or retiring Priority Lien Collateral Trustee. 

SECTION 7.09    Successor Trustee or Priority Lien Collateral Trustee by Merger. If the Trustee or Priority
Lien Collateral Trustee consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation or
banking association without any further act shall be the successor Trustee or successor Priority Lien Collateral Trustee, anything herein to the contrary notwithstanding. 

In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by
this Indenture, any of the Notes shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Notes so authenticated; and in case at that
time any of the Notes shall not have been authenticated, any successor to the Trustee may authenticate such Notes either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases such certificates
shall have the full force which it is anywhere in the Notes or in this Indenture provided that the certificate of the Trustee or Priority Lien Collateral Trustee shall have. 

SECTION 7.10    Eligibility; Disqualification. The Trustee shall at all times satisfy the requirements of
Section 310(a) of the TIA. The Trustee shall have a combined capital and surplus of at least $100 million as set forth in its most recent published annual report of condition. The Trustee shall comply with Section 310(b) of the TIA,
subject to its right to apply for a stay of its duty to resign under the penultimate paragraph of Section 310(b) of the TIA; provided, however, that there shall be excluded from the operation of Section 310(b)(1) of the TIA
any series of securities issued under this Indenture and any indenture or indentures under which other securities or certificates of interest or participation in other securities of the Issuer are outstanding if the requirements for such exclusion
set forth in Section 310(b)(1) of the TIA are met. 
 SECTION 7.11    Preferential Collection of Claims
Against the Issuer. The Trustee shall comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Trustee who has resigned or been removed shall be subject to Section 311(a) of
the TIA to the extent indicated. 

  
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 ARTICLE VIII 

DISCHARGE OF INDENTURE; DEFEASANCE 

SECTION 8.01    Discharge of Liability on Notes; Defeasance. 

(a)    This Indenture and the Notes shall be discharged and shall cease to be of further effect (except as to surviving
rights, indemnities and immunities of the Trustee and rights of registration or transfer or exchange of Notes, as expressly provided for in this Indenture) as to all outstanding Notes when: 

(i)    either (A) all the Notes theretofore authenticated and delivered (except lost, stolen or
destroyed Notes which have been replaced or paid and Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have been
delivered to the Trustee for cancellation or (B) all of the Notes not delivered to the Trustee for cancellation (1) have become due and payable, (2) will become due and payable at their stated maturity within one year or (3) if
redeemable at the option of the Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the
Issuer has irrevocably deposited or caused to be deposited with the Trustee U.S dollars in an amount sufficient to pay and discharge the entire Indebtedness on the Notes not theretofore delivered to the Trustee for cancellation, for principal of,
premium, if any, and interest on the Notes to the date of deposit (in the case of Notes that have become due and payable) or to the date of maturity or redemption, as applicable, together with irrevocable written instructions from the Issuer
directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; provided that upon any redemption that requires the payment of the Applicable Premium, the amount deposited shall be sufficient
for purposes of this Indenture to the extent that an amount is deposited with the Trustee equal to the Applicable Premium calculated as of the date of the notice of redemption, with any deficit as of the date of the redemption only required to be
deposited with the Trustee on or prior to the date of the redemption; 
 (ii)    the Issuer and/or the
Subsidiary Guarantors have paid all other sums due and payable under this Indenture; and 
 (iii)    the
Issuer has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel stating that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. 

(b)    Subject to Sections 8.01(c) and 8.02, the Issuer at any time may terminate (i) all of its obligations
under the Notes and this Indenture with respect to the holders of the Notes (“legal defeasance option”), and (ii) its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11, 4.12, 4.15 and 4.16 and
the operation of Section 5.01 for the benefit of the holders of the Notes, and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g) (in the case of Sections 6.01(f) and 6.01(g) with respect to Significant Subsidiaries), 6.01(h),
6.01(i) and 6.01(j) 

  
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(“covenant defeasance option”). The Issuer may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. In the event that the
Issuer terminates all of its obligations under the Notes and this Indenture (with respect to such Notes) by exercising its legal defeasance option or its covenant defeasance option, the obligations of each Subsidiary Guarantor with respect to its
Subsidiary Guarantee shall be terminated simultaneously with the termination of such obligations. 
 If the Issuer exercises its legal
defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Notes so defeased may not be accelerated because of an Event of Default
specified in Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g) (in the case of Sections 6.01(f) and (g), with respect to Significant Subsidiaries), 6.01(h), 6.01(i) or 6.01(j) or because of the failure of the Issuer to comply with
Section 5.01(a)(iv). 
 Upon satisfaction of the conditions set forth herein and upon request of the Issuer, the Trustee shall
acknowledge in writing the discharge of those obligations that the Issuer terminated. 
 (c)    Notwithstanding clauses
(a) and (b) above, the Issuer’s obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08 and 2.09 and Article VII, including, without limitation, Sections 7.07 and 7.08 and in this Article VIII and the rights, indemnities
and immunities of the Trustee under this Indenture shall survive until the Notes have been paid in full. Thereafter, the Issuer’s obligations in Sections 7.07, 7.08, 8.05 and 8.06 and the rights, indemnities and immunities of the Trustee
under this Indenture shall survive such satisfaction and discharge. 
 SECTION 8.02    Conditions to
Defeasance. 
 (a)    The Issuer may exercise its legal defeasance option or its covenant defeasance option only if:

 (i)    the Issuer irrevocably deposits in trust with the Trustee cash in U.S. dollars, U.S. Government
Obligations or a combination thereof in an amount that is sufficient to pay the principal of and premium (if any) and interest on the Notes when due at maturity or redemption, as the case may be and any other amounts due and owing by the Issuer;

 (ii)    the Issuer delivers to the Trustee a certificate from a nationally recognized firm of
independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such
times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Notes to maturity or redemption, as the case may be; 

(iii)    no Default specified in Section 6.01(f) or (g) with respect to the Issuer shall have
occurred or is continuing on the date of such deposit; 
 (iv)    the deposit does not constitute a
default under any other material agreement or instrument binding on the Issuer; 

  
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 (v)    in the case of the legal defeasance option, the Issuer
shall have delivered to the Trustee an Opinion of Counsel stating that (1) the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2) since the date of this Indenture there has been a change
in the applicable U.S. federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners of the Notes will not recognize income, gain or loss for U.S. federal income tax
purposes as a result of such deposit and defeasance and will be subject to U.S. federal income tax on the same amounts and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred and an
Officer’s Certificate and Opinion of Counsel stating that such legal defeasance is authorized or permitted by this Indenture and the Security Documents; provided that upon any redemption that requires the payment of the Applicable
Premium, the amount deposited shall be sufficient for purposes of this Indenture to the extent that an amount is deposited with the Trustee equal to the Applicable Premium calculated as of the date of the notice of redemption, with any deficit as of
the date of the redemption only required to be deposited with the Trustee on or prior to the date of the redemption. Notwithstanding the foregoing, the Opinion of Counsel required by the immediately preceding sentence with respect to U.S. federal
income tax in connection with a legal defeasance need not be delivered if all of the Notes not theretofore delivered to the Trustee for cancellation (x) have become due and payable or (y) will become due and payable at their Stated
Maturity within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer; 

(vi)    such exercise does not impair the right of any holder to receive payment of principal of, premium,
if any, and interest on such holder’s Notes on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such holder’s Notes; 

(vii)    in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an
Opinion of Counsel to the effect that the holders will not recognize income, gain or loss for U.S. federal income tax purposes as a result of such deposit and defeasance and will be subject to U.S. federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and 

(viii)    the Issuer delivers to the Trustee and the Priority Lien Collateral Trustee an Officer’s
Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Notes to be so defeased and discharged as contemplated by this Article VIII have been complied with. 

In addition, the Collateral will be released from the Lien securing the Notes, as provided in Section 12.02(b)(iv) hereof, upon a legal
defeasance or covenant defeasance of the Notes in accordance with this Article VIII. 
 (b)    Before or after a
deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such Notes at a future date in accordance with Article III. 

  
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 SECTION 8.03    Application of Trust Money. The Trustee shall
hold in trust U.S. dollars or U.S. Government Obligations (including proceeds thereof) deposited with it pursuant to this Article VIII. The Trustee shall apply the deposited money and the money from U.S. Government Obligations through each
Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Notes so discharged or defeased. 

SECTION 8.04    Repayment to Issuer. Each of the Trustee and each Paying Agent shall promptly turn over to the
Issuer upon request any money or U.S. Government Obligations held by it as provided in this Article VIII that, in the written opinion of a nationally recognized firm of independent public accountants delivered to the Trustee (which delivery
shall only be required if U.S. Government Obligations have been so deposited), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with this Article VIII.

 Subject to any applicable abandoned property law, the Trustee and each Paying Agent shall pay to the Issuer upon written request any
money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, holders entitled to the money must look to the Issuer for payment as general creditors, and the Trustee and each Paying Agent shall
have no further liability with respect to such monies. 
 SECTION 8.05    Indemnity for U.S. Government
Obligations. The Issuer shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government
Obligations. 
 SECTION 8.06    Reinstatement. If the Trustee or any Paying Agent is unable to apply any
money or U.S. Government Obligations in accordance with this Article VIII by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such
application, the Issuer’s obligations under this Indenture and the Notes so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article VIII until such time as the Trustee or any Paying
Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this Article VIII; provided, however, that, if the Issuer has made any payment of principal of, or interest on, any such Notes because of
the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or any Paying Agent. 

ARTICLE IX 
 AMENDMENTS
AND WAIVERS 
 SECTION 9.01    Without Consent of the Holders. 

(a)    The Issuer, the Trustee and the Priority Lien Collateral Trustee may amend this Indenture (including the Subsidiary
Guarantees), the Notes and/or the Security Documents without notice to or the consent of any holder: 

(i)    to cure any ambiguity, omission, mistake, defect or inconsistency; 

  
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 (ii)    to provide for the assumption by a Successor Company
(with respect to the Issuer) of the obligations of the Issuer under this Indenture, the Notes and the Security Documents; 

(iii)    to provide for the assumption by a Successor Subsidiary Guarantor (with respect to any Subsidiary
Guarantor), as the case may be, of the obligations of a Subsidiary Guarantor under this Indenture (including its Subsidiary Guarantee), the Notes and the Security Documents; 

(iv)    to provide for uncertificated Notes in addition to or in place of certificated Notes;
provided, however, that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code; 

(v)    to conform the text of this Indenture (including in respect of the Subsidiary Guarantees), the Notes
or the Security Documents to any provision of the “Description of Notes” in the Offering Circular to the extent that such provision in this Indenture (including in respect of the Subsidiary Guarantees), the Notes or the Security Documents
was intended by the Issuer to be a verbatim recitation of a provision in the “Description of Notes” in the Offering Circular, as stated in an Officer’s Certificate; 

(vi)    to add a Subsidiary Guarantee or Collateral; 

(vii)    to make, complete or confirm any grant of Collateral permitted or required by any of the Security
Documents, including to secure additional Priority Lien Debt, or to release, discharge, terminate or subordinate Liens on Collateral in accordance with this Indenture, the Notes and the Security Documents and to confirm and evidence any such
release, discharge, termination or subordination; 
 (viii)    to add to the covenants of the Issuer for
the benefit of the holders or to surrender any right or power herein conferred upon the Issuer or any Restricted Subsidiary; 

(ix)    to comply with any requirement of the SEC in connection with qualifying or maintaining the
qualification of, this Indenture under the TIA (if the Issuer elects to qualify this Indenture under the TIA); 

(x)    to make any change that would provide any additional rights or benefits to the holders or that does
not adversely affect the rights of any holder in any material respect (as determined in good faith by the Issuer); 

(xi)    to effect any provision of this Indenture or the Security Documents; 

(xii)    to make changes to this Indenture and the Security Documents to provide for the issuance of
Additional Notes; or 
 (xiii)    as provided for in the Collateral Trust Agreement. 

  
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 (b)    After an amendment under this Section 9.01 becomes effective, the
Issuer shall mail, or otherwise deliver in accordance with the procedures of the Depository, to the holders a notice briefly describing such amendment. The failure to give such notice to all holders, or any defect therein, shall not impair or affect
the validity of an amendment under this Section 9.01. 
 SECTION 9.02    With Consent of the Holders.
The Issuer, the Trustee and the Priority Lien Collateral Trustee may amend this Indenture (including the Subsidiary Guarantees), the Notes and the Security Documents with the consent of the holders of at least a majority in principal amount of the
Notes then outstanding voting as a single class and any past default or compliance with any provisions hereof may be waived with the consent of the holders of at least a majority in principal amount of the Notes then outstanding voting as a single
class (in each case, including consents obtained in connection with a tender offer or exchange for the Notes). However, without the consent of each holder of an outstanding Note affected, an amendment may not: 

(1)    reduce the amount of Notes whose holders must consent to an amendment; 

(2)    reduce the rate of or extend the time for payment of interest on any Note; 

(3)    reduce the principal of or change the Stated Maturity of any Note; 

(4)    reduce the premium payable upon the redemption of any Note or change the dates on which any such
premium is payable upon redemption pursuant to Article III; 
 (5)    make any Note payable in money
other than that stated in such Note; 
 (6)    expressly subordinate the Notes or any Subsidiary
Guarantee to any other Indebtedness of the Issuer or any Subsidiary Guarantor; 
 (7)    impair the
contractual right of any holder to receive payment of principal of, premium, if any, and interest on such holder’s Note on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such
holder’s Note; or 
 (8)    make any change in the amendment provisions or in the waiver provisions
which require each holder’s consent. 
 In addition, the Priority Lien Collateral Trustee and the Trustee are hereby authorized to
amend the Security Documents as provided therein or in the Collateral Trust Agreement. 
 Notwithstanding the foregoing, except as expressly
provided by this Indenture or the Security Documents, including the ABL Intercreditor Agreement, without the consent of holders of at least 66.67% in aggregate principal amount of outstanding Notes, no amendment or waiver under this
Section 9.02 may release all or substantially all of the Collateral from the Lien of this Indenture, the Notes and the Security Documents with respect to the Notes. 

  
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 It shall not be necessary for the consent of the holders under this Section 9.02 to approve
the particular form of any proposed amendment, but it shall be sufficient if such consent approves the substance thereof. 
 After an
amendment under this Section 9.02 becomes effective, the Issuer shall mail, or otherwise deliver in accordance with the procedures of the Depository, to the holders a notice briefly describing such amendment. The failure to give such notice to
all holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section 9.02. 

SECTION 9.03    Revocation and Effect of Consents and Waivers. 

(a)    A consent to an amendment or a waiver by a holder of a Note shall bind the holder and every subsequent holder of
that Note or portion of the Note that evidences the same debt as the consenting holder’s Note, even if notation of the consent or waiver is not made on the Note. However, any such holder or subsequent holder may revoke the consent or waiver as
to such holder’s Note or portion of the Note if the Trustee receives the notice of revocation before the date on which the Trustee receives an Officer’s Certificate from the Issuer certifying that the requisite principal amount of Notes
have consented. After an amendment or waiver becomes effective, it shall bind every holder. An amendment or waiver becomes effective upon the (i) receipt by the Issuer or the Trustee of consents by the holders of the requisite principal amount
of securities, (ii) satisfaction of conditions to effectiveness as set forth in this Indenture, the Security Documents, as applicable, and any indenture supplemental hereto containing such amendment or waiver and (iii) execution of such
amendment or waiver (or supplemental indenture) by the Issuer, the Trustee and the Priority Lien Collateral Trustee. 

(b)    The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the holders
entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the provisions of Section 9.03(a), those Persons who were
holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be holders
after such record date. No such consent shall be valid or effective for more than 120 days after such record date. 

SECTION 9.04    Notation on or Exchange of Notes. If an amendment, supplement or waiver changes the terms of a
Note, the Issuer may require the holder of the Note to deliver it to the Trustee. The Issuer may place an appropriate notation on the Note regarding the changed terms and return it to the holder. Alternatively, if the Issuer or the Trustee so
determine, the Issuer in exchange for the Note shall issue and, upon written order of the Issuer signed by an Officer, the Trustee shall authenticate a new Note that reflects the changed terms. Failure to make the appropriate notation or to issue a
new Note shall not affect the validity of such amendment, supplement or waiver. 
 SECTION 9.05    Trustee
and/or Priority Lien Collateral Trustee to Sign Amendments. The Trustee and Priority Lien Collateral Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article IX if the amendment does not adversely affect
the rights, duties, liabilities or immunities of the Trustee or Priority Lien Collateral 

  
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Trustee. If it does, the Trustee or Priority Lien Collateral Trustee may but need not sign it. In signing such amendment, the Trustee or Priority Lien Collateral Trustee shall be entitled to
receive indemnity satisfactory to it and shall be provided with, and (subject to Section 7.01) shall be fully protected in relying upon, (i) an Officer’s Certificate and an Opinion of Counsel, each stating that such amendment,
supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuer, enforceable against it in accordance with its terms, subject to customary
exceptions, and complies with the provisions hereof, (ii) a copy of the resolution of the Board of Directors, certified by the Secretary or Assistant Secretary of the Issuer, authorizing the execution of such amendment, supplement or waiver and
(iii) if such amendment, supplement or waiver is executed pursuant to Section 9.02, evidence of the consent of the holders required to consent thereto. 

SECTION 9.06    Additional Voting Terms; Calculation of Principal Amount. All Notes issued under this
Indenture shall vote and consent together on all matters (as to which any of such Notes may vote) as one class and no Notes will have the right to vote or consent as a separate class on any matter. Determinations as to whether holders of the
requisite aggregate principal amount of Notes have concurred in any direction, waiver or consent shall be made in accordance with this Article IX and Section 2.13. 

ARTICLE X 
 [Reserved]

 ARTICLE XI 

[Reserved] 
 ARTICLE XII

 GUARANTEE 

SECTION 12.01    Subsidiary Guarantee. 

(a)    Each Subsidiary Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees, on a senior
secured basis, as a primary obligor and not merely as a surety, to each holder, to the Trustee and to the Priority Lien Collateral Trustee and its successors and assigns (i) the performance and punctual payment when due, whether at Stated
Maturity, by acceleration or otherwise, of all obligations of the Issuer under this Indenture, the Notes and the Security Documents, whether for payment of principal of premium, if any, or interest on the Notes and all other monetary obligations of
the Issuer under this Indenture and the Notes and (ii) the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or other amounts owed by the Issuer
under this Indenture, the Notes and the Security Documents (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Subsidiary Guarantor further agrees that the Guaranteed Obligations may be
extended or renewed, in whole or in part, without notice or further assent from any Subsidiary Guarantor, and that each Subsidiary Guarantor shall remain bound under this Article XII notwithstanding any extension or renewal of any Guaranteed
Obligation. 

  
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 (b)    Each Subsidiary Guarantor waives presentation to, demand of payment
from and protest to the Issuer of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Subsidiary Guarantor waives notice of any default under the Notes or the Guaranteed Obligations. The obligations of each
Subsidiary Guarantor hereunder shall not be affected by (i) the failure of any holder, the Trustee or the Priority Lien Collateral Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person
under this Indenture, the Notes, the Security Documents or any other agreement or otherwise; (ii) any extension or renewal of this Indenture, the Notes, the Security Documents or any other agreement; (iii) any rescission, waiver, amendment
or modification of any of the terms or provisions of this Indenture, the Notes, the Security Documents or any other agreement; (iv) the release of any security held by any holder, the Trustee or the Priority Lien Collateral Trustee for the
Guaranteed Obligations or each Subsidiary Guarantor; (v) the failure of any holder, the Trustee or the Priority Lien Collateral Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi) any
change in the ownership of each Subsidiary Guarantor, except as provided in Section 12.02(b). Each Subsidiary Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided among the Subsidiary
Guarantors, such that such Subsidiary Guarantor’s obligations would be less than the full amount claimed. 

(c)    Each Subsidiary Guarantor hereby waives any right to which it may be entitled to have the assets of the Issuer
first be used and depleted as payment of the Issuer’s or such Subsidiary Guarantor’s obligations hereunder prior to any amounts being claimed from or paid by such Subsidiary Guarantor hereunder. Each Subsidiary Guarantor hereby waives any
right to which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Subsidiary Guarantor. 

(d)    Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein constitutes a guarantee of payment,
performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any holder, the Trustee or the Priority Lien Collateral Trustee to any security held for payment of the Guaranteed
Obligations. 
 (e)    The Subsidiary Guarantee of each Subsidiary Guarantor is, to the extent and in the manner set
forth in Article XII, equal in right of payment to all existing and future Priority Lien Obligations and all other senior Indebtedness of such Subsidiary Guarantor (including the ABL Lien Obligations), senior in right of payment to all existing
and future subordinated Indebtedness of such Subsidiary Guarantor. 
 (f)    Except as expressly set forth in
Sections 8.01(b), 12.02 and 12.06, the obligations of each Subsidiary 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, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the
generality of 

  
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the foregoing, the obligations of each Subsidiary Guarantor herein shall not be discharged or impaired or otherwise affected by the failure of any holder, the Trustee or the Priority Lien
Collateral Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Notes, the Security Documents or any other agreement, by any waiver or modification of any thereof, by any default, failure or delay, willful or
otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Subsidiary Guarantor or would otherwise operate
as a discharge of any Subsidiary Guarantor as a matter of law or equity. 
 (g)    Each Subsidiary Guarantor agrees that
its Subsidiary Guarantee shall remain in full force and effect until payment in full of all the Guaranteed Obligations. Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein shall continue to be effective or be reinstated
(together with any security interest securing such Subsidiary Guarantee), as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any
holder, the Trustee or the Priority Lien Collateral Trustee upon the bankruptcy or reorganization of the Issuer or such Subsidiary Guarantor or otherwise. 

(h)    In furtherance of the foregoing and not in limitation of any other right which any holder, the Trustee or the
Priority Lien Collateral Trustee has at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due,
whether at maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or
cause to be paid, in cash, to the holders, the Trustee or the Priority Lien Collateral Trustee an amount equal to the sum of (i) the unpaid principal amount of such Guaranteed Obligations, (ii) accrued and unpaid interest on such
Guaranteed Obligations (but only to the extent not prohibited by applicable law) and (iii) all other monetary obligations of the Issuer to the holders, the Trustee and the Priority Lien Collateral Trustee. 

(i)    Each Subsidiary Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the
holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Subsidiary Guarantor further agrees that, as between it, on the one hand, and the holders, the Trustee and the Priority Lien
Collateral Trustee, on the other hand, (i) the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article VI for the purposes of the Subsidiary Guarantee herein, notwithstanding any stay, injunction
or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii) in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article VI, such
Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by the Subsidiary Guarantors for the purposes of this Section 12.01. 

(j)    Each Subsidiary Guarantor also agrees to pay any and all costs and expenses (including reasonable out-of-pocket attorneys’ fees and expenses) incurred by the Trustee, the Priority Lien Collateral Trustee or any holder in enforcing any rights under this
Section 12.01. 

  
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 (k)    Upon request of the Trustee or the Priority Lien Collateral Trustee,
each Subsidiary Guarantor shall execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to carry out more effectively the purpose of this Indenture. 

SECTION 12.02    Limitation on Liability. 

(a)    Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the
Guaranteed Obligations guaranteed hereunder by each Subsidiary Guarantor shall not exceed the maximum amount that can be hereby guaranteed by the applicable Subsidiary Guarantor without rendering the Subsidiary Guarantee or this Indenture, as it
relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally or capital maintenance or corporate benefit rules applicable to
guarantees for obligations of affiliates. 
 (b)    A Subsidiary Guarantee as to any Restricted Subsidiary that is (or
becomes) a party hereto on the date hereof or that executes a supplemental indenture in accordance with Section 4.11 hereof and provides a guarantee shall terminate and be of no further force or effect and such Subsidiary Guarantee shall be
deemed to be automatically released from all obligations under this Article XII upon any of the following: 

(i)    the sale, disposition, exchange or other transfer (including through merger, consolidation,
amalgamation, dividend, distribution or otherwise) of the Capital Stock (in a sale, disposition, exchange or other transfer following which the applicable Subsidiary Guarantor is no longer a Restricted Subsidiary) of the applicable Subsidiary
Guarantor if such sale, disposition, exchange or other transfer is made in a manner not in violation of this Indenture or the Security Documents; 

(ii)    (i) the designation of such Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with
the provisions of Section 4.04 and the definition of Unrestricted Subsidiary or (ii) the occurrence of any other event following which such Subsidiary Guarantor is no longer a Restricted Subsidiary in a manner not in violation of this
Indenture or the Security Documents; 
 (iii)    the release or discharge of the guarantee by such
Subsidiary Guarantor of any other Indebtedness that resulted in the obligation to guarantee the Notes; 

(iv)    the Issuer’s exercise of its legal defeasance option or covenant defeasance option under
Article VIII or if the Issuer’s obligations under this Indenture are discharged in accordance with the terms of this Indenture; 

(v)    such Subsidiary ceasing to be a Subsidiary as a result of any foreclosure of any pledge or security
interest securing Secured Indebtedness or other exercise of remedies in respect thereof; 
 (vi)    the
occurrence of a Covenant Suspension Event; 

  
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 (vii)    upon the merger, amalgamation or consolidation of
such Subsidiary Guarantor with and into the Issuer or another Subsidiary Guarantor or upon the liquidation or dissolution of such Subsidiary Guarantor, in each case, in a manner not in violation of this Indenture; and 

(viii)    as set forth in Article IX of this Indenture. 

(c)    Upon any occurrence giving rise to a release of a Subsidiary Guarantee as specified in Section 12.02(b), if
the Issuer shall have delivered to the Trustee and the Priority Lien Collateral Trustee in accordance with Section 14.04 an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent herein provided for
relating to such transactions have been complied with and that such release is authorized and permitted hereunder, then the Trustee and the Priority Lien Collateral Trustee will execute any documents reasonably requested and prepared by the Issuer
in order to evidence or effect such release, discharge and termination in respect of such Subsidiary Guarantee and the applicable Subsidiary Guarantor’s obligations under this Indenture. Neither the Issuer nor any Subsidiary Guarantor will be
required to make a notation on the Notes to reflect any Subsidiary Guarantee or any such release, termination or discharge. 

SECTION 12.03    [Reserved]. 

SECTION 12.04    Successors and Assigns. This Article XII shall be binding upon each Subsidiary Guarantor
and its successors and assigns and shall inure to the benefit of the successors and assigns of the Trustee, the Priority Lien Collateral Trustee and the holders and, in the event of any transfer or assignment of rights by any holder, the Trustee or
the Priority Lien Collateral Trustee the rights and privileges conferred upon that party in this Indenture, the Notes and the Security Documents shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and
conditions of this Indenture. 
 SECTION 12.05    No Waiver. Neither a failure nor a delay on the part of
any of the Trustee, the Priority Lien Collateral Trustee or the holders in exercising any right, power or privilege under this Article XII shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or
further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee, the Priority Lien Collateral Trustee and the holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or
benefits which either may have under this Article XII at law, in equity, by statute or otherwise. 

SECTION 12.06    Modification. No modification, amendment or waiver of any provision of this Article XII,
nor the consent to any departure by any Subsidiary Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee and the Priority Lien Collateral Trustee, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle any Subsidiary Guarantor to any other or further notice or demand in the same, similar or other
circumstances. 
 SECTION 12.07    Execution of Supplemental Indenture for Future Subsidiary Guarantors.
Each Subsidiary which is required to become a Subsidiary Guarantor of the Notes 

  
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pursuant to Section 4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit C hereto pursuant to which such Subsidiary shall become
a Subsidiary Guarantor under this Article XII and shall guarantee the Notes. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee and the Priority Lien Collateral Trustee an
Opinion of Counsel that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a
proceeding at law or in equity, the Subsidiary Guarantee of such Subsidiary Guarantor is a valid and binding obligation of such Subsidiary Guarantor, enforceable against such Subsidiary Guarantor in accordance with its terms. 

SECTION 12.08    Non-Impairment. The failure to endorse a Subsidiary
Guarantee on any Note shall not affect or impair the validity thereof. 
 ARTICLE XIII 

COLLATERAL AND SECURITY 

SECTION 13.01    Security Interest. 

(a)    The due and punctual payment of the principal of, premium (if any) and interest, if any, on, the Notes when and as
the same shall be due and payable, whether on an Interest Payment Date, at maturity, by acceleration, repurchase, redemption or otherwise, and interest on the overdue principal of, premium (if any) and interest, if any, on the Notes and performance
of all other obligations of the Issuer and the Subsidiary Guarantors to the holders or the Trustee or the Priority Lien Collateral Trustee and the Notes (including, without limitation, the Subsidiary Guarantees), according to the terms hereunder or
thereunder, are secured as provided herein and in the Security Documents. 
 (b)    Each holder, by its acceptance of a
Note, consents and agrees to the terms of the Security Documents (including, without limitation, the provisions providing for foreclosure and release of Collateral) as the same may be in effect or may be amended from time to time in accordance with
their terms and authorizes and appoints Wilmington Trust, National Association as the Trustee and as the Priority Lien Collateral Trustee, and each holder directs the Trustee to enter (and to direct the Priority Lien Collateral Trustee to enter)
into the Security Documents, as applicable, and to perform its obligations and exercise its rights thereunder in accordance with the provisions thereof. Each of the Issuer and the Subsidiary Guarantors consents and agrees to be bound by the terms of
the Security Documents to which it is a party, as the same may be in effect from time to time, and agrees to perform its obligations thereunder in accordance therewith. 

(c)    The Issuer will deliver to the Trustee copies of all material documents delivered to the Priority Lien Collateral
Trustee pursuant to the Security Documents applicable to the Priority Lien Obligations, and will do or cause to be done all such acts and things as may be required by the provisions of the Security Documents, to assure and confirm to the Priority
Lien Collateral Trustee the security interest in the Collateral contemplated by the Security Documents or any part thereof, as from time to time constituted, so as to render such Collateral 

  
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available for the security and benefit of this Indenture, the Notes and the other Obligations hereunder. The Issuer will take, and will cause the Subsidiary Guarantors and the Issuer’s
Subsidiaries to take, any and all actions reasonably required to cause the Security Documents to create and maintain, as security for the Notes and Subsidiary Guarantees, a valid and enforceable perfected Lien in and on all the Collateral in favor
of the Priority Lien Collateral Trustee for the benefit of itself, the holders of the Notes and the Trustee, to the extent required by, and with the Lien priority required under, the Security Documents. 

SECTION 13.02    Security Agreement, ABL Intercreditor Agreement and Collateral Trust Agreement. This Article
XIII and the provisions of each other Security Document are subject to the terms, conditions and benefits set forth in the Security Agreement, the ABL Intercreditor Agreement and, upon entry into such document, the Collateral Trust Agreement. Each
of the Issuer and each Subsidiary Guarantor consents to, and agrees to be bound by, the terms of the Security Agreement, the ABL Intercreditor Agreement and, upon entry into such document, the Collateral Trust Agreement and the other Security
Documents, as the same may be in effect from time to time, and to perform its obligations thereunder in accordance therewith. Each holder of Notes, by its acceptance of a Note (a) agrees that it will be bound by, will take no actions contrary
to and shall not direct the Trustee or the Priority Lien Collateral Trustee to take any actions contrary to, the provisions of the Security Agreement, the ABL Intercreditor Agreement, the other Security Documents and, upon entry into such document,
the Collateral Trust Agreement, (b) authorizes and instructs the Trustee, on behalf of each holder of Notes Obligations, to execute and deliver the Security Agreement, and, upon entry into or the incurrence of any Priority Lien Debt or Junior
Lien Debt after the date hereof, the Collateral Trust Agreement (and to direct the Priority Lien Collateral Trustee to execute and deliver the Security Agreement, and, upon entry into or the incurrence of any Priority Lien Debt or Junior Lien Debt
after the date hereof, the Collateral Trust Agreement), to appoint the Priority Lien Collateral Trustee thereunder, and to perform its obligations thereunder as Priority Lien Representative and (c) authorizes and instructs the Priority Lien
Collateral Trustee to execute, deliver and perform its obligations under the Security Documents. 

SECTION 13.03    Priority Lien Collateral Trustee. 

(a)    Wilmington Trust, National Association will initially act as the Priority Lien Collateral Trustee for the benefit of
the holders of the Notes and all other Priority Lien Obligations outstanding from time to time. 
 (b)    Such Person
nominated by the holders of the Junior Lien Obligations will act as the Junior Collateral Trustee for the benefit of the holders of all Junior Lien Obligations outstanding from time to time 

(c)    Neither the Issuer nor any of its Affiliates may act as Priority Lien Collateral Trustee. 

(d)    Each of the Priority Lien Collateral Trustee and the Junior Lien Collateral Trustee (if any) shall hold (directly
or through co-trustees or agents), and will be entitled to enforce, all Liens on the Collateral created by the Security Documents. 

  
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 (e)    Except as provided in the Security Documents to which the Priority
Lien Collateral Trustee is a party or Collateral Trust Agreement (to the extent effective at the relevant time)) or as directed by an Act of Required Secured Parties in accordance with and subject to the Collateral Trust Agreement (to the extent
effective at the relevant time) (or, from and after a standstill period in accordance with the Collateral Trust Agreement, as directed by the Required Junior Lien Debtholders in accordance with the Collateral Trust Agreement), the Priority Lien
Collateral Trustee shall not be obligated: 
 (i)    to act upon directions purported to be delivered to
it by any Person; 
 (ii)    to foreclose upon or otherwise enforce any Lien; or 

(iii)    to take any other action whatsoever with regard to any or all of the Security Documents, the Liens
created thereby or the Collateral. 
 The Issuer will deliver to each Secured Debt Representative copies of all Security Documents delivered
to the Priority Lien Collateral Trustee acting for the benefit of such Secured Debt Representative. 

SECTION 13.04    Release of Liens on Collateral. The Priority Lien Collateral Trustee’s Liens on the
Collateral will be released at any time or from time to time in any one or more of the circumstances described in the Security Documents, the ABL Intercreditor Agreement or the Collateral Trust Agreement (to the extent effective at the relevant
time) or as set forth in Section 13.05 with respect to the Notes. 
 SECTION 13.05    Release of Liens in
Respect of Notes. The Priority Lien Collateral Trustee’s Liens upon the Collateral will no longer secure the Notes outstanding under this Indenture or any other Obligations under this Indenture, and the right of the holders and such
Obligations to the benefits and proceeds of the Priority Lien Collateral Trustee’s Liens on the Collateral will terminate and be discharged and the Issuer and the Subsidiary Guarantors will be entitled to the release of assets included in the
Collateral from the Liens securing the Notes and the Subsidiary Guarantees, and the Trustee shall (or, if the Trustee is not then the Priority Lien Collateral Trustee, shall direct the Priority Lien Collateral Trustee to), upon written request of
the Issuer, together with (a) an Officer’s Certificate and (b) solely to the extent of a release of all or substantially all of the Collateral, an Opinion of Counsel, in each case stating that all conditions precedent to the release
thereof have been satisfied, execute such release documents as the Issuer shall request and prepare under any one or more of the following circumstances without the need for any further action by any Person: 

(a)    upon the satisfaction and discharge of this Indenture, in accordance with Article VIII hereof; 

(b)    upon a Legal Defeasance or Covenant Defeasance of the Notes in accordance with Article VIII hereof; 

(c)    upon payment in full and discharge of all Notes outstanding under this Indenture and all Obligations that are
outstanding, due and payable under this Indenture at the time the Notes are paid in full and discharged; 

  
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 (d)    in whole or in part, with the consent of the holders of the requisite
percentage of the Notes in accordance with Article IX hereof; 
 (e)    solely with respect to ABL Priority Collateral,
if and to the extent required by, or deemed to have been released pursuant to, the ABL Intercreditor Agreement; 

(f)    with respect to the assets of any Subsidiary Guarantor, at the time such Guarantor is released from its Subsidiary
Guarantee in accordance with Section 12.02(b); 
 (g)    in part, as to any asset constituting Collateral that is
sold, transferred or otherwise disposed of by the Issuer or the Grantors to a Person that is not (either before or after such sale, transfer or disposition) the Issuer or a Restricted Subsidiary of the Issuer in a transaction or other circumstance
permitted by the Secured Debt Documents; provided that the Priority Lien Collateral Trustee’s Liens upon the Collateral will not be released if the sale or disposition is subject to Article V; 

(h)    in part, (other than pursuant to clause (g) above), if directed by an Act of Required Secured Parties; 

(i)    as to a release of all or substantially all of the Collateral (other than pursuant to clause (c) above), if
consent to release of that Collateral has been given by the requisite percentage or number of holders of each Series of Priority Lien Debt and Series of Junior Lien Debt (if any) at the time outstanding as provided for in the applicable Secured Debt
Documents; 
 (j)    as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court
of competent jurisdiction; and 
 (k)    to the extent set forth in the Collateral Trust Agreement. 

SECTION 13.06    Equal and Ratable Sharing of Collateral by Holders of Priority Lien Debt. Notwithstanding:

 (a)    anything to the contrary contained in the Security Documents; 

(b)    the time of incurrence of any class of Priority Lien Debt or class of Junior Lien Debt; 

(c)    the order or method of attachment or perfection of any Liens securing any class of Priority Lien Debt; 

(d)    the time or order of filing or recording of financing statements, mortgages or other documents filed or recorded to
perfect any Lien upon any Collateral; 
 (e)    the time of taking possession or control over any Collateral; 

(f)    that any Priority Lien may not have been perfected or may be or have become subordinated, by equitable
subordination or otherwise, to any other Lien; or 

  
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 (g)    the rules for determining priority under any law governing relative
priorities of Liens: 
 (i)    all Priority Liens granted at any time by the Issuer or any Subsidiary
Guarantor will secure, equally and ratably, all present and future Priority Lien Obligations (including the Notes); and 

(ii)    all proceeds of all Priority Liens granted at any time by the Issuer or any Subsidiary Guarantor
will be allocated and distributed equally and ratably on account of the Priority Lien Debt and other Priority Lien Obligations and, in each case, in accordance with the applicable Priority Lien Documents. 

In addition, this Section 13.06 is intended for the benefit of, and shall be enforceable as a third party beneficiary by, each present
and future holder of Priority Lien Obligations, each present and future Priority Lien Representative and the Priority Lien Collateral Trustee as holder of Priority Liens. The Priority Lien Representative of each future class of Priority Lien Debt
shall be required to deliver a Lien sharing and priority confirmation to the Priority Lien Collateral Trustee and the Trustee at the time of incurrence of such Series of Priority Lien Debt. 

SECTION 13.07    Relative Rights. Nothing in this Indenture, the Notes or the Security Documents will: 

(a)    impair, as to the Issuer and the holders of the Notes, the obligation of the Issuer to pay principal of, premium
and interest on the Notes in accordance with their terms or any other obligation of the Issuer or any other Grantor; 

(b)    affect the relative rights of holders of the Notes as against any other creditors of the Issuer or any other
Grantor (other than holders of Priority Liens, Junior Liens or ABL Liens); 
 (c)    restrict the right of any holders
of the Notes to sue for payments that are then due and owing (but not enforce any judgment in respect thereof against any Collateral to the extent prohibited by the Collateral Trust Agreement (to the extent effective at the relevant time) or the ABL
Intercreditor Agreement); 
 (d)    restrict or prevent any holder of the Notes or other Priority Lien Obligations, the
Priority Lien Collateral Trustee or any Priority Lien Representative from exercising any of its rights or remedies upon a Default or Event of Default not restricted or prohibited by the Collateral Trust Agreement (to the extent effective at the
relevant time) or the ABL Intercreditor Agreement; or 
 (e)    restrict or prevent any holder of Junior Lien
Obligations, the Junior Lien Collateral Trustee or any Junior Lien Representative from taking any lawful action in an Insolvency Proceeding not specifically restricted or prohibited by the Collateral Trust Agreement (to the extent effective at the
relevant time) or ABL Intercreditor Agreement. 

  
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 SECTION 13.08    Further Assurances; Insurance. The Issuer and
each of the other Grantors shall cause to be done all acts and things that may be required, or that the Controlling Representative or the Priority Lien Collateral Trustee from time to time may reasonably request, to assure and confirm that the
Priority Lien Collateral Trustee holds, for the benefit of the Secured Parties, duly created and enforceable and perfected Liens upon the Collateral (including any property or assets that are acquired or otherwise become, or are required by any
Secured Debt Document to become, Collateral after the Notes are issued), in each case, as and to the extent contemplated by, and with the Lien priority required under, the Secured Debt Documents. 

The Issuer and each of the other Grantors shall promptly execute, acknowledge and deliver such Security Documents, instruments, certificates,
notices and other documents, and take such other actions as shall be reasonably required, or that the Controlling Representative or the Priority Lien Collateral Trustee may reasonably request, to create, perfect, protect, assure or enforce the Liens
and benefits intended to be conferred, in each case as contemplated by the Secured Debt Documents for the benefit of the Secured Parties; it being understood that none of the Priority Lien Collateral Trustee, the Controlling Representative or any
Secured Debt Representative shall have a duty to so request. 
 The Issuer and the Grantors shall: 

(a)    keep their properties adequately insured at all times by financially sound and reputable insurers; 

(b)    maintain such other insurance, to such extent and against such risks (and with such deductibles, retentions and
exclusions), including fire and other risks insured against by extended coverage and coverage for acts of terrorism, as is customary with companies in the same or similar businesses operating in the same or similar locations, including public
liability insurance against claims for personal injury or death or property damage occurring upon, in, about or in connection with the use of any properties owned, occupied or controlled by them; 

(c)    maintain such other insurance as may be required by law; and 

(d)    maintain such other insurance as may be required by the Security Documents. 

Upon the request of the Priority Lien Collateral Trustee, the Issuer and the Subsidiary Guarantors shall furnish to the Priority Lien
Collateral Trustee full information as to their property and liability insurance carriers. 

SECTION 13.09    Intercreditor Agreements. The Priority Lien Collateral Trustee is and the Trustee, as
applicable, are hereby directed and authorized to enter into any intercreditor agreement on behalf of, and binding with respect to, the holders of the Notes and their interest in designated assets, in connection with the incurrence of any ABL Debt
or Secured Debt, including to clarify the respective rights of all parties in and to designated assets, including without limitation the ABL Intercreditor Agreement. The Priority Lien Collateral Trustee shall enter into the ABL Intercreditor
Agreement and the Priority Lien Collateral Trustee and Trustee, as applicable, shall enter into any other intercreditor agreement at the request of the Issuer, 

  
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 provided that (in the case of such intercreditor agreement other than the ABL Intercreditor Agreement) the
Issuer will have delivered to the Priority Lien Collateral Trustee and the Trustee an Officer’s Certificate to the effect that such other intercreditor agreement complies with the provisions of this Indenture, the Notes and the Security
Documents. The Priority Lien Collateral Trustee and the Trustee, as applicable, each agrees to execute and deliver any amendment to, waiver of, or supplement to any Security Document or intercreditor agreement authorized pursuant to Article IX,
subject to the Priority Lien Collateral Trustee’s and the Trustee’s rights thereunder. 

SECTION 13.10    Duties of Trustee as Priority Lien Representative. 

(a)    The Trustee, as Priority Lien Representative for the Notes, is authorized and directed to enter into the Security
Agreement and, if applicable, the Collateral Trust Agreement to appoint Wilmington Trust, National Association to act as the initial Priority Lien Collateral Trustee. The Trustee shall not be obligated to take any action (or to direct the Priority
Lien Collateral Trustee to take any action) under the Collateral Trust Agreement (to the extent effective at the relevant time) or any other Security Document for the Notes without the written direction of the requisite percentage of the holders of
the Notes and may request the direction of the holders of a majority in aggregate principal amount of the outstanding Notes (or the minimum consent for such action required under this Indenture) with respect to any such actions and, upon receipt of
the written consent of the holders of a majority in aggregate principal amount of the outstanding Notes (or the minimum consent for such action required under this Indenture) along with security and indemnity satisfactory to the Trustee and the
Priority Lien Collateral Trustee, shall take such actions. 
 (b)    Neither the Trustee nor any of its officers,
directors, employees, attorneys or agents shall be responsible or liable (i) for the legality, enforceability, effectiveness or sufficiency of the Security Documents, for the creation, perfection, priority, sufficiency, maintenance, renewal or
protection of any Lien, or for any defect or deficiency as to any such matters, or (ii) for any failure to demand, collect, foreclose or realize upon or otherwise enforce any of the Liens or Security Documents or any delay in doing so, or
(iii) for the validity or sufficiency of the Collateral or any agreement or assignment contained therein, for the validity of the title, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral
or otherwise as to the maintenance of the Collateral. 
 (c)    The rights, privileges, protections, immunities and
benefits given to the Trustee and the Priority Lien Collateral Trustee under this Indenture, including, without limitation, its right to be indemnified and compensated and all other rights, privileges, protections, immunities and benefits set forth
in this Indenture are extended to the Trustee and the Priority Lien Collateral Trustee when acting in such capacity under the Collateral Trust Agreement (to the extent effective at the relevant time), the ABL Intercreditor Agreement and the other
Security Documents. 
 (d)    The Trustee will not be responsible for filing any financing or continuation statements or
recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any Liens on the Collateral. 

  
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 (e)    Whenever an action under the Collateral Trust Agreement requires an
Act of Required Secured Parties, the Trustee, in its capacity as Priority Lien Representative, shall be entitled to seek the direction of holders of the Notes. Subject to the next succeeding sentence, if the minimum consent or directions of holders
of the Notes for such action required by Sections 6.05 or 9.02 or otherwise under this Indenture are met, the Trustee shall deliver a written direction to the Priority Lien Collateral Trustee on behalf of the holders of the Notes (i) directing
such Act of Required Secured Parties and (ii) notifying the Priority Lien Collateral Trustee of the aggregate principal amount of the Notes consenting or directing such action (it being agreed that if the requisite percentage of consent or
direction is received by the Trustee, the Trustee shall consent or direct such action on behalf of all of the then outstanding aggregate principal amount of the Notes), which upon request of the Priority Lien Collateral Trustee, shall be accompanied
by indemnity or security acceptable to the Priority Lien Collateral Trustee for any losses, liability or expenses that may be incurred in connection with such direction (it being understood that the Trustee, in its individual capacity, shall not be
obligated to provide such indemnity or security). Notwithstanding the foregoing, if the requested action requires the consent or direction of each holder of the Notes affected thereby, then the Trustee shall not deliver a direction to the Priority
Lien Collateral Trustee in such Act of Required Secured Parties unless a unanimous consent is obtained for the holders of the Notes. For purposes of determining the consent or direction of holders of the Notes for an action under the Collateral
Trust Agreement that requires an Act of Required Secured Parties, the Notes registered in the name of, or beneficially owned by, the Issuer or any Affiliate of the Issuer will be deemed not to be outstanding and neither the Issuer nor any Affiliate
of the Issuer will be entitled to vote such Notes and the Issuer shall notify the Trustee and the Priority Lien Collateral Trustee in writing whether any Notes are owned by it or any of its Affiliates, and only Notes the Issuer notifies the Trustee
or the Priority Lien Collateral Trustee, as applicable, that it or its Affiliates owns shall be so disregarded. 
 ARTICLE XIV 

MISCELLANEOUS 

SECTION 14.01    [Reserved]. 

SECTION 14.02    Notices. 

(a)    Any notice or communication required or permitted hereunder shall be in writing and delivered in person, via
facsimile or mailed by first-class mail addressed as follows: 
 if to the Issuer or a Subsidiary Guarantor: 

c/o Warrior Met Coal, Inc. 

16243 Highway 216 
 Brookwood,
AL 35444 
 Attention: Mitchell Mataya 

Email: Mitchell.mataya@warriormetcoal.com 

  
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and 
 Akin Gump Strauss Hauer & Feld LLP 

One Bryant Park 
 Bank of
America Tower 
 New York, NY 10036-6745 

Attention: Rosa Testani 
 Fax: 212-872-1002 
 Email: rtestani@akingump.com 

if to the Trustee: 
 Wilmington
Trust, National Association 
 Global Capital Markets 

50 South Sixth Street, Suite 1290 

Minneapolis, MN 55402 

Attention: Warrior Met Coal, Inc. Administrator 

Fax: 612-217-5651 

The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 

(b)    Any notice or communication mailed to a holder shall be mailed, first class mail, to the holder at the
holder’s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 

(c)    Failure to mail a notice or communication to a holder or any defect in it shall not affect its sufficiency with
respect to other holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. 

The Trustee may, in its sole discretion, agree to accept and act upon instructions or directions pursuant to this Indenture sent by e-mail, facsimile transmission or other similar electronic methods. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a similar
electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses, costs or expenses arising
directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing electronic instructions
agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and the risk or interception
and misuse by third parties. 
 Notwithstanding anything to the contrary contained herein, as long as the Notes are in the form of a Global
Note, notice to the holders may be made electronically in accordance with procedures of the Depository. 

  
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 SECTION 14.03    [Reserved]. 

SECTION 14.04    Certificate and Opinion as to Conditions Precedent. Upon any request or application by the
Issuer to the Trustee to take or refrain from taking any action under this Indenture or any Security Document, the Issuer shall furnish to the Trustee at the request of the Trustee: 

(a)    an Officer’s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the
signers, all conditions precedent, if any, provided for in this Indenture or any Security Document, as the case may be, relating to the proposed action have been complied with; and 

(b)    an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel,
all such conditions precedent have been complied with. 
 SECTION 14.05    Statements Required in Certificate or
Opinion. Each certificate or opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section 4.09) shall include: 

(a)    a statement that the individual making such certificate or opinion has read such covenant or condition; 

(b)    a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate or opinion are based; 
 (c)    a statement that, in the opinion of such
individual, he has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(d)    a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied
with; provided, however, that with respect to matters of fact an Opinion of Counsel may rely on an Officer’s Certificate or certificates of public officials. 

SECTION 14.06    When Notes Disregarded. In determining whether the holders of the required principal amount
of Notes have concurred in any direction, waiver or consent, Notes owned by the Issuer, the Subsidiary Guarantors or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any
Subsidiary Guarantor shall be disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes which the Trustee actually
knows are so owned shall be so disregarded. Subject to the foregoing, only Notes outstanding at the time shall be considered in any such determination. 

SECTION 14.07    Rules by Trustee, Paying Agent and Registrar. The Trustee may make reasonable rules for
action by or a meeting of the holders. The Registrar and a Paying Agent may make reasonable rules for their functions. 

  
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 SECTION 14.08    Legal Holidays. If a payment date is not a
Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the intervening period. If a
regular Record Date is not a Business Day, the Record Date shall not be affected. If performance of any covenant, duty or obligation is required on a date which is not a Business Day, performance shall not be required until the next succeeding day
that is a Business Day. 
 SECTION 14.09    GOVERNING LAW; Consent to Jurisdiction. 

(a)    THIS INDENTURE, THE NOTES AND THE SUBSIDIARY GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK. 
 (b)    The parties irrevocably submit to the
non-exclusive jurisdiction of any New York State or federal court sitting in the Borough of Manhattan, City of New York, over any suit, action or proceeding arising out of or relating to this
Indenture. To the fullest extent permitted by applicable law, each party irrevocably waives and agrees not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject to the jurisdiction of any such court, any objection
that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding brought in any such court and any claim that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum.

 SECTION 14.10    No Recourse Against Others. No director, officer, employee, manager, incorporator or
holder of any Equity Interests in the Issuer or any Subsidiary Guarantor or any direct or indirect parent companies, as such, shall have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, the Subsidiary
Guarantees or this Indenture, as applicable, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are
part of the consideration for issuance of the Notes. 
 SECTION 14.11    Successors. All agreements of the
Issuer and the Subsidiary Guarantors in this Indenture and the Notes shall bind such person’s successors. All agreements of the Trustee in this Indenture shall bind its successors. 

SECTION 14.12    Multiple Originals. The parties may sign any number of copies of this Indenture. Each signed
copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. 

SECTION 14.13    Table of Contents; Headings. The table of contents, cross-reference sheet and headings of the
Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. 

SECTION 14.14    Indenture Controls. If and to the extent that any provision of the Notes limits, qualifies or
conflicts with a provision of this Indenture, such provision of this Indenture shall control. 

  
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 SECTION 14.15    Severability. In case any provision in this
Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. 
 SECTION 14.16    Waiver of Jury Trial. EACH OF THE ISSUER,
THE SUBSIDIARY GUARANTORS AND THE TRUSTEE HEREBY (AND EACH HOLDER OF A NOTE BY ITS ACCEPTANCE THEREOF) IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF
OR RELATING TO THIS INDENTURE, THE NOTES OR THE TRANSACTION CONTEMPLATED HEREBY. 

SECTION 14.17    Calculations. The Issuer will be responsible for making all calculations called for under
this Indenture or the Notes. The Issuer will make all such calculations in good faith and, absent manifest error, its calculations will be final and binding on holders. The Issuer will provide a schedule of its calculations to the Trustee and the
Trustee is entitled to rely conclusively upon the accuracy of such calculations without independent verification. The Trustee will deliver a copy of such schedule to any holder upon the written request of such holder. 

SECTION 14.18    USA Patriot Act. The parties hereto acknowledge that in accordance with Section 326 of
the USA Patriot Act, the Trustee and the Priority Lien Collateral Trustee, like all financial institutions and in order to help fight the funding of terrorism and money laundering, is required to obtain, verify, and record information that
identifies each person or legal entity that establishes a relationship or opens an account with the Trustee or the Priority Lien Collateral Trustee. The parties to this Indenture agree that they will provide the Trustee with such information as it
may request in order for the Trustee and the Priority Lien Collateral Trustee, as applicable, to satisfy the requirements of the USA Patriot Act. 

[Remainder of page intentionally left blank.] 

  
 151 

 IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. 
  

			
	WARRIOR MET COAL, INC.
		
	By:	 	 /s/ Dale W. Boyles

	Name:	 	Dale W. Boyles
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
			
	WARRIOR MET COAL INTERMEDIATE HOLDCO, LLC
	By: Warrior Met Coal, Inc., its sole member and manager
		
	By	 	 /s/ Dale W. Boyles

	Name:	 	Dale W. Boyles
	Title:	 	Chief Financial Officer
	
	WARRIOR MET COAL GAS, LLC
	WARRIOR MET COAL MINING, LLC
	WARRIOR MET COAL TRI, LLC
	WARRIOR MET COAL BCE, LLC
	WARRIOR MET COAL LAND, LLC
	WARRIOR MET COAL WV, LLC
	WARRIOR MET COAL LA, LLC
		
	By	 	 /s/ Dale W. Boyles

	Name:	 	Dale W. Boyles
	Title:	 	Chief Financial Officer

  
 [Signature Page to
Indenture] 

 
			
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Trustee
		
	By:	 	 /s/ Jane Schweiger

	Name:	 	Jane Schweiger
	Title:	 	Vice President
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Priority Lien Collateral Trustee
		
	By:	 	 /s/ Jane Schweiger

	Name:	 	Jane Schweiger
	Title:	 	Vice President

  
 [Signature Page to
Indenture] 

 APPENDIX A 

PROVISIONS RELATING TO INITIAL NOTES AND ADDITIONAL NOTES 

1.    Definitions. 

1.1    Definitions. 

For the purposes of this Appendix A the following terms shall have the meanings indicated below: 

“Definitive Note” means a certificated Initial Note or Additional Note (bearing the Restricted Notes Legend if the transfer
of such Note is restricted by applicable law) that does not include the Global Notes Legend. 
 “Depository” means The
Depository Trust Company, its nominees and their respective successors. 
 “Global Notes Legend” means the legend set forth
under that caption in Exhibit A to the Indenture. 
 “IAI” means an institutional “accredited investor” as
described in Rule 501(a)(1), (2), (3) or (7) under the Securities Act. 
 “Notes Custodian” means the custodian with
respect to a Global Note (as appointed by the Depository) or any successor person thereto, who shall initially be the Trustee. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Regulation S” means Regulation S under the Securities Act. 

“Regulation S Notes” means all Initial Notes offered and sold outside the United States in reliance on Regulation S. 

“Restricted Notes Legend” means the legend set forth in Section 2.2(f)(i) herein. 

“Restricted Period,” with respect to any Notes, means the period of 40 consecutive days beginning on and including the later
of (a) the day on which such Notes are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the Issuer to the Trustee,
and (b) the Issue Date, and with respect to any Additional Notes that are Transfer Restricted Notes, it means the comparable period of 40 consecutive days. 

“Rule 144A” means Rule 144A under the Securities Act. 

“Rule 144A Notes” means all Initial Notes initially offered and sold to QIBs in reliance on Rule 144A. 

  
 Appendix A-1 

 “Rule 501” means Rule 501(a)(1), (2), (3) or (7) under the Securities Act.

 “Transfer Restricted Definitive Notes” means Definitive Notes that bear or are required to bear or are subject to the
Restricted Notes Legend. 
 “Transfer Restricted Global Notes” means Global Notes that bear or are required to bear or are
subject to the Restricted Notes Legend. 
 “Transfer Restricted Notes” means the Transfer Restricted Definitive Notes and
Transfer Restricted Global Notes. 
 “Unrestricted Definitive Notes” means Definitive Notes that are not required to bear,
or are not subject to, the Restricted Notes Legend. 
 “Unrestricted Global Notes” means Global Notes that are not required
to bear, or are not subject to, the Restricted Notes Legend. 
 1.2    Other Definitions. 

 

			
	Term:	  	Defined in Section:
	 Agent Members
	  	2.1(b)
	 Global Notes
	  	2.1(b)
	 Regulation S Global Notes
	  	2.1(b)
	 Rule 144A Global Notes
	  	2.1(b)

 2.    The Notes. 

2.1    Form and Dating; Global Notes. 

(a)    The Initial Notes issued on the date hereof will be (i) privately placed by the Issuer pursuant to the Offering
Circular and (ii) sold, initially only to (1) QIBs in reliance on Rule 144A and (2) Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Initial Notes may thereafter be transferred to, among
others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. One or more Rule 144A Notes may be issued with a separate CUSIP number for purposes of transfers of Notes to IAIs in accordance
with Rule 501. Additional Notes offered after the date hereof may be offered and sold by the Issuer from time to time pursuant to one or more agreements in accordance with applicable law. 

(b)    Global Notes. (i) Except as provided in clause (d) of Section 2.2 below, Rule 144A Notes
initially shall be represented by one or more Notes in definitive, fully registered, global form without interest coupons (collectively, the “Rule 144A Global Notes”). 

Regulation S Notes initially shall be represented by one or more Notes in fully registered, global form without interest coupons
(collectively, the Regulation S Global Notes”), which shall be registered in the name of the Depository or the nominee of the Depository for the accounts of designated agents holding on behalf of Euroclear Bank S.A./N.V., as operator of
the Euroclear system (“Euroclear”) or Clearstream Banking, Société Anonyme (“Clearstream”). 

  
 Appendix A-2 

 The provisions of the “Operating Procedures of the Euroclear System” and “Terms
and Conditions Governing Use of Euroclear” and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream shall be applicable to transfers of beneficial interests in the Regulation S
Global Notes that are held by participants through Euroclear or Clearstream. 
 The term “Global Notes” means the Rule 144A
Global Notes and the Regulation S Global Notes. The Global Notes shall bear the Global Note Legend. The Global Notes initially shall (i) be registered in the name of the Depository or the nominee of such Depository, in each case for credit to
an account of an Agent Member, (ii) be delivered to the Trustee as custodian for such Depository and (iii) bear the Restricted Notes Legend. 

Members of, or direct or indirect participants in, the Depository (collectively, the “Agent Members”) shall have no rights
under the Indenture with respect to any Global Note held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Notes. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the
Trustee as the absolute owner of the Global Notes for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written
certification, proxy or other authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a holder of any Note. 

(ii)    Transfers of Global Notes shall be limited to transfer in whole, but not in part, to the
Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Notes may be transferred or exchanged for Definitive Notes only in accordance with the applicable rules and procedures of the Depository and the
provisions of Section 2.2. In addition, a Global Note shall be exchangeable for Definitive Notes if (x) the Depository (1) notifies the Issuer that it is unwilling or unable to continue as depository for such Global Note and the
Issuer thereupon fails to appoint a successor depository or (2) has ceased to be a clearing agency registered under the Exchange Act or (y) there shall have occurred and be continuing an Event of Default with respect to such Global Note
and a request has been made for such exchange. In all cases, Definitive Notes delivered in exchange for any Global Note or beneficial interests therein shall be registered in the names, and issued in any approved denominations, requested by or on
behalf of the Depository in accordance with its customary procedures. 
 (iii)    In connection with the
transfer of a Global Note as an entirety to beneficial owners pursuant to subsection (i) of this Section 2.1(b), such Global Note shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and, upon
written order of the Issuer signed by an Officer, the Trustee shall authenticate and make available for delivery, to each beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Note, an equal
aggregate principal amount of Definitive Notes of authorized denominations. 
 (iv)    Any Transfer
Restricted Note delivered in exchange for an interest in a Global Note pursuant to Section 2.2 shall, except as otherwise provided in Section 2.2, bear the Restricted Notes Legend. 

  
 Appendix A-3 

 (v)    Notwithstanding the foregoing, through the Restricted
Period, a beneficial interest in a Regulation S Global Note may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section 2.2. 

(vi)    The holder of any Global Note may grant proxies and otherwise authorize any Person, including Agent
Members and Persons that may hold interests through Agent Members, to take any action which a holder is entitled to take under the Indenture or the Notes. 

2.2    Transfer and Exchange. 

(a)    Transfer and Exchange of Global Notes. A Global Note may not be transferred as a whole except as set forth in
Section 2.1(b). Global Notes will not be exchanged by the Issuer for Definitive Notes except under the circumstances described in Section 2.1(b)(ii). Global Notes also may be exchanged or replaced, in whole or in part, as provided in
Section 2.08 of the Indenture. Beneficial interests in a Global Note may be transferred and exchanged as provided in Section 2.2(b). 

(b)    Transfer and Exchange of Beneficial Interests in Global Notes. The transfer and exchange of beneficial
interests in the Global Notes shall be effected through the Depository, in accordance with the provisions of the Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer Restricted Global Notes shall be
subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Notes shall be transferred or exchanged only for beneficial interests in Global Notes. Transfers
and exchanges of beneficial interests in the Global Notes also shall require compliance with either subparagraph (i) or (ii) below, as applicable, as well as one or more of the other following subparagraphs, as applicable: 

(i)    Transfer of Beneficial Interests in the Same Global Note. Beneficial interests in any
Transfer Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Transfer Restricted Global Note in accordance with the transfer restrictions set forth in the Restricted Notes
Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Note may not be made to a U.S. Person or for the account or benefit of a U.S. Person. A
beneficial interest in an Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to
the Registrar to effect the transfers described in this Section 2.2(b)(i). 
 (ii)    All Other
Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests in any Global Note that is not subject to Section 2.2(b)(i), the transferor of such beneficial interest
must deliver to the Registrar (1) a written order from an Agent Member given to the Depository in accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial
interest in another 

  
 Appendix A-4 

 
Global Note in an amount equal to the beneficial interest to be transferred or exchanged and (2) instructions given in accordance with the applicable rules and procedures of the Depository
containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in the Indenture and the Notes or
otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note pursuant to Section 2.2(g). 

(iii)    Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest
in a Transfer Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Transfer Restricted Global Note if the transfer complies with the requirements of Section 2.2(b)(ii)
above and the Registrar receives the following: 
 (A)    if the transferee will take delivery in the
form of a beneficial interest in a Rule 144A Global Note, then the transferor must deliver a certificate in the form attached to the applicable Note; and 

(B)    if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global
Note, then the transferor must deliver a certificate in the form attached to the applicable Note. 

(iv)    Transfer and Exchange of Beneficial Interests in a Transfer Restricted Global Note for
Beneficial Interests in an Unrestricted Global Note. A beneficial interest in a Transfer Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes
delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.2(b)(ii) above and the Registrar receives the following: 

(A)    if the holder of such beneficial interest in a Transfer Restricted Global Note proposes to exchange
such beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form attached to the applicable Note; or 

(B)    if the holder of such beneficial interest in a Transfer Restricted Global Note proposes to transfer
such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form attached to the applicable Note, 

and, in each such case, if the Issuer or the Registrar so request or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Notes Legend are no
longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv) at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall

  
 Appendix A-5 

 
issue and, upon receipt of a written order of the Issuer in the form of an Officer’s Certificate in accordance with Section 2.01 of the Indenture, the Trustee shall authenticate one or
more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this subparagraph (iv). 

(v)    Transfer and Exchange of Beneficial Interests in an Unrestricted Global Note for Beneficial
Interests in a Transfer Restricted Global Note. Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Transfer Restricted
Global Note. 
 (c)    Transfer and Exchange of Beneficial Interests in Global Notes for Definitive Notes. A
beneficial interest in a Global Note may not be exchanged for a Definitive Note except under the circumstances described in Section 2.1(b)(ii). A beneficial interest in a Global Note may not be transferred to a Person who takes delivery thereof
in the form of a Definitive Note except under the circumstances described in Section 2.1(b)(ii). In any case, beneficial interests in Global Notes shall be transferred or exchanged only for Definitive Notes. 

(d)    Transfer and Exchange of Definitive Notes for Beneficial Interests in Global Notes. Transfers and exchanges
of Definitive Notes for beneficial interests in the Global Notes also shall require compliance with either subparagraph (i), (ii) or (iii) below, as applicable: 

(i)    Transfer Restricted Definitive Notes to Beneficial Interests in Transfer Restricted Global
Notes. If any holder of a Transfer Restricted Definitive Note proposes to exchange such Transfer Restricted Definitive Note for a beneficial interest in a Transfer Restricted Global Note or to transfer such Transfer Restricted Definitive Note to
a Person who takes delivery thereof in the form of a beneficial interest in a Transfer Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 

(A)    if the holder of such Transfer Restricted Definitive Note proposes to exchange such Transfer
Restricted Note for a beneficial interest in a Transfer Restricted Global Note, a certificate from such holder in the form attached to the applicable Note; 

(B)    if such Transfer Restricted Definitive Note is being transferred to a QIB in accordance with Rule
144A under the Securities Act, a certificate from such holder in the form attached to the applicable Note; 

(C)    if such Transfer Restricted Definitive Note is being transferred to a
non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate from such holder in the form attached to the applicable Note; 

(D)    if such Transfer Restricted Definitive Note is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such holder in the form attached to the applicable Note; 

  
 Appendix A-6 

 (E)    if such Transfer Restricted Definitive Note is being
transferred to an IAI in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate from such holder in the form attached to the applicable
Note, including the certifications, certificates and Opinion of Counsel, if applicable; or 
 (F)    if
such Transfer Restricted Definitive Note is being transferred to the Issuer or a Subsidiary thereof, a certificate from such holder in the form attached to the applicable Note; 

the Trustee shall cancel the Transfer Restricted Definitive Note, and increase or cause to be increased the aggregate principal amount of the
appropriate Transfer Restricted Global Note. 
 (ii)    Transfer Restricted Definitive Notes to
Beneficial Interests in Unrestricted Global Notes. A holder of a Transfer Restricted Definitive Note may exchange such Transfer Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note or transfer such Transfer Restricted
Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note only if the Registrar receives the following: 

(A)    if the holder of such Transfer Restricted Definitive Note proposes to exchange such Transfer
Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form attached to the applicable Note; or 

(B)    if the holder of such Transfer Restricted Definitive Note proposes to transfer such Transfer
Restricted Definitive Note to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form attached to the applicable Note, 

and, in each such case, if the Issuer or the Registrar so request or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Notes Legend are no
longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Transfer Restricted Definitive Note and increase or cause to be increased the
aggregate principal amount of the Unrestricted Global Note. If any such transfer or exchange is effected pursuant to this subparagraph (ii) at a time when an Unrestricted Global Note has not yet been issued, the Issuer shall issue and, upon
receipt of a written order of the Issuer in the form of an Officer’s Certificate, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of the Transfer
Restricted Note transferred or exchanged pursuant to this subparagraph (ii). 

  
 Appendix A-7 

 (iii)    Unrestricted Definitive Notes to Beneficial
Interests in Unrestricted Global Notes. A holder of an Unrestricted Definitive Note may exchange such Unrestricted Definitive Note for a beneficial interest in an Unrestricted Global Note or transfer such Unrestricted Definitive Note to a Person
who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase
or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. If any such transfer or exchange is effected pursuant to this subparagraph (iii) at a time when an Unrestricted Global Note has not yet been
issued, the Issuer shall issue and, upon receipt of a written order of the Issuer in the form of an Officer’s Certificate, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the
aggregate principal amount of the Unrestricted Definitive Note transferred or exchanged pursuant to this subparagraph (iii). 

(iv)    Unrestricted Definitive Notes to Beneficial Interests in Transfer Restricted Global Notes.
An Unrestricted Definitive Note cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Transfer Restricted Global Note. 

(e)    Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a holder of Definitive Notes
and such holder’s compliance with the provisions of this Section 2.2(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting holder shall present or
surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such holder or by its attorney, duly authorized in writing. In addition, the
requesting holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 2.2(e). 

(i)    Transfer Restricted Definitive Notes to Transfer Restricted Definitive Notes. A Transfer
Restricted Note may be transferred to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Definitive Note if the Registrar receives the following: 

(A)    if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor
must deliver a certificate in the form attached to the applicable Note; 
 (B)    if the transfer will be
made pursuant to Rule 903 or Rule 904 under the Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Note; 

  
 Appendix A-8 

 (C)    if the transfer will be made pursuant to an exemption
from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Note; 

(D)    if the transfer will be made to an IAI in reliance on an exemption from the registration
requirements of the Securities Act other than those listed in subparagraphs (A) through (C) above, a certificate in the form attached to the applicable Note; and 

(E)    if such transfer will be made to the Issuer or a Subsidiary thereof, a certificate in the form
attached to the applicable Note. 
 (ii)    Transfer Restricted Definitive Notes to Unrestricted
Definitive Notes. Any Transfer Restricted Definitive Note may be exchanged by the holder thereof for an Unrestricted Definitive Note or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note if the
Registrar receives the following: 
 (A)    if the holder of such Transfer Restricted Definitive Note
proposes to exchange such Transfer Restricted Definitive Note for an Unrestricted Definitive Note, a certificate from such holder in the form attached to the applicable Note; or 

(B)    if the holder of such Transfer Restricted Definitive Note proposes to transfer such Notes to a
Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form attached to the applicable Note, 

and, in each such case, if the Issuer or the Registrar so request, an Opinion of Counsel in form reasonably acceptable to the Issuer to the
effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Notes Legend are no longer required in order to maintain compliance with the Securities Act.

 (iii)    Unrestricted Definitive Notes to Unrestricted Definitive Notes. A holder of an
Unrestricted Definitive Note may transfer such Unrestricted Definitive Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note at any time. Upon receipt of a request to register such a transfer, the Registrar
shall register the Unrestricted Definitive Notes pursuant to the instructions from the holder thereof. 

(iv)    Unrestricted Definitive Notes to Transfer Restricted Definitive Notes. An Unrestricted
Definitive Note cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Definitive Note. 

At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has
been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 2.10 of this Indenture. At any time prior to

  
 Appendix A-9 

 
such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global
Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to
reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased
accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(f)    Legend. 

(i)    Except as permitted by the following paragraph (iii) or (iv), each Note certificate evidencing
the Global Notes and any Definitive Notes (and all Notes issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the
legend only): 
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR
OF A BENEFICIAL INTEREST HEREIN, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING THIS SECURITY
FOR THE ACCOUNT OR FOR THE BENEFIT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT WITHIN [IN THE CASE OF RULE 144A NOTES: ONE
YEAR][IN THE CASE OF REGULATION S NOTES: 40 DAYS] AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) RESELL OR
OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE
SECURITIES ACT, (C) OUTSIDE THE 

  
 Appendix A-10 

 
UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 903 OR RULE 904 UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE), (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,”
“UNITED STATES” AND “U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT.” 
 Each Regulation S
Note shall bear the following additional legend: 
 “BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S.
PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON, AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT.” 

Each Definitive Note shall bear the following additional legend: 

“IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS
SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.” 

(ii)    Upon any sale or transfer of a Transfer Restricted Definitive Note, the Registrar shall permit the
holder thereof to exchange such Transfer Restricted Note for a Definitive Note that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Definitive Note if the holder certifies in writing
to the Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Initial Note). 

(iii)    Upon a sale or transfer after the expiration of the Restricted Period of any Initial Note acquired
pursuant to Regulation S, all requirements that such Initial Note bear the Restricted Notes Legend shall cease to apply and the requirements requiring any such Initial Note be issued in global form shall continue to apply. 

  
 Appendix A-11 

 (iv)    Any Additional Notes sold in a registered offering
shall not be required to bear the Restricted Notes Legend. 
 (g)    Cancellation or Adjustment of Global Note.
At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be returned to
or retained and canceled by the Trustee in accordance with Section 2.10 of the Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery
thereof in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the
Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. 

(h)    Obligations with Respect to Transfers and Exchanges of Notes. 

(i)    To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall
authenticate, Definitive Notes and Global Notes as necessary to effect such transfers and exchanges in accordance with the terms of the Indenture. 

(ii)    No service charge shall be made for any registration of transfer or exchange of Notes, but the
Issuer or the Trustee may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or similar governmental charge
payable upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). 

(iii)    Prior to the due presentation for registration of transfer of any Note, the Issuer, the Trustee, a
Paying Agent or the Registrar may deem and treat the person in whose name a Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Note and for all other purposes whatsoever,
whether or not such Note is overdue, and none of the Issuer, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. 

(iv)    All Notes issued upon any transfer or exchange pursuant to the terms of the Indenture shall
evidence the same debt and shall be entitled to the same benefits under the Indenture as the Notes surrendered upon such transfer or exchange. 

(i)    No Obligation of the Trustee. 

(i)    The Trustee shall have no responsibility or obligation to any beneficial owner of a Global Note, a
member of, or a participant in the Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of 

  
 Appendix A-12 

 
any participant or member thereof, with respect to any ownership interest in the Notes or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the
Depository) of any notice (including any notice of redemption or repurchase) or the payment of any amount, under or with respect to such Notes. All notices and communications to be given to the holders and all payments to be made to the holders
under the Notes shall be given or made only to the registered holders (which shall be the Depository or its nominee in the case of a Global Note). The rights of beneficial owners in any Global Note shall be exercised only through the Depository
subject to the applicable rules and procedures of the Depository. The Trustee may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members, participants and any beneficial owners. 

(ii)    The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with
any restrictions on transfer imposed under this Indenture or under applicable law (including the Securities Act) with respect to any transfer of any interest in any Note (including any transfers between or among Depository participants, members or
beneficial owners in any Global Note) other than to accept delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine
the same to determine substantial compliance as to form with the express requirements hereof. 

  
 Appendix A-13 

 EXHIBIT A 

[FORM OF FACE OF INITIAL NOTE] 

[Global Notes Legend] 
 UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), NEW YORK, NEW YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

TRANSFERS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR
SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL NOTE SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. 

[Restricted Notes Legend for Notes Offered in Reliance on Regulation S] 

BY ITS ACQUISITION HEREOF, THE HOLDER HEREOF REPRESENTS THAT IT IS NOT A U.S. PERSON, NOR IS IT PURCHASING FOR THE ACCOUNT OF A U.S. PERSON,
AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH REGULATION S UNDER THE SECURITIES ACT. 
 [Restricted Notes
Legend] 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE
SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL
INTEREST HEREIN, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) OR (B) IT IS NOT A U.S. PERSON, IS NOT ACQUIRING THIS SECURITY FOR THE ACCOUNT OR
FOR THE BENEFIT OF A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT WITHIN [IN THE CASE OF RULE 144A NOTES: ONE YEAR][IN THE CASE OF
REGULATION S NOTES: 40 DAYS] AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE 

 
ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY) RESELL OR OTHERWISE TRANSFER THIS SECURITY EXCEPT (A) TO THE ISSUER OR ANY
SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A PERSON WHOM THE HOLDER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) OUTSIDE THE UNITED STATES IN AN OFFSHORE
TRANSACTION IN COMPLIANCE WITH RULE 903 OR RULE 904 UNDER THE SECURITIES ACT, (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH
PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. AS USED HEREIN, THE TERMS “OFFSHORE TRANSACTION,” “UNITED STATES” AND “U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY
REGULATION S UNDER THE SECURITIES ACT. 
 [Definitive Notes Legend] 

IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH
TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. 

  
 A-2 

 [FORM OF INITIAL NOTE] 

WARRIOR MET COAL, INC. 
  

			
	No. [                ]	  	144A CUSIP No. 93627C AA9
		
		  	144A ISIN No. US93627CAA99
		
		  	REG S CUSIP No. U93537 AA3
		
		  	REG S ISIN No. USU93537AA32
		
		  	$[            ]

 8.00% Senior Secured Note due 2024 

Warrior Met Coal, Inc., a Delaware corporation (together with its successors and assigns under the Indenture), promises to pay to
Cede & Co., or registered assigns, the principal sum set forth on the Schedule of Increases or Decreases in Global Note attached hereto on November 1, 2024. 

Interest Payment Dates: May 1 and November 1, commencing [        ]1 
 Record Dates: April 15 and October 15 

Additional provisions of this Note are set forth on the other side of this Note. 

 
  

	1 	To be May 1, 2018 for Initial Notes. 

  
 A-3 

 IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. 

 

			
	WARRIOR MET COAL, INC.
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

 Dated: 

  
 A-4 

			
	TRUSTEE’S CERTIFICATE OF
	       AUTHENTICATION
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION
		 	as Trustee, certifies that this is
		 	one of the Notes
		 	referred to in the Indenture.
		
	By:	 	  

		 	    Authorized Signatory

 Dated: 
  

 

	*/	If the Note is to be issued in global form, add the Global Notes Legend and the attachment from Exhibit A captioned “TO BE ATTACHED TO GLOBAL NOTES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE.”

  
 A-5 

 [FORM OF REVERSE SIDE OF INITIAL NOTE] 

8.00% Senior Secured Note Due 2024 
  

	1.	Interest 

 Warrior Met Coal, Inc., a Delaware corporation (such entity, and its
successors and assigns under the Indenture, hereinafter referred to, being herein called, the “Issuer”), promises to pay interest on the principal amount of this Note at the rate per annum shown above. The Issuer shall pay interest
semiannually on May 1 and November 1 of each year (each an “Interest Payment Date”), commencing [    ]2. Interest on the Notes shall accrue from the
most recent date to which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from November 2, 2017, until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. The Issuer shall pay interest on overdue principal at the rate borne by the Notes, and it shall pay interest on overdue installments of
interest at the same rate to the extent lawful. 
  

	2.	Method of Payment 

 The Issuer shall pay interest on the Notes (except defaulted
interest) to the Persons who are registered holders at the close of business on April 15 or October 15 (each a “Record Date”) immediately preceding the Interest Payment Date even if Notes are canceled after the Record Date
and on or before the Interest Payment Date (whether or not a Business Day). Holders must surrender Notes to the Paying Agent to collect principal payments. The Issuer shall pay principal, premium, if any, and interest in money of the United States
of America that at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Notes represented by a Global Note (including principal, premium, if any, and interest) shall be made by wire transfer of
immediately available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Issuer shall make all payments in respect of a certificated Note (including principal, premium, if any, and interest) at the
office of the Paying Agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each holder thereof; provided, however, that payments on the Notes may also be made,
in the case of a holder of at least $1,000,000 aggregate principal amount of Notes, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States of America if such holder elects payment by wire transfer by
giving written notice to the Trustee or Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). 

 

	3.	Paying Agent and Registrar 

 Initially, Wilmington Trust, National Association, as
trustee under the Indenture (the “Trustee”), will act as Paying Agent and Registrar. The Issuer may appoint and change any Paying Agent or Registrar upon written notice to such Paying Agent or registrar and to the Trustee. The
Issuer or any of its domestically incorporated Subsidiaries may act as Paying Agent or Registrar. 
  

 

	2 	To be May 1, 2018 for Initial Notes. 

  
 A-6 

	4.	Indenture 

 The Issuer issued the Notes under an Indenture dated as of November 2,
2017 (the “Indenture”), among the Issuer, the Subsidiary Guarantors party thereto from time to time, the Trustee and the Priority Lien Collateral Trustee. Capitalized terms used herein are used as defined in the Indenture, unless
otherwise indicated. The terms of the Notes include those stated in the Indenture. The Notes are subject to all terms and provisions of the Indenture, and the holders (as defined in the Indenture) are referred to the Indenture for a statement of
such terms and provisions. If and to the extent that any provision of the Notes limits, qualifies or conflicts with a provision of the Indenture, such provision of the Indenture shall control. 

The Notes are senior secured obligations of the Issuer. This Note is one of the Initial Notes referred to in the Indenture. The Notes include
the Initial Notes and any Additional Notes. The Initial Notes and any Additional Notes are treated as a single class of securities under the Indenture. The Indenture imposes certain limitations on the ability of the Issuer and its Restricted
Subsidiaries to, among other things, make certain Investments and other Restricted Payments, Incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or
sell shares of certain capital stock of the Issuer and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or Incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the
Issuer and each Subsidiary Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. 

To guarantee the due and punctual payment of the principal and interest on the Notes and all other amounts payable by the Issuer under the
Indenture and the Notes when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Notes and the Indenture, the Subsidiary Guarantors have unconditionally guaranteed the Guaranteed
Obligations pursuant to the terms of the Indenture and any Subsidiary Guarantor that executes a Subsidiary Guarantee will unconditionally guarantee the Guaranteed Obligations on a senior secured basis, pursuant to the terms of the Indenture. 

 

	5.	Redemption 

 On or after November 1, 2020, the Issuer may redeem the Notes at its
option, in whole at any time or in part from time to time, upon notice as described in Paragraph 7 of this Note, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any, to,
but excluding, the redemption date (subject to the right of holders of record on the relevant Record Date to receive interest due on the relevant Interest 

  
 A-7 

 
Payment Date), if redeemed during the 12-month period commencing on November 1 of the years set forth below: 

 

					
	 Period
	  	Redemption Price	 
	 2020
	  	 	104.000	% 
	 2021
	  	 	102.000	% 
	 2022 and thereafter
	  	 	100.000	% 

 In addition, prior to November 1, 2020, the Issuer may redeem the Notes at its option, in whole at any
time or in part from time to time, upon notice as described in Paragraph 7 of this Note, at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if
any, to, but excluding, the applicable redemption date (subject to the right of holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date). 

Notwithstanding the foregoing, at any time and from time to time prior to November 1, 2020 the Issuer may redeem at its option, in whole
or in part from time to time, in the aggregate up to 40% of the original aggregate principal amount of the Notes (calculated after giving effect to any issuance of Additional Notes) in an amount not to exceed the amount of net cash proceeds of one
or more Equity Offerings (1) by the Issuer or (2) by any direct or indirect parent of the Issuer to the extent the net cash proceeds thereof are contributed to the common equity capital of the Issuer or used to purchase Capital Stock
(other than Disqualified Stock) of the Issuer, at a redemption price (expressed as a percentage of principal amount thereof) of 108.000%, plus accrued and unpaid interest, if any, to, but excluding, the redemption date (subject to the right
of holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date); provided, however, that at least 50% of the original aggregate principal amount of the Notes (calculated after giving
effect to any issuance of Additional Notes) must remain outstanding after each such redemption; provided, further, that such redemption shall occur within 90 days after the date on which any such Equity Offering is consummated upon not
less than 30 nor more than 60 days’ notice mailed by the Issuer to each holder of Notes being redeemed, or delivered electronically if held by DTC, and otherwise in accordance with the procedures set forth in the Indenture. 

Notice of any redemption upon any corporate transaction or other event (including any Equity Offering, Incurrence of Indebtedness, Change of
Control or other transaction) may be given prior to the completion thereof. In addition, any redemption described above or notice thereof may, at the Issuer’s discretion, be subject to one or more conditions precedent, including, but not
limited to, completion of a corporate transaction or other event. 
  

	6.	Mandatory Redemption 

 The Issuer will not be required to make any mandatory redemption
or sinking fund payments with respect to the Notes. 
  

	7.	Notice of Redemption 

 Notices of redemption will be mailed by first-class mail at least
30 but not more than 60 days before the redemption date, to each holder of Notes to be redeemed at its registered address (with a copy to the Trustee) or otherwise delivered in accordance with the procedures of The Depository Trust Company
(“DTC”), except that redemption notices may be mailed or 

  
 A-8 

 
otherwise delivered more than 60 days prior to the redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture pursuant
to Article VIII thereof. 
 If money sufficient to pay the redemption price of, plus accrued and unpaid interest, if any, on all
Notes (or portions thereof) to be redeemed on the redemption date is deposited with a Paying Agent on or before the redemption date and certain other conditions are satisfied, then on and after such redemption date, interest shall cease to accrue on
such Notes (or such portions thereof) called for redemption. 
  

	8.	Repurchase of Notes at the Option of the Holders upon Change of Control and Other Events 

Upon the occurrence of a Change of Control, each holder shall have the right, subject to certain conditions specified in the Indenture, to
require the Issuer to repurchase all or any part of such holder’s Notes at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the date of repurchase
(subject to the right of holders of record on the relevant Record Date to receive interest due on the relevant Interest Payment Date), as provided in, and subject to the terms of, the Indenture. 

In accordance with Section 404(b) and 4.06 of the Indenture, the Issuer will be required to offer to purchase Notes upon the
occurrence of certain events. 
  

	9.	[Reserved] 

  

	10.	Denominations; Transfer; Exchange 

 The Notes are in registered form, without interest
coupons, in minimum denominations of $2,000 principal amount and integral multiples of $1,000 in excess thereof, provided that Notes may be issued in denominations of less than $2,000 solely to accommodate book-entry positions that have been
created by participants of the DTC in denominations of less than $2,000. A holder shall register the transfer of or exchange of the Notes in accordance with the Indenture. Upon any registration of transfer or exchange, the Registrar and the Trustee
may require a holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any Notes selected
for redemption (except, in the case of a Note to be redeemed in part, the portion of the Note not to be redeemed) or to transfer or exchange any Notes for a period of 15 days prior to a selection of Notes to be redeemed or between a Record Date and
the relevant Payment Date. 
  

	11.	Persons Deemed Owners 

 The registered holder of this Note shall be treated as the owner
of it for all purposes. 

  
 A-9 

	12.	Unclaimed Money 

 If money for the payment of principal or interest remains unclaimed for
two years, the Trustee and each Paying Agent shall pay the money back to the Issuer at its written request unless an applicable abandoned property law designates another Person. After any such payment, the holders entitled to the money must look to
the Issuer for payment as general creditors and the Trustee and each Paying Agent shall have no further liability with respect to such monies. 
  

	13.	Discharge and Defeasance 

 Subject to certain conditions, the Issuer at any time may
terminate some of or all its obligations under the Notes and the Indenture if the Issuer deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Notes to redemption or maturity, as the case may
be. 
  

	14.	Amendment; Waiver 

 Subject to certain exceptions set forth in the Indenture,
(i) the Indenture, the Notes, the Subsidiary Guarantees and the Security Documents may be amended with the written consent of the holders of at least a majority in aggregate principal amount of the Notes then outstanding and (ii) any past
default or compliance with any provisions may be waived with the written consent of the holders of at least a majority in principal amount of the Notes then outstanding. 

Subject to certain exceptions set forth in the Indenture, without the consent of any holder, the Issuer, the Trustee and the Priority Lien
Collateral Trustee may amend the Indenture, the Notes, the Subsidiary Guarantees and/or the Security Documents (i) to cure any ambiguity, omission, mistake, defect or inconsistency; (ii) to provide for the assumption by a Successor Company
(with respect to the Issuer) of the obligations of the Issuer under the Indenture, the Notes and the Security Documents; (iii) to provide for the assumption by a Successor Subsidiary Guarantor (with respect to any Subsidiary Guarantor), as the
case may be, of the obligations of a Subsidiary Guarantor under the Indenture, the Notes, the Security Documents and its Subsidiary Guarantee; (iv) to provide for uncertificated Notes in addition to or in place of certificated Notes;
provided, that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code; (v) to conform the text of this Indenture, the Notes, the Security Documents or the Subsidiary Guarantees to any
provision of the “Description of Notes” in the Offering Circular to the extent that such provision in this Indenture, the Notes, the Security Documents or the Subsidiary Guarantees was intended by the Issuer to be a verbatim recitation of
a provision in the “Description of Notes” in the Offering Circular, as stated in an Officer’s Certificate; (vi) to add a Subsidiary Guarantee or Collateral; (vii) to make, complete or confirm any grant of Collateral
permitted or required by any of the Security Documents, including to secure additional Priority Lien Debt, or to release, discharge, terminate or subordinate Liens on Collateral in accordance with the Indenture and the Security Documents and to
confirm and evidence any such release, discharge, termination or subordination; (viii) to add to the covenants of the Issuer for the benefit of the holders or to surrender any right or power herein conferred upon the Issuer or any Restricted
Subsidiary; (ix) to comply with any requirement of the SEC in 

  
 A-10 

 
connection with qualifying or maintaining the qualification of, this Indenture under the TIA (if the Issuer elects to qualify this Indenture under the TIA); (x to make any change that would
provide any additional rights or benefits to the holders or that does not adversely affect the rights of any holder in any material respect (as determined in good faith by the Issuer); (xi) to effect any provision of this Indenture or the Security
Documents; (xii) to make changes to this Indenture and the Security Documents to provide for the issuance of Additional Notes, which shall have terms substantially identical in all material respects to the Initial Notes, and which shall be
treated, together with any outstanding Initial Notes, as a single issue of securities; or (xiii) as provided for in the Collateral Trust Agreement (to the extent effective at the relevant time). 

Notwithstanding the foregoing, except as expressly provided by the Indenture, the Security Documents or the ABL Intercreditor Agreement,
without the consent of holders of at least 66.67% in aggregate principal amount of outstanding Notes, no amendment or waiver under the Indenture may release all or substantially all of the Collateral from the Lien of the Indenture, the Notes and the
Security Documents with respect to the Notes. 
  

	15.	Defaults and Remedies 

 If an Event of Default (other than an Event of Default specified
in Section 6.01(f) or (g) in the Indenture with respect to the Issuer) occurs and is continuing, the Trustee by notice to the Issuer or the holders of at least 30% in aggregate principal amount of outstanding Notes by notice to the Issuer,
with a copy to the Trustee, may declare the principal of, premium, if any, and accrued but unpaid interest on all the Notes to be due and payable. Upon such a declaration, such principal and interest will be due and payable immediately. If an Event
of Default specified in Section 6.01(f) or (g) of the Indenture with respect to the Issuer occurs, the principal of, premium, if any, and interest on all the Notes will become immediately due and payable without any declaration or other
act on the part of the Trustee or any holders. Under certain circumstances, the holders of a majority in principal amount of outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences. 

If an Event of Default occurs and is continuing, neither the Trustee nor the Priority Lien Collateral Trustee shall be under any obligation to
exercise any of the rights or powers under the Indenture at the request or direction of any of the holders unless such holders have offered to the Trustee and the Priority Lien Collateral Trustee indemnity or security satisfactory to the Trustee
against the costs, expenses and liabilities which might be incurred by it in compliance with such request or direction. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no holder may pursue any
remedy with respect to the Indenture or the Notes unless (i) such holder has previously given the Trustee written notice that an Event of Default is continuing, (ii) holders of at least 30% in aggregate principal amount of the outstanding
Notes have requested in writing the Trustee to pursue the remedy, (iii) such holders have offered the Trustee security or indemnity satisfactory to it against any loss, liability or expense, (iv) the Trustee has not complied with such
request within 60 days after the receipt of the request and the offer of security or indemnity, and (v) the holders of a majority in principal amount of the outstanding Notes have not given the Trustee a direction inconsistent with such written
request within such 60-day period. Subject to certain restrictions, the holders of a majority in principal amount of outstanding Notes are given the right to direct the time,

  
 A-11 

 
method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any
direction that conflicts with law or the Indenture or, if the Trustee, being advised by counsel, determines that the action or proceeding so directed may not lawfully be taken or if the Trustee in good faith shall determine that the action or
proceeding so directed would involve the Trustee in personal liability or expense for which it is not adequately indemnified, or subject to Section 7.01 of the Indenture, that the Trustee determines is unduly prejudicial to the rights of any
other holder (it being understood that the Trustee does not have an affirmative duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such holders) or that would involve the Trustee in personal liability. Prior to
taking any action under the Indenture, the Trustee shall be entitled to indemnification satisfactory to it against all losses, expenses, and liabilities caused by taking or not taking such action. 

 

	16.	Trustee Dealings with the Issuer 

 Subject to certain limitations imposed by the TIA, the
Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or
its Affiliates with the same rights it would have if it were not Trustee. 
  

	17.	No Recourse Against Others 

 No director, officer, employee, manager, incorporator or
holder of any Equity Interests in the Issuer or any Subsidiary Guarantor or any direct or indirect parent companies, as such, will have any liability for any obligations of the Issuer or any Subsidiary Guarantor under the Notes, the Indenture or the
Subsidiary Guarantees, as applicable, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each holder of Notes by accepting a Note waives and releases all such liability. 

 

	18.	Authentication 

 This Note shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Note. 
  

	19.	Abbreviations 

 Customary abbreviations may be used in the name of a holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). 

 

	20.	Governing Law 

 THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 

  
 A-12 

	21.	CUSIP Numbers; ISINs 

 The Issuer has caused CUSIP numbers and ISINs to be printed on the
Notes and has directed the Trustee to use CUSIP numbers and ISINs in notices of redemption as a convenience to the holders. No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of
redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Issuer will furnish to any holder
of Notes upon written request and without charge to the holder a copy of the Indenture which has in it the text of this Note. 

  
 A-13 

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
 I or we assign
and transfer this Note to: 
  
  

(Print or type assignee’s name, address and zip code) 
  

 
 (Insert assignee’s soc. sec. or
tax I.D. No.) 
 and irrevocably
appoint                    agent to transfer this Note on the books of the Issuer. The agent may substitute another to act for him. 

 

									
					
	Date:	  	  
	  		  	Your Signature:	  	  

	
	  

	Sign exactly as your name appears on the other side of this Note.
	
	Signature Guarantee:

  

					
	Date:
                                         
                                         
      	 		  	  

			
	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		  	Signature of Signature Guarantee

  
 A-14 

 CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR 

REGISTRATION OF TRANSFER RESTRICTED NOTES 
 This
certificate relates to $         principal amount of Notes held in (check applicable space)          book-entry or         
definitive form by the undersigned. 
 The undersigned (check one box below): 
  

	☐	has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Note held by the Depository a Note or Notes in definitive, registered form of authorized denominations and an
aggregate principal amount equal to its beneficial interest in such Global Note (or the portion thereof indicated above); 

  

	☐	has requested the Trustee by written order to exchange or register the transfer of a Note or Notes. 

 In
connection with any transfer of any of the Notes evidenced by this certificate occurring while this Note is still a Transfer Restricted Definitive Note or a Transfer Restricted Global Note, the undersigned confirms that such Notes are being
transferred in accordance with its terms: 
 CHECK ONE BOX BELOW 
  

					
	(1)	  	☐	  	to the Issuer; or
			
	(2)	  	☐	  	to the Registrar for registration in the name of the holder, without transfer; or
			
	(3)	  	☐	  	pursuant to an effective registration statement under the Securities Act of 1933; or
			
	(4)	  	☐	  	inside the United States to a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to
whom notice is given that such transfer is being made in reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or
			
	(5)	  	☐	  	outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Note shall be held immediately after the
transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or
			
	(6)	  	☐	  	to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations
and agreements; or
			
	(7)	  	☐	  	pursuant to another available exemption from registration provided by Rule 144 under the Securities Act of 1933.

  
 A-15 

 Unless one of the boxes is checked, the Trustee will refuse to register any of the Notes
evidenced by this certificate in the name of any Person other than the registered holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Issuer or the Trustee may require, prior to registering any such
transfer of the Notes, such legal opinions, certifications and other information as the Issuer or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the Securities Act of 1933. 
  

					
	 Date:
                                         
                                         
  
  
	 	 	 	
Your Signature:                      
                                         
              
  

 Sign exactly as your name appears on the other side of this Note. 

Signature Guarantee: 
  

					
	Date:
                                         
                                         
  	 		 	  

			
	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	 		 	Signature of Signature Guarantee

  
 A-16 

 TO BE COMPLETED BY PURCHASER IF (4) ABOVE IS CHECKED. 

The undersigned represents and warrants that it is purchasing this Note for its own account or an account with respect to which it exercises
sole investment discretion and that it and any such account is a “qualified institutional buyer” within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule
144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
  

							
	 Date:
	 	  
	 		 	  

		 		 		 	 NOTICE: To be executed by an executive officer

  
 A-17 

 [TO BE ATTACHED TO GLOBAL NOTES] 

SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE 

The initial principal amount of this Global Note is $        . The following increases or decreases in
this Global Note have been made: 
  

									
	 Date of Exchange
	 	
Amount of decrease in
Principal Amount of this
Global Note
	 	
Amount of increase in
Principal Amount of this
Global Note
	 	 Principal amount of this
Global Note
following
 such decrease or

increase
	 	 Signature of authorized

signatory of Trustee or

Notes Custodian

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 A-18 

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Note purchased by the Issuer pursuant to Section 4.04(b) (Restricted Payment Offer), Section 4.06
(Asset Sales) or 4.08 (Change of Control) of the Indenture, check the box: 
 Restricted Payment
Offer  ☐                         Asset Sale  ☐
                        Change of Control  ☐ 

If you want to elect to have only part of this Note purchased by the Issuer pursuant to 4.04(b) (Restricted Payment Offer), Section 4.06
(Asset Sales) or 4.08 (Change of Control) of the Indenture, state the amount ($2,000 or any integral multiple of $1,000 in excess thereof): 
  

							
	                $        	  		  		 	
	Date:
                                         
           	  		  	Your Signature:	 	  

		  		  		 	(Sign exactly as your name appears on the other side of this Note)

  

					
	 Signature Guarantee:
	  	  
	  	
		  	Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee	  	

  
 A-19 

 EXHIBIT B 

[FORM OF TRANSFEREE LETTER OF REPRESENTATION] 

TRANSFEREE LETTER OF REPRESENTATION 

WARRIOR MET COAL, INC. 
 c/o Wilmington Trust, National
Association 
 Global Capital Markets 
 50 South Sixth Street,
Suite 1290 
 Minneapolis, MN 55402 
 Attention: Warrior Met
Coal, Inc. Administrator 
 Fax: 612-217-5651 

Ladies and Gentlemen: 
 This certificate is
delivered to request a transfer of $[        ] principal amount of the 8.00% Senior Secured Notes due 2024 (the “Notes”) of Warrior Met Coal, Inc. (collectively with its successors and
assigns, the “Issuer”). 
 Upon transfer, the Notes would be registered in the name of the new beneficial owner as follows:

 Name:
                                         
                  
 Address:
                                         
                
 Taxpayer ID Number:
                                         
    
 The undersigned represents and warrants to you that: 

1.    We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or
(7) under the Securities Act of 1933, as amended (the “Securities Act”)), purchasing for our own account or for the account of such an institutional “accredited investor” at least $100,000 principal amount of
the Notes, and we are acquiring the Notes not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act. We have such knowledge and experience in financial and business matters as to be capable of
evaluating the merits and risks of our investment in the Notes, and we invest in or purchase securities similar to the Notes in the normal course of our business. We, and any accounts for which we are acting, are each able to bear the economic risk
of our or its investment. 
 2.    We understand that the Notes have not been registered under the Securities Act and,
unless so registered, may not be sold except as permitted in the following sentence. We agree on our own behalf and on behalf of any investor account for which we are purchasing Notes to offer, sell or otherwise transfer such Notes prior to the date
that is one year after the later of the date of original issue and the last date on which either of the Issuer or any affiliate of the Issuer was the owner of such Notes (or any predecessor thereto) (the “Resale Restriction Termination
Date”) only (a) in the United States to a person whom we reasonably 

  
 B-1 

 
believe is a qualified institutional buyer (as defined in rule 144A under the Securities Act) in a transaction meeting the requirements of Rule 144A, (b) outside the United States in an
offshore transaction in accordance with Rule 904 of Regulation S under the Securities Act, (c) pursuant to an exemption from registration under the Securities Act provided by Rule 144 thereunder (if applicable) or (d) pursuant to an
effective registration statement under the Securities Act, in each of cases (a) through (d) in accordance with any applicable securities laws of any state of the United States. In addition, we will, and each subsequent holder is required
to, notify any purchaser of the Note evidenced hereby of the resale restrictions set forth above. The foregoing restrictions on resale will not apply subsequent to the Resale Restriction Termination Date. If any resale or other transfer of the Notes
is proposed to be made to an institutional “accredited investor” prior to the Resale Restriction Termination Date, the transferor shall deliver a letter from the transferee substantially in the form of this letter to the Issuer and
the Trustee, which shall provide, among other things, that the transferee is an institutional “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act and that it is acquiring such
Notes for investment purposes and not for distribution in violation of the Securities Act. Each purchaser acknowledges that the Issuer and the Trustee reserve the right prior to the offer, sale or other transfer prior to the Resale Restriction
Termination Date of the Notes pursuant to clause 1(b), 1(c) or 1(d) above to require the delivery of an opinion of counsel, certifications or other information satisfactory to the Issuer and the Trustee. 

 

	
	 Dated:
                                    

  

			
	TRANSFEREE:
                                         
                 ,
		
	By:	 	                                     
                                       _

  
 B-2 

 EXHIBIT C 

[FORM OF SUPPLEMENTAL INDENTURE] 

SUPPLEMENTAL INDENTURE 

SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
[                    ], among WARRIOR MET COAL, INC., a Delaware corporation (the “Issuer”), [SUBSIDIARY GUARANTOR] (the
“New Subsidiary Guarantor”), a subsidiary of the Issuer, and WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity but solely as trustee under the indenture referred to below (the “Trustee”) and not
in its individual capacity but solely as collateral trustee (the “Priority Lien Collateral Trustee”). 
 W I T N E S S
E T H : 
 WHEREAS the Issuer, certain Subsidiary Guarantors, the Trustee and the Priority Lien Collateral Trustee have heretofore executed
an indenture, dated as of November 2, 2017 (as amended, supplemented or otherwise modified, the “Indenture”), providing for the issuance of the Issuer’s 8.00% Senior Secured Notes due 2024 (the “Notes”),
initially in the aggregate principal amount of $350,000,000; 
 WHEREAS Sections 4.11 and 12.07 of the Indenture provide that under
certain circumstances the Issuer is required to cause the New Subsidiary Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Subsidiary Guarantor shall unconditionally guarantee all the Issuer’s
Obligations under the Notes and the Indenture pursuant to a Subsidiary Guarantee on the terms and conditions set forth herein; and 

WHEREAS pursuant to Section 9.01 of the Indenture, the Trustee and the Issuer are authorized to execute and deliver this Supplemental
Indenture. 
 NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the New Subsidiary Guarantor, the Issuer, the Trustee and the Priority Lien Collateral Trustee mutually covenant and agree for the equal and ratable benefit of the holders of the Notes as follows: 

1.    Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or
recital hereto are used herein as therein defined, except that the term “holders” in this Supplemental Indenture shall refer to the term “holders” as defined in the Indenture and the Trustee acting on behalf of and
for the benefit of such holders. The words “herein,” “hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and
not to any particular Section hereof. 
 2.    Agreement to Guarantee. The New Subsidiary Guarantor hereby
agrees, jointly and severally with all existing Subsidiary Guarantors (if any), to unconditionally guarantee the Issuer’s Obligations under the Notes and the Indenture on the terms and subject to the conditions set forth in Article XII and
to provide a security interest as set forth in Article XIII of the Indenture and to be bound by all other applicable provisions of the Indenture and the Notes and to perform all of the obligations and agreements of a Subsidiary Guarantor under the
Indenture. 

  
 C-1 

 3.    Notices. All notices or other communications to the New
Subsidiary Guarantor shall be given as provided in Section 14.02 of the Indenture. 
 4.    Ratification of
Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This
Supplemental Indenture shall form a part of the Indenture for all purposes, and every holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. 

5.    Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
 6.    Trustee Makes No Representation. The Trustee makes no representation
as to the validity or sufficiency of this Supplemental Indenture. 
 7.    Counterparts. The parties may sign any
number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. 

8.    Effect of Headings. The Section headings herein are for convenience only and shall not affect the
construction thereof. 
 [Remainder of page intentionally left blank.] 

  
 C-2 

 IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. 
  

			
	WARRIOR MET COAL, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	[NEW SUBSIDIARY GUARANTOR], as a Subsidiary Guarantor
		
	By:	 	  

		 	Name: [                    ]
		 	Title: [                    ]
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, not in its individual capacity, but solely as Trustee and Priority Lien Collateral Trustee
		
	By:	 	  

		 	Name: [                    ]
		 	Title: [                     ]

  
 C-3 

 EXHIBIT D 

[FORM OF COLLATERAL TRUST AGREEMENT] 

COLLATERAL TRUST AGREEMENT 

dated as of [DATE] 

among 
 WARRIOR MET
COAL, INC., 
 the other Grantors from time to time party hereto, 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Priority Lien Trustee under the Priority Lien Indenture, 

[                    ],1 
 as
[                    ] under the [Priority Lien Debt] [Junior Lien Debt], 

WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Priority Lien Collateral Trustee 

and 

[                    ], 

as Junior Lien Collateral Trustee 
  

 

	1 	To be the Priority Lien Representative or Junior Lien Representative in respect of the Priority Lien Debt or Junior Lien Debt, as applicable, subject to the Collateral Trust Agreement. 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	ARTICLE I	 
	DEFINITIONS; PRINCIPLES OF CONSTRUCTION	 
			
	 Section 1.01
	 	 Defined Terms
	  	 	D-1	 
	 Section 1.02
	 	 Other Definition Provisions
	  	 	D-18	 
		
	ARTICLE II	  			
	THE TRUST ESTATES	  			
			
	 Section 2.01
	 	 Appointment of Priority Lien Collateral Trustee and Declaration of Senior Trust
	  	 	D-19	 
	 Section 2.02
	 	 Appointment of Junior Lien Collateral Trustee and Declaration of Junior Trust
	  	 	D-20	 
	 Section 2.03
	 	 Priority of Liens between Classes
	  	 	D-21	 
	 Section 2.04
	 	 Restrictions on Enforcement of Junior Liens; Prohibition on Contesting Liens
	  	 	D-22	 
	 Section 2.05
	 	 Waiver of Right of Marshaling
	  	 	D-25	 
	 Section 2.06
	 	 Discretion in Enforcement of Priority Liens
	  	 	D-25	 
	 Section 2.07
	 	 Amendments to Priority Lien Documents and Discretion in Enforcement of Priority Lien Obligations;
Amendments to Junior Lien Documents
	  	 	D-26	 
	 Section 2.08
	 	 Insolvency Proceedings
	  	 	D-27	 
	 Section 2.09
	 	 Collateral Shared Equally and Ratably within Class
	  	 	D-30	 
	 Section 2.10
	 	 No New Liens
	  	 	D-31	 
	 Section 2.11
	 	 Confirmation of Subordination in Junior Lien Security Documents
	  	 	D-32	 
		
	ARTICLE III	  			
	OBLIGATIONS AND POWERS OF COLLATERAL TRUSTEES	  			
			
	 Section 3.01
	 	 Appointment and Undertaking of each Collateral Trustee
	  	 	D-32	 
	 Section 3.02
	 	 Release or Subordination of Liens
	  	 	D-34	 
	 Section 3.03
	 	 Enforcement of Liens
	  	 	D-34	 
	 Section 3.04
	 	 Application of Proceeds
	  	 	D-34	 
	 Section 3.05
	 	 Powers of the Collateral Trustees
	  	 	D-36	 
	 Section 3.06
	 	 Documents and Communications
	  	 	D-37	 
	 Section 3.07
	 	 For Sole and Exclusive Benefit of the Secured Parties
	  	 	D-37	 
	 Section 3.08
	 	 Additional Secured Debt
	  	 	D-37	 
	 Section 3.09
	 	 Insurance and Condemnation Awards
	  	 	D-40	 
		
	ARTICLE IV	  			
	OBLIGATIONS ENFORCEABLE BY THE ISSUER AND THE OTHER GRANTORS	  			
			
	 Section 4.01
	 	 Release of Liens on Collateral
	  	 	D-40	 
	 Section 4.02
	 	 Delivery of Copies to Secured Debt Representatives
	  	 	D-43	 
	 Section 4.03
	 	 Collateral Trustee not Required to Serve, File or Record
	  	 	D-43	 
	 Section 4.04
	 	 Release of Liens in Respect of any Series of Priority Lien Debt or any Series of Junior Lien
Debt
	  	 	D-43	 

  
 - i - 

							
	ARTICLE V	 
	IMMUNITIES OF THE COLLATERAL TRUSTEES	 
			
	 Section 5.01
	 	 No Implied Duty
	  	 	D-44	 
	 Section 5.02
	 	 Appointment of Agents and Advisors
	  	 	D-44	 
	 Section 5.03
	 	 Other Agreements
	  	 	D-44	 
	 Section 5.04
	 	 Solicitation of Instructions
	  	 	D-45	 
	 Section 5.05
	 	 Limitation of Liability
	  	 	D-45	 
	 Section 5.06
	 	 Documents in Satisfactory Form
	  	 	D-45	 
	 Section 5.07
	 	 Entitled to Rely
	  	 	D-45	 
	 Section 5.08
	 	 Secured Debt Default
	  	 	D-46	 
	 Section 5.09
	 	 Actions by Collateral Trustee
	  	 	D-46	 
	 Section 5.10
	 	 Security or Indemnity in favor of Collateral Trustee
	  	 	D-46	 
	 Section 5.11
	 	 Rights of Collateral Trustee
	  	 	D-46	 
	 Section 5.12
	 	 Limitations on Duty of Collateral Trustee in Respect of Collateral
	  	 	D-46	 
	 Section 5.13
	 	 Assumption of Rights, Not Assumption of Duties
	  	 	D-47	 
	 Section 5.14
	 	 No Liability for Clean Up of Hazardous Materials
	  	 	D-47	 
	 Section 5.15
	 	 No Liability for Interest
	  	 	D-47	 
	 Section 5.16
	 	 Non-Reliance on Collateral Trustee
	  	 	D-48	 
	 Section 5.17
	 	 No Duty to Monitor
	  	 	D-48	 
		
	ARTICLE VI	  			
	RESIGNATION AND REMOVAL OF COLLATERAL TRUSTEE	  			
			
	 Section 6.01
	 	 Resignation or Removal of Collateral Trustee
	  	 	D-48	 
	 Section 6.02
	 	 Appointment of Successor Collateral Trustee
	  	 	D-48	 
	 Section 6.03
	 	 Succession
	  	 	D-49	 
	 Section 6.04
	 	 Merger, Conversion or Consolidation of Collateral Trustee
	  	 	D-49	 
		
	ARTICLE VII	  			
	MISCELLANEOUS PROVISIONS	  			
			
	 Section 7.01
	 	 Amendment
	  	 	D-49	 
	 Section 7.02
	 	 Voting
	  	 	D-51	 
	 Section 7.03
	 	 Further Assurances; Insurance
	  	 	D-51	 
	 Section 7.04
	 	 Perfection of Junior Trust Estate
	  	 	D-53	 
	 Section 7.05
	 	 [Reserved]
	  	 	D-53	 
	 Section 7.06
	 	 Successors and Assigns
	  	 	D-53	 
	 Section 7.07
	 	 Delay and Waiver
	  	 	D-53	 
	 Section 7.08
	 	 Notices
	  	 	D-53	 
	 Section 7.09
	 	 Notice Following Discharge of Priority Lien Obligations
	  	 	D-55	 
	 Section 7.10
	 	 Entire Agreement
	  	 	D-55	 
	 Section 7.11
	 	 Compensation; Expenses
	  	 	D-55	 
	 Section 7.12
	 	 Indemnity
	  	 	D-56	 
	 Section 7.13
	 	 Actions Upon Breach; Specific Performance
	  	 	D-56	 
	 Section 7.14
	 	 Severability
	  	 	D-57	 
	 Section 7.15
	 	 Section Headings
	  	 	D-57	 
	 Section 7.16
	 	 Obligations Secured
	  	 	D-57	 
	 Section 7.17
	 	 Governing Law
	  	 	D-57	 
	 Section 7.18
	 	 Consent to Jurisdiction
	  	 	D-57	 
	 Section 7.19
	 	 Waiver of Jury Trial
	  	 	D-58	 

  
 - ii - 

							
	 Section 7.20
	 	 Counterparts
	  	 	D-58	 
	 Section 7.21
	 	 Grantors and Additional Grantors
	  	 	D-58	 
	 Section 7.22
	 	 Continuing Nature of this Agreement
	  	 	D-58	 
	 Section 7.23
	 	 Insolvency
	  	 	D-58	 
	 Section 7.24
	 	 Rights and Immunities of Collateral Trustee and Secured Debt Representatives
	  	 	D-59	 
	 Section 7.25
	 	 ABL Intercreditor Agreement
	  	 	D-59	 

 Exhibits: 

EXHIBIT A — Additional Secured Debt Designation 

EXHIBIT B — Form of Collateral Trust Joinder—Additional Secured Debt 

EXHIBIT C — Form of Collateral Trust Joinder—Additional Grantors 

  
 - iii - 

 COLLATERAL TRUST AGREEMENT (as amended, supplemented, amended and restated or
otherwise modified from time to time in accordance with Section 7.01 hereof, this “Agreement”) dated as of [DATE] among Warrior Met Coal, Inc., a Delaware corporation (the “Issuer”), the Grantors from time to
time party hereto, Wilmington Trust, National Association, as Priority Lien Trustee (as defined below), [                    ], as
[                    ],Wilmington Trust, National Association, as Priority Lien Collateral Trustee (as defined below), and
[                    ], as Junior Lien Collateral Trustee (as defined below). 

WITNESSETH: 
 WHEREAS, the Issuer
issued 8.00% Senior Secured Notes due 2024 in an aggregate principal amount of $350,000,000 (the “Priority Lien Notes”), pursuant to an Indenture dated as of November 2, 2017 (the “Issue Date”), among the
Issuer, the guarantors party thereto and Wilmington Trust, National Association, as trustee (in such capacity and together with its successors in such capacity, the “Priority Lien Trustee”), (such Indenture, as amended,
restated, amended and restated, supplemented or otherwise modified and in effect from time to time (including any series of additional Priority Lien Notes issued thereunder), the “Priority Lien Indenture”). 

WHEREAS, the Issuer and the other Grantors intend to secure the Obligations under the Priority Lien Indenture, any future Priority Lien Debt
and any other Priority Lien Obligations on a priority basis and, subject to such priority, intend to secure the Obligations under any future Junior Lien Debt and any other Junior Lien Obligations, with Liens on all present and future Collateral to
the extent that such Liens have been provided for in the applicable Security Documents. 
 WHEREAS, this Agreement sets forth the terms on
which (i) each Priority Lien Secured Party has appointed the Priority Lien Collateral Trustee to act as the collateral trustee for the present and future holders of the Priority Lien Obligations to receive, hold, maintain, administer and
distribute the Collateral at any time delivered to the Priority Lien Collateral Trustee or the subject of the Priority Lien Security Documents, and to enforce the Priority Lien Security Documents and all interests, rights, powers and remedies of the
Priority Lien Collateral Trustee with respect thereto or thereunder and the proceeds thereof and (ii) each Junior Lien Secured Party has appointed the Junior Lien Collateral Trustee to act as the collateral trustee for the present and future
holders of the Junior Lien Secured Obligations to receive, hold, maintain, administer and distribute the Collateral at any time delivered to the Junior Lien Collateral Trustee or the subject of the Junior Lien Security Documents, and to enforce the
Junior Lien Security Documents and all interests, rights, powers and remedies of the Junior Lien Collateral Trustee with respect thereto or thereunder and the proceeds thereof. 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 
 ARTICLE I 

DEFINITIONS; PRINCIPLES OF CONSTRUCTION 

Section 1.01    Defined Terms. The following terms will have the following meanings: 

“ABL Collateral Agent” means any agent or representative of the holders of the ABL Lien Debt (including for purposes
related to the administration of the ABL Security Documents) pursuant to the ABL Credit Agreement or any other ABL Lien Document. 

  
 - 1 - 

 “ABL Credit Agreement” means (i) the asset based revolving credit
agreement, dated as of April 1, 2016 (as amended on January 23, 2017, March 24, 2017, May 15, 2017 and October 3, 2017) among the Issuer, the financial institutions named therein, the other parties thereto and Citibank,
N.A., as administrative and collateral agent, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise
modified from time to time, including any agreement or indenture extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the indebtedness under such agreement or agreements or indenture or indentures
or any successor or replacement agreement or agreements or indenture or indentures increasing the amount loaned or issued thereunder or altering the maturity thereof (except to the extent any such refinancing, replacement or restructuring or
agreement or instrument is designated by the Issuer to not be included in the definition of “ABL Credit Agreement”) and (ii) whether or not the credit agreement referred to in clause (i) remains outstanding, if designated by the
Issuer to be included in the definition of “ABL Credit Agreement,” one or more (A) debt facilities or commercial paper facilities, providing for revolving credit loans, term loans, securitization or receivables financing (including
through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B) debt securities, indentures or other forms of debt financing (including convertible or
exchangeable debt instruments or bank guarantees or bankers’ acceptances), or (C) instruments or agreements evidencing any other indebtedness, in each case, with the same or different borrowers or issuers and, in each case, as amended,
supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. 

“ABL Credit Facilities” means one or more asset-based revolving credit facilities, including the ABL Credit Agreement, with
banks or other institutional or other lenders providing for asset-based revolving credit loans or letters of credit, as such credit facility, in whole or in part, in one or more instances, may be amended, restated, modified, supplemented, extended,
renewed, refunded, restructured, refinanced or replaced or otherwise modified from time to time and whether by the same or any other agent, lender or group of lenders or other party. 

“ABL Intercreditor Agreement” means the intercreditor agreement dated as of the Issue Date between the ABL Collateral
Agent and the Priority Lien Collateral Trustee that sets forth the relative priority of the Priority Liens and Junior Liens, on the one hand, compared to the ABL Liens, on the other hand or other intercreditor agreement with terms substantially
consistent therewith in effect at such time. 
 “ABL Lien” means a Lien granted, or purported to be granted, by an
ABL Security Document to the ABL Collateral Agent, at any time, upon any property of the Issuer or any Guarantor to secure ABL Lien Obligations; provided that any such Lien upon Collateral other than ABL Priority Collateral will be junior to the
Priority Liens and the Junior Liens to the extent set forth in the ABL Intercreditor Agreement (any such junior Lien, a “Junior ABL Lien”). 

“ABL Lien Debt” means Funded Debt and letter of credit and reimbursement obligations with respect thereto incurred by the
Issuer or any of the Guarantors that is secured by an ABL Lien that is permitted to be incurred and so secured under each applicable Secured Debt Document; provided that such Funded Debt is subject to the ABL Intercreditor Agreement. 

“ABL Lien Documents” means any ABL Credit Facility, all ABL Security Documents, each of the other “Loan
Documents” (as that term is defined in any ABL Credit Facility) and each of the other agreements, documents and instruments executed pursuant thereto or in connection therewith. 

  
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 “ABL Lien Obligations” means the ABL Lien Debt and all other Obligations
in respect of ABL Lien Debt, and guarantees thereof, and including obligations with respect to loans, letters of credit, Swap Obligations, Bank Product Obligations, obligations to provide cash collateral in respect of letters of credit or Bank
Product Obligations or indemnities in respect thereof, any other indemnities or guarantees, and all other amounts payable under or that are secured, or intended to be secured, under the ABL Lien Documents and are subject to the terms of the ABL
Intercreditor Agreement, solely to the extent such Obligations and such guarantees thereof are permitted to be incurred under the ABL Lien Documents and the Secured Debt Documents and are so secured under the ABL Lien Documents. 

“ABL Priority Collateral” means all rights, title and interests of each Grantor in the following Collateral, in each
case, whether now owned or existing or hereafter acquired or arising and wherever located, including, without duplication, (a) all rights of each Grantor to receive moneys due and to become due under or pursuant to the following, (b) all
rights of each Grantor to receive return of any premiums for or proceeds of any insurance, indemnity, warranty or guaranty with respect to the following or to receive condemnation proceeds with respect to the following, (c) all claims of each
Grantor for damages arising out of or for breach of or default under any of the following, and (d) all rights of each Grantor to terminate, amend, supplement, modify or waive performance under any of the following, to perform thereunder and to
compel performance and otherwise exercise all remedies thereunder: (i) all accounts, but solely for purposes of this clause (i), excluding rights to payment for any property which specifically constitutes Notes Priority Collateral that has been
sold, leased, licensed, assigned or otherwise disposed of; provided, however, that, for the avoidance of doubt, all rights to payment arising from any sale, lease, license, assignment or other disposition of inventory or goods (other than fixtures
or equipment) or the provision of services shall constitute ABL Priority Collateral; (ii) all chattel paper; (iii) all deposit accounts, securities accounts and all other demand, deposit, time, savings, cash management, passbook and
similar accounts maintained with any bank or other financial institution (other than to the extent any such deposit accounts, securities accounts or other accounts solely contain identifiable proceeds of any Notes Priority Collateral) and all cash,
money, securities, instruments and other investments deposited or required to be deposited in any of the foregoing; (iv) all inventory and all rights to receive payments, indebtedness and other obligations which arise as a result of the sale,
lease or other disposition of inventory or goods (in each case other than fixtures or equipment) or provision of services, including the right to payment of interest or finance charges; (v) all cash, money and Cash Equivalents (other than
identifiable proceeds of any Notes Priority Collateral and cash solely for so long as it is pledged to third parties to the extent permitted under the Credit Agreement); (vi) to the extent evidencing or governing any of the items referred to in the
preceding clauses (i) through (v), all general intangibles (excluding Equity Interests and any intellectual property to the extent such intellectual property is not attached to or necessary to sell any item of inventory), letters of credit
(whether or not the respective letter of credit is evidenced by a writing), letter-of-credit rights, instruments and documents; provided that to the extent any of the
foregoing also relates to any Notes Priority Collateral only that portion related to the items referred to in the preceding clauses (i) through (v) as being included in the ABL Priority Collateral shall be included in the ABL Priority
Collateral; (vii) to the extent relating to any of the items referred to in the preceding clauses (i) through (vi), all insurance; provided that to the extent any of the foregoing also relates to Notes Priority Collateral, only that
portion related to the items referred to in the preceding clauses (i) through (vi) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (viii) to the extent relating to any of the items
referred to in the preceding clauses (i) through (vii), all supporting obligations; provided that to the extent any of the foregoing also relates to Notes Priority Collateral, only that portion related to the items referred to in the preceding
clauses (i) through (vii) as being included in the ABL Priority Collateral shall be included in the ABL Priority Collateral; (ix) to the extent relating to any of the items referred to in the preceding clauses (i) through (viii),
all commercial tort claims; provided that to the extent any of the foregoing also relates to Notes Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (viii) as being included in the
ABL Priority Collateral shall be included in the ABL 

  
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Priority Collateral; (x) all books and records, including all books, databases, customer lists and records related thereto and any general intangibles at any time evidencing or relating to
any of the foregoing; and (xi) all cash proceeds and, solely to the extent not constituting Notes Priority Collateral, non-cash proceeds, products, accessions, rents and profits of or in respect of any of
the foregoing (including all insurance proceeds) and all collateral security, guarantees and other collateral support given by any Person with respect to any of the foregoing. Any Collateral of any type received in exchange for ABL Priority
Collateral or Notes Priority Collateral pursuant to certain enforcement actions or during an Insolvency Proceeding will be treated as priority Collateral of the same type as that for which it was received in exchange (ABL Priority Collateral or
Notes Priority Collateral, as the case may be). For the avoidance of doubt, no Excluded Assets shall constitute ABL Priority Collateral. 

“ABL Security Documents” means the ABL Intercreditor Agreement, all security agreements, collateral assignments,
mortgages, control agreements or other grants or transfers for security executed and delivered by the Issuer or any Guarantor creating (or purporting to create) a Lien upon the ABL Priority Collateral in favor of the ABL Collateral Agent, for the
benefit of any of the holders of ABL Lien Obligations, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and the ABL Intercreditor Agreement. 

“Act of Required Secured Parties” means, as to any matter at any time: 

(a)    until the earlier of (x) the Discharge of Notes Obligations and (y) the Outstanding Notes Threshold Date,
a direction in writing delivered to the Priority Lien Collateral Trustee by or with the written consent of, the holders of more than 50% of the Priority Lien Notes then outstanding; 

(b)    from and after the earlier of (x) the Discharge of Notes Obligations and (y) the Outstanding Notes
Threshold Date, but prior to the Discharge of Priority Lien Obligations, a direction in writing delivered to the Priority Lien Collateral Trustee by or with the written consent of, the holders of (or the Priority Lien Representatives representing
the holders of) more than 50% of the sum of: 
 (i)    the aggregate outstanding principal amount of
Priority Lien Debt (including the face amount of outstanding letters of credit whether or not then available or drawn); and 

(ii)    other than in connection with the exercise of remedies, the aggregate unfunded commitments to
extend credit which, when funded, would constitute Priority Lien Debt; provided, however, that if at any time prior to the Discharge of Priority Lien Obligations the only remaining Priority Lien Obligations are Swap Obligations, then the term
“Act of Required Secured Parties” will mean the holders of a majority of the aggregate “settlement amount” (or similar term) as defined in the Swap Contracts (or, with respect to any Swap Contract that has been terminated in
accordance with its terms, the amount, if any, then due and payable by the Issuer or any other Grantor (exclusive of expenses and similar payments but including any early termination payments then due) under such Swap Contract) under all Swap
Contracts; provided further, that any Swap Contract with a “settlement amount” (or similar term) or termination payment that is a negative number shall be disregarded for purposes of all calculations required by the term “Act of
Required Secured Parties;” and 
 (c)    at any time after the Discharge of Priority Lien Obligations, a direction
in writing delivered to the Junior Lien Collateral Trustee by or with the written consent of the holders of (or the Junior Lien Representatives representing the holders of) Junior Lien Debt representing the Required Junior Lien Debtholders. 

  
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 For purposes of this definition, (a) Secured Debt registered in the name of, or beneficially
owned by, the Issuer or any Affiliate of the Issuer will be deemed not to be outstanding and neither the Issuer nor any Affiliate of the Issuer will be entitled to vote such Secured Debt (in each case, as identified in writing to the applicable
Collateral Trustee by the applicable Secured Debt Representative) and (b) votes will be determined in accordance with Section 7.02 hereof. 

“Additional Secured Debt” has the meaning set forth in Section 3.08(b)(i) hereof. 

“Additional Secured Debt Designation” means a notice in substantially the form of Exhibit A. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control
with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. 
 “Agreement” has the meaning set forth in the preamble. 

“Bank Product Obligations” means all obligations arising under a Cash Management Agreement (or similar term) (as defined in
any ABL Credit Facility), that are owed to a Cash Management Bank (or similar term) (as defined in any ABL Credit Facility). 

“Bankruptcy Code” means Title 11 of the United States Code. 

“Bankruptcy Law” means the Bankruptcy Code and any other federal, state or foreign law for relief of debtors. 

“Business Day” means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or
required by law to close in New York City or the place of payment. 
 “Capital Stock” means: 

(a)    in the case of a corporation, corporate stock or shares; 

(b)    in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; 
 (c)    in the case of a partnership or limited liability
company, partnership or membership interests (whether general or limited); and 
 (d)    any other interest or
participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 

“Cash Collateral” means “Cash Collateral” as such term is defined in Section 363(a) of the Bankruptcy Code.

  
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 “Cash Equivalents” means: 

(a)    U.S. dollars, pounds sterling, euros, the national currency of any member state in the European Union or such local
currencies held by an entity from time to time in the ordinary course of business; 
 (b)    securities issued or
directly and fully guaranteed or insured by the U.S. government or any country that is a member of the European Union or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; 

(c)    certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or less from the
date of acquisition, bankers’ acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250 million and whose long-term debt
is rated “A” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency); 

(d)    repurchase obligations for underlying securities of the types described in clauses (2) and (3) above
entered into with any financial institution meeting the qualifications specified in clause (3) above; 

(e)    commercial paper issued by a corporation (other than an Affiliate of the Issuer) rated at least “A-1” or the equivalent thereof by Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case maturing within one year after the date
of acquisition; 
 (f)    readily marketable direct obligations issued by any state of the United States of America or
any political subdivision thereof having one of the two highest rating categories obtainable from either Moody’s or S&P (or reasonably equivalent ratings of another internationally recognized ratings agency) in each case with maturities not
exceeding two years from the date of acquisition; 
 (g)    indebtedness issued by Persons (other than the Sponsors or
any of their Affiliates) with a rating of “A” or higher from S&P or “A-2” or higher from Moody’s (or reasonably equivalent ratings of another internationally recognized ratings
agency) in each case with maturities not exceeding two years from the date of acquisition; and 
 (h)    investment
funds investing at least 95% of their assets in securities of the types described in clauses (a) through (g) above. 

“Class” means (i) in the case of Junior Lien Obligations, every Series of Junior Lien Debt and all other Junior
Lien Obligations, taken together, and (ii) in the case of Priority Lien Obligations, every Series of Priority Lien Debt and all other Priority Lien Obligations, taken together. This Agreement includes two Classes of Secured Parties, the holders
of Priority Lien Obligations and the holders of Junior Lien Obligations. 
 “Code” means the Internal Revenue Code of 1986,
as amended. 
 “Collateral” means, (i) in the case of each Series of Priority Lien Debt, all properties and
assets of the Issuer and the other Grantors now owned or hereafter acquired in which Liens have been granted, or purported to be granted, or required to be granted, to the Priority Lien Collateral Trustee to secure any or all of the Priority Lien
Obligations, including any property subject to Liens granted pursuant to Section 2.08 hereof and (ii) in the case of each Series of Junior Lien Debt, all properties and assets of the Issuer and the other Grantors now owned or hereafter
acquired in which Liens have been granted, or purported to be granted, or required to be granted, to the Junior Lien Collateral Trustee to 

  
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secure any or all of the Junior Lien Secured Obligations, and shall, in the case of each of clauses (i) and (ii), exclude any properties and assets in which the applicable Collateral Trustee
is required to release its Liens pursuant to Section 3.02 hereof; provided, that, if such Liens are required to be released as a result of the sale, transfer or other disposition of any properties or assets of the Issuer or any other
Grantor, such assets or properties will cease to be excluded from the Collateral if the Issuer or any other Grantor thereafter acquires or reacquires such assets or properties. For the avoidance of doubt, no Excluded Assets shall constitute
Collateral. 
 “Collateral Trustee” shall mean (i) in respect of the Priority Lien Obligations, the Priority
Lien Collateral Trustee and (ii) in respect of the Junior Lien Obligations, the Junior Lien Collateral Trustee. 
 “Collateral
Trust Joinder” means (i) with respect to the provisions of this Agreement relating to any Additional Secured Debt, an agreement substantially in the form of Exhibit B and (ii) with respect to the provisions of this
Agreement relating to the addition of additional Grantors, an agreement substantially in the form of Exhibit C. 
 “Commercially
Reasonable Efforts for Real Property” means, for purposes of obtaining consent from the landlord or lessor under a Real Property Lease, the use of commercially reasonable efforts by the Issuer or other applicable Grantor to obtain consent
from the landlord or lessor under the applicable Real Property Lease to the granting of a mortgage, or other lien or encumbrance on the leasehold estate thereunder; provided, however, that commercially reasonable efforts shall not include the
payment of any consent fee, waiver fee or similar fee or require the Issuer or the applicable Grantor to renegotiate or amend the applicable Real Property Lease in any manner detrimental or adverse to the Issuer or such Grantor. 

“Controlling Priority Lien Representative” means (i) until the earlier of (x) the Discharge of Notes Obligations
and (y) the Outstanding Notes Threshold Date, the Priority Lien Collateral Trustee and (ii) from and after the earlier of (x) the Discharge of Notes Obligations and (y) the Outstanding Notes Threshold Date, the Major Non-Controlling Priority Representative. 
 “Controlling Representative” means at
any time (i) prior to the Discharge of Priority Lien Obligations, the Controlling Priority Lien Representative and (ii) after the Discharge of Priority Lien Obligations, the Junior Lien Representative that represents the Series of Junior
Lien Debt with the then largest outstanding principal amount of Junior Lien Obligations. 
 “Credit Facility” means
one or more credit facilities or commercial paper facilities with banks or other institutional lenders providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special
purpose entities formed to borrow from such lenders against such receivables) or letters of credit or issuances of debt securities evidenced by notes, debentures, bonds or similar instruments, in each case, as amended, restated, amended and
restated, supplemented or otherwise modified from time to time including any refinancing that has been designated in accordance with Section 3.08 hereof. 

“DIP Financing” has the meaning set forth in Section 2.08(a) hereof. 

“Discharge of Notes Obligations” means that the Priority Lien Obligations in connection with the Priority Lien Notes are no
longer secured by, and no longer required to be secured by, the Collateral pursuant to the terms of the Priority Lien Indenture or the other applicable Security Documents; provided that a Discharge of Notes Obligations shall be deemed not to
have occurred if the Issuer has entered into any replacement credit agreement or indenture that has been designated in accordance with the terms of this Agreement. 

  
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 “Discharge of Priority Lien Obligations” means the indefeasible payment
in full in cash of the Priority Lien Obligations (other than Swap Obligations and indemnity and other contingent obligations as to which no claim has been asserted) and the termination of all commitments thereunder; provided, however, that if, at
any time after the Discharge of Priority Lien Obligations has occurred, the Issuer thereafter enters into any Priority Lien Document evidencing a Priority Lien Debt the incurrence of which is not prohibited by any applicable Secured Debt Document,
then such Discharge of Priority Lien Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement with respect to such new Priority Lien Debt (other than with respect to any actions taken as a result of the
occurrence of such first Discharge of Priority Lien Obligations), and, from and after the date on which the Issuer designates such Funded Debt as Priority Lien Debt in accordance with Section 3.08 hereof, the Obligations under such Priority
Lien Document shall automatically and without any further action be treated as Priority Lien Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein and any
Junior Lien Obligations shall be deemed to have been at all times Junior Lien Obligations and at no time Priority Lien Obligations. 

“Equity Interests” means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any
debt security that is convertible into, or exchangeable for, Capital Stock). 
 “Excluded Assets” means: 

(a)    any leasehold rights and leasehold interest in Real Property leased by the Issuer or any other Grantor that
(i) is not Material Leased Real Property or (ii) with respect to which the Issuer or the respective Grantor has not obtained, after using Commercially Reasonable Efforts for Real Property, the consent or approval of the applicable lessor
or landlord to the granting a mortgage or other lien or encumbrance on the leasehold estate, as required under the applicable Real Property Lease; 

(b)    any fee-owned real property that is not Material Owned Real Property (and
fixtures thereon); 
 (c)    (i) Equity Interests constituting more than 65% of each class of issued and outstanding
voting Equity Interests of (A) any foreign Subsidiary at any time, (B) any direct or indirect domestic Subsidiary (x) substantially all the assets of which consist of Equity Interests of one or more foreign Subsidiaries or
(y) that is treated as a disregarded entity for U.S. federal income tax purposes that holds equity of one or more foreign Subsidiaries and (C) a Person that is a “controlled foreign corporation” within the meaning of
Section 957(a) of the Code, (ii) Equity Interests in partnerships, joint ventures and non-wholly owned Subsidiaries which (A) cannot be pledged without the consent of one or more third parties
which has not been obtained or (B) if pledged, would result in adverse tax consequences to the applicable Grantor and (iii) margin stock; 

(d)    motor vehicles and other assets subject to certificates of title to the extent that a security interest therein
cannot be perfected by the filing of a UCC-1 financing statement; 
 (e)    (x)
any property subject to a finance lease or purchase money security interest (in the case of any after-acquired property, subject to a finance lease or purchase money security interest existing prior to the applicable acquisition), in each case, that
is permitted to be incurred or (y) any lease, license or other similar agreement or similar arrangement existing on the Issue Date and that is permitted to be incurred (in the case of clauses (x) and (y), other than any such property,
lease, license, agreement 

  
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or arrangement comprising or relating to any accounts, inventory or any other asset included or intended by the parties hereto to be included in the borrowing base in the ABL Credit Agreement, or
affecting the sale, enforceability or collectability thereof) to the extent that a grant of a security interest therein would give rise to a termination right (in favor of a Person other than the Issuer or any other Grantor) pursuant to any
“change of control” or other similar provision or would invalidate or violate the terms of, as applicable, any such finance lease, purchase money security interest, lease, license, agreement or arrangement or create a right of termination
in favor of any other party thereto (other than the Issuer or any other Grantor) after giving effect to the applicable anti-assignment provisions of the UCC, in each case under this clause (5), other than proceeds and receivables thereof, the
assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition; 
 (f)    assets
(including any Equity Interests) other than accounts and inventory of any Grantor with respect to which a security interest is prohibited by or in violation of any requirement of laws applicable to such Grantor after giving effect to the applicable
anti-assignment provisions of the UCC, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the UCC notwithstanding such prohibition; 

(g)    commercial tort claims with a value of less than $250,000; 

(h)    any intent-to-use trademark
application prior to the filing and acceptance of a “Statement of Use”, “Amendment to Allege Use” or similar filing with respect thereto, only to the extent, if any, that, and solely during the period if any, in which, the grant
of a security interest therein may impair the validity or enforceability of such intent-to-use trademark application under applicable U.S. federal law); 

(i)    (i) any deposit account, securities account or commodities account of any Grantor holding at all times less than
$500,000 individually and $2,000,000 in the aggregate and (ii) any other deposit account of any Grantor used exclusively to hold funds (A) to be used to pay payroll and other employee wage and benefit payments to or for the benefit of any
Grantor’s or any of its Subsidiaries’ officers, directors or employees, (B) to be used to pay taxes (including sales tax) required to be collected, remitted or withheld by any Grantor or any of its Subsidiaries, (C) zero balance
disbursement accounts or (D) which any Grantor or any of its Subsidiaries holds on behalf of a third party (other than any Affiliate of such Grantor or such Subsidiary) as escrow or fiduciary for such third party; 

(j)    any assets if the creation or perfection of pledges of, or Liens in such assets would result in material adverse
tax consequences to the Issuer or any of its Subsidiaries, as reasonably determined by the Issuer in consultation with the ABL Collateral Agent and the Priority Lien Collateral Trustee; and 

(k)    any assets as to which the ABL Collateral Agent, the Priority Lien Collateral Trustee and the Issuer reasonably
agree that the cost to any Grantor of a security interest in such asset or perfection thereof is excessive in relation to the benefit to the applicable secured parties of the security to be afforded thereby; 

provided that “Excluded Assets” shall not include any proceeds, products, substitutions or replacements of Excluded Assets (unless such
proceeds, products, substitutions or replacements would otherwise constitute Excluded Assets). 
 “Funded Debt”
means, with respect to any specified Person, any indebtedness of such Person (excluding accrued expenses and trade payables), whether or not contingent: 

(a)    in respect of borrowed money or advances; or 

  
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 (b)    evidenced by loan agreements, bonds, notes or debentures or similar
instruments or letters of credit (solely to the extent such letters of credit or other similar instruments have been drawn and remain unreimbursed), or, without duplication, reimbursement agreements in respect thereof. 

For the avoidance of doubt, “Funded Debt” shall not include Swap Obligations. 

“Grantors” means the Issuer, the Guarantors and any other Person (if any) that at any time provides collateral for any
Secured Obligations. 
 “Guarantee” means a guarantee (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any indebtedness or other obligations. The
amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the indebtedness in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by such person in good faith. 
 “Guarantor” means, with respect to any Priority Lien
Obligations, each person who has Guaranteed payment of any Priority Lien Obligations and, with respect to any Junior Lien Obligations, each person who has Guaranteed payment of any Junior Lien Obligations. 

“Hedge Provider” means the counterparty to the Issuer or any Subsidiary of the Issuer under any Swap Contract. 

“Indemnified Liabilities” means any and all liabilities (including all environmental liabilities), obligations,
losses, damages, penalties, actions, judgments, suits, costs, taxes, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, performance, administration or enforcement of this Agreement or any of the other
Security Documents, including any of the foregoing relating to the use of proceeds of any Secured Debt or the violation of, noncompliance with or liability under, any law (including environmental laws) applicable to or enforceable against the
Issuer, any of its Subsidiaries or any other Grantor or any of the Collateral and all reasonable costs and expenses (including reasonable fees and expenses of legal counsel selected by the Indemnitee) incurred by any Indemnitee in connection with
any claim, action, investigation or proceeding in any respect relating to any of the foregoing, whether or not suit is brought. 

“Indemnitee” has the meaning set forth in Section 7.12(a) hereof. 

“Insolvency Proceeding” means: 

(a)    any voluntary or involuntary case or proceeding under any Bankruptcy Law with respect to any Grantor; 

(c)    any other voluntary or involuntary insolvency or bankruptcy case or proceeding, or any receivership, liquidation or
other similar case or proceeding with respect to any Grantor or with respect to a material portion of its assets; 

(d)    any liquidation, dissolution, or winding up of any Grantor (other than any of the foregoing permitted under the ABL
Lien Documents and the Secured Debt Documents) whether voluntary or involuntary and whether or not involving insolvency or bankruptcy; or 

  
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 (e)    any assignment for the benefit of creditors or any other marshaling of
assets or liabilities of any Grantor. 
 “Issue Date” has the meaning set forth in the recitals. 

“Issuer” has the meaning set forth in the preamble. 

“Junior ABL Lien” has the meaning given to such term in the definition of “ABL Lien”. 

“Junior Lien” means a Lien on Collateral granted by a Junior Lien Security Document to the Junior Lien Collateral
Trustee, at any time, upon any property of the Issuer or any Guarantor to secure Junior Lien Obligations. 
 “Junior Lien Adequate
Protection Payments” has the meaning set forth in Section 2.08(d) hereof. 
 “Junior Lien Collateral
Trustee” has the meaning set forth in Section 2.02(a) hereof. 
 “Junior Lien Debt” means
Funded Debt (excluding any ABL Lien Debt and any Priority Lien Debt), that is secured by a Junior Lien and that is permitted to be incurred and permitted to be so secured under each applicable Secured Debt Document; provided that: 

(a)    on or before the date on which such Funded Debt is incurred by the Issuer, such Funded Debt is designated by the
Issuer as “Junior Lien Debt” for the purposes of the Secured Debt Documents in an Additional Secured Debt Designation executed and delivered in accordance with Section 3.08 hereof; provided, that no Funded Debt may be designated as
both Junior Lien Debt and Priority Lien Debt, and no ABL Lien Debt may be designated as Junior Lien Debt; 

(f)    unless such Funded Debt is issued under an existing Secured Debt Document for any Series of Junior Lien Debt whose
Secured Debt Representative is already party to this Agreement, the Junior Lien Representative for such Funded Debt executes and delivers a Collateral Trust Joinder in accordance with Section 3.08(b) hereof; and 

(g)    all other requirements set forth in Section 3.08 hereof have been complied with. 

“Junior Lien Documents” means, collectively, any indenture, credit agreement or other agreement pursuant to which any
Junior Lien Debt is incurred and the Junior Lien Security Documents. 
 “Junior Lien Enforcement Date” has the
meaning set forth in Section 2.04(a) hereof. 
 “Junior Lien Obligations” means Junior Lien Debt and all other
Obligations in connection therewith including, without limitation, interest and premium (if any) (including Post-Petition Interest whether or not allowable), and all guarantees of any of the foregoing. 

“Junior Lien Representative” means, in the case of any Series of Junior Lien Debt, the trustee, agent or
representative of the holders of such Series of Junior Lien Debt who maintains the transfer register for such Series of Junior Lien Debt and (i) is appointed as a Junior Lien Representative (for purposes related to the administration of the
Security Documents) pursuant to the indenture, credit agreement or other agreement governing such Series of Junior Lien Debt, together with its successors in such capacity, and (ii) who has executed a Collateral Trust Joinder, together with its
successor in such capacity. 

  
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 “Junior Lien Secured Parties” means the holders of Junior Lien
Obligations and each Junior Lien Representative and the Junior Lien Collateral Trustee. 
 “Junior Lien Security
Documents” means all security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the
Issuer or any Guarantor creating (or purporting to create) a Lien upon Collateral in favor of the Junior Lien Collateral Trustee, for the benefit of any of the Junior Lien Secured Parties, in each case, as amended, modified, renewed, restated or
replaced, in whole or in part, from time to time, in accordance with its terms and Section 7.01 hereof. 
 “Junior Trust
Estate” has the meaning set forth in Section 2.02(b) hereof. 
 “Lien” means, with respect to any
asset, any mortgage, lien, pledge, charge, security interest or similar encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title
retention agreement or any lease in the nature thereof); provided that in no event shall an operating lease or an agreement to sell or agreement to give a security interest in and any filing or agreement to give any financing statement under
the UCC (or equivalent statutes) of any jurisdiction be deemed to constitute a Lien. 
 “Major
Non-Controlling Priority Representative” means (i) prior to an Outstanding Notes Threshold Date, the Priority Lien Representative of a Series of Priority Lien Debt (other than the trustee with
respect to the Priority Lien Debt pursuant to the Priority Lien Notes) that constitutes the largest outstanding principal amount of any then outstanding Series of Priority Lien Debt (provided, however, that if there are two outstanding Series of
Priority Lien Debt which have an equal outstanding principal amount, the Series of Priority Lien Debt with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this clause (i)) and
(ii) on or after an Outstanding Notes Threshold Date, the Priority Lien Representative of the Series of Priority Lien Debt that constitutes the largest outstanding principal amount of any then outstanding Series of Priority Lien Debt (provided,
however, that if there are two outstanding Series of Priority Lien Debt which have an equal outstanding principal amount, the Series of Priority Lien Debt with the earlier maturity date shall be considered to have the larger outstanding principal
amount for purposes of this clause (ii)). 
 “Material Leased Real Property” means (i) as of the Issue Date, all Real
Property located in Tuscaloosa County or Jefferson County, Alabama subject to a Real Property Lease under which the Issuer or any other Grantor is the lessee or tenant (x) that is essential to the Issuer’s mine plan for the period from the
Issue Date to the Stated Maturity of the Priority Lien Notes and (y) in respect of which the coal royalties payable under such Real Property Lease are or would reasonably be expected to be equal to or greater than $1.5 million, in the
aggregate, during the period from the Issue Date to the Stated Maturity of the Priority Lien Notes, in the case of each of clauses (x) and (y) above, as determined by the Issuer on the Issue Date in its reasonable judgment, and
(ii) any other Real Property subject to a Real Property Lease that the Issuer or any other Grantor enters into or acquires after the Issue Date as the lessee or tenant thereunder for the purpose of mining or conducting mining operations on such
leased Real Property (including, without limitation, extraction of coal and other minerals and the processing and transport thereof) (x) that is essential to the Issuer’s mine plan for the period from the date of execution of such Real
Property Lease to the Stated Maturity of the Priority Lien Notes and (y) in respect of which the coal royalties payable under such Real Property Lease are or would reasonably be expected to be equal to or greater than $1.5 million, in the
aggregate during the period from date of execution of such Real Property Lease to the Stated Maturity of the Priority Lien Notes, in the case of each of clauses (x) and (y) above, as determined by the Issuer on the date of execution of
such Real Property Lease in its reasonable judgment. 

  
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 “Material Owned Real Property” means (i) as of the Issue Date, all Real
Property consisting of a fee or surface estate located in Tuscaloosa County or Jefferson County, Alabama owned by the Issuer or any other Grantor that is essential to the Issuer’s mine plan or surface operations (including the transportation
and/or shipping of coal, support for mining activities and maintenance of underground and surface equipment) for the period from the Issue Date to the Stated Maturity of the Priority Lien Notes as determined by the Issuer on the Issue Date in its
reasonable judgment, and (ii) any other Real Property consisting of a fee or surface estate that the Issuer or any other Grantor acquires an ownership interest in after the Issue Date for the purpose of mining or conducting mining operations on
such Real Property (including, without limitation, extraction of coal and other minerals and the processing and transport thereof) the fair value of which, as of the date of acquisition thereof, is equal to or greater than $10.0 million as
determined by the applicable tax assessor. 
 “Modification” has the meaning set forth in Section 3.08(d)(i)
hereof. 
 “Moody’s” means Moody’s Investors Service, Inc. or any successor to the rating agency business
thereof. 
 “Mortgage” has the meaning set forth in Section 3.08(d)(i) hereof. 

“Mortgaged Property” has the meaning set forth in Section 3.08(d)(i) hereof. 

“Notes Priority Collateral” means all rights, title and interests of each Grantor in the following Collateral, in each
case, whether now owned or existing or hereafter acquired or arising and wherever located, including, without duplication, (a) all rights of each Grantor to receive moneys due and to become due under or pursuant to the following, (b) all
rights of each Grantor to receive return of any premiums for or proceeds of any insurance, indemnity, warranty or guaranty with respect to the following or to receive condemnation proceeds with respect to the following, (c) all claims of each
Grantor for damages arising out of or for breach of or default under any of the following and (d) all rights of each Grantor to terminate, amend, supplement, modify or waive performance under any of the following, to perform thereunder and to
compel performance and otherwise exercise all remedies thereunder: (i) all machinery and equipment; (ii) all Material Owned Real Property and Material Leased Real Property; (iii) all intellectual property; (iv) all Equity
Interests in all direct Subsidiaries of any Grantor; (v) all intercompany indebtedness of the Issuer and its Subsidiaries owed to any Grantor; (vi) all as-extracted collateral unless (and until) it
is (or has become) inventory; (vii) all fixtures; (viii) all Related Mining Assets; (ix) all other assets of any Grantor, whether real, personal or mixed, in each case, not constituting ABL Priority Collateral; (x) to the extent
evidencing or governing any of the items referred to in the preceding clauses (i) through (ix), all general intangibles, letters of credit (whether or not the respective letter of credit is evidenced by a writing), letter-of-credit rights, instruments and documents; provided, however, that to the extent any of the foregoing also evidence, govern, secure or otherwise relate to any ABL
Priority Collateral only that portion related to the items referred to in the preceding clauses (i) through (ix) as being included in the Notes Priority Collateral shall be included in the Notes Priority Collateral; (xi) to the extent
relating to any of the items referred to in the preceding clauses (i) through (x), all insurance; provided that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in
the preceding clauses (i) through (x) as being included in the Notes Priority Collateral shall be included in the Notes Priority Collateral; (xii) to the extent relating to any of the items referred to in the preceding clauses
(i) through (xi), supporting obligations; provided that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the items referred to in the preceding clauses (i) through (xi) as being
included in the Notes Priority Collateral shall be included in the Notes Priority Collateral; (xiii) to the extent relating to any of the items referred to in the preceding clauses (i) through (xii), all commercial tort claims; provided
that to the extent any of the foregoing also relates to ABL Priority Collateral, only that portion related to the 

  
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 items referred to in the preceding clauses (i) through (xii) as being included in the Notes Priority
Collateral shall be included in the Notes Priority Collateral; (xiv) all books and records, including all books, databases, customer lists and records related thereto and any general intangibles at any time evidencing or relating to any of the
foregoing; and (xv) all cash proceeds, and, solely to the extent not constituting ABL Priority Collateral, non-cash proceeds, products, accessions, rents and profits of or in respect of any of the
foregoing (including all insurance proceeds) and all collateral security, guarantees and other collateral support given by any Person with respect to any of the foregoing. Any Collateral of any type received in exchange for ABL Priority Collateral
or Notes Priority Collateral pursuant to certain enforcement actions or during an Insolvency Proceeding will be treated as priority Collateral of the same type as that for which it was received in exchange (ABL Priority Collateral or Notes Priority
Collateral, as the case may be). For the avoidance of doubt, no Excluded Assets shall constitute Notes Priority Collateral. 

“Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements (including, without
limitation, reimbursement obligations with respect to letters of credit and bankers’ acceptances), damages and other liabilities payable under the applicable Secured Debt Documents (including interest, fees, expenses, indemnity claims and other
monetary obligations accrued during the pendency of an insolvency proceeding); provided that Obligations shall not include any of the foregoing amounts in favor of third parties other than (x) with respect to Priority Lien Obligations under
each Series of Priority Lien Debt, the Priority Lien Collateral Trustee and the Priority Lien Secured Parties and (y) with respect to Junior Lien Obligations under each Series of Junior Lien Debt, the Junior Lien Collateral Trustee and the
Junior Lien Secured Parties. 
 “Officer’s Certificate” means a certificate signed on behalf of the Issuer by an
Officer of the Issuer who is the principal executive officer, the principal financial officer, the treasurer or the principal accounting officer of the Issuer, which meets the requirements set forth in the Priority Lien Indenture. 

“Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the recipient thereof. The counsel may
be an employee of or counsel to the Issuer. 
 “Outstanding Notes Threshold Date” means the date that both (i) the
outstanding principal amount of Priority Lien Notes outstanding under the Priority Lien Indenture (including any additional notes issued under the Priority Lien Indenture) is less than 15% of the aggregate outstanding principal amount of all
Priority Lien Debt and (ii) the aggregate outstanding principal amount of another Series of Priority Lien Debt exceeds the outstanding principal amount of Priority Lien Notes outstanding under the Priority Lien Indenture. 

“Pay-Over Amount” has the meaning set forth in Section 2.08(d) hereof.

 “Permitted Prior Lien” means any Lien that has priority over the Lien of the Priority Lien Collateral Trustee for
the benefit of the Priority Lien Secured Parties which Lien was permitted under each Priority Lien Document. 
 “Person”
means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. 

“Post-Petition Interest” means interest, fees, expenses and other charges that pursuant to the Priority Lien Documents
or Junior Lien Documents, as applicable, continue to accrue after the commencement of any Insolvency Proceeding, whether or not such interest, fees, expenses and other charges are allowed or allowable under the Bankruptcy Code or in any such
Insolvency Proceeding. 

  
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 “Priority Lien Collateral Trustee” has the meaning set forth in
Section 2.01(a) hereof. 
 “Priority Lien” means a Lien granted, or purported to be granted, by a Security
Document to the Priority Lien Collateral Trustee, at any time, upon any property of the Issuer or any Guarantor to secure Priority Lien Obligations. 

“Priority Lien Debt” means: 

(a)    the Priority Lien Notes; and 

(h)    any other Funded Debt (including additional notes issued under the Priority Lien Indenture and borrowings under any
Credit Facilities, but excluding any ABL Lien Debt) that is secured by a Priority Lien and that is permitted to be incurred and permitted to be so secured under the ABL Lien Document; provided, that, in the case of Funded Debt referred to in
this clause (b): 
 (i)    on or before the date on which such Funded Debt is incurred by the Issuer,
such Funded Debt is designated by the Issuer as “Priority Lien Debt” for the purposes of the Secured Debt Documents in an Additional Secured Debt Designation executed and delivered in accordance with Section 3.08(b) hereof; provided
that no Funded Debt may be designated as both Priority Lien Debt and Junior Lien Debt and no ABL Lien Debt may be designated as Priority Lien Debt; 

(ii)    unless such Funded Debt is issued under an existing Secured Debt Document for any Series of
Priority Lien Debt whose Secured Debt Representative is already party to the Collateral Trust Agreement, the Priority Lien Representative for such Funded Debt executes and delivers a Collateral Trust Joinder in accordance with Section 3.08(b)
hereof; and 
 (iii)    all other relevant requirements set forth in Section 3.08 hereof have been
complied with. 
 For the avoidance of doubt, Swap Obligations do not constitute Priority Lien Debt but may constitute Priority Lien
Obligations. Swap Obligations that are secured pursuant to the Priority Lien Documents with respect to a Series of Priority Lien Debt shall be “related to” such Series of Priority Lien Debt for purposes of this Agreement. 

“Priority Lien Documents” means, collectively, the Priority Lien Indenture, the Priority Lien Notes and the Security
Documents, any other indenture, credit agreement or other agreement pursuant to which any Priority Lien Debt is incurred, and each of the other agreements, documents and instruments executed pursuant thereto or in connection therewith. 

“Priority Lien Indenture” has the meaning set forth in the recitals. 

“Priority Lien Notes” has the meaning set forth in the recitals. 

“Priority Lien Obligations” means the Priority Lien Debt and all other Obligations in connection therewith, including without
limitation any Post-Petition Interest whether or not allowable, together with all Swap Obligations and guarantees of any of the foregoing. 

  
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 “Priority Lien Representative” means: 

(a)    in the case of the Priority Lien Notes, the Priority Lien Trustee; and 

(i)    in the case of any other Series of Priority Lien Debt, the trustee, agent or representative of the holders of such
Series of Priority Lien Debt who maintains the transfer register for such Series of Priority Lien Debt and is appointed as a representative of the Priority Lien Debt (for purposes related to the administration of the Security Documents) pursuant to
the agreement governing such Series of Priority Lien Debt, and who has executed a Collateral Trust Joinder, together with any successor in such capacity. 

“Priority Lien Secured Parties” means, as of any date of determination, the holders of Priority Lien Obligations at that
time, including (i) each Priority Lien Representative and the Priority Lien Collateral Trustee, (ii) holders of the Priority Lien Notes and any other holders of Priority Lien Debt and (iii) counterparties to Swap Contracts in respect
of Swap Obligations. 
 “Priority Lien Security Documents” means all security agreements, pledge agreements,
collateral assignments, mortgages, deeds of trust, collateral agency agreements, control agreements or other grants or transfers for security executed and delivered by the Issuer or any Guarantor creating (or purporting to create) a Lien upon
Collateral in favor of the Priority Lien Collateral Trustee, for the benefit of any of the Priority Lien Secured Parties, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with
its terms and Section 7.02 hereof. 
 “Priority Lien Trustee” has the meaning set forth in the recitals. 

“Reaffirmation Agreement” means an agreement reaffirming the security interests granted to each Collateral Trustee in
substantially the form attached as Exhibit 1 to Exhibit A of this Agreement. 
 “Real Property” shall mean, collectively,
all right, title and interest (including any leasehold estate) in and to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all
improvements, fixtures, easements, hereditaments, permits and appurtenances relating thereto. 
 “Real Property Lease”
means any lease, letting, sublease, or other similar agreement to which any Person is a party and is granted a possessory interest in or a right to use or occupy all or any portion of Real Property (including, without limitation, the right to
extract minerals from any portion of Real Property) and every amendment or modification thereof. 
 “Recovery” has
the meaning set forth in Section 2.08(f) hereof. 
 “Reference Date” has the meaning set forth in
Section 3.08(e) hereof. 
 “Related Mining Assets” means (i) coal washing and processing facilities,
(ii) coal loading and shipping facilities, including without limitation, if owned, barges and railcars, (iii) computer and control systems utilized for operation or management of any of the foregoing and (iv) contracts with the Port
of Mobile, Alabama providing the right to use the McDuffie Coal Terminal for export of coal. 
 “Required Junior Lien
Debtholders” means, at any time, the holders of a majority in aggregate principal amount of all Junior Lien Debt then outstanding, calculated in accordance with the provisions of Section 7.02 hereof. For purposes of this
definition, Junior Lien Debt registered in the name 

  
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of, or beneficially owned by, the Issuer or any Affiliate of the Issuer (as certified in writing to the applicable Collateral Trustee by the applicable Secured Debt Representative) will be deemed
not to be outstanding and neither the Issuer nor any Affiliate of the Issuer will be entitled to vote any of the Junior Lien Debt. 

“S&P” means S&P Global Ratings or any successor to the rating agency business thereof. 

“Secured Debt” means Priority Lien Debt and Junior Lien Debt. 

“Secured Debt Default” means any event or condition that, under the terms of any credit agreement, indenture or other
agreement governing any Series of Secured Debt causes, or permits holders of Secured Debt outstanding thereunder (with or without the giving of notice or lapse of time, or both, and whether or not notice has been given or time has lapsed) to cause,
the Secured Debt outstanding thereunder to become immediately due and payable. 
 “Secured Debt Documents” means the
Priority Lien Documents and the Junior Lien Documents. 
 “Secured Debt Representative” means each Priority Lien
Representative and each Junior Lien Representative. 
 “Secured Obligations” means Priority Lien Obligations and
Junior Lien Obligations. 
 “Secured Parties” means the holders of Secured Obligations and the Secured Debt
Representatives and the Priority Lien Collateral Trustee and the Junior Lien Collateral Trustee, as applicable. 
 “Security
Documents” means this Agreement, the ABL Intercreditor Agreement, each Collateral Trust Joinder or joinder to the ABL Intercreditor Agreement, each ABL Security Document, each Priority Lien Security Document and each Junior Lien
Security Document, in each case, as amended, modified, renewed, restated or replaced, in whole or in part, from time to time, in accordance with its terms and Section 7.01 hereof. 

“Senior Trust Estate” has the meaning set forth in Section 2.01(b) hereof. 

“Series of Junior Lien Debt” means, severally, each issue or series of Junior Lien Debt for which a single transfer
register is maintained. For the avoidance of doubt, all reimbursement obligations in respect of letters of credit issued pursuant to a Junior Lien Document shall be part of the same Series of Junior Lien Debt as all other Junior Lien Debt incurred
pursuant to such Junior Lien Document. 
 “Series of Priority Lien Debt” means, severally, each series of the
Priority Lien Notes and each other issue or series of Priority Lien Debt for which a single transfer register is maintained. For the avoidance of doubt, all reimbursement obligations in respect of letters of credit issued pursuant to a Priority Lien
Document shall be part of the same Series of Priority Lien Debt as all other Priority Lien Debt incurred pursuant to such Priority Lien Document. 

“Series of Secured Debt” means each Series of Priority Lien Debt and each Series of Junior Lien Debt. 

  
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 “Short Fall” has the meaning set forth in Section 2.08(d) hereof.

 “Sponsors” means collectively, investment funds affiliated with, or accounts managed, advised or sub-advised by (i) Apollo Global Management, LLC and any of its Affiliates, (ii) KKR Credit Advisors (US) LLC and any of its Affiliates, (iii) Franklin Mutual Advisers, LLC and any of its Affiliates
and (iv) GSO Capital Partners LP and any of its Affiliates. 
 “Stated Maturity” means, with respect to any security,
the date specified in such security as the fixed date on which the final payment of principal of such security is due and payable. 

“Subsidiary” means, with respect to any Person, (1) any corporation, association or other business entity (other than a
partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2) any partnership, joint venture or limited
liability company of which (x) more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y) such Person or any Subsidiary of such Person is
a controlling general partner or otherwise controls such entity. 
 “Swap Contract” means (i) any interest rate
swap agreement, interest rate cap agreement, interest rate future agreement, interest rate collar agreement, interest rate hedging agreement or other similar agreement or arrangement designed to protect against or mitigate interest rate risk,
(ii) any foreign exchange contract, currency swap agreement, futures contract, option contract, synthetic cap or other similar agreement or arrangement designed to protect against or mitigate foreign exchange risk and (iii) any commodity
or raw material, including coal, futures contract, commodity hedge agreement, option agreement, any actual or synthetic forward sale contracts or other similar device or instrument or any other agreement designed to protect against or mitigate raw
material price risk (which shall for the avoidance of doubt include any forward purchase and sale of coal for which full or partial payment is required or received), in each case, that is secured under the Priority Lien Documents. 

“Swap Obligations” means all debts, liabilities and obligations of the Issuer or any of its Subsidiaries under any
Swap Contract. 
 “Trust Estates” has the meaning set forth in Section 2.02(b) hereof. 

“UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided, however, that in
the event that, by reason of mandatory provisions of law, any or all of the perfection or priority of, or remedies with respect to, any Collateral is governed by the Uniform Commercial Code as enacted and in effect in a jurisdiction other than the
State of New York, the term “UCC” shall mean the Uniform Commercial Code as enacted and in effect in such other jurisdiction solely for purposes of the provisions hereof relating to such perfection, priority or remedies. 

Section 1.02    Other Definition Provisions. 

(a)    The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar
import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule, Exhibit and Annex references, are to this Agreement unless otherwise specified. References to
any Schedule, Exhibit or Annex shall mean such Schedule, Exhibit or Annex as amended or supplemented from time to time in accordance with this Agreement. 

  
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 (b)    The meanings given to terms defined herein shall be equally applicable
to both the singular and plural forms of such terms. 
 (c)    The expressions “payment in full,” “paid
in full” and any other similar terms or phrases when used herein shall mean payment in cash in immediately available funds. 

(d)    The use herein of the word “include” or “including,” when following any general statement, term
or matter, shall not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters, whether or not non-limiting
language (such as “without limitation” or “but not limited to” or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that fall within the broadest possible
scope of such general statement, term or matter. 
 (e)    All references herein to provisions of the UCC shall include
all successor provisions under any subsequent version or amendment to any Article of the UCC. 
 (f)    All terms used
in this Agreement that are defined in Article 9 of the UCC and not otherwise defined herein have the meanings assigned to them in Article 9 of the UCC. 

(g)    Unless otherwise set forth herein, references to principal amount shall include, without duplication, any
reimbursement obligations with respect to a letter or credit and the face amount thereof (whether or not such amount is, at the time of determination, drawn or available to be drawn). 

This Agreement and the other Security Documents will be construed without regard to the identity of the party who drafted it and as though the
parties participated equally in drafting it. Consequently, each of the parties acknowledges and agrees that any rule of construction that a document is to be construed against the drafting party will not be applicable either to this Agreement or the
other Security Documents. 
 ARTICLE II 

THE TRUST ESTATES 

Section 2.01    Appointment of Priority Lien Collateral Trustee and Declaration of Senior Trust. 

(a)    The Priority Lien Trustee and, by accepting the benefits hereof, each of the other Priority Lien Secured Parties
hereby appoints Wilmington Trust, National Association as its collateral trustee for purposes of obtaining and perfecting a security interest in the Collateral for the benefit of the Priority Lien Secured Parties. Wilmington Trust, National
Association accepts such appointment by the Priority Lien Secured Parties as their collateral trustee (in such capacity, the “Priority Lien Collateral Trustee”). 

(b)    To secure the payment of the Priority Lien Obligations and in consideration of the premises and mutual agreements
set forth herein, each of the Grantors hereby confirms the grant to the Priority Lien Collateral Trustee, and the Priority Lien Collateral Trustee hereby accepts and agrees to hold, in trust under this Agreement for the benefit of all current and
future Priority Lien Secured Parties, all of such Grantor’s right, title and interest in, to and under all Collateral now or hereafter granted to the Priority 

  
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Lien Collateral Trustee under any Priority Lien Security Document for the benefit of the Priority Lien Secured Parties, together with all of the Priority Lien Collateral Trustee’s right,
title and interest in, to and under the Priority Lien Security Documents, and all interests, rights, powers and remedies of the Priority Lien Collateral Trustee thereunder or in respect thereof and all cash and
non-cash proceeds thereof (collectively, the “Senior Trust Estate”). 
 The
Priority Lien Collateral Trustee and its successors and assigns under this Agreement will hold the Senior Trust Estate in trust for the benefit solely and exclusively of all current and future Priority Lien Secured Parties as security for the
payment of all present and future Priority Lien Obligations. 
 Notwithstanding the foregoing, if at any time: 

(a)    all Liens securing the Priority Lien Obligations have been released as provided in Section 4.01 hereof; 

(c)    the Priority Lien Collateral Trustee holds no other property in trust as part of the Senior Trust Estate; 

(d)    no monetary obligation (other than indemnification and other contingent obligations for which no claim or demand
for payment, whether oral or written, has been made at such time) is outstanding and payable under this Agreement to the Priority Lien Collateral Trustee or any of its co-trustees or agents (whether in an
individual or representative capacity); and 
 (e)    the Issuer delivers to the Priority Lien Collateral Trustee an
Officer’s Certificate stating that all Priority Liens of the Priority Lien Collateral Trustee have been released in compliance with all applicable provisions of the Priority Lien Documents and that the Grantors are not required by any Priority
Lien Document to grant any Priority Lien upon any property, then the senior trust arising hereunder will terminate (subject to any reinstatement pursuant to Sections 2.08(f) or 7.22 hereof), except that all provisions set forth in Sections 7.11 and
7.12 hereof that are enforceable by the Priority Lien Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain enforceable in accordance with
their terms. 
 The parties further declare and covenant that the Senior Trust Estate will be held and distributed by the Priority Lien
Collateral Trustee subject to the further agreements herein. 
 Section 2.02    Appointment of Junior Lien
Collateral Trustee and Declaration of Junior Trust. 
 (a)    Each Junior Lien Representative from time to time
party hereto and, by accepting the benefits hereof, each of the other Junior Lien Secured Parties hereby appoints Wilmington Trust, National Association as its collateral trustee for purposes of obtaining and perfecting a security interest in the
Collateral for the benefit of the Junior Lien Secured Parties. [                    ] accepts such appointment by the Junior Lien Secured Parties as
their collateral trustee (in such capacity, the “Junior Lien Collateral Trustee”). 
 (b)    To secure
the payment of the Junior Lien Obligations and in consideration of the premises and mutual agreements set forth herein, each of the Grantors hereby confirms the grant to the Junior Lien Collateral Trustee, and the Junior Lien Collateral Trustee
hereby accepts and agrees to hold, in trust under this Agreement for the benefit of all current and future Junior Lien Secured Parties, all of such Grantor’s right, title and interest in, to and under all Collateral now or hereafter granted to
the Junior Lien Collateral Trustee under any Junior Lien Security Document for the benefit of the Junior Lien Secured Parties, together with all of the Junior Lien Collateral Trustee’s right, title and interest in, to and

  
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under the Junior Lien Security Documents, and all interests, rights, powers and remedies of the Junior Lien Collateral Trustee thereunder or in respect thereof and all cash and non-cash proceeds thereof (collectively, the “Junior Trust Estate,” and together with the Senior Trust Estate, the “Trust Estates”). 

The Junior Lien Collateral Trustee and its successors and assigns under this Agreement will hold the Junior Trust Estate in trust for the
benefit solely and exclusively of all current and future Junior Lien Secured Parties as security for the payment of all present and future Junior Lien Obligations. 

Notwithstanding the foregoing, if at any time: 

(a)    all Liens securing the Junior Lien Obligations have been released as provided in Section 4.01 hereof; 

(c)    the Junior Lien Collateral Trustee holds no other property in trust as part of the Junior Trust Estate; 

(d)    no monetary obligation (other than indemnification and other contingent obligations for which no claim or demand
for payment, whether oral or written, has been made at such time) is outstanding and payable under this Agreement to the Junior Lien Collateral Trustee or any of its co-trustees or agents (whether in an
individual or representative capacity); and 
 (e)    the Issuer delivers to the Junior Lien Collateral Trustee an
Officer’s Certificate stating that all Junior Liens of the Junior Lien Collateral Trustee have been released in compliance with all applicable provisions of the Junior Lien Documents and that the Grantors are not required by any Junior Lien
Document to grant any Junior Lien upon any property, 
 then the junior trust arising hereunder will terminate, except that all provisions set forth in
Sections 7.11 and 7.12 hereof that are enforceable by the Junior Lien Collateral Trustee or any of its co-trustees or agents (whether in an individual or representative capacity) will remain enforceable in
accordance with their terms. 
 The parties further declare and covenant that the Junior Trust Estate will be held and distributed by the
Junior Lien Collateral Trustee subject to the further agreements herein. 
 (f)    The appointment of the Junior Lien
Collateral Trustee and the creation of the Junior Trust Estate shall not be effective until the incurrence of Obligations with respect to any future Junior Lien Debt and any other Junior Lien Obligations. Such appointment and creation shall
automatically take effect upon the execution and delivery to the Priority Lien Collateral Trustee of a Collateral Trust Joinder in accordance with Section 3.08(b) hereof with respect to the first incurrence of Junior Lien Debt. 

Section 2.03    Priority of Liens between Classes. Notwithstanding anything
contained herein or in any other Security Document to the contrary, and notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing the Junior Lien Obligations granted on the Collateral or of any
Liens securing the Priority Lien Obligations granted on the Collateral and notwithstanding any provision of the UCC, the time of incurrence of any Series of Priority Lien Debt or Series of Junior Lien Debt or any other applicable law or the Junior
Lien Documents or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the Priority Lien Obligations, the subordination of such Liens to any other
Liens, or any other circumstance whatsoever, whether or not any Insolvency Proceeding has been commenced against the Issuer or any other Grantor, it is the intent of the parties that, and the parties

  
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hereto agree for themselves and the Junior Lien Secured Parties and Priority Lien Secured Parties represented by them that: 

(a)    this Agreement and the other Security Documents create two separate and distinct Trust Estates and Liens:
(i) the Senior Trust Estate and Priority Lien securing the payment and performance of the Priority Lien Obligations and (ii) the Junior Trust Estate and Junior Lien securing the payment and performance of the Junior Lien Obligations; 

(b)    any Liens on Collateral securing the Priority Lien Obligations now or hereafter held by the Priority Lien
Collateral Trustee for the benefit of the Priority Lien Secured Parties or held by any Priority Lien Secured Party, in each case, whether by grant, possession, statute, operation of law, subrogation or otherwise, are senior and prior to any Liens on
Collateral securing the Junior Lien Obligations; and 
 (c)    any Liens on Collateral securing the Junior Lien
Obligations now or hereafter held by the Junior Lien Collateral Trustee for the benefit of the Junior Lien Secured Parties or held by any Junior Lien Secured Party, in each case, whether by grant, possession, statute, operation of law, subrogation
or otherwise, are subject to the priority of and subordinate to any Liens on Collateral securing the Priority Lien Obligations. 
 For the
avoidance of doubt, in the event that any Junior Lien Secured Party becomes a judgment lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor in respect of any Junior Lien Obligations, such
judgment lien shall be subject to the terms of this Agreement for all purposes hereof (including the priority and subordination of Liens) and subordinated to the Priority Liens on the same basis as the Junior Liens are subordinated to the Priority
Liens. 
 Section 2.04    Restrictions on Enforcement of Junior Liens; Prohibition on Contesting
Liens. 
 (a)    Until the Discharge of Priority Lien Obligations, whether or not any Insolvency Proceeding has
been commenced by or against the Issuer or any other Grantor, the Priority Lien Secured Parties will have, subject to the exceptions set forth below in clauses (i) through (vi), and subject to the rights of the holders of Permitted Prior Liens,
including rights pursuant to the ABL Intercreditor Agreement and Section 13.07 of the Priority Lien Indenture, the exclusive right to authorize and direct the Priority Lien Collateral Trustee with respect to the Security Documents and the
Collateral including, without limitation, the exclusive right to authorize or direct the Priority Lien Collateral Trustee to enforce, collect or realize on any Collateral or exercise any other right or remedy with respect to the Collateral
(including, without limitation, the exercise of any right of setoff or any right under any lockbox agreement, account control agreement, landlord waiver or bailee’s letter or similar agreement or arrangement) and no Junior Lien Representative
or Junior Lien Secured Party may authorize or direct the Junior Lien Collateral Trustee with respect to such matters; provided, however, that the Required Junior Lien Debtholders (or any Junior Lien Representative representing such Required Junior
Lien Debtholders) may so direct the Junior Lien Collateral Trustee with respect to the enforcement of Junior Lien Security Documents and rights and remedies against the Collateral thereunder after the date (the “Junior Lien Enforcement
Date”) that is 180 days after the later of: (A) the date on which any Junior Lien Representative has declared the existence of any “Event of Default” under (and as defined in) any Junior Lien Document and demanded the
repayment of all the principal amount of all Junior Lien Obligations thereunder; and (B) the date on which the Priority Lien Collateral Trustee and each Priority Lien Representative has received written notice from such Junior Lien
Representative of such declarations of an Event of Default; provided, further, that notwithstanding anything herein to the contrary, the Junior Lien Enforcement Date shall be stayed and shall be deemed not to have occurred (I)

  
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at any time the Priority Lien Collateral Trustee has commenced and is diligently pursuing any enforcement action with respect to all or any material portion of the Collateral (with prompt written
notice of the commencement of such action to be given to the Junior Lien Representatives), (II) at any time the Grantor which has granted a security interest in such Collateral is then a debtor under or with respect to (or otherwise subject to) any
Insolvency Proceeding or (III) solely with respect to any ABL Priority Collateral at any time that the Priority Lien Collateral Trustee is stayed from taking any enforcement action pursuant to the terms of the ABL Intercreditor Agreement.
Notwithstanding the foregoing, subject to the rights of the ABL Collateral Agent under the ABL Intercreditor Agreement, the requisite Junior Lien Secured Parties may direct the Junior Lien Collateral Trustee or the Junior Lien Representative, as
applicable with respect to the Collateral (and, in the case of subclauses (iv) and (v) below, any Junior Lien Secured Party may): 

(i)    without any condition or restriction whatsoever, at any time after the Discharge of Priority Lien
Obligations; 
 (ii)    as necessary to redeem any Collateral in a creditor’s redemption permitted
by law or to deliver any notice or demand necessary to enforce any right to claim, take or receive proceeds of Collateral remaining after the Discharge of Priority Lien Obligations; 

(iii)    in order to perfect or establish the priority (subject to Priority Liens) of the Junior Liens upon
any Collateral, except that the Junior Lien Secured Parties may not require the Priority Lien Collateral Trustee to take any action to perfect any Collateral through possession or control other than the Priority Lien Collateral Trustee taking any
action for possession or control required by any Security Documents and the Priority Lien Collateral Trustee agreeing pursuant to Section 7.04 hereof that the Priority Lien Collateral Trustee as agent for the benefit of the Priority Lien
Secured Parties agrees to act as bailee and/or agent for and on behalf of the Junior Lien Collateral Trustee for the benefit of the Junior Lien Secured Parties as specified in Section 7.04 hereof; 

(iv)    file any responsive or defensive pleadings in opposition to any motion, claim, adversary proceeding
or other pleading made by any person objecting to or otherwise seeking the disallowance of the claims of the Junior Lien Secured Parties, including any claims secured by the Collateral, if any, or the avoidance of any Junior Lien, in each case to
the extent not inconsistent with the terms of this Agreement; 
 (v)    vote on any plan of
reorganization, arrangement, compromise or liquidation, file any proof of claim or statement of interest, make other filings and make any arguments and motions that are, in each case, in accordance with the terms of this Agreement, with respect to
the Junior Lien Obligations and the Collateral; provided that no filing of any claim or vote, or pleading related to such claim or vote, to accept or reject a disclosure statement, plan of reorganization, arrangement, compromise or liquidation, or
any other document, agreement or proposal similar to the foregoing by the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties) or any Junior Lien Representative may be inconsistent with the provisions of this Agreement,
unless the Priority Lien Secured Parties or the Priority Lien Representative, in each case, specified in clause (a) or (b) of the definition of “Act of Required Secured Parties” shall have consented thereto in writing or to the extent
any such plan or similar proposal is proposed or supported by the number of Priority Lien Secured Parties required under Section 1126(d) of the Bankruptcy Code; or 

(vi)    in any Insolvency Proceeding commenced by or against any Grantor, file a claim or statement of
interest with respect to the Junior Lien Obligations; provided that no such filing 

  
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may contain any statement regarding the priority of the Liens securing the Junior Lien Obligations relative to the priority of the Liens securing the Priority Lien Obligations that is
inconsistent with the provisions of this Agreement. 
 (b)    Until the Discharge of Priority Lien Obligations, whether
or not any Insolvency Proceeding has been commenced by or against the Issuer or any other Grantor, none of the Junior Lien Secured Parties, the Junior Lien Collateral Trustee (unless acting pursuant to an Act of Required Secured Parties) or any
Junior Lien Representative will: 
 (i)    request judicial relief, in an Insolvency Proceeding or in any
other court, or take any other action, that would hinder, delay, limit or prohibit the lawful exercise or enforcement of any right or remedy otherwise available to the Priority Lien Secured Parties in respect of the Priority Liens (subject to the
exceptions set forth in clauses (i) through (vi) of Section 2.04(a) hereof) or that would limit, invalidate, avoid or set aside any Priority Lien or subordinate the Priority Liens to the Junior Liens or grant the Junior Liens equal ranking
to the Priority Liens; 
 (ii)    oppose or otherwise contest any motion for relief from the automatic
stay or for any injunction against foreclosure or enforcement of Priority Liens made by any Priority Lien Secured Party or any Priority Lien Representative in any Insolvency Proceeding; 

(iii)    oppose or otherwise contest any lawful exercise by any Priority Lien Secured Party or any Priority
Lien Representative of the right to credit bid Priority Lien Debt at any sale of Collateral in foreclosure of Priority Liens; 

(iv)    oppose or otherwise contest any other request for judicial relief made in any court by any holder
of Priority Lien Obligations or any Priority Lien Representative relating to the lawful enforcement of any Priority Lien; 

(v)    contest, protest or object to any foreclosure proceeding or action brought by the Priority Lien
Collateral Trustee, any Priority Lien Representative or any Priority Lien Secured Party or any other exercise by the Priority Lien Collateral Trustee, any Priority Lien Representative or any Priority Lien Secured Party of any rights and remedies
relating to the Collateral under the Priority Lien Documents or otherwise and each Junior Lien Representative on behalf of itself and each Junior Lien Secured Party hereby waives any and all rights it may have to object to the time or manner in
which the Priority Lien Collateral Trustee or any Priority Lien Secured Party seeks to enforce the Priority Lien Obligations or the Priority Liens, in each case, subject to the exceptions set forth above in clauses (i) through (vi) of
Section 2.04(a) hereof; 
 (vi)    contest or support any other Person in contesting, in any
proceeding (including any Insolvency Proceeding) the validity, enforceability, perfection, priority or extent of the Priority Liens or the amount, nature or extent of the Priority Lien Obligations; or 

(vii)    object to the forbearance by the Priority Lien Collateral Trustee from bringing or pursuing any
foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral; provided, that notwithstanding the foregoing, the Required Junior Lien Debtholders (or any Junior Lien Representative representing such
Required Junior Lien Debtholders) may direct the Junior Lien Collateral Trustee with respect to the enforcement of Junior Lien Security Documents and rights and remedies against the Collateral on or after Junior Lien Enforcement Date to the extent
provided in Section 2.04 hereof. 

  
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 Except as specifically set forth in this Agreement, both before and during an Insolvency
Proceeding, the Junior Lien Secured Parties and the Junior Lien Representatives may take any actions and exercise any and all rights that would be available to a holder of unsecured claims that are not in violation of any express provision of this
Agreement. 
 (c)    At any time prior to the Discharge of Priority Lien Obligations and after (i) the commencement
of any Insolvency Proceeding in respect of the Issuer or any other Grantor or (ii) the Junior Lien Collateral Trustee and each Junior Lien Representative have received written notice from any Priority Lien Representative at the direction of an
Act of Required Secured Parties stating that (A) any Series of Priority Lien Debt has become due and payable in full (whether at maturity, upon acceleration or otherwise) or (B) the holders of Priority Liens securing one or more Series of
Priority Lien Debt have become entitled under any Priority Lien Documents to and desire to enforce any or all of the Priority Liens by reason of a default under such Priority Lien Documents, no payment of money (or the equivalent of money) shall be
made from the proceeds of Collateral by the Issuer or any other Grantor to the Junior Lien Collateral Trustee or any Junior Lien Secured Party (including, without limitation, payments and prepayments made from such proceeds for application to Junior
Lien Obligations and all other payments and deposits made from such proceeds pursuant to any Junior Lien Document). 

(d)    All proceeds of Collateral received by the Junior Lien Collateral Trustee, any Junior Lien Representative or any
Junior Lien Secured Party in violation of Section 2.04(b) or 2.04(c) hereof and all proceeds of Collateral received by the Junior Lien Collateral Trustee, any Junior Lien Representative or any Junior Lien Secured Party in connection with any
exercise of remedies against the Collateral will be segregated and held by the Junior Lien Collateral Trustee, the applicable Junior Lien Representative or the applicable Junior Lien Secured Party in trust for the account of the Priority Lien
Secured Parties and remitted to the Priority Lien Collateral Trustee in the form received for application in accordance with Section 3.04 hereof. The Junior Liens will remain attached to and enforceable against all proceeds so held or remitted
until applied to satisfy the Priority Lien Obligations. All proceeds of Collateral received by the Junior Lien Collateral Trustee, any Junior Lien Secured Party and any Junior Lien Representative not in violation of Section 2.04(b) or 2.04(c)
hereof and not required to be remitted (pursuant to the first sentence of this paragraph or otherwise under this Agreement) to the Priority Lien Collateral Trustee will be received by the Junior Lien Collateral Trustee, the Junior Lien Secured
Parties and the Junior Lien Representatives free from the Priority Liens and all other Liens except the Junior Liens and the Junior ABL Liens. 

Section 2.05    Waiver of Right of Marshaling. 

(a)    Prior to the Discharge of Priority Lien Obligations, the Junior Lien Secured Parties, each Junior Lien
Representative and the Junior Lien Collateral Trustee may not assert or enforce any marshaling, appraisal, valuation or other similar right accorded to a junior lienholder under applicable law, as against the Priority Lien Secured Parties or the
Priority Lien Representatives (in their capacity as priority lienholders). 
 (b)    Following the Discharge of Priority
Lien Obligations, the Junior Lien Secured Parties and any Junior Lien Representative may assert their right under the UCC or otherwise to any proceeds remaining following a sale or other disposition of Collateral by, or on behalf of, the Priority
Lien Secured Parties. 
 Section 2.06    Discretion in Enforcement of Priority
Liens. Subject to the ABL Intercreditor Agreement, in exercising rights and remedies with respect to the Collateral, at any time prior to a Discharge of Priority Lien Obligations, the Priority Lien Secured Parties and the Priority Lien
Representatives shall have the exclusive right to enforce (or refrain from enforcing or to direct the Priority 

  
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Lien Collateral Trustee to enforce or refrain from enforcing) the provisions of the Priority Lien Documents and exercise (or refrain from exercising) remedies thereunder or any such rights and
remedies, all in such order and in such manner as they may determine in the exercise of their sole and exclusive discretion, including: 

(a)    the exercise or forbearance from exercise of all rights and remedies in respect of the Collateral and/or the
Priority Lien Obligations; 
 (b)    the enforcement or forbearance from enforcement of any Priority Lien in respect of
the Collateral; 
 (c)    the exercise or forbearance from exercise of rights and powers of a holder of shares of stock
included in the Senior Trust Estate to the extent provided in the Priority Lien Security Documents; 
 (d)    the
acceptance of the Collateral in full or partial satisfaction of the Priority Lien Obligations; and 
 (e)    the
exercise or forbearance from exercise of all rights and remedies of a secured lender under the UCC or any similar law of any applicable jurisdiction or in equity. 

Section 2.07    Amendments to Priority Lien Documents and Discretion in Enforcement of Priority Lien
Obligations; Amendments to Junior Lien Documents. 
 (a)    Without in any way limiting the generality of
Section 2.06 hereof, the Priority Lien Secured Parties and the Priority Lien Representatives may, at any time and from time to time, without the consent of or notice to the Junior Lien Secured Parties or the Junior Lien Representatives, without
incurring responsibility to the Junior Lien Secured Parties and the Junior Lien Representatives and without impairing or releasing the subordination provided in this Agreement or the obligations hereunder of the Junior Lien Secured Parties and the
Junior Lien Representatives, do any one or more of the following: 
 (i)    change the manner, place or
terms of payment or extend the time of payment of, or renew or alter, the Priority Lien Obligations, or otherwise amend or supplement in any manner the Priority Lien Obligations, or any instrument evidencing the Priority Lien Obligations or any
agreement under which the Priority Lien Obligations are outstanding including, without limitation, increasing the principal amount thereof and/or the applicable margin or similar component of interest rate; 

(ii)    release any Person or entity liable in any manner for the collection of the Priority Lien
Obligations; 
 (iii)    release the Priority Lien on any Collateral; and 

(iv)    exercise or refrain from exercising any rights against any Grantor. 

(b)    Without the prior written consent of the Priority Lien Representatives or unless permitted under the Priority Lien
Documents, unless and until the Discharge of Priority Lien Obligations has occurred, no Junior Lien Document may be amended, restated, supplemented or otherwise modified and no Junior Lien Debt may be refinanced, to the extent such amendment,
restatement, supplement, modification or refinancing, or the terms of such new Junior Lien Documents, would: 

(i)    contravene the provisions of this Agreement; 

  
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 (ii)    accelerate any date upon which a scheduled payment of
principal or interest is due, or otherwise decrease the weighted average life to maturity; 

(iii)    modify (or undertake any action having the effect of a modification of) the mandatory prepayment
provisions of the Junior Lien Document for that Series in a manner adverse to the Priority Lien Secured Parties; or 

(iv)    reduce the capacity to incur the Priority Lien Debt to an amount less than the sum of (x) the
aggregate principal amount of Priority Lien Debt under the Priority Lien Documents on the day of any such amendment, restatement, supplement, modification or refinancing plus (y) the difference between the amount of Priority Lien Debt capacity
permitted as of the Issue Date and the aggregate principal amount of Priority Lien Debt outstanding under the Priority Lien Documents on the Issue Date. 

Section 2.08    Insolvency Proceedings. 

(a)    If in any Insolvency Proceeding and prior to the Discharge of Priority Lien Obligations, the Priority Lien Secured
Parties by an Act of Required Secured Parties shall desire to permit the use of Cash Collateral, or to permit the Issuer or any other Grantor to obtain financing, whether from the Priority Lien Secured Parties or any other Person under
Section 364 of the Bankruptcy Code or any similar Bankruptcy Law (“DIP Financing”) then each of the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien Representative for
itself and on behalf of the other Junior Lien Secured Parties represented by it, agrees that it will raise no objection to such Cash Collateral use or DIP Financing including any proposed orders for such Cash Collateral use and/or DIP Financing
which are acceptable to the Priority Lien Secured Parties) and to the extent the Liens securing the Priority Lien Obligations are subordinated to or pari passu with such DIP Financing, the Junior Lien Collateral Trustee will subordinate its Junior
Liens in the Collateral to the Liens securing such DIP Financing (and all Obligations relating thereto) and will not request adequate protection or any other relief in connection therewith (except, as expressly agreed by the Priority Lien Secured
Parties or to the extent permitted by Section 2.08(d) below); provided that the Junior Lien Secured Parties retain the right to object to any ancillary agreements or arrangements regarding Cash Collateral use or the DIP Financing that are
materially prejudicial to their interests. No Junior Lien Secured Party may provide DIP Financing to the Issuer or other Grantor secured by Liens equal or senior in priority to the Liens securing any Priority Lien Obligations, provided that if no
Priority Lien Secured Party offers to provide DIP Financing to the extent permitted under this Section 2.08(a) on or before the date of the hearing to approve DIP Financing, then a Junior Lien Secured Party may seek to provide such DIP
Financing secured by Liens equal or senior in priority to the Liens securing any Priority Lien Obligations, and the Priority Lien Secured Parties may object thereto; provided, further, that such DIP Financing may not
“roll-up” or otherwise include or refinance any pre-petition Junior Lien Obligations. Each of the Junior Lien Collateral Trustee (on behalf of the Junior Lien
Secured Parties) and each Junior Lien Representative on behalf itself and the Junior Lien Secured Parties represented by it agree that each of them will raise no objection to or oppose a motion to sell, liquidate or otherwise dispose of Collateral
under Section 363 of the Bankruptcy Code if the requisite Priority Lien Secured Parties have consented to such sale, liquidation or other disposition; provided that, to the extent such sale, liquidation or other disposition is to be free
and clear of Liens, the Liens securing the Priority Lien Obligations and the Junior Lien Obligations will attach to the proceeds of the sale, liquidation or other disposition on the same basis of priority as the Liens on the Collateral securing the
Priority Lien Obligations rank to the Liens on the Collateral securing the Junior Lien Obligations pursuant to this Agreement. Each of the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien
Representative on behalf of itself and the Junior Lien 

  
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Secured Parties represented by it further agrees that it will not directly or indirectly oppose or impede entry of any order in connection with such sale, liquidation or other disposition,
including orders to retain professionals or set bid procedures in connection with such sale, liquidation or disposition if the requisite Priority Lien Secured Parties have consented to such (i) retention of professionals and bid procedures in
connection with such sale, liquidation or disposition of such assets and (ii) the sale, liquidation or disposition of such assets, in which event the Junior Lien Secured Parties will be deemed to have consented to the sale or disposition of
Collateral pursuant to Section 363(f) of the Bankruptcy Code and such motion does not impair the rights of the Junior Lien Secured Parties under Section 363(k) of the Bankruptcy Code. 

(b)    Until the Discharge of Priority Lien Obligations has occurred, the Junior Lien Collateral Trustee (on behalf of the
Junior Lien Secured Parties) and each Junior Lien Representative (for itself and on behalf of the other Junior Lien Secured Parties represented by it) agrees that none of them shall: (i) seek (or support any other Person seeking) relief from
the automatic stay or any other stay in any Insolvency Proceeding in respect of the Collateral without the prior written consent of the Priority Lien Secured Parties or the Priority Lien Representative, in each case, specified in clause (a) or
(b) of the definition of “Act of Required Secured Parties”, unless a motion for adequate protection permitted under Section 2.08(d) below has been denied by a bankruptcy court or (ii) oppose (or support any other Person in
opposing) any request by the Priority Lien Secured Parties for relief from such stay. 
 (c)    If, in any Insolvency
Proceeding, debt obligations of the reorganized debtor secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization or similar dispositive restructuring plan, both on account of Priority Lien
Obligations and on account of Junior Lien Obligations, then, to the extent the debt obligations distributed on account of the Priority Lien Obligations and on account of the Junior Lien Obligations are secured by Liens upon the same property, the
provisions of this Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

(d)    The Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien
Representative (for itself and on behalf of the other Junior Lien Secured Parties represented by it) agrees that none of them shall contest (or support any other Person contesting): (1) any request by the Priority Lien Representatives or the
Priority Lien Secured Parties for adequate protection under any Bankruptcy Law; or (2) any objection by the Priority Lien Representatives or the Priority Lien Secured Parties to any motion, relief, action or proceeding based on the Priority
Lien Secured Parties claiming a lack of adequate protection. Notwithstanding the foregoing provisions in this Section 2.08(d), in any Insolvency Proceeding: (1) if the Priority Lien Secured Parties (or any subset thereof) are granted
adequate protection in the form of additional collateral or superpriority claims in connection with any Cash Collateral use or DIP Financing, then the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties) or Junior Lien
Representative (on behalf of itself or any of the other Junior Lien Secured Parties represented by it) may seek or request adequate protection in the form of a Lien on such additional collateral or superpriority claim, (A) which Lien will be
subordinated to the Liens securing the Priority Lien Obligations and such Cash Collateral use or DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Junior Lien Obligations are so subordinated to
the Priority Lien Obligations under this Agreement and (B) which superpriority claim will be subordinated to all superpriority claims of the Priority Lien Secured Parties on the same basis as the other claims of the Junior Lien Secured Parties
are so subordinated to the claims of the Priority Lien Secured Parties under the Collateral Trust Agreement; and (2) each of the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representatives and
the Junior Lien Secured Parties shall only be permitted to seek adequate protection with respect to their rights in the Collateral in any Insolvency Proceeding in the form of (A) additional collateral; provided that as adequate protection for
the Priority Lien Obligations, the Priority Lien Collateral Trustee, on behalf of the Priority Lien 

  
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Secured Parties, is also granted a senior Lien on such additional collateral; (B) replacement Liens on the Collateral; provided that as adequate protection for the Priority Lien Obligations,
the Priority Lien Collateral Trustee, on behalf of the Priority Lien Secured Parties, is also granted senior replacement Liens on the Collateral; and (C) an administrative expense claim; provided that as adequate protection for the Priority
Lien Obligations, the Priority Lien Collateral Trustee, on behalf of the Priority Lien Secured Parties, is also granted an administrative expense claim which is senior and prior to the administrative expense claim of the Junior Lien Collateral
Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien Representative on behalf of the Junior Lien Secured Parties represented by it. If any Junior Lien Secured Party receives Post-Petition Interest and/or adequate protection
payments in an Insolvency Proceeding (“Junior Lien Adequate Protection Payments”), and the Priority Lien Secured Parties do not receive payment in full in cash of all Priority Lien Obligations upon the effectiveness of the
plan of reorganization for, or conclusion of, that Insolvency Proceeding, then, each Junior Lien Secured Party shall pay over to the Priority Lien Secured Party an amount (the “Pay-Over
Amount”) equal to the lesser of (i) the Junior Lien Adequate Protection Payments received by such Junior Lien Secured Parties and (ii) the amount of the short-fall (the “Short Fall”) in payment in
full of the Priority Lien Obligations; provided that to the extent any portion of the Short Fall represents payments received by the Priority Lien Secured Parties in the form of promissory notes, equity or other property, equal in value to the cash
paid in respect of the Pay-Over Amount, the Priority Lien Secured Parties shall, upon receipt of the Pay-Over Amount, transfer those promissory notes, equity or other
property, pro rata, equal in value to the cash paid in respect of the Pay-Over Amount to the applicable Junior Lien Secured Parties in exchange for the Pay-Over Amount.
Notwithstanding anything herein to the contrary, the Priority Lien Secured Parties shall not be deemed to have consented to, and expressly retain their rights to object to the grant of adequate protection in the form of cash payments to the Junior
Lien Secured Parties made pursuant to this Section 2.08(d). 
 (e)    Nothing contained herein shall prohibit or in
any way limit any Priority Lien Representative or any Priority Lien Secured Party from objecting in any Insolvency Proceeding or otherwise to any action taken by the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties), the
Junior Lien Representative or any of the other Junior Lien Secured Parties, including the seeking by the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representative or any of the other Junior Lien
Secured Parties of adequate protection or the asserting by the Junior Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties), the Junior Lien Representative or any of the other Junior Lien Secured Parties of any of its rights and
remedies under the Junior Lien Documents or otherwise. 
 (f)    If any Priority Lien Secured Party is required in any
Insolvency Proceeding or otherwise to turn over or otherwise pay to the estate of the Issuer or any other Grantor any amount paid in respect of Priority Lien Obligations (a “Recovery”), then such Priority Lien Secured Party
shall be entitled to a reinstatement of Priority Lien Obligations with respect to all such recovered amounts on the date of such Recovery, and from and after the date of such reinstatement the Discharge of Priority Lien Obligations shall be deemed
not to have occurred for all purposes hereunder. If this Agreement shall have been terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge,
impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 
 (g)    The Junior
Lien Collateral Trustee (on behalf of the Junior Lien Secured Parties) and each Junior Lien Representative, for itself and on behalf of the Junior Lien Secured Parties, and the Priority Lien Collateral Trustee (on behalf of the Priority Lien Secured
Parties) and each Priority Lien Representative for itself and on behalf of the Priority Lien Secured Parties for whom it acts as representative, acknowledges and agrees that: 

(i)    the grants of Liens pursuant to the Priority Lien Security Documents and the Junior Lien Security Documents
constitute two separate and distinct grants of Liens; and 

  
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 (ii)    because of, among other things, their differing rights in the
Collateral, the Junior Lien Obligations are fundamentally different from the Priority Lien Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding. 

If it is held that the claims of the Priority Lien Secured Parties and the Junior Lien Secured Parties in respect of the Collateral constitute
only one secured claim (rather than separate classes of senior and junior secured claims), then each of the parties hereto hereby acknowledges and agrees that all distributions shall be made as if there were separate classes of senior and junior
secured claims against the Grantors in respect of the Collateral (with the effect being that, to the extent that the aggregate value of the Collateral is sufficient (for this purpose ignoring all claims held by the Junior Lien Secured Parties), the
Priority Lien Secured Parties shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing (or that would be owing
if there were such separate classes of senior and junior secured claims) in respect of Post-Petition Interest, including any additional interest payable pursuant to the Priority Lien Documents, arising from or related to a default, which is
disallowed as a claim in any Insolvency Proceeding) before any distribution is made in respect of the claims held by the Junior Lien Secured Parties with respect to the Collateral, and the Junior Lien Collateral Trustee (on behalf of the Junior Lien
Secured Parties) or each Junior Lien Representative, as applicable, for itself and on behalf of the Junior Lien Secured Parties for whom it acts as representative, will turn over to the Priority Lien Collateral Trustee for application in accordance
with this Agreement, Collateral or proceeds of Collateral otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the
Junior Lien Secured Parties). 
 Notwithstanding any other provision hereof to the contrary, each Junior Lien Representative and the Junior
Lien Collateral Trustee, for itself and on behalf of each other Junior Lien Secured Party represented by it, agrees that (A) without the consent of the Priority Lien Claimholders, none of such Junior Lien Representative or the Junior Lien
Collateral Trustee, the Junior Lien Secured Party represented by it or any agent or trustee on behalf of any of them shall, during any Insolvency Proceeding or otherwise, support, endorse, propose or submit, whether directly or indirectly, any plan
of reorganization that provides for the impairment of repayment of the Priority Lien Obligations (with impairment to be determined under Section 1124 of the Bankruptcy Code) (i) unless the Priority Lien Secured Parties or the Priority Lien
Representative, in each case, specified in clause (a) or (b) of the definition of “Act of Required Secured Parties” shall have consented to such plan in writing or (ii) to the extent any such plan is proposed or supported by the
number of Priority Lien Secured Parties required under Section 1126(d) of the Bankruptcy Code. 
 (h)    The
parties to this Agreement acknowledge that this Agreement is a “subordination agreement” under Section 510(a) of the Bankruptcy Code, which will be effective before, during and after the commencement of an Insolvency Proceeding. All
references in this Agreement to any Grantor will include such Person as a debtor-in-possession and any receiver or trustee for such Person in an Insolvency Proceeding.

 Section 2.09    Collateral Shared Equally and Ratably within Class. The
parties to this Agreement agree that the payment and satisfaction of all of the Secured Obligations within each Class will be secured equally and ratably by the Liens established in favor of the Priority Lien Collateral Trustee and the Junior
Lien Collateral Trustee for the benefit of the Secured Parties belonging to such Class, notwithstanding the time of incurrence of any Secured Obligations within such Class or the date, time, method or order of grant, attachment or perfection of
any Liens securing such Secured Obligations 

  
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within such Class and notwithstanding any provision of the UCC, the time of incurrence of any Series of Priority Lien Debt or Series of Junior Lien Debt or the time of incurrence of any
other Priority Lien Obligation or Junior Lien Obligation, or any other applicable law or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens securing the
Priority Lien Obligations or the Junior Lien Obligations the subordination of such Liens to any other Liens, or any other circumstance whatsoever, whether or not any Insolvency Proceeding has been commenced against the Issuer or any other Grantor,
it is the intent of the parties that, and the parties hereto agree for themselves and the respective Junior Lien Secured Parties or Priority Lien Secured Parties represented by them that: 

(a)    all Junior Lien Obligations will be and are secured equally and ratably by all Junior Liens at any time granted by
the Issuer or any other Grantor to secure any Obligations in respect of any Series of Junior Lien Debt, whether or not upon property otherwise constituting collateral for such Series of Junior Lien Debt, and that all such Junior Liens will be
enforceable by the Junior Lien Collateral Trustee for the benefit of all Junior Lien Secured Parties equally and ratably; provided, however, that notwithstanding the foregoing, this provision will not be violated with respect to any particular
Collateral and any particular Series of Junior Lien Debt if the Secured Debt Documents in respect thereof prohibit the applicable Junior Lien Representative from accepting the benefit of a Lien on any particular asset or property or such Junior Lien
Representative otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property; and 

(b)    all Priority Lien Obligations will be and are secured equally and ratably by all Priority Liens at any time granted
by the Issuer or any other Grantor to secure any Obligations in respect of any Series of Priority Lien Debt (and any Swap Obligations related to such Series of Priority Lien Debt), whether or not upon property otherwise constituting collateral for
such Series of Priority Lien Debt (and any Swap Obligations related to such Series of Priority Lien Debt), and that all such Priority Liens will be enforceable by the Priority Lien Collateral Trustee for the benefit of all Priority Lien Secured
Parties equally and ratably; provided, however, that notwithstanding the foregoing, (x) this provision will not be violated with respect to any particular Collateral and any particular Series of Priority Lien Debt if the Secured Debt Documents
in respect thereof prohibit the applicable Priority Lien Representative from accepting the benefit of a Lien on any particular asset or property or such Priority Lien Representative otherwise expressly declines in writing to accept the benefit of a
Lien on such asset or property and (y) this provision will not be violated with respect to any particular Swap Obligations if the related Swap Contract prohibits the applicable Hedge Provider from accepting the benefit of a Lien on any
particular asset or property or such Hedge Provider otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property; 

It is understood and agreed that nothing in this Section 2.09 is intended to alter the priorities of the Liens of the Priority Lien
Collateral Trustee and the Junior Lien Collateral Trustee or among Secured Parties belonging to different Classes as provided in Section 2.03 hereof. 

Section 2.10    No New Liens. So long as the Discharge of Priority Lien
Obligations has not occurred, whether or not any Insolvency Proceeding has been commenced by or against the Issuer or any or any other Grantor, the parties hereto agree that the Issuer will not, and will not permit any other Grantor to grant or
permit any additional Liens on any asset or property to secure any Junior Lien Obligation unless it has granted or concurrently grants a Lien on such asset or property to secure all of the Priority Lien Obligations, the parties hereto agreeing that
any such Lien shall be subject to Section 2.03 hereof. 
 To the extent that the foregoing provisions are not complied with for any
reason, without limiting any other rights and remedies available to the Priority Lien Secured Parties, the Junior Lien Collateral 

  
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Trustee, on behalf of the Junior Lien Secured Parties, agrees that any amounts received by or distributed to it pursuant to or as a result of Liens granted in contravention of this
Section 2.10 shall be subject to Section 3.04 hereof. 

Section 2.11    Confirmation of Subordination in Junior Lien Security Documents.
The Issuer agrees that each Junior Lien Security Document shall include the following language (or language to similar effect approved by the Priority Lien Trustee): 

“Notwithstanding anything herein to the contrary, the lien and security interest granted to the Junior Lien Collateral Trustee for the
benefit of the Junior Lien Secured Parties pursuant to this Agreement and the exercise of any right or remedy by the Junior Lien Collateral Trustee for the benefit of the Junior Lien Secured Parties hereunder are subject to the provisions of the
Collateral Trust Agreement, dated as of [DATE] (as amended, restated, supplemented or otherwise modified from time to time, the “Collateral Trust Agreement”), among Wilmington Trust, National Association, as Priority Lien
Trustee, [                    ], as
[                    ], Wilmington Trust, National Association, as Priority Lien Collateral Trustee,
[                    ], as Junior Lien Collateral Trustee, and certain other persons party or that may become party thereto from time to time. In the
event of any conflict between the terms of the Collateral Trust Agreement and this Agreement, the terms of the Collateral Trust Agreement shall govern and control.” 

In addition, the Issuer agrees that each mortgage securing any Junior Lien on such property contain such other language as the Controlling
Representative may reasonably request to reflect the subordination of such mortgage to the mortgage securing any Priority Lien on such property. 

ARTICLE III 
 OBLIGATIONS
AND POWERS OF COLLATERAL TRUSTEES 
 Section 3.01    Appointment and Undertaking of each Collateral
Trustee. 
 (a)    Each Hedge Provider and each other Secured Party acting through its respective Secured Debt
Representative and/or by its acceptance of the benefits of the Security Documents hereby appoints each Collateral Trustee to serve as its collateral trustee hereunder on the terms and conditions set forth herein. Subject to, and in accordance with,
this Agreement, each Collateral Trustee will, as collateral trustee, for the benefit solely and exclusively of itself and the present and future Secured Parties for which it acts as Collateral Trustee hereunder, in accordance with the terms of this
Agreement: 
 (i)    accept, enter into, hold, maintain, administer and, if directed by an Act of
Required Secured Parties, enforce all Security Documents, including all Collateral subject thereto, and all Liens created thereunder, perform its obligations hereunder and under the Security Documents and protect, exercise and enforce the interests,
rights, powers and remedies granted or available to it under, pursuant to or in connection with the Security Documents; 

(ii)    unless it has received a contrary Act of Required Secured Parties, be entitled but not obligated to
take all lawful and commercially reasonable actions permitted under the Security Documents that it may deem necessary or advisable to protect or preserve its interest in the Collateral subject thereto and such interests, rights, powers and remedies;

  
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 (iii)    deliver and receive notices pursuant to this
Agreement and the Security Documents; 
 (iv)    if directed by an Act of Required Secured Parties, sell,
assign, collect, assemble, foreclose on, institute legal proceedings with respect to, or otherwise exercise or enforce the rights and remedies of a secured party (including a mortgagee, trust deed beneficiary and insurance beneficiary or loss payee)
with respect to the Collateral under the Security Documents and its other interests, rights, powers and remedies; 

(v)    remit as provided in Section 3.04 hereof all cash proceeds received by the applicable
Collateral Trustee from the collection, foreclosure or enforcement of its interest in the Collateral under the Security Documents or any of its other interests, rights, powers or remedies; 

(vi)    execute and deliver (i) amendments and supplements to the Security Documents as from time to
time authorized pursuant to Section 7.01 hereof accompanied by an Officer’s Certificate to the effect that the amendment or supplement was permitted under Section 7.01 hereof and (ii) acknowledgements of Collateral Trust Joinders
delivered pursuant to Section 3.08 or 7.21 hereof; 
 (vii)    release any Lien granted to it by any
Security Document upon any Collateral if and as required by Section 3.02 or Article 4 hereof; and 

(viii)    enter into and perform its obligations and, if directed by an Act of Required Secured Parties,
protect, exercise and enforce its interest, rights, powers and remedies under the ABL Intercreditor Agreement. 

(b)    Each party to this Agreement acknowledges and consents to the undertaking of each Collateral Trustee set forth in
Section 3.01(a) above and agrees to each of the other provisions of this Agreement applicable to each Collateral Trustee. 

(c)    Notwithstanding anything to the contrary contained in this Agreement, no Collateral Trustee will commence any
exercise of remedies or any foreclosure actions or otherwise take any action or proceeding against any of the Collateral unless and until it shall have been directed in writing by an Act of Required Secured Parties and then only in accordance with
the provisions of this Agreement; provided that, notwithstanding the foregoing, the Required Junior Lien Debtholders (or any Junior Lien Representative representing such Required Junior Lien Debtholders) may direct the Junior Lien Collateral Trustee
with respect to the enforcement of Junior Lien Security Documents and rights and remedies against the Collateral after on or after the Junior Lien Enforcement Date to the extent provided in Section 2.04 hereof. 

(d)    The applicable Collateral Trustee may act or decline to act in connection with any enforcement of Liens as provided
in Section 3.03 hereof. 
 (e)    Notwithstanding anything to the contrary contained in this Agreement, no Junior
Lien Representative may serve as Priority Lien Collateral Trustee. In addition, notwithstanding anything to the contrary contained in this Agreement, neither the Issuer nor any of its Affiliates may serve as Priority Lien Collateral Trustee or
Junior Lien Collateral Trustee. 

  
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 Section 3.02    Release or Subordination of
Liens. No Collateral Trustee will release or subordinate any Lien of such Collateral Trustee or consent to the release or subordination of any Lien of such Collateral Trustee, except: 

(a)    solely with respect to subordination, as directed by an Act of Required Secured Parties accompanied by an
Officer’s Certificate to the effect that the subordination was permitted by each applicable Secured Debt Document; 

(b)    as required by Article 4 hereof; 

(c)    as ordered pursuant to applicable law under a final and nonappealable order or judgment of a court of competent
jurisdiction; 
 (d)    for the subordination of the Junior Trust Estate and the Junior Liens to the Senior Trust Estate
and the Priority Liens; or 
 (e)    for the subordination of the Priority Liens and the Junior Liens on the ABL
Priority Collateral to the ABL Liens securing the ABL Lien Obligations to the extent required by any ABL Intercreditor Agreement. 

Section 3.03    Enforcement of Liens. If a Secured Debt Representative delivers at
any time to the applicable Collateral Trustee written notice that any event has occurred that constitutes a default under any Secured Debt Document entitling such Collateral Trustee to foreclose upon, collect or otherwise enforce its Liens under the
applicable Security Documents, such Secured Debt Representative will promptly deliver written notice thereof to each other Secured Debt Representative. Thereafter, such Collateral Trustee may await direction by an Act of Required Secured Parties and
will act, or decline to act, as directed by an Act of Required Secured Parties, in the exercise and enforcement of such Collateral Trustee’s interests, rights, powers and remedies in respect of the Collateral or under the Security Documents or
applicable law and, following the initiation of such exercise of remedies, such Collateral Trustee will act, or decline to act, with respect to the manner of such exercise of remedies as directed by an Act of Required Secured Parties, subject to the
terms of this Agreement and the ABL Intercreditor Agreement; provided, however, that from and after the Junior Lien Enforcement Date, the Junior Lien Collateral Trustee shall exercise or decline to exercise enforcement rights, powers and remedies as
directed by the Required Junior Lien Debtholders as provided in Section 2.04 hereof unless the Priority Lien Secured Parties shall have caused the Priority Lien Collateral Trustee to commence and diligently pursue the exercise of rights and
remedies with respect to all or any material portion of the Collateral (with prompt written notice of the commencement of such action to be given to the Junior Lien Representatives). Unless it has been directed to the contrary by an Act of Required
Secured Parties (or, from and after the Junior Lien Enforcement Date, as directed by the Required Junior Lien Debtholders, subject to Section 2.04 hereof or as otherwise expressly provided in this Agreement), the applicable Collateral Trustee
in any event may (but will not be obligated to) take or refrain from taking such action with respect to any default under any Secured Debt Document as it may deem advisable and in the best interest of the Secured Parties. 

Section 3.04    Application of Proceeds. 

(a)    If any Collateral is sold or otherwise realized upon by the applicable Collateral Trustee in connection with any
collection, sale, foreclosure or other enforcement of Liens granted to such Collateral Trustee in the Security Documents, the proceeds received by such Collateral Trustee or any Priority Lien Secured Party or Junior Lien Secured Party from such
collection, sale, foreclosure or other enforcement and the proceeds received by such Collateral Trustee or any Priority Lien Secured Party or Junior Lien Secured Party of any insurance policies maintained by any Grantor relating to any loss or

  
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other insurable event with respect to any Collateral will be distributed by such Collateral Trustee, subject to the terms of the ABL Intercreditor Agreement, in the following order of
application: 
 FIRST, to the payment of all amounts payable under this Agreement on account of (x) the Priority Lien Collateral
Trustee’s fees and any costs, expenses (including reasonable legal fees) or other liabilities of any kind incurred by the Priority Lien Collateral Trustee or any co-trustee or agent of the Priority Lien
Collateral Trustee in connection with any Security Document (including, but not limited to, indemnification obligations that are then due and payable to the Priority Lien Collateral Trustee or any co-trustee
or agent of the Priority Lien Collateral Trustee), and then (y) the Junior Lien Collateral Trustee’s fees and any costs, expenses (including reasonable legal fees) or other liabilities of any kind incurred by the Junior Lien Collateral
Trustee or any co-trustee or agent of the Junior Lien Collateral Trustee in connection with any Security Document (including, but not limited to, indemnification obligations that are then due and payable to
the Junior Lien Collateral Trustee or any co-trustee or agent of the Junior Lien Collateral Trustee); 

SECOND, to the respective Priority Lien Representatives and Hedge Providers on a pro rata basis for each Series of Priority Lien Debt (and
Swap Obligations represented by such Priority Lien Representative) that are secured by the Priority Lien Collateral for application to the payment of all such outstanding Priority Lien Debt and any other such Priority Lien Obligations that are then
due and payable and so secured (for application in such order as may be provided in the Priority Lien Documents applicable to the respective Priority Lien Obligations), in an amount sufficient to pay in full in cash all outstanding Priority Lien
Debt and all other Priority Lien Obligations that are then due and payable and so secured (including all interest and fees accrued thereon after the commencement of any Insolvency Proceeding at the rate, including any applicable post-default rate,
specified in the Priority Lien Documents, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (at the lower of (1) 103% of the aggregate undrawn amount
and (2) the percentage of the aggregate undrawn amount required for release of Liens under the terms of the applicable Priority Lien Document) of all outstanding letters of credit constituting Priority Lien Debt); 

THIRD, to the respective Junior Lien Representatives on a pro rata basis for each Series of Junior Lien Debt that are secured by such
Collateral for application to the payment of all outstanding Junior Lien Debt and any other Junior Lien Obligations that are so secured and then due and payable (for application in such order as may be provided in the Junior Lien Documents
applicable to the respective Junior Lien Obligations) in an amount sufficient to pay in full in cash all outstanding Junior Lien Debt and all other Junior Lien Obligations that are then due and payable and so secured (including, to the extent
legally permitted, all interest and fees accrued thereon after the commencement of any Insolvency Proceeding at the rate, including any applicable post-default rate, specified in the Junior Lien Documents, even if such interest is not enforceable,
allowable or allowed as a claim in such proceeding, and including the discharge or cash collateralization (at the lower of (1) 103% of the aggregate undrawn amount and (2) the percentage of the aggregate undrawn amount required for release of
Liens under the terms of the applicable Junior Lien Document) of all outstanding letters of credit, if any, constituting Junior Lien Debt); and 

FOURTH, any surplus remaining after the payment in full in cash of amounts described in the preceding clauses will be paid to the Issuer or
the applicable Grantor, as the case may be, its successors or assigns, or to such other Persons as may be entitled to such amounts under applicable law or as a court of competent jurisdiction may direct. 

Notwithstanding the foregoing, if any Series of Secured Debt has released its Lien on any Collateral as described below in Section 4.04
hereof, then such Series of Secured Debt and any related Secured Obligations of that Series thereafter shall not be entitled to share in the proceeds of any Collateral so released by that Series. 

  
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 (b)    If any Junior Lien Representative or any Junior Lien Secured Party
collects or receives any proceeds of any foreclosure, collection or other enforcement, proceeds of any insurance and any proceeds subject to Liens that have been avoided or otherwise invalidated that should have been applied to the payment of the
Priority Lien Obligations in accordance with Section 3.04(a) above, whether after the commencement of an Insolvency Proceeding or otherwise, such Junior Lien Representative or such Junior Lien Secured Party, as the case may be, will forthwith
deliver the same to the Priority Lien Collateral Trustee, for the account of the Priority Lien Secured Parties, to be applied in accordance with Section 3.04(a) above. Until so delivered, such proceeds shall be segregated and will be held by
that Junior Lien Representative or that Junior Lien Secured Party, as the case may be, for the benefit of the Priority Lien Secured Parties. 

(c)    This Section 3.04 is intended for the benefit of, and will be enforceable as a third party beneficiary by,
each present and future holder of Secured Obligations, each present and future Secured Debt Representative and the Priority Lien Collateral Trustee and Junior Lien Collateral Trustee as holder of Priority Liens and Junior Liens, as applicable. The
Secured Debt Representative of each future Series of Secured Debt will be required to deliver a Collateral Trust Joinder including a lien sharing and priority confirmation as provided in Section 3.08 hereof at the time of incurrence of such
Series of Secured Debt. 
 (d)    In connection with the application of proceeds pursuant to Section 3.04(a) above,
except as otherwise directed by an Act of Required Secured Parties, the applicable Collateral Trustee may (but shall not be obligated to) sell any non-cash proceeds for cash prior to the application of the
proceeds thereof. 
 (e)    In making the determinations and allocations in accordance with Section 3.04(a) above,
the Priority Lien Collateral Trustee may conclusively rely upon information supplied by the relevant Priority Lien Representative and Hedge Provider as to the amounts of unpaid principal and interest and other amounts outstanding with respect to its
respective Priority Lien Debt and any other Priority Lien Obligations and the amount of any “settlement amount” (or similar term) of any Swap Contracts included in the Priority Lien Obligations and information supplied by the relevant
Junior Lien Representative as to the amounts of unpaid principal and interest and other amounts outstanding with respect to its respective Junior Lien Debt and any other Junior Lien Obligations. In calculating the amount of Secured Obligations owed
to any Hedge Provider, the Secured Obligations owed to such Hedge Provider shall be determined by the relevant Hedge Provider in accordance with the terms of the relevant Swap Contract. Notwithstanding the foregoing, no Collateral Trustee shall have
any obligation to allocate proceeds to any Hedge Provider that has not notified such Collateral Trustee in writing of its outstanding Obligations prior to any such allocation by such Collateral Trustee; provided that such Collateral Trustee has
given such Hedge Provider at least five Business Days’ prior notice that it shall be applying proceeds in accordance with Section 3.04(a) above. If such Collateral Trustee does not receive such information from the Priority Lien
Representative and Hedge Provider, such Collateral Trustee shall be entitled to rely on information provided by the Issuer. 

(f)    Any disbursements made by Secured Debt Representatives shall be made in accordance with the provisions of the
applicable Secured Debt Documents. 
 Section 3.05    Powers of the Collateral Trustees. 

(a)    Each Collateral Trustee is irrevocably authorized and empowered to enter into and perform its obligations and
protect, perfect, exercise and enforce its interest, rights, powers and remedies under the Security Documents and applicable law and in equity and to act as set forth in this Article 3 or, subject to the other provisions of this Agreement, as
requested in any lawful directions given to it from time to time in respect of any matter by an Act of Required Secured Parties. 

  
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 (b)    No Secured Debt Representative or Secured Party (other than the
applicable Collateral Trustee) will have any liability whatsoever for any act or omission of the Priority Lien Collateral Trustee or the Junior Lien Collateral Trustee, as applicable. No Collateral Trustee will have any liability whatsoever for any
act or omission of any Secured Debt Representative or Secured Party or the other Collateral Trustee. 

Section 3.06    Documents and Communications. The applicable Collateral
Trustee will permit each Secured Debt Representative and each Secured Party upon reasonable written notice from time to time to inspect and copy, at the cost and expense of the party requesting such copies, any notices, certificates, instructions or
communications received by such Collateral Trustee in its capacity as such, to the extent such copies are not otherwise available through or provided by the Issuer or the applicable Grantor. 

Section 3.07    For Sole and Exclusive Benefit of the Secured Parties. The
applicable Collateral Trustee will accept, hold, administer and enforce all Liens on the Collateral at any time transferred or delivered to it and all other interests, rights, powers and remedies at any time granted to or enforceable by such
Collateral Trustee and all other property of the Trust Estates solely and exclusively for the benefit of itself and the present and future holders of present and future Secured Obligations, and will distribute all proceeds received by it in
realization thereon or from enforcement thereof solely and exclusively pursuant to the provisions of Section 3.04 hereof. 

Section 3.08    Additional Secured Debt. 

(a)    Each Collateral Trustee will, as collateral trustee hereunder, perform its undertakings set forth in this Agreement
with respect to any Secured Debt for which it acts as Collateral Trustee hereunder that is issued or incurred after the date hereof, if: 

(i)    such Secured Debt is identified as Junior Lien Debt or Priority Lien Debt in accordance with the
procedures set forth in Section 3.08(b) below; and 
 (ii)    unless such Funded Debt is issued
under an existing Secured Debt Document for any Series of Secured Debt whose Secured Debt Representative is already party to this Agreement, the designated Secured Debt Representative identified pursuant to Section 3.08(b) below signs a
Collateral Trust Joinder and delivers the same to each Collateral Trustee. 
 Notwithstanding the foregoing, (x) the incurrence of
revolving credit obligations under commitments that have previously been designated as Secured Debt and (y) the issuance of letters of credit and incurrence of reimbursement obligations in respect thereof under commitments that have previously
been designated as Secured Debt, shall automatically constitute Secured Debt and shall not require compliance with the procedures set forth in Section 3.08(b) below. 

(b)    The Issuer will be permitted to designate as Secured Debt hereunder any Funded Debt incurred by the Issuer or any
other Grantor after the date of this Agreement in accordance with the terms of all applicable Secured Debt Documents and ABL Lien Documents. The Issuer may only effect such designation by delivering to each Collateral Trustee an Additional Secured
Debt Designation that: 
 (i)    states that the Issuer or such other Grantor intends to incur additional
Secured Debt (“Additional Secured Debt”) which will either be (as specified in such Additional Secured 

  
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Debt Designation) (i) Priority Lien Debt not prohibited by any Secured Debt Document or ABL Lien Document to be incurred and secured by a Priority Lien equally and ratably with all
previously existing and future Priority Lien Debt or (ii) Junior Lien Debt not prohibited by any Secured Debt Document or ABL Lien Document to be incurred and secured with a Junior Lien equally and ratably with all previously existing and
future Junior Lien Debt; 
 (ii)    specifies the name and address of the Secured Debt Representative for
such Additional Secured Debt for purposes of this Agreement including Section 7.07 hereof; 

(iii)    states that the Issuer and each other Grantor has duly authorized, executed (if applicable) and
recorded (or caused to be recorded) in each appropriate governmental office all relevant filings and recordations to ensure that the Additional Secured Debt is secured by the Collateral in accordance with the Security Documents; 

(iv)    attaches as Exhibit 1 to such Additional Secured Debt Designation a Reaffirmation Agreement in
substantially the form attached as Exhibit 1 to Exhibit A of this Agreement, which Reaffirmation Agreement has been duly executed by the Issuer and each other Grantor and Guarantor; and 

(v)    states that the Issuer has caused a copy of the Additional Secured Debt Designation and the related
Collateral Trust Joinder to be delivered to each then existing Secured Debt Representative. 
 Although the Issuer shall be required to
deliver a copy of each Additional Secured Debt Designation and each Collateral Trust Joinder to each then existing Secured Debt Representative, the failure to so deliver a copy of the Additional Secured Debt and/or Collateral Trust Joinder to any
then existing Secured Debt Representative shall not affect the status of such debt as Additional Secured Debt if the other requirements of this Section 3.08 are complied with. Each Collateral Trustee and any then existing Secured Debt
Representative shall have the right to request that the Issuer provide a legal opinion of counsel as to the Additional Secured Debt being secured by a valid and perfected security interest in the Collateral; provided, however, that such legal
opinion or opinions need not address any collateral of a type or located in a jurisdiction not previously covered by any legal opinion delivered by or on behalf of the Issuer. Notwithstanding the foregoing, nothing in this Agreement will be
construed to allow the Issuer or any other Grantor to incur additional Funded Debt or Liens if prohibited by the terms of any Secured Debt Documents. 

(c)    With respect to the first incurrence of any Junior Lien Debt after the date hereof, concurrently with the delivery
of the Additional Secured Debt Designation satisfying the requirements of Section 3.08(b) above, the Grantors and the Junior Lien Collateral Trustee shall enter into Junior Lien Security Documents substantially in the form of the Priority Lien
Security Documents then outstanding, with such changes as are reasonably acceptable to each of the Secured Debt Representatives as of such date. With respect to any Secured Debt that is issued or incurred after the date hereof, the Issuer and each
of the other Grantors agrees to take such actions (if any) as may be necessary or as may from time to time reasonably be requested by the Priority Lien Collateral Trustee, the Junior Lien Collateral Trustee, any Priority Lien Representative, any
Junior Lien Representative or any Act of Required Secured Parties (it being understood that absent an Act of Required Secured Parties, neither the Priority Lien Collateral Trustee nor the Junior Lien Collateral Trustee shall have any duty to so
request), and enter into such technical amendments, modifications and/or supplements to the then existing Guarantees and Security Documents (or execute and deliver such additional Security Documents) as may from time to time be reasonably requested
by such Persons (including as contemplated by clause (d) below), to ensure that the Additional Secured Debt is secured by, and entitled to the benefits of, the relevant Security Documents, 

  
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 and each Secured Party (by its acceptance of the benefits hereof) hereby agrees to, and authorizes the applicable
Collateral Trustee to enter into, any such technical amendments, modifications and/or supplements (and additional Security Documents). The Issuer and each Grantor hereby further agree that, if there are any recording, filing or other similar fees
payable in connection with any of the actions to be taken pursuant to this Section 3.08(c) or Section 3.08(d) below, all such amounts shall be paid by, and shall be for the account of, the Issuer and the respective Grantors, on a joint and
several basis. 
 (d)    Without limitation of the foregoing, the Issuer and each of the other Grantors agrees to take
the following actions with respect to any Collateral consisting of Real Property with respect to all Additional Secured Debt: 

(i)    The Issuer and the other applicable Grantors shall enter into, and deliver to each Collateral
Trustee a mortgage modification (each such modification, a “Modification”) or new mortgage or deed of trust with regard to each Real Property subject to a mortgage or deed of trust (each such mortgage or deed of trust a
“Mortgage,” and each such property a “Mortgaged Property”), with such changes as may be required to account for local law matters, at the time of such incurrence, in proper form for recording in all
applicable jurisdictions, the Controlling Representative and the Issuer and such other Grantors are jointly and severally liable to pay all filing and recording fees and taxes, documentary stamp taxes and other taxes, charges and fees, if any,
necessary for filing or recording in the recording office of each jurisdiction where such Real Property to be encumbered thereby is situated; 

(ii)    the Issuer or the applicable Grantor will cause to be delivered a local counsel opinion with
respect to each such Mortgaged Property in form and substance, and issued by law firms, in each case, reasonably satisfactory to the Controlling Representative; 

(iii)    the applicable Grantor shall deliver to the approved title company or other applicable service
provider, each Collateral Trustee and/or all other relevant third parties all other items reasonably necessary to record each such Mortgage and Modification and to create, perfect or preserve the validity, enforceability and priority of the Lien of
the mortgage(s) as set forth above and contemplated hereby and by the Secured Debt Documents; and 
 (iv)    To the
extent reasonably requested by any Collateral Trustee, deliver to such Collateral Trustee a completed standard “life of loan” flood hazard determination form for each property encumbered by a Mortgage, and if the property is located in an
area designated by the U.S. Federal Emergency Management Agency (or any successor agency) as having special flood or mud slide hazards, (i) a notification from the Issuer to such Collateral Trustee (a “Flood Notice”) and (if
applicable) notification to such Collateral Trustee that flood insurance coverage under the National Flood Insurance Program (“NFIP”) created by the U.S. Congress pursuant to the National Flood Insurance Act of 1968, the Flood
Disaster Protection Act of 1973, the National Flood Insurance Reform Act of 1994 and the Flood Insurance Reform Act of 2004 is not available because the applicable community does not participate in the NFIP, (ii) documentation evidencing such
Collateral Trustee’s receipt of the Flood Notice (e.g., countersigned Flood Notice, return receipt of certified U.S. Mail, or overnight delivery), and (iii) to the extent required under the applicable Secured Debt Documents, if a Flood
Notice is required to be given and flood insurance is available in the community in which the property is located, a copy of one of the following: the flood insurance policy, the Issuer’s application for a flood insurance policy plus proof of
premium payment, a declaration page confirming that flood insurance has been issued or such other evidence of flood insurance reasonably satisfactory to the Controlling Representative. 

(e)    The Issuer shall have the right at any time on or after the Discharge of Priority Lien Obligations has occurred, to
enter into any Priority Lien Document evidencing Priority Lien Debt 

  
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which incurrence is not prohibited by the applicable Secured Debt Documents, and to designate such Funded Debt as Priority Lien Debt in accordance with Section 3.08(b) above. At any time
from and after the date of such designation pursuant to Section 3.08(b) above (the “Reference Date”), subject to compliance with Sections 3.08(c) and (d) above, the obligations under such Priority Lien Document
shall automatically and without further action be treated as Priority Lien Debt for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the Junior Lien Obligations
shall be at all times subordinated and junior to such Priority Liens Obligations pursuant to the terms of this Agreement, including with respect to Junior Lien Obligations that were incurred or outstanding on or prior to the Reference Date. 

Section 3.09    Insurance and Condemnation Awards. Unless and until the Discharge
of Priority Lien Obligations has occurred, the Priority Lien Collateral Trustee (for the benefit of the Priority Lien Secured Parties) shall have the sole and exclusive right, subject to the rights of the Grantors under, and to the extent required
by, the Priority Lien Documents, (a) to be named as additional insured and loss payee under any insurance policies maintained from time to time by any Grantor (other than the Junior Lien Collateral Trustee, but subject to the terms of this
Agreement), (b) adjust settlement for any insurance policy covering the Collateral in the event of any loss thereunder and (c) to approve any award granted in any condemnation or similar proceeding affecting the Collateral. Unless and until the
Discharge of Priority Lien Obligations has occurred, all proceeds of any such policy and any such award, if in respect of the Collateral, shall be paid (after payment of each Collateral Trustee’s indemnities, fees, costs and expenses) (i)
first, prior to the occurrence of the Discharge of Priority Lien Obligations, to the Priority Lien Representatives for the benefit of Priority Lien Secured Parties pursuant to the terms of the Priority Lien Documents, (ii) second, after the
occurrence of the Discharge of Priority Lien Obligations, to the Junior Lien Representatives for the benefit of the Junior Lien Secured Parties pursuant to the terms of the applicable Junior Lien Documents and (iii) third, if no Junior Lien
Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. If the Junior Lien Collateral Trustee, any Junior Lien Representative or
any Junior Lien Secured Party shall, at any time, receive any proceeds of any such insurance policy or any such award in contravention of this Agreement, it shall pay such proceeds over to the Priority Lien Collateral Trustee in accordance with the
terms of Section 3.04 hereof. 
 ARTICLE IV 

OBLIGATIONS ENFORCEABLE BY THE ISSUER AND THE OTHER GRANTORS 

Section 4.01    Release of Liens on Collateral. 

(a)    The Priority Lien Collateral Trustee’s and/or the Junior Lien Collateral Trustee’s Liens, as applicable,
upon the Collateral will be released or subordinated in any of the following circumstances: 
 (i)    in
whole, upon (A) payment in full and discharge of all outstanding Secured Debt and all other Secured Obligations that are outstanding, due and payable at the time all of the Secured Debt is paid in full and discharged; (B) termination or
expiration of all commitments to extend credit under all Secured Debt Documents and the cancellation or termination, cash collateralization (at the lower of (1) 103% of the aggregate undrawn amount and (2) the percentage of the aggregate
undrawn amount required for release of Liens under the terms of the applicable Secured Debt Documents) of all outstanding letters of credit issued pursuant to any Secured Debt Documents or, solely to the extent agreed to by the issuer of any
outstanding letter of credit issued pursuant to such Secured Debt Document, the issuance of a back to back letter of credit in favor of the issuer of any such outstanding letter of credit in an amount equal to such outstanding letter of credit and
issued by a financial institution reasonably acceptable to such 

  
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issuer; and (C) with respect to any Swap Obligations, (x) the cash collateralization of all such Swap Obligations on terms satisfactory to each applicable Hedge Provider or (y) the
expiration or termination of all Swap Contracts evidencing such Swap Obligations and payment in full in cash of all Swap Contracts with respect thereto; 

(ii)    as to any Collateral that is sold, transferred or otherwise disposed of by the Issuer or any other
Grantor to a Person that is not (either before or after such sale, transfer or disposition) the Issuer or a Restricted Subsidiary (as defined in the Priority Lien Indenture) of the Issuer in a transaction or other circumstance that is permitted by
all of the Secured Debt Documents as certified to each Collateral Trustee in an Officer’s Certificate, at the time of such sale, transfer or other disposition or to the extent of the interest sold, transferred or otherwise disposed of; provided
that each Collateral Trustee’s Liens upon the Collateral will not be released if the sale or disposition is subject to the “Merger, Amalgamation, Consolidation or Sale of All or Substantially All Assets” provisions of the Priority
Lien Indenture; 
 (iii)    as to a release of less than all or substantially all of the Collateral
(other than pursuant to clause (ii) above), if directed by an Act of Required Secured Parties accompanied by an Officer’s Certificate to the effect that the release was permitted by each applicable Secured Debt Document; 

(iv)    as to a release of all or substantially all of the Collateral (other than pursuant to clause
(i) above), if (A) consent to release of that Collateral has been given by the requisite percentage or number of holders of each Series of Secured Debt at the time outstanding as provided for in the applicable Secured Debt Documents and
(B) the Issuer has delivered an Officer’s Certificate and an Opinion of Counsel to each Collateral Trustee certifying that any such necessary consents have been obtained; 

(v)    (A) if any Guarantor is released from its obligations under each of the Priority Lien Documents in
accordance with the terms thereof, then the Priority Liens on any assets of such Guarantor constituting Collateral and the obligations of such Guarantor under its Guarantee of the Priority Lien Obligations, shall automatically, unconditionally and
simultaneously be released; and (B) if any Guarantor is released from all its obligations under each of the Junior Lien Documents in accordance with the terms thereof, then the Junior Liens on any assets of such Guarantor constituting
Collateral and the obligations of such Guarantor under its Guarantee of the Junior Lien Obligations, shall be automatically, unconditionally and simultaneously released; 

(vi)    notwithstanding any of the foregoing, if, prior to the Discharge of Priority Lien Obligations, the
Priority Lien Collateral Trustee is exercising its rights or remedies with respect to the Collateral under the Priority Lien Security Documents pursuant to an Act of Required Secured Parties, and the Priority Lien Collateral Trustee releases any
part of the Collateral from all of the Priority Liens or any Guarantor is released from its obligations under its Guarantee of all of the Priority Lien Obligations, in any such case, in connection with any collection, sale, foreclosure or other
enforcement, then the Junior Liens on such Collateral or the obligations of such Guarantor under its Guarantee of the Junior Lien Obligations, as the context may require, shall be automatically, unconditionally and simultaneously released to the
same extent. If in connection with any exercise of rights and remedies by the Priority Lien Collateral Trustee under the Priority Lien Security Documents pursuant to an Act of Required Secured Parties, the Equity Interests of any Person are
foreclosed upon or otherwise disposed of and the Priority Lien Collateral Trustee releases the Priority Lien on the property or assets of such Person then the Junior Liens with respect to the property or assets of such Person will be concurrently
and automatically released to the same extent as all of the Priority Liens on such property or assets are released; and 

  
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 (vii)    solely with respect to ABL Priority Collateral, if
and to the extent required by the ABL Intercreditor Agreement. 
 (b)    Each Collateral Trustee agrees for the benefit
of the Issuer and the other Grantors that if such Collateral Trustee at any time receives: 
 (i)    an
Officer’s Certificate stating that (A) the signing officer has read Article 4 of this Agreement and understands the provisions and the definitions relating hereto, (B) such officer has made such examination or investigation as is
necessary to enable him or her to express an informed opinion as to whether or not the conditions precedent in this Agreement and all other Secured Debt Documents, if any, relating to the release of the Collateral have been complied with and
(C) in the opinion of such officer, such conditions precedent, if any, have been complied with; 

(ii)    the proposed instrument or instruments releasing such Lien as to such property in recordable form,
if applicable; and 
 (iii)    prior to the Discharge of Priority Lien Obligations, the written
confirmation of each Priority Lien Representative (or, at any time after the Discharge of Priority Lien Obligations, each Junior Lien Representative) (such confirmation to be given following receipt of, and based solely on, the Officer’s
Certificate described in clause (i) above) that, in its view, such release is permitted by Section 4.01(a) above and the respective Secured Debt Documents governing the Secured Obligations the holders of which such Secured Debt
Representative represents; 
 then such Collateral Trustee will execute (with such acknowledgements and/or notarizations as are required and at the expense
of the Issuer) and deliver such release to the Issuer or other applicable Grantor on or before the later of (x) the date specified in such request for such release and (y) the fifth Business Day after the date of receipt of the items
required by this Section 4.01(b) by such Collateral Trustee. 
 (c)    Each Collateral Trustee hereby agrees that:

 (i)    in the case of any release pursuant to clause (ii) of Section 4.01(a) above, if the
terms of any such sale, transfer or other disposition require the payment of the purchase price to be contemporaneous with the delivery of the applicable release, then, at the written request of and at the expense of the Issuer or other applicable
Grantor, such Collateral Trustee will either (A) be present at and deliver the release at the closing of such transaction or (B) deliver the release under customary escrow arrangements that permit such contemporaneous payment and delivery
of the release; and 
 (ii)    at any time when a Secured Debt Default under a Series of Secured Debt
that constitutes Junior Lien Debt has occurred and is continuing, within five Business Days of the receipt by it of any Act of Required Secured Parties pursuant to Section 4.01(a)(iii) above, such Collateral Trustee will deliver a copy of such
Act of Required Secured Parties to each Secured Debt Representative. 

  
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 (d)    Each Secured Debt Representative hereby agrees that: 

(i)    as soon as reasonably practicable after receipt of an Officer’s Certificate from the Issuer
pursuant to Section 4.01(b)(i) above it will, to the extent required by such Section, either provide (A) the written confirmation required by Section 4.01(b)(iii) above, (B) a written statement that such release is not permitted
by Section 4.01(a) above or (C) a request for further information from the Issuer reasonably necessary to determine whether the proposed release is permitted by Section 4.01(a) above and after receipt of such information such Secured
Debt Representative will as soon as reasonably practicable either provide the written confirmation or statement required pursuant to clause (A) or (B), as applicable; and 

(ii)    within three Business Days of the receipt by it of any notice from the applicable Collateral
Trustee pursuant to Section 4.01(c)(ii) above, such Secured Debt Representative will deliver a copy of such notice to each registered holder of the Series of Priority Lien Debt or Series of Junior Lien Debt for which it acts as Secured Debt
Representative. 
 Section 4.02    Delivery of Copies to Secured Debt Representatives. The Issuer
will deliver to each Secured Debt Representative a copy of each Officer’s Certificate delivered to each Collateral Trustee pursuant to Section 4.01(b) hereof, together with copies of all documents delivered to each Collateral Trustee with
such Officer’s Certificate. The Secured Debt Representatives will not be obligated to take notice thereof or to act thereon, subject to Section 4.01(d) hereof. 

Section 4.03    Collateral Trustee not Required to Serve, File or Record. No Collateral Trustee is
required to serve, file, register or record any instrument releasing or subordinating its Liens on any Collateral; provided, however, that if the Issuer or any other Grantor shall make a written demand for a termination statement under Section 9-513(c) of the UCC, each Collateral Trustee at the expense of the Issuer shall comply with the written request of the Issuer or such Grantor to comply with the requirements of such UCC provision;
provided, further, that the Issuer shall have first provided to each Collateral Trustee written certification from the Secured Debt Representatives that the requirements of such UCC provisions and the Security Documents have been satisfied. 

Section 4.04    Release of Liens in Respect of any Series of Priority Lien Debt or any Series of Junior Lien
Debt. 
 (a)    In addition to any release pursuant to Section 4.01 hereof, the Priority Lien Collateral
Trustee’s Priority Lien will no longer secure the Priority Lien Notes outstanding under the Priority Lien Indenture or any other related Obligations under the Priority Lien Indenture, and the right of the holders of such series of Priority Lien
Notes and such Obligations to the benefits and proceeds of the Priority Lien Collateral Trustee’s Priority Lien on the Collateral will terminate and be discharged: 

(i)    upon satisfaction and discharge of the Priority Lien Indenture with respect to such series of
Priority Lien Notes as set forth under Article VIII of the Priority Lien Indenture; 
 (ii)    upon a
Legal Defeasance or Covenant Defeasance (each as defined under the Priority Lien Indenture) with respect to such series of Priority Lien Notes as set forth under Article VIII of the Priority Lien Indenture; 

(iii)    upon payment in full and discharge of all Priority Lien Notes of such series outstanding under the
Priority Lien Indenture and all related Obligations that are outstanding, due and payable under the Priority Lien Indenture at the time such series of Priority Lien Notes are paid in full and discharged; or 

  
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 (iv)    in whole or in part, with the consent of the holders
of the requisite percentage of such series of Priority Lien Notes in accordance with Article VIII of the Priority Lien Indenture. 

(b)    In addition to any release pursuant to Section 4.01 hereof, as to any Series of Priority Lien Debt, the
Priority Lien Collateral Trustee’s Priority Lien will no longer secure such Series of Priority Lien Debt if the requirements of a Discharge of Priority Lien Obligations are satisfied with respect to such Series of Priority Lien Debt and all
Priority Lien Obligations (including all Swap Obligations) related thereto. In addition to any release pursuant to Section 4.01 hereof, as to any Series of Junior Lien Debt, the Junior Lien Collateral Trustee’s Junior Lien will no longer
secure such Series of Junior Lien Debt if such Junior Lien Debt has been paid in full in cash, all commitments to extent credit in respect of such Series of Junior Lien Debt have been terminated and all other Junior Lien Obligations related thereto
that are outstanding and unpaid at the time such Series of Junior Lien Debt is paid are also paid in full in cash (other than any obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities in respect of which no
claim or demand for payment has been made at such time). 
 ARTICLE V 

IMMUNITIES OF THE COLLATERAL TRUSTEES 

Section 5.01    No Implied Duty. No Collateral Trustee will have any fiduciary
duties nor will it have responsibilities or obligations other than those expressly assumed by it in this Agreement and the other Security Documents. No Collateral Trustee will be required to take any action that is contrary to applicable law or any
provision of this Agreement or the other Security Documents. No implied covenants, functions, responsibilities, duties, obligations or liabilities whether arising under statute, common law or otherwise shall be read into this Agreement, the other
Security Documents or the ABL Intercreditor Agreement, or otherwise exist against such Collateral Trustee. Without limiting the generality of the foregoing sentences, the use of the term “trustee” in this Agreement with reference to any
Collateral Trustee is not intended to connote any fiduciary or other implied (or express) obligations arising under trust or agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to
create or reflect only an administrative relationship between independent contracting parties. 

Section 5.02    Appointment of Agents and Advisors. Each Collateral Trustee may
execute any of the trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, attorneys, accountants, appraisers or other experts or advisors selected by it in good faith as it may reasonably require and will
not be responsible for any misconduct or negligence on the part of any of them. 

Section 5.03    Other Agreements. Each Collateral Trustee has accepted its
respective appointment as Collateral Trustee hereunder and is bound by the Security Documents executed by such Collateral Trustee as of the date of this Agreement and, as directed by an Act of Required Secured Parties, such Collateral Trustee shall
execute additional Security Documents delivered to it after the date of this Agreement; provided, however, that such additional Security Documents do not adversely affect the rights, privileges, benefits and immunities of such Collateral Trustee. No
Collateral Trustee will otherwise be bound by, or be held obligated by, the provisions of any credit agreement, indenture or other agreement governing Secured Debt (other than this Agreement and the other Security Documents to which it is a party).
The Priority Lien Collateral Trustee shall be afforded the same rights, protections, immunities and indemnities afforded to it under the Priority Lien Indenture as if such rights, protections, immunities and indemnities were fully set forth herein
and the Junior Lien Collateral Trustee shall be afforded the same rights, protections, immunities and indemnities afforded to it under the applicable Junior Lien Documents as if such rights, protections, immunities and indemnities were fully set
forth 

  
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herein. Notwithstanding anything in any Secured Debt Document or Security Document to the contrary, the rights, protections, immunities and indemnities afforded to each Collateral Trustee under
the this Agreement shall be afforded to such Collateral Trustee in respect of the performance of its duties and obligations pursuant to the Secured Debt Documents and Security Documents. Each Collateral Trustee shall execute and deliver any
amendment, supplement, modification or waiver to any Secured Debt Document or Security Document which does not adversely affect the rights, duties, liabilities or immunities of such Collateral Trustee under such Secured Debt Document or Security
Document or otherwise. If it does, such Collateral Trustee may but need not sign it. 

Section 5.04    Solicitation of Instructions. 

(a)    Each Collateral Trustee may at any time solicit written confirmatory instructions, including but not limited to in
the form of an Act of Required Secured Parties, an Officer’s Certificate, an Opinion of Counsel, an instruction from the Secured Debt Representatives or an order of a court of competent jurisdiction, as to any action that it may be requested or
required to take, or that it may propose to take, in the performance of any of its obligations under this Agreement or the other Security Documents, including without limitation in the event of conflicting instructions received by the Priority Lien
Collateral Trustee and the Junior Lien Collateral Trustee. 
 (b)    No written direction given to the applicable
Collateral Trustee by an Act of Required Secured Parties that in the sole judgment of such Collateral Trustee imposes, purports to impose or might reasonably be expected to impose upon such Collateral Trustee any obligation or liability not set
forth in or arising under this Agreement and the other Security Documents will be binding upon such Collateral Trustee unless such Collateral Trustee elects, at its sole option, to accept such direction. 

(c)    Each Collateral Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Agreement at the request, order, or direction of any Secured Debt Representative or any of the holders of a Priority Lien or Junior Lien, as the case may be, pursuant to the provisions of this Agreement, unless such holders of a Priority Lien or
Junior Lien shall have offered to such Collateral Trustee security or indemnity reasonably satisfactory to it against the costs, expenses and liabilities which may be incurred therein or thereby. 

Section 5.05    Limitation of Liability. No Collateral Trustee will be responsible
or liable for any action taken or omitted to be taken by it hereunder or under any other Security Document, except for its own gross negligence, bad faith or willful misconduct as determined by a court of competent jurisdiction. No Collateral
Trustee shall have liability for acting in accordance with an Act of Required Secured Parties. Under no circumstances shall such Collateral Trustee be liable for special, indirect, punitive or consequential damages, regardless of the form of action.

 Section 5.06    Documents in Satisfactory Form. Each Collateral
Trustee will be entitled to require that all agreements, certificates, opinions, instruments and other documents at any time submitted to it, including those expressly provided for in this Agreement, be delivered to it in a form reasonably
satisfactory to it. 
 Section 5.07    Entitled to Rely. Each Collateral
Trustee may seek and conclusively rely upon, and shall be fully protected in relying upon, any judicial order or judgment, upon any advice, opinion or statement of legal counsel, independent consultants and other experts selected by it in good faith
and upon any certification, instruction, notice or other writing delivered to it by the Issuer or any other Grantor in compliance with the provisions of this Agreement or delivered to it by any Secured Debt Representative as to the Secured Parties
for whom it acts, without being required to determine the authenticity thereof or the correctness of any fact stated therein or the propriety or validity of service 

  
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thereof. Each Collateral Trustee may act in reliance upon any instrument comporting with the provisions of this Agreement or any signature reasonably believed by it to be genuine and may assume
that any Person purporting to give notice or receipt or advice or make any statement or execute any document in connection with the provisions hereof or the other Security Documents has been duly authorized to do so. To the extent an Officer’s
Certificate or opinion of counsel is required or permitted under this Agreement to be delivered to such Collateral Trustee in respect of any matter, such Collateral Trustee may rely conclusively on Officer’s Certificate or opinion of counsel as
to such matter and such Officer’s Certificate or opinion of counsel shall be full warranty and protection to such Collateral Trustee for any action taken, suffered or omitted by it under the provisions of this Agreement and the other Security
Documents. 
 Section 5.08    Secured Debt Default. No Collateral Trustee will
be required to inquire as to the occurrence or absence of any Secured Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Secured Debt Default unless and until it is directed by an Act
of Required Secured Parties. 
 Section 5.09    Actions by Collateral
Trustee. As to any matter not expressly provided for by this Agreement or the other Security Documents, the applicable Collateral Trustee will act or refrain from acting as directed by an Act of Required Secured Parties and will be
fully protected if it does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on the Secured Parties. 

Section 5.10    Security or Indemnity in favor of Collateral Trustee. No
Collateral Trustee will be required to advance or expend any funds or otherwise incur any financial liability in the performance of its duties or the exercise of its powers or rights hereunder unless it has been provided with security or indemnity
satisfactory to it against any and all liability, loss or expense which may be incurred by it by reason of taking or continuing to take such action. 

Section 5.11    Rights of Collateral Trustee. In the event of any conflict
between any terms and provisions set forth in this Agreement and those set forth in any other Security Document (other than the ABL Intercreditor Agreement), the terms and provisions of this Agreement shall supersede and control the terms and
provisions of such other Security Document (other than the ABL Intercreditor Agreement). In the event there is any bona fide, good faith disagreement between the other parties to this Agreement or any of the other Security Documents resulting in
adverse claims being made in connection with Collateral held by each Collateral Trustee, including without limitation in the event of conflicting instructions to the Priority Lien Collateral Trustee and Junior Lien Collateral Trustee, and the terms
of this Agreement or any of the other Security Documents do not unambiguously mandate the action such Collateral Trustee is to take or not to take in connection therewith under the circumstances then existing, or such Collateral Trustee is in doubt
as to what action it is required to take or not to take hereunder or under the other Security Documents, it will be entitled to refrain from taking any action (and will incur no liability for doing so) until directed otherwise in writing by a
request signed jointly by the parties hereto entitled to give such direction or by order of a court of competent jurisdiction. 

Section 5.12    Limitations on Duty of Collateral Trustee in Respect of Collateral. 

(a)    Beyond the exercise of reasonable care in the custody of Collateral in its possession, no Collateral Trustee will
have a duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or any other rights pertaining thereto and no Collateral
Trustee will be responsible for filing any financing or continuation statements or recording any documents or instruments in any public office at any time or times or otherwise perfecting or maintaining the perfection of any Liens on the Collateral.
The applicable Collateral Trustee shall deliver to each other Secured Debt Representative a copy of any 

  
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such written request. Each Collateral Trustee will be deemed to have exercised reasonable care in the custody of the Collateral in its possession if the Collateral is accorded treatment
substantially equal to that which it accords similar property for the account of third parties, and no Collateral Trustee will be liable or responsible for any loss or diminution in the value of any of such Collateral by reason of the act or
omission of any carrier, forwarding agency or other agent or bailee selected by such Collateral Trustee in good faith. 

(b)    Except as provided in Section 5.12(a) hereof, no Collateral Trustee will be responsible for the existence,
genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens in any of the Collateral, whether impaired by operation of law or by reason of any action hereunder, except to the extent such
action constitutes gross negligence, bad faith or willful misconduct on the part of such Collateral Trustee, as determined by the final judgment of a court of competent jurisdiction, for the validity or sufficiency of the Collateral or any agreement
or assignment contained therein, for the validity of the title of any Grantor to the Collateral, for insuring the Collateral or for the payment of taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the
Collateral. Each Collateral Trustee hereby disclaims any representation or warranty to the current and future holders of the Secured Obligations concerning the perfection of the security interests granted to it or in the value of any Collateral.

 Section 5.13    Assumption of Rights, Not Assumption of Duties.
Notwithstanding anything to the contrary contained herein: 
 (a)    each of the parties thereto will remain liable
under each of the Security Documents (other than this Agreement) to the extent set forth therein to perform all of their respective duties and obligations thereunder to the same extent as if this Agreement had not been executed; 

(b)    the exercise by the applicable Collateral Trustee of any of its rights, remedies or powers hereunder will not
release such parties from any of their respective duties or obligations under the other Security Documents; and 

(c)    the applicable Collateral Trustee will not be obligated to perform any of the obligations or duties of any of the
parties to the Security Documents other than those of such Collateral Trustee. 

Section 5.14    No Liability for Clean Up of Hazardous Materials. In no
event shall any Collateral Trustee be required to acquire title to an asset for any reason, or take any managerial action of any kind in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in
such Collateral Trustee’s sole discretion may cause such Collateral Trustee to be considered an “owner or operator” under any environmental laws or otherwise cause such Collateral Trustee to incur, or be exposed to, any environmental
liability or any liability under any other federal, state or local law, such Collateral Trustee reserves the right, instead of taking such action, either to resign as Collateral Trustee or to arrange for the transfer of the title or control of the
asset to a court appointed receiver. No Collateral Trustee will be liable to any Person for any environmental liability or any environmental claims or contribution actions under any federal, state or local law, rule or regulation by reason of such
Collateral Trustee’s actions and conduct as authorized, empowered and directed hereunder or relating to any kind of discharge or release or threatened discharge or release of any hazardous materials into the environment. 

Section 5.15    No Liability for Interest. No Collateral Trustee shall be
liable for interest or investment income on any money or securities received by it, except as such Collateral Trustee may agree in writing with the Issuer. 

  
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 Section 5.16    Non-Reliance on Collateral Trustee. No Collateral Trustee shall be required to keep itself informed as to the performance or observance by the Issuer or any Grantor of any of its obligations under
this Agreement, any Security Document or any other document referred to or provided for herein or therein. Except for notices, reports and other documents and information expressly required to be furnished to any Secured Party by the applicable
Collateral Trustee hereunder, the applicable Collateral Trustee shall have no duty or responsibility to provide any Secured Party with any credit or other information concerning the affairs, financial condition or business of the Issuer or any
Grantor that may come into the possession of such Collateral Trustee or any of its Affiliates. 

Section 5.17    No Duty to Monitor. Neither any Collateral Trustee nor any of its
respective directors, officers, employees, agents or affiliates shall be responsible for, nor have any duty to monitor, the performance or any action of the Issuer, any Guarantor, any Secured Debt Representative, or any other party to any Secured
Debt Document or any Security Document, or any of their directors, members, officers, agents, affiliate or employee, nor shall it have any liability in connection with the malfeasance or nonfeasance by such party. In no event shall any Collateral
Trustee be liable for any action taken or omitted to be taken by any Secured Debt Representative or any failure or delay in the performance by any Secured Debt Representative of its obligations under any Secured Debt Document, and each Collateral
Trustee shall have no duty to monitor or supervise any Secured Debt Representative or its performance of its obligations pursuant to any Secured Debt Document. The parties recognize that the accuracy and completeness of the information supplied by
any Collateral Trustee hereunder may be dependent upon the accuracy and completeness of the information received by such Collateral Trustee from the Issuer, any Secured Debt Representative and the other parties to the Secured Debt Documents and the
Security Documents and from other sources and such Collateral Trustee shall not be responsible for any inaccuracy in the information so obtained or for any inaccuracy or omission in the records which may result from such information or any failure
by such Collateral Trustee to perform its duties as set forth herein as a result of any inaccuracy or incompleteness. 
 ARTICLE VI

 RESIGNATION AND REMOVAL OF COLLATERAL TRUSTEE 

Section 6.01    Resignation or Removal of Collateral Trustee. Subject to
the appointment of a successor Collateral Trustee as provided in Section 6.02 hereof and the acceptance of such appointment by the successor Collateral Trustee: 

(a)    each Collateral Trustee may resign at any time by giving not less than 30 days’ notice of resignation to each
Secured Debt Representative and the Issuer; and 
 (b)    each Collateral Trustee may be removed at any time, with or
without cause, by an Act of Required Secured Parties. 
 Section 6.02    Appointment of
Successor Collateral Trustee. Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Parties. If no successor Collateral Trustee has been so appointed and accepted such
appointment within 30 days after the predecessor Collateral Trustee gave notice of resignation or was removed, the retiring Collateral Trustee may (at the expense of the Issuer), at its option, appoint a successor Collateral Trustee, or petition a
court of competent jurisdiction for appointment of a successor Collateral Trustee, which must be a bank or trust company: 

(a)    authorized to exercise corporate trust powers; 

(b)    having a combined capital and surplus of at least $50,000,000; and 

  
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 (c)    that is not a Junior Lien Representative or the Issuer or an Affiliate
of the Issuer. 
 The applicable Collateral Trustee will fulfill its obligations hereunder until a successor Collateral Trustee meeting the
requirements of this Section 6.02 has accepted its appointment as Priority Lien Collateral Trustee or Junior Lien Collateral Trustee and the provisions of Section 6.03 hereof have been satisfied. Any successor Collateral Trustee shall act
as both Priority Lien Collateral Trustee and Junior Lien Collateral Trustee hereunder. 

Section 6.03    Succession. When the Person so appointed as successor
Collateral Trustee accepts such appointment: 
 (a)    such Person will succeed to and become vested with all the
rights, powers, privileges and duties of the predecessor Collateral Trustee, and the predecessor Collateral Trustee will be discharged from its duties and obligations hereunder; and 

(b)    the predecessor Collateral Trustee will (at the expense of the Issuer) promptly transfer all Liens and collateral
security and other property of the Trust Estates within its possession or control to the possession or control of the successor Collateral Trustee and will execute instruments and assignments as may be necessary or desirable or reasonably requested
by the successor Collateral Trustee to transfer to the successor Collateral Trustee all Liens, interests, rights, powers and remedies of the predecessor Collateral Trustee in respect of the Security Documents or the Trust Estates. 

Thereafter the predecessor Collateral Trustee will remain entitled to enforce the immunities, rights, protections and indemnities granted to
it in Article 5 hereof and the provisions of Sections 7.11 and 7.12 hereof. 

Section 6.04    Merger, Conversion or Consolidation of Collateral Trustee. Any
Person into which the applicable Collateral Trustee may be merged or converted or with which it may be consolidated, or any Person resulting from any merger, conversion or consolidation to which such Collateral Trustee shall be a party, or any
Person succeeding to the business of such Collateral Trustee shall be the successor of such Collateral Trustee pursuant to Section 6.03 hereof, anything herein to the contrary notwithstanding; provided that without the execution or filing of
any paper with any party hereto or any further act on the part of any of the parties hereto, except where an instrument of transfer or assignment is required by law to effect such succession, anything herein to the contrary notwithstanding, such
Person satisfies the eligibility requirements specified in clauses (a) through (c) of Section 6.02 hereof. The applicable Collateral Trustee shall take commercially reasonable efforts to notify the Issuer, each Priority Lien Representative
and each Junior Lien Representative in writing of such merger, conversion or consolidation as soon as practicable after such merger, conversion or consolidation. 

ARTICLE VII 

MISCELLANEOUS PROVISIONS 

Section 7.01    Amendment. 

(a)    No amendment or supplement to the provisions of any Security Document (including this Agreement) will be effective
without the approval of the applicable Collateral Trustee acting as directed by an Act of Required Secured Parties, except that: 

(i)    any amendment or supplement that has the effect solely of: 

(A)    adding or maintaining Collateral, securing additional Secured Obligations that are otherwise not
prohibited by the terms of any Secured Debt Document to be secured by the Collateral or preserving, perfecting or establishing the Liens thereon or the rights of the applicable Collateral Trustee therein; or 

  
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 (B)    providing for the assumption of any Grantor’s
obligations under any Secured Debt Document in the case of a merger or consolidation or sale of all or substantially all of the assets of such Grantor to the extent not prohibited by the terms of the Priority Lien Indenture or any other Secured Debt
Documents, as applicable; 
 will become effective when executed and delivered by the Issuer and any other applicable Grantor party thereto and the
applicable Collateral Trustee; 
 (ii)    no amendment or supplement that reduces, impairs or adversely
affects the right of any Secured Party: 
 (A)    to vote its outstanding Secured Debt as to any matter
described as subject to an Act of Required Secured Parties or direction by the Required Junior Lien Debtholders (or amends the provisions of this Section 7.01(a)(ii) or the definitions of “Act of Required Secured Parties”, “Major
Non-Controlling Priority Representative” or “Controlling Representative”); 

(B)    to share in the order of application described in Section 3.04 hereof in the proceeds of
enforcement of or realization on any Collateral that has not been released in accordance with the provisions described in Section 4.01 or 4.04 hereof; 

(C)    to require that Liens securing Secured Obligations be released only as set forth in the provisions
described in Section 4.01 or 4.04 hereof; or 
 (D)    to amend the terms described under this
Section 7.01, 
 will become effective without the consent of the requisite percentage or number of holders of each Series of Secured Debt so affected
under the applicable Secured Debt Documents; and 
 (iii)    no amendment or supplement that imposes any obligation or
duty upon or adversely affects the rights of (i) the Priority Lien Collateral Trustee and/or the Junior Lien Collateral Trustee or (ii) any Secured Debt Representative, in any case, in its capacity as such will become effective without the
consent of (A) the Priority Lien Collateral Trustee or the Junior Lien Collateral Trustee so affected (or both, in the case of such an amendment or supplement generally affecting each Collateral Trustee) or (B) such Secured Debt
Representative, respectively. 
 (b)    Notwithstanding Section 7.01(a) above but subject to Sections 7.01(a)(ii)
and 7.01(a)(iii) above: 
 (i)    any Mortgage or other Security Document that secures Junior Lien
Obligations (but not Priority Lien Obligations) may be amended or supplemented with the approval of the Junior Lien Collateral Trustee acting as directed in writing by the Required Junior Lien Debtholders, unless such amendment or supplement would
not be permitted under the terms of this Agreement or the other Priority Lien Documents; and 

  
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 (ii)    any amendment or waiver of, or any consent under, any
Priority Lien Security Document (to the extent such amendment, waiver or consent is applicable to all Series of Priority Lien Debt) will apply automatically to any comparable provision of any comparable Junior Lien Security Document without the
consent of any Junior Lien Secured Party and without any action by the Issuer or any other Grantor or any Junior Lien Secured Party; provided that written notice of such amendment, waiver or consent shall have been given by the Issuer to each Junior
Lien Representative promptly after the effectiveness of such amendment, waiver or consent. 
 (c)    No Collateral
Trustee will enter into any amendment or supplement unless it has received an Officer’s Certificate and an Opinion of Counsel stating that such amendment or supplement will not result in a breach of any provision or covenant contained in any of
the Secured Debt Documents. Prior to executing any amendment or supplement pursuant to this Section 7.01, each Collateral Trustee will be entitled to receive an Opinion of Counsel of the Issuer to the effect that the execution of such document
is authorized or permitted hereunder, and with respect to amendments adding Collateral, an Opinion of Counsel of the Issuer addressing customary creation and perfection, and if such additional Collateral consists of Equity Interests of any Person
which Equity Interests constitute certificated securities, priority matters with respect to such additional Collateral (which opinion may be subject to customary assumptions and qualifications). 

Section 7.02    Voting. In connection with any matter under this Agreement
requiring a vote of holders of Secured Debt, each Series of Secured Debt will cast its votes in accordance with the Secured Debt Documents governing such Series of Secured Debt. The amount of Secured Debt to be voted by a Series of Secured Debt will
equal (1) the aggregate principal amount of Secured Debt held by the holders of such Series of Secured Debt, plus (2) other than in connection with an exercise of remedies, the aggregate unfunded commitments to extend credit which, when
funded, would constitute Funded Debt of such Series of Secured Debt. Following and in accordance with the outcome of the applicable vote under its Secured Debt Documents, the Secured Debt Representative of each Series of Secured Debt will cast all
of its votes under that Series of Secured Debt as a block in respect of any vote under this Agreement. Upon request of any Collateral Trustee, each Priority Lien Representative and each Junior Lien Representative will provide a written notice to
such Collateral Trustee of the aggregate principal amount (setting forth such amount including unfunded commitments and excluding unfunded commitments) of Priority Lien Debt or Junior Lien Debt for which it acts as Priority Lien Representative or
Junior Lien Representative. 
 Section 7.03    Further Assurances; Insurance. 

(a)    The Issuer and each of the other Grantors will do or cause to be done all acts and things that may be required, or
that any Collateral Trustee from time to time may reasonably request, to assure and confirm that such Collateral Trustee holds, for the benefit of the Secured Parties, duly created and enforceable and perfected Liens upon the Collateral (including
any property or assets that are acquired or otherwise become, or are required by any Secured Debt Document to become, Collateral after the date hereof), in each case as contemplated by, and with the Lien priority required under, the Secured Debt
Documents. 
 (b)    Upon the reasonable request of any Collateral Trustee or any Secured Debt Representative at any
time and from time to time, the Issuer and each of the other Grantors will promptly execute, acknowledge and deliver such security documents, instruments, certificates, notices and other documents, and take such other actions as may be reasonably
required, or that any Collateral Trustee may reasonably request, to create, perfect, protect, assure or enforce the Liens and benefits intended to be conferred, in each case as contemplated by the Secured Debt Documents for the benefit of the
Secured Parties, it being understood that no Collateral Trustee nor any Secured Debt Representative shall have a duty to so request. 

  
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 (c)    The Issuer and the other Grantors will: 

(i)    keep their properties adequately insured at all times by financially sound and reputable insurers;

 (ii)    maintain such other insurance, to such extent and against such risks (and with such
deductibles, retentions and exclusions), including fire and other risks insured against by extended coverage and coverage for acts of terrorism, as is customary with companies in the same or similar businesses operating in the same or similar
locations, including public liability insurance against claims for personal injury or death or property damage occurring upon, in, about or in connection with the use of any properties owned, occupied or controlled by them; and 

(iii)    maintain such other insurance as may be required by law or by the Security Documents. 

(d)    Upon the request of any Collateral Trustee, the Issuer and the other Grantors will furnish to such Collateral
Trustee full information as to their property and liability insurance carriers. 
 (e)    All insurance policies
required by Section 7.03(c) above (except for the insurance described in 7.03(c)(iii) above) will: 

(i)    provide that, with respect to third party liability insurance, the Secured Parties, as a class,
shall be named as additional insureds, with a waiver of subrogation; 
 (ii)    name each Collateral
Trustee as a loss payee and additional insured; 
 (iii)    provide that (x) no cancellation or
termination of such insurance and (y) no reduction in the limits of liability of such insurance or other material change shall be effective until 30 days after written notice is given by the insurers to each Collateral Trustee of such
cancellation, termination, reduction or change; 
 (iv)    waive all claims for insurance premiums or
commissions or additional premiums or assessments against the Secured Parties; and 
 (v)    waive any
right of the insurers to setoff or counterclaim or to make any other deductions, whether by way of attachment or otherwise, as against the Secured Parties. 

(f)    Upon the request of any Collateral Trustee, the Issuer and the other Grantors will permit such Collateral Trustee
or any of its agents or representatives, at reasonable times and intervals upon reasonable prior notice, to visit their offices and sites and inspect any of the Collateral and to discuss matters relating to the Collateral with their respective
officers and independent public accountants. The Issuer and the other Grantors shall, at any reasonable time and from time to time upon reasonable prior notice, permit each Collateral Trustee or any of its agents or representatives to examine and
make copies of and abstracts from the records and books of account of the Issuer and the other Grantors and their Subsidiaries, all at the Issuer’s expense. 

  
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 Section 7.04    Perfection of Junior Trust Estate. 

Solely for purposes of perfecting the Liens of the Junior Lien Collateral Trustee in its capacity as agent of the Junior Lien Secured Parties
and the Junior Lien Representatives in any portion of the Junior Trust Estate in the possession or control of the Priority Lien Collateral Trustee (or its agents or bailees) as part of the Senior Trust Estate including, without limitation, any
instruments, goods, negotiable documents, tangible chattel paper, certificated securities, securities accounts or money, the Priority Lien Collateral Trustee, the Priority Lien Secured Parties and the Priority Lien Representatives hereby acknowledge
that the Priority Lien Collateral Trustee also holds such property as gratuitous bailee for the benefit of the Junior Lien Collateral Trustee for the benefit of the Junior Lien Secured Parties and the Junior Lien Representatives (such bailment being
intended, among other things, to satisfy the requirements of Sections 8-106(d)(3), 8-301(a)(2) and 9-313(c) of the UCC). Solely with respect to any deposit accounts
under the control (within the meaning of Section 9-104 of the UCC) of the Priority Lien Collateral Trustee in its capacity as agent of the holders of the Priority Lien Obligations, the Priority Lien
Collateral Trustee agrees to also hold control over such deposit accounts as gratuitous agent for the benefit of the Junior Lien Collateral Trustee for the benefit of the Junior Lien Secured Parties and the Junior Lien Representatives. 

Section 7.05    [Reserved]. 

Section 7.06    Successors and Assigns. 

(a)    Except as provided in Section 5.02 hereof, no Collateral Trustee may, in its capacity as such, delegate any of
its duties or assign any of its rights hereunder, and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Priority Lien Collateral Trustee and the Junior Lien Collateral Trustee, as
applicable, hereunder will inure to the sole and exclusive benefit of, and be enforceable by, each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a
third-party beneficiary hereof, and all of their respective successors and assigns. 
 (b)    Neither the Issuer nor any
other Grantor may delegate any of its duties or assign any of its rights hereunder and any attempted delegation or assignment of any such duties or rights will be null and void. All obligations of the Issuer and the other Grantors hereunder will
inure to the sole and exclusive benefit of, and be enforceable by, each Collateral Trustee, each Secured Debt Representative and each present and future holder of Secured Obligations, each of whom will be entitled to enforce this Agreement as a
third-party beneficiary hereof, and all of their respective successors and assigns. 

Section 7.07    Delay and Waiver. No failure to exercise, no course of dealing
with respect to the exercise of, and no delay in exercising, any right, power or remedy arising under this Agreement or any of the other Security Documents will impair any such right, power or remedy or operate as a waiver thereof. No single or
partial exercise of any such right, power or remedy will preclude any other or future exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law.

 Section 7.08    Notices. Any communications, including notices and
instructions, between the parties hereto or notices provided herein to be given may be given to the following addresses: 
 If to the
Priority Lien Collateral Trustee: 
 Wilmington Trust, National Association 

Global Capital Markets 
 50
South Sixth Street, Suite 1290 
 Minneapolis, MN 55402 

  
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 Attention: Warrior Met Coal Inc. Administrator 

Fax: 612-217-5651 

If to the Junior Lien Collateral Trustee: 

[                    ] 

[ADDRESS] 
 Attention:
[                    ] 
 Telephone:
[                    ] 
 Fax:
[                    ] 
 If to the
Issuer or any other Grantor: 
 Warrior Met Coal, Inc. 

[                    ] 

Attn: [                    ] 

Telephone: [                    ] 

Fax: [                    ] 

If to the Priority Lien Trustee: 

Wilmington Trust, National Association 

Global Capital Markets 
 50
South Sixth Street, Suite 1290 
 Minneapolis, MN 55402 

Attention: Warrior Met Coal Inc. Administrator 

Fax: 612-217-5651 

If to the [Priority Lien Representative] [Junior Lien Representative]: 

[                    ] 

[ADDRESS] 
 Attention:
[                    ] 
 Telephone:
[                    ] 
 Fax:
[                    ] 
 and if to any other Secured
Debt Representative, to such address as it may specify by written notice to the parties named above. 
 All notices and communications will
be mailed by first class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery, to the relevant address set forth above or, as to holders of Secured Debt, its address shown on the
register kept by the office or agency where the relevant Secured Debt may be presented for registration of transfer or for exchange. To the extent applicable, any notice or communication will also be so mailed to any Person described in §
313(c) of the Trust Indenture Act of 1939, as amended, to the extent required thereunder. Failure to mail a notice or communication to a holder of Secured Debt or any defect in it will not affect its sufficiency with respect to other holders of
Secured Debt. 

  
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 If a notice or communication is mailed in the manner provided above within the time prescribed,
it is duly given, whether or not the addressee receives it; provided that notices delivered to any Collateral Trustee shall be deemed delivered upon actual receipt by such Collateral Trustee. 

Section 7.09    Notice Following Discharge of Priority Lien Obligations.
Promptly following the Discharge of Priority Lien Obligations with respect to one or more Series of Priority Lien Debt, each Priority Lien Representative with respect to each applicable Series of Priority Lien Debt that is so discharged will provide
written notice of such discharge to the Priority Lien Collateral Trustee and to each other Secured Debt Representative. 

Section 7.10    Entire Agreement. This Agreement states the complete
agreement of the parties relating to the undertaking of each Collateral Trustee set forth herein and supersedes all oral negotiations and prior writings in respect of such undertaking. 

Section 7.11    Compensation; Expenses. The Grantors jointly and severally
agree to pay, promptly upon demand: 
 (a)    such compensation to each Collateral Trustee and its agents as the Issuer
and such Collateral Trustee may agree in writing from time to time; 
 (b)    all reasonable costs and expenses incurred
by each Collateral Trustee and its agents in the preparation, execution, delivery, filing, recordation, administration or enforcement of this Agreement or any other Security Document or any consent, amendment, waiver or other modification relating
hereto or thereto; 
 (c)    all reasonable fees, expenses and disbursements of legal counsel and any auditors,
accountants, consultants or appraisers or other professional advisors and agents engaged by any Collateral Trustee or any Secured Debt Representative incurred in connection with the negotiation, preparation, closing, administration, performance or
enforcement of this Agreement and the other Security Documents or any consent, amendment, waiver or other modification relating hereto or thereto and any other document or matter requested by the Issuer or any other Grantor; 

(d)    all reasonable costs and expenses incurred by each Collateral Trustee and its agents in creating, perfecting,
preserving, releasing or enforcing such Collateral Trustee’s Liens on the Collateral, including filing and recording fees, expenses and taxes, stamp or documentary taxes, search fees and insurance premiums; 

(e)    all other reasonable costs and expenses incurred by each Collateral Trustee and its agents in connection with the
negotiation, preparation and execution of the Security Documents and any consents, amendments, waivers or other modifications thereto and the transactions contemplated thereby or the exercise of rights or performance of obligations by such
Collateral Trustee thereunder; and 
 (f)    after the occurrence of any Secured Debt Default, all costs and expenses
incurred by any Collateral Trustee, its agents and any Secured Debt Representative in connection with the preservation, collection, foreclosure or enforcement of the Collateral subject to the Security Documents or any interest, right, power or
remedy of such Collateral Trustee or in connection with the collection or enforcement of any of the Secured Obligations or the proof, protection, administration or resolution of any claim based upon the Secured Obligations in any Insolvency
Proceeding, including all fees and disbursements of attorneys, accountants, auditors, consultants, appraisers and other professionals engaged by such Collateral Trustee, its agents or the Secured Debt Representatives. 

  
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 The agreements in this Section 7.11 will survive repayment of all other Secured Obligations
and the removal or resignation of such Collateral Trustee and the Secured Debt Representatives. 

Section 7.12    Indemnity. 

(a)    The Grantors jointly and severally agree to defend, indemnify, pay and hold harmless each Collateral Trustee, each
Secured Debt Representative, each Secured Party and each of their respective Affiliates and each and all of the directors, officers, partners, trustees, employees, attorneys and agents, and (in each case) their respective heirs, representatives,
successors and assigns (each of the foregoing, an “Indemnitee”) from and against any and all Indemnified Liabilities; provided that no Indemnitee will be entitled to indemnification hereunder with respect to any Indemnified
Liability to the extent such Indemnified Liability is found by a final and nonappealable decision of a court of competent jurisdiction to have resulted from the gross negligence or willful misconduct of such Indemnitee. 

(b)    All amounts due under this Section 7.12 will be payable upon demand. 

(c)    To the extent that the undertakings to defend, indemnify, pay and hold harmless set forth in Section 7.12(a)
above may be unenforceable in whole or in part because they violate any law or public policy, each of the Grantors will contribute the maximum portion that it is permitted to pay and satisfy under applicable law to the payment and satisfaction of
all Indemnified Liabilities incurred by Indemnitees or any of them. 
 (d)    No Grantor will ever assert any claim
against any Indemnitee, on any theory of liability, for any lost profits or special, indirect or consequential damages or (to the fullest extent a claim for punitive damages may lawfully be waived) any punitive damages arising out of, in connection
with, or as a result of, this Agreement or any other Secured Debt Document or any agreement or instrument or transaction contemplated hereby or relating in any respect to any Indemnified Liability, and each of the Grantors hereby forever waives,
releases and agrees not to sue upon any claim for any such lost profits or special, indirect, consequential or (to the fullest extent lawful) punitive damages, whether or not accrued and whether or not known or suspected to exist in its favor. 

(e)    The agreements in this Section 7.12 will survive repayment of all other Secured Obligations and the removal or
resignation of each Collateral Trustee and the Secured Debt Representatives. 

Section 7.13    Actions Upon Breach; Specific Performance. If any Junior
Lien Secured Party, in contravention of the terms of this Agreement, in any way takes, attempts to or threatens to take any action with respect to the Collateral (including any attempt to realize upon or enforce any remedy with respect to this
Agreement), or fails to take any action required by this Agreement, this Agreement shall create an irrebuttable presumption and admission by such Junior Lien Secured Party that relief against such Junior Lien Secured Party by injunction, specific
performance and/or other appropriate equitable relief is necessary to prevent irreparable harm to the Priority Lien Secured Parties, it being understood and agreed by the Junior Lien Collateral Trustee and each Junior Lien Representative, on behalf
of each Junior Lien Secured Party represented by it, that (i) the Priority Lien Secured Parties’ damages from actions of any Junior Lien Secured Party may at that time be difficult to ascertain and may be irreparable and (ii) each
Junior Lien Secured Party waives any defense that the Grantors and/or the Priority Lien Secured Parties cannot demonstrate damage and/or be made whole by the awarding of damages. Each of the Priority Lien Collateral Trustee and/or each Priority Lien
Representative may demand specific performance of this Agreement. The Junior Lien Collateral Trustee and each Junior Lien Representative, on behalf of itself and each other Junior Lien Secured Party represented by it, hereby irrevocably waives any
defense based on the adequacy of a remedy at law and any other defense which 

  
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might be asserted to bar the remedy of specific performance in any action which may be brought by the Priority Lien Collateral Trustee, any Priority Lien Representative or any other Priority Lien
Secured Party. No provision of this Agreement shall constitute or be deemed to constitute a waiver by the Priority Lien Collateral Trustee or any Priority Lien Representative on behalf of itself and each other Priority Lien Secured Party represented
by it of any right to seek damages from any Person in connection with any breach or alleged breach of this Agreement. 

Section 7.14    Severability. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 7.15    Section Headings. The section headings and Table of
Contents used in this Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 7.16    Obligations Secured. All obligations of the Grantors set
forth in or arising under this Agreement will be Secured Obligations and are secured by all Liens granted by the Security Documents. 

Section 7.17    Governing Law. THIS AGREEMENT AND ANY DISPUTE, CLAIM OR
CONTROVERSY ARISING OUT OF OR RELATING TO THIS AGREEMENT (WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW
RULES THAT WOULD RESULT IN THE APPLICATION OF A DIFFERENT GOVERNING LAW (OTHER THAN ANY MANDATORY PROVISIONS OF THE UCC RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT OF PERFECTION OR PRIORITY OF THE SECURITY INTERESTS). 

Section 7.18    Consent to Jurisdiction. All judicial proceedings brought
against any party hereto arising out of or relating to this Agreement may be brought in any state or federal court of competent jurisdiction in the State, County and City of New York. By executing and delivering this Agreement, each Grantor, for
itself and in connection with its properties, irrevocably: 
 (a)    accepts generally and unconditionally the
nonexclusive jurisdiction and venue of such courts; 
 (b)    waives any defense of forum non conveniens; 

(c)    agrees that service of all process in any such proceeding in any such court may be made by registered or certified
mail, return receipt requested, to such party at its address provided in accordance with Section 7.08 hereof; 

(d)    agrees that service as provided in clause (c) above is sufficient to confer personal jurisdiction over such
party in any such proceeding in any such court and otherwise constitutes effective and binding service in every respect; and 

  
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 (e)    agrees that each party hereto retains the right to serve process in
any other manner permitted by law or to bring proceedings against any party in the courts of any other jurisdiction. 

Section 7.19    Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY
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 OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

Section 7.20    Counterparts. This Agreement may be executed by one or more
of the parties to this Agreement on any number of separate counterparts (including by facsimile or other electronic imaging means), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an
executed signature page of this Agreement by facsimile or other electronic transmission (e.g. “pdf’ or “tif’ format) shall be effective as delivery of a manually executed counterpart hereof. 

Section 7.21    Grantors and Additional Grantors. The Issuer represents and
warrants that each Person who is a Grantor on the date hereof has duly executed this Agreement. The Issuer will cause each Person that hereafter becomes a Grantor or is required by any Secured Debt Document to become a party to this Agreement to
become a party to this Agreement, for all purposes of this Agreement, by causing such Person to execute and deliver to each Collateral Trustee a Collateral Trust Joinder, whereupon such Person will be bound by the terms hereof to the same extent as
if it had executed and delivered this Agreement as of the date hereof. The Issuer shall promptly provide each Secured Debt Representative with a copy of each Collateral Trust Joinder executed and delivered pursuant to this Section 7.21;
provided, however, that the failure to so deliver a copy of the Collateral Trust Joinder to any then existing Secured Debt Representative shall not affect the inclusion of such Person as a Grantor if the other requirements of this Section 7.21
are complied with. 
 Section 7.22    Continuing Nature of this
Agreement. This Agreement, including the subordination provisions hereof, will be reinstated if at any time any payment or distribution in respect of any of the Priority Lien Obligations is rescinded or must otherwise be returned in
an Insolvency Proceeding or otherwise by any Priority Lien Secured Party or Priority Lien Representative or any representative of any such party (whether by demand, settlement, litigation or otherwise). In the event that all or any part of a payment
or distribution made with respect to the Priority Lien Obligations is recovered from any Priority Lien Secured Party or any Priority Lien Representative in an Insolvency Proceeding or otherwise, such payment or distribution received by any Junior
Lien Secured Party or Junior Lien Representative with respect to the Junior Lien Obligations from the proceeds of any Collateral or any insurance policy required by any real property mortgage at any time after the date of the payment or distribution
that is so recovered, whether pursuant to a right of subrogation or otherwise, that Junior Lien Representative or that Junior Lien Secured Party, as the case may be, will forthwith deliver the same to each Collateral Trustee, for the account of the
Priority Lien Secured Parties to be applied in accordance with Section 3.04 hereof. Until so delivered, such proceeds will be held by that Junior Lien Representative or that Junior Lien Secured Party, as the case may be, for the benefit of the
Priority Lien Secured Parties. 
 Section 7.23    Insolvency. This
Agreement will be applicable both before and after the commencement of any Insolvency Proceeding by or against any Grantor. The relative rights, as provided for in this Agreement, will continue after the commencement of any such Insolvency
Proceeding on the same basis as prior to the date of the commencement of any such case, as provided in this Agreement. 

  
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 Section 7.24    Rights and Immunities of
Collateral Trustee and Secured Debt Representatives. Each of the Priority Lien Collateral Trustee and the Priority Lien Trustee will be entitled to all of the rights, protections, immunities and indemnities set forth in the Priority Lien
Indenture and the Junior Lien Collateral Trustee and any future Secured Debt Representative will be entitled to all of the rights, protections, immunities and indemnities set forth in the credit agreement, indenture or other agreement governing the
applicable Secured Debt with respect to which such Person will act as representative, in each case as if specifically set forth herein. In no event will any Collateral Trustee be liable for any act or omission on the part of the Grantors, any
Secured Debt Representative or any other Collateral Trustee hereunder. In no event will the Priority Lien Trustee or Secured Debt Representative be liable for any act or omission on the part of the Grantors, any other Secured Debt Representative or
any Collateral Trustee hereunder. 
 Section 7.25    ABL Intercreditor Agreement. 

(a)    All rights and obligations of all parties to this Agreement will be subject to the ABL Intercreditor Agreement and,
in the event of any conflict between the provisions of this Agreement and the provisions of the ABL Intercreditor Agreement, the provisions of the ABL Intercreditor Agreement will control. 

(b)    During any insolvency proceedings, the ABL Intercreditor Agreement will be enforceable (to the extent allowed under
any applicable insolvency law) and to the extent set forth in the ABL Intercreditor Agreement, each Collateral Trustee and the ABL Collateral Agent will have the rights to seek adequate protection in such proceedings in accordance with the relative
priority of their security interests in the ABL Priority Collateral and the Term Priority Collateral. 
 (c)    Each
Secured Party hereunder, by accepting the benefits of the security provided under the Security Documents and the benefits provided hereby, (i) consents (or is deemed to consent), to the subordination of Liens provided for in the ABL
Intercreditor Agreement, (ii) agrees (or is deemed to agree) that it will be bound by, and will take no actions contrary to, the provisions of the ABL Intercreditor Agreement, and (iii) authorizes (or is deemed to authorize) each
Collateral Trustee on behalf of such Person to enter into, and perform under, the ABL Intercreditor Agreement. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

  
 - 59 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Agreement to be executed
by their respective officers or representatives as of the day and year first above written. 
  

			
	WARRIOR MET COAL, INC.
		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	[GUARANTORS]
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 [Signature Page to
Collateral Trust Agreement] 

 
			
	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Priority Lien Trustee under the Priority
Lien Indenture

		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Priority Lien Collateral
Trustee

		
	By:	 	
                     
                    

		 	Name:
		 	Title:
	
	[                                    
                                         
       ],
		 	as Junior Lien Collateral Trustee
		
	By:	 	
                     
                    

		 	Name:
		 	Title:

  
 [Signature Page to
Collateral Trust Agreement] 

 [EXHIBIT A to Collateral Trust Agreement] 

[FORM OF] 
 ADDITIONAL
SECURED DEBT DESIGNATION 
 Reference is made to the Collateral Trust Agreement dated as of [DATE] (as amended, supplemented, amended
and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among Warrior Met Coal, Inc., a Delaware corporation (the “Issuer”), the Grantors from time to time
party thereto, Wilmington Trust, National Association, as Priority Lien Trustee under the Priority Lien Indenture (as defined therein),
[                    ], as [                    ]
under the [                    ] (as defined therein), Wilmington Trust, National Association, as Priority Lien Collateral Trustee, and
[                    ], as Junior Lien Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them
in the Collateral Trust Agreement. This Additional Secured Debt Designation is being executed and delivered in order to designate additional secured debt as either Priority Lien Debt or Junior Lien Debt entitled to the benefit of the Collateral
Trust Agreement. 
 The undersigned, the duly appointed [specify title] of the [Issuer] hereby certifies on behalf of the [Issuer] that:

 (A)     [insert name of the Issuer or other Grantor] intends to incur additional Secured Debt
(“Additional Secured Debt”) which will be [select appropriate alternative] [Priority Lien Debt permitted by each applicable Secured Debt Document to be secured by a Priority Lien equally and ratably with all previously
existing and future Priority Lien Debt] or [Junior Lien Debt permitted by each applicable Secured Debt Document to be secured with a Junior Lien equally and ratably with all previously existing and future Junior Lien Debt]; 

(B)    the name and address of the Secured Debt Representative for the Additional Secured Debt for
purposes of Section 7.08 of the Collateral Trust Agreement is: 
  

                       
                                    

                       
                                    

Telephone:
                                        

Fax:
                                         
          
 (C)    Each of the Issuer and each other
Grantor has duly authorized, executed (if applicable) and recorded (or caused to be recorded) in each appropriate governmental office all relevant filings and recordations to ensure that the Additional Secured Debt is secured by the Collateral in
accordance with the Security Documents; 
 (D)    Attached as Exhibit 1 hereto is a Reaffirmation
Agreement duly executed by the Issuer and each other Grantor and Guarantor, and 
 (E)    the Issuer has
caused a copy of this Additional Secured Debt Designation and the related Collateral Trust Joinder to be delivered to each existing Secured Debt Representative. 

 IN WITNESS WHEREOF, the Issuer has caused this Additional Secured Debt Designation to be duly
executed by the undersigned officer as of [DATE]. 
  

					
	WARRIOR MET COAL, INC.
		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                

 ACKNOWLEDGEMENT OF RECEIPT 

The undersigned, the duly appointed Priority Lien Collateral Trustee and Junior Lien Collateral Trustee under the Collateral Trust Agreement, hereby
acknowledge receipt of an executed copy of this Additional Secured Debt Designation. 
  

					
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Priority Lien Collateral Trustee
		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                
	
	
[                          
                                         
                 ],
 as Junior Lien Collateral Trustee

		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                

  
 A-2 

 [EXHIBIT 1 TO ADDITIONAL SECURED DEBT DESIGNATION] 

[FORM OF] 
 REAFFIRMATION
AGREEMENT 
 Reference is made to the Collateral Trust Agreement dated as of [DATE] (as amended, supplemented, amended and restated or
otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among Warrior Met Coal, Inc., a Delaware corporation (the “Issuer”), the Grantors from time to time party thereto, Wilmington
Trust, National Association, as Priority Lien Trustee under the Priority Lien Indenture (as defined therein), [                    ], as
[                    ] under the
[                    ] (as defined therein), Wilmington Trust, National Association, as Priority Lien Collateral Trustee, and
[                    ], as Junior Lien Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them
in the Collateral Trust Agreement. This Reaffirmation Agreement is being executed and delivered as of [DATE] in connection with an Additional Secured Debt Designation of even date herewith which Additional Secured Debt Designation has designated
additional secured debt as either Priority Lien Debt or Junior Lien Debt (as described therein) entitled to the benefit of the Collateral Trust Agreement. 

Each of the undersigned hereby consents to the designation of additional secured debt as [Priority/Junior] Lien Debt as set forth in the
Additional Secured Debt Designation of even date herewith and hereby confirms its respective guarantees, pledges, grants of security interests and other obligations, as applicable, under and subject to the terms of each of the [Priority/Junior] Lien
Documents to which it is party, and agrees that, notwithstanding the designation of such additional indebtedness or any of the transactions contemplated thereby, such guarantees, pledges, grants of security interests and other obligations, and the
terms of each [Priority/Junior] Lien Document to which it is a party, are not impaired or adversely affected in any manner whatsoever and shall continue to be in full force and effect and such additional secured debt shall be entitled to all of the
benefits of such [Priority/Junior] Lien Documents. 
 Governing Law and Miscellaneous Provisions. The provisions of Article 7
of the Collateral Trust Agreement will apply with like effect to this Reaffirmation Agreement. 

 IN WITNESS WHEREOF, each of the undersigned has caused this Reaffirmation Agreement to be duly
executed as of the date written above. 
  

			
	[names of Grantors and guarantors]
		
	Name:	 	
                     
                    

	Title:	 	
                     
                    

  
 A-4 

 [EXHIBIT B to Collateral Trust Agreement] 

[FORM OF] 
 COLLATERAL
TRUST JOINDER — ADDITIONAL DEBT 
 Reference is made to the Collateral Trust Agreement dated as of [DATE] (as amended,
supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among Warrior Met Coal, Inc., a Delaware corporation (the “Issuer”), the Grantors
from time to time party thereto, Wilmington Trust, National Association, as Priority Lien Trustee under the Priority Lien Indenture (as defined therein),
[                    ], as [                    ]
under the [                    ] (as defined therein), Wilmington Trust, National Association, as Priority Lien Collateral Trustee, and
[                    ], as Junior Lien Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them
in the Collateral Trust Agreement. This Collateral Trust Joinder is being executed and delivered pursuant to Section 3.08 of the Collateral Trust Agreement as a condition precedent to the debt for which the undersigned is acting as agent being
entitled to the benefits of being additional secured debt under the Collateral Trust Agreement. 

1.    Joinder. The undersigned,
[                    ], a [                    ]
(the “New Representative”) as [trustee, administrative agent] under that certain [described applicable indenture, credit agreement or other document governing the additional secured debt] hereby agrees to become party as [a
Junior Lien Representative] [a Priority Lien Representative] under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned
had executed and delivered the Collateral Trust Agreement as of the date thereof. 
 2.    Lien Sharing and Priority
Confirmation. 
 [Option A: to be used if Additional Debt is Junior Lien Debt] [The undersigned New Representative, on
behalf of itself and each holder of Obligations in respect of the Series of Junior Lien Debt for which the undersigned is acting as Junior Lien Representative hereby agrees, for the enforceable benefit of all holders of each current and future
Series of Priority Lien Debt and Junior Lien Debt, each current and future Priority Lien Representative, each other current and future Junior Lien Representative and each current and future Priority Lien Secured Party and Junior Lien Secured Party
and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 
 (a) as provided by
Section 2.09 of the Collateral Trust Agreement, all Junior Lien Obligations will be and are secured equally and ratably by all Junior Liens at any time granted by the Issuer or any other Grantor to secure any Obligations in respect of any
Series of Junior Lien Debt, whether or not upon property otherwise constituting collateral for such Series of Junior Lien Debt, and that all such Junior Liens will be enforceable by the Junior Lien Collateral Trustee for the benefit of all Junior
Lien Secured Party equally and ratably; provided, however, that notwithstanding the foregoing, (x) this provision will not be violated with respect to any particular Collateral and any particular Series of Junior Lien Debt if the Secured Debt
Documents in respect thereof prohibit the applicable Junior Lien Representative from accepting the benefit of a Lien on any particular asset or property or such Junior Lien Representative otherwise expressly declines in writing to accept the benefit
of a Lien on such asset or property and (y) this provision will not be violated with respect to any particular Swap Obligations if the related Swap Contract prohibits the applicable Hedge Provider from accepting

 
the benefit of a Lien on any particular asset or property or such Hedge Provider otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property; 

(b)    the New Representative and each holder of Obligations in respect of the Series of Junior Lien Debt
for which the undersigned is acting as Junior Lien Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking of Junior Liens and the order of application of proceeds from the enforcement of Junior
Liens; and 
 (c)    the Junior Lien Collateral Trustee shall perform its obligations under the
Collateral Trust Agreement and the other Junior Lien Security Documents.] [or] 
 [Option B: to be used if Additional Debt is Priority Lien
Debt] [The undersigned New Representative, on behalf of itself and each holder of Obligations in respect of the Series of Priority Lien Debt for which the undersigned is acting as Priority Lien Representative hereby agrees, for the
enforceable benefit of all holders of each current and future Series of Priority Lien Debt and Junior Lien Debt, each current and future Junior Lien Representative, each other current and future Priority Lien Representative and each current and
future Priority Lien Secured Party and Junior Lien Secured Party and as a condition to being treated as Secured Debt under the Collateral Trust Agreement that: 

(a)    as provided by Section 2.09 of the Collateral Trust Agreement, all Priority Lien Obligations
will be and are secured equally and ratably by all Priority Liens at any time granted by the Issuer or any other Grantor to secure any Obligations in respect of any Series of Priority Lien Debt, whether or not upon property otherwise constituting
collateral for such Series of Priority Lien Debt, and that all such Priority Liens will be enforceable by the Priority Lien Collateral Trustee for the benefit of all Priority Lien Secured Parties equally and ratably; provided, however, that
notwithstanding the foregoing, (x) this provision will not be violated with respect to any particular Collateral and any particular Series of Priority Lien Debt if the Secured Debt Documents in respect thereof prohibit the applicable Priority
Lien Representative from accepting the benefit of a Lien on any particular asset or property or such Priority Lien Representative otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property and (y) this
provision will not be violated with respect to any particular Swap Obligations if the related Swap Contract prohibits the applicable Hedge Provider from accepting the benefit of a Lien on any particular asset or property or such Hedge Provider
otherwise expressly declines in writing to accept the benefit of a Lien on such asset or property; 

(b)    the New Representative and each holder of Obligations in respect of the Series of Priority Lien Debt
for which the undersigned is acting as Priority Lien Representative are bound by the provisions of this Agreement, including the provisions relating to the ranking of Priority Liens and the order of application of proceeds from the enforcement of
Priority Liens; and 

  
 B-2 

 (c) the Priority Lien Collateral Trustee shall perform its obligations under the
Priority Lien Collateral Trust Agreement and the other Security Documents.] 
 3.    Governing Law and Miscellaneous
Provisions. The provisions of Article 7 of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Joinder. 

4.    Collateral Trustee. Each of Wilmington Trust, National Association and
[                    ] is entering into this Collateral Trust Joinder solely in its capacity as Priority Lien Collateral Trustee and Junior Lien
Collateral Trustee, as applicable, under the Collateral Trust Agreement, and shall be entitled to all of the rights, privileges and immunities granted to each Collateral Trustee under the Collateral Trust Agreement when acting under this Collateral
Trust Joinder. 

  
 B-3 

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Joinder to be executed
by their respective officers or representatives as of [DATE]. 
  

					
	[insert name of the new representative]
		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                

 The Priority Lien Collateral Trustee and Junior Lien Collateral Trustee hereby acknowledge receipt of
this Collateral Trust Joinder and agree to act as Collateral Trustees for the New Representative and the holders of the Obligations represented thereby: 
  

					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Priority Lien Collateral
Trustee

		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                
	
	[                                   
                                         
        ],
		 	as Junior Lien Collateral Trustee
		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                

  
 B-4 

 [EXHIBIT C to Collateral Trust Agreement] 

[FORM OF] 
 COLLATERAL
TRUST JOINDER — ADDITIONAL GRANTOR 
 Reference is made to the Collateral Trust Agreement dated as of [DATE] (as amended,
supplemented, amended and restated or otherwise modified and in effect from time to time, the “Collateral Trust Agreement”) among Warrior Met Coal, Inc., a Delaware corporation (the “Issuer”), the Grantors
from time to time party thereto, Wilmington Trust, National Association, as Priority Lien Trustee under the Priority Lien Indenture (as defined therein),
[                    ], as [                    ]
under the [                    ] (as defined therein), Wilmington Trust, National Association, as Priority Lien Collateral Trustee, and
[                    ], as Junior Lien Collateral Trustee. Capitalized terms used but not otherwise defined herein have the meanings assigned to them
in the Collateral Trust Agreement. This Collateral Trust Joinder is being executed and delivered pursuant to Section 7.21 of the Collateral Trust Agreement. 

1.    Joinder. The undersigned,
[                    ], a [                    ],
hereby agrees to become party as a Grantor under the Collateral Trust Agreement for all purposes thereof on the terms set forth therein, and to be bound by the terms of the Collateral Trust Agreement as fully as if the undersigned had executed and
delivered the Collateral Trust Agreement as of the date thereof. 
 2.    Governing Law and Miscellaneous
Provisions. The provisions of Article 7 of the Collateral Trust Agreement will apply with like effect to this Collateral Trust Joinder. 

3.    Collateral Trustee. Each of Wilmington Trust, National Association and
[                    ] is entering into this Collateral Trust Joinder solely in its capacity as Priority Collateral Trustee and Junior Lien
Collateral Trustee, as applicable, under the Collateral Trust Agreement, and shall be entitled to all of the rights, privileges and immunities granted to each Collateral Trustee under the Collateral Trust Agreement when acting under this Collateral
Trust Joinder. 

 IN WITNESS WHEREOF, the parties hereto have caused this Collateral Trust Joinder to be executed
by their respective officers or representatives as of             , 20    . 
  

					
	[                                   
                                         
]
		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                

 The Priority Lien Collateral Trustee and Junior Lien Collateral Trustee hereby acknowledge receipt of
this Collateral Trust Joinder and agree to act as Collateral Trustees with respect to the Collateral pledged by the new Grantor: 
  

					
	 WILMINGTON TRUST, NATIONAL ASSOCIATION, as Priority Lien Collateral
Trustee

		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                
	
	[                                   
                                         
        ],
		 	as Junior Lien Collateral Trustee
		
	By:	 	                                   
                                         
    
		 	Name:	 	                                     
                                
		 	Title:	 	                                     
                                

  
 C-2Exhibit 10.1

 

Cytokinetics, Incorporated

Shares of Common Stock

(par value $0.001 per share)

 

Controlled Equity OfferingSM

 

Sales Agreement

 

November 3, 2017

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, NY 10022

 

Ladies and Gentlemen:

 

Cytokinetics, Incorporated, a Delaware corporation
(the “Company”), confirms its agreement (this “Agreement”) with Cantor Fitzgerald
& Co. (the “Agent”), as follows:

 

1.                 
Issuance and Sale of Shares. The Company agrees that, from time to time during the term of this Agreement, on the
terms and subject to the conditions set forth herein, it may issue and sell through the Agent shares of common stock (the “Placement
Shares”) of the Company, par value $0.001 per share (the “Common Stock”); provided, however,
that in no event shall the Company issue or sell through the Agent such number or dollar amount of Placement Shares that would
(a) exceed the number or dollar amount of shares of Common Stock registered on the effective Registration Statement (defined below)
pursuant to which the offering is being made, (b) exceed the number of authorized but unissued shares of Common Stock, (c) exceed
the number or dollar amount of shares of Common Stock permitted to be sold under Form S-3 (including General Instruction I.B.6.
thereof, if applicable) or (d) exceed the number or dollar amount of shares of Common Stock for which the Company has filed a Prospectus
(defined below) (the lesser of (a), (b), (c) and (d), the “Maximum Amount”). Notwithstanding anything
to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 1 on
the amount of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the
Agent shall have no obligation in connection with such compliance. The offer and sale of Placement Shares through the Agent will
be effected pursuant to the Registration Statement to be filed by the Company and which will become automatically effective under
Rule 462(e) of the Securities Act (as defined below) upon filing with the Securities and Exchange Commission (the “Commission”),
although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement to issue Common
Stock.

 

The Company has filed or will file, in accordance
with the provisions of the Securities Act of 1933, as amended (the “Securities Act”) and the rules and
regulations thereunder (the “Securities Act Regulations”), with the Commission a registration statement
on Form S-3, including a base prospectus relating to certain securities, including the Placement Shares to be issued from time
to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with
the provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules
and regulations thereunder. The Company has prepared a prospectus included as part of such registration statement, which prospectus
relates to the Placement Shares to be issued from time to time by the Company (the “Placement Share Prospectus”).
The Company will furnish to the Agent, for use by the Agent, copies of the Placement Share Prospectus, as supplemented, if at all,
by any prospectus supplement relating to the Placement Shares. The Company may file one or more additional registration statements
from time to time that will contain a base prospectus and related prospectus or prospectus supplement, if applicable (which shall
be a Prospectus), with respect to the Placement Shares. Except where the context otherwise requires, such registration statement(s),
including all documents filed as part thereof or incorporated by reference therein, and including any information contained in
a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act Regulations
or deemed to be a part of such registration statement pursuant to Rule 430B or 462(b) of the Securities Act Regulations, is
herein called the “Registration Statement.” The Placement Share Prospectus, any base prospectus or base
prospectuses relating to the Placement Shares, including all documents incorporated therein by reference, included in the Registration
Statement, as it may be supplemented, if necessary, by a prospectus supplement, in the form in which such prospectus or prospectuses
and/or prospectus supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under
the Securities Act Regulations, together with the then issued Issuer Free Writing Prospectus(es), is herein called the “Prospectus.”

 

     

     

    

Any reference herein to the Registration Statement,
the Prospectus or any Issuer Free Writing Prospectus shall be deemed to refer to and include the documents, if any, incorporated
by reference therein (the “Incorporated Documents”), including, unless the context otherwise requires,
the documents, if any, filed as exhibits to such Incorporated Documents. Any reference herein to the terms “amend,”
“amendment” or “supplement” with respect to the Registration Statement, the Placement Share Prospectus,
the Prospectus or any Issuer Free Writing Prospectus shall be deemed to refer to and include the filing of any document under the
Exchange Act on or after the most-recent effective date of the Registration Statement, or the date of the Placement Share Prospectus,
Prospectus or such Issuer Free Writing Prospectus, as the case may be, and incorporated therein by reference. For purposes of this
Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed
to include the most recent copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval system,
or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, “EDGAR”).

 

2.                 
Placements. Each time that the Company wishes to issue and sell Placement Shares hereunder (each, a “Placement”),
it will notify the Agent by email notice (or other method mutually agreed to in writing by the parties) of the number of Placement
Shares to be issued, the time period during which sales are requested to be made, any limitation on the number of Placement Shares
that may be sold in any one day and any minimum price below which sales may not be made (a “Placement Notice”),
the form of which is attached hereto as Schedule 1. The Placement Notice shall originate from any of the individuals from the Company
set forth on Schedule 3 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed
to each of the individuals from the Agent set forth on Schedule 3, as such Schedule 3 may be amended from time to time. The
Placement Notice shall be effective unless and until (i) the Agent declines to accept the terms contained therein for any
reason, in its sole discretion, which declination must occur within two (2) Business Days (as defined below) of the receipt of
the Placement Notice, (ii) the entire amount of the Placement Shares thereunder have been sold, (iii) the Company suspends
or terminates the Placement Notice or (iv) this Agreement has been terminated under the provisions of Section 12. The amount
of any discount, commission or other compensation to be paid by the Company to Agent in connection with the sale of the Placement
Shares shall be calculated in accordance with the terms set forth in Schedule 2. It is expressly acknowledged and agreed that neither
the Company nor the Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until
the Company delivers a Placement Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms
set forth above, and then only upon the terms specified therein and herein. In the event of a conflict between the terms of this
Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control.

 

    	 	-2-	 

     

    

3.                 
Sale of Placement Shares by Agent. Subject to the terms and provisions of this Agreement, the Agent, for the period
specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices
and applicable state and federal laws, rules and regulations and the rules of the NASDAQ Stock Market (the “Exchange”),
to sell the Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The
Agent will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately
following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares
sold on such day, the compensation payable by the Company to the Agent pursuant to Section 2 with respect to such sales, and the
Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth in
Section 5(b)) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice, the Agent
may sell Placement Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4)
of the Securities Act Regulations, including without limitation sales made directly on or through the Exchange, or any other existing
trading market for the Common Stock, in negotiated transactions at market prices prevailing at the time of sale or at prices related
to such prevailing market prices and/or any other method permitted by law. “Trading Day” means any day
on which Common Stock is traded on the Exchange.

 

4.                 
Suspension of Sales. The Company or the Agent may, upon notice to the other party in writing (including by email
correspondence to each of the individuals of the other party set forth on Schedule 3, if receipt of such correspondence is actually
acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately
by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on Schedule
3), suspend any sale of Placement Shares (a “Suspension”); provided, however, that such Suspension shall
not affect or impair any party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of
such notice. While a Suspension is in effect any obligation under Sections 7(l), 7(m), and 7(n) with respect to the delivery of
certificates, opinions, or comfort letters to the Agent, shall be waived, provided, however, that such waiver shall not apply for
the Representation Date (defined below) occurring on the date that the Company files its annual report on Form 10-K. Each of the
parties agrees that no such notice under this Section 4 shall be effective against any other party unless it is made to and acknowledged
by one of the individuals named on Schedule 3 hereto, as such Schedule may be amended from time to time.

 

    	 	-3-	 

     

    

5.                 
Sale and Delivery to the Agent; Settlement.

 

(a)               
Sale of Placement Shares.  On the basis of the representations and warranties herein contained and subject
to the terms and conditions herein set forth, upon the Agent’s acceptance of the terms of a Placement Notice, and unless
the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the
terms of this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially reasonable efforts
consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement Shares up to the
amount specified, and otherwise in accordance with the terms of such Placement Notice. The Company acknowledges and agrees that
(i) there can be no assurance that the Agent will be successful in selling Placement Shares, (ii) the Agent will incur no liability
or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure
by the Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable law
and regulations to sell such Placement Shares as required under this Agreement and (iii) the Agent shall be under no obligation
to purchase Placement Shares on a principal basis pursuant to this Agreement, except as otherwise agreed by the Agent and the Company.

 

(b)              
Settlement of Placement Shares.  Unless otherwise specified in the applicable Placement Notice, settlement
for sales of Placement Shares will occur on the third (3rd) Trading Day (or such earlier day as is industry practice
for regular-way trading) following the date on which such sales are made (each, a “Settlement Date”).
The Agent shall notify the Company of each sale of Placement Shares no later than the opening of the Trading Day immediately following
the Trading Day on which it has made sales of Placement Shares hereunder. The amount of proceeds to be delivered to the Company
on a Settlement Date against receipt of the Placement Shares sold (the “Net Proceeds”) will be equal
to the aggregate sales price received by the Agent, after deduction for (i) the Agent’s commission, discount or other compensation
for such sales payable by the Company pursuant to Section 2 hereof, and (ii) any transaction fees imposed by any governmental or
self-regulatory organization in respect of such sales.

 

(c)               
 Delivery of Placement Shares. On or before each Settlement Date, the Company will, or will cause its transfer agent
to, electronically transfer the Placement Shares being sold by crediting the Agent’s or its designee’s account (provided
the Agent shall have given the Company written notice of such designee at least one (1) Trading Day prior to the Settlement Date)
at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may
be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable, registered shares in good
deliverable form. On each Settlement Date, the Agent will deliver the related Net Proceeds in same day funds to an account designated
by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or its transfer agent (if applicable),
defaults in its obligation to deliver Placement Shares on a Settlement Date through no fault of the Agent, the Company agrees that
in addition to and in no way limiting the rights and obligations set forth in Section 10(a) hereto, it will (i) hold the Agent
harmless against any loss, claim, damage, or expense (including reasonable legal fees and expenses), as incurred, arising out of
or in connection with such default by the Company or its transfer agent (if applicable) and (ii) pay to the Agent any commission,
discount, or other compensation to which it would otherwise have been entitled absent such default.

 

    	 	-4-	 

     

    

(d)              
Denominations; Registration. Certificates for the Placement Shares, if any, shall be in such denominations
and registered in such names as the Agent may request in writing at least one (1) full Business Day before the Settlement Date.
The certificates for the Placement Shares, if any, will be made available by the Company for examination and packaging by the Agent
in The City of New York not later than noon (New York time) on the Business Day prior to the Settlement Date.

 

(e)               
Limitations on Offering Size. Under no circumstances shall the Company cause or request the offer or sale
of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate gross sales proceeds of Placement
Shares sold pursuant to this Agreement would exceed the lesser of (A) together with all sales of Placement Shares under this
Agreement, the Maximum Amount, (B) the amount available for offer and sale under the currently effective Registration Statement
and (C) the amount authorized from time to time to be issued and sold under this Agreement by the Company’s board of
directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent in writing.
Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement
at a price lower than the minimum price authorized from time to time by the Company’s board of directors, a duly authorized
committee thereof or a duly authorized executive committee, and notified to the Agent in writing. Further, under no circumstances
shall the Company cause or permit the aggregate offering amount of Placement Shares sold pursuant to this Agreement to exceed the
Maximum Amount.

 

6.                 
Representations and Warranties of the Company. The Company represents and warrants to, and agrees with Agent that
as of the date of this Agreement and as of each Applicable Time (as defined below), unless such representation, warranty or agreement
speaks as of a different time:

 

(a)               
Registration Statement and Prospectus. The Company and, assuming no act or omission on the part of the Agent that
would make such statement untrue, the transactions contemplated by this Agreement meet the requirements for and comply with the
applicable conditions for the use of Form S-3 (including General Instructions I.A and I.B) under the Securities Act. The Registration
Statement has been filed or will be filed with the Commission and has been or will be declared effective by the Commission under
the Securities Act prior to the issuance of any Placement Notices by the Company. The Prospectus will name the Agent as the agent
in the section entitled “Plan of Distribution.” The Company has not received, and has no notice of, any order of the
Commission preventing or suspending the use of the Registration Statement, or threatening or instituting proceedings for that purpose.
The Registration Statement and the offer and sale of Placement Shares pursuant to this Agreement hereby meet the requirements of
Rule 415 under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts
or other documents that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits
to the Registration Statement have been or will be so described or filed. Copies of the Registration Statement, the Prospectus,
and any amendments or supplements thereto and all Incorporated Documents that were filed with the Commission on or prior to the
date of this Agreement have been delivered, or are available through EDGAR, to the Agent and its counsel. The Company has not distributed
and, prior to the later to occur of each Settlement Date and completion of the distribution of the Placement Shares, will not distribute
any offering material in connection with the offering or sale of the Placement Shares other than the Registration Statement and
the Prospectus and any Issuer Free Writing Prospectus (as defined below) to which the Agent has consented, any such consent not
to be unreasonably withheld conditioned or delayed. The Common Stock is registered pursuant to Section 12(b) of the Exchange Act
and is currently listed on the Exchange under the trading symbol “CYTK.” The Company has taken no action designed to,
or likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common
Stock from the Exchange, nor has the Company received any notification that the Commission or the Exchange is contemplating terminating
such registration or listing. To the Company’s knowledge, it is in compliance with all applicable listing requirements of
the Exchange. The Company has no reason to believe that it will not in the foreseeable future continue to be in compliance with
all such listing and maintenance requirements.

 

    	 	-5-	 

     

    

(b)              
No Misstatement or Omission. The Registration Statement, when it became or becomes effective, and the Prospectus,
and any amendment or supplement thereto, on the date of such Prospectus or amendment or supplement, conformed and will conform
in all material respects with the requirements of the Securities Act. The Registration Statement, when it became or becomes effective,
did not, and will not, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date
thereof and at each Applicable Time (defined below), did not or will not include an untrue statement of a material fact or omit
to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading. The Incorporated Documents did not, and any further Incorporated Documents filed after the date of this Agreement will
not, when filed with the Commission, contain an untrue statement of a material fact or omit to state a material fact required to
be stated in such document or necessary to make the statements in such document, in light of the circumstances under which they
were made, not misleading. The foregoing shall not apply to statements in, or omissions from, any such document made in reliance
upon, and in conformity with, information furnished to the Company by the Agent specifically for use in the preparation thereof.

 

(c)               
Conformity with Securities Act and Exchange Act. The Registration Statement, the Prospectus, any Issuer Free Writing
Prospectus or any amendment or supplement thereto, and the Incorporated Documents, when such documents were or are filed with the
Commission under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as the case may
be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable.
At each Settlement Date, the Registration Statement and the Prospectus, as of such date, will conform in all material respects
with the requirements of the Securities Act.

 

(d)              
Financial Information. The financial statements of the Company included or incorporated by reference in the Registration
Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, together with the related notes and schedules, comply
in all material respects with the requirements of the Securities Act and the Exchange Act and present fairly, in all material respects,
the financial position of the Company at the dates indicated and the statements of operations, statements of stockholders’
equity and statements of cash flows of the Company for the periods specified (subject to normal year end audit adjustments for
interim financial statements) and have been prepared in conformity with GAAP (as defined below) applied on a consistent basis during
the periods involved; the summary and selected financial data with respect to the Company and the Subsidiaries (as defined below)
contained or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses,
if any, fairly present in all material respects the information shown therein as at the respective dates and for the respective
periods specified and are accurately and fairly presented and prepared on a basis consistent with the financial statements set
forth in the Registration Statement and the Prospectus and other accounting books and records of the Company. No other schedules
or financial statements (historical or pro forma) are required to be included or incorporated by reference in the Registration
Statement, or the Prospectus that are not included or incorporated by reference as required. The Company and the Subsidiaries (as
defined below) do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations),
not described in the Registration Statement (excluding the exhibits thereto), and the Prospectus; and all disclosures contained
or incorporated by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, regarding
“non-GAAP financial measures” (as such term is defined by the rules and regulations of the Commission) comply, in all
material respects, with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent
applicable. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration
Statement and the Prospectus fairly presents the information called for in all material respects and has been prepared in accordance
with the Commission’s rules and guidelines applicable thereto.

 

    	 	-6-	 

     

    

(e)               
Conformity with EDGAR Filing. The Prospectus delivered to the Agent for use in connection with the sale of the Placement
Shares pursuant to this Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission
for filing via EDGAR, except to the extent permitted by Regulation S-T.

 

(f)               
Organization. The Company and each of its Subsidiaries (as defined below) has been duly organized and is validly
existing as a corporation and in good standing under the laws of the State of Delaware, with corporate power and authority to own
its properties and conduct its business as currently being conducted and as described in the Registration Statement and the Prospectus,
and is duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws of each other
jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, except where the
failure to be so qualified in any such jurisdiction would not reasonably be expected to, individually or in the aggregate, have
a material adverse effect on the assets, business, operations, earnings, properties, condition (financial or otherwise), prospects,
stockholders’ equity or results of operations of the Company and the Subsidiaries (as defined below) taken as a whole, or
prevent or materially interfere with the consummation of the transactions contemplated hereby (a “Material Adverse
Effect”).

 

(g)              
Subsidiaries. The Company has no subsidiaries other than those set forth on Schedule 4 (collectively, the
“Subsidiaries”). The Company does not own, directly or indirectly, any shares of stock or any other equity
or long-term debt securities of any other corporation or have any equity interest in any other corporation, partnership, joint
venture, association, trust or other entity.

 

(h)              
No Violation or Default. Neither the Company nor any of its Subsidiaries are in breach or violation of nor in default
under (nor has any event occurred which, with notice, lapse of time or both, would result in any breach or violation of, constitute
a default under or give the holder of any indebtedness (or a person acting on such holder’s behalf) the right to require
the repurchase, redemption or repayment of all or a part of such indebtedness under) (i)  its charter or by-laws or similar
organizational documents; (ii)  any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to
which the Company or any of its Subsidiaries is a party or by which any of the Company’s properties or assets may be bound
or affected; or (iii) any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental
or regulatory authority, except, in the case of each of clauses (ii) and (iii) above, for any such violation or default that would
not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. To the Company’s knowledge,
no other party under any material contract or other agreement to which it or any of its Subsidiaries is a party is in default in
any respect thereunder where such default would have a Material Adverse Effect.

 

    	 	-7-	 

     

    

(i)                
No Material Adverse Change. Subsequent to the respective dates as of which information is given in the Registration
Statement, the Prospectus and the Free Writing Prospectuses, if any (including any Incorporated Document), there has not been (i)
any Material Adverse Effect or the occurrence of any development that the Company reasonably expects will result in a Material
Adverse Effect, (ii) other than as contemplated by this Agreement, any transaction which is material to the Company and the Subsidiaries
taken as a whole, (iii) any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred
by the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv) any material change
in the capital stock (other than as a result of the sale of Placement Shares) or outstanding long-term indebtedness of the Company
or any of its Subsidiaries or (v) any dividend or distribution of any kind declared, paid or made on the capital stock of the Company
or any Subsidiary, other than in each case above in the ordinary course of business or as otherwise disclosed in the Registration
Statement or Prospectus (including any document deemed incorporated by reference therein).

 

(j)                
Capitalization. The issued and outstanding shares of capital stock of the Company have been validly issued, are fully
paid and nonassessable and, other than as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive
rights, rights of first refusal or similar rights pursuant to the Company’s charter, bylaws or any agreement or other instrument
to which the Company is a party or by which the Company is bound. The Company has an authorized, issued and outstanding capitalization
as set forth in the Registration Statement and the Prospectus as of the dates referred to therein and such authorized capital stock
conforms in all material respects to the description thereof set forth in the Registration Statement and the Prospectus. The description
of the securities of the Company in the Registration Statement and the Prospectus is complete and accurate in all material respects.
Except as disclosed in or contemplated by the Registration Statement or the Prospectus, as of the date referred to therein, there
are no options, warrants, agreements, commitments, contracts or other rights in existence to purchase or acquire from the Company
whether through a conversion, exchange or otherwise any shares of the capital stock of the Company or other securities (other than
as a result of the grant of stock options under the Company’s existing equity incentive plans after the date(s) set forth
in the Registration Statement and the Prospectus.

 

(k)              
Authorization; Enforceability. The Company has full legal right, power and authority to enter into this Agreement
and to perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company
and constitutes a legal, valid and binding agreement of the Company, enforceable in accordance with its terms, except as rights
to indemnification or contribution hereunder may be limited by federal or state securities laws and except as such enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally
and by general equitable principles.

 

    	 	-8-	 

     

    

(l)                
Authorization of Placement Shares. The Placement Shares, when issued and delivered pursuant to the terms approved
by the board of directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against
payment therefor as provided herein, will be duly authorized, validly issued, fully paid and nonassessable and free and clear of
any pledge, lien, encumbrance, security interest or other claim (other than any pledge, lien, encumbrance, security interest or
other claim arising from an act or omission of the Agent or a purchaser), including any statutory or contractual preemptive rights,
resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12 of the Exchange Act.
The Placement Shares, when issued, will conform in all material respects to the description of the Placement Shares contained in
the Registration Statement and the Prospectus under the caption “Description of Capital Stock”.

 

(m)            
No Consents Required. No consent, approval, authorization, order, registration or qualification of or with any court
or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of
this Agreement or the issuance and sale by the Company of the Placement Shares, except for (i) the registration of the Placement
Shares under the Securities Act; and (ii) such consents, approvals, authorizations, orders and registrations or qualifications
as may be required under applicable state securities laws or by the by-laws and rules of the Financial Industry Regulatory Authority
(“FINRA”) or the Exchange in connection with the sale of the Placement Shares by the Agent.

 

(n)              
No Preferential Rights. Except as set forth in the Registration Statement and the Prospectus, (i) no person,
as such term is defined in Rule 1-02 of Regulation S-X promulgated under the Securities Act (each, a “Person”),
has the right, contractual or otherwise, to cause the Company to issue or sell to such Person any Common Stock or shares of any
other capital stock or other securities of the Company, (ii) no Person has any preemptive rights, resale rights, rights of
first refusal, rights of co-sale or any other rights (whether pursuant to a “poison pill” provision or otherwise) to
purchase any Common Stock or shares of any other capital stock or other securities of the Company, (iii)  no Person has the
right to act as an underwriter or as a financial advisor to the Company in connection with the offer and sale of the Placement
Shares, and (iv) no Person has the right, contractual or otherwise, to require the Company to register under the Securities
Act any Common Stock or shares of any other capital stock or other securities of the Company, or to include any such shares or
other securities in the Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness
of the Registration Statement or the sale of the Placement Shares as contemplated thereby or otherwise.

 

(o)              
Independent Public Accounting Firm. PricewaterhouseCoopers LLP (the “Accountant”), whose
report on the financial statements of the Company is filed with the Commission as part of the Company’s most recent Annual
Report on Form 10-K filed with the Commission and incorporated by reference into the Registration Statement and the Prospectus,
are and, during the periods covered by their report, were an independent registered public accounting firm within the meaning of
the Securities Act and the Public Company Accounting Oversight Board (United States). To the Company’s knowledge the Accountant
is not in violation of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”) with respect to the Company.

 

    	 	-9-	 

     

    

(p)              
Enforceability of Agreements. All agreements between the Company and third parties expressly referenced in the Prospectus,
other than such agreements that have expired by their terms or the termination of which is disclosed in documents filed by the
Company on EDGAR, are legal, valid and binding obligations of the Company enforceable in accordance with their respective terms,
except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
laws affecting creditors’ rights generally and by general equitable principles and (ii) the indemnification provisions
of certain agreements may be limited by federal or state securities laws or public policy considerations in respect thereof, except
for any unenforceability that, individually or in the aggregate, would not have a Material Adverse Effect.

 

(q)              
No Litigation. Except as set forth in the Registration Statement or the Prospectus, there are no legal, governmental
or regulatory actions, suits or proceedings pending, nor, to the Company’s knowledge, any legal, governmental or regulatory
audits or investigations, to which the Company or a Subsidiary is a party or to which any property of the Company or any of its
Subsidiaries is the subject that, individually or in the aggregate, if determined adversely to the Company or any of its Subsidiaries,
would have a Material Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under
this Agreement; to the Company’s knowledge, no such actions, suits or proceedings are threatened or contemplated by any legal,
governmental or regulatory authority or threatened by others that, individually or in the aggregate, would have a Material Adverse
Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement; and (i) there
are no current or pending legal, governmental or regulatory audits or investigations, actions, suits or proceedings that are required
under the Securities Act to be described in the Prospectus that are not so described; and (ii) there are no contracts or other
documents that are required under the Securities Act to be filed as exhibits to the Registration Statement that are not so filed.

 

(r)                
Consents and Permits. Except as disclosed in the Registration Statement and the Prospectus, the Company and its Subsidiaries
have made all filings, applications and submissions required by, possesses and is operating in compliance with, all approvals,
licenses, certificates, certifications, clearances, consents, grants, exemptions, marks, notifications, orders, permits and other
authorizations issued by, the appropriate federal, state or foreign governmental or regulatory authorities (including, without
limitation, the United States Food and Drug Administration (the “FDA”), the United States Drug Enforcement
Administration or any other foreign, federal, state, provincial, court or local government or regulatory authorities including
self-regulatory organizations engaged in the regulation of clinical trials, pharmaceuticals, biologics or biohazardous substances
or materials) necessary for the ownership or lease of their respective properties or to conduct its businesses as described in
the Registration Statement and the Prospectus (collectively, “Permits”), except for such Permits the
failure of which to possess, obtain or make the same would not have a Material Adverse Effect; the Company and its Subsidiaries
are in compliance with the terms and conditions of all such Permits, except where the failure to be in compliance would not have
a Material Adverse Effect; all of the Permits are valid and in full force and effect, except where any invalidity, individually
or in the aggregate, would not be reasonably expected to have a Material Adverse Effect; and neither the Company nor any of its
Subsidiaries has received any written notice of proceedings relating to the limitation, revocation, cancellation, suspension, modification
or non-renewal of any such Permit which, individually or in the aggregate, if the subject of an unfavorable decision, ruling or
finding, would be reasonably expected to have a Material Adverse Effect, or has any reason to believe that any such license, certificate,
permit or authorization will not be renewed in the ordinary course to the extent required. To the extent required by applicable
laws and regulations of the FDA, the Company or the applicable Subsidiary has submitted to the FDA an Investigational New Drug
Application or amendment or supplement thereto for each clinical trial it has conducted or sponsored or is conducting or sponsoring;
all such submissions were in material compliance with applicable laws and rules and regulations when submitted and no material
deficiencies have been asserted by the FDA with respect to any such submissions.

 

    	 	-10-	 

     

    

(s)               
Regulatory Filings. Except as disclosed in the Registration Statement and the Prospectus, neither the Company nor
any of its Subsidiaries has failed to file with the applicable regulatory authorities (including, without limitation, the FDA,
or any foreign, federal, state, provincial or local governmental or regulatory authority performing functions similar to those
performed by the FDA) any required filing, declaration, listing, registration, report or submission, except for such failures that,
individually or in the aggregate, would not have a Material Adverse Effect; except as disclosed in the Registration Statement and
the Prospectus, all such filings, declarations, listings, registrations, reports or submissions were in compliance with applicable
laws when filed and no deficiencies have been asserted by any applicable regulatory authority with respect to any such filings,
declarations, listings, registrations, reports or submissions, except for any deficiencies that, individually or in the aggregate,
would not have a Material Adverse Effect. The Company has operated and currently is, in all material respects, in compliance with
the United States Federal Food, Drug, and Cosmetic Act, all applicable rules and regulations of the FDA and other federal, state,
local and foreign governmental bodies exercising comparable authority. The Company has no knowledge of any studies, tests or trials
not described in the Prospectus the results of which reasonably call into question in any material respect the results of the studies,
tests and trials described in the Prospectus.

 

(t)                
Intellectual Property. Except as disclosed in the Registration Statement and the Prospectus, the Company and its
Subsidiaries own, possess, license or have other rights to use all foreign and domestic patents, patent applications, trade and
service marks, trade and service mark registrations, trade names, copyrights, licenses, inventions, trade secrets, technology,
Internet domain names, know-how and other intellectual property (collectively, the “Intellectual Property”),
necessary for the conduct of their respective businesses as now conducted except to the extent that the failure to own, possess,
license or otherwise hold adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a
Material Adverse Effect. Except as disclosed in the Registration Statement and the Prospectus (i) there are no rights of third
parties to any such Intellectual Property owned by the Company and its Subsidiaries; (ii) to the Company’s knowledge, there
is no infringement by third parties of any such Intellectual Property; (iii) there is no pending or, to the Company’s knowledge,
threatened action, suit, proceeding or claim by others challenging the Company’s and its Subsidiaries’ rights in or
to any such Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis for any such action,
suit, proceeding or claim; (iv) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or
claim by others challenging the validity or scope of any such Intellectual Property; (v) there is no pending or, to the Company’s
knowledge, threatened action, suit, proceeding or claim by others that the Company and its Subsidiaries infringe or otherwise violate
any patent, trademark, copyright, trade secret or other proprietary rights of others; (vi) to the Company’s knowledge, there
is no third-party U.S. patent or published U.S. patent application which contains claims for which an Interference Proceeding (as
defined in 35 U.S.C. § 135) has been commenced against any patent or patent application described in the Prospectus as being
owned by or licensed to the Company; and (vii) the Company and its Subsidiaries have complied with the terms of each agreement
pursuant to which Intellectual Property has been licensed to the Company or such Subsidiary, and all such agreements are in full
force and effect, except, in the case of any of clauses (i)-(vii) above, for any such infringement by third parties or any such
pending or threatened suit, action, proceeding or claim as would not, individually or in the aggregate, reasonably be expected
to result in a Material Adverse Effect, and except, in the case of clause (vii) above, for any non-compliance as would not, individually
or in the aggregate, reasonably be expected to result in a Material Adverse Effect.

 

    	 	-11-	 

     

    

(u)              
Clinical Studies. To the Company’s knowledge, the preclinical studies and tests and clinical trials conducted
or sponsored by the Company and described in the Prospectus were, and, if still pending, are being, conducted in all material respects
in accordance with the experimental protocols, procedures and controls pursuant to, where applicable, accepted professional and
scientific standards for products or product candidates comparable to those being developed by the Company; the descriptions of
such studies, tests and trials, and the results thereof, contained in the Prospectus are accurate and complete in all material
respects; the Company is not aware of any tests, studies or trials not described in the Prospectus, the results of which reasonably
call into question the results of the tests, studies and trials described in the Prospectus; and the Company has not received any
written notice or correspondence from the FDA or any foreign, state or local governmental body exercising comparable authority
or any institutional review board or comparable authority requiring the termination, suspension, clinical hold or material modification
of any tests, studies or trials.

 

(v)              
Market Capitalization. At the time the Registration Statement was or will be originally declared effective, and at
the time the Company’s most recent Annual Report on Form 10-K was filed with the Commission, the Company met or will
meet the then applicable requirements for the use of Form S-3 under the Securities Act, including, but not limited to, General
Instruction I.B.1 of Form S-3. The aggregate market value of the outstanding voting and non-voting common equity (pursuant
to Securities Act Rule 144) of the Company held by persons other than affiliates of the Company (as defined in Securities Act Rule
405, those that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under common
control with, the Company)  (the “Non-Affiliate Shares”), was equal to or greater than $75 million
(calculated by multiplying (x) the highest price at which the common equity of the Company was last sold on the Exchange within
60 days of the date of the filing of the Registration Statement times (y) the number of Non-Affiliate Shares). The Company is not
a shell company (as defined in Rule 405 under the Securities Act) and has not been a shell company for at least 12 calendar months
previously and if it has been a shell company at any time previously, has filed current Form 10 information (as defined in Instruction
I.B.6 of Form S-3) with the Commission at least 12 calendar months previously reflecting its status as an entity that is not a
shell company.

 

    	 	-12-	 

     

    

(w)            
No Material Defaults. Neither the Company nor any of the Subsidiaries has defaulted on any installment on indebtedness
for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably
be expected to have a Material Adverse Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange
Act since the filing of its last Annual Report on Form 10-K, indicating that it (i) has failed to pay any dividend or sinking
fund installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any
rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have
a Material Adverse Effect.

 

(x)              
Certain Market Activities. Neither the Company, nor any of the Subsidiaries, nor any of their respective directors,
officers or controlling persons has taken, directly or indirectly, any action designed, or that has constituted or might reasonably
be expected to cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any security
of the Company to facilitate the sale or resale of the Placement Shares.

 

(y)              
Broker/Dealer Relationships. Neither the Company nor any of the Subsidiaries or any related entities (i) is
required to register as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or
(ii) directly or indirectly through one or more intermediaries, controls or is a “person associated with a member”
or “associated person of a member” (within the meaning set forth in the FINRA Manual).

 

(z)               
No Reliance. The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or accounting
advice in connection with the offering and sale of the Placement Shares.

 

(aa)           
Taxes. The Company and each of its Subsidiaries have filed all federal, state, local and foreign income and franchise
tax returns and other material tax returns which have been required to be filed by the Company or a Subsidiary, or have properly
requested extensions thereof, and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become
due and are not being contested in good faith, except where the failure to so file or pay would not reasonably be expected to have
a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus, no
tax deficiency has been determined adversely to the Company or any of its Subsidiaries which has had, or would reasonably be expected
to have, individually or in the aggregate, a Material Adverse Effect. The Company has no knowledge of any federal, state or other
governmental tax deficiency, penalty or assessment which has been or might be asserted against it which would not reasonably be
expected to have a Material Adverse Effect.

 

(bb)          
Title to Real and Personal Property. Except as set forth in the Registration Statement or the Prospectus, the Company
and its Subsidiaries have good and marketable title to all real property owned by them, good and valid title to all tangible personal
property described in the Registration Statement or the Prospectus as being owned by them that are material to the businesses of
the Company or such Subsidiary, in each case free and clear of all liens, encumbrances and claims, except those that (i) do not
materially interfere with the use made and proposed to be made of such property by the Company and any of its Subsidiaries or (ii)
would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. Any real or tangible personal
property described in the Registration Statement or Prospectus as being leased by the Company and any of its Subsidiaries is held
by them under valid, existing and enforceable leases, except those that (A) do not materially interfere with the use made or proposed
to be made of such property by the Company or any of its Subsidiaries or (B) would not be reasonably expected, individually or
in the aggregate, to have a Material Adverse Effect. Each of the properties of the Company and its Subsidiaries complies with all
applicable codes, laws and regulations (including, without limitation, building and zoning codes, laws and regulations and laws
relating to access to such properties), except if and to the extent disclosed in the Registration Statement or Prospectus or except
for such failures to comply that would not, individually or in the aggregate, reasonably be expected to interfere in any material
respect with the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise be reasonably
expected to have a Material Adverse Effect. None of the Company or its subsidiaries has received from any governmental or regulatory
authorities any notice of any condemnation of, or zoning change affecting, the properties of the Company and its Subsidiaries,
and the Company knows of no such condemnation or zoning change which is threatened, except for such that would not reasonably be
expected to interfere in any material respect with the use made and proposed to be made of such property by the Company and its
Subsidiaries or otherwise have a Material Adverse Effect, individually or in the aggregate.

 

    	 	-13-	 

     

    

(cc)           
Environmental Laws. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries
(i) are in compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and
orders relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants
or contaminants (collectively, “Environmental Laws”); (ii) have received and are in compliance with
all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses
as described in the Registration Statement and the Prospectus; and (iii) have not received notice of any actual or potential
liability for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants
or contaminants, except, in the case of any of clauses (i), (ii) or (iii) above, for any such failure to comply or failure to receive
required permits, licenses, other approvals or liability as would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

 

(dd)         
Disclosure Controls. The Company and each of its Subsidiaries maintain systems of internal accounting controls designed
to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific
authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with
generally accepted accounting principles (“GAAP”) and to maintain asset accountability; (iii) access
to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect
to any differences. The Company’s internal control over financial reporting is effective and the Company is not aware of
any material weaknesses in its internal control over financial reporting (other than as set forth in the Prospectus). Since the
date of the latest audited financial statements of the Company included in the Prospectus, there has been no change in the Company’s
internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s
internal control over financial reporting (other than as set forth in the Prospectus). The Company has established disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) for the Company and designed such disclosure controls and procedures
to provide reasonable assurance that material information relating to the Company and each of its Subsidiaries is made known to
the certifying officers by others within those entities, including during the period in which the Company’s Annual Report
on Form 10-K or Quarterly Report on Form 10-Q, as the case may be, is being prepared. The Company’s certifying officers have
evaluated the effectiveness of the Company’s controls and procedures as of a date within 90 days prior to the filing date
of the Form 10-K for the fiscal year most recently ended (such date, the “Evaluation Date”). The Company
presented in its Form 10-K for the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness
of the disclosure controls and procedures based on their evaluations as of the Evaluation Date and the disclosure controls and
procedures were effective. Since the Evaluation Date, there have been no significant changes in the Company’s internal controls
(as such term is defined in Item 307(b) of Regulation S-K under the Securities Act) or, to the Company’s knowledge, in other
factors that could significantly affect the Company’s internal controls.

 

    	 	-14-	 

     

    

(ee)           
Sarbanes-Oxley. There is and has been no failure on the part of the Company or any of the Company’s directors
or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley
Act and the rules and regulations promulgated thereunder. Each of the principal executive officer and the principal financial officer
of the Company (or each former principal executive officer of the Company and each former principal financial officer of the Company
as applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect to all reports,
schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission. For purposes
of the preceding sentence, “principal executive officer” and “principal financial officer” shall have the
meanings given to such terms in the Sarbanes-Oxley Act.

 

(ff)            
Finder’s Fees. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder’s
fees, brokerage commissions or similar payments in connection with the transactions herein contemplated, except as may otherwise
exist with respect to Agent pursuant to this Agreement.

 

(gg)          
Labor Disputes. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists
or, to the knowledge of the Company, is threatened which would result in a Material Adverse Effect.

 

(hh)          
Investment Company Act. Neither the Company nor any of the Subsidiaries is or, after giving effect to the offering
and sale of the Placement Shares, will be an “investment company” or an entity “controlled” by an “investment
company,” as such terms are defined in the Investment Company Act of 1940, as amended (the “Investment Company
Act”).

 

(ii)              
Operations. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance
with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, the money laundering statutes of all jurisdictions to which the Company or its Subsidiaries are subject, the rules
and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any
governmental agency having jurisdiction over the Company (collectively, the “Money Laundering Laws”),
except as would not result in a Material Adverse Effect; and no action, suit or proceeding by or before any court or governmental
agency, authority or body or any arbitrator involving the Company or any of its Subsidiaries with respect to the Money Laundering
Laws is pending or, to the knowledge of the Company, threatened.

 

    	 	-15-	 

     

    

(jj)              
Off-Balance Sheet Arrangements. There are no transactions, arrangements and other relationships between and/or among
the Company, and/or, to the knowledge of the Company, any of its affiliates and any unconsolidated entity, including, but not limited
to, any structural finance, special purpose or limited purpose entity (each, an “Off Balance Sheet Transaction”)
that would reasonably be expected to affect materially the Company’s liquidity or the availability of or requirements for
its capital resources, including those Off Balance Sheet Transactions described in the Commission’s Statement about Management’s
Discussion and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to
be described in the Prospectus which have not been described as required.

 

(kk)          
Underwriter Agreements. The Company is not a party to any agreement with an agent or underwriter for any other “at-the-market”
or continuous equity transaction.

 

(ll)              
ERISA. To the knowledge of the Company, (i) each material employee benefit plan, within the meaning of Section 3(3)
of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered
or contributed to by the Company or any of its affiliates for employees or former employees of the Company and any of its Subsidiaries
has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations,
including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”) (except
to the extent where any non-compliance would not result in material liability to the company); (ii) during the last six plan years,
no prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result
in a material liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or
administrative exemption; and (iii) for each such plan that is subject to the funding rules of Section 412 of the Code or Section
302 of ERISA, no “accumulated funding deficiency” as defined in Section 412 of the Code has been incurred, whether
or not waived, and the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid contributions)
exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions.

 

(mm)      
Forward Looking Statements. No forward-looking statement (within the meaning of Section 27A of the Securities Act
and Section 21E of the Exchange Act) (a “Forward Looking Statement”) contained in the Registration Statement
and the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

 

(nn)          
Agent Purchases. The Company acknowledges and agrees that the Agent has informed the Company that the Agent may,
to the extent permitted under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while
this Agreement is in effect, provided, that (i) no such purchase or sales shall take place while a Placement Notice is in
effect (except to the extent each Agent may engage in sales of Placement Shares purchased or deemed purchased from the Company
as a “riskless principal” or in a similar capacity) and (ii) the Company shall not be deemed to have authorized
or consented to any such purchases or sales by the Agent.

 

    	 	-16-	 

     

    

(oo)          
Margin Rules. Neither the issuance, sale and delivery of the Placement Shares nor the application of the proceeds
thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board
of Governors of the Federal Reserve System or any other regulation of such Board of Governors.

 

(pp)          
Insurance. The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and covering
such risks as the Company and each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and
as is customary for companies engaged in similar businesses in similar industries.

 

(qq)          
No Improper Practices. (i) Neither the Company nor, to the Company’s knowledge, the Subsidiaries, nor
to the Company’s knowledge, any of their respective executive officers has, in the past five years, made any unlawful contributions
to any candidate for any political office (or failed fully to disclose any contribution in violation of law) or made any contribution
or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other person charged
with similar public or quasi-public duty in violation of any law or of the character required to be disclosed in the Prospectus;
(ii) no relationship, direct or indirect, exists between or among the Company or, to the Company’s knowledge, any Subsidiary
or any affiliate of any of them, on the one hand, and the directors, officers and stockholders of the Company or, to the Company’s
knowledge, any Subsidiary, on the other hand, that is required by the Securities Act to be described in the Registration Statement
and the Prospectus that is not so described; (iii) no relationship, direct or indirect, exists between or among the Company
or any Subsidiary or any affiliate of them, on the one hand, and the directors, officers, or stockholders of the Company or, to
the Company’s knowledge, any Subsidiary, on the other hand, that is required by the rules of FINRA to be described in the
Registration Statement and the Prospectus that is not so described; (iv) except as described in the Prospectus, there are
no material outstanding loans or advances or material guarantees of indebtedness by the Company or, to the Company’s knowledge,
any Subsidiary to or for the benefit of any of their respective officers or directors or any of the members of the families of
any of them; (v) the Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent
to influence unlawfully (A) a customer or supplier of the Company or any Subsidiary to alter the customer’s or supplier’s
level or type of business with the Company or any Subsidiary or (B) a trade journalist or publication to write or publish
favorable information about the Company or any Subsidiary or any of their respective products or services, and (vi) neither the
Company nor any Subsidiary nor, to the Company’s knowledge, any employee or agent of the Company or any Subsidiary has made
any payment of funds of the Company or any Subsidiary or received or retained any funds in violation of any law, rule or regulation
(including, without limitation, the Foreign Corrupt Practices Act of 1977), which payment, receipt or retention of funds is of
a character required to be disclosed in the Registration Statement or the Prospectus.

 

(rr)             
Status Under the Securities Act. The Company was not and is not an ineligible issuer as defined in Rule 405 under
the Securities Act at the times specified in Rules 164 and 433 under the Securities Act in connection with the offering of the
Placement Shares.

 

(ss)            
No Misstatement or Omission in an Issuer Free Writing Prospectus. Each Issuer Free Writing Prospectus, as of its
issue date and as of each Applicable Time (as defined in Section 24 below), did not, does not and will not, through the
completion of the Placement for which such Issuer Free Writing Prospectus is used or deemed used, include any information that
conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including
any Incorporated Document that has not been superseded or modified. The foregoing sentence does not apply to statements in or omissions
from any Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by the Agent
specifically for use therein.

 

    	 	-17-	 

     

    

(tt)             
No Conflicts. Neither the execution of this Agreement by the Company, nor the issuance, offering or sale of the Placement
Shares, nor the consummation by the Company of any of the transactions contemplated herein, nor the compliance by the Company with
the terms and provisions hereof will conflict with, or will result in a breach of, any of the terms and provisions of, or has constituted
or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge or encumbrance
upon any property or assets of the Company pursuant to the terms of any contract or other agreement to which the Company may be
bound or to which any of the property or assets of the Company is subject, except (i) such conflicts, breaches or defaults as may
have been waived and (ii) such conflicts, breaches and defaults that would not reasonably be expected to have a Material Adverse
Effect; nor will such action result (x) in any violation of the provisions of the organizational or governing documents of the
Company, or (y) in any material violation of the provisions of any statute or any order, rule or regulation applicable to the Company
or of any court or of any federal, state or other regulatory authority or other government body having jurisdiction over the Company,
other than, with respect to clause (y) only, any violation that would not reasonably be expected to have a Material Adverse Effect.

 

(uu)          
 Sanctions. (i) The Company represents that, neither the Company nor any of its Subsidiaries (collectively,
the “Entity”) or, to the Entity’s knowledge, any director, officer, employee, agent, affiliate
or representative of the Entity, is a government, individual, or entity (in this paragraph (uu), “Person”)
that is, or is owned or controlled by a Person that is:

 

(A)  the subject of any applicable
sanctions administered or enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control, the United Nations
Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”),
nor

 

(B)  located, organized or
resident in a country or territory that is the subject of Sanctions administered by the U.S. Department of Treasury’s Office
of Foreign Assets Control or other relevant sanctions authority (including, without limitation, Burma/Myanmar, Cuba, Iran, North
Korea, Sudan and Syria).

 

(ii)  The Entity represents
and covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute or otherwise make
available such proceeds to any subsidiary, joint venture partner or other Person:

 

(A)  to fund or facilitate
any activities or business of or with any Person or in any country or territory that, at the time of such funding or facilitation,
is the subject of Sanctions; or

 

    	 	-18-	 

     

    

(B)  in any other manner that
will result in a violation of Sanctions by any Person (including any Person participating in the offering, whether as underwriter,
advisor, investor or otherwise).

 

(iii)  The Entity represents
and covenants that, except as detailed in the Registration Statement and the Prospectus, for the past five (5) years, it has not
knowingly engaged in, is not now knowingly engaged in, and will not engage in, any dealings or transactions with any Person, or
in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions.

 

(vv)          
Stock Transfer Taxes. On each Settlement Date, all stock transfer or other taxes (other than income taxes) which
are required to be paid in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will
have been, fully paid or provided for by the Company and all laws imposing such taxes will be or will have been fully complied
with.

 

(ww)      
Compliance with Laws. Each of the Company and its Subsidiaries: (A) is and at all times has been in compliance in
all material respects with all statutes, rules, or regulations applicable to the ownership, testing, development, manufacture,
packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage, import, export or disposal
of any product manufactured or distributed by the Company or its Subsidiaries (“Applicable Laws”), except
as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect; (B) has not received
any FDA Form 483, notice of adverse finding, warning letter, untitled letter or other correspondence or notice from the FDA or
any other Governmental Authority alleging or asserting noncompliance with any Applicable Laws or any licenses, certificates, approvals,
clearances, authorizations, permits and supplements or amendments thereto required by any such Applicable Laws (“Authorizations”);
(C) possesses all material Authorizations and such Authorizations are valid and in full force and effect and are not in material
violation of any term of any such Authorizations; (D) has not received notice of any claim, action, suit, proceeding, hearing,
enforcement, investigation, arbitration or other action from any Governmental Authority or third party alleging that any product
operation or activity is in violation of any Applicable Laws or Authorizations and has no knowledge that any such Governmental
Authority or third party is considering any such claim, litigation, arbitration, action, suit, investigation or proceeding; (E)
has not received notice that any Governmental Authority has taken, is taking or intends to take action to limit, suspend, modify
or revoke any Authorizations and has no knowledge that any such Governmental Authority is considering such action; (F) has filed,
obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims, submissions and
supplements or amendments as required by any Applicable Laws or Authorizations and that all such reports, documents, forms, notices,
applications, records, claims, submissions and supplements or amendments were complete and correct on the date filed (or were corrected
or supplemented by a subsequent submission), except as could not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect; and (G) has not, either voluntarily or involuntarily, initiated, conducted, or issued or caused to
be initiated, conducted or issued, any recall, market withdrawal or replacement, safety alert, post-sale warning, “dear healthcare
provider” letter, or other notice or action relating to the alleged lack of safety or efficacy of any product or any alleged
product defect or violation and, to the Company’s knowledge, no third party has initiated, conducted or intends to initiate
any such notice or action. Without limiting the generality of the foregoing, neither the Company nor any of its Subsidiaries, nor,
to the knowledge of the Company, any of their respective employees, officers, directors and agents, nor any of their respective
business operations, is in violation of any applicable Health Care Laws, except where the failure to be in compliance would not,
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. For purposes of this Agreement,
“Health Care Laws” means: (i) the Federal Food, Drug, and Cosmetic Act and the regulations promulgated
thereunder, including the U.S. Prescription Drug Marketing Act of 1987, as amended, and the regulations promulgated thereunder;
(ii) all federal, state, local and all foreign health care related fraud and abuse laws, including, without limitation, the U.S.
Anti-Kickback Statute (42 U.S.C. Section 1320a-7b(b)), the U.S. Civil False Claims Act (31 U.S.C. Section 3729 et seq.), Sections
1320a-7 and 1320a-7a of Title 42 of the United States Code and the regulations promulgated pursuant to such statutes; (iii) any
criminal laws relating to health care fraud and abuse, including but not limited to 18 U.S.C. Sections 286 and 287, and the health
care fraud criminal provisions under the U.S. Health Insurance Portability and Accountability Act of 1996 (“HIPAA”);
(iv) the Standards for Privacy of Individually Identifiable Health Information, the Security Standards, the Standards for Electronic
Transactions and Code Sets promulgated under HIPAA (42 U.S.C. Section 1320d et seq.), the Health Information Technology for Economic
and Clinical Health Act (42 U.S.C. Section 17921 et seq.), and the regulations promulgated thereunder and any state or non-U.S.
counterpart thereof or other law or regulation the purpose of which is to protect the privacy of individuals or prescribers; (iv)
the U.S. Controlled Substances Act; (v) any laws or regulations that govern participation in or coverage or reimbursement from
any U.S. or state health care program, including but not limited to the federal TRICARE statute (10 U.S.C. §1071 et seq.),
the Veterans Administration drug pricing program (38 U.S.C. Section 8126), and any regulations promulgated thereunder; (vi) quality,
safety and accreditation standards and requirements of any applicable federal, state, local or foreign laws or regulatory bodies;
and (vii) any and all other applicable health care laws and regulations in any jurisdiction, as well as contractual agreements
mandated by such laws. Additionally, neither the Company nor any of its Subsidiaries, nor, to the knowledge of the Company, any
of their respective employees, officers, directors, agents or contractors has been excluded, suspended or debarred from participation
in any federal health care program or, to the knowledge of Company and its Subsidiaries, is subject to an inquiry, investigation,
proceeding, or other similar matter that could subject the Company, any of its Subsidiaries, or any of their respective employees,
officers, directors, agents or contractors to exclusion, suspension or debarment.

 

    	 	-19-	 

     

    

(xx)          
Well-Known Seasoned Issuer.  At the time the Registration Statement was or will be originally declared effective,
the Company was or will be a “well-known seasoned issuer” (as defined in Rule 405 under the Securities Act).

 

Any certificate signed by an officer of the
Company and delivered to the Agent or to counsel for the Agent pursuant to or in connection with this Agreement shall be deemed
to be a representation and warranty by the Company, as applicable, to the Agent as to the matters set forth therein.

 

7.                 
Covenants of the Company. The Company covenants and agrees with Agent that:

 

(a)               
Registration Statement Amendments. After the date of this Agreement and during any period in which a Prospectus relating
to any Placement Shares is required to be delivered by Agent under the Securities Act (including in circumstances where such requirement
may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company will notify the Agent promptly of the time
when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with
the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of any request by
the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information, (ii) the
Company will prepare and file with the Commission, promptly upon the Agent’s request, any amendments or supplements to the
Registration Statement or Prospectus that, in such Agent’s reasonable opinion, may be necessary or advisable in connection
with the distribution of the Placement Shares by the Agent (provided, however, that the failure of the Agent to make such request
shall not relieve the Company of any obligation or liability hereunder, or affect the Agent’s right to rely on the representations
and warranties made by the Company in this Agreement and provided, further, that the only remedy the Agent shall have with respect
to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is filed);
(iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating to the Placement
Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to Agent within a reasonable
period of time before the filing and the Agent has not reasonably objected in writing thereto within two (2) Business Days (provided,
however, that the failure of the Agent to make such objection shall not relieve the Company of any obligation or liability hereunder,
or affect the Agent’s right to rely on the representations and warranties made by the Company in this Agreement and the Company
has no obligation to provide the Agent any advance copy of such filing or to provide the Agent any opportunity to object to such
filing if such filing does not name the Agent and does not relate to the transactions contemplated by this Agreement, and provided,
further, that the only remedy the Agent shall have with respect to the failure by the Company to seek such consent shall be to
cease making sales under this Agreement) and the Company will furnish to the Agent at the time of filing thereof a copy of any
document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those
documents available via EDGAR; and (iv) the Company will cause each amendment or supplement to the Prospectus to be filed
with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the case of any
document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange Act, within
the time period prescribed (the determination to file or not file any amendment or supplement with the Commission under this Section
7(a), based on the Company’s reasonable opinion or reasonable objections, shall be made exclusively by the Company).

 

    	 	-20-	 

     

    

(b)              
Notice of Commission Stop Orders. The Company will advise the Agent, promptly after it receives notice or obtains
knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement, of the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction,
or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable
efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be issued. The Company
will advise the Agent promptly after it receives any request by the Commission for any amendments to the Registration Statement
or any amendment or supplements to the Prospectus or any Issuer Free Writing Prospectus or for additional information related to
the offering of the Placement Shares or for additional information related to the Registration Statement, the Prospectus or any
Issuer Free Writing Prospectus.

 

    	 	-21-	 

     

    

(c)               
Delivery of Prospectus; Subsequent Changes. During any period in which a Prospectus relating to the Placement Shares
is required to be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, (including
in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), the Company will comply
in all material respects with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file
on or before their respective due dates all reports and any definitive proxy or information statements required to be filed by
the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act.
If the Company has omitted any information from the Registration Statement pursuant to Rule 430B under the Securities Act, it will
use its best efforts to comply with the provisions of and make all requisite filings with the Commission pursuant to said Rule
430B and to notify the Agent promptly of all such filings. If during such period any event occurs as a result of which the Prospectus
as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is
necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly
notify Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the
Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect such
compliance; provided, however, that the Company may delay any such amendment or supplement if, in the reasonable judgment of the
Company, it is in the best interests of the Company to do so.

 

(d)              
Listing of Placement Shares. During any period in which the Prospectus relating to the Placement Shares is required
to be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, the Company will
use its reasonable best efforts to cause the Placement Shares to be listed on the Exchange.

 

(e)               
Delivery of Registration Statement and Prospectus. The Company will furnish to the Agent and its counsel (at the
expense of the Company) copies of the Registration Statement, the Prospectus (including all Incorporated Documents) and all amendments
and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus
relating to the Placement Shares is required to be delivered under the Securities Act (including all Incorporated Documents filed
with the Commission during such period), in each case as soon as reasonably practicable and in such quantities as the Agent may
from time to time reasonably request and, at the Agent’s request, will also furnish copies of the Prospectus to each exchange
or market on which sales of the Placement Shares may be made; provided, however, that the Company shall not be required to furnish
any document (other than the Prospectus) to the Agent to the extent such document is available on EDGAR.

 

(f)               
Earnings Statement. The Company will make generally available to its security holders as soon as practicable, but
in any event not later than 15 months after the end of the Company’s current fiscal quarter, an earnings statement covering
a 12-month period that satisfies the provisions of Section 11(a) and Rule 158 of the Securities Act.

 

(g)              
Use of Proceeds. The Company will use the Net Proceeds as described in the Prospectus in the section entitled “Use
of Proceeds.”

 

    	 	-22-	 

     

    

(h)              
Notice of Other Sales. Without the prior written consent of Agent, the Company will not, directly or indirectly,
offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement
Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights
to purchase or acquire, Common Stock during the period beginning on the fifth (5th) Trading Day immediately prior to the date on
which any Placement Notice is delivered to Agent hereunder and ending on the fifth (5th) Trading Day immediately following the
final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has
been terminated or suspended prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension
or termination); and will not directly or indirectly in any other “at-the-market” or continuous equity transaction
offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement
Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights
to purchase or acquire, Common Stock prior to the later of the termination of this Agreement and the sixtieth (60th) day immediately
following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice; provided, however,
that such restrictions will not apply in connection with the Company’s issuance or sale of (i) Common Stock, options
to purchase Common Stock or restricted stock units or stock awards or Common Stock issuable upon the exercise or vesting of options
or other equity awards, pursuant to any employee, consultant or director stock option or benefits plan, stock ownership plan or
dividend reinvestment plan (but not Common Stock subject to a waiver to exceed plan limits in its dividend reinvestment plan) of
the Company whether now in effect or hereafter implemented, (ii) Common Stock issuable upon conversion of securities or the
exercise or vesting of warrants, options or other rights in effect or outstanding, and disclosed in filings by the Company available
on EDGAR or otherwise in writing to the Agent and (iii) Common Stock or securities convertible into or exchangeable for shares
of Common Stock as consideration for mergers, acquisitions, other business combinations or strategic alliances, or offered and
sold in privately negotiated transactions with vendors, customers, investors, strategic partners or potential strategic partners,
occurring after the date of this Agreement which are not issued for capital raising purposes and conducted in a manner so as not
to be integrated with the offering of Placement Shares hereby.

 

(i)                
Change of Circumstances. The Company will, at any time during the pendency of a Placement Notice, advise the Agent
promptly after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect
in any material respect any opinion, certificate, letter or other document required to be provided to the Agent pursuant to this
Agreement.

 

(j)                
Due Diligence Cooperation. The Company will cooperate with any reasonable due diligence review conducted by the Agent
or its representatives in connection with the transactions contemplated hereby, including, without limitation, providing information
and making available documents and senior corporate officers, during regular business hours and at the Company’s principal
offices, as the Agent may reasonably request.

 

(k)              
Required Filings Relating to Placement of Placement Shares. To the extent that the filing of a prospectus supplement
with the Commission with respect to a placement of Placement Shares becomes required under Rule 424(b) under the Securities Act,
the Company agrees that on such dates as the Securities Act shall require, the Company will (i) file a prospectus supplement
with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing date under Rule
424(b), a “Filing Date”), which prospectus supplement will set forth, within the relevant period, the amount
of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the
Agent with respect to such Placement Shares, and (ii) deliver such number of copies of each such prospectus supplement to
each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market.

 

    	 	-23-	 

     

    

(l)                
Representation Dates; Certificates. (1) On or prior to the date of the first Placement Notice and (2) following delivery
of the first Placement Notice each time during the term of this Agreement that the Company:

 

(i) files the Prospectus relating to
the Placement Shares or amends or supplements (other than a prospectus supplement relating solely to an offering of securities
other than the Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective
amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration Statement or
the Prospectus relating to the Placement Shares;

 

(ii) files an annual report on Form
10-K under the Exchange Act (including any Form 10-K/A containing restated financial statements or a material amendment to the
previously filed Form 10-K);

 

(iii) files its quarterly reports on
Form 10-Q under the Exchange Act; or

 

(iv) files a current report on Form
8-K containing amended financial information (other than information “furnished” pursuant to Items 2.02 or 7.01 of
Form 8-K or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to the reclassification of certain properties
as discontinued operations in accordance with Statement of Financial Accounting Standards No. 144) under the Exchange Act (each
date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a “Representation Date”);

 

the Company shall furnish the Agent (but in the
case of clause (iv) above only if the Agent reasonably determines that the information contained in such Form 8-K is material)
with the certificates, in the forms attached hereto as Exhibit 7(l)(1) and 7(l)(2). The requirement to provide the certificates
under this Section 7(l) shall be waived for any Representation Date occurring at a time at which no Placement Notice is pending,
which waiver shall continue until the earlier to occur of the date the Company delivers instructions for the sale of Placement
Shares hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation
Date. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date
when the Company relied on such waiver and did not provide the Agent with the certificates under this Section 7(l), then before
the Company delivers the instructions for the sale of Placement Shares or the Agent sells any Placement Shares pursuant to such
instructions, the Company shall provide the Agent with the certificates in conformity with this Section 7(l) dated as of the date
that the instructions for the sale of Placement Shares are issued.

 

    	 	-24-	 

     

    

(m)            
Legal Opinions. (1) On or prior to the date of the first Placement Notice and (2) unless waived by the Agent,
the Company shall, within five (5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver
certificates in the form attached hereto as Exhibit 7(l)(1) and 7(l)(2) for which no waiver is applicable and excluding the date
of this Agreement, cause to be furnished to the Agent (A) a written opinion and negative assurance letter of Cooley LLP, or
other counsel satisfactory to the Agent (“Company Counsel”), and (B) a written opinion of Morrison
& Foerster LLP, or other counsel satisfactory to the Agent (“IP Counsel”), in each case in form and
substance satisfactory to Agent and its counsel, respectively, modified, as necessary, to relate to the Registration Statement
and the Prospectus as then amended or supplemented; provided, however, the Company shall be required to furnish to Agent no more
than one opinion and negative assurance letter from Company Counsel and no more than one opinion from the IP Counsel hereunder
per calendar quarter and the Company shall not be required to furnish any such opinions or negative assurance letter if the Company
does not intend to deliver a Placement Notice in such calendar quarter until such time as the Company delivers its next Placement
Notice; provided, further, that in lieu of such opinions for subsequent periodic filings under the Exchange Act, counsel may furnish
the Agent with a letter (a “Reliance Letter”) to the effect that the Agent may rely on a prior opinion
delivered under this Section 7(m) to the same extent as if it were dated the date of such letter (except that statements in
such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented as of
the date of the Reliance Letter).

 

(n)              
Comfort Letter. (1) On or prior to the date of the first Placement Notice and (2) within five (5) Trading Days of
each Representation Date with respect to which the Company is obligated to deliver certificates in the form attached hereto as
Exhibit 7(l)(1) and 7(l)(2) for which no waiver is applicable and excluding the date of this Agreement, the Company shall cause
its independent registered public accounting firm to furnish the Agent letters (the “Comfort Letters”),
dated the date the Comfort Letter is delivered, which shall meet the requirements set forth in this Section 7(n); provided, that
if requested by the Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within ten (10) Trading Days of
the date of occurrence of any material transaction or event requiring the filing of a Current Report on Form 8-K containing
material financial information, including the restatement of the Company’s financial statements. The Comfort Letter from
the Company’s independent registered public accounting firm shall be in a form and substance reasonably satisfactory to the
Agent, (i) confirming that they are an independent registered public accounting firm within the meaning of the Securities Act and
the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and
other matters ordinarily covered by accountants’ “comfort letters” to underwriters in connection with registered
public offerings (the first such letter, the “Initial Comfort Letter”) and (iii) updating the Initial
Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date
and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of
such letter.

 

(o)              
Market Activities. The Company will not, directly or indirectly, (i) take any action designed to cause or result
in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security
of the Company to facilitate the sale or resale of Common Stock or (ii) sell, bid for, or purchase Common Stock in violation
of Regulation M, or pay anyone any compensation for soliciting purchases of the Placement Shares other than the Agent. Nothing
to the contrary in this Agreement shall prohibit the Company, at any time at which a Placement Notice is not in effect, from engaging
in sales of its Common Stock through public offerings, private placements or otherwise, including through underwriters or placement
agents.

 

    	 	-25-	 

     

    

(p)              
Investment Company Act. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither
it nor any of its Subsidiaries will be or become, at any time prior to the termination of this Agreement, required to register
as an “investment company,” as such term is defined in the Investment Company Act.

 

(q)              
No Offer to Sell. Other than an Issuer Free Writing Prospectus approved in advance by the Company and the Agent in
its capacity as agent hereunder, neither the Agent nor the Company (including its agents and representatives, other than the Agent
in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule
405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an
offer to buy Placement Shares hereunder.

 

(r)                
Blue Sky and Other Qualifications.  The Company will use its commercially reasonable efforts, in cooperation
with the Agent, to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be
offered and sold, under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Agent
may designate and to maintain such qualifications and exemptions in effect for so long as required for the distribution of the
Placement Shares (but in no event for less than one year from the date of this Agreement); provided, however, that
the Company shall not be obligated to file any general consent to service of process or to qualify as a foreign corporation or
as a dealer in securities in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing
business in any jurisdiction in which it is not otherwise so subject. In each jurisdiction in which the Placement Shares have been
so qualified or exempt, the Company will file such statements and reports as may be required by the laws of such jurisdiction to
continue such qualification or exemption, as the case may be, in effect for so long as required for the distribution of the Placement
Shares (but in no event for less than one year from the date of this Agreement).

 

(s)               
Sarbanes-Oxley Act. The Company and the Subsidiaries will maintain and keep accurate books and records reflecting
their assets and maintain internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP and including
those policies and procedures that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly
reflect the transactions and dispositions of the assets of the Company, (ii) provide reasonable assurance that transactions
are recorded as necessary to permit the preparation of the Company’s financial statements in accordance with GAAP, (iii) that
receipts and expenditures of the Company are being made only in accordance with management’s and the Company’s directors’
authorization, and (iv) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition,
use or disposition of the Company’s assets that could have a material effect on its financial statements. The Company and
the Subsidiaries will maintain such controls and other procedures, including, without limitation, those required by Sections 302
and 906 of the Sarbanes-Oxley Act, and the applicable regulations thereunder that are designed to ensure that information required
to be disclosed by the Company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized
and reported, within the time periods specified in the Commission’s rules and forms, including, without limitation, controls
and procedures designed to ensure that information required to be disclosed by the Company in the reports that it files or submits
under the Exchange Act is accumulated and communicated to the Company’s management, including its principal executive officer
and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required
disclosure and to ensure that material information relating to the Company or the Subsidiaries is made known to them by others
within those entities, particularly during the period in which such periodic reports are being prepared.

 

    	 	-26-	 

     

    

(t)                
Secretary’s Certificate; Further Documentation. On or prior to the date of the first Placement Notice, the
Company shall deliver to the Agent a certificate of the Secretary of the Company and attested to by an executive officer of the
Company, dated as of such date, certifying as to (i) the Certificate of Incorporation of the Company, (ii) the By-laws of the Company,
(iii) the resolutions of the Board of Directors of the Company, or a duly authorized committee of the Board of Directors, authorizing
the execution, delivery and performance of this Agreement and the issuance of the Placement Shares and (iv) the incumbency of the
officers duly authorized to execute this Agreement and the other documents contemplated by this Agreement. Within five (5) Trading
Days of each Representation Date, the Company shall have furnished to the Agent such further information, certificates and documents
as the Agent may reasonably request.

 

8.                 
Payment of Expenses. The Company will pay all expenses incident to the performance of its obligations under this
Agreement, including (i) the preparation and filing of the Registration Statement, including any fees required by the Commission,
and the printing or electronic delivery of the Prospectus as originally filed and of each amendment and supplement thereto, in
such number as the Agent shall reasonably deem necessary, (ii) the printing and delivery to the Agent of this Agreement and such
other documents as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Shares,
(iii) the preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the Agent, including
any stock or other transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance
or delivery of the Placement Shares to the Agent, (iv) the fees and disbursements of the counsel, accountants and other advisors
to the Company, (v) the out-of-pocket expenses of the Agent (including, without limitation, the fees and disbursements of
the counsel to the Agent), payable upon the execution of this Agreement, in an amount not to exceed $50,000; (vi) the qualification
or exemption of the Placement Shares under state securities laws in accordance with the provisions of Section 7(r) hereof,
including filing fees, but excluding fees of the Agent’s counsel, (vii) the printing and delivery to the Agent of copies
of any Permitted Issuer Free Writing Prospectus and the Prospectus and any amendments or supplements thereto in such number as
the Agent shall reasonably deem necessary, (viii) the preparation, printing and delivery to the Agent of copies of the blue
sky survey, (ix) the fees and expenses of the transfer agent and registrar for the Common Stock, (x) the filing and other
fees incident to any review by FINRA of the terms of the sale of the Placement Shares including the fees of the Agent’s counsel
(subject to the cap, set forth in clause (v) above), and (xi) the fees and expenses incurred in connection with the listing
of the Placement Shares on the Exchange.

 

9.                 
Representations and Covenants of Agent. Agent represents and warrants that it is duly registered as a broker-dealer
under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which the Placement Shares will be offered
and sold, except such states in which Agent is exempt from registration or such registration is not otherwise required. Agent shall
continue, for the term of this Agreement, to be duly registered as a broker-dealer under FINRA, the Exchange Act and the applicable
statutes and regulations of each state in which the Placement Shares will be offered and sold, except such states in which Agent
is exempt from registration or such registration is not otherwise required, during the term of this Agreement. Agent will comply
with all applicable law and regulations in connection with the Placement Shares, including but not limited to Regulation M.

 

    	 	-27-	 

     

    

10.             
Conditions to Agent’s Obligations. The obligations of the Agent hereunder with respect to a Placement will
be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the
due performance by the Company of its obligations hereunder, to the completion by the Agent of a due diligence review satisfactory
to it in its reasonable judgment, and to the continuing satisfaction (or waiver by the Agent in its sole discretion) of the following
additional conditions:

 

(a)               
Registration Statement Effective. The Registration Statement shall have become effective and shall be available for
the (i) resale of all Placement Shares issued to the Agent and not yet sold by the Agent and (ii) sale of all Placement Shares
contemplated to be issued by any Placement Notice.

 

(b)              
No Material Notices. None of the following events shall have occurred and be continuing: (i) receipt by the
Company of any request for additional information from the Commission or any other federal or state Governmental Authority during
the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or
supplements to the Registration Statement or the Prospectus if such post effective amendments or supplements have not been made
and become effective; (ii) the issuance by the Commission or any other federal or state Governmental Authority of any stop
order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt
by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of
the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv) the
occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material
document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making
of any changes in the Registration Statement, the Prospectus or material incorporated documents so that, in the case of the Registration
Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to
be stated therein or necessary to make the statements therein not misleading and so that, in the case of the Prospectus, it will
not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.

 

(c)               
No Misstatement or Material Omission. The Agent shall not have advised the Company that the Registration Statement
or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent’s reasonable
opinion is material, or omits to state a fact that in the Agent’s reasonable opinion is material and is required to be stated
therein or is necessary to make the statements therein not misleading.

 

    	 	-28-	 

     

    

(d)              
Material Changes. Except as contemplated in the Prospectus, or disclosed in the Company’s reports filed with
the Commission, there shall not have been any material adverse change in the authorized capital stock of the Company or any Material
Adverse Effect or any development that would reasonably be expected to cause a Material Adverse Effect, or a downgrading in or
withdrawal of the rating assigned to any of the Company’s securities (other than asset backed securities) by any rating organization
or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company’s
securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described
above, in the reasonable judgment of the Agent (without relieving the Company of any obligation or liability it may otherwise have),
is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and
in the manner contemplated in the Prospectus.

 

(e)               
Legal Opinions. The Agent shall have received the opinions or letters, as applicable, of Company Counsel and the
IP Counsel required to be delivered pursuant to Section 7(m) on or before the date on which such delivery of such opinions
or letters is required pursuant to Section 7(m).

 

(f)               
Comfort Letter. The Agent shall have received the Comfort Letter required to be delivered pursuant to Section 7(n)
on or before the date on which such delivery of such Comfort Letter is required pursuant to Section 7(n).

 

(g)              
Representation Certificates. The Agent shall have received the certificates required to be delivered pursuant to
Section 7(l) on or before the date on which delivery of such certificates are required pursuant to Section 7(l).

 

(h)              
No Suspension. Trading in the Common Stock shall not have been suspended on the Exchange and the Common Stock shall
not have been delisted from the Exchange.

 

(i)                
Other Materials. On each date on which the Company is required to deliver a certificate pursuant to Section 7(l),
the Company shall have furnished to the Agent such appropriate further information, certificates, letters and other documents as
the Agent may reasonably request and which are customarily furnished by an issuer of securities in connection with a securities
offering. All such certificates, letters and other documents will be in compliance with the provisions hereof.

 

(j)                
Securities Act Filings Made. All filings with the Commission with respect to the Placement Shares required by Rule
424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within
the applicable time period prescribed for such filing by Rule 424.

 

(k)              
Approval for Listing. The Placement Shares shall either have been approved for listing on the Exchange, subject only
to notice of issuance, or the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or
prior to, the issuance of any Placement Notice and the Exchange shall have reviewed such application and not provided any objections
thereto.

 

    	 	-29-	 

     

    

(l)                
FINRA. If applicable, FINRA shall have raised no objection to the terms of this offering and the amount of compensation
allowable or payable to the Agent as described in the Prospectus.

 

(m)            
No Termination Event. There shall not have occurred any event that would permit the Agent to terminate this Agreement
pursuant to Section 13(a).

 

11.             
Indemnification and Contribution.

 

(a)               
Company Indemnification. The Company agrees to indemnify and hold harmless the Agent, its partners, members, directors,
officers, employees and agents and each person, if any, who controls the Agent within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act as follows:

 

(i)                
against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of
or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any
amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary
to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material
fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or the
omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading;

 

(ii)              
against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, to the extent
of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission; provided that any such settlement is effected with the written consent of the Company, which consent
shall not unreasonably be delayed or withheld; and

 

(iii)            
against any and all expense whatsoever, as incurred (including the fees and disbursements of counsel), reasonably incurred
in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency
or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission, to the extent that any such expense is not paid under (i) or (ii) above,

 

provided, however, that this indemnity
agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or
omission or alleged untrue statement or omission made solely in reliance upon and in conformity with written information furnished
to the Company by the Agent for use in the Registration Statement (or any amendment thereto), or in any related Issuer Free Writing
Prospectus or the Prospectus (or any amendment or supplement thereto).

 

    	 	-30-	 

     

    

(b)              
Agent Indemnification. Agent agrees to indemnify and hold harmless the Company and its directors and each officer
and director of the Company who signed the Registration Statement, and each person, if any, who controls the Company within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act against any and all loss, liability, claim, damage
and expense described in the indemnity contained in Section 11(a), as incurred, but only with respect to untrue statements or omissions,
or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto) or the Prospectus (or
any amendment or supplement thereto) or any Issuer Free Writing Prospectus in reliance upon and in conformity with information
furnished to the Company in writing by the Agent expressly for use therein. The Company hereby acknowledges that the only information
that the Agent has furnished to the Company expressly for use in the Registration Statement, the Prospectus or any Issuer Free
Writing Prospectus (or any amendment or supplement thereto) are the statements set forth in the seventh and eighth paragraphs under
the caption “Plan of Distribution” in the Prospectus.

 

(c)               
Procedure. Any party that proposes to assert the right to be indemnified under this Section 11 will, promptly after
receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying
party or parties under this Section 11, notify each such indemnifying party of the commencement of such action, enclosing a copy
of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any
liability that it might have to any indemnified party otherwise than under this Section 11 and (ii) any liability that it
may have to any indemnified party under the foregoing provision of this Section 11 unless, and only to the extent that, such omission
results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any
indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate
in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the
commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume
the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying
party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified
party for any legal or other expenses except as provided below and except for the reasonable costs of investigation subsequently
incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel
in any such action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party unless
(1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the
indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other
indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or
potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying
party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified
party) or (4) the indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable
time after receiving notice of the commencement of the action, in each of which cases the reasonable fees, disbursements and other
charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or
parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable
fees, disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time
for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying
party after the indemnifying party receives a written invoice relating to the fees, disbursements and other charges in reasonable
detail. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its
written consent if such consent is required by this Section 11(c). No indemnifying party shall, without the prior written
consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim,
action or proceeding relating to the matters contemplated by this Section 11 (whether or not any indemnified party is a party thereto),
unless such settlement, compromise or consent (1) includes an unconditional release of each indemnified party from all liability
arising out of such litigation, investigation, proceeding or claim and (2) does not include a statement as to or an admission
of fault, culpability or a failure to act by or on behalf of any indemnified party.

 

    	 	-31-	 

     

    

(d)              
Contribution. In order to provide for just and equitable contribution in circumstances in which the indemnification
provided for in the foregoing paragraphs of this Section 11 is applicable in accordance with its terms but for any reason is held
to be unavailable or insufficient from the Company or the Agent, the Company and the Agent will contribute to the total losses,
claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection
with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, but after deducting any contribution
received by the Company from persons other than the Agent, such as persons who control the Company within the meaning of the Securities
Act, officers of the Company who signed the Registration Statement and directors of the Company, who also may be liable for contribution)
to which the Company and the Agent may be subject in such proportion as shall be appropriate to reflect the relative benefits received
by the Company on the one hand and the Agent on the other hand. The relative benefits received by the Company on the one hand and
the Agent on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of the Placement
Shares (before deducting expenses) received by the Company bear to the total compensation received by the Agent (before deducting
expenses) from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided by the foregoing
sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate
to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on
the one hand, and the Agent, on the other hand, with respect to the statements or omission that resulted in such loss, claim, liability,
expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering.
Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of
a material fact or omission or alleged omission to state a material fact relates to information supplied by the Company or the
Agent, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such
statement or omission. The Company and the Agent agree that it would not be just and equitable if contributions pursuant to this
Section 11(d) were to be determined by pro rata allocation or by any other method of allocation that does not take into account
the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim,
liability, expense, or damage, or action in respect thereof, referred to above in this Section 11(d) shall be deemed to include,
for the purpose of this Section 11(d), any legal or other expenses reasonably incurred by such indemnified party in connection
with investigating or defending any such action or claim to the extent consistent with Section 11(c) hereof. Notwithstanding the
foregoing provisions of this Section 11(d), the Agent shall not be required to contribute any amount in excess of the commissions
received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation.
For purposes of this Section 11(d), any person who controls a party to this Agreement within the meaning of the Securities Act,
and any officers, directors, partners, employees or agents of the Agent, will have the same rights to contribution as that party,
and each officer and director of the Company who signed the Registration Statement will have the same rights to contribution as
the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice
of commencement of any action against such party in respect of which a claim for contribution may be made under this Section 11(d),
will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that
party or parties from whom contribution may be sought from any other obligation it or they may have under this Section 11(d) except
to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party
from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of Section 11(c) hereof, no
party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is
required pursuant to Section 11(c) hereof.

 

    	 	-32-	 

     

    

12.             
Representations and Agreements to Survive Delivery. The indemnity and contribution agreements contained in Section
11 of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto
shall survive, as of their respective dates, regardless of (i) any investigation made by or on behalf of the Agent, any controlling
persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance
of the Placement Shares and payment therefor or (iii) any termination of this Agreement.

 

13.             
Termination.

 

(a)               
The Agent may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1) if there
has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any
change, or any development or event involving a prospective change, in the condition, financial or otherwise, or in the business,
properties, earnings, results of operations or prospects of the Company and its Subsidiaries considered as one enterprise, whether
or not arising in the ordinary course of business, which individually or in the aggregate, in the sole judgment of the Agent is
material and adverse and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale
of the Placement Shares, (2) if there has occurred any material adverse change in the financial markets in the United States
or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change
or development involving a prospective change in national or international political, financial or economic conditions, in each
case the effect of which is such as to make it, in the judgment of the Agent, impracticable or inadvisable to market the Placement
Shares or to enforce contracts for the sale of the Placement Shares, (3) if trading in the Common Stock has been suspended
or limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum
prices for trading have been fixed on the Exchange, (4) if any suspension of trading of any securities of the Company on any exchange
or in the over-the-counter market shall have occurred and be continuing, (5) if a major disruption of securities settlements or
clearance services in the United States shall have occurred and be continuing, or (6) if a banking moratorium has been declared
by either U.S. Federal or New York authorities. Any such termination shall be without liability of any party to any other party
except that the provisions of Section 8 (Payment of Expenses), Section 11 (Indemnification and Contribution), Section 12 (Representations
and Agreements to Survive Delivery), Section 18 (Governing Law and Time; Waiver of Jury Trial) and Section 19 (Consent to Jurisdiction)
hereof shall remain in full force and effect notwithstanding such termination. If the Agent elects to terminate this Agreement
as provided in this Section 13(a), the Agent shall provide the required notice as specified in Section 14 (Notices).

 

    	 	-33-	 

     

    

(b)              
The Company shall have the right, by giving five (5) days’ notice as hereinafter specified to terminate this Agreement
in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of Section 8, Section 11, Section 12, Section 18, Section 19 and Section 20
hereof shall remain in full force and effect notwithstanding such termination.

 

(c)               
The Agent shall have the right, by giving ten (10) days’ notice as hereinafter specified to terminate this Agreement
in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of Section 8, Section 11, Section 12, Section 18 and Section 19 hereof shall remain
in full force and effect notwithstanding such termination.

 

(d)              
This Agreement shall remain in full force and effect unless terminated pursuant to Sections 13(a), (b), or (c) above or
otherwise by mutual agreement of the parties; provided, however, that any such termination by mutual agreement shall in all cases
be deemed to provide that Section 8, Section 11, Section 12, Section 18 and Section 19 shall remain in full force and effect.

 

(e)               
Any termination of this Agreement shall be effective on the date specified in such notice of termination; provided, however,
that such termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or
the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares,
such Placement Shares shall settle in accordance with the provisions of this Agreement.

 

14.             
Notices. All notices or other communications required or permitted to be given by any party to any other party pursuant
to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to:

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, NY 10022

Attention: Capital
Markets/Jeffrey Lumby

Facsimile: (212) 307-3730

 

with copies to

 

Cantor Fitzgerald & Co.

499 Park Avenue

New York, NY 10022

Attention: General Counsel

Facsimile: (212) 829-4708

 

    	 	-34-	 

     

    

and with a copy to:

 

Latham & Watkins LLP

12670 High Bluff Drive

San Diego, CA 92130

Attention: Cheston J. Larson, Esq.

Facsimile: (858) 523-5450

 

and if to the Company, shall be delivered
to:

 

Cytokinetics, Incorporated

280 East Grand Avenue

South San Francisco, CA 94080

Attention: Chief Financial Officer

Facsimile: (650) 624-1133

Copy to: General Counsel

with a copy to:

 

Cooley LLP

3175 Hanover Street

Palo Alto, CA 94304

Attn: Michael E. Tenta, Esq.

Fax: (650) 849-7400

 

Each party to this Agreement may change such
address for notices by sending to the parties to this Agreement written notice of a new address for such purpose. Each such notice
or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an
original to follow) on or before 4:30 p.m., New York City time, on a Business Day or, if such day is not a Business Day, on
the next succeeding Business Day, (ii) by Electronic Notice as set forth in the next paragraph, (iii) on the next Business
Day after timely delivery to a nationally-recognized overnight courier or (iv) on the Business Day actually received if deposited
in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, “Business
Day” shall mean any day on which the Exchange and commercial banks in the City of New York are open for business.

 

An electronic communication (“Electronic
Notice”) shall be deemed written notice for purposes of this Section 14 if sent to the electronic mail address specified
by the receiving party under separate cover. Electronic Notice shall be deemed received at the time the party sending Electronic
Notice receives verification of receipt by the receiving party. Any party receiving Electronic Notice may request and shall be
entitled to receive the notice on paper, in a nonelectronic form (“Nonelectronic Notice”) which shall
be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.

 

    	 	-35-	 

     

    

15.             
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and the Agent
and their respective successors and the affiliates, controlling persons, officers and directors referred to in Section 11 hereof.
References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of
such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or
their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement,
except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without
the prior written consent of the other party; provided, however, that the Agent may assign its rights and obligations hereunder
to an affiliate, so long as such affiliate is a registered broker-dealer, thereof without obtaining the Company’s consent.

 

16.             
Adjustments for Stock Splits. The parties acknowledge and agree that all share-related numbers contained in this
Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the
Placement Shares.

 

17.             
Entire Agreement; Amendment; Severability; Waiver. This Agreement (including all schedules and exhibits attached
hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous
agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither
this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent.
In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid,
illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect
to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall
be construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that
giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of
the parties as reflected in this Agreement. No implied waiver by a party shall arise in the absence of a waiver in writing signed
by such party. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power,
or privilege hereunder.

 

18.             
GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK
CITY TIME. THE COMPANY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

19.             
CONSENT TO JURISDICTION. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND
FEDERAL COURTS SITTING IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION
WITH ANY TRANSACTION CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING,
ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT
IN AN INCONVENIENT FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES
PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF
(CERTIFIED OR REGISTERED MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT
AND AGREES THAT SUCH SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN
SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.

 

    	 	-36-	 

     

    

20.             
Use of Information.The Agent may not provide any information gained in connection with this Agreement and the
transactions contemplated by this Agreement, including due diligence, to any third party other than its legal counsel advising
it on this Agreement unless expressly approved by the Company in writing.

 

21.             
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other
may be made by facsimile electronic transmission.

 

22.             
Construction. The section and exhibit headings herein are for convenience only and shall not affect the construction
hereof. References herein to any law, statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority
shall be deemed to refer to such law, statute, ordinance, code, regulation, rule or other requirement of any Governmental Authority
as amended, reenacted, supplemented or superseded in whole or in part and in effect from time to time and also to all rules and
regulations promulgated thereunder.

 

    	 	-37-	 

     

    

23.             
Permitted Free Writing Prospectuses.

 

The Company represents, warrants and agrees
that, unless it obtains the prior written consent of the Agent, which consent shall not be unreasonably withheld, conditioned or
delayed, and the Agent represents, warrants and agrees that, unless it obtains the prior written consent of the Company, which
consent shall not be unreasonably withheld, conditioned or delayed, it has not made and will not make any offer relating to the
Placement Shares that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a “free writing
prospectus,” as defined in Rule 405, required to be filed with the Commission. Any such free writing prospectus consented
to by the Agent or by the Company, as the case may be, is hereinafter referred to as a “Permitted Free Writing Prospectus.”
The Company represents and warrants that it has treated and agrees that it will treat each Permitted Free Writing Prospectus as
an “issuer free writing prospectus,” as defined in Rule 433, and has complied and will comply with the requirements
of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission where required,
legending and record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses, if any,
listed in Exhibit 23 hereto are Permitted Free Writing Prospectuses.

 

24.             
Absence of Fiduciary Relationship.

 

The Company acknowledges and agrees that:

 

(a)               
the Agent is acting solely as agent in connection with the public offering of the Placement Shares and in connection with
each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship
between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or employees or any
other party, on the one hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions
contemplated by this Agreement, irrespective of whether or not the Agent has advised or is advising the Company on other matters,
and the Agent has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations
expressly set forth in this Agreement;

 

(b)              
it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement;

 

(c)               
neither the Agent nor its affiliates have provided any legal, accounting, regulatory or tax advice with respect to the transactions
contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has
deemed appropriate;

 

(d)              
it is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve interests that
differ from those of the Company and the Agent and its affiliates have no obligation to disclose such interests and transactions
to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and

 

(e)               
it waives, to the fullest extent permitted by law, any claims it may have against the Agent or its affiliates for breach
of fiduciary duty or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement and
agrees that the Agent and its affiliates shall not have any liability (whether direct or indirect, in contract, tort or otherwise)
to it in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of
it or the Company, employees or creditors of Company, other than in respect of the Agent’s obligations under this Agreement
and to keep information provided by the Company to the Agent and the Agent's counsel confidential to the extent not otherwise publicly-available.

 

    	 	-38-	 

     

    

25.             
Definitions.

 

As used in this Agreement, the following terms
have the respective meanings set forth below:

 

“Applicable Time”
means (i) each Representation Date and (ii) the time of each sale of any Placement Shares pursuant to this Agreement.

 

“Governmental Authority”
means (i) any federal, provincial, state, local, municipal, national or international government or governmental authority, regulatory
or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court, tribunal, arbitrator
or arbitral body or (ii) any political subdivision of any of the foregoing.

 

“Issuer Free Writing Prospectus”
means any “issuer free writing prospectus,” as defined in Rule 433, relating to the Placement Shares that (1) is
required to be filed with the Commission by the Company, (2) is a “road show” that is a “written communication”
within the meaning of Rule 433(d)(8)(i) whether or not required to be filed with the Commission, or (3) is exempt from
filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Placement Shares or of the offering that does
not reflect the final terms, in each case in the form filed or required to be filed with the Commission or, if not required to
be filed, in the form retained in the Company’s records pursuant to Rule 433(g) under the Securities Act Regulations.

 

“Rule 164,” “Rule
172,” “Rule 405,” “Rule 415,” “Rule 424,”
“Rule 424(b),” “Rule 430B,” and “Rule 433”
refer to such rules under the Securities Act Regulations.

 

All references in this Agreement to financial
statements and schedules and other information that is “contained,” “included” or “stated”
in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed to mean and include all
such financial statements and schedules and other information that is incorporated by reference in the Registration Statement or
the Prospectus, as the case may be.

 

All references in this Agreement to the Registration
Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with
the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus (other than any Issuer
Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed with the Commission) shall be deemed to
include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to “supplements”
to the Prospectus shall include, without limitation, any supplements, “wrappers” or similar materials prepared in connection
with any offering, sale or private placement of any Placement Shares by the Agent outside of the United States.

 

 

 

 

 

 

 

    	 	-39-	 

     

    

[Signature Page Follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	-40-	 

     

    

If the foregoing correctly sets forth the understanding
between the Company and the Agent, please so indicate in the space provided below for that purpose, whereupon this letter shall
constitute a binding agreement between the Company and the Agent.

 

 

	 	
        Very truly yours,

         

         

        CYTOKINETICS,
        INCORPORATED

         

         

	 	 
	 	By:	/s/ Ching Jaw
	 	 	Name: Ching Jaw
	 	 	Title: Senior Vice President, Chief Financial Officer

 

 

 

 

 

	 	
        ACCEPTED as of the date first-above written:

         

         

        CANTOR FITZGERALD & CO.

         

         

	 	 
	 	By:	/s/ Jeffrey Lumby
	 	 	Name: Jeffrey Lumby
	 	 	Title: Senior Managing Director
	 	 	 

 

 

 

 

[Signature Page]

Cytokinetics, Incorporated
– Sales Agreement

     

     

    

SCHEDULE 1

 

 

 

__________________________

 

FORM OF PLACEMENT NOTICE

 

__________________________

 

 

 

 

	 	From:	Cytokinetics, Incorporated
	 	 	 
		To:	Cantor Fitzgerald & Co.

Attention: _____________________

 

Subject: Placement Notice

 

Ladies and Gentlemen:

 

Pursuant to the terms and subject to the conditions
contained in the Sales Agreement between Cytokinetics, Incorporated, a Delaware corporation (the “Company”),
and Cantor Fitzgerald & Co. (“Agent”), dated November 3, 2017, the Company hereby requests that the
Agent sell up to ____________ of the Company’s Common Stock, par value $0.001 per share, at a minimum market price of $_______
per share, during the time period beginning [month, day, time] and ending [month, day, time].

 

 

 

 

 

     

     

    

SCHEDULE 2

 

 

 

__________________________

 

Compensation

 

__________________________

 

 

 

The Company shall pay to the Agent in cash,
upon each sale of Placement Shares pursuant to this Agreement, an amount equal to 3.0% of the aggregate gross proceeds from each
sale of Placement Shares.

 

 

 

 

 

 

 

     

     

    

SCHEDULE 3

 

 

 

__________________________

 

Notice Parties

 

__________________________

 

 

 

The Company

 

Robert Blum (rblum@cytokinetics.com)

 

Ching Jaw (cjaw@cytokinetics.com)

 

The Agent

 

Jeffrey Lumby (jlumby@cantor.com)

 

Joshua Feldman (jfeldman@cantor.com)

 

Sameer Vasudev (svasudev@cantor.com)

 

With copies to:

 

CFControlledEquityOffering@cantor.com

 

 

 

 

 

     

     

    

SCHEDULE 4

 

 

 

__________________________

 

Subsidiaries

 

__________________________

 

 

 

Cytokinetics (Bermuda) Ltd.

 

 

 

 

 

 

 

 

     

     

    

EXHIBIT 7(l)(1)

 

Form of Representation Date Certificate

 

The undersigned, the duly qualified and elected                             ,
of Cytokinetics, Incorporated, a Delaware corporation (the “Company”), does hereby certify in such capacity
and on behalf of the Company, pursuant to Section 7(l) of the Sales Agreement, dated November 3, 2017 (the “Sales
Agreement”), between the Company and Cantor Fitzgerald & Co., that to the best of the knowledge of the undersigned:

 

(i) The representations and warranties of the Company in Section 6
of the Sales Agreement (A) to the extent such representations and warranties are subject to qualifications and exceptions
contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the
same force and effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak
solely as of a specific date and which were true and correct as of such date, and (B) to the extent such representations and
warranties are not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof
as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof, except
for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date;
and

 

(ii) The Company has complied with all agreements and satisfied
all conditions on its part to be performed or satisfied pursuant to the Sales Agreement at or prior to the date hereof.

 

Capitalized terms used herein without definition shall have the
meanings given to such terms in the Sales Agreement.

 

 

 

	 	
        CYTOKINETICS,
        INCORPORATED

         

         

         

	 	By: ________________________________
	 	
         

        Name: _______________________________

	 	
         

        Title: ________________________________

 

 

Date: __________________

 

 

 

 

 

 

 

 

     

     

    

EXHIBIT 7(l)(2)

 

CYTOKINETICS, INCORPORATED

 

CFO
CERTIFICATE PURSUANT TO SECTION 7(l) OF THE SALES AGREEMENT

 

[__________, 201__]

 

I, the undersigned, as the Chief Financial Officer of Cytokinetics,
Incorporated, a Delaware corporation (the “Company”), and, solely in my capacity as such, and based upon
an examination of the Company’s consolidated audited and unaudited financial records and statements undertaken by myself
or members of my staff who are responsible for the Company’s financial and accounting matters, do hereby certify that (capitalized
terms used herein without definition have the meanings ascribed to them in the Sales Agreement):

 

(a)               
I am providing this certificate in connection with the issuance and sale by the Company of shares of the Company’s
common stock having aggregate sale proceeds of up to75.0 million of Placement Shares (the “Shares”),
pursuant to the Controlled Equity Offering Sales Agreement, dated as of November 3, 2017 (the “Sales Agreement”)
between the Company and Cantor Fitzgerald & Co. (the “Agent”), as described in the Registration Statement
and Prospectus (the “Offering”).

 

(b)              
I am the duly elected, qualified and acting Chief Financial Officer of the Company and am providing this certificate based
on my examination of the internal accounting records of the Company and its subsidiaries.

 

(c)               
I am knowledgeable with respect to the internal accounting records and internal accounting practices, policies, procedures
and controls of the Company and its subsidiaries and have responsibility for financial and accounting matters with respect to the
Company and its subsidiaries.

 

(d)              
I have reviewed the financial data and information identified by the Agent in certain pages from, or incorporated by reference
into, the Registration Statement and the Prospectus, attached hereto as Annex A (the “Identified Information”)
and have compared such Identified Information to the accounting records of the Company and determined that such Identified Information
is true, correct and accurate in all material respects and that the Identified Information does not contain an untrue statement
of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading.

 

(e)               
This certificate has been prepared for the benefit of the Agent in connection with the Offering, and the Agent is entitled
to reasonably rely on this CFO Certificate for any purpose related to the Offering.

 

Latham & Watkins LLP and Cooley LLP are entitled to rely on
this certificate in connection with the respective opinions or negative assurance letters such firms are rendering pursuant to
the Sales Agreement.

 

[signature page follows]

 

     

     

    

IN WITNESS WHEREOF, I have hereunto set my hand as of the date first
written above.

 

 

___________________________

Name:

Title: Chief Financial Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

Exhibit 23

 

Permitted Free Writing Prospectus

 

None.

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