Document:

EX-10.1

 Exhibit 10.1 

[EXECUTION COPY] 
 Published
CUSIP Number: 69946EAN1 
  
  

 
 THIRD AMENDED AND RESTATED
CREDIT AGREEMENT 
 Dated as of March 11, 2016 

among 
 PAREXEL INTERNATIONAL
CORPORATION, 
 and 

CERTAIN SUBSIDIARIES 
 as
Borrowers, 
 THE SUBSIDIARY GUARANTORS PARTY HERETO, 

BANK OF AMERICA, N.A., 

as Administrative Agent, Swing Line Lender and L/C Issuer, 

and 
 THE OTHER LENDERS PARTY
HERETO 
 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, 

HSBC BANK USA, NATIONAL ASSOCIATION, 

U.S. BANK NATIONAL ASSOCIATION, 

TD SECURITIES (USA) LLC 

and 
 WELLS FARGO SECURITIES,
LLC 
 as Joint Lead Arrangers and Joint Book Managers 

HSBC BANK USA, NATIONAL ASSOCIATION, U.S. BANK NATIONAL 

ASSOCIATION, TD BANK, N.A. and WELLS FARGO BANK, NATIONAL 

ASSOCIATION 
 as Joint
Syndication Agents 
  
  

 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
			
	 ARTICLE I.
	  	DEFINITIONS AND ACCOUNTING TERMS	  	 	2	  
				
		 	 1.01.
	  	Defined Terms	  	 	2	  
				
		 	 1.02.
	  	Other Interpretive Provisions	  	 	37	  
				
		 	 1.03.
	  	Accounting Terms	  	 	38	  
				
		 	 1.04.
	  	Rounding	  	 	39	  
				
		 	 1.05.
	  	Exchange Rates; Currency Equivalents; Eurocurrency Rate	  	 	39	  
				
		 	 1.06.
	  	Additional Alternative Currencies	  	 	39	  
				
		 	 1.07.
	  	Change of Currency	  	 	40	  
				
		 	 1.08.
	  	Times of Day	  	 	41	  
				
		 	 1.09.
	  	Letter of Credit Amounts	  	 	41	  
			
	 ARTICLE II.
	  	THE COMMITMENTS AND CREDIT EXTENSIONS	  	 	41	  
				
		 	 2.01.
	  	The Loans	  	 	41	  
				
		 	 2.02.
	  	Borrowings, Conversions and Continuations of Loans	  	 	42	  
				
		 	 2.03.
	  	Letters of Credit	  	 	44	  
				
		 	 2.04.
	  	Swing Line Loans	  	 	55	  
				
		 	 2.05.
	  	Prepayments	  	 	58	  
				
		 	 2.06.
	  	Termination or Reduction of Commitments	  	 	59	  
				
		 	 2.07.
	  	Repayment of Loans	  	 	60	  
				
		 	 2.08.
	  	Interest	  	 	61	  
				
		 	 2.09.
	  	Fees	  	 	61	  
				
		 	 2.10.
	  	Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate	  	 	62	  
				
		 	 2.11.
	  	Evidence of Debt	  	 	63	  
				
		 	 2.12.
	  	Payments Generally; Administrative Agent’s Clawback	  	 	63	  
				
		 	 2.13.
	  	Sharing of Payments by Lenders	  	 	65	  
				
		 	 2.14.
	  	Cash Collateral	  	 	66	  
				
		 	 2.15.
	  	Defaulting Lenders	  	 	68	  
				
		 	 2.16.
	  	Designated Borrowers	  	 	70	  
				
		 	 2.17.
	  	Increase in Revolving Credit Facility	  	 	71	  
				
		 	 2.18.
	  	Increase in Term Facility	  	 	73	  

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
			
	 ARTICLE III.
	  	TAXES, YIELD PROTECTION AND ILLEGALITY	  	 	75	  
				
		 	3.01.	  	Taxes	  	 	75	  
				
		 	3.02.	  	Illegality	  	 	80	  
				
		 	3.03.	  	Inability to Determine Rates	  	 	81	  
				
		 	3.04.	  	Increased Costs; Reserves on Eurocurrency Rate Loans	  	 	82	  
				
		 	3.05.	  	Compensation for Losses	  	 	84	  
				
		 	3.06.	  	Mitigation Obligations; Replacement of Lenders	  	 	85	  
				
		 	3.07.	  	Survival	  	 	85	  
			
	 ARTICLE IV.
	  	CONDITIONS PRECEDENT TO Credit Extensions	  	 	86	  
				
		 	4.01.	  	Conditions of Initial Credit Extension	  	 	86	  
				
		 	4.02.	  	Conditions to all Credit Extensions	  	 	88	  
			
	 ARTICLE V.
	  	REPRESENTATIONS AND WARRANTIES	  	 	89	  
				
		 	5.01.	  	Organization; Powers	  	 	89	  
				
		 	5.02.	  	Authorization; Enforceability	  	 	89	  
				
		 	5.03.	  	Governmental Approvals; No Conflicts	  	 	90	  
				
		 	5.04.	  	Financial Statements; No Material Adverse Effect	  	 	90	  
				
		 	5.05.	  	Properties	  	 	90	  
				
		 	5.06.	  	Litigation and Environmental Matters	  	 	91	  
				
		 	5.07.	  	Compliance with Laws and Agreements; No Default	  	 	91	  
				
		 	5.08.	  	Investment Company Status	  	 	91	  
				
		 	5.09.	  	Taxes	  	 	91	  
				
		 	5.10.	  	ERISA Compliance	  	 	91	  
				
		 	5.11.	  	Disclosure	  	 	93	  
				
		 	5.12.	  	Subsidiaries	  	 	93	  
				
		 	5.13.	  	Margin Regulations	  	 	93	  
				
		 	5.14.	  	Anti-Corruption Laws	  	 	93	  
				
		 	5.15.	  	Sanctions	  	 	93	  
				
		 	5.16.	  	Representations as to Foreign Obligors	  	 	93	  
			
	 ARTICLE VI.
	  	AFFIRMATIVE COVENANTS	  	 	95	  
				
		 	6.01.	  	Financial Statements	  	 	95	  

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
				
		 	 6.02.
	  	Certificates; Other Information	  	 	95	  
				
		 	 6.03.
	  	Notices	  	 	96	  
				
		 	 6.04.
	  	Existence; Conduct of Business	  	 	97	  
				
		 	 6.05.
	  	Payment of Obligations	  	 	97	  
				
		 	 6.06.
	  	Maintenance of Properties; Insurance	  	 	97	  
				
		 	 6.07.
	  	Books and Records; Inspection Rights	  	 	98	  
				
		 	 6.08.
	  	Compliance with Laws	  	 	98	  
				
		 	 6.09.
	  	Use of Proceeds	  	 	98	  
				
		 	 6.10.
	  	Additional Subsidiaries	  	 	98	  
				
		 	 6.11.
	  	Anti-Corruption Laws	  	 	98	  
			
	 ARTICLE VII.
	  	NEGATIVE COVENANTS	  	 	99	  
				
		 	 7.01.
	  	Indebtedness	  	 	99	  
				
		 	 7.02.
	  	Liens	  	 	100	  
				
		 	 7.03.
	  	Fundamental Changes	  	 	102	  
				
		 	 7.04.
	  	Investments	  	 	103	  
				
		 	 7.05.
	  	Swap Contracts	  	 	104	  
				
		 	 7.06.
	  	Restricted Payments	  	 	104	  
				
		 	 7.07.
	  	Change in Nature of Business	  	 	104	  
				
		 	 7.08.
	  	Transactions with Affiliates	  	 	104	  
				
		 	 7.09.
	  	Burdensome Agreements	  	 	104	  
				
		 	 7.10.
	  	Use of Proceeds	  	 	105	  
				
		 	 7.11.
	  	Financial Covenants	  	 	105	  
				
		 	 7.12.
	  	Transfers from Credit Parties to Non-Credit Parties	  	 	105	  
				
		 	 7.13.
	  	Fiscal Year	  	 	106	  
				
		 	 7.14.
	  	Amendments	  	 	106	  
				
		 	 7.15.
	  	Sanctions	  	 	106	  
				
		 	 7.16.
	  	Anti-Corruption Laws	  	 	106	  
			
	 ARTICLE VIII.
	  	EVENTS OF DEFAULT AND REMEDIES	  	 	106	  
				
		 	 8.01.
	  	Events of Default	  	 	106	  
				
		 	 8.02.
	  	Remedies upon Event of Default	  	 	108	  
				
		 	 8.03.
	  	Application of Funds	  	 	109	  

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
			
	 ARTICLE IX.
	  	ADMINISTRATIVE AGENT	  	 	110	  
				
		 	 9.01.
	  	Appointment and Authority	  	 	110	  
				
		 	 9.02.
	  	Rights as a Lender	  	 	110	  
				
		 	 9.03.
	  	Exculpatory Provisions	  	 	110	  
				
		 	 9.04.
	  	Reliance by Administrative Agent	  	 	111	  
				
		 	 9.05.
	  	Delegation of Duties	  	 	112	  
				
		 	 9.06.
	  	Resignation of Administrative Agent	  	 	112	  
				
		 	 9.07.
	  	Non-Reliance on Administrative Agent and Other Lenders	  	 	114	  
				
		 	 9.08.
	  	No Other Duties, Etc	  	 	114	  
				
		 	 9.09.
	  	Administrative Agent May File Proofs of Claim	  	 	114	  
				
		 	 9.10.
	  	Collateral and Guaranty Matters	  	 	115	  
			
	 ARTICLE X.
	  	GUARANTY	  	 	116	  
				
		 	 10.01.
	  	Company Guaranty	  	 	116	  
				
		 	 10.02.
	  	Subsidiary Guaranty	  	 	119	  
			
	 ARTICLE XI.
	  	MISCELLANEOUS	  	 	122	  
				
		 	 11.01.
	  	Amendments, Etc	  	 	122	  
				
		 	 11.02.
	  	Notices; Effectiveness; Electronic Communications	  	 	124	  
				
		 	 11.03.
	  	No Waiver; Cumulative Remedies; Enforcement	  	 	127	  
				
		 	 11.04.
	  	Expenses; Indemnity; Damage Waiver	  	 	127	  
				
		 	 11.05.
	  	Payments Set Aside	  	 	129	  
				
		 	 11.06.
	  	Successors and Assigns	  	 	130	  
				
		 	 11.07.
	  	Treatment of Certain Information; Confidentiality	  	 	135	  
				
		 	 11.08.
	  	Right of Setoff	  	 	136	  
				
		 	 11.09.
	  	Interest Rate Limitation	  	 	137	  
				
		 	 11.10.
	  	Counterparts; Integration; Effectiveness	  	 	137	  
				
		 	 11.11.
	  	Survival of Representations and Warranties	  	 	137	  
				
		 	 11.12.
	  	Severability	  	 	138	  
				
		 	 11.13.
	  	Replacement of Lenders	  	 	138	  
				
		 	 11.14.
	  	Governing Law; Jurisdiction; Etc	  	 	139	  

  
 -iv- 

 TABLE OF CONTENTS 

(continued) 
  

									
	 	 	 	  	 	  	Page	 
				
		 	 11.15.
	  	Waiver of Jury Trial	  	 	140	  
				
		 	 11.16.
	  	No Advisory or Fiduciary Responsibility	  	 	141	  
				
		 	 11.17.
	  	Electronic Execution of Assignments and Certain Other Documents	  	 	141	  
				
		 	 11.18.
	  	USA PATRIOT Act	  	 	142	  
				
		 	 11.19.
	  	Judgment Currency	  	 	142	  
				
		 	 11.20.
	  	Liability for Obligations	  	 	142	  
				
		 	 11.21.
	  	Amendment and Restatement of Existing Credit Agreement	  	 	143	  
				
		 	 11.22.
	  	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	143	  
				
		 	 11.23.
	  	ENTIRE AGREEMENT	  	 	144	  

  
 -v- 

 SCHEDULES 
  

			
	1.01(p)	 	Permitted Investments
	2.01	 	Commitments and Applicable Percentages
	5.06	 	Disclosed Matters
	5.12	 	Subsidiaries
	7.01	 	Existing Indebtedness
	7.02	 	Existing Liens
	7.04	 	Existing Investments
	7.08	 	Affiliate Transactions
	7.09	 	Burdensome Agreements
	11.02	 	Administrative Agent’s Office, Certain Addresses for Notices

 EXHIBITS 
  

			
	Form of	 	
	A	 	Committed Loan Notice
	B	 	Term Note
	C	 	Revolving Credit Note
	D	 	Compliance Certificate
	E	 	Assignment and Assumption
	F	 	Swing Line Loan Notice
	G	 	Designated Borrower Request and Assumption Agreement
	H	 	Designated Borrower Notice
	I-1, 2, 3, 4	 	Tax Compliance Certificates
	J	 	Notice of Loan Prepayment

 THIRD AMENDED AND RESTATED CREDIT AGREEMENT 

This THIRD AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) is entered into as of March 11, 2016,
among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts Corporation (the “Company”), certain Subsidiaries of the Company party hereto pursuant to Section 2.16 (each a “Designated Borrower” and,
together with the Company, collectively, the “Borrowers” and, each, individually, a “Borrower”), certain Subsidiaries of the Company from time to time party hereto as Subsidiary Guarantors, each lender from time to
time party hereto (collectively, the “Lenders” and, each, individually, a “Lender”), and BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.  

PRELIMINARY STATEMENTS: 

WHEREAS, the Borrowers, certain of the Subsidiary Guarantors, certain of the Lenders and Bank of America, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer are parties to that Credit Agreement, dated as of June 30, 2011 (as amended, the “Original Credit Agreement”); 

WHEREAS, the Original Credit Agreement was amended and restated in its entirety pursuant to that certain Amended and Restated Credit
Agreement, dated as of March 22, 2013 (as amended, the “First Amended Credit Agreement”) and the First Amended Credit Agreement was amended and restated in its entirety pursuant to that certain Second Amended and Restated
Credit Agreement, dated as of October 15, 2014 (as amended and in effect immediately prior to the effectiveness of this Agreement, the “Existing Credit Agreement”), in each case, among the Borrowers party thereto, the
Subsidiary Guarantors party thereto, certain of the Lenders and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; 

WHEREAS, the Borrowers have requested that the Existing Credit Agreement be amended and restated to, among other things,
(a) extend the “Maturity Date” for the “Revolving Credit Facility” and the “Term Facility” (as each such term is defined in the Existing Credit Agreement), (b) increase the “Revolving Credit
Facility” (as defined in the Existing Credit Agreement) by an aggregate principal amount equal to $50,000,000, such that the aggregate “Revolving Credit Commitments” (as defined in the Existing Credit Agreement) is an amount equal to
$350,000,000 on the Closing Date (as hereinafter defined) and (c) increase the “Term Facility” (as defined in the Existing Credit Agreement) by an aggregate principal amount equal to $202,500,000, such that the aggregate principal
amount of the “Term Facility” (as defined in the Existing Credit Agreement) is an amount equal to $400,000,000 on the Closing Date; and 

WHEREAS, in connection with such request, the parties have agreed to amend and restate in its entirety the Existing Credit Agreement on
the terms, and subject to the conditions, set forth in this Agreement; 
 NOW, THEREFORE, in consideration of the mutual covenants
and agreements herein contained, the parties hereto covenant and agree as follows: 

 ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 

1.01. Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 

“Acquisition” means, with respect to any Person, the purchase or other acquisition (in one transaction or a series of
transactions) of (a) the assets of another Person that constitute a business unit or all or substantial part of the business of, such Person or (b) the acquisition of more than 50% of the Equity Interests with ordinary voting power of
another Person. 
 “Administrative Agent” means Bank of America in its capacity as administrative agent under the Loan
Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means, with respect to any
currency, the Administrative Agent’s address and, as appropriate, account as set forth on Schedule 11.02 with respect to such currency, or such other address or account with respect to such currency as the Administrative Agent may from
time to time notify to the Company and the Lenders. 
 “Administrative Questionnaire” means an Administrative Questionnaire
in a form from time to time supplied by the Administrative Agent. 
 “Advance Funding Arrangements” means any arrangements
requested by the Borrowers and acceptable to the Administrative Agent in its reasonable discretion for the delivery of funds by Lenders to or for the account of the Administrative Agent for safekeeping pending their delivery by the Administrative
Agent to the Borrowers on the Closing Date to fund Loans of such Lenders on such date. 
 “Advance Funding Documentation”
means such funding indemnities or other documentation as the Administrative Agent may reasonably require in connection with Advance Funding Arrangements. 

“Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent Parties” has
the meaning specified in Section 11.02(c). 
 “Aggregate Commitments” means the Commitments of all the Lenders.
As of the Closing Date, the Aggregate Commitments are $750,000,000. 
 “Agreement” means this Credit Agreement. 

“Agreement Currency” has the meaning specified in Section 11.19. 

“Alternate Interest Rate Restriction” has the meaning specified in Section 3.03. 

  
 -2- 

 “Alternative Currency” means each of Euro, Sterling and Yen and each other
currency (other than Dollars) that is approved in accordance with Section 1.06. 
 “Alternative Currency
Equivalent” means, at any time, with respect to any amount denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Administrative Agent or the L/C Issuer, as the case may be, at such
time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency with Dollars. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Loan Parties or their
respective Subsidiaries from time to time concerning or relating to bribery or corruption, including, without limitation, the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010, the Irish Prevention of Corruption Acts 1889
to 2010, the Irish Protection Disclosures Act 2014 and the Irish Proceeds of Crimes Act 1996 and 2005. 
 “Applicable Foreign
Obligor Documents” has the meaning specified in Section 5.16(a). 
 “Applicable Percentage” means
(a) in respect of the Term Facility, with respect to any Term Lender at any time, the percentage (carried out to the ninth decimal place) of the Term Facility represented by (i) on or prior to the Closing Date, such Term Lender’s
Closing Date Term Commitment at such time and (ii) thereafter, the principal amount of such Term Lender’s Term Loans (after giving effect to any Incremental Term Loans made or to be made with respect to any Incremental Term Commitment of
such Lender) at such time, and (b) in respect of the Revolving Credit Facility, with respect to any Revolving Credit Lender at any time, the percentage (carried out to the ninth decimal place) of the Revolving Credit Facility represented by
such Revolving Credit Lender’s Revolving Credit Commitment at such time, subject to adjustment as provided in Section 2.15. If the commitment of each Revolving Credit Lender to make Revolving Credit Loans and the obligation of the
L/C Issuer to make L/C Credit Extensions have been terminated pursuant to Section 8.02, or if the Revolving Credit Commitments have expired, then the Applicable Percentage of each Revolving Credit Lender in respect of the Revolving
Credit Facility shall be determined based on the Applicable Percentage of such Revolving Credit Lender in respect of the Revolving Credit Facility most recently in effect, giving effect to any subsequent assignments. The initial Applicable
Percentage of each Lender in respect of each Facility is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable. 

“Applicable Rate” means the following percentages per annum, based upon the Consolidated Net Leverage Ratio as set forth in
the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a): 
  

															
	 Pricing Level
	  	Consolidated Net Leverage
Ratio	  	Eurocurrency
Loans/Letter
of Credit Fees	 	 	Base Rate
Loans	 	 	Commitment
Fee	 
	 I
	  	< 1.50:1.00	  	 	0.75	% 	 	 	0.00	% 	 	 	0.100	% 
	 II
	  	3 1.50:1.00 but < 2.00:1.00	  	 	1.00	% 	 	 	0.00	% 	 	 	0.150	% 
	 III
	  	3 2.00:1.00 but < 2.50:1.00	  	 	1.25	% 	 	 	0.25	% 	 	 	0.175	% 
	 IV
	  	3 2.50:1.00 but < 3.00:1.00	  	 	1.50	% 	 	 	0.50	% 	 	 	0.200	% 
	 V
	  	3 3.00:1.00 but < 3.50:1.00	  	 	1.75	% 	 	 	0.75	% 	 	 	0.225	% 
	 VI
	  	3 3.50:1.00	  	 	2.00	% 	 	 	1.00	% 	 	 	0.250	% 

  
 -3- 

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Net Leverage Ratio
shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered when
due in accordance with such Section, then, upon the request of the Required Lenders, Pricing Level VI shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain
in effect until the date on which such Compliance Certificate is delivered. The Applicable Rate in effect from the Closing Date through the date on which a Compliance Certificate for the period ending September 30, 2016 is delivered (subject to
the proviso in the immediately preceding sentence) shall be determined based upon Pricing Level II. 
 Notwithstanding anything to the
contrary contained in this definition, the determination of the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b). 

“Applicable Revolving Credit Percentage” means with respect to any Revolving Credit Lender at any time, such Revolving Credit
Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time. 
 “Applicable Time” means,
with respect to any borrowings and payments in any Alternative Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Administrative Agent, or the L/C Issuer, as the case may be, to be necessary
for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment. 
 “Applicant
Borrower” has the meaning specified in Section 2.16. 
 “Appropriate Lender” means, at any time,
(a) with respect to any of the Term Facility or the Revolving Credit Facility, a Lender that has a Commitment with respect to such Facility or holds a Term Loan or a Revolving Credit Loan, respectively, at such time, and (b) with respect
to the Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if any Letters of Credit have been issued pursuant to Section 2.03(a), the Revolving Credit Lenders. 

“Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or
(c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Arrangers” means, collectively,
MLPFS, HSBC Bank USA, National Association, U.S. Bank National Association, TD Securities (USA) LLC and Wells Fargo Securities, LLC in their capacities as joint lead arrangers and joint book managers. 

“Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any party whose consent is required by 

  
 -4- 

 
Section 11.06(b)), and accepted by the Administrative Agent, in substantially the form of Exhibit E or any other form (including electronic documentation generated by use
of an electronic platform) approved by the Administrative Agent. 
 “Audited Financial Statements” means the audited
consolidated balance sheet of the Company and its Subsidiaries for the fiscal year ended June 30, 2015, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the
Company and its Subsidiaries, including the notes thereto. 
 “Availability Period” means in respect of the Revolving
Credit Facility, the period from and including the Closing Date to the earliest of (a) the Maturity Date, (b) the date of termination of the Revolving Credit Commitments pursuant to Section 2.06, and (c) the date of
termination of the commitment of each Revolving Credit Lender to make Revolving Credit Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant to Section 8.02. 

“Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in
respect of any liability of an EEA Financial Institution. 
 “Bail-In Legislation” means, with respect to any EEA Member
Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation
Schedule. 
 “Bank of America” means Bank of America, N.A. and its successors. 

“Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2
of 1%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurocurrency Rate plus 1.00%; and if Base Rate shall be less than zero,
such rate shall be deemed zero for purposes of this Agreement. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other
factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day
specified in the public announcement of such change. 
 “Base Rate Loan” means a Loan that bears interest based on the Base
Rate. All Base Rate Loans shall be denominated in Dollars. 
 “Borrower” and “Borrowers” each has the
meaning specified in the introductory paragraph hereto. 
 “Borrower Materials” has the meaning specified in
Section 6.02. 
 “Borrowing” means a Revolving Credit Borrowing, a Term Borrowing or a Swing Line Borrowing, as
the context may require. 

  
 -5- 

 “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the State of New York and: 
 (a) if such day relates
to any interest rate settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out
pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day that is also a London Banking Day; 
 (b) if
such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such Eurocurrency Rate Loan, or any other dealings in Euro to be
carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan means a TARGET Day; 
 (c) if such day relates to any
interest rate settings as to a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other
applicable offshore interbank market for such currency; and 
 (d) if such day relates to any fundings, disbursements, settlements and
payments in a currency other than Dollars or Euro in respect of a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be carried out pursuant to this
Agreement in respect of any such Eurocurrency Rate Loan (other than any interest rate settings) means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease
of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the
amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Cash Pooling
Financing” means one or more corporate treasury, depository, cash pooling, overdraft, electronic funds transfer, credit or debit card, and other cash management arrangements established by the Company or a Subsidiary in the ordinary course
of business. 
 “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the
benefit of one or more of the Administrative Agent, L/C Issuer or Swing Line Lender (as applicable) and the Lenders, as collateral for L/C Obligations, Obligations in respect of Swing Line Loans, or obligations of Lenders to fund participations in
respect of either thereof (as the context may require), cash or deposit account balances or, if the Administrative Agent or L/C Issuer or Swing Line Lender benefitting from such collateral shall agree in its sole discretion, other credit support, in
each case pursuant to documentation in form and substance 

  
 -6- 

 
satisfactory to (a) the Administrative Agent and (b) the L/C Issuer or the Swing Line Lender (as applicable). “Cash Collateral” shall have a meaning correlative to the
foregoing and shall include the proceeds of such cash collateral and other credit support. 
 “CCT” means California
Clinical Trials Medical Group, Inc., a California corporation. 
 “CCT Agreements” means collectively, (a) that
certain Management Agreement, dated as of November 15, 2006, by and between PAREXEL International, LLC and CCT, (b) that certain Stock Transfer Restriction Agreement, dated as of March 5, 2008, by and among PAREXEL International, LLC,
CCT, Lev Grigorievich Gertsik, MD and the stockholder of CCT, and (c) that certain Stock Transfer Restriction Agreement, dated as of March 5, 2008, by and among PAREXEL International, LLC, CCT Holding Company Medical Group, Inc. and Lev
Grigorievich Gertsik, MD. 
 “CCT Transactions” means the CCT Agreements, any modifications, replacements or supplements to
the CCT Agreements that are not materially adverse to the Company, and the performance of obligations of the parties under the CCT Agreements, as modified. 

“Change in Law” means the occurrence, after the date of this Agreement, of any of the following: (a) the adoption or
taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any
request, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided, however, that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer
Protection Act and all requests, rules, regulations, guidelines, interpretations or directives thereunder or issued in connection therewith (whether or not having the force of Law) and (y) all requests, rules, regulations, guidelines,
interpretations or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities (whether or not having the
force of Law), in each case pursuant to Basel III, shall, in the case of the foregoing clauses (x) and (y), be deemed to be a Change in Law regardless of the date enacted, adopted, issued, promulgated or implemented. 

“Change of Control” means an event or series of events by which: 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934,
but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined
in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire, whether such right is
exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of 35% or more of the equity securities of the Company entitled to vote for members of the board of directors or
equivalent governing body of the Company on a fully-diluted basis (and taking into account all such securities that such “person” or “group” has the right to acquire pursuant to any option right); or 

  
 -7- 

 (b) during any period of 12 consecutive months, a majority of the members of the board of
directors or other equivalent governing body of the Company cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that
board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election
or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent
governing body (such approval either by specific vote or by approval of the Company’s proxy statement). 
 “Closing
Date” means the first date all the conditions precedent in Section 4.01 are satisfied or waived in accordance with Section 11.01. 

“Closing Date Term Commitment” means, as to each Term Lender, its obligation to make new Term Loans to the Borrower
pursuant to Section 2.01(a) and to amend and restate its Existing Term Loans under the Existing Credit Agreement to be Term Loans under this Agreement on the Closing Date in an aggregate principal amount not to exceed the amount set
forth opposite such Term Lender’s name on Schedule 2.01 under the caption “Closing Date Term Commitment”. 

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

“Commitment” means a Term Commitment or a Revolving Credit Commitment, as the context may require. 

“Commitment Fee” has the meaning set forth in Section 2.09. 

“Committed Loan Notice” means a notice of (a) a Term Borrowing, (b) a Revolving Credit Borrowing, (c) a
conversion of Loans from one Type to the other, or (d) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which shall be substantially in the form of Exhibit A or such other form as may be approved by the
Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent) (provided that a Committed Loan Notice requesting only a conversion of Loans to the other Type or
a continuation of Eurocurrency Rate Loans shall not contain a reaffirmation of representations and warranties), appropriately completed and signed by a Responsible Officer of the applicable Borrower. 

“Company” has the meaning specified in the introductory paragraph hereto. 

“Company Guaranty” means the Guarantee of the Guaranteed Designated Borrower Obligations made by the Company under
Section 10.1 in favor of the Lender Parties. 
 “Compliance Certificate” means a certificate substantially in
the form of Exhibit D. 
 “Connection Income Taxes” means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. 

  
 -8- 

 “Consolidated EBITDA” means, for any period, for the Company and its
Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus the following to the extent deducted in calculating such Consolidated Net Income and without duplication: (a) Consolidated Interest
Charges for such period, (b) the provision for federal, state, local and foreign income taxes payable by the Company and its Subsidiaries for such period, (c) depreciation and amortization expense, (d) non-cash compensation charges
arising from any grant of stock, stock options or other equity-based awards for such period, and (e) employee severance and other restructuring charges in connection with the Company’s margin acceleration program in an amount not to exceed
$20 million for the fourth quarter of fiscal year 2015, $14.8 million for the first fiscal quarter of 2016, $10.4 million for the second fiscal quarter of 2016, $5 million for the third fiscal quarter of 2016 and $5 million for the fourth fiscal
quarter of 2016. 
 For purposes of determining the Consolidated Net Leverage Ratio and Consolidated Interest Coverage Ratio for any period,
in connection with any Acquisition or Disposition, there shall be (i) included in Consolidated EBITDA, all Consolidated EBITDA attributable to any Person or business acquired by the Company or any Subsidiary of the Company pursuant to an
Acquisition during such period as if such Person or business had been acquired on the day before the first day of such period and (ii) excluded from such Consolidated EBITDA, all Consolidated EBITDA attributable to any Person or business
Disposed of by the Company or any Subsidiary of the Company during such period as if such Person or business were Disposed of on the first day of such period. 

“Consolidated Funded Indebtedness” means, as of any date of determination, (a) the outstanding principal amount of all
Indebtedness of the Company and its Subsidiaries, on a consolidated basis as of such date minus (b) the Unrestricted Cash Amount as of such date. 

“Consolidated Interest Charges” means, for any period, for the Company and its Subsidiaries on a consolidated basis, the sum
of (a) all interest, premium payments, debt discount, fees, charges and related expenses of the Company and its Subsidiaries during such period in connection with borrowed money (including capitalized interest) or in connection with the
deferred purchase price of assets, in each case to the extent treated as interest in accordance with GAAP, and (b) the portion of rent expense of the Company and its Subsidiaries with respect to such period under Capitalized Leases that is
treated as interest in accordance with GAAP. 
 “Consolidated Interest Coverage Ratio” means, as of any date of
determination for any period, the ratio of (a) Consolidated EBITDA for such period to (b) Consolidated Interest Charges for such period. 

“Consolidated Net Income” means, for any period, for the Company and its Subsidiaries on a consolidated basis, the net income
of the Company and its Subsidiaries (excluding extraordinary gains and extraordinary non-cash losses) for that period. 

“Consolidated Net Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated Funded
Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters ended on such date. 

  
 -9- 

 “Contractual Obligation” means, as to any Person, any provision of any security
issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 

“Credit Party” means each of the Company, each Designated Borrower that is a Domestic Subsidiary, and each Subsidiary that is
party to a Subsidiary Guaranty. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United States, the Irish Companies
Act 2014 (as amended), the Netherlands Bankruptcy Code (Faillissementswet) and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, examinership, insolvency,
reorganization, court protection or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default. 
 “Default Rate” means (a) when used with respect to
Obligations other than Letter of Credit Fees and Swing Line Loans, an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum;
provided, however, that with respect to a Eurocurrency Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum,
(b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate applicable to Eurocurrency Rate Loans plus 2% per annum, and (c) when used with respect to Swing Line Loan, a rate equal to the rate of
interest otherwise applicable to such Swing Line Loan plus 2% per annum. 
 “Defaulting Lender” means, subject
to Section 2.15(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative
Agent and the Company in writing that such failure is the result of such Lender’s good faith determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be
specifically identified in such writing) has not been satisfied, or (ii) pay to the Administrative Agent, the L/C Issuer, the Swing Line Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of
its participation in Letters of Credit or Swing Line Loans) within two Business Days of the date when due, (b) has notified the Company, the Administrative Agent, the L/C Issuer or the Swing Line Lender in writing that it does not intend to
comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s 

  
 -10- 

 
obligation to fund a Loan hereunder and states that such position is based on such Lender’s determination that a condition precedent to funding (which condition precedent, together with any
applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Company, to confirm in writing
to the Administrative Agent and the Company that it will comply with its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such
written confirmation by the Administrative Agent and the Company), or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, (ii) had appointed for it a
receiver, custodian, conservator, trustee, administrator, examiner, assignee for the benefit of creditors or similar Person charged with reorganization, examinership or liquidation of its business or assets, including the Federal Deposit Insurance
Corporation or any other state or federal regulatory authority acting in such a capacity; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any Equity Interest in that Lender or any
direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of
judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender or (iii) become the subject of a Bail-In Action.
Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent manifest
error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.15(b)) as of the date established therefor by the Administrative Agent in a written notice of such determination, which shall be delivered by the
Administrative Agent to the Company, the L/C Issuer, the Swing Line Lender and each other Lender promptly following such determination. 

“Designated Borrower” has the meaning specified in the introductory paragraph hereto. 

“Designated Borrower Notice” has the meaning specified in Section 2.16. 

“Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject
of any Sanction. 
 “Designated Person” means a Person (a) listed in the annex to, or otherwise subject to the
provisions of, any executive order; (b) named as a “Specially Designated National and Blocked Person” (an “SDN”) on the most current list published by OFAC at its official website or any replacement website or other
replacement official publication of such list (the “SDN List”) or is otherwise the subject of any Sanctions; or (c) in which a Person on the SDN List has (directly or indirectly) 50% or greater ownership interest or that is
otherwise controlled by an SDN. 
 “Disclosed Matters” has the meaning specified in Section 5.06. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale
and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

  
 -11- 

 “Dollar” and “$” mean lawful money of the United States. 

“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and
(b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Administrative Agent, the Swing Line Lender or the L/C Issuer, as the case may be, at such time on the basis
of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of Dollars with such Alternative Currency. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United
States. 
 “Dutch FSA” means the Financial Supervision Act (Wet op het financieel toezicht) and its subordinated and
implementing decrees and regulations (as amended or restated from time to time). 
 “EEA Financial Institution” means
(a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution
described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to
consolidated supervision with its parent. 
 “EEA Member Country” means any of the member states of the European Union,
Iceland, Liechtenstein, and Norway. 
 “EEA Resolution Authority” means any public administrative authority or any person
entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 11.06(b)(iii)
and (v) (subject to such consents, if any, as may be required under Section 11.06(b)(iii)). 

“Environmental Laws” means all Laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices
or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural resources, the management, release or threatened release of any Hazardous
Material or to health and safety matters. 
 “Environmental Liability” means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Company or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any Environmental Law,
(b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or 

  
 -12- 

 
threatened release of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with
respect to any of the foregoing. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital
stock of (or other ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person,
all securities convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other
interests), and all of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are
outstanding on any date of determination. 
 “ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Company within the
meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of the Company or any
ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as
such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Company or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a
notice of intent to terminate or the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or condition
which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk plan or a plan in
endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent
under Section 4007 of ERISA, upon the Company or any ERISA Affiliate. 
 “EU Bail-In Legislation Schedule” means the
EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time 

“Euro” and “€” mean the single currency of the Participating Member States. 

“Eurocurrency Rate” means: 

(a) With respect to any Credit Extension: 

(i) denominated in a LIBOR Quoted Currency, the rate per annum equal to the London Interbank Offered Rate
(“LIBOR”) as published on the applicable Bloomberg 

  
 -13- 

 
screen page (or (x) if Bloomberg no longer publishes such rate, such other commercially available source providing such quotations as may be designated by the Administrative Agent from time
to time and (y) if such rate is not available at any time for any reason, subject to the proviso set forth below, a comparable or successor rate which rate is approved by the Administrative Agent) at approximately 11:00 a.m., London time, two
Business Days prior to the commencement of such Interest Period, for deposits in the relevant currency (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; 

(ii) with respect to a Credit Extension denominated in any Non-LIBOR Quoted Currency, the rate per annum as designated with
respect to such Alternative Currency at the time such Alternative Currency is approved by the Administrative Agent and the Lenders pursuant to Section 1.06(a) (or, in the case of any LIBOR Quoted Currency which has become a Non-LIBOR
Quoted Currency, the rate per annum as designated with respect to such Alternative Currency at the time such Alternative Currency becomes a Non-LIBOR Quoted Currency), or, if such approved rate is not available at any time for any reason, subject to
the proviso set forth below, a comparable or successor rate which rate is approved by the Administrative Agent; and 
 (b) for any rate
calculation with respect to a Base Rate Loan on any date, the rate per annum equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date for U.S. Dollar deposits with a term of one month commencing that
day; 
 provided (i) if the Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement and
(ii) that to the extent a comparable or successor rate is approved by the Administrative Agent in connection with any rate set forth in this definition, the approved rate shall be applied in a manner consistent with market practice;
provided, further that to the extent such market practice is not administratively feasible for the Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

 “Eurocurrency Rate Loan” means a Revolving Credit Loan or a Term Loan that bears interest at a rate based on clause
(a) of the definition of “Eurocurrency Rate.” Eurocurrency Rate Loans may be denominated in Dollars or in an Alternative Currency. All Loans denominated in an Alternative Currency must be Eurocurrency Rate Loans. 

“Event of Default” has the meaning specified in Section 8.01. 

“Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws
of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a
Lender, withholding Taxes imposed by the United States or the Netherlands on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which

  
 -14- 

 
(i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Company under Section 11.13) or (ii) such Lender
changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a
party hereto or to such Lender immediately before it changed its Lending Office, (c) withholding taxes imposed by Ireland which arise solely because the Lender is not a Qualifying Lender, other than where a Lender is not or has ceased to be a
Qualifying Lender as a result of any change after the date it became a Lender under this Agreement in (or in the interpretation, administration or application) any law or Tax Treaty or any concession of any relevant taxing authority, (d) Taxes
attributable to such Recipient’s failure to comply with Section 3.01(e) and (e) any U.S. federal withholding Taxes imposed pursuant to FATCA. 

“Existing Credit Agreement” has the meaning specified in the recitals hereto. 

“Existing Revolving Credit Loans” means the outstanding “Revolving Credit Loans” under and as defined in the
Existing Credit Agreement. 
 “Existing Term Loans” means the outstanding “Term Loans” under and as defined in
the Existing Credit Agreement. 
 “Facility” means the Term Facility or the Revolving Credit Facility, as the context may
require. 
 “Facility Office” means the office through which the Lender performs or will perform its obligations under this
Agreement. 
 “FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with), any current or future regulations (whether temporary or proposed) or official interpretations thereof and any agreements entered into pursuant to
Section 1471(b)(1) of the Code. 
 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted
average of the rates on overnight Federal funds transactions with members of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is
not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next
succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative
Agent. 
 “Fee Letter” means the letter agreement, dated as of February 2, 2016, as amended from time to time, among
the Company, the Administrative Agent and MLPFS. 

  
 -15- 

 “Financial Officer” means the chief financial officer, principal accounting
officer, treasurer or controller of the Company. 
 “Foreign Lender” means, with respect to any Borrower, (a) if such
Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if such Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax
purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Foreign Obligor” means a Loan Party that is a Foreign Subsidiary. 

“Foreign Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction other than the United States, a
State thereof or the District of Columbia. 
 “FRB” means the Board of Governors of the Federal Reserve System of the
United States. 
 “Fronting Exposure” means, at any time there is a Revolving Credit Lender that is a Defaulting Lender,
(a) with respect to the L/C Issuer, such Defaulting Lender’s Applicable Percentage of the outstanding L/C Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has been reallocated to
other Revolving Credit Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to the Swing Line Lender, such Defaulting Lender’s Applicable Percentage of Swing Line Loans other than Swing Line Loans as to
which such Defaulting Lender’s participation obligation has been reallocated to other Revolving Credit Lenders or Cash Collateralized in accordance with the terms hereof. 

“Fund” means any Person (other than a natural Person) that is (or will be) engaged in making, purchasing, holding or
otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP” means generally accepted accounting principles in the United States consistent with the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 

“Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state or local, any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government (including any supra-national bodies such as the European Union or the European Central Bank) and any group or body charged with setting financial accounting or regulatory capital rules or standards (including, without limitation, the
Financial Accounting Standards Board, the Bank for International Settlements or the Basel Committee on Banking Supervision or any successor or similar authority to any of the foregoing). 

  
 -16- 

 “Guarantee” means, as to any Person, (a) any obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness of another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such
Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect
of such Indebtedness the payment thereof, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to
pay such Indebtedness, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness of the payment thereof (including, without limitation, joining as an account party in respect of any letter
of credit or letter of guaranty issued to support such Indebtedness), provided that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business, or (b) any Lien on any assets of such
Person securing any Indebtedness of any other Person, whether or not such Indebtedness is assumed by such Person. The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary
obligation, or portion thereof, 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 the guaranteeing Person in good faith. The term
“Guarantee” as a verb has a corresponding meaning. 
 “Guaranteed Designated Borrower Obligations” has the
meaning specified in Section 10.01(a). 
 “Guaranties” means, collectively, the Company Guaranty and the
Subsidiary Guaranty. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or
toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any
nature regulated pursuant to any Environmental Law. 
 “Increasing Revolving Credit Lender” has the meaning specified in
Section 2.17(c). 
 “Increasing Term Lender” has the meaning specified in Section 2.18(c). 

“Incremental Term Commitment” shall mean any Increasing Term Lender’s commitment to make any Incremental Term Loans
pursuant to Section 2.18. 
 “Incremental Term Loan” shall mean, with respect to each Increasing Term Lender,
any incremental term loan made by such Increasing Term Lender pursuant to Section 2.18 in accordance with its Incremental Term Commitment. 

“Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for borrowed money,
(b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all payment obligations of such Person under
conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding accounts

  
 -17- 

 
payable incurred in the ordinary course of business and payment obligations incurred in the ordinary course of business under Specified Licensing Arrangements), (f) all Indebtedness of
others secured by any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of
such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty and (j) all obligations, contingent or otherwise, of such Person in respect of
bankers’ acceptances. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such
Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or on
account of any obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Indemnitees” has the meaning specified in Section 11.04(b). 

“Information” has the meaning specified in Section 11.07. 

“Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of each Interest Period
applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurocurrency Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest
Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is
disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the Company in its Committed Loan Notice or such other period that is twelve months or less requested
by the Company and consented to by all the Lenders; provided that: 
 (a) any Interest Period that would otherwise end on a day that is not
a Business Day shall be extended to the next succeeding Business Day unless, in the case of a Eurocurrency Rate Loan, such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day;

 (b) any Interest Period pertaining to a Eurocurrency Rate Loan that begins on the last Business Day of a calendar month (or on a day for
which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c) no Interest Period shall extend beyond the Maturity Date. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of
(a) the purchase or other acquisition of Equity Interests of 

  
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another Person, (b) a loan, advance or capital contribution to, or the Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other Indebtedness of, another
Person, or (c) any Acquisition. For purposes of covenant compliance, at any time of determination, the amount of any Investment shall be the excess, if any, of (x) the amount actually invested by a Person (without adjustment for subsequent
increases or decreases in the value of such Investment) over (y) all returns of principal or capital thereof received in cash on or prior to such time of determination by such Person in respect of such Investment (including all cash
dividends, cash distributions and cash repayments of Indebtedness received by such Person). 
 “IRS” means the United
States Internal Revenue Service. 
 “ISP” means, with respect to any Letter of Credit, the “International Standby
Practices 1998” published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document,
agreement and instrument entered into by the L/C Issuer and the Company (or any Subsidiary) or in favor of the L/C Issuer and relating to such Letter of Credit. 

“Judgment Currency” has the meaning specified in Section 11.19. 

“Laws” means, collectively, all applicable international, foreign, Federal, state and local statutes, treaties, rules,
guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration
thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 

“L/C Advance” means, with respect to each Revolving Credit Lender, such Lender’s funding of its participation in any L/C
Borrowing in accordance with its Applicable Revolving Credit Percentage. All L/C Advances shall be denominated in Dollars. 
 “L/C
Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing. All L/C Borrowings shall be denominated in
Dollars. 
 “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the
expiry date thereof, or the increase of the amount thereof. 
 “L/C Issuer” means Bank of America (or any Affiliate) in its
capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder. 
 “L/C
Obligations” means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing
the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in 

  
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accordance with Section 1.09. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn
thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” has the meaning specified in the introductory paragraph hereto and, unless the context requires otherwise, includes
the Swing Line Lender. 
 “Lender Parties” means, collectively, the Administrative Agent, the Lenders (including the Swing
line Lender), the L/C Issuer and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.05. 

“Lending Office” means, as to any Lender, the office or offices of such Lender described as such in such Lender’s
Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Company and the Administrative Agent which office may include any Affiliate of such Lender or any domestic or foreign branch of such Lender or
such Affiliate. Unless the context otherwise requires each reference to a Lender shall include its applicable Lending Office. 

“Letter of Credit” means any standby letter of credit issued hereunder providing for the payment of cash upon the honoring of
a presentation thereunder. Letters of Credit may be issued in Dollars or in an Alternative Currency. 
 “Letter of Credit
Application” means an application and agreement for the issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 

“Letter of Credit Expiration Date” means the day that is seven days prior to the Maturity Date then in effect (or, if such
day is not a Business Day, the next preceding Business Day). 
 “Letter of Credit Fee” has the meaning specified in
Section 2.03(i). 
 “Letter of Credit Sublimit” means an amount equal to $10,000,000. The Letter of Credit
Sublimit is part of, and not in addition to, the Revolving Credit Facility. 
 “LIBOR” has the meaning specified in the
definition of Eurocurrency Rate. 
 “LIBOR Quoted Currency” means each of the following currencies: Dollars; Euro; Sterling
and Yen; in each case as long as there is a published LIBOR rate (or a rate otherwise determined pursuant to clause (a)(i) of the definition of Eurocurrency Rate) with respect thereto. 

“Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other),
charge or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance
on title to real property, and any financing lease having substantially the same economic effect as any of the foregoing), but not including the retained interest of a lessor under an operating lease in the property that is the subject of such
lease. 

  
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 “Loan” means an extension of credit by a Lender to a Borrower under Article
II in the form of a Term Loan, a Revolving Credit Loan or a Swing Line Loan. 
 “Loan Documents” means, collectively,
this Agreement, each Designated Borrower Request and Assumption Agreement, each Note, each Issuer Document, the Fee Letter, the Guaranties and any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of
Section 2.14 of this Agreement, and any other agreement now or hereafter executed and delivered in connection herewith and designated as a “Loan Document”. 

“Loan Parties” means, collectively, the Borrowers and the Subsidiary Guarantors. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank Eurodollar market. 
 “Mandatory Cost” means the cost of compliance with the requirements of (x) the Bank of
England and/or the Prudential Regulation Authority and/or Financial Conduct Authority (or, in each case, any other authority which replaces all or any of its functions) or (y) the requirements of the European Central Bank, in each case, with
respect to Eurocurrency Rate Loan of a Lender which is lent from a Lending Office in the United Kingdom or a Participating Member State. 

“Material Adverse Effect” means a material adverse effect on (a) the business, assets, operations or financial
condition, of the Company and its Subsidiaries taken as a whole, or (b) the validity, legality, binding effect or enforceability of this Agreement or any of the other Loan Documents or the rights or remedies of the Administrative Agent and the
Lenders hereunder or thereunder. 
 “Material Foreign Subsidiary” means any Foreign Subsidiary which, (a) is a
Borrower, (b) has been designated by the Company as a Material Foreign Subsidiary in a written notice to the Administrative Agent or (c) by itself or together with its Subsidiaries, accounts (excluding intercompany receivables and
goodwill) for 5% or more of the Company’s consolidated total assets or Consolidated EBITDA for the most recently ended period of four fiscal quarters for which financial statements have been furnished to the Administrative Agent under
Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four fiscal quarters ended on December 31, 2015); provided that if for any period of four fiscal quarters the
combined consolidated total assets or combined Consolidated EBITDA of all Foreign Subsidiaries that neither (x) have been designated under clause (b) above nor (y) would constitute “Material Foreign Subsidiaries” under
clause (c) above, shall have exceeded 10% of the consolidated total assets of the Company or 10% of the Consolidated EBITDA of the Company, then one or more of such excluded Foreign Subsidiaries shall for all purposes of this Agreement be
deemed to be Material Foreign Subsidiaries in descending order based on the amounts of their consolidated total assets until such excess shall have been eliminated. As of the Closing Date, the Material Foreign Subsidiaries are PAREXEL International
GmbH, PAREXEL International Holding B.V., Perceptive Informatics UK Limited, PAREXEL International Limited, Clinphone Limited, Perceptive eClinical Ltd. and PAREXEL International (IRL) Limited. 

  
 -21- 

 “Material Subsidiaries” means, collectively, the Material Foreign Subsidiaries
and the Material US Subsidiaries. 
 “Material US Subsidiary” means a Domestic Subsidiary (other than PAREXEL International
Dutch Holdings LLC and PAREXEL International Holding Corporation) which (a) has been designated by the Company as a Material US Subsidiary in a written notice to the Administrative Agent or (b) by itself or together with its subsidiaries,
accounts for 5% or more of the Company’s Consolidated EBITDA or consolidated total assets for the most recently ended period of four fiscal quarters for which financial statements have been furnished to the Administrative Agent under
Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four fiscal quarters ended on December 31, 2015); provided that if for any period of four fiscal quarters the
combined consolidated total assets or combined Consolidated EBITDA of all Domestic Subsidiaries that neither (x) have been designated under clause (a) above nor (y) would constitute “Material US Subsidiaries” under clause
(b) above, shall have exceeded 10% of the consolidated total assets of the Company or 10% of the Consolidated EBITDA of the Company, then one or more of such excluded Domestic Subsidiaries shall for all purposes of this Agreement be deemed to
be Material US Subsidiaries in descending order based on the amounts of their consolidated total assets until such excess shall have been eliminated. As of the Closing Date, the Material US Subsidiaries are PAREXEL International LLC, Perceptive
Informatics Inc, DataLabs, Inc., Clinphone California, Inc. and Liquent, Inc. 
 “Maturity Date” means March 11, 2021;
provided, however, that if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day. 

“Medicaid” means that government-sponsored entitlement program under Title XIX, P.L. 89-97 of the Social Security Act, which
provides federal grants to states for medical assistance based on specific eligibility criteria, as set forth on Section 1396, et seq. of Title 42 of the United States Code. 

“Medicare” means that government-sponsored insurance program under Title XVIII, P.L. 89-97, of the Social Security Act, which
provides for a health insurance system for eligible elderly and disabled individuals, as set forth at Section 1395, et seq. of Title 42 of the United States Code. 

“Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit
account balances provided to reduce or eliminate Fronting Exposure during the existence of a Defaulting Lender, an amount equal to 100% of the Fronting Exposure of (x) the L/C Issuer with respect to Letters of Credit issued and outstanding at
such time and (y) the Swing line Lender with respect to Swing Line Loans outstanding at such time (giving effect to each Request for Credit Extension then outstanding), (ii) with respect to Cash Collateral consisting of cash or deposit
account balances provided in accordance with the provisions of Section 2.14(a)(ii) or (a)(iii), an amount equal to 105% of the Outstanding Amount of all LC Obligations, and (iii) with respect to Cash Collateral consisting of
other credit support approved by the L/C Issuer or Swing Line Lender, as applicable, such amount of other credit support as agreed to by the Administrative Agent and the L/C Issuer and/or the Swing Line Lender, as applicable, in their sole
discretion. 

  
 -22- 

 “MLPFS” means Merrill Lynch, Pierce, Fenner & Smith Incorporated. 

“Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 

“Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the
Company or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including the Company or any ERISA
Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 

“Non-Credit Party” means any Subsidiary of the Company that is not a Credit Party. 

“Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (i) requires the
approval of all Lenders or all affected Lenders in accordance with the terms of Section 11.01 and (ii) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 

“Non-LIBOR Quoted Currency” means any currency other than a LIBOR Quoted Currency. 

“Non-U.S. Plan” shall mean any plan, fund (including, without limitation, any superannuation fund) or other similar program
established, contributed to (regardless of whether through direct contributions or through employee withholding) or maintained outside the United States by any Loan Party or Subsidiary of any Loan Party primarily for the benefit of employees of the
Loan Party or any such Subsidiary residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination
of employment, and which plan is not subject to ERISA or the Code. 
 “Note” means a Term Note or a Revolving Credit Note,
as the context may require. 
 “Notice of Loan Prepayment” means a notice of prepayment with respect to a Loan, which shall
be substantially in the form of Exhibit J, or such other form as may be approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approved by the Administrative Agent),
appropriately completed and signed by a Responsible Officer. 
 “NPL” means the National Priorities List under CERCLA. 

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan Party arising
under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including

  
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interest and fees that accrue after the commencement by or against any Loan Party of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of
whether such interest and fees are allowed claims in such proceeding. 
 “OFAC” means the Office of Foreign Assets Control
of the United States Department of the Treasury. 
 “Original Credit Agreement” has the meaning specified in the recitals
hereto. 
 “Organization Documents” means, (a) with respect to any corporation, the certificate or articles of
incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and
operating agreement; (c) with respect to any company incorporated in Ireland, the certificate of incorporation, the certificate of incorporation on name change (if applicable) and the constitution; and (d) with respect to any partnership,
joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its
formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation or organization of such entity. 

“Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a present or former connection
between such Recipient and the jurisdiction imposing such Tax (other than connections arising solely from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a
security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes” means all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 3.06) or, for the avoidance of doubt, Excluded Taxes. 

“Outstanding Amount” means (a) with respect to Term Loans and Revolving Credit Loans on any date, the Dollar Equivalent
amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term Loans and Revolving Credit Loans, as the case may be, occurring on such date; (b) with respect to Swing
Line Loans on any date, the Dollar Equivalent amount of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of such Swing Line Loans occurring on such date; and (c) with respect
to any L/C Obligations on any date, the Dollar Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate
amount of the L/C Obligations as of such date, including as a result of any reimbursements by the Borrower of Unreimbursed Amounts. 

  
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 “Overnight Rate” means, for any day, (a) with respect to any amount
denominated in Dollars, the greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent, the L/C Issuer, or the Swing Line Lender, as the case may be, in accordance with banking industry rules on
interbank compensation, and (b) with respect to any amount denominated in an Alternative Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative Currency, in an amount approximately equal to the amount
with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of Bank of America in the applicable offshore interbank market for such currency to major banks in such interbank market. 

“Participant” has the meaning specified in Section 11.06(d). 

“Participating Member State” means any member state of the European Union that has the Euro as its lawful currency in
accordance with legislation of the European Union relating to Economic and Monetary Union. 
 “Participant Register” has
the meaning specified in Section 11.06(d). 
 “PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006, as amended. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act
and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 
 “Pension
Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to (or required to be contributed to) by the Company or any ERISA Affiliate and is either
covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code. 
 “Permitted
Acquisition” means an Acquisition where (a) the Company has notified the Administrative Agent of such proposed Acquisition; (b) the business to be acquired would not subject the Administrative Agent or the Lenders to any
additional regulatory or third party approvals in connection with the exercise of its rights and remedies under this Agreement or any other Loan Document; (c) no contingent liabilities will be incurred or assumed in connection with such
Acquisition which could reasonably be expected to have a Material Adverse Effect; (d) the board of directors and the shareholders (if required by applicable law), or the equivalent, of the applicable Loan Party or other Subsidiary and the
Person to be acquired has approved such merger, consolidation or Acquisition); (e) the Company individually, and the Company and its Subsidiaries on a consolidated basis, will be Solvent upon the consummation of the Permitted Acquisition;
(f) the Company and the other Loan Parties shall be in compliance with Section 7.11(a) and (b) on a pro forma basis as at the end of and for the most recently ended period of four fiscal quarters for which financial
statements have been furnished to the Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four fiscal quarters ended on December 31, 2015);
(g) after giving effect to the 

  
 -25- 

 
Acquisition, (x) Consolidated EBITDA (determined on a pro-forma basis for the period of four fiscal quarters most recently ended for which financial statements have been furnished to the
Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four fiscal quarters ended on December 31, 2015)), is not more than 20% lower than
Consolidated EBITDA for the period of four fiscal quarters most recently ended for which financial statements have been furnished to the Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery
of any such statements, for the period of four fiscal quarters ended on December 31, 2015) without giving effect to such Acquisition and (y) the Company and its Subsidiaries shall be in compliance with the restrictions set forth in
Section 7.07; (h) no Default or Event of Default then exists or would result after giving effect to such Acquisition; and (i) in the case of a Permitted Material Acquisition, the Company shall have delivered a certificate of a
Financial Officer to the Administrative Agent (and attaching calculations reasonably satisfactory to the Administrative Agent, as appropriate) (i) certifying as to clauses (e) through (h) above, and (ii) demonstrating that after
giving effect to the Acquisition, the Consolidated Net Leverage Ratio (determined on a pro-forma basis for the period of four fiscal quarters most recently ended for which financial statements have been furnished to the Administrative Agent under
Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four fiscal quarters ended on December 31, 2015)), shall not be greater than the maximum applicable ratio permitted
at such time pursuant to Section 7.11(b). 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes that are not yet due or are being contested in compliance with Section 6.05;

 (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s and other like Liens
imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 60 days or are being contested in compliance with Section 6.05; 

(c) pledges and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment
insurance and other social security laws or regulations; 
 (d) deposits or pledges to secure the performance of bids, trade
contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(e) judgment liens in respect of judgments that do not constitute an Event of Default under Section 8.01(h); 

(f) easements, zoning restrictions, rights-of-way and similar encumbrances on real property imposed by law or arising in the
ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or interfere with the ordinary conduct of business of the Company or any Subsidiary; 

  
 -26- 

 (g) the filing of Uniform Commercial Code financing statements and similar
filings (i) made solely as a precautionary measure in connection with an operating lease, provided that such filings shall relate solely to the assets which are the subject of such lease, or (ii) made to evidence or perfect the sale
or assignment of accounts receivable pursuant to a disposition not prohibited pursuant to Section 7.03 hereof; and 

(h) any Lien and/or right of set-off arising under the general terms and conditions (algemene bankvoorwaarden) or any
equivalent terms and conditions of any banking or financing institution in any jurisdiction; 
 provided that the term “Permitted
Encumbrances” shall not include any Lien securing Indebtedness. 
 “Permitted Investments” means: 

(a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United
States of America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; 

(b) investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of
acquisition, the highest credit rating obtainable from S&P or from Moody’s; 
 (c) investments in certificates of
deposit, banker’s acceptances and time deposits maturing within 180 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial
bank organized under the laws of the United States or any state thereof which has a combined capital and surplus and undivided profits of not less than $500,000,000; 

(d) fully collateralized repurchase agreements with a term of not more than 30 days for securities described in clause (a)
above and entered into with a financial institution satisfying the criteria described in clause (c) above; 
 (e) money
market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the Investment Company Act of 1940, and (ii) are rated AAA by S&P and Aaa by
Moody’s; and 
 (f) investments described on Schedule 1.01(p). 

“Permitted Material Acquisition” means any individual Acquisitions which would otherwise be a Permitted Acquisition that
exceeds an aggregate purchase price of $200,000,000. 
 “Permitted Stock Repurchases” means any buybacks or repurchases of
Equity Interests issued by the Company or any other Loan Party, provided that both prior to and after giving pro forma effect to any such proposed buyback or repurchase of Equity Interests, (x) the

  
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Consolidated Net Leverage Ratio shall not be greater 3.00 to 1.00, (y) the Borrowers shall be in compliance with each of the other financial covenants set forth in Section 7.11
and (z) no Default or Event of Default shall exist. 
 “Person” means any natural person, corporation, limited
liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan),
maintained for employees of the Borrower or any Loan Party or any such Plan to which the Borrower or any Loan Party is required to contribute on behalf of any of its employees. 

“Platform” has the meaning specified in Section 6.02. 

“Public Lender” has the meaning specified in Section 6.02. 

“Qualifying Jurisdiction” means: (a) a member state of the European Communities other than Ireland; (b) a
jurisdiction with which Ireland has entered into a Tax Treaty that has the force of law; or (c) a jurisdiction with which Ireland has entered into a Tax Treaty where that treaty will (on completion of necessary procedures) have the force of
law. 
 “Qualifying Lender” means a Lender which is beneficially entitled to interest payable to that Lender in respect of
an advance under any Loan Document and is: 
 (a) a bank which is licensed to carry on banking business in Ireland and which is carrying on
a bona fide banking business in Ireland (for the purposes of section 246(3) TCA) and whose Facility Office is located in Ireland; or 
 (b)
a building society (within the meaning of section 256(1) TCA) which is carrying on a bona fide banking business in Ireland (for the purposes of section 246(3) TCA) and whose Facility Office is located in Ireland; or 

(c) an authorized credit institution (under the terms of Directive 2013/36/EU) which has duly established a branch in Ireland, having made all
necessary notifications to its home state competent authorities (as required under Directive 2013/36/EU and, where applicable, under Council Regulation No 1024/2013) in relation to its intention to carry on banking business in Ireland, and such
credit institution is carrying on a bona fide banking business in Ireland (for the purposes of section 246(3) TCA) and whose Facility Office is located in Ireland; or 

(d) a body corporate: 

(i) which, by virtue of the law of a Qualifying Jurisdiction, is resident in the Qualifying Jurisdiction for the purposes of
tax and that jurisdiction imposes a tax that generally applies to interest receivable in that jurisdiction by bodies corporate or payable into an account located in that jurisdiction from sources outside that jurisdiction; or 

(ii) which is a US corporation which is incorporated in the United States and is taxed in the United States on its worldwide
income; or 

  
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 (iii) which is a US limited liability company where (I) the ultimate
recipients of the interest would themselves be Qualifying Lenders under sub-paragraphs (i), (ii) or (iv) of this paragraph (d), and (II) business is conducted through the US limited liability company for market reasons and not for tax
avoidance purposes; 
 (iv) where the interest: 

(1) is exempted from the charge to Irish income tax under a Tax Treaty in force on the date the interest is paid; or 

(2) would be exempted from the charge to Irish income tax if a Tax Treaty which has been signed but is not yet in force had the
force of law on the date the interest is paid, 
 except where, in respect of each of sub-paragraphs (i) to (iv), interest payable to
that body corporate in respect of an advance under any Loan Document is paid in connection with a trade or business which is carried on in Ireland by that body corporate through a branch or agency; or 

(e) a body corporate which advances money in the ordinary course of a trade which includes the lending of money and whose Facility Office is
located in Ireland where the interest on the advance under any Loan Document is taken into account in computing the trading income of such body corporate and such body corporate has complied with the notification requirements under
section 246(5) TCA; or 
 (f) a qualifying company (within the meaning of section 110 TCA) whose Facility Office is located in Ireland;
or 
 (g) an investment undertaking (within the meaning of section 739B TCA) whose Facility Office is located in Ireland; or 

(h) not a Qualifying Lender pursuant to paragraphs (a) to (g), that is a Treaty Lender. 

“Recipient” means the Administrative Agent, any Lender, the L/C Issuer or any other recipient of any payment to be made by or
on account of any Obligation of any Loan Party hereunder. 
 “Register” has the meaning specified in
Section 11.06(c). 
 “Related Parties” means, with respect to any Person, such Person’s Affiliates and the
partners, directors, officers, employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Removal Effective Date” has the meaning specified in Section 9.06(b). 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day
notice period has been waived. 

  
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 “Request for Credit Extension” means (a) with respect to a Borrowing,
conversion or continuation of Term Loans or Revolving Credit Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

 “Required Lenders” means, as of any date of determination, Lenders holding more than 50% of the sum of the
(a) Total Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations being deemed “held” by such Revolving Credit Lender for purposes of this
definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for
purposes of making a determination of Required Lenders; provided, further, that the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been
reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination. 

“Required Revolving Lenders” means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the
sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such
Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or
deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders; provided, further, that the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that
such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination. 

“Required Term Lenders” means, as of any date of determination, Term Lenders holding more than 50% of the Term Facility on
such date; provided that the portion of the Term Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term Lenders. 

“Resignation Effective Date” has the meaning specified in Section 9.06(a). 

“Responsible Officer” means (a) the chief executive officer, president, chief financial officer, treasurer, assistant
treasurer, controller of a Loan Party or, in the case of any Foreign Obligor, a managing director, director, or duly appointed attorney of such Foreign Obligor, and (b)(i) solely for purposes of the delivery of incumbency certificates pursuant to
Section 4.01, the secretary or any assistant secretary of a Loan Party, (ii) solely for purposes of notices given pursuant to Article II, any other officer or employee of a Loan Party so designated by any of the foregoing officers
of the applicable Loan Party described in clause (a) in a notice to the Administrative Agent or any other officer or employee of a Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Administrative
Agent, and, (iii) solely with respect to the Company, the Vice President of Corporate Finance or its general 

  
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counsel. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership
and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) on any Equity
Interest of the Company or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or
termination of any such Equity Interest, or on account of any return of capital to the Company’s stockholders, partners or members (or the equivalent Person thereof) in their capacity as such. 

“Revaluation Date” means (a) with respect to any Loan, each of the following: (i) each date of a Borrowing of a
Eurocurrency Rate Loan denominated in an Alternative Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in an Alternative Currency pursuant to Section 2.02, and (iii) such additional dates as the
Administrative Agent shall determine or the Required Lenders shall require; and (b) with respect to any Letter of Credit, each of the following: (i) each date of issuance of a Letter of Credit denominated in an Alternative Currency,
(ii) each date of an amendment of any such Letter of Credit having the effect of increasing the amount thereof (solely with respect to the increased amount), (iii) each date of any payment by the L/C Issuer under any Letter of Credit
denominated in an Alternative Currency, and (iv) such additional dates as the Administrative Agent or the L/C Issuer shall determine or the Required Lenders shall require. 

“Revolving Credit Borrowing” means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type, in the
same currency and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b). 

“Revolving Credit Commitment” means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit
Loans to the Borrowers pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed
the Dollar amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party
hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 
 “Revolving Credit
Facility” means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time. The amount of the Revolving Credit Facility on the Closing Date is $350,000,000. 

“Revolving Credit Increase Effective Date” has the meaning specified in Section 2.17(d). 

“Revolving Credit Lender” means, at any time, any Lender that has a Revolving Credit Commitment at such time. 

  
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 “Revolving Credit Loan” has the meaning specified in Section 2.01(b)
and shall include all Existing Revolving Credit Loans. 
 “Revolving Credit Note” means a promissory note made by a
Borrower in favor of a Revolving Credit Lender evidencing Revolving Credit Loans made by such Revolving Credit Lender, substantially in the form of Exhibit C. 

“Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately available funds, and
(b) with respect to disbursements and payments in an Alternative Currency, same day or other funds as may be determined by the Administrative Agent, the Swing Line Loan or the L/C Issuer, as the case may be, to be customary in the place of
disbursement or payment for the settlement of international banking transactions in the relevant Alternative Currency. 

“Sanction(s)” means any international economic sanction administered or enforced by the United States Government (including
without limitation, OFAC or the U.S. Department of State), the United Nations Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions authority. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Section 82” has the meaning specified in Section 4.01(a)(xii). 

“Senior Notes” means the private placement of senior unsecured notes (ranking pari passu in right of payment with the
Obligations), which may be issued by a Credit Party in an aggregate amount not to exceed $250,000,000. 
 “Social Security
Act” means the Social Security Act of 1965. 
 “Solvent” and “Solvency” mean, with respect to any
Person on any date of determination, that on such date (a) the fair value of the property of such Person is greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value
of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (c) such Person does not intend to incur debts or liabilities beyond
such Person’s ability to pay such debts and liabilities as they mature, (d) such Person is not engaged in business or a transaction for which such Person’s property would constitute an unreasonably small capital, and (e) such
Person is able to pay its debts and liabilities and contingent obligations as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and
circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. and
any successor thereto. 
 “Special Interest Period” has the meaning specified in Section 2.02(a). 

  
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 “Special Notice Currency” means at any time an Alternative Currency, other than
the currency of a country that is a member of the Organization for Economic Cooperation and Development at such time located in North America or Europe. 

“Specified Licensing Arrangement” means each nonexclusive commercial third party software licensing arrangement entered into
by the Company or any other Subsidiary of the Company, as a licensee, in the ordinary course of business, consistent with past practice; provided that (x) such licensing arrangement is terminable upon the giving of required notice,
without penalty or acceleration any other payments otherwise due in any future period and (y) there are no earned amounts that are unpaid thereunder (other than earned amounts in the ordinary course that would be classified as current accounts
payable). 
 “Spot Rate” for a currency means the rate determined by the Administrative Agent or the L/C Issuer, as
applicable, to be the rate quoted by the Person acting in such capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the
date two Business Days prior to the date as of which the foreign exchange computation is made; provided that the Administrative Agent or the L/C Issuer may obtain such spot rate from another financial institution designated by the
Administrative Agent or the L/C Issuer if the Person acting in such capacity does not have as of the date of determination a spot buying rate for any such currency; and provided further that the L/C Issuer may use such spot rate quoted
on the date as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in an Alternative Currency. 

“Sterling” and “£” mean the lawful currency of the United Kingdom. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity
of which a majority of the shares of Equity Interests having ordinary voting power for the election of directors or other governing body (other than Equity Interests having such power only by reason of the happening of a contingency) are at the time
beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to
“Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Company. 
 “Subsidiary Guarantors”
means, collectively, each Material US Subsidiary as of the Closing Date, and each other Subsidiary of the Company that shall be required to execute and deliver a guaranty or guaranty supplement pursuant to Section 6.10. As of the Closing
Date, the Subsidiary Guarantors are PAREXEL International, LLC, Perceptive Informatics, Inc, DataLabs Inc., Clinphone California Inc., Perceptive Services, Inc. and Liquent, Inc. 

“Subsidiary Guaranty” means, collectively, the Guarantee of the Guaranteed Borrower Obligations made by the Subsidiary
Guarantors under Section 10.02 in favor of the Lender Parties, together with each other guaranty and guaranty supplement, in form and substance reasonably satisfactory to the Administrative Agent, delivered pursuant to
Section 6.10 for the benefit of the Lender Parties. 

  
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 “Swap Contract” means (a) any and all rate swap transactions, basis swaps,
credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond
price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and
(b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any
International Foreign Exchange Master Agreement, or any other similar master agreement used to document transactions of the type specified in clause (a) (any such master agreement, together with any related schedules, a “Master
Agreement”), including any such obligations or liabilities under any Master Agreement; provided, however, that no phantom stock or similar plan providing for payments only on account of services provided by current or former
directors, officers, employees or consultants of the Company or the Subsidiaries shall be a Swap Agreement. 
 “Swap Termination
Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts
have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap
Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to Section 2.04. 

“Swing Line Lender” means Bank of America in its capacity as provider of Swing Line Loans, or any successor swing line lender
hereunder. 
 “Swing Line Loan” has the meaning specified in Section 2.04(a). 

“Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b), which shall be
substantially in the form of Exhibit F or such other form as approved by the Administrative Agent (including any form on an electronic platform or electronic transmission system as shall be approve by the Administrative Agent),
appropriately completed and signed by a Responsible Officer of the applicable Borrower. 
 “Swing Line Sublimit” means an
amount equal to the lesser of (a) $100,000,000 and (b) the aggregate amount of the Revolving Credit Facility. The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Facility. 

  
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 “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express
Transfer payment system which utilizes a single shared platform and which was launched on November 19, 2007. 
 “TARGET
Day” means any day on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any, determined by the Administrative Agent to be a suitable replacement) is open for the settlement of payments in
Euro. 
 “Tax Treaty” means a double taxation treaty into which Ireland has entered which contains an article dealing with
interest or income from debt claims. 
 “Taxes” means all present or future taxes, levies, imposts, duties, deductions,
withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“TCA” means the Taxes Consolidation Act 1997 of Ireland. 

“Term Borrowing” means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency
Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a). All Term Borrowings shall be denominated in Dollars. 

“Term Commitment” shall mean, with respect to each Term Lender, collectively its (a) Closing Date Term Commitment and
(b) Incremental Term Commitment, if any. 
 “Term Facility” means, at any time, (a) on the Closing Date, the
aggregate amount of the Closing Date Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans of all Term Lenders outstanding at such time (after giving effect to any Incremental Term Loans made or to
be made with respect to any Incremental Term Commitment). As of the Closing Date, the Term Facility is $400,000,000. 

“Term Lender” means (a) on the Closing Date, any Lender that has (x) a Term Commitment at such time
and/or (y) Existing Term Loan at such time and (b) at any time after the Closing Date, any Lender that holds Term Loans or Incremental Term Loan Commitment at such time. 

“Term Loan” means an advance made by any Term Lender under the Term Facility (including any Existing Term Loan and any
Incremental Term Loans made pursuant to Section 2.18). 
 “Term Loan Amortization Amount” means an amount equal
to the product of (a) the sum of (x) the Term Facility on the Closing Date plus (y) the aggregate amount of all Incremental Term Loans made pursuant to Section 2.18 (solely to the extent such Incremental Term Loans
are made on the same terms as the Term Facility as in effect on the Closing Date (i.e., without utilizing the proviso set forth in Section 2.18(f)) times (b) (i) 0.625%, in the case of any quarterly Term Loan
amortization payment made pursuant to Section 2.07(a) commencing June 30, 2016 and made on or prior to March 31, 2017, (ii) 1.250%, in the case of any quarterly Term Loan amortization payment made pursuant to
Section 2.07(a) on or after June 30, 2017 and made on or 

  
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prior to March 31, 2019, (iii) 1.875%, in the case of any quarterly Term Loan amortization payment made pursuant to Section 2.07(a) on or after June 30, 2019 and made
on or prior to March 31, 2020, (iv) 2.500%, in the case of any quarterly Term Loan amortization payment made pursuant to Section 2.07(a) on or after June 30, 2020, but prior to the Maturity Date, and (v) 72.500% (or,
if lesser, the entire remaining principal amount of the Term Loan), on the Maturity Date. 
 “Term Loan Increase Effective
Date” has the meaning specified in Section 2.18(d). 
 “Term Note” means a promissory note made
by the Company in favor of a Term Lender evidencing Term Loans made by such Term Lender, substantially in the form of Exhibit B. 

“Total Revolving Credit Outstandings” means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans
and L/C Obligations. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations.

 “Transaction” means, collectively, the execution, delivery and performance by the Loan Parties and their applicable
Subsidiaries of the Loan Documents to which they are a party, the borrowing of Loans by each Borrower, the use of the proceeds thereof and the incurrence of Letters of Credit hereunder. 

“Treaty Lender” means a Lender which: 

(a) is treated as a resident of a Treaty State for the purposes of a Tax Treaty which makes provision for full exemption from tax imposed by
Ireland on interest or income from debt claims; 
 (b) does not carry on a business in Ireland through a permanent establishment with which
that Lender’s participation in the Loan is effectively connected; and 
 (c) fulfils all conditions, other than conditions which relate
to the payor of the interest, of the Tax Treaty which must be fulfilled for residents of that Treaty State to be paid interest without the deduction of Irish tax (assuming the completion of any necessary procedural formalities). 

“Treaty State” means a jurisdiction which has entered into a Tax Treaty with Ireland which has the force of law. 

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan. 

“United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 

  
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 “Unrestricted Cash” shall mean the aggregate amount of cash of the Company and
each other Credit Party that (a) would not appear as “restricted” on a consolidated balance sheet of the Company and its Subsidiaries and (b) is not otherwise subject to any Lien (other than Liens contemplated under
Section 7.02(h)(iii) or (iv) hereof), except in favor of the Administrative Agent or any Lender pursuant to any Loan Document to secure the Obligations. 

“Unrestricted Cash Amount” shall mean, on any date, the lesser of an amount equal to (a) $50,000,000 and (b) the
sum of Unrestricted Cash maintained in the United States with a Lender. 
 “U.S. Person” means any Person that is a
“United States Person” as defined in Section 7701(a)(30) of the Code. 
 “U.S. Tax Compliance Certificate”
has the meaning specified in Section 3.01(e)(ii)(B)(III). 
 “Write-Down and Conversion Powers” means, with
respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are
described in the EU Bail-In Legislation Schedule. 
 “Yen” and “¥” mean the lawful currency of Japan.

 1.02. Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified
herein or in such other Loan Document: 
 (a) The definitions of terms herein shall apply equally to the singular and plural forms of the
terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the
phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement,
instrument or other document (including any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the words “hereto”,
“herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision thereof,
(iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the Loan Document in
which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference to any law or regulation shall, unless otherwise
specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer
to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

  
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 (b) In the computation of periods of time from a specified date to a later specified date, the
word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and
including.” 
 (c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall
not affect the interpretation of this Agreement or any other Loan Document. 
 1.03. Accounting Terms. (a) Generally. All
accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be
prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein.
Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Company and its Subsidiaries shall be deemed to be carried at 100% of
the outstanding principal amount thereof, and the effects of FASB ASC 825 on financial liabilities shall be disregarded. 
 (b) Changes
in GAAP. If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Company or the Required Lenders shall so request, the Administrative Agent, the Lenders
and the Company shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended,
(i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Company shall provide to the Administrative Agent for distribution to the Lenders a written reconciliation
between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. Notwithstanding the foregoing if at any time any change in GAAP would require operating leases or real estate leases to be capitalized, the
GAAP treatment of operating and real estate leases on the Closing Date shall continue to apply for purposes of this Agreement and the other Loan Documents, including for purposes of the definitions of “Consolidated EBITDA”,
“Consolidated Interest Charges” and “Consolidated Funded Indebtedness” and the calculation of the financial covenants under this Agreement. 

(c) Consolidation of Variable Interest Entities. All references herein to consolidated financial statements of the Company and its
Subsidiaries or to the determination of any amount for the Company and its Subsidiaries on a consolidated basis or any similar reference shall, in each case, be deemed to include each variable interest entity that the Company is required to
consolidate pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein. 
 (d) CCT. The Company
has advised the Administrative Agent that it does, and is required to, consolidate CCT in its consolidated financial statements, but that the Company 

  
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does not have the power to control CCT. Accordingly, financial position, results of operations and cash flows of CCT shall be included for the purpose of (a) the definitions of
“Consolidated EBITDA”, “Consolidated Interest Charges” and “Consolidated Funded Indebtedness”, (b) the financial statements and reporting requirements in Section 6.01 and (c) determining compliance
with the financial covenants in Section 7.11. CCT shall not be deemed to be a Subsidiary for the purposes of the closing conditions in Article IV, the representations and warranties in Article V, the affirmative
covenants in Article VI, the negative covenants in Article VII, and the events of default in Article VIII. 

1.04. Rounding. Any financial ratios required to be maintained by the Company pursuant to this Agreement shall be calculated by
dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there
is no nearest number). 
 1.05. Exchange Rates; Currency Equivalents; Eurocurrency Rate. 

(a) The Administrative Agent or the L/C Issuer, as applicable, shall determine the Spot Rates as of each Revaluation Date to be used for
calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in Alternative Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any
amounts between the applicable currencies until the next Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or calculating financial covenants hereunder or except as otherwise provided herein,
the applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Administrative Agent or the L/C Issuer, as applicable. 

(b) Wherever in this Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Eurocurrency Rate Loan or the
issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but such Borrowing, Eurocurrency Rate Loan or Letter of Credit is denominated in an Alternative Currency, such
amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Administrative Agent, the Swing Line Lender
or the L/C Issuer, as the case may be. 
 (c) The Administrative Agent does not warrant, nor accept responsibility, nor shall the
Administrative Agent have any liability with respect to the administration, submission or any other matter related to the rates in the definition of “Eurocurrency Rate” or with respect to any comparable or successor rate thereto. 

1.06. Additional Alternative Currencies. 

(a) The Company may from time to time request that Eurocurrency Rate Loans be made and/or Letters of Credit be issued in a currency other than
those specifically listed in the definition of “Alternative Currency;” provided that such requested currency is a lawful currency 

  
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(other than Dollars) that is readily available and freely transferable and convertible into Dollars. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such
request shall be subject to the approval of the Administrative Agent and the Lenders; and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Administrative Agent
and the L/C Issuer. 
 (b) Any such request shall be made to the Administrative Agent not later than 11:00 a.m., 20 Business Days prior to
the date of the desired Credit Extension (or such other time or date as may be agreed by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the L/C Issuer, in each case, in its or their sole discretion).
In the case of any such request pertaining to (x) Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Lender thereof; and (y) Letters of Credit, the Administrative Agent shall promptly notify the L/C Issuer
thereof. Each Lender (in the case of any such request pertaining to Eurocurrency Rate Loans) or the L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the Administrative Agent, not later than 11:00 a.m., ten Business
Days after receipt of such request whether it consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of Credit, as the case may be, in such requested currency. 

(c) Any failure by a Lender or the L/C Issuer, as the case may be, to respond to such request within the time period specified in the
preceding sentence shall be deemed to be a refusal by such Lender or the L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be made or Letters of Credit to be issued in such requested currency. If the Administrative Agent and all
the Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent shall so notify the Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes
of any Committed Borrowings of Eurocurrency Rate Loans; and if the Administrative Agent and the L/C Issuer consent to the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the Company and such
currency shall thereupon be deemed for all purposes to be an Alternative Currency hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain consent to any request for an additional currency under this
Section 1.06, the Administrative Agent shall promptly so notify the Company. 
 1.07. Change of Currency. 

(a) Each obligation of the Borrowers to make a payment denominated in the national currency unit of any member state of the European Union
that adopts the Euro as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement
in respect of that currency shall be inconsistent with any convention or practice in the London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with
effect from the date on which such member state adopts the Euro as its lawful currency; provided that if any Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect,
with respect to such Borrowing, at the end of the then current Interest Period. 

  
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 (b) Each provision of this Agreement shall be subject to such reasonable changes of construction
as the Administrative Agent, in consultation with the Company, may from time to time reasonably specify to be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices
relating to the Euro. 
 (c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the
Administrative Agent, in consultation with the Company, may from time to time reasonably specify to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in
currency. 
 1.08. Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Eastern
time (daylight or standard, as applicable). 
 1.09. Letter of Credit Amounts. Unless otherwise specified herein, the amount of a
Letter of Credit at any time shall be deemed to be the Dollar Equivalent of the stated amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms
of any Issuer Document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the Dollar Equivalent of the maximum stated amount of such Letter of Credit
after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time. 
 ARTICLE II. 

THE COMMITMENTS AND CREDIT EXTENSIONS 

2.01. The Loans. (a) Existing Term Loans; The Term Borrowing. Subject to the terms and conditions set forth herein,
(i) all Existing Term Loans shall be deemed to have been made pursuant hereto, and from and after the Closing Date, continue as Term Loans hereunder and (ii) each Term Lender severally agrees to make a single loan denominated in Dollars to
the Company on the Closing Date in an amount not to exceed such Term Lender’s Closing Date Term Commitment. The Term Borrowing on the Closing Date shall consist of Term Loans made (or, as applicable, continued) simultaneously by the Term
Lenders in accordance with their respective Closing Date Term Commitment. Amounts borrowed under this Section 2.01(a) and repaid or prepaid may not be reborrowed. Term Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further
provided herein. 
 (b) The Revolving Credit Borrowings. Subject to the terms and conditions set forth herein, each Revolving Credit
Lender severally agrees to make loans (each such loan, a “Revolving Credit Loan”) to the Borrowers in Dollars or in one or more Alternative Currencies from time to time, on any Business Day during the Availability Period, in an
aggregate amount not to exceed at any time outstanding the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit
Outstandings shall not exceed the Revolving Credit Facility, and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the
Outstanding Amount 

  
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of all L/C Obligations, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving
Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this
Section 2.01(b), prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein. All Existing Revolving
Credit Loans shall be deemed to have been made pursuant hereto, and from and after the Closing Date, all Existing Revolving Credit Loans shall continue as Revolving Credit Loans hereunder. 

2.02. Borrowings, Conversions and Continuations of Loans. (a) Each Term Borrowing, each Revolving Credit Borrowing, each
conversion of Term Loans or Revolving Credit Loans from one Type to the other, and each continuation of Eurocurrency Rate Loans shall be made upon the applicable Borrower’s irrevocable notice to the Administrative Agent by a Committed Loan
Notice. Each such Committed Loan Notice must be received by the Administrative Agent not later than 11:00 a.m. (i) two Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate Loans
denominated in Dollars or of any conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) three Business Days (or four Business Days in the case of a Special Notice Currency) prior to the requested date of any
Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, and (iii) on the requested date of any Borrowing of Base Rate Loans; provided, however, that if the Company wishes to request Eurocurrency
Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of “Interest Period” (a “Special Interest Period”), the applicable notice must be received by the
Administrative Agent not later than 11:00 a.m. (x) three Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Dollars, or (y) four Business Days (or five Business
days in the case of a Special Notice Currency) prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, whereupon the Administrative Agent shall give prompt notice to
the Lenders of such request and determine whether the requested Special Interest Period is acceptable to all of them. Not later than 11:00 a.m., (i) two Business Days before the requested date of such Borrowing, conversion or continuation of
Eurocurrency Rate Loans denominated in Dollars, or (ii) three Business Days (or four Business days in the case of a Special Notice Currency) prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans
denominated in Alternative Currencies, the Administrative Agent shall notify the Company (which notice may be by telephone) whether or not the requested Special Interest Period has been consented to by all the Lenders. Each Borrowing of, conversion
to or continuation of Eurocurrency Rate Loans shall be in a principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof. Except as provided in Section 2.03(c) and 2.04(c), each Borrowing of or conversion to
Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed Loan Notice shall specify (i) whether the Company is requesting a Term Borrowing, a Revolving Credit Borrowing, a
conversion of Term Loans or Revolving Credit Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business
Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Term Loans or Revolving Credit Loans are to be converted,
(v)

  
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if applicable, the duration of the Interest Period with respect thereto, (vi) the currency of the Loan to be borrowed or continued and (vii) if applicable, the Designated Borrower. If
the Company fails to specify a currency in a Committed Loan Notice requesting a Borrowing, then the Loans so requested shall be made in Dollars. If the Company fails to specify a Type of Loan in a Committed Loan Notice or if the Company fails to
give a timely notice requesting a conversion or continuation, then the applicable Term Loans or Revolving Credit Loans shall be made as, or converted to, Base Rate Loans; provided, however, that in the case of a failure to timely
request a continuation of Loans denominated in an Alternative Currency, such Loans shall be continued as Eurocurrency Rate Loans in their original currency with an Interest Period of one month. Any such automatic conversion to Base Rate Loans shall
be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If the Company requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Committed
Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one month. No Loans may be converted into or continued as Loans denominated in a different currency, but instead must be prepaid in the
original currency of such Loans and reborrowed in the other currency. 
 (b) Following receipt of a Committed Loan Notice, the
Administrative Agent shall promptly notify each Lender of the amount (and currency) of its Applicable Percentage under the applicable Facility of the applicable Term Loans or Revolving Credit Loans, and if no timely notice of a conversion or
continuation is provided by the Company, the Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans or continuation of Loans denominated in a currency other than Dollars, in each case as described
in Section 2.02(a). In the case of a Term Borrowing or a Revolving Credit Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in Same Day Funds at the Administrative Agent’s Office for
the applicable currency not later than 1:00 p.m., in the case of any Loans denominated in Dollars, and not later than the Applicable Time specified by the Administrative Agent in the case of any Loans in an Alternative Currency, on the Business Day
specified in the applicable Committed Loan Notice or, as to Loans to be made on the Closing Date as to which Advance Funding Arrangements are in effect, in accordance with the terms thereof. Upon satisfaction of the applicable conditions set forth
in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Company or the other applicable Borrower in like funds as
received by the Administrative Agent either by (i) crediting the account of such Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions
provided to (and reasonably acceptable to) the Administrative Agent by the Company; provided, however, that if, on the date a Committed Loan Notice with respect to a Revolving Credit Borrowing denominated in Dollars is given by the
Company, there are L/C Borrowings outstanding, then the proceeds of such Revolving Credit Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and, second, shall be made available to the applicable
Borrower as provided above. 
 (c) During the existence of an Event of Default, no Loans may be converted to Eurocurrency Rate Loans
(whether in Dollars or any Alternative Currency) without the consent of the Required Lenders, and the Required Lenders may demand that (i) any or all of the then outstanding Eurocurrency Rate Loans denominated in an Alternative Currency be
prepaid, or 

  
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redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto and/or (ii) any or all of the then
outstanding Eurocurrency Rate Loans be converted to Base Rate Loans, on the last day of the then current Interest Period with respect thereto. 

(d) The Administrative Agent shall promptly notify the Company and the Lenders of the interest rate applicable to any Interest Period for
Eurocurrency Rate Loans upon determination of such interest rate. At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify the Company and the Lenders of any change in Bank of America’s prime rate used in
determining the Base Rate promptly following the public announcement of such change. 
 (e) After giving effect to all Term Borrowings,
all conversions of Term Loans from one Type to the other, and all continuations of Term Loans as the same Type, there shall not be more than seven (7) Interest Periods in effect in respect of the Term Facility. After giving
effect to all Revolving Credit Borrowings, all conversions of Revolving Credit Loans from one Type to the other, and all continuations of Revolving Credit Loans as the same Type, there shall not be more than twelve (12) Interest Periods in
effect in respect of the Revolving Credit Facility. 
 (f) Notwithstanding anything to the contrary in this Agreement, any Lender may
exchange, continue or rollover all of the portion of its Loans in connection with any refinancing, extension, loan modification or similar transaction permitted by the terms of this Agreement, pursuant to a cashless settlement mechanism approved by
the Company, the Administrative Agent, and such Lender. 
 2.03. Letters of Credit. (a) The Letter of Credit Commitment.
(i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the agreements of the Revolving Credit Lenders set forth in this Section 2.03, (1) from time to time on any Business Day
during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit denominated in Dollars or in one or more Alternative Currencies for the account of the Company or its Subsidiaries, and to amend or extend
Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (2) to honor drawings under the Letters of Credit; and (B) the Revolving Credit Lenders severally agree to participate in Letters of Credit
issued for the account of the Company or its Subsidiaries and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Revolving Credit Outstandings shall
not exceed the Revolving Credit Facility, (y) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all
L/C Obligations, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and
(z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Company for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Company that the L/C
Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Company’s ability to obtain Letters of Credit shall
be fully revolving, and accordingly the Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

  
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 (ii) The L/C Issuer shall not issue any Letter of Credit if: 

(A) subject to Section 2.03(b)(iii), the expiry date of such requested Letter of Credit would occur more than
twelve months after the date of issuance or last extension, unless the Required Revolving Lenders have approved such expiry date; or 

(B) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless the
Administrative Agent and the L/C Issuer have approved such expiry date (it being understood that in the event the expiry date of any requested Letter of Credit would occur after the Letter of Credit Expiration Date, from and after the Letter of
Credit Expiration Date, the Company shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations in respect of such Letters of Credit in accordance with Section 2.14). 

(iii) The L/C Issuer shall not be under any obligation to issue any Letter of Credit if: 

(A) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin or restrain
the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over the L/C Issuer shall prohibit, or
request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such Letter of Credit any restriction, reserve or capital requirement
(for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the L/C Issuer any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the L/C Issuer in
good faith deems material to it; 
 (B) the issuance of such Letter of Credit would violate one or more policies of the L/C
Issuer applicable to letters of credit generally; 
 (C) except as otherwise agreed by the Administrative Agent and the L/C
Issuer, such Letter of Credit is in an initial stated amount less than $500,000; 
 (D) any Revolving Credit Lender is at
that time a Defaulting Lender, unless the L/C Issuer has entered into arrangements, including the delivery of Cash Collateral, satisfactory to the L/C Issuer (in its sole discretion) with the Borrowers or such Revolving Credit Lender to eliminate
the L/C Issuer’s actual or potential Fronting Exposure (after giving effect to Section 2.15(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or that Letter of Credit
and all other L/C Obligations as to which the L/C Issuer has actual or potential Fronting Exposure, as it may elect in its sole discretion; 

  
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 (E) except as otherwise agreed by the Administrative Agent and the L/C Issuer,
such Letter of Credit is to be denominated in a currency other than Dollars or an Alternative Currency; or 
 (F) other than
with respect to Euro, Sterling and Yen, the L/C Issuer does not as of the issuance date of such requested Letter of Credit issue Letters of Credit in the requested currency. 

(iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer would not be permitted at such time to issue such
Letter of Credit in its amended form under the terms hereof. 
 (v) The L/C Issuer shall be under no obligation to amend any
Letter of Credit if (A) the L/C Issuer would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit does not accept the proposed amendment
to such Letter of Credit. 
 (vi) The L/C Issuer shall act on behalf of the Revolving Credit Lenders with respect to any
Letters of Credit issued by it and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or
omissions suffered by the L/C Issuer in connection with Letters of Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in
Article IX included the L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 

(b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 

(i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Company delivered to the L/C
Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the Company. Such Letter of Credit Application may be sent by facsimile, by United States
mail, by overnight courier, by electronic transmission using the system provided by the L/C Issuer, by personal delivery or by any other means acceptable to the L/C Issuer. Such Letter of Credit Application must be received by the L/C Issuer and the
Administrative Agent not later than 11:00 a.m. at least three Business Days (or such later date and time as the Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date
or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail reasonably satisfactory to the L/C Issuer: (A) the proposed
issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; 

  
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(C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the
full text of any certificate to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as the L/C Issuer may reasonably request. In the
case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer (1) the Letter of Credit to be amended; (2) the proposed date of
amendment thereof (which shall be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the L/C Issuer may reasonably request. Additionally, the Company shall furnish to the L/C Issuer and the
Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment, including any Issuer Documents, as the L/C Issuer or the Administrative Agent may require. In the event that any Letter of
Credit Application or other Issuer Documents include representations and warranties, covenants and/or events of default that do not contain the materiality qualifiers, exceptions or thresholds that are applicable to the analogous provisions of this
Agreement or other Loan Documents, or are otherwise more restrictive, the relevant qualifiers, exceptions and thresholds contained herein shall be incorporated therein or, to the extent more restrictive, shall be deemed for the purposes of such
Letter of Credit Application or other Issuer Documents to be the same as the analogous provisions herein. 
 (ii) Promptly
after receipt of any Letter of Credit Application, the L/C Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Company and, if
not, the L/C Issuer will provide the Administrative Agent with a copy thereof. Unless the L/C Issuer has received written notice from any Revolving Credit Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the
requested date of issuance or amendment of the applicable Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer
shall, on the requested date, issue a Letter of Credit for the account of the Company (or the applicable Subsidiary) or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and
customary business practices. Immediately upon the issuance of each Letter of Credit, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such
Letter of Credit in an amount equal to the product of such Revolving Credit Lender’s Applicable Revolving Credit Percentage times the amount of such Letter of Credit. 

(iii) If the Company so requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole and absolute
discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent
any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in
each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless 

  
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otherwise directed by the L/C Issuer, the Company shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been
issued, the Revolving Credit Lenders shall be deemed to have authorized (but may not require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date;
provided, however, that the L/C Issuer shall not permit any such extension if (A) the L/C Issuer has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in its revised
form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day
that is seven Business Days before the Non-Extension Notice Date from the Administrative Agent, any Revolving Credit Lender or the Company that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and
in each such case directing the L/C Issuer not to permit such extension. 
 (iv) Promptly after its delivery of any Letter of
Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to the Company and the Administrative Agent a true and complete copy of such Letter of Credit or
amendment. Upon the making of any L/C Credit Extension, the Administrative Agent shall notify each of the Lenders of such Credit Extension, provided, however, that failure to provide any such notice shall in no event (x) result in
any liability of the Administrative Agent to any Lender and (y) effect the validity or enforceability of any such L/C Credit Extension or (z) limit or otherwise impair in any manner the obligations (including reimbursement and risk
participation obligation) of any Lender under this Section 2.03. 
 (c) Drawings and Reimbursements; Funding of
Participations. (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C Issuer shall notify the Company and the Administrative Agent thereof. In the case of a Letter of
Credit denominated in an Alternative Currency, the Company shall reimburse the L/C Issuer in such Alternative Currency, unless (A) the L/C Issuer (at its option) shall have specified in such notice that it will require reimbursement in Dollars,
or (B) in the absence of any such requirement for reimbursement in Dollars, the Company shall have notified the L/C Issuer promptly following receipt of the notice of drawing that the Company will reimburse the L/C Issuer in Dollars. In the
case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in an Alternative Currency, the L/C Issuer shall notify the Company of the Dollar Equivalent of the amount of the drawing promptly following the
determination thereof. Not later than 12:00 noon on the date of any payment by the L/C Issuer under a Letter of Credit to be reimbursed in Dollars, or the Applicable Time on the date of any payment by the L/C Issuer under a Letter of Credit to be
reimbursed in an Alternative Currency (each such date, an “Honor Date”), the Company shall reimburse the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing and in the applicable currency,
provided, however, that if the Company shall have received notice of such payment by the L/C issuer under a Letter of Credit less than one hour prior to the required time for payment set forth above, the Company shall reimburse the L/C
Issuer through the Administrative Agent in an amount equal to the amount of such drawing and in the applicable currency not later than 12:00 noon or the Applicable Time, as the case may be, on the 

  
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immediately succeeding Business Day (together with interest thereon (at the rate otherwise applicable to a Base Rate Loan), which shall be solely for the account of the L/C Issuer). In the event
that (A) a drawing denominated in an Alternative Currency is to be reimbursed in Dollars pursuant to clause (B) of the second sentence in this Section 2.03(c)(i) and (B) the Dollar amount paid by the Company, whether on or
after the Honor Date, shall not be adequate on the date of that payment to purchase in accordance with normal banking procedures a sum denominated in the Alternative Currency equal to the drawing, the Company agrees, as a separate and independent
obligation, to indemnify the L/C Issuer for the loss resulting from its inability on that date to purchase the Alternative Currency in the full amount of the drawing. If the Company fails to so reimburse the L/C Issuer by such time, the
Administrative Agent shall promptly notify each Revolving Credit Lender of the Honor Date, the amount of the unreimbursed drawing (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in
an Alternative Currency) (the “Unreimbursed Amount”), and the amount of such Revolving Credit Lender’s Applicable Revolving Credit Percentage thereof. In such event, the Company shall be deemed to have requested a Revolving
Credit Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but
subject to the amount of the unutilized portion of the Revolving Credit Commitments and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the
Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect
of such notice. 
 (ii) Each Revolving Credit Lender shall upon any notice pursuant to Section 2.03(c)(i) make
funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose) for the account of the L/C Issuer, in Dollars, at the Administrative Agent’s Office for Dollar-denominated payments in an amount equal to its
Applicable Revolving Credit Percentage of the Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each
Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Company in such amount. The Administrative Agent shall remit the funds so received to the L/C Issuer in Dollars. 

(iii) With respect to any Unreimbursed Amount that is not fully refinanced by a Revolving Credit Borrowing of Base Rate Loans
because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Company shall be deemed to have incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so
refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest at the Default Rate. In such event, each Revolving Credit Lender’s payment to the Administrative Agent for the account of the
L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this
Section 2.03. 

  
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 (iv) Until each Revolving Credit Lender funds its Revolving Credit Loan or L/C
Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Revolving Credit Percentage of such amount shall be solely for the
account of the L/C Issuer. 
 (v) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or L/C
Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff,
counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, the Company, any Subsidiary or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or (C) any other
occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Credit Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.03(c) is
subject to the conditions set forth in Section 4.02 (other than delivery by the Company of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the Company to reimburse the L/C
Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 

(vi) If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any
amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), then, without limiting the other provisions of this Agreement, the L/C
Issuer shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately
available to the L/C Issuer at a rate per annum equal to the applicable Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such
Lender pays such amount (with interest and fees as aforesaid), the amount so paid (other than such interest and fees) shall constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or L/C Advance in respect of the
relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Revolving Credit Lender (through the Administrative Agent) with respect to any amounts owing under this Section 2.03(c)(vi) shall be conclusive
absent manifest error. 
 (d) Repayment of Participations. (i) At any time after the L/C Issuer has made a payment under any
Letter of Credit and has received from any Revolving Credit Lender such Revolving Credit Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account of the
L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Company or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Administrative Agent
will distribute to such Lender its Applicable Revolving Credit Percentage of the Dollar Equivalent of such payment. 

  
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 (ii) If any payment received by the Administrative Agent for the account of the
L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each
Revolving Credit Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable Revolving Credit Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to
the date such amount is returned by such Lender, at a rate per annum equal to the applicable Overnight Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the
termination of this Agreement. 
 (e) Obligations Absolute. The obligation of the Company to reimburse the L/C Issuer for each
drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 

(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document; 

(ii) the existence of any claim, counterclaim, setoff, defense or other right that the Company or any Subsidiary may have at
any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with this Agreement, the
transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; provided that the Company and its Subsidiaries shall not be precluded from pursuing their rights and
remedies in separate actions; 
 (iii) any draft, demand, certificate or other document presented under such Letter of Credit
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing
under such Letter of Credit; 
 (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a
draft or certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for
the benefit of creditors, liquidator, receiver, examiner or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or

 (v) any adverse change in the relevant exchange rates or in the availability of the relevant Alternative Currency to the
Company or any of its Subsidiary or in the relevant currency markets generally; or 

  
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 (vi) waiver by the L/C Issuer of any requirement that exists for the L/C
Issuer’s protection and not the protection of the Company or its Subsidiaries or any waiver by the L/C Issuer which does not in fact materially prejudice the Company or its Subsidiaries; 

(vii) honor of a demand for payment presented electronically even if such Letter of Credit requires that demand be in the form
of a draft; 
 (viii) any payment made by the L/C Issuer in respect of an otherwise complying item presented after the date
specified as the expiration date of, or the date by which documents must be received under, such Letter of Credit if presentation after such date is authorized by the UCC or the ISP, as applicable; or 

(ix) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Company or any of its Subsidiaries. 
 The
Company shall promptly examine a copy of each Letter of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the Company’s instructions or other irregularity, the Company will
immediately notify the L/C Issuer. The Company shall be conclusively deemed to have waived any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 

(f) Role of L/C Issuer. Each Lender and the Company agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall
not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of
the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for
(i) any action taken or omitted in connection herewith at the request or with the approval of the Revolving Credit Lenders or the Required Revolving Lenders, as applicable; (ii) any action taken or omitted in the absence of gross
negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of Credit or Issuer Document. The Company hereby assumes all risks of the acts or
omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this assumption is not intended to, and shall not, preclude the Company’s pursuing such rights and remedies as it
may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be
liable or responsible for any of the matters described in clauses (i) through (vi) of Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the Company may have a claim
against the L/C Issuer, and the L/C Issuer may be liable to the Company, to the extent, but only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Company which the Company proves were caused by the L/C
Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful or grossly negligent failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and

  
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certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the foregoing, the L/C Issuer may accept documents that appear on
their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or
assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. The L/C Issuer may send a Letter of Credit
or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially reasonable means of communicating with a
beneficiary. 
 (g) Release of Lenders’ Obligations. Notwithstanding anything to the contrary contained herein or in any other
Loan Document, in the event that (i) the L/C Issuer shall have issued, in accordance with Section 2.03(a)(ii)(B), a Letter of Credit with an expiry date occurring after the Letter of Credit Expiration Date and (ii) the Company
shall have Cash Collateralized the Outstanding Amount of all such L/C Obligations in respect of such Letter of Credit pursuant to Section 2.14, then, upon the provision of such Cash Collateral and without any further action, each Lender
hereunder shall be automatically released from any further obligation to the L/C Issuer in respect of such Letter of Credit, including, without limitation, any obligation of any such Lender to reimburse the L/C Issuer for amounts drawn under such
Letter of Credit or to purchase any risk participation therein; provided, however, that all such obligations of each Lender hereunder to the L/C Issuer in respect of such Letter of Credit shall be revived if any Cash Collateral
provided by the Company in respect of such Letter of Credit is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent or the L/C
Issuer) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such Cash Collateral had not been provided. The obligations of the Lenders under this paragraph
shall survive termination of this Agreement. 
 (h) Applicability of ISP. Unless otherwise expressly agreed by the L/C Issuer and the
Company when a Letter of Credit is issued, the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing, the L/C Issuer shall not be responsible to the Company for, and the L/C Issuer’s rights and remedies against
the Company shall not be impaired by, any action or inaction of the L/C Issuer required or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any
order of a jurisdiction where the L/C Issuer or the beneficiary is located, the practice stated in the ISP, or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance
and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 

(i) Letter of Credit Fees. The Company shall pay to the Administrative Agent for the account of each Revolving Credit Lender in
accordance with its Applicable Revolving Credit Percentage, in Dollars, a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the Dollar Equivalent of the daily
amount available to be drawn under such Letter of Credit; provided, however, that any Letter of Credit Fees 

  
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otherwise payable for the account of a Defaulting Lender with respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the L/C Issuer
subject to the provisions hereof, to the maximum extent permitted by applicable Law, to the other Revolving Credit Lenders in accordance with the upward adjustments in their respective Applicable Percentages allocable to such Letter of Credit
pursuant to Section 2.15(a)(iv), with the balance of such fee, if any, payable to the L/C Issuer for its own account. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter
of Credit shall be determined in accordance with Section 1.09. Letter of Credit Fees shall be (i) due and payable on the last Business Day of each of March, June, September and December, commencing with the first such date to occur
after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount
available to be drawn under each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained
herein, upon the request of the Required Revolving Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate. 

(j) Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer. The Company shall pay directly to the L/C Issuer for its
own account, in Dollars, a fronting fee with respect to each Letter of Credit, at the rate per annum specified in the Fee Letter, computed on the Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly
basis in arrears. Such fronting fee shall be due and payable on the tenth Business Day after the end of each March, June, September and December in respect of the most recently-ended quarterly period (or portion thereof, in the case of the first
payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand. For purposes of computing the daily amount available to be drawn under any Letter
of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.09. In addition, the Company shall pay directly to the L/C Issuer for its own account, in Dollars, the customary issuance, presentation,
amendment and other processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due and payable within three Business
Days of demand and are nonrefundable. 
 (k) Conflict with Issuer Documents. In the event of any conflict between the terms hereof
and the terms of any Issuer Document, the terms hereof shall control. 
 (l) Letters of Credit Issued for Subsidiaries.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the Company shall be obligated to reimburse the L/C Issuer hereunder for any and all drawings under
such Letter of Credit and shall, at the option of the L/C Issuer, be listed as an account party thereto. The Company hereby acknowledges that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the Company, and
that the Company’s business derives substantial benefits from the businesses of such Subsidiaries. 

  
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 2.04. Swing Line Loans. 

(a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender agrees, in reliance upon the agreements
of the other Revolving Credit Lenders set forth in this Section 2.04, to make loans in Dollars (each such loan, a “Swing Line Loan”) to the Company from time to time on any Business Day during the Availability Period,
notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Revolving Credit Percentage of the Outstanding Amount of Revolving Credit Loans and L/C Obligations of the Revolving Credit Lender acting as Swing Line Lender,
may exceed the amount of such Revolving Credit Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total Revolving Credit Outstandings shall not exceed the
Revolving Credit Facility, (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C
Obligations, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment, and
(iii) the Outstanding Amount of the Swing Line Loans shall not exceed the Swing Line Sublimit, and provided, further, that the Company shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan.
Within the foregoing limits, and subject to the other terms and conditions hereof, the Company may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line
Loan shall be a Base Rate. Immediately upon the making of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the Swing Line Lender a risk participation in such
Swing Line Loan in an amount equal to the product of such Revolving Credit Lender’s Applicable Revolving Credit Percentage times the Dollar Equivalent of such Swing Line Loan. 

(b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Company’s delivery of a Swing Line Loan Notice to the
Swing Line Lender and the Administrative Agent. Each such Swing Line Loan Notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify (i) the amount
to be borrowed, which shall be a minimum of $500,000, and (ii) the requested borrowing date, which shall be a Business Day. Promptly after receipt by the Swing Line Lender of any Swing Line Loan Notice, the Swing Line Lender will confirm with
the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing) of the contents
thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Lender) prior to 2:00 p.m. on the date of the proposed Swing Line Borrowing, (A) directing the
Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one or more of the applicable conditions specified in
Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 3:00 p.m. on the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line
Loan available to the Company at its office by crediting the account of the Company on the books of the Swing Line Lender in Same Day Funds. 

  
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 (c) Refinancing of Swing Line Loans. 

(i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Company (which hereby
irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan denominated in Dollars in an amount equal to such Lender’s Applicable Revolving Credit Percentage of the Dollar
Equivalent of the Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02,
without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Credit Facility and the conditions set forth in Section 4.02. The Swing
Line Lender shall furnish the Company with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make funds available (and the Administrative Agent may
apply Cash Collateral provided for this purpose) for the account of Swing line Lender, in Dollars, at the Administrative Agent’s Office for Dollar-denominated payments in an amount equal to its Applicable Revolving Credit Percentage of the
amount specified in such Committed Loan Notice not later than 1:00 p.m. on the day specified in such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender that so makes funds available shall be
deemed to have made a Base Rate Loan to the Company in such amount. The Administrative Agent shall remit the funds so received to the Swing Line Lender. 

(ii) If for any reason any Swing Line Loan cannot be refinanced by such a Revolving Credit Borrowing in accordance with
Section 2.04(c)(i), the request for Base Rate Loans denominated in Dollars submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender that each of the Revolving Credit Lenders fund its
risk participation in the relevant Swing Line Loans and each Revolving Credit Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed payment in respect of
such participation. 
 (iii) If any Revolving Credit Lender fails to make available to the Administrative Agent for the
account of the Swing Line Lender any amount required to be paid by such Revolving Credit Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified in Section 2.04(c)(i), the Swing Line Lender
shall be entitled to recover from such Revolving Credit Lender (acting through the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is
immediately available to the Swing Line Lender at a rate per annum equal to the Overnight Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with
the foregoing. If such Revolving Credit Lender pays such amount (with interest and fees as aforesaid), the amount so paid (other than such interest and fees) shall constitute such Lender’s Revolving Credit Loan included in the relevant
Revolving Credit Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any Revolving Credit Lender (through the Administrative Agent) with respect to any amounts
owing under this clause (iii) shall be conclusive absent manifest error. 

  
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 (iv) Each Lender’s obligation to make Revolving Credit Loans or to purchase
and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any setoff, counterclaim, recoupment, defense or
other right which such Lender may have against the Swing Line Lender, the Company, any Subsidiary or any other Person for any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or
condition, whether or not similar to any of the foregoing; provided, however, that each Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in
Section 4.02. No such funding of risk participations shall relieve or otherwise impair the obligation of the Company and the other Borrowers to repay Swing Line Loans, together with interest as provided herein. 

(d) Repayment of Participations. 

(i) At any time after any Revolving Credit Lender has purchased and funded a risk participation in a Swing Line Loan, if the
Swing Line Lender receives any payment on account of such Swing Line Loan or interest thereon (whether directly from the Company or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the Swing Line Lender
will distribute to such Revolving Credit Lender its Applicable Revolving Credit Percentage thereof in the same form as those received by the Swing Line Lender. 

(ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line Loan is required to
be returned by the Swing Line Lender under any of the circumstances described in Section 11.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit Lender shall pay to the
Swing Line Lender its Applicable Revolving Credit Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Overnight
Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Revolving Credit Lenders under this clause shall survive the payment in full of the Obligations and the termination of this
Agreement. 
 (e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Company for
interest on the Swing Line Loans. Until each Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Lender’s Applicable Revolving Credit Percentage of any Swing Line Loan, interest in
respect of such Applicable Revolving Credit Percentage shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly
to Swing Line Lender. The Company shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 

  
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 (g) Reserved. 

(h) Defaulting Lender. If at any time there shall exist a Revolving Credit Lender that is a Defaulting Lender, each Loan Party hereby
agrees that the Swing Line Lender shall be permitted, in its sole discretion, to retain such amount of any requested Swing Line Loan as may be necessary to fully Cash Collateralize the then outstanding Fronting Exposure of the Swing Line Lender with
respect to such Defaulting Lender. The amount of any Swing Line Loan so retained by the Swing Line Lender shall be deemed to be Cash Collateral provided by the Borrowers pursuant to Section 2.14 and subject to the provisions thereof. In
any such event, the Borrowers shall be deemed to have received and the Swing Line Lender shall be deemed to have made, the entire principal amount of the Swing Line Loan so requested, provided that only the portion not retained by the Swing Line
Lender as Cash Collateral shall actually be disbursed to the Company. Notwithstanding anything to the contrary contained in this Agreement, any portion of a Swing Line Loan retained to cash collateralize Fronting Exposure of the Swing Line Lender
shall be excluded from the determination the Consolidated Interest Coverage Ratio and the Consolidated Net Leverage Ratio. 
 2.05.
Prepayments. 
 (a) Optional Prepayments of Term Loans and Revolving Credit Loans. Each Borrower may, upon delivery of a Notice
of Loan Prepayment to the Administrative Agent, at any time or from time to time voluntarily prepay Term Loans and Revolving Credit Loans in whole or in part without premium or penalty; provided that (A) such Notice of Loan Prepayment
shall be received by the Administrative Agent not later than 11:00 a.m. (1) two Business Days prior to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (2) three Business Days (or four, in the case of prepayment of
Loans denominated in Special Notice Currencies) prior to any date of prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies, and (3) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurocurrency Rate
Loans denominated in Dollars shall be in a minimum principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof; (C) any prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies shall be in a minimum
principal amount of $2,000,000 or a whole multiple of $1,000,000 in excess thereof; (D) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less,
the entire principal amount thereof then outstanding; and (E) if a Notice of Loan Prepayment is given in connection with a conditional notice of termination contemplated by Section 2.06(a), then such Notice of Loan Prepayment may be
revoked if such notice of termination is revoked in accordance with Section 2.06(a) (it being understood that the Company shall be responsible for the payment of all amounts required pursuant to Section 3.05 in connection
with any such revocation and the failure to make any such prepayment on the date so specified). Each such Notice of Loan Prepayment shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurocurrency Rate
Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such Notice of Loan Prepayment, and of the amount of such Lender’s ratable portion of such
prepayment (based on such Lender’s Applicable Percentage in respect of the relevant Facility). If such Notice of Loan Prepayment is given by the Company, the applicable Borrower shall make such prepayment and the payment amount specified in
such Notice of Loan Prepayment 

  
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shall be due and payable on the date specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional
amounts required pursuant to Section 3.05. Subject to Section 2.15(a), each prepayment of the outstanding Term Loans pursuant to this Section 2.05(a) shall be applied to the principal repayment installments
thereof in inverse order of maturity, and each such prepayment shall be paid to the Lenders in accordance with their respective Applicable Percentage in respect of the Term Facility. 

(b) Optional Prepayments of Swing Line Loans. The Company may, upon notice to the Swing Line Lender (with a copy to the Administrative
Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the Administrative Agent not later
than 1:00 p.m. on the date of the prepayment, (ii) any such prepayment shall be in a minimum principal amount of $100,000 and (iii) if a notice of prepayment is given in connection with a conditional notice of termination contemplated by
Section 2.06(a), then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.06(a). Each such notice shall specify the date and amount of such prepayment. If such notice
is given by the Company, the Company shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 

(c) Mandatory. If the Administrative Agent notifies the Company at any time that (i) the Total Revolving Credit Outstandings at
such time exceed an amount equal to 105% of the Revolving Credit Facility then in effect, then, within three Business Days after receipt of such notice, the Borrowers shall prepay Revolving Credit Loans, Swing Line Loans and/or the Company shall
Cash Collateralize the L/C Obligations in an aggregate amount sufficient to reduce the Total Revolving Credit Outstandings as of such date of payment to an amount not to exceed 100% of the Revolving Credit Facility then in effect; provided,
however, that, subject to clause (ii) below and the provisions of Section 2.14(a), the Company shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(c) unless after the
prepayment in full of the Revolving Credit Loans and the Swing Line Loans the Total Revolving Credit Outstandings exceed the Revolving Credit Facility then in effect or (ii) the L/C Obligations at such time exceed an amount equal to 105% of the
Letter of Credit Sublimit then in effect, then, within three Business Days after receipt of such notice, the Company shall Cash Collateralize the L/C Obligations in an aggregate amount sufficient to eliminate such excess as of such date of provision
of such Cash Collateral. The Administrative Agent may, at any time and from time to time after the initial deposit of such Cash Collateral, request that additional Cash Collateral be provided in accordance with this Section 2.05(c) in
order to protect against the results of further exchange rate fluctuations. 
 2.06. Termination or Reduction of Commitments.
(a) Optional. The Company may, upon notice to the Administrative Agent, terminate the Revolving Credit Facility, the Letter of Credit Sublimit or the Swing Line Sublimit, or from time to time permanently reduce the Revolving Credit
Facility, the Letter of Credit Sublimit or the Swing Line Sublimit; provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m. three Business Days prior to the date of termination or
reduction, (ii) any such partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the Company shall not terminate or reduce (A) the Revolving Credit Facility if,
after 

  
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giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Revolving Credit Facility, (B) the Letter of Credit Sublimit if,
after giving effect thereto, the Outstanding Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit, or (C) the Swing Line Sublimit if, after giving effect thereto, the Outstanding Amount of
Swing Line Loans hereunder would exceed the Swing Line Sublimit and (iv) a notice of termination under this Section 2.06(a) may state that such notice is conditioned up on the effectiveness of other credit facilities or receipt of
funds with respect to any other applicable transactions, in which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 

(b) Mandatory. (i) The aggregate Closing Date Term Commitments shall be automatically and permanently reduced to zero on the
Closing Date upon the making of the Term Loans to be made on the Closing Date. 
 (ii) The aggregate Incremental Term
Commitments shall be automatically and permanently reduced to zero on the Term Loan Increase Effective Date applicable thereto upon the making of such Incremental Term Loans. 

(iii) If after giving effect to any reduction or termination of Revolving Credit Facility under this Section 2.06,
the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the Revolving Credit Facility at such time, the Letter of Credit Sublimit and/or the Swing Line Sublimit shall be automatically reduced by the amount of such excess. 

(c) Application of Commitment Reductions; Payment of Fees. The Administrative Agent will promptly notify the Lenders of any termination
or reduction of the Revolving Credit Facility, Swing Line Sublimit or the Letter of Credit Sublimit under this Section 2.06. Upon any reduction of the Revolving Credit Facility, the Revolving Credit Commitment of each Revolving Credit
Lender shall be reduced by such Lender’s Applicable Revolving Credit Percentage of such reduction amount. All fees in respect of the Revolving Credit Facility accrued until the effective date of any termination or reduction of the Revolving
Credit Facility shall be paid on the effective date of such termination or reduction. 
 2.07. Repayment of Loans. (a) Term
Loans. On the last Business Day of each March, June, September and December (commencing June 2016), the Borrowers shall repay the principal amount of the Term Loans in installments equal to the Term Loan Amortization Amount (which shall be
reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05(a)); provided, however, that the final principal repayment installment of the Term Loans shall be paid
on the Maturity Date in an amount equal to the applicable Term Loan Amortization Amount on the Maturity Date and in any event shall be in an amount equal to the aggregate principal amount of all Term Loans outstanding on such date. 

(b) Revolving Credit Loans. Each Borrower shall repay to the Revolving Credit Lenders on the Maturity Date for the Revolving Credit
Facility, the aggregate principal amount of all Revolving Credit Loans made to such Borrower outstanding on such date. 
 (c) Swing Line
Loans. Each Borrower shall repay each Swing Line Loan made to such Borrower on the earlier to occur of (i) the date ten Business Days after such Loan is made and (ii) the Maturity Date. 

  
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 2.08. Interest. (a) Subject to the provisions of Section 2.08(b),
(i) each Eurocurrency Rate Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate for
Eurocurrency Rate Loans; (ii) each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for Base Rate Loans;
and (iii) subject to Section 2.04(h), each Swing Line Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate
for Base Rate Loans. 
 (b) (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods),
whether at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(ii) If any amount (other than principal of any Loan) payable by any Borrower under any Loan Document is not paid when due
(without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) Upon the request of the Required
Lenders, while any Event of Default exists (other than as set forth in clauses (b)(i) and (b)(ii) above), the Borrowers shall pay interest on the principal amount of all outstanding Obligations hereunder at a fluctuating interest rate per annum
at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iv) Accrued and unpaid
interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 
 (c) Interest on each Loan
shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and
before and after the commencement of any proceeding under any Debtor Relief Law. 
 2.09. Fees. In addition to certain fees described
in Sections 2.03(i) and (j): 
 (a) Commitment Fee. The Company shall pay to the Administrative Agent for the account
of each Revolving Credit Lender in accordance with its Applicable Revolving Credit Percentage, a commitment fee (the “Commitment Fee”) in Dollars equal to the Applicable Rate for Commitment Fees times the actual daily amount
by which the Revolving Credit Facility exceeds the sum of (i) the Outstanding Amount of Revolving Credit Loans and (ii) the 

  
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Outstanding Amount of L/C Obligations, subject to adjustment as provided in Section 2.15. The Commitment Fee shall accrue at all times during the Availability Period, including at any
time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with March 31, 2016, and on the
last day of the Availability Period. The Commitment Fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate
separately for each period during such quarter that such Applicable Rate was in effect. 
 (b) Other Fees. (i) The Company shall
pay to MLPFS and the Administrative Agent for their own respective accounts, in Dollars, fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason
whatsoever. 
 (ii) The Company shall pay to the Arrangers (other than MLPFS), in Dollars, such fees as shall have been
separately agreed upon on or prior to the Closing Date in writing in connection with this Agreement in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

2.10. Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate.  

(a) All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurocurrency Rate) shall be
made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as
applicable, being paid than if computed on the basis of a 365-day year), or, in the case of interest in respect of Loans denominated in Alternative Currencies as to which market practice differs from the foregoing, in accordance with such market
practice. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the
same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be prima facie evidence for all purposes, absent
demonstrable error. 
 (b) If, as a result of any restatement of or other adjustment to the financial statements of the Company or for any
other reason (other than a restatement of or adjustment to such financial statements by reason of a required change in GAAP), the Company or the Lenders determine that (i) the Consolidated Net Leverage Ratio as calculated by the Company as of
any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Net Leverage Ratio would have resulted in higher pricing for such period, the Company shall immediately and retroactively be obligated to pay to the
Administrative Agent for the account of the applicable Lenders or the L/C Issuer, as the case may be, promptly on demand by the Administrative Agent (or, after the occurrence of an actual or deemed entry of an order for

  
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relief with respect to the Company under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an amount
equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any Lender
or the L/C Issuer, as the case may be, under Section 2.03(i) or 2.08(b)or under Article VIII. The Company’s obligations under this paragraph shall survive the termination of the Aggregate Commitments and the
repayment of all other Obligations hereunder for the limited period ending one month following the date of the annual audited financial statements of the Company and its Subsidiaries that include the period during which such termination and
repayment occurred. 
 2.11. Evidence of Debt. (a) The Credit Extensions made by each Lender shall be evidenced by one or more
accounts or records maintained by such Lender and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount
of the Credit Extensions made by the Lenders to the Borrowers and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any
amount owing with respect to the Obligations. In the event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the
Administrative Agent shall control in the absence of manifest error. Upon the request of any Lender to a Borrower made through the Administrative Agent, such Borrower shall execute and deliver to such Lender (through the Administrative Agent) a
Note, which shall evidence such Lender’s Loans to such Borrower in addition to such accounts or records. Each Lender may attach schedules to a Note and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Loans
and payments with respect thereto. 
 (b) In addition to the accounts and records referred to in Section 2.11(a), each Lender
and the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between
the accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 

2.12. Payments Generally; Administrative Agent’s Clawback. (a) General. All payments to be made by the Borrowers shall
be made free and clear of and without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein and except with respect to principal of and interest on Loans denominated in an
Alternative Currency, all payments by the Borrowers hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in Dollars and in
Same Day Funds not later than 2:00 p.m. on the date specified herein. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder with respect to principal and interest on Loans denominated in an Alternative Currency shall
be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in such Alternative Currency and in Same Day Funds not later

  
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than the Applicable Time specified by the Administrative Agent on the dates specified herein. Without limiting the generality of the foregoing, the Administrative Agent may require that any
payments due under this Agreement be made in the United States. If, for any reason, any Borrower is prohibited by any Law from making any required payment hereunder in an Alternative Currency, such Borrower shall make such payment in Dollars for the
Dollar Equivalent of the Alternative Currency payment amount. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage in respect of the relevant Facility (or other applicable share as provided herein) of such
payment in like funds as received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent (i) after 2:00 p.m., in the case of payments in Dollars, or (ii) after the Applicable Time specified
by the Administrative Agent in the case of payments in an Alternative Currency, shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment to be made by any
Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be. 

(b) (i) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a
Lender prior to the proposed date of any Borrowing of Eurocurrency Rate Loans (or, in the case of any Borrowing of Base Rate Loans, prior to 12:00 noon on the date of such Borrowing) that such Lender will not make available to the Administrative
Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a Borrowing of Base Rate Loans, that
such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a
Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding
amount in Same Day Funds with interest thereon, for each day from and including the date such amount is made available to such Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made
by such Lender, the Overnight Rate, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the case of a payment to be made by such Borrower, the interest
rate applicable to Base Rate Loans. If such Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to such Borrower the amount of such
interest paid by such Borrower for such period. If such Lender pays its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by such
Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(ii) Payments by Borrowers; Presumptions by Administrative Agent. Unless the Administrative Agent shall have received
notice from a Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the L/C Issuer hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such
Borrower has made such payment on such 

  
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date in accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate Lenders or the L/C Issuer, as the case may be, the amount due. In such event, if such Borrower
has not in fact made such payment, then each of the Appropriate Lenders or the L/C Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or the L/C Issuer, in
Same Day Funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate. 

A notice of the Administrative Agent to any Lender or any Borrower with respect to any amount owing under this subsection (b) shall be
conclusive, absent manifest error. 
 (c) [Reserved]. 

(d) Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan to be made by
such Lender to any Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to such Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in
Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest. 

(e) Obligations of Lenders Several. The obligations of the Lenders hereunder to make Term Loans and Revolving Credit Loans, to fund
participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make any Loan, to fund any such participation or to make any payment under
Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to
purchase its participation or to make its payment under Section 11.04(c). 
 (f) Funding Source. Nothing herein shall be
deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(g) Insufficient Funds. If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all
amounts of principal, L/C Borrowings, interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, toward payment of principal and L/C Borrowings then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal and L/C
Borrowings then due to such parties. 
 2.13. Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff
or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the applicable Loans made by it, or the participations in L/C Obligations or in Swing 

  
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Line Loans held by it (if any) resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such applicable Loans or participations and accrued interest thereon
greater than its pro rata share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in
the Loans and subparticipations in L/C Obligations and Swing Line Loans of the other Lenders, or make such other adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with
the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them, provided that: 

(i) if any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is
recovered, such participations or subparticipations shall be rescinded and the purchase price restored to the extent of such recovery, without interest; and 

(ii) the provisions of this Section shall not be construed to apply to (w) any payment made by or on behalf of a Borrower
pursuant to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender), (x) the application of Cash Collateral provided for in Section 2.14, or
(y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant, other than an assignment to
the Company or any Affiliate thereof (as to which the provisions of this Section shall apply), or (z) any payment of consideration for executing any amendment, waiver or consent in connection with this Agreement so long as such consideration
has been offered to all consenting Lenders. 
 Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so
under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct
creditor of such Loan Party in the amount of such participation. 
 2.14. Cash Collateral. 

(a) Certain Credit Support Events. Upon the request of the Administrative Agent or the L/C Issuer (i) if the L/C Issuer has
honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) if, as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, or
(iii) if the Company shall be required to provide Cash Collateral pursuant to Section 8.02, in each case, the Borrowers shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations in an amount not less
than the applicable Minimum Collateral Amount. At any time that there shall exist a Revolving Credit Lender that is a Defaulting Lender, immediately upon the request of the Administrative Agent, the L/C Issuer or the Swing Line Lender, the Borrowers
shall deliver to the Administrative Agent Cash Collateral in an amount not less than the applicable Minimum Collateral Amount (after giving effect to Section 2.15(a)(iv) and any Cash Collateral provided by such Defaulting Lender) (it
being understood that the 

  
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Administrative Agent may, at any time and from time to time after the initial deposit of Cash Collateral, request that additional Cash Collateral be provided in accordance with this
Section 2.14(a) in order to protect against the results of exchange rate fluctuations). Additionally, if the Company shall be required to Cash Collateralize any L/C Obligations pursuant to Section 2.05(c) then, within the
time specified in such Section 2.05(c), the Company shall provide Cash Collateral for the applicable L/C Obligations in an amount not less than the amount required by such Section 2.05(c). 

(b) Grant of Security Interest. Any Cash Collateral (other than credit support not constituting funds subject to deposit) shall be
maintained in blocked, non-interest bearing deposit accounts at Bank of America. Each Borrower, and to the extent provided by any Revolving Credit Lender, such Revolving Credit Lender, will grant to (and subjects to the control of) the
Administrative Agent, for the benefit of the Administrative Agent, the L/C Issuer and the Revolving Credit Lenders (including the Swing Line Lender), and will agree to maintain, a first priority security interest in all such cash, deposit accounts
and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to
Section 2.14(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the Administrative Agent as herein provided, or that the total amount of such Cash
Collateral is less than the Minimum Collateral Amount, the Borrowers or the relevant Defaulting Lender will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount
sufficient to eliminate such deficiency. The Company shall pay on demand therefor from time to time all customary account opening, activity and other customary administrative fees and charges in connection with the maintenance and disbursement of
Cash Collateral. Each Designated Borrower hereby agrees to take any such further acts and to execute, acknowledge, deliver, record, file, and register such documents and instruments as the Administrative Agent may reasonably require to carry out the
provisions of this Section 2.14. 
 (c) Application. Notwithstanding anything to the contrary contained in this Agreement
(except for and subject to Section 2.14(d)), Cash Collateral provided under any of this Section 2.14 or Sections 2.03, 2.04, 2.05, 2.15 or 8.02 in respect of Letters of Credit or Swing Line
Loans shall be held and applied to the satisfaction of the specific L/C Obligations, or Swing Line Loans, obligations to fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such
obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may be provided for herein. 

(d) Release. Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting Exposure or other obligations shall be
released promptly following (i) the elimination of the applicable Fronting Exposure or other obligations giving rise thereto (including by the termination of Defaulting Lender status of the applicable Revolving Credit Lender (or, as
appropriate, its assignee following compliance with Section 11.06(b)(vi))) or (ii) the Administrative Agent’s good faith determination that there exists excess Cash Collateral; provided, however, (x) that
Cash Collateral furnished by or on behalf of a Loan Party shall not be released during the continuance of a Default or Event of Default (and following application 

  
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as provided in this Section 2.14 may be otherwise applied in accordance with Section 8.03), and (y) the Person providing Cash Collateral and the L/C Issuer or Swing
Line Lender, as applicable, may agree that Cash Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other obligations. 

2.15. Defaulting Lenders. 

(a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then,
until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable Law: 
 (i) Waivers
and Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of “Required Lenders”, “Required
Revolving Lenders”, “Required Term Lenders” and Section 11.01. 
 (ii) Defaulting Lender
Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise)
or received by the Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts
owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C Issuer or Swing Line Lender hereunder; third, to Cash
Collateralize the L/C Issuer’s and/or Swing Line Lender’s Fronting Exposure with respect to such Defaulting Lender in accordance with the provisions of this Agreement; fourth, as the Company may request (so long as no Default or
Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the
Administrative Agent and the Company, to be held in a deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement and (y) Cash
Collateralize the L/C Issuer’s and/or Swing Line Lender’s future Fronting Exposure with respect to such Defaulting Lender with respect to future Letters of Credit issued and/or Swing Line Loans made under this Agreement, in accordance with
the provisions of this Agreement; sixth, to the payment of any amounts owing to the Lenders, the L/C Issuer or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender, the L/C Issuer or the
Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default exists, to the payment of any amounts owing to the Company as a
result of any judgment of a court of competent jurisdiction obtained by the Company against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting
Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or L/C Borrowings in respect of which such Defaulting Lender has not fully funded
its appropriate share, and (y) such Loans were made or the related 

  
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Letters of Credit were issued at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C
Obligations owed to, all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C
Obligations and Swing Line Loans are held by the Lenders pro rata in accordance with the Commitments hereunder without giving effect to Section 2.15(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting
Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash Collateral pursuant to this Section 2.15(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably
consents hereto. 
 (iii) Certain Fees. That Defaulting Lender (x) shall not be entitled to receive any
Commitment Fee pursuant to Section 2.09(a) for any period during which that Lender is a Defaulting Lender (and the Company shall not be required to pay any such fee that otherwise would have been required to have been paid to that
Defaulting Lender) and (y) shall be limited in its right to receive Letter of Credit Fees as provided in Section 2.03(i). 

(iv) Reallocation of Applicable Revolving Credit Percentages to Reduce Fronting Exposure. All or any part of such
Defaulting Lender’s participation in L/C Obligations and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders in accordance with their respective “Applicable Revolving Credit Percentage” (calculated without regard to
such Defaulting Lender’s Revolving Credit Commitment) but only to the extent that such reallocation does not cause the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Revolving Credit Lender’s
Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C Obligations, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans to exceed such
Revolving Credit Lender’s Revolving Credit Commitment. Subject to Section 11.22, no reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender
having become a Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-Defaulting Lender’s increased exposure following such reallocation. 

(b) Defaulting Lender Cure. If the Company, the Administrative Agent, Swing Line Lender and the L/C Issuer agree in writing that a
Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein (which may include arrangements with
respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative Agent may determine to be necessary to cause the
Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be held on a pro rata basis by the Lenders in accordance with their Applicable Revolving Credit Percentages (without giving effect to
Section 2.15(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Company while that
Lender was a Defaulting Lender; and 

  
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provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or
release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 
 2.16. Designated
Borrowers. 
 (a) It is acknowledged and agreed that (i) PAREXEL International Holding B.V., a private company with limited
liability (besloten vennootschap met beperkte aansprakelijkheid) organized under the laws of the Netherlands, shall continue to be a “Designated Borrower” hereunder as of the Closing Date and may receive Loans for its account on the
terms and conditions set forth in this Agreement and (ii) PAREXEL International (IRL) Limited, a single member private company limited by shares incorporated under the laws of Ireland, shall, effective as of the Closing Date, be a
“Designated Borrower” hereunder and may receive Loans for its account on the terms and conditions set forth in this Agreement. 

(b) Subject to the provisions of this Section 2.16(b), the Company may at any time, upon not less than 10 Business Days’ notice from
the Company to the Administrative Agent (or such shorter period as may be agreed by the Administrative Agent in its sole discretion), designate any one or more additional Subsidiaries of the Company (an “Applicant Borrower”) as a
Designated Borrower to receive Loans or other applicable Credit Extensions hereunder by delivering to the Administrative Agent (which shall promptly deliver counterparts thereof to each Lender) a duly executed notice and agreement in substantially
the form of Exhibit G (a “Designated Borrower Request and Assumption Agreement”). The parties hereto acknowledge and agree that prior to any Applicant Borrower becoming entitled to utilize the credit facilities provided for herein
(A) the Administrative Agent and the Lenders shall have received such supporting resolutions, incumbency certificates, opinions of counsel and other documents or information, in form, content and scope reasonably satisfactory to the
Administrative Agent, as may be required by the Administrative Agent or the Required Lenders in their reasonable discretion, and Notes signed by such new Borrowers to the extent any Lenders so require and (B) the Lenders shall have received
satisfactory documentation and information required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including, without limitation, the Patriot Act. Provided that each Lender
is permitted under applicable Law to make Loans and other applicable Credit Extensions to such Applicant Borrower in accordance with the terms of this Agreement and the other Loan Documents on the effective date specified below, if the
Administrative Agent and the Required Lenders agree that an Applicant Borrower shall be entitled to receive Loans or other applicable Credit Extensions hereunder, then promptly following receipt of all such requested resolutions, incumbency
certificates, opinions of counsel and other documents or information, the Administrative Agent shall send a notice in substantially the form of Exhibit H (a “Designated Borrower Notice”) to the Company and all the Lenders specifying
the effective date upon which the Applicant Borrower shall constitute a Designated Borrower for purposes hereof, whereupon each of the Lenders agrees to permit such Designated Borrower to receive Loans or other applicable Credit Extensions
hereunder, on the terms and conditions set forth herein, and each of the parties agrees that such Designated Borrower otherwise shall be a Borrower for all purposes of this Agreement; provided that (i) no Committed Loan Notice or Letter of
Credit Application may be submitted by or on behalf of such Designated Borrower until the date five Business Days after such effective date and (ii) for the avoidance of any doubt, no such Applicant Borrower

  
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shall be a Designated Borrower hereunder if any Lender is at such effective date prohibited under applicable Law to make Loans and other applicable Credit Extensions to such Applicant Borrower in
accordance with the terms of this Agreement and the other Loan Documents (notwithstanding any agreement by the Administrative Agent and the Required Lenders that such Applicant Borrower shall be entitled to receive Loans hereunder); and provided
further, that effective as of the date hereof, the Administrative Agent and the Required Lenders agree that each of the Subsidiaries listed on Schedule 5.12 may become a “Designated Borrower” pursuant hereto (subject to satisfaction
of the other conditions set forth in this Section 2.16) without any requirement of further consent from the Required Lenders or the Administrative Agent so long as such Subsidiary is either a Domestic Subsidiary or a Subsidiary organized
under the laws of the United Kingdom, Ireland, the Netherlands, or a jurisdiction in which each Lender is, at such effective date, permitted under applicable Law to make Loans and other applicable Credit Extensions to such Subsidiary in accordance
with the terms of this Agreement and the other Loan Documents. 
 (c) The Obligations of the Company and each Designated Borrower that is a
Domestic Subsidiary shall be joint and several in nature. The Obligations of all Designated Borrowers that are Foreign Subsidiaries shall be several in nature. 

(d) Each Subsidiary of the Company that is or becomes a “Designated Borrower” pursuant to this Section 2.16 hereby
irrevocably appoints the Company as its agent for all purposes relevant to this Agreement and each of the other Loan Documents, including (i) the giving and receipt of notices, (ii) the execution and delivery of all documents, instruments
and certificates contemplated herein and all modifications hereto, and (iii) the receipt of the proceeds of any Loans made by the Lenders to any such Designated Borrower hereunder. Any acknowledgment, consent, direction, certification or other
action which might otherwise be valid or effective only if given or taken by all Borrowers, or by each Borrower acting singly, shall be valid and effective if given or taken only by the Company, whether or not any such other Borrower joins therein.
Any notice, demand, consent, acknowledgement, direction, certification or other communication delivered to the Company in accordance with the terms of this Agreement shall be deemed to have been delivered to each Designated Borrower. 

(e) The Company may from time to time, upon not less than 10 Business Days’ notice from the Company to the Administrative Agent (or such
shorter period as may be agreed by the Administrative Agent in its sole discretion), terminate a Designated Borrower’s status as such, provided that there are no outstanding Loans payable by such Designated Borrower, or other amounts payable by
such Designated Borrower on account of any Loans made to it, as of the effective date of such termination. The Administrative Agent will promptly notify the Lenders of any such termination of a Designated Borrower’s status and shall execute
such instruments or agreements reasonably requested by the Company evidencing such release. 
 2.17. Increase in Revolving Credit
Facility. 
 (a) Request for Increase. Provided there exists no Default or Event of Default, upon notice to the Administrative
Agent (which shall promptly notify the Revolving Credit Lenders), the Company may, not more than four (4) times (including all such requests made pursuant to Section 2.18(a) below) after the Closing Date over the term of this
Agreement, request an 

  
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increase in the Revolving Credit Facility by an aggregate amount (for all such requests) not to exceed $300,000,000; provided that (i) in no event shall the Revolving Credit Facility
(after giving effect to all requested increases therein) exceed $650,000,000 and (ii) in no event shall the aggregate amount of increases in respect of the Revolving Credit Facility effected under this Section 2.17(a), plus
the aggregate amount of increases in respect of the Term Facility effected under Section 2.18(a) exceed $300,000,000. At the time of sending such notice, the Company (in consultation with the Administrative Agent) shall specify the time
period within which each Revolving Credit Lender is requested to respond (which shall in no event be less than ten Business Days from the date of delivery of such notice to the Revolving Credit Lenders). 

(b) Lender Elections to Increase. Each Revolving Credit Lender shall notify the Administrative Agent within such time period whether or
not it agrees to increase its Revolving Credit Commitment and, if so, whether by an amount equal to, greater than, or less than its Applicable Revolving Credit Percentage of such requested increase, provided however that no Revolving
Credit Lender shall be obligated to increase its Revolving Credit Commitment. Any Revolving Credit Lender not responding within such time period shall be deemed to have declined to increase its Revolving Credit Commitment. 

(c) Notification by Administrative Agent; Additional Revolving Credit Lenders. The Administrative Agent shall notify the Company and
each Revolving Credit Lender of the Revolving Credit Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative Agent, the Swing Line Lender and the
L/C Issuer (which approvals shall not be unreasonably withheld), the Company may also invite additional Eligible Assignees, or any other Person (other than the Company or any Affiliate of the Borrower) reasonably acceptable to the Administrative
Agent, the Swing Line Lender and the L/C Issuer (together with any existing Revolving Credit Lender participating in any such increase, each, an “Increasing Revolving Credit Lender”) to become Revolving Credit Lenders pursuant to a
joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 
 (d) Effective Date and
Allocations. If the Revolving Credit Facility is increased in accordance with this Section, the Administrative Agent and the Company shall determine (i) the final allocation of such increase among Increasing Revolving Credit Lenders and
Schedule 2.01 shall be automatically updated to reflect the same and (ii) the effective date (the “Revolving Credit Increase Effective Date”) of any such increase. The Administrative Agent shall promptly notify the
Company and the Revolving Credit Lenders of the final allocation of such increase and the Revolving Credit Increase Effective Date. 
 (e)
Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Company shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Revolving Credit Increase Effective Date signed by a
Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such increase, and (ii) in the case of the Company, certifying that, before and after giving effect
to such increase, (A) the representations and warranties contained in Article V and the other Loan Documents are true and correct on and as of the Revolving Credit Increase Effective Date, except to the extent that such representations
and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for 

  
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purposes of this Section 2.17, the representations and warranties contained in subsections (a) and (b) of Section 5.04 shall be deemed to refer to the most
recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, (B) the Company shall be in pro forma compliance with each of the financial covenants set forth in Section 7.11 after
giving effect to any such increase and (C) no Default or Event of Default exists. The Borrowers shall prepay any Revolving Credit Loans outstanding on the Revolving Credit Increase Effective Date (and pay any additional amounts required
pursuant to Section 3.05) to the extent necessary to keep the outstanding Revolving Credit Loans ratable with any revised Applicable Revolving Credit Percentages arising from any nonratable increase in the Revolving Credit Commitments
under this Section. 
 (f) Term of Increase. Any incremental Revolving Credit Loans made pursuant to any increase in the Revolving
Credit Facility shall be made on the same terms (including, without limitation, interest terms, payment terms and maturity terms), and shall be subject to the same conditions as existing Revolving Credit Loans (it being understood that customary
arrangement or commitment fees payable to one or more Arrangers (or their Affiliates) or one or more Increasing Revolving Credit Lenders, as the case may be, may be different than those paid with respect to the Lenders under the Revolving Credit
Facility on or prior to the Closing Date or with respect to any other Increasing Revolving Credit Lender in connection with any other increase in the Revolving Credit Facility pursuant to this Section 2.17). 

(g) Conflicting Provisions. This Section shall supersede any provisions in Section 2.13 or 11.01 to the contrary.

 2.18. Increase in Term Facility. 

(a) Request for Increase. Provided there exists no Default or Event of Default, upon notice to the Administrative Agent (which shall
promptly notify the Term Lenders), the Company may, not more than four (4) times (including all such requests made pursuant to Section 2.17(a) above) after the Closing Date over the term of this Agreement, request an increase in the
Term Facility by an aggregate amount (for all such requests) not to exceed $300,000,000; provided that (i) in no event shall the Term Facility (after giving effect to all requested increases therein) exceed an amount equal to
$700,000,000 and (ii) in no event shall the aggregate amount of increases in respect of the Term Facility effected under this Section 2.18(a), plus the aggregate amount of increases in respect of the Revolving Credit Facility
effected under Section 2.17(a) exceed $300,000,000. At the time of sending such notice, the Company (in consultation with the Administrative Agent) shall specify the time period within which each Term Lender is requested to respond
(which shall in no event be less than ten Business Days from the date of delivery of such notice to the Term Lenders). 
 (b) Lender
Elections to Increase. Each Term Lender shall notify the Administrative Agent within such time period whether or not it agrees to participate in such increase in the Term Facility and, if so, whether by an amount equal to, greater than, or less
than its Applicable Percentage of such requested increase, provided however that no Term Lender shall be obligated to provide an Incremental Term Commitment. Any Term Lender not responding within such time period shall be deemed to
have declined to participate in such increase in the Term Facility. 

  
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 (c) Notification by Administrative Agent; Additional Term Lenders. The Administrative
Agent shall notify the Company and each Term Lender of the Term Lenders’ responses to each request made hereunder. To achieve the full amount of a requested increase, and subject to the approval of the Administrative Agent (which approval shall
not be unreasonably withheld), the Company may also invite additional Eligible Assignees or any other Person (other than the Company or any Affiliate of the Borrower) reasonably acceptable to the Administrative Agent (together with any existing Term
Lender participating in any such increase, each, an “Increasing Term Lender”) to become Term Lenders pursuant to a joinder agreement in form and substance reasonably satisfactory to the Administrative Agent and its counsel. 

(d) Effective Date and Allocations. If the Term Facility is increased in accordance with this Section, the Administrative Agent and the
Borrowers shall determine (i) the final allocation of such increase among Increasing Term Lenders and Schedule 2.01 shall be automatically updated to reflect the same and (ii) the effective date (the “Term Loan Increase
Effective Date”) of any such increase. The Administrative Agent shall promptly notify the Company and the Term Lenders of the final allocation of such increase and the Term Loan Increase Effective Date. 

(e) Conditions to Effectiveness of Increase. As a condition precedent to such increase, the Company shall deliver to the Administrative
Agent a certificate of each Loan Party dated as of the Term Loan Increase Effective Date signed by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan Party approving or consenting to such
increase, and (ii) in the case of the Company, certifying that, before and after giving effect to such increase, (A) except as may be agreed to by the relevant Increasing Term Lenders, the representations and warranties contained in
Article V and the other Loan Documents are true and correct on and as of the Term Loan Increase Effective Date, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true
and correct as of such earlier date, and except that for purposes of this Section 2.18, the representations and warranties contained in subsections (a) and (b) of Section 5.04 shall be deemed to refer to the most
recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01, (B) the Company shall be in pro forma compliance with each of the financial covenants set forth in Section 7.11 after
giving effect to any such increase and (C) no Default exists. 
 (f) Term of Increase. Any Incremental Term Loans made pursuant
to any increase in the Term Facility shall be made on the same terms (including, without limitation, interest terms, payment terms and maturity terms), and shall be subject to the same conditions as existing Term Loans (it being understood that
customary arrangement or commitment fees payable to one or more arrangers (or their affiliates) or one or more Increasing Term Lenders, as the case may be, may be different than those paid with respect to the Lenders under the Term Facility on or
prior to the Closing Date or with respect to any other Increasing Term Lender in connection with any other increase in the Term Facility pursuant to this Section 2.18); provided, however, that at the election of the Company
the Incremental Term Loans may be implemented through additional new tranches of term loans (instead of being implemented as an increase in the existing Term Facility) with (i) a final maturity date occurring later than the Maturity Date for
the existing Term Facility, (ii) a longer weighted average life to maturity of such Incremental Term Loans 

  
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than the weighted average life to maturity of the existing Term Loans, (iii) interest rates and amortization schedules applicable to such Incremental Term Loans determined by the Company and
the Increasing Term Lenders, and (iv) with such other changes as may be approved by the Required Lenders. 
 (g) Conflicting
Provisions. This Section shall supersede any provisions in Section 2.13 or 11.01 to the contrary. Notwithstanding any other provision of any Loan Document to the contrary, the Loan Documents may be amended by the
Administrative Agent, the Company and the applicable Increasing Term Lenders to provide for terms applicable to each Incremental Term Loan in accordance with the terms set forth in Section 2.18(f) as the Company and the Administrative
Agent shall deem necessary or advisable to reflect the establishment of any such new tranche of Incremental Term Loans. The Incremental Term Loans shall in all cases rank pari passu in right of payment with the Revolving Credit Loans and the
existing Term Loans 
 ARTICLE III. 

TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01. Taxes. (a) Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes. (i) Any and all
payments by or on account of any obligation of any Loan Party under any Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable Laws. If any applicable Laws (as determined in the good faith
discretion of the Administrative Agent or the applicable Loan Party) require the deduction or withholding of any Tax from any such payment by the Administrative Agent or a Loan Party, then the Administrative Agent or such Loan Party shall be
entitled to make such deduction or withholding, upon the basis of the information and documentation to be delivered pursuant to subsection (e) below. 

(ii) If any Loan Party or the Administrative Agent shall be required by the Code to withhold or deduct any Taxes, including
both United States Federal backup withholding and withholding taxes, from any payment, then (A) the Administrative Agent shall withhold or make such deductions as are determined by the Administrative Agent to be required based upon the
information and documentation it has received pursuant to subsection (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with the Code,
and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all required
deductions with respect to Indemnified Taxes (including deductions with respect to Indemnified Taxes applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would
have received had no such withholding or deduction been made. 
 (iii) If any Loan Party or the Administrative Agent shall be
required by any applicable Laws other than the Code to withhold or deduct any Taxes from any payment, then (A) such Loan Party or the Administrative Agent, as required by such Laws, shall withhold or make such deductions as are determined by it
to be required based upon the information and documentation it has received pursuant to subsection (e) below, (B) such 

  
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Loan Party or the Administrative Agent, to the extent required by such Laws, shall timely pay the full amount withheld or deducted to the relevant Governmental Authority in accordance with such
Laws, and (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after any required withholding or the making of all
required deductions with respect to Indemnified Taxes (including deductions with respect to Indemnified Taxes applicable to additional sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum it
would have received had no such withholding or deduction been made. 
 (iv) Each Lender which becomes a party on the day on
which this Agreement is entered into confirms, for the benefit of the Administrative Agent and without liability to the Loan Parties, that, on such date, it is a Qualifying Lender. Each Lender which becomes a party after the date of this Agreement
shall indicate which of the following categories it falls in: 
 (A) not a Qualifying Lender; 

(B) a Qualifying Lender (other than a Treaty Lender); or 

(C) a Treaty Lender. 

If a Lender fails to indicate its status in accordance with this clause, then such Lender shall be treated for the purposes of this Agreement
(including by each Borrower) as if it is not a Qualifying Lender until such time as it notifies the Borrowers which category applies. A Lender shall promptly notify the Company if there is any change in its position as a Qualifying Lender. 

(b) Payment of Other Taxes by the Loan Parties. Without limiting the provisions of subsection (a) above, the Loan Parties
shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes. 

(c) Tax Indemnifications. (i) Each of (x) the Loan Parties (other than the Foreign Obligors) shall, and does hereby, jointly
and severally, and (y) the Foreign Obligors shall, and does hereby, severally (solely, in the case of each Foreign Obligor, in respect of its relevant Indemnified Taxes), indemnify each Recipient, and shall make payment in respect thereof
within 10 days (or such longer time as the applicable Recipient may agree) after demand therefor, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or attributable to amounts payable under this
Section 3.01) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient, and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such
Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A reasonably detailed certificate as to the amount of such payment or liability delivered to the Company by a Lender or the L/C Issuer (with a
copy to the Administrative Agent), or by the Administrative Agent on its own behalf or on behalf of a Lender or the L/C Issuer, shall be conclusive absent manifest error. Each of the Loan Parties (other than the Foreign Obligors) shall, and does
hereby, jointly and severally indemnify the 

  
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Administrative Agent, and shall make payment in respect thereof within 10 days (or such longer time as the Administrative Agent shall agree) after demand therefor, for any amount which a Lender
or the L/C Issuer for any reason fails to pay indefeasibly to the Administrative Agent as required pursuant to Section 3.01(c)(ii) below. Any such claim against a Loan Party must be made within 180 days of the payment by the
Administrative Agent, the Lender, or the L/C Issuer to which such claim relates. 
 (ii) Each Lender and the L/C Issuer
shall, and does hereby, severally indemnify, and shall make payment in respect thereof within 10 days after demand therefor, (x) the Administrative Agent against any Indemnified Taxes attributable to such Lender or the L/C Issuer (but only to
the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Party to do so), (y) the Administrative Agent and the Loan Party, as applicable,
against any Taxes attributable to such Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a Participant Register and (z) the Administrative Agent and the Loan Party, as applicable,
against any Excluded Taxes attributable to such Lender or the L/C Issuer, in each case, that are payable or paid by the Administrative Agent or a Loan Party in connection with any Loan Document, and any reasonable expenses arising therefrom or with
respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender or the L/C Issuer by the
Administrative Agent shall be conclusive absent manifest error. Each Lender and the L/C Issuer hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender or the L/C Issuer, as the case may
be, under this Agreement or any other Loan Document against any amount due to the Administrative Agent under this clause (ii). 

(d) Evidence of Payments. As soon as practicable after any payment of Taxes by any Loan Party to a Governmental Authority as provided
in this Section 3.01, the Company shall deliver to the Administrative Agent, the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any return required by Laws to report
such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Status of Lenders; Tax
Documentation. 
 (i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to
payments made under any Loan Document shall deliver to the Company and the Administrative Agent, at the time or times prescribed by applicable laws or when reasonably requested by the Company or the Administrative Agent, such properly completed and
executed documentation prescribed by applicable law or the taxing authorities of a jurisdiction pursuant to such applicable law or reasonably requested by the Company or the Administrative Agent as will permit such payments to be made without
withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by the Company
or the Administrative Agent as will enable the Company or 

  
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the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding
two sentences, the completion, execution and submission of such documentation (other than such documentation either (A) set forth in Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D) below or (B) required by applicable
law other than the Code or the taxing authorities of the jurisdiction pursuant to such applicable law to comply with the requirements for exemption or reduction of withholding tax in that jurisdiction) shall not be required if in the Lender’s
reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii) Without limiting the generality of the foregoing, in the event that a Borrower is a U.S. Person, 

(A) any Lender that is a U.S. Person shall deliver to the Company and the Administrative Agent on or prior to the date on which
such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the Administrative Agent), executed copies of IRS Form W-9 certifying that
such Lender is exempt from U.S. federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally
entitled to do so, deliver to the Company and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to
time thereafter upon the reasonable request of the Company or the Administrative Agent), whichever of the following is applicable: 

(I) in the case of a Foreign Lender claiming the benefits of an income tax treaty to which the United States is a party
(x) with respect to payments of interest under any Loan Document, executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal withholding Tax pursuant to the
“interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 
 (II)
executed copies of IRS Form W-8ECI; 
 (III) in the case of a Foreign Lender claiming the benefits of the exemption for
portfolio interest under Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit I-1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of
the Code, a “10 percent shareholder” of the Company 

  
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within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance
Certificate”) and (y) executed copies of IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable; or 

(IV) to the extent a Foreign Lender is not the beneficial owner, executed copies of IRS
Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-2 or
Exhibit I-3, IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are
claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit I-4 on behalf of each such direct and indirect partner; 

(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Company and the Administrative
Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Company or the
Administrative Agent), executed copies of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be
prescribed by applicable law to permit the Company or the Administrative Agent to determine the withholding or deduction required to be made; and 

(D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if
such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Company and the Administrative Agent
at the time or times prescribed by law and at such time or times reasonably requested by the Company or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code)
and such additional documentation reasonably requested by the Company or the Administrative Agent as may be necessary for the Company and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include any amendments made to FATCA after the
date of this Agreement. For purposes of determining withholding Taxes imposed under FATCA, from and after the Closing Date, the Borrowers and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat)
this Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).” 

  
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 (iii) Each Lender agrees that if any form or certification it previously
delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Company and the Administrative Agent in writing of its legal inability to
do so. 
 (f) Treatment of Certain Refunds. Unless required by applicable Laws, at no time shall the Administrative Agent have any
obligation to file for or otherwise pursue on behalf of a Lender or the L/C Issuer, or have any obligation to pay to any Lender or the L/C Issuer, any refund of Taxes withheld or deducted from funds paid for the account of such Lender or the L/C
Issuer, as the case may be. If any Recipient determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has
paid additional amounts pursuant to this Section 3.01, it shall pay to such Loan Party an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by a Loan Party under this
Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) incurred by such Recipient, and without interest (other than any interest paid by the relevant Governmental Authority
with respect to such refund), provided that each Loan Party, upon the request of the Recipient, agrees to repay the amount paid over to such Loan Party (plus any penalties, interest or other charges imposed by the relevant Governmental
Authority) to the Recipient in the event the Recipient is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this subsection, in no event will the applicable Recipient be required to pay any
amount to such Loan Party pursuant to this subsection the payment of which would place the Recipient in a less favorable net after-Tax position than such Recipient would have been in if the Tax subject to indemnification and giving rise to such
refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This subsection shall not be construed to require any Recipient to make available its
tax returns (or any other information relating to its taxes that it deems confidential) to any Loan Party or any other Person. 
 (g)
Survival. Each party’s obligations under this Section 3.01 shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or the L/C Issuer, the
termination of the Commitments and the repayment, satisfaction or discharge of all other Obligations. 
 3.02. Illegality. If any
Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to perform any of its obligations hereunder or make, maintain or fund or charge
interest with respect to any Credit Extension, or to determine or charge interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take
deposits of, Dollars or any Alternative Currency in the applicable interbank market, then, on notice thereof by such Lender to the Company through the Administrative Agent, (i) any obligation of such Lender to issue, make, maintain, fund or
charge interest with respect to any such Credit Extension or continue Eurocurrency Rate Loans in the affected currency or currencies or, in the case of Eurocurrency Rate Loans in Dollars, to convert Base Rate Loans to Eurocurrency Rate Loans shall
be suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining 

  
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Base Rate Loans the interest rate on which is determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if
necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the Company that the
circumstances giving rise to such determination no longer exist. Upon receipt of such notice, (x) the Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay all such Eurocurrency Rate Loans or, if
applicable and such Loans are denominated in Dollars, convert all such Eurocurrency Rate Loans of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such illegality, be determined
by the Administrative Agent without reference to the Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurocurrency Rate Loans to such day, or
immediately, if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (y) if such notice asserts the illegality of such Lender determining or charging interest rates based upon the Eurocurrency Rate, the
Administrative Agent shall during the period of such suspension compute the Base Rate applicable to such Lender without reference to the Eurocurrency Rate component thereof until the Administrative is advised in writing by such Lender that it is no
longer illegal for such Lender to determine or charge interest rates based upon the Eurocurrency Rate. Upon any such prepayment or conversion, the Borrowers shall also pay accrued interest on the amount so prepaid or converted. 

3.03. Inability to Determine Rates. If in connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation
thereof, (a) the Administrative Agent determines that (i) deposits (whether in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore interbank market for such currency for the applicable amount and
Interest Period of such Eurocurrency Rate Loan, or (ii) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan (whether denominated in
Dollars or an Alternative Currency), or in connection with an existing or proposed Base Rate Loan (in each case with respect to clause (a) above, “Impacted Loans”), or (b) the Administrative Agent or the Required Lenders
determine that for any reason the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent
will promptly so notify the Company and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurocurrency Rate Loans in the affected currency or currencies shall be suspended (to the extent of the affected currency or
currencies or Interest Periods), and (y) in the event of a determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in determining the
Base Rate shall be suspended, in each case until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Company may revoke any pending request for a Borrowing of, conversion to
or continuation of Eurocurrency Rate Loans (to the extent of the in the affected currency or currencies or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans (in the
case of any Eurocurrency Rate Loan) in the amount specified therein. 

  
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 Notwithstanding the foregoing, if the Administrative Agent has made the determination described
in this section, the Administrative Agent, in consultation with the Company and the Required Lenders, may establish an alternative interest rate for the Impacted Loans, in which case, such alternative rate of interest shall apply with respect
to the Impacted Loans until (1) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (a) of the first sentence of this section, (2) the Administrative Agent or the Required Lenders
notify the Administrative Agent and the Company that such alternative interest rate does not adequately and fairly reflect the cost to such Lenders of funding the Impacted Loans, or (3) any Lender determines that any Law has made it unlawful,
or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or to determine or
charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing (each of the foregoing restrictions in this clause (3), an “Alternate
Interest Rate Restriction”) and provides the Administrative Agent and the Company written notice thereof. 
 3.04. Increased
Costs; Reserves on Eurocurrency Rate Loans. 
 (a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by Section 3.04(e), other than as set forth below) or the L/C Issuer; 

(ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes described in clauses
(b) through (d) of the definition of Excluded Taxes and (C) Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital
attributable thereto; or 
 (iii) impose on any Lender or the L/C Issuer or the London interbank market any other condition,
cost or expense affecting this Agreement or Eurocurrency Rate Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result
of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or the L/C Issuer of participating in, issuing or
maintaining any Letter of Credit (or of maintaining its obligation to participate in Letter of Credit or to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by such Lender or the L/C Issuer hereunder (whether of
principal, interest or any other amount) then, upon request of such Lender or the L/C Issuer, the Company will pay (or cause the applicable Designated Borrower to pay) to such Lender (including, the Swing line Lender) or the L/C Issuer, as the case
may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer, as the case may be, for such additional costs actually incurred or reduction actually suffered. A Lender’s claim for additional amounts pursuant to this
Section 3.04(a) shall be generally consistent with 

  
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such Lender’s treatment of borrowers (that such Lender considers, in its reasonable discretion, to be similarly situated as the Company or the other Borrowers) under other syndicated credit
facilities that such Lender is a lender under. 
 (b) Capital Requirements. If any Lender or the L/C Issuer determines that any
Change in Law affecting such Lender or the L/C Issuer or any Lending Office of such Lender or such Lender’s or the L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing
the rate of return on such Lender’s or the L/C Issuer’s capital or on the capital of such Lender’s or the L/C Issuer’s holding company, if any, as a consequence of this Agreement, the Commitments of such Lender or the Loans made
by, or participations in Letters of Credit or Swing Line Loans held by, such Lender, or the Letters of Credit issued by the L/C Issuer, to a level below that which such Lender or the L/C Issuer or such Lender’s or the L/C Issuer’s holding
company could have achieved but for such Change in Law (taking into consideration such Lender’s or the L/C Issuer’s policies and the policies of such Lender’s or the L/C Issuer’s holding company with respect to capital adequacy
and liquidity), then from time to time the Company will pay (or cause the applicable Designated Borrower to pay) to such Lender or the L/C Issuer, as the case may be, such additional amount or amounts as will compensate such Lender or the L/C Issuer
or such Lender’s or the L/C Issuer’s holding company for any such reduction suffered. 
 (c) Certificates for
Reimbursement. A certificate of a Lender or the L/C Issuer setting forth the amount or amounts necessary to compensate such Lender or the L/C Issuer or its holding company, as the case may be, as specified in subsection (a) or (b) of
this Section and delivered to the Company shall be conclusive absent manifest error. The Company shall pay (or cause the applicable Designated Borrower to pay) such Lender or the L/C Issuer, as the case may be, the amount shown as due on any such
certificate within 10 days (or such longer time as such Lender or the L/C Issuer, as the case may be, shall agree) after receipt thereof. 

(d) Delay in Requests. Failure or delay on the part of any Lender or the L/C Issuer to demand compensation pursuant to the foregoing
provisions of this Section 3.04 shall not constitute a waiver of such Lender’s or the L/C Issuer’s right to demand such compensation, provided that no Borrower shall be required to compensate a Lender or the L/C Issuer
pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than 180 days prior to the date that such Lender or the L/C Issuer, as the case may be, notifies the Company of the Change in Law
giving rise to such increased costs or reductions and of such Lender’s or the L/C Issuer’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then
the 180-day period referred to above shall be extended to include the period of retroactive effect thereof). 
 (e) Reserves. The
Company shall pay (or cause the applicable Designated Borrower to pay) to each Lender (without duplication of any amounts otherwise paid to such Lender and attributable to Mandatory Costs), (i) as long as such Lender shall be required to
maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate
Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which 

  
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determination shall be conclusive absent manifest error), and (ii) as long as such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other
central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a percentage per annum and rounded upwards, if necessary,
to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which in each case shall be due and payable on
each date on which interest is payable on such Loan, provided the Company shall have received at least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender. If a Lender
fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or costs shall be due and payable 10 days from receipt of such notice. 

(f) Mandatory Costs. If any Lender or the L/C Issuer incurs any Mandatory Costs attributable to the Obligations, then, upon notice
from such Lender or L/C Issuer (a copy of which shall be provided to the Administrative Agent), the Company will pay (or cause the applicable Designated Borrower to pay) to such Lender or the L/C Issuer, as the case may be, such Mandatory Costs in
an amount equal to the actual amount of such Mandatory Costs incurred by such Lender or L/C Issuer on each Interest Payment Date (or, as applicable, each date the Letter of Credit Fee is due and payable) with respect such Obligations. Such
amount shall be expressed as a percentage rate per annum and shall be payable on the full amount of the applicable Obligations subject to such Mandatory Costs. 

3.05. Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Company shall
promptly compensate (or cause the applicable Designated Borrower to compensate) such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: 

(a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate Loan on a day other than the last day of the
Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
 (b) any failure by any
Borrower (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Company or the applicable Designated Borrower; 

(c) any failure by any Borrower to make payment of any Loan or drawing under any Letter of Credit (or interest due thereon) denominated in an
Alternative Currency on its scheduled due date or any payment thereof in a different currency; or 
 (d) any assignment of a Eurocurrency
Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Company pursuant to Section 11.13; 

including any foreign exchange losses and any loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain such Loan, from
fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign exchange contract. The Company shall also pay (or cause the applicable Designated Borrower to pay) any customary administrative fees
charged by such Lender in connection with the foregoing. 

  
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 For purposes of calculating amounts payable by the Company (or the applicable Designated Borrower) to the Lenders
under this Section 3.05, each Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the applicable offshore interbank market for
such currency for a comparable amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded. 

3.06. Mitigation Obligations; Replacement of Lenders. (a) Designation of a Different Lending Office. Each Lender may make
any Credit Extension to the Borrowers through any Lending Office, provided that the exercise of this option shall not affect the obligation of the Borrowers to repay the Credit Extension in accordance with the terms of this Agreement. If any Lender
requests compensation under Section 3.04, charges a Borrower for Mandatory Costs hereunder, or requires any Borrower to pay any Indemnified Taxes or additional amounts to any Lender, the L/C Issuer, or any Governmental Authority for the
account of any Lender or the L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant to Section 3.02 or provides a notice of an Alternate Interest Rate Restriction, then at the request of the Company
such Lender or the L/C Issuer shall, as applicable, use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or
affiliates, if, in the judgment of such Lender or the L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate
the need for the notice pursuant to Section 3.02 or the notice of an Alternate Interest Rate Restriction, as applicable, and (ii) in each case, would not subject such Lender or the L/C Issuer, as the case may be, to any unreimbursed
cost or expense and would not otherwise be disadvantageous to such Lender or the L/C Issuer, as the case may be. The Company hereby agrees to pay (or to cause the applicable Designated Borrower to pay) all reasonable costs and expenses incurred by
any Lender or the L/C Issuer in connection with any such designation or assignment. 
 (b) Replacement of Lenders. If any Lender
requests compensation under Section 3.04, or provides a notice under Section 3.02 or provides a notice of an Alternate Interest Rate Restriction, or if any Borrower is required to pay any Indemnified Taxes or additional
amounts to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 and, in each case, unless such Lender has designated a different lending office or assigned its rights and obligations in
accordance with Section 3.06(a), in each case where such designation or assignment would eliminate all amounts payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for any
notice pursuant to Section 3.02 or any notice of an Alternate Interest Rate Restriction, as applicable, within ten (10) Business Days after any such request by the Company, the Company may replace such Lender in accordance with
Section 11.13. 
 3.07. Survival. All of the obligations of the Loan Parties under this Article III shall
survive termination of the Aggregate Commitments, repayment of all other Obligations hereunder, and resignation of the Administrative Agent. 

  
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 ARTICLE IV. 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

4.01. Conditions of Initial Credit Extension. The obligation of the L/C Issuer and each Lender to make its initial Credit Extension
hereunder is subject to satisfaction of the following conditions precedent: 
 (a) The Administrative Agent’s receipt of the following,
each of which shall be originals or telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of certificates of
governmental officials, a recent date before the Closing Date) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders: 

(i) executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and
the Company and, if Advance Funding Arrangements shall exist with respect to funding on the Closing Date, executed Advance Funding Documentation in form and number reasonably acceptable to the Administrative Agent; 

(ii) Notes executed by the Borrowers in favor of each Lender requesting Notes; 

(iii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible
Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and the other Loan
Documents to which such Loan Party is a party or is to be a party; 
 (iv) such documents and certifications as the
Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that Loan Party is validly existing, in good standing (or equivalent concept, as, and to the extent, applicable, in the relevant
jurisdiction) and qualified to engage in business in its jurisdiction of formation or incorporation and each other jurisdiction reasonably requested by the Administrative Agent; 

(v) a favorable opinion of Wilmer Cutler Pickering Hale and Dorr LLP, counsel to the Loan Parties, addressed to the
Administrative Agent and each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to the Loan Documents and the transactions contemplated thereby as the Administrative
Agent and the Lenders shall reasonably request and such opinion shall expressly allow permitted successors and assigns of the Administrative Agent and the Lenders to rely on such opinion; 

(vi) a favorable opinion of Stek Advocaten B.V., special counsel to the Administrative Agent, addressed to the Administrative
Agent and each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to the Loan Documents and the transactions contemplated thereby as the Administrative Agent and the
Lenders shall reasonably request; 

  
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 (vii) a favorable opinion of Baker & McKenzie Amsterdam N.V., counsel to
PAREXEL International Holding B.V., addressed to the Administrative Agent and each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to the Loan Documents and the
transactions contemplated thereby as the Administrative Agent and the Lenders shall reasonably request; 
 (viii) a favorable
opinion of Matheson, counsel to PAREXEL International (IRL) Limited, addressed to the Administrative Agent and each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to
the Loan Documents and the transactions contemplated thereby as the Administrative Agent and the Lenders shall reasonably request; 

(ix) a favorable opinion of Arthur Cox, special counsel to the Administrative Agent, addressed to the Administrative Agent and
each Lender, in form and substance reasonably satisfactory to the Administrative Agent and the Lenders, covering such matters relating to the Loan Documents and the transactions contemplated thereby as the Administrative Agent and the Lenders shall
reasonably request; 
 (x) a certificate signed by a Responsible Officer of the Company certifying (A) that the
conditions specified in Sections 4.02(a) and (b) have been satisfied and (B) that there has been no event or circumstance since the date of the Audited Financial Statements that has had, either individually or in the
aggregate, a Material Adverse Effect; 
 (xi) certificate of a Financial Officer the Company, certifying that the Company is,
and the Company and its Subsidiaries on a consolidated basis are, Solvent both before and after giving effect to the Transactions; 

(xii) a certificate signed by a Responsible Officer of PAREXEL International (IRL) Limited regarding Section 239 of the
Irish Companies Act 2014 (as amended) and (b) a certificate signed by a Responsible Officer of PAREXEL International (IRL) Limited confirming that none of the proceeds of the Loans and none of the Letters of Credit have been used, will be used,
is being used or will be used at any time in any way which would constitute “financial assistance” within the meaning of, and as prohibited by Section 82 of the Irish Companies Act 2014 (as amended) (“Section 82”) or
which would result in the Loan Documents (including without limitation the collateral, guarantees and indemnities thereby created) contravening Section 82; and 

(xiii) such other assurances, certificates, documents, consents or opinions as the Administrative Agent, the L/C Issuer, the
Swing Line Lender or any Lender reasonably may require. 
 (b) (i) All fees required to be paid to the Administrative Agent and the
Arrangers on or before the Closing Date shall have been paid, (ii) all fees required to be paid to the Lenders 

  
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on or before the Closing Date shall have been paid and (iii) unless waived by the Administrative Agent, the Company shall have paid all reasonable fees, charges and disbursements of counsel
to the Administrative Agent (directly to such counsel if requested by the Administrative Agent). 
 (c) All accrued interest, fees and other
charges to the Closing Date under the Existing Credit Agreement shall have been paid to the Administrative Agent for the account of the Lenders, the L/C Issuer and the Swing Line Lender. 

(d) The Arrangers shall have received all documentation and other information that the Arrangers may reasonably request in order to comply
with any applicable “know your customer” and anti-money-laundering rules and regulations, including, without limitation, the PATRIOT Act. 

Without limiting the generality of the provisions of the last paragraph of Section 9.03, (i) for purposes of determining compliance with the
conditions specified in this Section 4.01, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented
to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto and (ii) in the event that Advance
Funding Arrangements shall exist, the delivery by any Lender (x) of funds pursuant to such Advance Funding Arrangements (“Advance Funds”) and (y) its signature page to this Agreement shall constitute the request, consent
and direction by such Lender to the Administrative Agent (unless expressly revoked by written notice from such Lender received by the Administrative Agent prior to the earlier to occur of funding or the Administrative Agent’s declaration that
this Agreement is effective) to withdraw and release to the Borrowers on the Closing Date the applicable funds of such Lender to be applied to the funding of Loans by such Lender in accordance with Section 2.02 upon the Administrative
Agent’s determination (made in accordance with and subject to the terms of this Agreement) that it has received all items expressly required to be delivered to it under this Section 4.01. 

4.02. Conditions to all Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a
Committed Loan Notice (x) requesting only a conversion of Loans to the other Type, or a continuation of Eurocurrency Rate Loans or (y) requesting a Term Borrowing under an increase in the Term Facility pursuant to the proviso contained in
Section 2.18(f)) is subject to the following conditions precedent: 
 (a) The representations and warranties of the Borrowers
and each other Loan Party contained in this Agreement, shall be true and correct on and as of the date of such Credit Extension, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they
shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in Sections 5.04(a) and (b) shall be deemed to refer to the most
recent statements furnished pursuant to Sections 6.01(a) and (b), respectively. 

  
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 (b) No Default or Event of Default shall exist, or would result from such proposed Credit
Extension or from the application of the proceeds thereof. 
 (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing
Line Lender shall have received a Request for Credit Extension in accordance with the requirements hereof. 
 (d) If the applicable Borrower
is a Designated Borrower (other than PAREXEL International Holding B.V. and PAREXEL International (IRL) Limited), then the conditions of Section 2.16 to the designation of such Borrower as a Designated Borrower shall have been met to the
satisfaction of the Administrative Agent. 
 (e) In the case of a Credit Extension to be denominated in an Alternative Currency, there shall
not have occurred any change in national or international financial, political or economic conditions or currency exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent, the Required Lenders (in the case of
any Loans to be denominated in an Alternative Currency), or the L/C Issuer (in the case of any Letter of Credit to be denominated in an Alternative Currency) would make it impracticable for such Credit Extension to be denominated in the relevant
Alternative Currency. 
 Each Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Loans to the
other Type or a continuation of Eurocurrency Rate Loans) submitted by the Company shall be deemed to be a representation and warranty by the Company that the conditions specified in Sections 4.02(a) and (b) have been satisfied on
and as of the date of the applicable Credit Extension. 
 ARTICLE V. 

REPRESENTATIONS AND WARRANTIES 

The Company and each other Loan Party represents and warrants to the Administrative Agent and the Lenders that: 

5.01. Organization; Powers. Each Borrower and each Material Subsidiary is duly organized, validly existing and in good standing (to the
extent such good standing is recognized under an applicable jurisdiction) under the laws of the jurisdiction of its organization, and has all requisite power and authority to carry on its business as now conducted. Each Subsidiary other than a
Material Subsidiary is duly organized, validly existing and in good standing (to the extent such good standing is recognized under an applicable jurisdiction) under the laws of the jurisdiction of its organization, and has all requisite power and
authority to carry on its business as now conducted, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. Except where the failure to do so, individually or in
the aggregate, could not reasonably be expected to result in a Material Adverse Effect, each Loan Party and each Subsidiary is qualified to do business in, and is in good standing in, every jurisdiction where such qualification is required. 

5.02. Authorization; Enforceability. The Transactions are within each Loan Party’s corporate powers and have been duly authorized
by all necessary corporate and, if required, stockholder action. This Agreement has been, and each other Loan Document, when delivered 

  
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hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a
legal, valid and binding obligation of each such Loan Party, enforceable against each such Loan Party that is party thereto in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Debtor Relief
Laws and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at Law. 
 5.03.
Governmental Approvals; No Conflicts. The Transactions (a) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full
force and effect, (b) will not violate any applicable Law or the Organizational Documents of the Company or any of its Subsidiaries or any order of any Governmental Authority, (c) will not violate or result in a default under any
indenture, agreement or other instrument binding upon the Company or any of its Subsidiaries or their assets, or give rise to a right thereunder to require any payment to be made by the Company or any of its Subsidiaries, and (d) will not
result in the creation or imposition of any Lien on any asset of the Company or any of its Subsidiaries. 
 5.04. Financial Statements;
No Material Adverse Effect. (a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly
present in all material respects the financial condition of the Company and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in accordance with GAAP consistently applied throughout the period
covered thereby, except as otherwise expressly noted therein; and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Company and its Subsidiaries as of the date thereof, including material liabilities for
taxes, material commitments and material Indebtedness. 
 (b) The unaudited consolidated balance sheet of the Company and its Subsidiaries,
as and when delivered pursuant to Section 6.01(b), and the related consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance
with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of the Company and its Subsidiaries as of the date
thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 

(c) Since the date of the Audited Financial Statements, there has been no event or circumstance, either individually or in the aggregate, that
has had a Material Adverse Effect. 
 5.05. Properties. 

(a) Each of the Company and its Subsidiaries has good title to, or valid leasehold interests in, all its real and personal property material
to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes. 

  
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 (b) The Company and its Subsidiaries owns, or is licensed to use, all trademarks, tradenames,
copyrights, patents and other intellectual property for its business, and the use thereof by the Company and its Subsidiaries does not infringe upon the rights of any other Person, except where the failure to so own or license or such infringements,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 5.06. Litigation and
Environmental Matters. 
 (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending
against or, to the knowledge of any Loan Party, threatened against or affecting the Company or any of its Subsidiaries (i) that would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than
such matters disclosed on Schedule 5.06 (collectively, the “Disclosed Matters”)) or (ii) that involve this Agreement, the other Loan Documents or any of the Transactions. 

(b) Except for the Disclosed Matters and except with respect to any other matters that, individually or in the aggregate, could not reasonably
be expected to result in a Material Adverse Effect, neither the Company nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain, maintain or comply with any permit, license or other approval required under
any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability or (iv) knows of any basis for any Environmental Liability. 

(c) Since the date of this Agreement, there has been no change in the status of the Disclosed Matters that, individually or in the aggregate,
has resulted in, or materially increased the likelihood of, a Material Adverse Effect. 
 5.07. Compliance with Laws and Agreements; No
Default. Each of the Company and its Subsidiaries is in compliance with all Laws applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is continuing. 

5.08. Investment Company Status. Neither the Company nor any of its Subsidiaries is an “investment company” as defined in, or
subject to regulation under, the Investment Company Act of 1940. 
 5.09. Taxes. Each of the Company and its Subsidiaries has timely
filed or caused to be filed all Tax returns and reports required to have been filed (within any applicable extension) and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in
good faith by appropriate proceedings and for which the Company or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a
Material Adverse Effect. 
 5.10. ERISA Compliance. (a) Each Plan is in compliance in all respects with the applicable
provisions of ERISA, the Code and other Federal or state laws, except in each case where the failure to do so could not reasonably be expected to result in a Material Adverse Effect. Each Pension Plan that is intended to be a qualified plan under
Section 401(a) of the 

  
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Code has received a favorable determination or opinion letter from the Internal Revenue Service to the effect that the form (or prototype form) of such Pension Plan is qualified under
Section 401(a) of the Code and the trust related thereto has been determined by the Internal Revenue Service to be exempt from Federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being
processed by the Internal Revenue Service or is not yet due. To the best knowledge of the Loan Parties, nothing has occurred that would prevent or cause the loss of such tax-qualified status. The representations in this Section 5.10(a)
are limited with respect to Multiemployer Plans by events that a Loan Party knows about. 
 (b) There are no pending or, to the best
knowledge of the Loan Parties, threatened claims, actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no prohibited transaction or
violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(c) (i) No ERISA Event has occurred, and neither the Loan Parties nor any ERISA Affiliate has knowledge of any fact, event or circumstance
that could reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) each Loan Party and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each
Pension Plan, and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined
in Section 430(d)(2) of the Code) is 60% or higher and neither the Loan Parties nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such plan to
drop below 60% as of the most recent valuation date; (iv) neither the Loan Parties nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which have become due
that are unpaid; (v) neither the Loan Parties nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by the plan
administrator thereof nor by the PBGC, and (vii) no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan; in each case,
provided that this Section 5.10(c) is limited only as to events that a Loan Party knows with respect to any Multiemployer Plan. 

(d) Neither the Loan Parties nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or
liability under, any active or terminated Pension Plan other than Pension Plans not otherwise prohibited by this Agreement. 
 (e) Each
Non-U.S. Plan has been maintained in compliance with its terms and with the requirements of any and all applicable laws, statutes, rules, regulations and orders and has been maintained, where required, in good standing with applicable regulatory
authorities, except as could not reasonably be expected to result in a Material Adverse Effect. All contributions required to be made with respect to a Non-U.S. Plan have been timely made, except as could not reasonably be expected to result in a
Material Adverse Effect. No Loan Party, nor any Subsidiary of any Loan Party, has incurred any obligation in connection with the termination of, or withdrawal from, any Non-U.S. Plan, except as could not reasonably be

  
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expected to result in a Material Adverse Effect. The present value of the accrued benefit liabilities (whether or not vested) under each Non-U.S. Plan, does not exceed the current value of the
assets of such Non-U.S. Plan allocable to such benefit liabilities, except as could not reasonably be expected to result in a Material Adverse Effect. 

5.11. Disclosure. No report, financial statement, certificate or other information furnished by or on behalf of any Loan Party to the
Administrative Agent or any Lender in connection with the negotiation of this Agreement or delivered hereunder (as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that (a) with respect to projected financial information, each Loan Party represents only that such
information was prepared in good faith based upon assumptions believed to be reasonable at the time, and (b) to the extent the representations made in this Section 5.11 relate to CCT or Behavioral and Medical Research, LLC, such
representations are made to the best of the knowledge of each Loan Party. 
 5.12. Subsidiaries. As of the date hereof, Schedule
5.12 is a complete list of each of the Company’s Subsidiaries and such Subsidiary’s jurisdiction of incorporation. 
 5.13.
Margin Regulations. Neither the Company nor any of its Subsidiaries is engaged or will engage in any activities, nor shall use any portion of the proceeds of the Loans be used for any purpose, which in either case violate or are inconsistent
with the provisions of Regulations U and X of the FRB as now and from time to time hereafter in effect. 
 5.14. Anti-Corruption
Laws. The Loan Parties and their Subsidiaries have conducted their businesses in material compliance with applicable Anti-Corruption Laws and have instituted and maintained policies and procedures designed to promote and achieve compliance with
such Laws. 
 5.15. Sanctions. No Loan Party, nor any of its Subsidiaries, nor, to the knowledge of each Loan Party and its
Subsidiaries, any director, officer, employee, agent, affiliate or representative thereof, is an individual or entity currently the subject of any Sanctions, nor is any Loan Party or any Subsidiary located, organized or resident in a Designated
Jurisdiction. 
 5.16. Representations as to Foreign Obligors. Each of the Company and each Foreign Obligor represents and warrants
to the Administrative Agent and the Lenders that: 
 (a) Such Foreign Obligor is subject to civil and commercial Laws (other than a Foreign
Obligor incorporated under the laws of Ireland) with respect to its obligations under this Agreement and the other Loan Documents to which it is a party (such documents as to such Foreign Obligor, collectively, the “Applicable Foreign
Obligor Documents”), and the execution, delivery and performance by such Foreign Obligor of the Applicable Foreign Obligor Documents constitute and will constitute private and commercial acts and not public or governmental acts. Each
Foreign Obligor incorporated under the laws of Ireland is subject to the common law legal system in its jurisdiction of incorporation. Neither such Foreign Obligor nor any of its property has any immunity from jurisdiction of any court or from any
legal process (whether through service or notice, attachment prior to judgment, attachment in aid of 

  
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execution, execution or otherwise) under the laws of the jurisdiction in which such Foreign Obligor is organized and existing in respect of its obligations under the Applicable Foreign Obligor
Documents. 
 (b) This Agreement and the other Loan Documents to which each Foreign Obligor is a party (such documents as to each such
Foreign Obligor, collectively, the “Specified Foreign Obligor Documents”) are in proper legal form under the Laws of the jurisdiction in which such Foreign Obligor is organized or incorporated and existing for the enforcement
thereof against such Foreign Obligor under the Laws of such jurisdiction (and such other Law as shall be specified in such documents), and to ensure the legality, validity, enforceability, priority or admissibility in evidence of the Specified
Foreign Obligor Documents, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Debtor Relief Laws and subject to general principals of equity, regardless of whether considered in a proceeding in equity or at Law. It is
not necessary to ensure the legality, validity, enforceability, priority or admissibility in evidence of the Specified Foreign Obligor Documents that the Specified Foreign Obligor Documents be filed, registered or recorded with, or executed or
notarized before, any court or other authority in the jurisdiction in which such Foreign Obligor is organized and existing or that any registration charge or stamp or similar tax be paid on or in respect of the Specified Foreign Obligor Documents or
any other document, except for (i) any such filing, registration, recording, execution or notarization as has been made or is not required to be made until the Specified Foreign Obligor Document or any other document is sought to be enforced
and (ii) any charge or tax as has been timely paid. 
 (c) There is no tax, levy, impost, duty, fee, assessment or other governmental
charge, or any deduction or withholding, imposed by any Governmental Authority in or of the jurisdiction in which such Foreign Obligor is organized and existing either (i) on or by virtue of the execution or delivery of the Specified Foreign
Obligor Documents or (ii) on any payment to be made by such Foreign Obligor pursuant to the Specified Foreign Obligor Documents, except as has been disclosed to the Administrative Agent. 

(d) The execution, delivery and performance of the Specified Foreign Obligor Documents executed by such Foreign Obligor are, under applicable
foreign exchange control regulations of the jurisdiction in which such Foreign Obligor is organized and existing, not subject to any notification or authorization except (i) such as have been made or obtained or (ii) such as cannot be made
or obtained until a later date (provided that any notification or authorization described in clause (ii) shall be made or obtained as soon as is reasonably practicable). 

5.17. EEA Financial Institution. No Loan Party is an EEA Financial Institution. 

5.18. Irish Companies Act 2014. PAREXEL International (IRL) Limited has not and will not use the proceeds of the Credit Extensions or
utilize any Letter or Credit in any way which would constitute “financial assistance” within the meaning of, and as prohibited by Section 82 or to purchase Equity Interests issued by the Company or any Subsidiaries of the Company in
violation of Section 82. 

  
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 ARTICLE VI. 

AFFIRMATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, (except as expressly set forth herein) each Loan Party shall, and
shall cause each Subsidiary to: 
 6.01. Financial Statements. The Company will deliver to the Administrative Agent for further
distribution to each Lender: 
 (a) within 90 days after the end of each fiscal year of the Company, its audited consolidated balance sheet
and related statements of operations, stockholders’ equity and cash flows as of the end of and for such year, setting forth in each case in comparative form the figures for the previous fiscal year, all reported on by Ernst & Young LLP
or other independent public accountants of recognized national standing (without a “going concern” or like qualification or exception and without any qualification or exception as to the scope of such audit) to the effect that such
consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Company and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; and

 (b) within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Company, its consolidated balance
sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in comparative form the figures for the
corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects the financial condition and results of
operations of the Company and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 

6.02. Certificates; Other Information. The Company will deliver to the Administrative Agent for further distribution to each Lender:

 (a) concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b), commencing
with the quarter ending March 31, 2016, a duly completed Compliance Certificate, in form and substance reasonably satisfactory to the Administrative Agent, signed by a Financial Officer of the Company, and in the event of any change in GAAP
used in the preparation of such financial statements or in the application thereof, specifying the effect of such change on the financial statements accompanying such certificate (which delivery may, unless the Administrative Agent, or a Lender
requests executed originals, be by electronic communication including fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes); 

(b) promptly after the same become publicly available, copies of all periodic and other reports, proxy statements and other materials filed by
the Company or any Subsidiary with the SEC, or any Governmental Authority succeeding to any or all of the functions of the SEC, or with any national securities exchange, or distributed by the Company to its shareholders generally, as the case may
be; 
 (c) promptly, such additional information regarding the business, financial, legal or corporate affairs of any Loan Party or any
Subsidiary thereof, or compliance with the terms of the Loan Documents, as the Administrative Agent may from time to time reasonably request. 

  
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 Documents required to be delivered pursuant to Section 6.01(a) or (b) or
Section 6.02(a) and 6.02(b) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on
which the Company posts such documents, or provides a link thereto on the Company’s website on the Internet at the website address listed on Schedule 11.02; or (ii) on which such documents are posted on the Company’s behalf on
an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent). Except for such Compliance Certificates, the
Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Company with any such request for delivery,
and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 
 Each Borrower
hereby acknowledges that (a) the Administrative Agent and/or MLPFS will make available to the Lenders and the L/C Issuer materials and/or information provided by or on behalf of such Borrower hereunder (collectively, “Borrower
Materials”) by posting the Borrower Materials on IntraLinks, Syndtrak, ClearPar, or a substantially similar electronic transmission system (the “Platform”) and (b) certain of the Lenders (each, a “Public
Lender”) may have personnel who do not wish to receive material non-public information with respect to any of the Borrowers or their respective Affiliates, or the respective securities of any of the foregoing, and who may be engaged in
investment and other market-related activities with respect to such Persons’ securities. Each Borrower hereby agrees that (w) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked
“PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,” the Borrowers shall be deemed to have authorized the
Administrative Agent, MLPFS, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information with respect to the Borrowers or their respective securities for purposes of United States Federal and
state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as set forth in Section 11.07); (y) all Borrower Materials marked “PUBLIC”
are permitted to be made available through a portion of the Platform designated “Public Side Information;” and (z) the Administrative Agent and MLPFS shall be entitled to treat any Borrower Materials that are not marked
“PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Side Information.” Notwithstanding the foregoing, no Borrower shall be under any obligation to mark any Borrower Materials
“PUBLIC.” 
 6.03. Notices. The Company will promptly notify the Administrative Agent (who shall promptly notify each
Lender): 
 (a) of the occurrence of any Default or Event of Default; 

  
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 (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or
Governmental Authority against or affecting any Borrower or any Affiliate thereof that could reasonably be expected to result in a Material Adverse Effect; 

(c) the occurrence of any ERISA Event that, alone or together with any other ERISA Events that have occurred, could reasonably be expected to
result in liability of the Company and its Subsidiaries in an aggregate amount exceeding $10,000,000; and 
 (d) any other development that
results in, or could reasonably be expected to result in, a Material Adverse Effect. 
 Each notice pursuant to Section 6.03
shall be accompanied by a statement of a Responsible Officer of the Company setting forth details of the occurrence referred to therein and stating what action the Company has taken and proposes to take with respect thereto. 

6.04. Existence; Conduct of Business. 

(a) Preserve, renew and keep in full force and effect its legal existence; provided that the foregoing shall not prohibit any merger,
consolidation, liquidation or dissolution not prohibited under Section 7.03. 
 (b) Preserve, renew and keep in full force and
effect its rights, licenses, permits, privileges and franchises material to the conduct of the business of the Company and its Subsidiaries, taken as a whole, except where the failure to do so could not reasonably be expected to result in a Material
Adverse Effect. 
 (c) Maintain all authorizations, consents, approvals and licenses from, exemptions of, and filings and registrations
with, each Governmental Authority of the jurisdiction in which each Foreign Obligor is organized and existing, and all approvals and consents of each other Person in such jurisdiction, in each case that are required in connection with the validity,
legality, binding effect or enforceability of this Agreement or any of the other Loan Documents with respect to such Foreign Obligor. 

6.05. Payment of Obligations. Pay its obligations, including Tax liabilities, that, if not paid, could reasonably be expected to result
in a Material Adverse Effect before the same shall become delinquent or in default, except where (a) the validity or amount thereof is being contested in good faith by appropriate proceedings, (b) the Company or the applicable Subsidiary
has set aside on its books adequate reserves with respect thereto in accordance with GAAP and (c) the failure to make payment pending such contest could not reasonably be expected to result in a Material Adverse Effect. 

6.06. Maintenance of Properties; Insurance. (a) Keep and maintain all property material to the conduct of the business of the
Company and its Subsidiaries, taken as a whole, in good working order and condition, ordinary wear and tear excepted, and (b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks
as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar locations. 

  
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 6.07. Books and Records; Inspection Rights.  

(a) Keep proper books of record and account in which full, true and correct entries are made of all dealings and transactions in relation to
its business and activities. 
 (b) Permit any representatives designated by the Administrative Agent or the Required Lenders, upon
reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and
as often as reasonably requested, provided that such visits shall not occur more than once per calendar year unless an Event of Default has occurred and is continuing 

6.08. Compliance with Laws. Comply with all laws, rules, regulations and orders of any Governmental Authority applicable to it or its
property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

6.09. Use of Proceeds. Use the proceeds of the Credit Extensions (a) to finance Permitted Stock Repurchases, (b) for the
issuance of letters of credit, and (c) for general corporate purposes (including, without limitation, for purposes of financing Permitted Acquisitions) not in contravention of any Law or of any Loan Document. No part of the proceeds of any
Credit Extension will be used, whether directly or indirectly, for any purpose that (y) entails a violation of any of the regulations of the FRB, including Regulations T, U and X or (z) constitutes a breach of Section 82 which would
result in the Loan Documents contravening Section 82. 
 6.10. Additional Subsidiaries. In the event the Company acquires,
designates or creates any Material US Subsidiaries or if any existing Subsidiary becomes or is designated as or is deemed to be a Material US Subsidiary after the date hereof, the Company shall forthwith promptly (and in any event within 15 Business
Days after knowledge of such Subsidiary being or being designated or deemed to be a Material US Subsidiary) cause such Subsidiary to become a Subsidiary Guarantor; provided that, at the reasonable discretion of the Administrative Agent, no
such Material US Subsidiary shall be required to become a Subsidiary Guarantor to the extent that doing so would be reasonably likely to cause material adverse tax consequences to the Company and its Subsidiaries. 

6.11. Anti-Corruption Laws. Conduct its businesses in compliance in all material respects with applicable Anti-Corruption Laws and
maintain policies and procedures designed to promote and achieve compliance with such laws. 

  
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 ARTICLE VII. 

NEGATIVE COVENANTS 
 So
long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Loan Parties shall not, nor shall any Loan Party permit any
Subsidiary to: 
 7.01. Indebtedness. Create, incur, assume or suffer to exist any Indebtedness, except: 

(a) Indebtedness set forth in Schedule 7.01, and any extensions, renewals or replacements of any such Indebtedness to the extent the
principal amount thereof is not increased except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing
commitments unutilized thereunder; 
 (b) Indebtedness of (i) a Credit Party to a Credit Party, (ii) a Non-Credit Party to a
Non-Credit Party, (iii) a Credit Party to a Non-Credit Party, and (iv) a Non-Credit Party to a Credit Party in an amount not to exceed the amount provided for in Section 7.12; 

(c) Guarantees by (i) a Credit Party of Indebtedness of a Credit Party, (ii) a Non-Credit Party of Indebtedness of a Non-Credit
Party, (iii) a Non-Credit Party of the Indebtedness of a Credit Party, and (iv) a Credit Party of Indebtedness of a Non-Credit Party in an amount not to exceed the amount provided for in Section 7.12; 

(d) Indebtedness of the Company or any Subsidiary (i) incurred to finance the acquisition, construction or improvement of any fixed or
capital assets, including Capital Lease Obligations or (ii) assumed in connection with any Acquisition or any acquisition of a fixed or capital asset; provided that (x) such Indebtedness described in clause (i) above is
incurred prior to or within 90 days after such acquisition or the completion of such construction or improvement, (y) such Indebtedness described in clause (ii) above is not incurred solely in contemplation of such Acquisition or other
acquisition and (z) the aggregate principal amount of Indebtedness permitted by this clause (d) shall not exceed $80,000,000 at any time outstanding; 

(e) Indebtedness of any Credit Party provided that (i) the Company is, and the Company and its Subsidiaries on a consolidated basis are,
Solvent upon the incurrence of such Indebtedness; (ii) the Credit Parties shall be in compliance with each of the financial covenants set forth in Section 7.11 on a pro forma basis as at the end of and for the most recently ended
period of four fiscal quarters for which financial statements have been furnished to the Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four
fiscal quarters ended on December 31, 2015) (and, at the request of the Administrative Agent, the Company shall deliver to the Administrative Agent a certificate of a Financial Officer certifying the foregoing in reasonable detail),
(iii) no Default or Event of Default then exists or would result after giving effect to the incurrence of such Indebtedness, (iv) the final maturity date of such Indebtedness shall occur after the Maturity Date, (v) such Indebtedness
shall not contain financial covenants that are more restrictive than those contained in this Agreement and (vi) the terms relating to amortization and collateral (if any), are on then applicable market terms as determined in good faith by the
Borrower; 

  
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 (f) Indebtedness of the Company or any Subsidiary as an account party in respect of
(i) trade letters of credit and bank guarantees issued on account of trade obligations, (ii) standby letters of credit and bank guarantees issued in respect of bids, trade contracts, governmental contracts and leases (other than
Indebtedness for borrowed money), statutory obligations, surety, customs and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business and (iii) surety, customs and appeal bonds,
performance bonds and other obligations of a like nature incurred in the ordinary course of business; 
 (g) Indebtedness in respect of
obligations under one or more customary Cash Pooling Financings; 
 (h) Indebtedness of Non-Credit Parties in an aggregate principal amount
not to exceed $150,000,000; 
 (i) Indebtedness under the Loan Documents; 

(j) Indebtedness of any Credit Party under the Senior Notes (including Guarantees of a Credit Party in respect thereof) and, so long as no
Event of Default shall have occurred and be continuing or would result therefrom, any refinancings, refundings, renewals or extensions thereof; provided that, in each case, (i) the aggregate principal amount of such Indebtedness shall
not exceed $250,000,000 at any time outstanding, (ii) the final maturity date of such Indebtedness shall occur after the Maturity Date, (iii) such Indebtedness shall not provide for scheduled amortization of more than 25% of the principal
amount thereof prior the Maturity Date, (iv) such Indebtedness shall not contain mandatory prepayment provisions that are more onerous than the Senior Notes being refinanced, refunded, renewed or extended, and (v) such Indebtedness shall
not contain financial covenants that are more restrictive than those contained in this Agreement; 
 (k) Indebtedness arising under a
declaration of joint and several liability used for the purpose of section 2:403 of the Dutch Civil Code (Burgerlijk Wetboek) (and any residual liability under such declaration arising pursuant to section 2:404(2) of the Dutch Civil Code);
and 
 (l) Other Indebtedness in an aggregate principal amount not to exceed $125,000,000 at any time outstanding; provided, that, except
with respect to an aggregate principal amount of up to $60,000,000 of Indebtedness outstanding from time to time under this Section 7.01(l), (x) such Indebtedness shall not have maturities exceeding six (6) months and (y) the
covenants applicable to such Indebtedness shall not be more restrictive that the covenants contained in this Agreement. 
 7.02.
Liens. Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 

(a) Permitted Encumbrances; 

  
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 (b) any Lien on any property or asset of the Company or any Subsidiary set forth in Schedule
7.02; provided that (i) such Lien shall not apply to any other property or asset of the Company or any Subsidiary and (ii) the amount secured or benefited thereby is not increased except as contemplated by
Section 7.01(a), and (iii) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.01(a); 

(c) any Lien existing on any property or asset prior to the acquisition thereof by the Company or any Subsidiary or existing on any property
or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided that (i) such Lien is not created in contemplation of or in connection with such acquisition or such
Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Company or any other Subsidiary and (iii) such Lien shall secure only those obligations which it secures on the date of
such acquisition or the date such Person becomes a Subsidiary (or any refinancing or replacement of such obligations which does not increase the principal amount of such obligations), as the case may be; 

(d) (i) Liens securing Indebtedness permitted by Section 7.01(d)(i), provided that (x) such Liens are incurred prior to or
within 90 days after such acquisition or the completion of such construction or improvement, (y) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of
acquisition and (z) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) Liens securing Indebtedness permitted by Section 7.01(d)(ii), provided that
(x) such Liens were not created in contemplation of such Acquisition or such other acquisition and (y) such Liens do not extend to any assets other than those of the Person so acquired or the assets so acquired; 

(e) any Liens in the form of cash collateral securing letters of credit and bank guarantees; provided that the Indebtedness secured
thereby shall not exceed $20,000,000; 
 (f) Liens securing Indebtedness permitted by clause (h) of Section 7.01; 

(g) Liens on the related accounts and assets contained in such accounts securing a Cash Pooling Financing; 

(h) (i) rights of pledge and set-off arising pursuant to the general banking conditions declared applicable to Dutch bank accounts,
(ii) statutory and customary rights of pledge, charge and set-off upon deposits of cash in favor of banks or other depository institutions in the UK, (iii) Liens in favor of a banking institution or other depository institution arising as
a matter of Law encumbering deposits (including the right of set-off) and which are within the general parameters customary in the applicable banking industry, and (iv) Liens (including the right of set-off) in favor of a banking institution or
other depository institution encumbering deposits, securities and similar property that (x) are within the general parameters customary in the banking industry and (y) arise under deposit, custodial and similar agreements entered into in
the ordinary course of business, provided that such Liens do not at any time secure Indebtedness; 
 (i) Liens (if any) under any Loan
Document; 

  
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 (j) Liens in favor of issuing banks, revolving lenders and swingline lenders on cash collateral
furnished solely to secure credit exposure held by defaulting lenders in respect of otherwise unsecured Indebtedness under revolving credit facilities permitted pursuant this Agreement, provided that the aggregate amount of cash collateral so
furnished shall not exceed $7,500,000 at any time outstanding; and 
 (k) Other Liens securing Indebtedness and other obligations in an
aggregate principal amount not to exceed $40,000,000 at any time outstanding. 
 7.03. Fundamental Changes. Merge, dissolve,
liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of related transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person,
except that, if at the time thereof and immediately after giving effect thereto no Default or Event of Default shall have occurred and be continuing: 

(a) any Subsidiary may merge or consolidate with the Company in a transaction in which the Company is the surviving corporation; 

(b) any Credit Party may (i) sell, transfer, lease or otherwise Dispose of its assets (A) to a Credit Party or (B) to a
Non-Credit Party in an amount not to exceed the maximum amount permitted under Section 7.12, or (ii) merge into or consolidate with a Credit Party (other than the Company); 

(c) any Non-Credit Party may (i) sell, transfer, lease or otherwise Dispose of its assets to a Non-Credit Party or a Credit Party, or
(ii) merge into or consolidate with a Non-Credit Party, or (iii) merge with a Credit Party if a Credit Party is the survivor; 

(d) any Subsidiary (other than a Borrower) may liquidate or dissolve if the Company determines in good faith that such liquidation or
dissolution is in the best interests of the Borrowers taken as a whole and is not materially disadvantageous to the Lenders, provided that the assets of any such Subsidiary so liquidated or dissolved shall be distributed to the Company or a
wholly-owned Subsidiary of the Company; 
 (e) any Subsidiary may sell, transfer, lease or otherwise Dispose of (in one transaction or in a
series of transactions), assets and properties (including Equity Interests of any Subsidiary) so long as: 
 (i) if any such
Disposition shall constitute more than 2% of the consolidated tangible assets of the Company and its Subsidiaries (as measured at the time of such Disposition at the end of the most recently ended fiscal quarter for which financial statements have
been furnished to the Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the fiscal quarter ended on December 31, 2015)), then (i) the Company shall
deliver to the Administrative Agent a certificate of a Financial Officer attaching calculations reasonably satisfactory to the Administrative Agent evidencing compliance with Section 7.11 on a pro forma basis as at the end of and for the
most recently ended period of four fiscal quarters for which financial statements have been furnished to the Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for
the period 

  
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of four fiscal quarters ended on December 31, 2015), (iii) demonstrating that pro-forma Consolidated EBITDA for the period of four fiscal quarters most recently ended for which
financial statements have been furnished to the Administrative Agent under Section 6.01(a) or Section 6.01(b) (or, prior to the delivery of any such statements, for the period of four fiscal quarters ended on
December 31, 2015) after giving effect to any such disposition is not more than 10% lower than Consolidated EBITDA for such period without giving effect to such Disposition, and (iv) certifying that no Default or Event of Default then
exists or would result after giving effect to such Disposition; and 
 (ii) such Dispositions shall not, in the aggregate,
exceed an amount equal to 10% of the Company’s consolidated tangible assets as set forth on the Company’s most recently (at the time of such Disposition) delivered audited financial statements referred to in Section 6.01(a);
and 
 (f) any Person that is not a Subsidiary may merge with and into the Company or any of its wholly-owned Subsidiaries in a Permitted
Acquisition or consolidate with any of its wholly-owned Subsidiaries; provided that if such Subsidiary is a Credit Party the survivor shall be a Credit Party. 

7.04. Investments. Make or hold any Investments, except: 

(a) Permitted Investments; 
 (b)
Investments by the Company existing on the date hereof in the capital stock of its Subsidiaries; 
 (c) Investments, including loans and
advances made or held by (i) a Credit Party in or to any other Credit Party, (ii) a Non-Credit Party in or to a Non-Credit Party, (iii) a Non-Credit Party in or to a Credit Party, and (iv) a Credit Party in or to a Non-Credit
Party to the extent permitted by Section 7.12; 
 (d) Guarantees and other Indebtedness (to the extent constituting an
Investment) permitted by Section 7.01; 
 (e) Investments consisting of Permitted Acquisitions; 

(f) Investments in the capital stock or other securities of a Person (not constituting a Permitted Acquisition) in an aggregate amount not to
exceed $50,000,000 for the period from and after the Closing Date; 
 (g) the Guaranties; 

(h) Investments set forth on Schedule 7.04; and 

(i) Other Investments in an aggregate amount not to exceed $50,000,000 at any time outstanding. 

  
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 7.05. Swap Contracts. Enter into any Swap Contract, except (a) Swap Contracts entered
into to hedge or mitigate risks to which the Company or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Company or any of its Subsidiaries), and (b) Swap Contracts entered into in order to effectively
cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Company or any Subsidiary. 

7.06. Restricted Payments. Declare or make, directly or indirectly, any Restricted Payment, except (a) the Company may declare and
pay dividends with respect to its Equity Interests payable solely in additional shares of its common stock, (b) Subsidiaries may declare and pay dividends and other distributions ratably with respect to their Equity Interests, (c) the
Company may make Restricted Payments pursuant to and in accordance with stock option plans or other benefit plans for management or employees of the Company and its Subsidiaries, and (d) Permitted Stock Repurchases. 

7.07. Change in Nature of Business. Engage to any material extent in any business other than businesses of the type conducted by the
Company and its Subsidiaries on the date of execution of this Agreement and businesses reasonably related thereto. 
 7.08. Transactions
with Affiliates. Enter into any transaction of any kind with any of its Affiliates, except (a) whether or not in the ordinary course of business, (i) at prices and on terms and conditions not materially less favorable to the Company or
such Subsidiary than could be obtained on an arm’s-length basis from unrelated third parties, (ii) transactions between or among the Company and its wholly owned Subsidiaries not involving any other Affiliate and (iii) any Restricted
Payment permitted by Section 7.06, (b) (i) employment and severance arrangements between the Company and its Subsidiaries and their respective officers and employees in the ordinary course of business and (ii) the payment
of customary fees, compensation, and out-of-pocket costs to, and indemnities provided on behalf of, directors, officers and employees of the Company and its Subsidiaries in the ordinary course of business, and (c) the matters described in
Schedule 7.08 hereof. The CCT Transactions shall not be prohibited by this Section 7.08. 
 7.09. Burdensome
Agreements. Enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Company or any Subsidiary to create, incur or permit to exist any Lien upon
any of its property or assets to secure the Obligations, or (b) the ability of any Subsidiary to pay dividends or other distributions with respect to any shares of its capital stock or to make or repay loans or advances to the Company or any
other Subsidiary or to Guarantee Indebtedness of the Company or any other Subsidiary; provided that (i) the foregoing shall not apply to restrictions and conditions imposed by (x) law, (y) by this Agreement or the other Loan
Documents, or (z) the agreements governing Indebtedness permitted under clauses (h) or (j) of Section 7.01, (ii) the foregoing shall not apply to restrictions and conditions (x) in those documents, instruments
and agreements identified on Schedule 7.09 and any extension or renewal of, or any amendment or modification or (in the case of any such documents, instruments and agreements relating to Indebtedness) refinancing thereof, so long as the scope
of any such restriction or condition is not expanded or (y) pursuant to the provisions governing Indebtedness permitted pursuant to clause (e) of Section 7.01, 

  
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(iii) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to the sale of the Equity Interests or the assets of the Company or a Subsidiary
pending such sale, provided such restrictions and conditions apply only to the Equity Interests or assets that is to be sold and such sale is permitted hereunder, (iv) clause (a) of the foregoing shall not apply to restrictions or
conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness; (v) clause (a) of the foregoing shall not
apply to customary provisions in leases and other contracts restricting the assignment thereof; and (vi) the foregoing shall not apply to customary restrictions and conditions contained in agreements relating to a Cash Pooling Financing. 

7.10. Use of Proceeds. Use the proceeds of any Credit Extension, whether directly or indirectly, for any purpose that entails a
violation of any of the regulations of the FRB, including Regulations T, U and X. 
 7.11. Financial Covenants.  

(a) Consolidated Interest Coverage Ratio. Permit the Consolidated Interest Coverage Ratio as of the end of any period of four fiscal
quarters of the Company to be less 3.50 to 1.00. 
 (b) Consolidated Net Leverage Ratio. Permit the Consolidated Net Leverage Ratio
as of the end of any period of four fiscal quarters of the Company to be greater than 3.00 to 1.00, provided, however, that upon consummation of a Permitted Material Acquisition and upon the written election of the Company (which may
be exercised not more than two (2) times during the term of this Agreement) to the Administrative Agent (which shall promptly notify the Lenders), the Company may increase the maximum Consolidated Net Leverage Ratio by 1.00 (i.e., a
full-turn) above the Consolidated Net Leverage Ratio then in effect (but in no event to a ratio greater than 4.00 to 1.00) (the “Adjusted Consolidated Net Leverage Ratio”). The Adjusted Consolidated Net Leverage Ratio shall be
effective as of the date of consummation of the Permitted Material Acquisition (including, without limitation, for determining pro forma compliance with the requirements this Agreement for such Permitted Material Acquisition) and (i) shall step
down by 0.25 (i.e., a quarter turn) on the last day of each fiscal quarter (commencing on the last day of the full fiscal quarter occurring after the date of the consummation of such Permitted Material Acquisition) and (ii) shall return
to the originally stated Consolidated Net Leverage Ratio of 3.00 to 1.00 on the last day of the fourth full fiscal quarter occurring after the date of the consummation of such Permitted Material Acquisition. Notwithstanding the foregoing to the
contrary, in the event that the Company makes any such election to adjust the Consolidated Net Leverage Ratio as set forth above during concurrent periods for Permitted Material Acquisitions occurring within any period of four full fiscal quarters
following the date of the consummation of such Permitted Material Acquisitions, the step downs (as set forth above) shall occur after the end of each full fiscal quarter following the date of consummation of the most recent Permitted Material
Acquisition (on account of which the Consolidated Net Leverage Ratio was adjusted). 
 7.12. Transfers from Credit Parties to Non-Credit
Parties. The Credit Parties will not allow the sum of (a) outstanding Indebtedness of a Non-Credit Party to a Credit Party 

  
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incurred pursuant to Section 7.01(b)(iv), plus (b) the outstanding Guarantees of Indebtedness of a Non-Credit Party by a Credit Party incurred pursuant to
Section 7.01(c)(iv), plus (c) the fair market value of any assets disposed of by a Credit Party to a Non-Credit Party pursuant to Section 7.03(b)(i)(B) from and after the Closing Date, net of any transfer to such Credit
Party in consideration of such disposition, plus (d) without duplication of amounts referenced in clause (c) above, Investments of or by a Credit Party in or to a Non-Credit Party pursuant to Section 7.04(c)(iv), net of
any transfer to such Credit Party in consideration of such Investment, to exceed $100,000,000 in the aggregate at any time. 
 7.13.
Fiscal Year. Make any change in the manner of determining the date on which their respective fiscal year ends without giving prior notice to the Administrative Agent. 

7.14. Amendments. The Company shall not and shall ensure that no Subsidiary will amend, vary, novate, supplement, supersede, waive or
terminate any term of any Organization Document except in writing (a) with the prior written consent of the Required Lenders and the Administrative Agent or (b) in a way which could not be reasonably expected to materially and adversely
affect the interests of the Administrative Agent, the Lenders or the L/C Issuer. 
 7.15. Sanctions. Directly or indirectly, use the
proceeds of any Credit Extension, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other individual or entity, to fund any activities of or business with any Designated Person, or in any
Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other manner that will result in a violation by any individual or entity party to this Agreement (including any individual or entity participating in
the transaction, whether as Lender, Arrangers, Administrative Agent, L/C Issuer, Swing Line Lender, or otherwise) of Sanctions. 
 7.16.
Anti-Corruption Laws. Use the proceeds of any Credit Extension for any purpose which would breach any Anti-Corruption Laws. 
 ARTICLE
VIII. 
 EVENTS OF DEFAULT AND REMEDIES 

8.01. Events of Default. Any of the following shall constitute an Event of Default: 

(a) Non-Payment. The Borrower or any other Loan Party fails to (i) pay when and as required to be paid herein, and in the currency
required hereunder, any amount of principal of any Loan or any L/C Obligation or deposit any funds as Cash Collateral as and when required hereunder, or (ii) pay within three Business Days after the same becomes due, any interest on any Loan or
on any L/C Obligation, any fee due hereunder or any other amount payable hereunder or under any other Loan Document; or 
 (b) Specific
Covenants. (i) The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 2.14(a), 2.14(b), 6.03, 6.04(a) (with respect to any Borrower’s existence),
6.09 or Article VII; or 
 (c) Other Defaults. Any Borrower or any other Loan Party fails to perform or observe any
other covenant or agreement (not specified in Section 8.01(a) or (b) above) 

  
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contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after notice thereof from the Administrative Agent to any Borrower (which notice will
be given at the request of any Lender); or 
 (d) Representations and Warranties. Any representation, warranty, certification or
statement of fact made or deemed made by or on behalf of the Company or any Subsidiary herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect when
made or deemed made; or 
 (e) Cross-Default. (i) Any Loan Party or any Subsidiary thereof fails to make any payment when due
(whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness (including, without limitation, Indebtedness under any Guarantee) in excess of $50,000,000, or fails to observe or perform any
other agreement or condition relating to any such Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit
(after the expiration of applicable notice and grace periods) the holder or holders of such Indebtedness (or the beneficiary or beneficiaries of a Guarantee) (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries)
to cause, such Indebtedness to be demanded or to become due or (except solely as a result of a voluntary prepayment) to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or redeem
such Indebtedness to be made, prior to its stated maturity (or such Guarantee to become payable) or cash collateral in lieu of any such repurchase, prepayment, defeasance or redemption to be demanded (other than cash collateral furnished solely to
secure credit exposure held by defaulting lenders under Indebtedness otherwise permitted hereunder), provided that this clause (i) shall not apply to (x) secured Indebtedness that becomes due as a result of the voluntary sale or transfer
of property or assets securing such Indebtedness or as a result of the voluntary sale or transfer of Equity Interests owned by the Company or any Subsidiary in a transaction not prohibited hereunder or (y) an event (other than a default) that
causes a mandatory offer to be made by the Company to repurchase, prepay, defease or redeem the Senior Notes (or any refinancings Indebtedness in respect thereof permitted under Section 7.01(j)) as a result of the voluntary sale or transfer of
the property or assets of the Company or its Subsidiaries in a transaction not prohibited hereunder or under the documentation governing the Senior Notes (or such other refinancing Indebtedness); or (ii) there occurs under any Swap Contract an
Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract) or
(B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such
Subsidiary as a result thereof is greater than $50,000,000; or 
 (f) Insolvency Proceedings, Etc. (i) Any Borrower or any
Material Subsidiary shall (A) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Law now or hereafter in effect, (B) consent to the institution of, or fail
to contest in a timely and appropriate manner, any proceeding or petition described in clause (ii) below, (C) apply for or consent to the 

  
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appointment of a receiver, trustee, custodian, sequestrator, conservator, examiner or similar official for any Borrower or any Material Subsidiary or for a substantial part of its assets,
(D) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (E) make a general assignment for the benefit of creditors or (F) take any action for the purpose of effecting any of the
foregoing or (ii) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (A) liquidation, reorganization or other relief in respect of any Borrower or any Material Subsidiary or its debts, or of a
substantial part of its assets, under any Debtor Relief Law now or hereafter in effect or (B) the appointment of a receiver, trustee, custodian, sequestrator, examiner, conservator or similar official for the Borrowers or any Material
Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered; or 

(g) Inability to Pay Debts; Attachment. Any Borrower or any Material Subsidiary thereof admits in writing its inability to pay its
debts as they become due; or 
 (h) Judgments. There is entered against any Borrower or any Subsidiary one or more judgments for the
payment of money in an aggregate amount (for all such judgments) in excess of $50,000,000 (to the extent not covered by independent third-party insurance as to which the insurer does not dispute coverage) and the same shall (x) remain
undischarged, unsatisfied or unappealed for a period of 30 consecutive days during which execution shall not be effectively stayed, or (y) if such judgment is not discharged or satisfied, any action shall be legally taken by a judgment creditor
to attach or levy upon any assets of any Borrower or any Subsidiary to enforce any such judgment that is not promptly dismissed or stayed; or 

(i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably
be expected to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $50,000,000, or (ii) any Loan Party or any ERISA Affiliate fails to pay
when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $50,000,000; or 

(j) Invalidity of Loan Documents. Any material provision of any Loan Document, at any time after its execution and delivery and for any
reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or any Loan Party contests in writing the validity or enforceability of any provision of any Loan
Document; or any Loan Party denies in writing that it has any or further liability or obligation under any provision of any Loan Document, or purports in writing to revoke, terminate or rescind any provision of any Loan Document; or 

(k) Change of Control. There occurs any Change of Control. 

8.02. Remedies upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request
of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a) declare the commitment of each
Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 

  
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 (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid
thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the
Borrowers; 
 (c) require that the Company Cash Collateralize the L/C Obligations (in an amount equal to the Minimum Collateral Amount with
respect thereto); and 
 (d) exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the
Lenders and the L/C Issuer under the Loan Documents; 
 provided, however, that upon the occurrence of an actual or deemed entry of an order
for relief with respect to any Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid
principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Company to Cash Collateralize the L/C Obligations as aforesaid shall automatically become
effective, in each case without further act of the Administrative Agent or any Lender. 
 8.03. Application of Funds. After the
exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to
Section 8.02), any amounts received on account of the Obligations shall, subject to Sections 2.14 and 2.15, be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees,
charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

Second, to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest
and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable under Article III, ratably among them in proportion to
the respective amounts described in this clause Second payable to them; 
 Third, to payment of that portion of the
Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause
Third payable to them; 

  
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 Fourth, to payment of that portion of the Obligations constituting unpaid principal of the
Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause Fourth held by them; 

Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash Collateralize that portion of L/C Obligations comprised
of the aggregate undrawn amount of Letters of Credit (to the extent not otherwise Cash Collateralized by the Company pursuant to the terms hereof); 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Company or as otherwise required by
Law. 
 Subject to Section 2.03(c) and Section 2.14, amounts used to Cash Collateralize the aggregate undrawn amount of Letters of
Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired,
such remaining amount shall be applied to the other Obligations, if any, in the order set forth above. 
 ARTICLE IX. 

ADMINISTRATIVE AGENT 

9.01. Appointment and Authority.  

Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent hereunder
and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and
powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and neither the Company nor any other Loan Party shall have rights as a third party
beneficiary of any of such provisions. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term) with reference to the Administrative Agent is not intended to connote any
fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom, and is intended to create or reflect only an administrative relationship between
contracting parties. 
 9.02. Rights as a Lender. The Person serving as the Administrative Agent hereunder shall have the same rights
and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the
context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in
any other advisory capacity for and generally engage in any kind of business with the Borrowers or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to
the Lenders. 
 9.03. Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except those
expressly set forth herein and in the other Loan Documents, and its duties hereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Administrative Agent: 

(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 

  
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 (b) shall not have any duty to take any discretionary action or exercise any discretionary
powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of
the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the
Administrative Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture,
modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and 
 (c) shall not, except as
expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to any of the Borrowers or any of their respective Affiliates that is communicated
to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. 
 The Administrative Agent shall
not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good
faith shall be necessary, under the circumstances as provided in Sections 11.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and
non-appealable judgment. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such Default is given in writing to the Administrative Agent by the Company, a Lender or the L/C Issuer. 

The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the
performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the
Administrative Agent. 
 9.04. Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall
not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, 

  
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Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent
also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making
of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative Agent may presume that such condition is satisfactory to such
Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of such Letter of Credit. The Administrative Agent may consult
with legal counsel (who may be counsel for the Company), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or
experts. 
 9.05. Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and
powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such
sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of
the credit facilities provided for herein as well as activities as Administrative Agent. The Administrative Agent shall not be responsible for the negligence or misconduct of any sub-agents except to the extent that a court of competent jurisdiction
determines in a final and non-appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agents. 

9.06. Resignation of Administrative Agent.  

(a) The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Company. Upon receipt of
any such notice of resignation, the Required Lenders shall have the right, with the consent of the Company unless an Event of Default has occurred and is continuing (such consent not to be unreasonably withheld), to appoint a successor, which shall
be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
after the retiring Administrative Agent gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not
be obligated to) on behalf of the Lenders and the L/C Issuer, with the consent of the Company unless an Event of Default has occurred and is continuing (such consent not to be unreasonably withheld), appoint a successor Administrative Agent meeting
the qualifications set forth above, provided that in no event shall any such successor Administrative Agent be a Defaulting Lender. Whether or not a successor has been appointed, such resignation shall become effective in accordance
with such notice on the Resignation Effective Date. 

  
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 (b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause
(d) of the definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Company and such Person remove such Person as Administrative Agent and, with the consent of the Company unless an
Event of Default has occurred and is continuing (such consent not to be unreasonably withheld), appoint a successor. If no such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days
(or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become effective in accordance with such notice on the Removal Effective Date. 

(c) With effect from the Resignation Effective Date or the Removal Effective Date (as applicable) (1) the retiring or removed
Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer
under any of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) except for any indemnity payments or other
amounts then owed to the retiring or removed Administrative Agent, all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the L/C Issuer directly,
until such time, if any, as the Required Lenders appoint a successor Administrative Agent as provided for above. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent (other than as provided in Section 3.01(g) and other than any rights to indemnity payments or other amounts owed to the
retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal Effective Date, as applicable), and the retiring or removed Administrative Agent shall be discharged from all of its duties and obligations hereunder or
under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Company to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed
between the Company and such successor. After the retiring or removed Administrative Agent’s resignation or removal hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall continue in
effect for the benefit of such retiring or removed Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them (i) while the retiring or removed Administrative
Agent was acting as Administrative Agent and (ii) after such resignation or removal for as long as any of them continues to act in any capacity hereunder or under the other Loan Documents, including (a) acting as collateral agent or
otherwise holding any collateral security on behalf of any of the Lenders and (b) in respect of any actions taken in connection with transferring the agency to any successor Administrative Agent. 

(d) Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as L/C Issuer
and Swing Line Lender. If Bank of America resigns as an L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its
resignation as L/C Issuer and all L/C Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed 

  
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Amounts pursuant to Section 2.03(c). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to
Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to
Section 2.04(c). Upon the appointment by the Company of a successor L/C Issuer or Swing Line Lender hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), (a) such successor shall succeed to and
become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as applicable, (b) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and
obligations hereunder or under the other Loan Documents, and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements
satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 
 9.07.
Non-Reliance on Administrative Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on
such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
 9.08. No
Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Arrangers, Book Managers or Syndication Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the
other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder. 
 9.09.
Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of
any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on any Borrower) shall be entitled and empowered, by
intervention in such proceeding or otherwise 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and
unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Administrative
Agent (including any claim for the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C
Issuer and the Administrative Agent under Sections 2.03(i) and (j), 2.09 and 11.04) allowed in such judicial proceeding; and 

  
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 (b) to collect and receive any monies or other property payable or deliverable on any such claims
and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator, examiner or other similar official in any such
judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to
pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under
Sections 2.09 and 11.04. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize
or consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer to authorize the Administrative
Agent to vote in respect of the claim of any Lender or the L/C Issuer or in any such proceeding. 
 9.10. Collateral and Guaranty
Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, 
 (a) to
release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations (other than contingent indemnification obligations)
and the expiration or termination of all Letters of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative Agent and the L/C Issuer shall have been made), (ii) that is sold or to be sold as part
of or in connection with any sale permitted hereunder or under any other Loan Document, or (iii) if approved, authorized or ratified in writing in accordance with Section 11.01; 

(b) to subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien
on such property that is permitted by Section 7.02(d); 
 (c) to release any Subsidiary Guarantor from its obligations under the
Subsidiary Guaranty if (i) such Person ceases to be a Subsidiary as a result of a transaction not prohibited hereunder or (ii) such Person shall cease to be a Material US Subsidiary (it being understood that all Material US Subsidiaries
shall at times be a party to the Subsidiary Guaranty); and 
 (d) to release any Designated Borrower from its obligations under this
Agreement (subject to compliance with Section 2.16(e)) (i) if such Person ceases to be a Subsidiary as a result of a transaction not prohibited hereunder or (ii) in accordance with Section 2.16(e). 

Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority
to release or subordinate its interest in particular types or items of property, or to release any Subsidiary Guarantor or Designated Borrower from its obligations under the Subsidiary Guaranty or this Agreement, as applicable, pursuant to this
Section 9.10. 

  
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 The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into
any representation or warranty regarding the existence, value or collectability of any collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection
therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of any collateral. 

ARTICLE X. 
 GUARANTY

 10.01. Company Guaranty. 

(a) Guaranty. The Company hereby (i) ratifies, restates and confirms its Guarantee in favor of the Lender Parties made pursuant to
the “Company Guaranty” (as defined in the Existing Credit Agreement) and (ii) absolutely and unconditionally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due,
whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or
otherwise, of each of the Designated Borrowers to the Lender Parties, and whether arising hereunder or under any other Loan Document (including all renewals, extensions, amendments and other modifications thereof and all costs, attorneys’ fees
and expenses incurred by the Lender Parties in connection with the collection or enforcement thereof) and whether recovery upon such Obligations may be or hereafter become unenforceable or shall be an allowed or disallowed claim under any proceeding
or case commenced by or against the Company or any Designated Borrower under any Debtor Relief Laws, and including interest that accrues after the commencement by or against any Designated Borrower of any proceeding under any Debtor Relief Laws
(collectively, the “Guaranteed Designated Borrower Obligations”). The Administrative Agent’s books and records showing the amount of the Guaranteed Designated Borrower Obligations shall be admissible in evidence in any action
or proceeding, and shall be binding upon the Company, and conclusive for the purpose of establishing the amount of such Guaranteed Designated Borrower Obligations. This Company Guaranty shall not be affected by the genuineness, validity, regularity
or enforceability of the Guaranteed Designated Borrower Obligations or any instrument or agreement evidencing any Guaranteed Designated Borrower Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any
collateral therefor, or by any fact or circumstance relating to the Guaranteed Designated Borrower Obligations which might otherwise constitute a defense to the obligations of the Company under this Company Guaranty, and the Company hereby
irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing. 
 (b) Rights of
Lender Parties. The Company consents and agrees that the Lender Parties may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (i) amend, extend, renew,
compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Guaranteed Designated Borrower Obligations or any part thereof; (ii) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or
otherwise dispose of any security for the payment of this 

  
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Company Guaranty or any Guaranteed Designated Borrower Obligations; (iii) apply such security and direct the order or manner of sale thereof as the Administrative Agent, the L/C Issuer and
the Lenders in their sole discretion may determine; and (iv) release or substitute one or more of any endorsers or other guarantors of any of the Guaranteed Designated Borrower Obligations. Without limiting the generality of the foregoing, the
Company consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of the Company under this Company Guaranty or which, but for this provision, might operate as a discharge of the Company.

 (c) Certain Waivers. The Company waives (i) any defense arising by reason of any disability or other defense of any
Designated Borrower or any other guarantor, or the cessation from any cause whatsoever (including any act or omission of any Lender Party) of the liability of any Designated Borrower; (ii) any defense based on any claim that the Company’s
obligations exceed or are more burdensome than those of any Designated Borrower; (iii) the benefit of any statute of limitations affecting any Designated Borrower’s liability hereunder; (iv) except as expressly set forth in
Section 10.01(f) below, any right to proceed against any Designated Borrower, proceed against or exhaust any security for the Guaranteed Designated Borrower Obligations, or pursue any other remedy in the power of any Lender Party
whatsoever; (v) except as expressly set forth in Section 10.01(f) below, any benefit of and any right to participate in any security now or hereafter held by any Lender Party; and (vi) to the fullest extent permitted by law,
any and all other defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties. The Company expressly waives all setoffs and counterclaims and all presentments, demands
for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever with respect to the Guaranteed Designated Borrower Obligations,
and all notices of acceptance of this Company Guaranty or of the existence, creation or incurrence of new or additional Guaranteed Designated Borrower Obligations. 

(d) Obligations Independent. The obligations of the Company under this Company Guaranty are those of primary obligor, and not merely as
surety, and are independent of the Guaranteed Designated Borrower Obligations and the obligations of any other guarantor, and a separate action may be brought against the Company to enforce this Company Guaranty whether or not any Designated
Borrower or any other Person or entity is joined as a party. 
 (e) Payments. All payments by the Company shall be made in the manner
under this Company Guaranty, at the place and in the currency (the “Payment Currency”) required by this Agreement and the other Loan Documents; provided, however, that (if the Payment Currency is other than Dollars)
the Company may, at its option (or, if for any reason whatsoever the Company is unable to effect payments in the foregoing manner, the Company shall be obligated to) pay to the Administrative Agent at the Administrative Agent’s Office in
Dollars the Dollar Equivalent of the amount of such Guaranteed Designated Borrower Obligation together with any other amounts due pursuant to Section 3.05. In any case in which the Company makes or is obligated to make payment in
Dollars, the Company shall hold the Administrative Agent harmless from any loss incurred by the Administrative Agent arising from any change in the value of Dollars in relation to the Payment Currency between the date the Guaranteed Designated
Borrower Obligation becomes due and the date the Administrative 

  
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Agent is actually able, following the conversion of the Dollars paid by the Company into the Payment Currency and remittance of such Payment Currency to the place where such Guaranteed Designated
Borrower Obligation is payable, to apply such Payment Currency to such Guaranteed Designated Borrower Obligation. The obligations of the Company hereunder shall not be affected by any acts of any legislative body or Governmental Authority affecting
the Company or any Designated Borrower, including but not limited to, any restrictions on the conversion of currency or repatriation or control of funds or any total or partial expropriation of the Company’s or any Designated Borrower’s
property, or by economic, political, regulatory or other events in the countries where the Company or any Designated Borrower is located. 

(f) Subrogation. The Company shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with
respect to any payments it makes under this Company Guaranty until all of the Guaranteed Designated Borrower Obligations and any amounts payable under this Company Guaranty have been paid and performed in full in cash and the Commitments and the
Facilities are terminated. If any amounts are paid to the Company in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Lender Parties and shall forthwith be paid to the Lender Parties to reduce
the amount of the Guaranteed Designated Borrower Obligations, whether matured or unmatured. 
 (g) Termination; Reinstatement. This
Company Guaranty is a continuing and irrevocable guaranty of all Guaranteed Designated Borrower Obligations now or hereafter existing and shall remain in full force and effect until all Guaranteed Designated Borrower Obligations and any other
amounts payable under this Company Guaranty are indefeasibly paid in full in cash and the Commitments and the Facilities with respect to the Guaranteed Designated Borrower Obligations are terminated. Notwithstanding the foregoing, this Company
Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of any Designated Borrower or the Company is made, or any of the Lender Parties exercises its right of setoff, in respect of the
Guaranteed Designated Borrower Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement
entered into by any of the Lender Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not been made or such
setoff had not occurred and whether or not the Lender Parties are in possession of or have released this Company Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of the Company under this
paragraph shall survive termination of this Company Guaranty. 
 (h) Subordination. The Company hereby subordinates the payment of
all obligations and indebtedness of each Designated Borrower owing to the Company, whether now existing or hereafter arising, including but not limited to any obligation of any Designated Borrower to the Company as subrogee of the Lender Parties or
resulting from the Company’s performance under this Company Guaranty, to the payment in full in cash of all Guaranteed Designated Borrower Obligations, provided, however, that the foregoing subordination shall not be given effect
until such time as the Lender Parties shall have made a request to the Company pursuant to the second sentence of this Section 10.01(h). At any time any Event of Default shall have occurred and be continuing, if the Lender Parties so
request, any such 

  
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obligation or indebtedness of any Designated Borrower to the Company shall be enforced and performance received by the Company as trustee for the Lender Parties and the proceeds thereof shall be
paid over to the Lender Parties on account of the applicable Guaranteed Designated Borrower Obligations, but without reducing or affecting in any manner the liability of the Company under this Company Guaranty. 

(i) Stay of Acceleration. If acceleration of the time for payment of any of the Guaranteed Designated Borrower Obligations is stayed,
in connection with any case commenced by or against the Company or any Designated Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by the Company immediately upon demand by the Lender Parties. 

(j) Condition of Borrowers. The Company acknowledges and agrees that it has the sole responsibility for, and has adequate means of,
obtaining from the Designated Borrowers and any other guarantor such information concerning the financial condition, business and operations of each Designated Borrower and any such other guarantor as the Company requires, and that none of the
Lender Parties has any duty, and the Company is not relying on the Lender Parties at any time, to disclose to the Company any information relating to the business, operations or financial condition of any Designated Borrower or any other guarantor
(the Company waiving any duty on the part of the Lender Parties to disclose such information and any defense relating to the failure to provide the same). 

10.02. Subsidiary Guaranty. 

(a) Guaranty. Each Subsidiary Guarantor hereby (i) ratifies, restates and confirms its Guarantee in favor of the Lender Parties
made pursuant to the “Subsidiary Guaranty” (as defined in the Existing Credit Agreement) and (ii) absolutely and unconditionally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt
payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages,
costs, expenses or otherwise, of the Borrowers to the Lender Parties, and whether arising hereunder or under any other Loan Document (including all renewals, extensions, amendments and other modifications thereof and all costs, attorneys’ fees
and expenses incurred by the Lender Parties in connection with the collection or enforcement thereof) and whether recovery upon such Obligations may be or hereafter become unenforceable or shall be an allowed or disallowed claim under any proceeding
or case commenced by or against any Subsidiary Guarantor or any Borrower under any Debtor Relief Laws, and including interest that accrues after the commencement by or against any Borrower of any proceeding under any Debtor Relief Laws
(collectively, the “Guaranteed Borrower Obligations”). The Administrative Agent’s books and records showing the amount of the Guaranteed Borrower Obligations shall be admissible in evidence in any action or proceeding, and
shall be binding upon each Subsidiary Guarantor, and conclusive for the purpose of establishing the amount of the Guaranteed Borrower Obligations. This Subsidiary Guaranty shall not be affected by the genuineness, validity, regularity or
enforceability of the Guaranteed Borrower Obligations or any instrument or agreement evidencing any Guaranteed Borrower Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or
by any fact or circumstance 

  
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relating to the Guaranteed Borrower Obligations which might otherwise constitute a defense to the obligations of any Subsidiary Guarantor under this Subsidiary Guaranty, and each Subsidiary
Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing. Anything contained herein to the contrary notwithstanding, the obligations of each Subsidiary Guarantor
hereunder at any time shall be limited to an aggregate amount equal to the largest amount that would not render its obligations under this Subsidiary Guaranty subject to avoidance as a fraudulent transfer or conveyance under Section 548 of the
Bankruptcy Code (Title 11, United States Code) or any comparable provisions of any similar federal or state Law. 
 (b) Rights of Lender
Parties. Each Subsidiary Guarantor consents and agrees that the Lender Parties may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (i) amend, extend,
renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Guaranteed Borrower Obligations or any part thereof; (ii) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise
dispose of any security for the payment of this Subsidiary Guaranty or any Guaranteed Borrower Obligations; (iii) apply such security and direct the order or manner of sale thereof as the Administrative Agent, the L/C Issuer and the Lenders in
their sole discretion may determine; and (iv) release or substitute one or more of any endorsers or other guarantors of any of the Guaranteed Borrower Obligations. Without limiting the generality of the foregoing, each Subsidiary Guarantor
consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Subsidiary Guarantor under this Subsidiary Guaranty or which, but for this provision, might operate as a discharge of such
Subsidiary Guarantor. 
 (c) Certain Waivers. Each Subsidiary Guarantor waives (i) any defense arising by reason of any
disability or other defense of any Borrower or any other guarantor, or the cessation from any cause whatsoever (including any act or omission of any Lender Party) of the liability of any Borrower; (ii) any defense based on any claim that such
Subsidiary Guarantor’s obligations exceed or are more burdensome than those of any Borrower; (iii) the benefit of any statute of limitations affecting such Subsidiary Guarantor’s liability hereunder; (iv) except as expressly set
forth in Section 10.02(g) below, any right to proceed against any Borrower, proceed against or exhaust any security for the Guaranteed Borrower Obligations, or pursue any other remedy in the power of any Lender Party whatsoever;
(v) except as expressly set forth in Section 10.02(g) below, any benefit of and any right to participate in any security now or hereafter held by any Lender Party; and (vi) to the fullest extent permitted by law, any and all
other defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties. Each Subsidiary Guarantor expressly waives all setoffs and counterclaims and all presentments, demands
for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever with respect to the Guaranteed Borrower Obligations, and all
notices of acceptance of this Subsidiary Guaranty or of the existence, creation or incurrence of new or additional Guaranteed Borrower Obligations. 

(d) Obligations Independent. The obligations of each Subsidiary Guarantor under this Subsidiary Guaranty are those of primary obligor,
and not merely as surety, and are independent of the Guaranteed Borrower Obligations and the obligations of any other 

  
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guarantor, and a separate action may be brought against such Subsidiary Guarantor to enforce this Subsidiary Guaranty whether or not any Borrower or any other Person or entity is joined as a
party. 
 (e) Payments. All payments by a Subsidiary Guarantor under this Subsidiary Guaranty shall be made in the manner, at the
place and in the Payment Currency required by this Agreement and the other Loan Documents; provided, however, that (if the Payment Currency is other than Dollars) such Subsidiary Guarantor may, at its option (or, if for any
reason whatsoever such Subsidiary Guarantor is unable to effect payments in the foregoing manner, such Subsidiary Guarantor shall be obligated to) pay to the Administrative Agent at the Administrative Agent’s Office the Dollar Equivalent of the
amount of such Guaranteed Borrower Obligation together with any other amounts due pursuant to Section 3.05. In any case in which a Subsidiary Guarantor makes or is obligated to make payment in Dollars, such Subsidiary Guarantor shall
hold the Administrative Agent harmless from any loss incurred by the Administrative Agent arising from any change in the value of Dollars in relation to the Payment Currency between the date the Guaranteed Borrower Obligation becomes due and the
date the Administrative Agent is actually able, following the conversion of the Dollars paid by such Subsidiary Guarantor into the Payment Currency and remittance of such Payment Currency to the place where such Guaranteed Borrower Obligation is
payable, to apply such Payment Currency to such Guaranteed Borrower Obligation. The obligations of each Subsidiary Guarantor hereunder shall not be affected by any acts of any legislative body or Governmental Authority affecting such Subsidiary
Guarantor or any Borrower, including but not limited to, any restrictions on the conversion of currency or repatriation or control of funds or any total or partial expropriation of such Subsidiary Guarantor’s or any Borrower’s property, or
by economic, political, regulatory or other events in the countries where such Subsidiary Guarantor or any Borrower is located. 
 (f)
[Intentionally Omitted]. 
 (g) Subrogation. Each Subsidiary Guarantor shall not exercise any right of
subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Subsidiary Guaranty until all of the Guaranteed Borrower Obligations and any amounts payable under this Subsidiary Guaranty have
been paid and performed in full in cash and the Commitments and the Facilities are terminated. If any amounts are paid to any Subsidiary Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of
the Lender Parties and shall forthwith be paid to the Lender Parties to reduce the amount of the Guaranteed Borrower Obligations, whether matured or unmatured. 

(h) Termination; Reinstatement. This Subsidiary Guaranty is a continuing and irrevocable guaranty of all Guaranteed Borrower
Obligations now or hereafter existing and shall remain in full force and effect until all Guaranteed Borrower Obligations and any other amounts payable under this Subsidiary Guaranty are paid in full in cash and the Commitments and the Facilities
with respect to the Guaranteed Borrower Obligations are terminated. Notwithstanding the foregoing, this Subsidiary Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of any Borrower or
any Subsidiary Guarantor is made, or any of the Lender Parties exercises its right of setoff, in 

  
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respect of the Guaranteed Borrower Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set
aside or required (including pursuant to any settlement entered into by any of the Lender Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or
otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the Lender Parties are in possession of or have released this Subsidiary Guaranty and regardless of any prior revocation, rescission, termination
or reduction. The obligations of each Subsidiary Guarantor under this paragraph shall survive termination of this Subsidiary Guaranty. 

(i) Subordination. Each Subsidiary Guarantor hereby subordinates the payment of all obligations and indebtedness of each Borrower owing
to such Subsidiary Guarantor, whether now existing or hereafter arising, including but not limited to any obligation of any Borrower to such Subsidiary Guarantor as subrogee of the Lender Parties or resulting from such Subsidiary Guarantor’s
performance under this Subsidiary Guaranty, to the payment in full in cash of all Guaranteed Borrower Obligations; provided, however, that the foregoing subordination shall not be given effect until such time as the Lender Parties
shall have made a request to the Company pursuant to the second sentence of this Section 10.01(h). At any time any Event of Default shall have occurred and be continuing, if the Lender Parties so request, any such obligation or
indebtedness of any Borrower to any Subsidiary Guarantor shall be enforced and performance received by such Subsidiary Guarantor as trustee for the Lender Parties and the proceeds thereof shall be paid over to the Lender Parties on account of the
applicable Guaranteed Borrower Obligations, but without reducing or affecting in any manner the liability of such Subsidiary Guarantor under this Subsidiary Guaranty. 

(j) Stay of Acceleration. If acceleration of the time for payment of any of the Guaranteed Borrower Obligations is stayed, in
connection with any case commenced by or against any Subsidiary Guarantor or any Borrower under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by such Subsidiary Guarantor immediately upon demand by the Lender
Parties. 
 (k) Condition of Borrowers. Each Subsidiary Guarantor acknowledges and agrees that it has the sole responsibility for,
and has adequate means of, obtaining from the Borrowers and any other guarantor such information concerning the financial condition, business and operations of each Borrower and any such other guarantor as such Subsidiary Guarantor requires, and
that none of the Lender Parties has any duty, and such Subsidiary Guarantor is not relying on the Lender Parties at any time, to disclose to such Subsidiary Guarantor any information relating to the business, operations or financial condition of any
Borrower or any other guarantor (such Subsidiary Guarantor waiving any duty on the part of the Lender Parties to disclose such information and any defense relating to the failure to provide the same). 

ARTICLE XI. 

MISCELLANEOUS 
 11.01.
Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Company or any other Loan Party therefrom, shall be effective unless in writing signed by the Required
Lenders and the 

  
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Company or the applicable Loan Party, as the case may be, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall: 
 (a) waive any
condition set forth in Section 4.01, and, in the case of the initial Credit Extension, Section 4.02, without the written consent of each Lender; 

(b) without limiting the generality of clause (a) above, waive any condition set forth in Section 4.02 as to any Credit
Extension under a particular Facility without the written consent of the Required Revolving Lenders or the Required Term Lenders, as the case may be; 

(c) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the
written consent of such Lender; 
 (d) postpone any date fixed by this Agreement or any other Loan Document for any payment (excluding
mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders (or any of them) or any scheduled or mandatory reduction of any Commitments hereunder or under such other Loan Document without the written consent of each
Lender directly affected thereby (it being understood that any vote to rescind any acceleration of amounts owing with respect to the Loans and other Obligations under the Loan Documents shall only require the consent of the Required Lenders); 

(e) reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv) of the
last proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document without the written consent of each Lender directly affected thereby; provided, however, that only the consent
of the Required Lenders shall be necessary (i) to amend the definition of “Default Rate” or to waive any obligation of any Borrower to pay interest or Letter of Credit Fees at the Default Rate or (ii) to amend any financial
covenant hereunder (or any defined term used therein) even if the effect of such amendment would be to reduce the rate of interest on any Loan or L/C Borrowing or to reduce any fee payable hereunder; 

(f) change (i) Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the
written consent of each Lender directly affected thereby or (ii) the order of application of any reduction in the Commitments from the application thereof set forth in the applicable provisions of Section 2.06(b) or 2.06(c),
respectively, in any manner that materially and adversely affects the Lenders under a Facility without the written consent of (x) if such Facility is the Term Facility, the Required Term Lenders and (y) if such Facility is the Revolving
Credit Facility, the Required Revolving Lenders; 
 (g) amend Section 1.06 or the definition of “Alternative Currency”
without the written consent of each Revolving Credit Lender or amend Section 2.16(b) without the written consent of each Lender; 

(h) subject to Sections 2.17 and 2.18, change (i) any provision of this Section 11.01 or the definition of
“Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or 

  
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make any determination or grant any consent hereunder (other than the definitions specified in clause (ii) of this Section 11.01(h)), without the written consent of each Lender
or (ii) the definition of “Required Revolving Lenders” or “Required Term Lenders” without the written consent of each Lender under the applicable Facility; 

(i) release the Company from the Company Guaranty or release all or substantially all of the value of the Subsidiary Guaranty, without the
written consent of each Lender, except to the extent the release of any Subsidiary Guarantor from the Subsidiary Guaranty is permitted pursuant to Section 9.10 (in which case such release may be made by the Administrative Agent acting
alone); 
 (j) release any Designated Borrower under this Agreement, without the written consent of each Lender, except to the extent such
release is permitted pursuant to Section 9.10 (in which case such release may be made by the Administrative Agent acting alone); or 

(k) impose any greater restriction on the ability of any Lender under a Facility to assign any of its rights or obligations hereunder without
the written consent of (i) if such Facility is the Term Facility, the Required Term Lenders and (ii) if such Facility is the Revolving Credit Facility, the Required Revolving Lenders; 

and, provided further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the
Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and
signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the
Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; (iv) the Fee Letter may be amended, or rights or privileges thereunder
waived, in a writing executed only by the parties thereto and (v) the Administrative Agent and the Company may effect any amendment to the Loan Documents to reflect terms applicable to any Incremental Term Loan as provided in
Section 2.18(g) without the consent of any other Lender. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment,
waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of any Defaulting Lender
may not be increased or extended without the consent of such Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that by its terms affects any Defaulting Lender disproportionately
adversely relative to other affected Lenders shall require the consent of such Defaulting Lender. 
 11.02. Notices; Effectiveness;
Electronic Communications. (a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other
communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier as follows, and all notices and other communications expressly permitted
hereunder to be given by telephone shall be made to the applicable telephone number, as follows: 
 (i) if to the Company or
any other Loan Party, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address, telecopier number, electronic mail address or telephone number specified for such Person on Schedule 11.02; and 

(ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in its
Administrative Questionnaire as provided to the Administrative Agent and the Company (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of
notices that may contain material non-public information relating to the Loan Parties). 

  
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 Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to
have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below shall be effective as provided
in such subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders and the L/C Issuer
hereunder may be delivered or furnished by electronic communication (including e-mail, FpML messaging, and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply
to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication.
The Administrative Agent, the Swing Line Lender, the L/C Issuer or the Company may each, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it,
provided that approval of such procedures may be limited to particular notices or communications. 
 Unless the Administrative Agent
otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested”
function, as available, return e-mail or other written acknowledgement) and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail
address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such
notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next business day for the recipient. 

  
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 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”
THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY
KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to any Borrower, any Lender, the L/C Issuer or any other Person for losses,
claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Company’s, any other Loan Party’s or the Administrative Agent’s transmission of Borrower Materials or notices through the
platform, any other electronic platform or electronic messaging service, or through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent jurisdiction by a final and
non-appealable judgment to have resulted from the gross negligence or willful misconduct (including any willful breach of this Agreement) of such Agent Party; provided, however, that in no event shall any Agent Party have any liability
to any Borrower, any Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 

(d) Change of Address, Etc. Each of the Borrowers, the Administrative Agent, the L/C Issuer and the Swing Line Lender may change its
address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other communications hereunder by
notice to the Company, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an
effective address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. Furthermore, each Public Lender agrees
to cause at least one individual at or on behalf of such Public Lender to at all times have selected the “Private Side Information” or similar designation on the content declaration screen of the Platform in order to enable such Public
Lender or its delegate, in accordance with such Public Lender’s compliance procedures and applicable Law, including United States Federal and state securities Laws, to make reference to Borrower Materials that are not made available through the
“Public Side Information” portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws. 

(e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer and the Lenders, if acting in
good faith, shall be entitled to rely and act upon any notices purportedly given by or on behalf of any Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other
form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Company shall indemnify the 

  
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Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each
notice purportedly given by or on behalf of any Borrower, except to the extent that such losses, costs, expenses and liabilities are determined by a court of competent jurisdiction by a final and non-appealable judgment to have resulted from the
gross negligence or willful misconduct (including any willful breach of this Agreement) by the Person claiming such indemnification. All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the
Administrative Agent, and each of the parties hereto hereby consents to such recording. 
 11.03. No Waiver; Cumulative Remedies;
Enforcement. No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a
waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers
and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law. 

Notwithstanding anything to the contrary contained herein or in any other Loan Document, the authority to enforce rights and remedies
hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be instituted and maintained exclusively by, the
Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its
own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer or the Swing Line Lender from exercising the rights and remedies that
inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in accordance with Section 11.08
(subject to the terms of Section 2.13), or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law;
and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the
Administrative Agent pursuant to Section 8.02 and (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any Lender may, with the consent of
the Required Lenders, enforce any rights and remedies available to it under this Agreement, the other Loan Documents and under applicable Law as authorized by the Required Lenders. 

11.04. Expenses; Indemnity; Damage Waiver. (a) Costs and Expenses. Other than with respect to Taxes, which shall be
governed solely by Section 3.01, the Company shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the
Administrative Agent), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other

  
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Loan Documents or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all
reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or the L/C
Issuer) in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with Loans made or Letters of Credit
issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Indemnification by the Company. Other than with respect to Taxes, which shall be governed solely by Section 3.01, the
Company shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold
each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee or asserted against any Indemnitee by
any Person (including the Company and each other Loan Party) other than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or
any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the case of the
Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including
any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence
or release of Hazardous Materials on or from any property owned or operated by any Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to any Borrower or any of its Subsidiaries, or (iv) any actual or
prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Company or any other Loan Party or any of the Company’s
or such Loan Party’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR NOT CAUSED BY OR ARISING, IN WHOLE OR IN PART, OUT OF THE COMPARATIVE, CONTRIBUTORY OR SOLE
NEGLIGENCE OF THE INDEMNITEE; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent
jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct (including any willful breach of this Agreement) of such Indemnitee or (y) result from a claim brought by the Company or any
other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Company or such other Loan Party has obtained a final and non-appealable judgment in its favor on
such claim as determined by a court of competent jurisdiction. Without limiting the provisions of Section 3.01(c), this Section 11.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses,
claims, damages, etc. arising from any non-Tax claim. 

  
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 (c) Reimbursement by Lenders. To the extent that the Company for any reason fails to
indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer, the Swing Line Lender or any Related Party of any of
the foregoing, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C Issuer, the Swing Line Lender or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time
that the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Outstandings at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender),
such payment to be made severally among them based on such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought), provided further that the unreimbursed
expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), the L/C Issuer or the Swing Line Lender in its capacity as such, or
against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), the L/C Issuer or the Swing Line Lender in connection with such capacity. The obligations of the Lenders under this subsection
(c) are subject to the provisions of Section 2.12(e). 
 (d) Waiver of Consequential Damages, Etc. To the
fullest extent permitted by applicable law, no Loan Party shall assert, and each Loan Party hereby waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory of liability, for special, indirect,
consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions
contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any information
or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the transactions
contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct (including any willful breach of this Agreement) of such Indemnitee as determined by a final and non-appealable judgment
of a court of competent jurisdiction. 
 (e) Payments. All amounts due under this Section shall be payable not later than ten
Business Days after demand therefor. 
 (f) Survival. The agreements in this Section and the indemnity provisions of
Section 11.02(e) shall survive the resignation of the Administrative Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or
discharge of all the other Obligations. 
 11.05. Payments Set Aside. To the extent that any payment by or on behalf of any Borrower
is made to the Administrative Agent, the L/C Issuer or any Lender, or the 

  
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Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be
fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection
with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment
had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by
the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the applicable Overnight Rate from time to time in effect, in the applicable currency of such recovery
or payment. The obligations of the Lenders and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement. 

11.06. Successors and Assigns. (a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that neither any Borrower nor any other Loan Party may assign or otherwise transfer any of its rights or obligations hereunder
without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of
Section 11.06(b), (ii) by way of participation in accordance with the provisions of Section 11.06(d), or (iii) by way of pledge or assignment of a security interest subject to the restrictions of
Section 11.06(e) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto,
their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent, the L/C
Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) Assignments by
Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment(s) and the Loans (including for purposes of this
Section 11.06(b), participations in L/C Obligations and Swing Line Loans) at the time owing to it); provided that (in each case with respect to any Facility) any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. 

(A) (x) in the case of (1) an assignment of the entire remaining amount of the assigning Lender’s Commitment and/or
the Loans at the time owing to it (in each case with respect to any Facility) or (2) contemporaneous assignments to related Approved Funds (determined after giving effect to such assignments) that equal at least the amount specified in
paragraph (b)(i)(B) of this Section in the aggregate or (y) in the case of an assignment to a Lender, an Affiliate of a Lender 

  
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or an Approved Fund, no minimum amount need be assigned, provided that such assignment of a Commitment under any Facility and/or the Loans at the time owing to such Lender by PAREXEL
International Holding B.V. under any such Facility must be in a minimum amount equivalent to Euro 100,000 or any other amount which becomes applicable at any time as per the Decree on definitions pursuant to the Dutch Financial Supervision Act
(Besluit definitiebepalingen Wet financieel toezicht); and 
 (B) in any case not described in subsection (b)(i)(A) of
this Section, the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each
such assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date,
shall not be less than $5,000,000, in the case of any assignment in respect of the Revolving Credit Facility, or $1,000,000, in the case of any assignment in respect of the Term Facility, unless each of the Administrative Agent and, so long as no
Event of Default has occurred and is continuing, the Company otherwise consents (each such consent not to be unreasonably withheld or delayed); 

(ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not (A) apply to the Swing Line Lender’s rights and obligations in respect of
Swing Line Loans or (B) prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata basis; 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by subsection
(b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Company (such consent not to be unreasonably withheld
or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; 

(B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be required if such
assignment is to a Person that is not a Lender with a Commitment, an Affiliate of such Lender or an Approved Fund with respect to such Lender; 

(C) the consent of the L/C Issuer (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment of the Revolving Credit Facility that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 

(D) the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment in respect of the Revolving Credit Facility 

  
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 (iv) Assignment and Assumption. The parties to each assignment shall
execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect
to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Certain Persons. No such assignment shall be made (A) to the Company or any of the
Company’s Affiliates or Subsidiaries, or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B), (C) to
a natural Person (or a holding company, investment vehicle or trust for, or owned or operated for the primary benefit of a natural Person), (D) to any Person that, through its Lending Offices, is not capable of lending the applicable
Alternative Currencies to relevant Borrowers without the imposition of any additional Indemnified Taxes or Other Taxes, or (E) unless (x) an Event of Default has occurred and is continuing or (y) otherwise consented to by the Company
in writing, to any Person that, at the time of such assignment, would require any greater payment under Sections 3.01 or 3.04 than the assigning Lender, provided that such assignment shall not in any event be made (i) until
the moment guidance on the term “public” as meant under (ii) has been provided on an EU level to anyone other than professional market parties (professionele marktpartijen) as defined in the Dutch FSA and (ii) to anyone
that qualifies as a member of the “public” within the meaning of article 4(1) Capital Requirements Regulation (Regulation (EU) 575/2013) and the rules promulgated thereunder, as amended or any subsequent legislation replacing that
regulation, and any interpretation of aforementioned rules and regulations. 
 (vi) Certain Additional Payments. In
connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall
make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other
compensating actions, including funding, with the consent of the Company and the Administrative Agent, the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and
assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y) acquire (and fund
as appropriate) its full pro rata share of all Loans and participations in Letters of Credit in accordance with its Applicable Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such
compliance occurs. 

  
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 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this
Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and
obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be subject to the obligations under and entitled to the benefits
of Sections 3.01, 3.04, 3.05 and 11.04 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the
affected parties, no assignment by a Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Upon request, the Borrowers (at their expense) shall
execute and deliver Notes to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender
of a participation in such rights and obligations in accordance with Section 11.06(d). 
 (c) Register. The
Administrative Agent, acting solely for this purpose as an agent of the Borrowers (and such agency being solely for tax purposes), shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or
the equivalent thereof in electronic form) and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing to, each Lender
pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrowers, the Administrative Agent and the Lenders shall treat each Person whose name
is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrowers and any Lender, at any
reasonable time and from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the
consent of, or notice to, any Borrower or the Administrative Agent, sell participations to any Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned or operated for the primary benefit of a natural
Person, a Defaulting Lender or the Company or any of the Company’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a
portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrowers, the Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely
and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender shall be responsible for the indemnity under Section 11.04(c) without regard to the
existence of any participation. 

  
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 Any agreement or instrument pursuant to which a Lender sells such a participation shall provide
that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not,
without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 11.01 that affects such Participant. The Company agrees that each Participant shall be entitled to the
benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section (it being understood that the documentation
and confirmations required under Section 3.01(e) shall be delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section; provided that such Participant (A) agrees to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under paragraph (b) of this Section and (B) shall not be entitled to
receive any greater payment under Sections 3.01 or 3.04, with respect to any participation, than the Lender from whom it acquired the applicable participation would have been entitled to receive with respect to the participation sold
to such Participant unless the sale of the participation to such Participant is made with the Company’s prior written consent. Each Lender that sells a participation agrees, at the Company’s request and expense, to use reasonable efforts
to cooperate with the Company to effectuate the provisions of Section 3.06 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it
were a Lender; provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Company,
maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any
commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in
registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no
responsibility for maintaining a Participant Register. 
 (e) Certain Pledges. Any Lender may at any time pledge or assign a security
interest in all or any portion of its rights under this Agreement (including under its Note(s), if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or other central banking
authority having jurisdiction over such Lender; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

  
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 (f) Resignation as L/C Issuer after Assignment. Notwithstanding anything to the contrary
contained herein, if at any time Bank of America assigns all of its Revolving Credit Commitment and Revolving Credit Loans pursuant to subsection (b) above, Bank of America may, (i) upon 30 days’ notice to the Company and the Lenders,
resign as L/C Issuer and/or (ii) upon 30 days’ notice to the Company, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Company shall be entitled to appoint from among the Lenders a
successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Company to appoint any such successor shall affect the resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of
America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C
Obligations with respect thereto (including the right to require the Lenders to make Base Rate Committed Loans or fund risk participations in Unreimbursed Amounts pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line
Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such resignation, including the right to require the Lenders to make Base
Rate Committed Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or Swing Line Lender, (a) such successor shall succeed to and become
vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any,
outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to such Letters of Credit. 

11.07. Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the Lenders and the L/C Issuer agrees to
maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed
of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties
(including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party
hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder,
(f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this
Agreement or any Eligible Assignee invited to be a Lender pursuant to Section 2.17 or 2.18 or (ii) any actual or prospective party (or its Related Parties) to any swap or derivative transaction relating to a Borrower and its
obligations, (g) on a confidential basis, to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to the credit facilities provided hereunder,
provided that in the case of this clause (g), such confidential information shall only consist of a copy of this Agreement or the other Loan Documents necessary for such issuance and monitoring of CUSIP numbers or other market identifiers,
(h) with the consent of the Company 

  
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or (i) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent, any
Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the Company or any of its Subsidiaries; provided, however, that each of the Administrative Agent, the Lenders and the L/C
Issuer agrees that, to the extent permitted by applicable Law, such Person shall use reasonable commercial efforts to provide the Company with prior notice of any disclosure of Information referred to in clauses (b) and (c) above to allow
the Company to seek a protective order preventing such disclosure. In addition, the Administrative Agent and the Lenders may disclose the existence of this Agreement and information about this Agreement to market data collectors, similar service
providers to the lending industry and service providers to the Agents and the Lenders in connection with the administration of this Agreement, the other Loan Documents, and the Commitments. 

For purposes of this Agreement, “Information” means all information received by or on behalf of the Company or any Subsidiary
relating to the Company or any Subsidiary or any of their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the L/C Issuer on a nonconfidential basis prior to disclosure by the
Company or any Subsidiary. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Information as such Person would accord to its own confidential information. 
 Each of the
Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning a Loan Party or a Subsidiary thereof, as the case may be, (b) it has developed compliance
procedures regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including United States Federal and state securities Laws. 

EACH LENDER REPRESENTS TO THE COMPANY AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT
WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

11.08. Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their
respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of any Borrower or any other Loan Party against any and all of the
obligations of such Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or L/C Issuer shall have made any demand under
this Agreement or any other Loan Document and although such obligations of such Borrower or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding

  
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such deposit or obligated on such indebtedness; provided, that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be
paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section 2.15 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in
trust for the benefit of the Administrative Agent and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender as
to which it exercised such right of setoff. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C Issuer
or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Company and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect
the validity of such setoff and application. Notwithstanding the provisions of this Section 11.08, if at any time any Lender, the L/C Issuer or any of their respective Affiliates maintains one or more deposit accounts for any Borrower or
any other Loan Party into which Medicare and/or Medicaid receivables are deposited, such Lender, the L/C Issuer or Affiliate hereby waive the right of setoff set forth herein. 

11.09. Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed
to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount that
exceeds the Maximum Rate, to the extent not prohibited by applicable Law, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Company. In determining whether the interest
contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium
rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations
hereunder. 
 11.10. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different
parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents, and any separate letter agreements with
respect to fees payable to the Administrative Agent or the L/C Issuer, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating
to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts
hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic imaging means (e.g., “pdf” or
“tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. 
 11.11. Survival of
Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document delivered 

  
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pursuant hereto or thereto or in connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon
by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any
Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 

11.12. Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable,
(a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the
illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall
not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 11.12, if and to the extent that the enforceability of any provisions in this Agreement relating
to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent or the L/C Issuer, as applicable, then such provisions shall be deemed to be in effect only to the extent not so limited. 

11.13. Replacement of Lenders. If (w) the Company is entitled to replace a Lender pursuant to the provisions of
Section 3.06, (x) any Lender is a Defaulting Lender or a Non-Consenting Lender, (y) any Lender is prohibited under applicable Law from making Loans and other Credit Extensions to an Applicant Borrower in accordance with the
terms of this Agreement and the other Loan Documents, and the Required Lenders are permitted under applicable Law to make Loans to such Applicant Borrower, or (z) any other circumstance exists hereunder that gives the Company the right to
replace a Lender as a party hereto, then the Company may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the
restrictions contained in, and consents required by, Section 11.06), all of its interests, rights (other than its existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations under this Agreement and
the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment), provided that: 

(a) unless waived or modified by the Administrative Agent, the Company shall have paid (or caused a Designated Borrower to pay) to the
Administrative Agent the assignment fee specified in Section 11.06(b); 
 (b) such Lender shall have received payment of an
amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05)
from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company or applicable Designated Borrower (in the case of all other amounts); 

  
 -138- 

 (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; 

(d) such assignment does not conflict with applicable Laws; 

(e) in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender, the applicable assignee shall have consented to the
applicable amendment, waiver or consent; 
 (f) in the case of an assignment resulting from a Lender providing notice of an Alternate
Interest Rate Restriction, the (i) applicable assignee shall have no applicable Alternate Interest Rate Restriction and (ii) the Required Lenders or the Administrative Agent shall not have revoked such applicable alternate interest rate
pursuant to Section 3.03; and 
 (g) in the case of an assignment resulting from a circumstance described in clause
(y) above, (1) the applicable assignee shall be permitted under Law to make Loans and other Credit Extensions to the relevant Applicant Borrower in accordance with the terms of this Agreement and the other Loan Documents, and
(2) after giving effect to such assignment (and any other concurrent assignments made in connection therewith), each Lender shall be permitted under applicable Law to make Loans to such relevant Applicant Borrower. 

A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or
otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply. 
 11.14. Governing Law;
Jurisdiction; Etc. (a) GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK (WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE THAT WOULD CAUSE THE APPLICATION OF THE DOMESTIC SUBSTANTIVE LAWS OF ANY OTHER STATE). 

(a) SUBMISSION TO JURISDICTION. THE COMPANY AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE
ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY LENDER, THE L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY
RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND 

  
 -139- 

 
OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE
JURISDICTION OF SUCH COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT.
EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS
AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE COMPANY
OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (b) WAIVER OF VENUE. EACH BORROWER AND EACH OTHER
LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR
ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE
OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT. 
 (c) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF
PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

(d) APPOINTMENT OF PROCESS AGENT. EACH LOAN PARTY (OTHER THAN THE COMPANY AND EACH DOMESTIC SUBSIDIARY) (A) IRREVOCABLY APPOINTS
THE COMPANY AS ITS AGENT FOR THE SERVICE OF PROCESS IN RELATION TO ANY PROCEEDINGS BEFORE THE COURTS OF THE STATE OF NEW YORK IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT GOVERNED BY THE LAW OF THE STATE OF NEW YORK; AND
(B) AGREES THAT FAILURE BY A PROCESS AGENT TO NOTIFY THE RELEVANT LOAN PARTY OF THE PROCESS WILL NOT INVALIDATE THE PROCEEDINGS CONCERNED. 

11.15. 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 

  
 -140- 

 
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND
(B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

11.16. No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby (including in
connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Borrower and each other Loan Party acknowledges and agrees, and acknowledges its Affiliates’ understanding, that: (i) (A) the
arranging and other services regarding this Agreement provided by the Administrative Agent, MLPFS, and the other Arrangers are arm’s-length commercial transactions between such Borrower, each other Loan Party and their respective Affiliates, on
the one hand, and the Administrative Agent, MLPFS, and the other Arrangers, on the other hand, (B) each of such Borrower and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (C) such Borrower and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii) (A) the
Administrative Agent, MLPFS, and each other Arranger each is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or fiduciary
for such Borrower, any other Loan Party or any of their respective Affiliates, or any other Person and (B) neither the Administrative Agent, MLPFS nor any other Arranger has any obligation to such Borrower, any other Loan Party or any of their
respective Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Administrative Agent, MLPFS and the other Arrangers and their
respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of such Borrower, the other Loan Parties and their respective Affiliates, and neither the Administrative Agent, MLPFS nor any other
Arranger has any obligation to disclose any of such interests to the Borrower, any other Loan Party or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrowers and the other Loan Parties hereby waives and
releases any claims that it may have against the Administrative Agent, MLPFS and the other Arrangers with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

11.17. Electronic Execution of Assignments and Certain Other Documents. The words “execute,” “execution,”
“signed,” “signature,” and words of like import in or related to any document to be signed in connection with this Agreement and the transactions contemplated hereby (including without limitation Assignment and Assumptions,
amendments or other modifications, Committed Loan Notices, Swing Line Loan Notices, waivers and consents) shall be deemed to include electronic signatures, the electronic matching of assignment terms and

  
 -141- 

 
contract formations on electronic platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or
enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National
Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary the
Administrative Agent is under no obligation to agree to accept electronic signatures in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it. 

11.18. USA PATRIOT Act. Each Lender that is subject to the Act (as hereinafter defined) and the Administrative Agent (for itself and
not on behalf of any Lender) hereby notifies the Borrowers that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and
record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in
accordance with the Act. Each Borrower shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its
ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act. 

11.19. Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or
any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such other currency on the
Business Day preceding that on which final judgment is given. The obligation of each Borrower in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under the other Loan Documents shall, notwithstanding any
judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the
extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the Administrative Agent or such Lender, as the case may be, may in
accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum originally due to the Administrative Agent or any Lender from any
Borrower in the Agreement Currency, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Administrative Agent or such Lender, as the case may be, against such loss. If the amount of the Agreement
Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the Administrative Agent or such Lender, as the case may be, agrees to return the amount of any excess to such Borrower (or to
any other Person who may be entitled thereto under applicable law). 
 11.20. Liability for Obligations. Notwithstanding anything to
the contrary contained in this Agreement or in the other Loan Documents, the parties agree that: (a) no Designated 

  
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Borrower that is a Foreign Obligor shall be liable for any obligation of the Company or any Subsidiary Guarantor arising under or with respect to any of the Loan Documents; (b) each
Designated Borrower that is a Foreign Obligor shall be severally liable only for the obligations of such Person; and (c) neither the Administrative Agent, any Lender, the L/C Issuer nor any Affiliate thereof, may set-off or apply any deposits
of a Designated Borrower that is a Foreign Obligor or any other obligations at the time owing to or for the credit of the account of any Designated Borrower that is a Foreign Obligor by the Administrative Agent, such Lender, the L/C Issuer or such
Affiliate thereof, against any or all of the obligations of the Company or any Subsidiary Guarantor. 
 11.21. Amendment and Restatement
of Existing Credit Agreement. On the Closing Date, this Agreement shall amend, restate and supersede the Existing Credit Agreement in its entirety, except as provided in this Section 11.21. On the Closing Date, the rights and
obligations of the parties evidenced by the Existing Credit Agreement and the promissory notes issued thereunder shall be evidenced by this Agreement and the other Loan Documents. All references to the Existing Credit Agreement in any Loan Document
or other document or instrument delivered in connection therewith shall be deemed to refer to this Agreement and the provisions hereof. Without limiting the generality of the foregoing and to the extent necessary, the existing lenders, the Lenders
and the Administrative Agent reserve all of their rights under the Existing Credit Agreement and the other “Loan Documents” (as defined in the Existing Credit Agreement) which by their express terms survive the termination of the Existing
Credit Agreement and each of the Subsidiary Guarantors hereby obligates itself again in respect of all such present and future “Obligations” (as defined in the Existing Credit Agreement). Nothing contained herein shall be construed as a
novation of the “Obligations” outstanding under and as defined in the Existing Credit Agreement, which shall remain in full force and effect, except as modified hereby. 

11.22. Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan
Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any Lender that is an EEA Financial Institution arising under any Loan Document, to the extent such
liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 

(a) the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may
be payable to it by any Lender that is an EEA Financial Institution; and 
 (b) the effects of any Bail-in Action on any such liability,
including, if applicable: 
 (i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 
 (iii) the variation of the terms of such liability in
connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority. 

  
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 11.23. ENTIRE AGREEMENT. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL
AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 

[Remainder of Page Left Intentionally Blank] 

  
 -144- 

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

			
	BORROWERS:
	
	PAREXEL INTERNATIONAL CORPORATION
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Senior Vice President and
		 	Chief Financial Officer

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	SUBSIDIARY GUARANTORS:
	
	PAREXEL INTERNATIONAL, LLC
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Treasurer
	
	PERCEPTIVE INFORMATICS, INC
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Treasurer
	
	DATALABS INC.
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Treasurer
	
	CLINPHONE CALIFORNIA INC.
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Treasurer
	
	PERCEPTIVE SERVICES, INC.
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Treasurer
	
	LIQUENT, INC.
		
	By:	 	 /s/ Ingo Bank

	Name:	 	Ingo Bank
	Title:	 	Treasurer

  
 PAREXEL – Third
A&R Credit Agreement 

					
	SIGNED for and on behalf of PAREXEL INTERNATIONAL (IRL) LIMITED by its lawfully appointed attorney in the presence of:-	 		 	 /s/ Ingo Bank

		 		 	(Attorney Signature)
		 		 	
			
	 /s/ Denise E. Nelson
	 		 	Print Name: Ingo Bank
	(Witness’ Signature)	 		 	
			
	 195 West St., Waltham, MA
	 		 	
	(Witness’ Address)	 		 	
			
	 Manager
	 		 	
	(Witness’ Occupation)	 		 	

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	PAREXEL INTERNATIONAL HOLDING B.V.
		
	By:	 	 /s/ Peter Rietman

	Name:	 	Peter Rietman
	Title:	 	Managing Director

  
 PAREXEL – Third
A&R Credit Agreement 

 Accepted and agreed as of the date first set forth above: 

 

			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Angela Larkin

	Name:	 	Angela Larkin
	Title:	 	Assistant Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	 /s/ Linda Alto

	Name:	 	Linda Alto
	Title:	 	Senior Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	HSBC BANK USA, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Zhiyan Zeng

	Name:	 	Zhiyan Zeng
	Title:	 	Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	TD BANK, N.A., as a Lender
		
	By:	 	 /s/ Alan Garson

	Name:	 	Alan Garson
	Title:	 	Senior Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	U.S. BANK NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Jennifer A. Hwan

	Name:	 	Jennifer A. Hwang
	Title:	 	Senior Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Christine Gardiner

	Name:	 	Christine Gardiner
	Title:	 	Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	TD BANK, N.A., as a Lender
		
	By:	 	 /s/ D. Scott Farquhar

	Name:	 	D. Scott Farquhar
	Title:	 	Executive Director

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	CITIZENS BANK, N.A., as a Lender
		
	By:	 	 /s/ Darran Wee

	Name:	 	Darran Wee
	Title:	 	Senior Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	ING BANK N.V., DUBLIN BRANCH, as a Lender
		
	By:	 	 /s/ Sean Hassett

	Name:	 	Sean Hassett
	Title:	 	Director
		
	By:	 	 /s/ Cormac Langford

	Name:	 	Cormac Langford
	Title:	 	Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 
			
	PEOPLE’S UNITED BANK, NATIONAL ASSOCIATION, as a Lender
		
	By:	 	 /s/ Robert Hazard

	Name:	 	Robert Hazard
	Title:	 	Senior Vice President

  
 PAREXEL – Third
A&R Credit Agreement 

 EXHIBIT A 

FORM OF COMMITTED LOAN NOTICE 

Date:                  , 201   

 

	To:	Bank of America, N.A., as Administrative Agent 

 Ladies and Gentlemen: 

Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated,
extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts corporation (the “Company”), certain Subsidiaries
of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders party thereto from time to time, and Bank of America, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer. All capitalized terms used in this Committed Loan Notice and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

The [Company] [Designated Borrower referenced in item 6 below (the “Applicable Designated Borrower”)], as applicable, requests (select one):

  

	 ̈	A Borrowing of [Revolving Credit][Term] Loans 

  

	 ̈	A conversion or continuation of [Revolving Credit][Term] Loans 

  

	1.	On
                                         
                            (a Business Day). 

 

	2.	In the amount of
                                         
   . 

  

	3.	Comprised of
                                         
       . 

	                                  
[Type	of Loan requested] 

  

	4.	In the following currency:
                                        .

  

	5.	For Eurocurrency Rate Loans: with an Interest Period of     months. 

  

	6.	                                    
    [Insert name of Applicable Designated Borrower]. 

 [The Revolving Credit Borrowing requested herein complies
with the proviso to the first sentence of Section 2.01(b) of the Credit Agreement. The applicable Borrower hereby directs that the proceeds of the Revolving Credit Loans requested herein be disbursed in the manner set forth on Exhibit
A attached hereto.]1 
 [Remainder of the page intentionally blank]

  

	1	Include this sentence in the case of a Revolving Credit Borrowing. 

 The applicable Borrower hereby represents and warrants that the conditions specified in
Sections 4.02(a) and (b) of the Credit Agreement shall be satisfied on and as of the date of the applicable Credit Extension. 
  

			
	[APPLICABLE BORROWER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT A 

Disbursement Instructions 

[                    ] 

[                    ] 

[                    ] 

[                    ] 

[                    ] 

 EXHIBIT B 

FORM OF TERM NOTE 

                 , 201   

FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
                    or its registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter
defined), the principal amount of the Term Loan made by the Lender to the Borrower under that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated, extended, supplemented or
otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among PAREXEL International Corporation, a Massachusetts corporation (the
“Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the lenders party thereto from
time to time (including the Lender), and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 
 The
Borrower promises to pay interest on the unpaid principal amount of the Term Loans made by the Lender from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All
payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars at the Administrative Agent’s Office for payments denominated in Dollars. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 

This Term Note (the “Term Note”) is one of the Term Notes referred to in the Agreement, is entitled to the benefits thereof
and may be prepaid in whole or in part subject to the terms and conditions provided therein. This Term Note is also entitled to the benefits of the Guaranties. Upon the occurrence and continuation of one or more of the Events of Default specified in
the Agreement, all amounts then remaining unpaid on this Term Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. The Term Loan made by the Lender shall be evidenced by one or more loan accounts
or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Term Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 

The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand,
dishonor and non-payment of this Term Note. 

  
 PAREXEL – Third
A&R Credit Agreement 

 THIS NOTE AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR
OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS NOTE AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW
PROVISION OR RULE THAT WOULD CAUSE THE APPLICATION OF THE DOMESTIC SUBSTANTIVE LAWS OF ANY OTHER STATE). 
  

			
	PAREXEL INTERNATIONAL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	  	Type of
Loan Made	  	Amount of
Loan Made	  	End of
Interest
Period	  	Amount of
Principal or
Interest Paid
This Date	  	Outstanding
Principal
Balance This
Date	  	Notation
Made By
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	

 EXHIBIT C 

FORM OF REVOLVING CREDIT NOTE 

                 , 201   

FOR VALUE RECEIVED, the undersigned (the “Borrower”), hereby promises to pay to
                    or its registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter
defined), the principal amount of each Revolving Credit Loan from time to time made by the Lender to the Borrower under that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and
restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among PAREXEL International Corporation, a Massachusetts
corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the lenders
party thereto from time to time (including the Lender), and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 

The Borrower promises to pay interest on the unpaid principal amount of each Revolving Credit Loan from the date of such Loan until such
principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. Except as otherwise provided in Section 2.04(f) of the Agreement with respect to Swing Line Loans, all payments of principal and
interest shall be made to the Administrative Agent for the account of the Lender in the currency in which such Loan is denominated and in Same Day Funds at the Administrative Agent’s Office for such currency. If any amount is not paid in full
when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 

This Revolving Credit Note is one of the Revolving Credit Notes referred to in the Agreement, is entitled to the benefits thereof and may be
prepaid in whole or in part subject to the terms and conditions provided therein. This Revolving Credit Note is also entitled to the benefits of the Guaranties. Upon the occurrence and continuation of one or more of the Events of Default specified
in the Agreement, all amounts then remaining unpaid on this Revolving Credit Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Revolving Credit Loans made by the Lender shall be evidenced by
one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules to this Revolving Credit Note and endorse thereon the date, amount, currency and maturity of its Revolving Credit
Loans and payments with respect thereto. 

  
 PAREXEL – Third
A&R Credit Agreement 

 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment,
protest and demand and notice of protest, demand, dishonor and non-payment of this Revolving Credit Note. 

 THIS NOTE AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR
OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS NOTE AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW
PROVISION OR RULE THAT WOULD CAUSE THE APPLICATION OF THE DOMESTIC SUBSTANTIVE LAWS OF ANY OTHER STATE). 
  

			
	[APPLICABLE BORROWER]
		
	By:	 	  

	Name:	 	
	Title:	 	

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	  	Type of
Loan Made	  	Currency
and Amount
of Loan
Made	  	End of
Interest
Period	  	Amount of
Principal or
Interest Paid
This Date	  	Outstanding
Principal
Balance This
Date	  	Notation
Made By
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	
		  		  		  		  		  		  	

 EXHIBIT D 

FORM OF COMPLIANCE CERTIFICATE 

Financial Statement Date:                  ,
201               
  

	 	To:	Bank of America, N.A., as Administrative Agent 

 Ladies and Gentlemen: 

Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended
and restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among PAREXEL INTERNATIONAL CORPORATION, a
Massachusetts corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors,
the Lenders party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 

The undersigned Financial Officer1 hereby certifies as of the date
hereof that he/she is the
                                        of the
Company, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Company, and that: 

[Use following paragraph 1 for fiscal year-end financial statements] 

1. The Company has delivered the year-end audited consolidated financial statements required by Section 6.01(a)
of the Agreement for the fiscal year of the Company ended as of the above date, together with the report of an independent certified public accountant required by such section. 

 

	1	This certificate should be from the chief financial officer, principal accounting officer, treasurer or controller of the Company. 

 [Use following paragraph 1 for quarter-end financial statements] 

1. The Company has delivered the unaudited consolidated financial statements required by Section 6.01(b) of the
Agreement for the fiscal quarter of the Company ended as of the above date. Such consolidated financial statements fairly present, in all material respects, the financial condition, results of operations, and cash flows of the Company and its
consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied, subject to normal year-end audit adjustments and the absence of footnotes. 

2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her
supervision, a detailed review of the transactions and condition (financial or otherwise) of the Company and the other Loan Parties during the accounting period covered by such financial statements. 

3. A review of the activities of the Company and the other Loan Parties during such fiscal period has been made under the supervision of the
undersigned with a view to determining whether during such fiscal period the Company and the other Loan Parties performed and observed all of their respective Obligations under the Loan Documents, and 

[select one:] 
 [to the
best knowledge of the undersigned, during such fiscal period the Company and each of the other Loan Parties performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.]

 —or— 
 [to
the best knowledge of the undersigned, during such fiscal period the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:] 

4. The financial covenant analyses and information set forth on Schedule 1 attached hereto are true and accurate in all material
respects on and as of the Financial Statement Date. 
 [Remainder of the page intentionally blank] 

 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of
                 , 201  . 
  

			
	PAREXEL INTERNATIONAL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 For the Quarter/Year ended             
    , 201  . (“Statement Date”) 
 SCHEDULE 1 

to the Compliance Certificate 
 ($
in 000’s) 
  

											
	I.	 	Section 7.11(a) – Consolidated Interest Coverage Ratio.	  			
				
		 	 A.
	 	Consolidated EBITDA for the period of four consecutive fiscal quarters of the Company ending on the above date (“Subject Period”)1:	  			
					
		 		 	1.	  	Consolidated Net Income for Subject Period:	  	 	$            	  
					
		 		 	2.	  	Consolidated Interest Charges for Subject Period (to the extent deducted in calculating Consolidated Net Income, without duplication):	  	 	$            	  
					
		 		 	3.	  	Provision for federal, state, local and foreign income taxes payable by the Company and its Subsidiaries for Subject Period (to the extent deducted in calculating Consolidated Net Income, without duplication):	  	 	$            	  
					
		 		 	4.	  	Depreciation expenses for Subject Period (to the extent deducted in calculating Consolidated Net Income, without duplication):	  	 	$            	  
					
		 		 	5.	  	Amortization expenses for Subject Period (to the extent deducted in calculating Consolidated Net Income, without duplication):	  	 	$            	  
					
		 		 	6.	  	Non-cash compensation charges arising from any grant of stock, stock options or other equity-based awards for Subject Period (to the extent deducted in calculating Consolidated Net Income, without duplication):	  	 	$            	  
					
		 		 	7.	  	Employee severance and other restructuring charges in connection with the Company’s margin acceleration program in an amount not to exceed $20 million for the fourth quarter of fiscal year 2015, $14.8 million for the
first fiscal quarter of 2016, $10.4 million for the second fiscal quarter of 2016, $5 million for the third fiscal quarter of 2016, and $5 million for the fourth fiscal quarter of 2016 (to the extent deducted in calculating Consolidated Net
Income, without duplication):	  	 	$            	  
					
		 		 	8.	  	For any Subject Period in which the Company or any Subsidiary of the Company made an Acquisition, all Consolidated EBITDA attributable to any Person or business acquired by the Company or any Subsidiary of the Company pursuant to an
Acquisition during the Subject Period as if such Person or business had been acquired on the day before the first day of such Subject Period:	  	 	$            	  

  

	1	As determined in accordance with Part III of this Schedule I. 

									
					
		 		 	9.	  	For any Subject Period in which the Company or any Subsidiary of the Company made a Disposition, all Consolidated EBITDA attributable to any Person or business Disposed of by the Company or any Subsidiary of the Company during the
Subject Period as if such Person or business were Disposed of on the first day of such Subject Period:	  	$            
					
		 		 	10.	  	Consolidated EBITDA (Lines I.A.1 + 2 + 3 + 4 + 5+ 6 + 7 + 8 - 9):	  	$            
				
		 	 B.
	 	Consolidated Interest Charges for Subject Period:	  	$            
				
		 	 C.
	 	Consolidated Interest Coverage Ratio (Line I.A.10 ÷ Line I.B):	  	         to 1.00
			
		 	 Minimum required: 3.50 to 1.00
	  	
			
	 II.
	 	 Section 7.11(b) – Consolidated Net Leverage Ratio.
	  	
				
		 	 A.
	 	Consolidated Funded Indebtedness at Statement Date:	  	
					
		 		 	1.	  	The outstanding principal amount of all Indebtedness of the Company and its Subsidiaries, on a consolidated basis, at Statement Date:	  	$            
					
		 		 	2.	  	The aggregate amount of cash of the Company and each other Credit Party that is maintained in the United States with a Lender at Statement Date that (i) would not appear as “restricted” on a consolidated balance sheet
of the Company and its Subsidiaries and (ii) is not otherwise subject to any Lien (other than Liens contemplated under Section 7.02(h)(iii) or (iv) of the Credit Agreement), except in favor of the Administrative Agent or any Lender
pursuant to any Loan Document to secure the Obligations2:	  	$            
					
		 		 	3.	  	Consolidated Funded Indebtedness (Line II.A.1 - Line II.A.2):	  	$            
				
		 	B.	 	Consolidated EBITDA for Subject Period (Line I.A.10 above):	  	$            

 

	2	Aggregate amount not to exceed $50,000,000. 

  
 173 

									
					
		 		 	C.	  	Consolidated Net Leverage Ratio (Line II.A.3 ÷ Line II.B):	  	         to 1.00
				
		 		 	Maximum permitted:
[3.00]3[4.00]4[3.75]5[3.50]6[3.25]7 to 1.00 (subject to adjustment as provided below).	  	
				
		 		 	Section 7.11 (b) – Adjusted Consolidated Net Leverage Ratio.	  	
					
		 		 	D.	  	Is the Adjusted Consolidated Net Leverage Ratio in effect:	  	[YES][NO]
					
		 		 	E.	  	If “Yes”:	  	
					
		 		 		  	  
 (1) Commencement date of the most recent Adjusted Consolidated Net
Leverage Ratio was:                  , 201  .
  

(2) The date that that is one full fiscal quarter following the date of the consummation of the Permitted Material Acquisition that gave rise to the most
recent application of the Adjusted Consolidated Net Leverage Ratio was/is:                  , 201  .

 
 (3) The date that that is two full fiscal quarters following the date of the consummation
of the Permitted Material Acquisition that gave rise to the most recent application of the Adjusted Consolidated Net Leverage Ratio was/is:                  ,
201  .
  
 (4) The date that that is three full fiscal quarters following the
date of the consummation of the Permitted Material Acquisition that gave rise to the most recent application Adjusted Consolidated Net Leverage Ratio was/is:             
    , 201  .
  
 (5) The date that that is four full fiscal
quarters following the date of the consummation of the Permitted Material Acquisition that gave rise to the most recent application Adjusted Consolidated Net Leverage Ratio is:            
    , 201  .
	  	

  

	3	Select at all times other than during any period in which the Adjusted Consolidated Net Leverage Ratio is in effect. 

	4	Select when the Adjusted Consolidated Net Leverage Ratio is in effect and Subject Period ends on a date that occurs on or prior to the date that is one full
fiscal quarters following the date of the consummation of the Permitted Material Acquisition that gave rise to the most recent application of the Adjusted Consolidated Net Leverage Ratio. 

	5	Select when the Adjusted Consolidated Net Leverage Ratio is in effect and Subject Period ends on a date that occurs on or prior to the date that is two (but
after one) full fiscal quarters following the date of the consummation of the Permitted Material Acquisition that gave rise to the most recent application of the Adjusted Consolidated Net Leverage Ratio. 

	6	Select when the Adjusted Consolidated Net Leverage Ratio is in effect and Subject Period ends on a date that occurs on or prior to the date that is three (but
after two) full fiscal quarters following the date of the consummation of the Permitted Material Acquisition that gave rise to the most recent application of the Adjusted Consolidated Net Leverage Ratio. 

	7	Select when the Adjusted Consolidated Net Leverage Ratio is in effect and Subject Period ends on a date that occurs on or prior to the date that is four (but
after three) full fiscal quarters following the date of the consummation of the Permitted Material Acquisition that gave rise to the most recent application of the Adjusted Consolidated Net Leverage Ratio. 

	III.	Section 1.01 – Definition of Consolidated EBITDA. 

  

											
	 Consolidated EBITDA
	  	Quarter
Ended	  	Quarter
Ended	  	Quarter
Ended	  	Quarter
Ended	  	Twelve
Months
Ended
						
	 Consolidated Net Income
	  		  		  		  		  	
						
	 + Consolidated Interest Charges
	  		  		  		  		  	
						
	 + federal, state, local and foreign income taxes
	  		  		  		  		  	
						
	 + depreciation expense
	  		  		  		  		  	
						
	 + amortization expense
	  		  		  		  		  	
						
	 + non-cash compensation charges arising from any grant of stock, stock options or other equity-based awards
	  		  		  		  		  	
						
	 + employee severance and other restructuring charges in connection with the Company’s margin acceleration program8
	  		  		  		  		  	
						
	 +/- pro forma adjustments for Acquisitions and Dispositions
	  		  		  		  		  	
						
	 = Consolidated EBITDA
	  		  		  		  		  	

  

	8	Not to exceed (i) $20 million for the fourth quarter of fiscal year 2015, (ii) $14.8 million for the first fiscal quarter of 2016, (iii) $10.4 million for the second fiscal quarter of 2016, (iv) $5
million for the third fiscal quarter of 2016, and (v) $5 million for the fourth fiscal quarter of 2016. 

 EXHIBIT E 

FORM OF ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [the][each]1 Assignor identified in item 1 below ([the][each, an] “Assignor”) and
[the][each]2 Assignee identified in item 2 below ([the][each, an] “Assignee”). [It is understood and agreed that the rights and obligations of [the Assignors][the
Assignees]3 hereunder are several and not joint.]4 Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified in paragraph 5 below (the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by [the][each] Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto
are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, [the][each] Assignor hereby irrevocably sells and assigns to [the Assignee][the respective Assignees], and
[the][each] Assignee hereby irrevocably purchases and assumes from [the Assignor][the respective Assignors], subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of [the Assignor’s][the respective Assignors’] rights and obligations in [its capacity as a Lender][their respective capacities as Lenders] under the Credit Agreement and any other
documents or instruments delivered pursuant thereto in the amount[s] and equal to the percentage interest[s] identified below of all of the outstanding rights and obligations under the respective facilities identified below (including, without
limitation, the Letters of Credit and the Swing Line Loans included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of [the Assignor (in its
capacity as a Lender)][the respective Assignors (in their respective capacities as Lenders)] against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in
equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by [the][any] Assignor to [the][any] Assignee pursuant to clauses (i) and (ii) above being
referred to herein collectively as [the][an] “Assigned Interest”). Each such sale and assignment is without recourse to [the][any] Assignor and, except as expressly provided in this Assignment and Assumption, without representation
or warranty by [the][any] Assignor. 
  

	1	For bracketed language here and elsewhere in this form relating to the Assignor(s), if the assignment is from a single Assignor, choose the first bracketed language. If the assignment is from multiple Assignors, choose
the second bracketed language. 

	2	For bracketed language here and elsewhere in this form relating to the Assignee(s), if the assignment is to a single Assignee, choose the first bracketed language. If the assignment is to multiple Assignees, choose the
second bracketed language. 

	3	Select as appropriate. 

	4	Include bracketed language if there are either multiple Assignors or multiple Assignees. 

							
	1.	  	Assignor[s]:	  	  
	  	
				
		  		  	  
	  	
			
		  	[Assignor [is] [is not] a Defaulting Lender]	  	
				
	2.	  	Assignee[s]:	  	  
	  	
				
		  		  	  
	  	
			
		  		  	[for each Assignee, indicate [Affiliate][Approved Fund] of [identify Lender]]
		
	3.	  	Borrower(s): PAREXEL International Corporation, a Massachusetts corporation (the “Company”) and the following Designated Borrower(s):
            
		
	4.	  	Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit Agreement
		
	5.	  	Credit Agreement: Third Amended and Restated Credit Agreement, dated as of March 11, 2016, among the Company, certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers,
certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer
		
	6.	  	Assigned Interest:

	

																			
	 Assignor[s]5
	  	Assignee[s]6	  	Facility
Assigned7	  	Aggregate
Amount of
Commitment/Loans
for all Lenders8	 	  	Amount of
Commitment
/Loans
Assigned9	 	  	Percentage
Assigned of
Commitment/
Loans10	 	 	CUSIP
Number
							
		  		  		  	$	            	  	  	$	            	  	  	 	        	% 	 	
		  		  		  	$	            	  	  	$	            	  	  	 	        	% 	 	
		  		  		  	$	            	  	  	$	            	  	  	 	        	% 	 	

  

	[7.	Trade Date:                     ]11 

Effective Date:                     ,
20    [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 

 

	5	List each Assignor, as appropriate. 

	6	List each Assignee, as appropriate. 

	7	Fill in the appropriate terminology for the types of facilities under the Credit Agreement that are being assigned under this Assignment (e.g. “Revolving Credit Commitment”, “Term Commitment”, etc.).

	8	Amounts in this column and in the column immediately to the right to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

	9	The assignment to each Assignee of a Commitment or Loans owing to an Assignor by the Designated Borrower under any Facility must be in a minimum amount equivalent to Euro 100,000 or any other amount that becomes
applicable at any time per Wijzigingsbesluit financiele markten 2012. 

	10	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	11	To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR:
	
	[NAME OF ASSIGNOR]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	ASSIGNEE:
	
	[NAME OF ASSIGNEE]
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	[Consented to and]12 Accepted:
	
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	[Consented to:]13

  

	12	To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

	13	To be added only if the consent of the Company, L/C Issuer and/or Swing Line Lender is required by the terms of the Credit Agreement. 

			
	[                    ]
		
	By:	 	  

	Name:	 	
		
	Title:	 	

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1. Assignor. [The][Each] Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of [the][[the relevant] Assigned Interest, (ii) [the][such] Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary,
to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or
representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder,
(iii) the financial condition of the Company, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Company, any of its Subsidiaries or Affiliates
or any other Person of any of their respective obligations under any Loan Document. 
 1.2. Assignee. [The][Each] Assignee (a) represents and
warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit
Agreement, (ii) it meets all the requirements to be an assignee under Section 11.06(b)(iii) and (v) of the Credit Agreement (subject to such consents, if any, as may be required under Section 11.06(b)(iii) of
the Credit Agreement), (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of [the][the relevant] Assigned Interest, shall have the obligations of a
Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by [the][such] Assigned Interest and either it, or the Person exercising discretion in making its decision to acquire [the][such]
Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered
pursuant to Section 6.01(a) thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase [the][such]
Assigned Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter
into this Assignment and Assumption and to purchase [the][such] Assigned Interest, and (vii) as of the Effective Date, it is a Person that, through its Lending Offices, is capable of lending in the applicable Alternative Currencies under the
Credit Agreement to the relevant Borrowers without imposition of any additional Indemnified Taxes or Other Taxes, as the case may be, and (viii) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it
pursuant to the terms of the Credit Agreement, duly completed and 

 
executed by [the][such] Assignee; and (b) agrees that (i) it will, independently and without reliance upon the Administrative Agent, [the][any] Assignor or any other Lender, and based
on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective
Date, the Administrative Agent shall make all payments in respect of [the][each] Assigned Interest (including payments of principal, interest, fees and other amounts) to [the][the relevant] Assignor for amounts which have accrued to but excluding
the Effective Date and to [the][the relevant] Assignee for amounts which have accrued from and after the Effective Date. Notwithstanding the foregoing, the Administrative Agent shall make all payments of interest, fees or other amounts paid or
payable in kind from and after the Effective Date to [the][the relevant] Assignee. 
 3. General Provisions. This Assignment and
Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one
instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy or other electronic transmission (including, in .pdf format) shall be effective as delivery of a manually executed counterpart of this
Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York (without giving effect to any choice or conflict of law provision or rule that would cause the
application of the domestic substantive laws of any other state). 

 EXHIBIT F 

FORM OF SWING LINE LOAN NOTICE 

Date:                  , 201   

 

	To:	Bank of America, N.A., as Swing Line Lender 

 Bank of America, N.A., as Administrative Agent

 Ladies and Gentlemen: 
 Reference is made to that certain
Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among
PAREXEL INTERNATIONAL CORPORATION, a Massachusetts corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto
from time to time as Subsidiary Guarantors, the Lenders party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. All capitalized terms used in this Swing Line Loan Notice and not
otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 
 The Company requests a Swing Line Loan: 

 

	1.	On                                    
             (a Business Day). 

  

	2.	In the amount of $                     . 

The Swing Line Borrowing requested herein complies with the requirements of the provisos to the first sentence of Section 2.04(a) of the Credit
Agreement. 
 [Remainder of the page intentionally blank] 

 The Company hereby represents and warrants that the conditions specified in Sections 4.02(a) and
(b) of the Credit Agreement shall be satisfied on and as of the date of the applicable Credit Extension. 
  

			
	PAREXEL INTERNATIONAL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT G 

FORM OF DESIGNATED BORROWER 

REQUEST AND ASSUMPTION AGREEMENT 

Date:                  , 201   

 

	To:	Bank of America, N.A., as Administrative Agent 

 Ladies and Gentlemen: 

This Designated Borrower Request and Assumption Agreement is made and delivered pursuant to Section 2.16 of that certain Third Amended and
Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”), among PAREXEL
INTERNATIONAL CORPORATION, a Massachusetts corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to
time as Subsidiary Guarantors, the Lenders party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and reference is made thereto for full particulars of the matters described therein.
All capitalized terms used in this Designated Borrower Request and Assumption Agreement and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

Each of                     (the “Designated
Borrower”) and the Company hereby confirms, represents and warrants to the Administrative Agent and the Lenders that the Designated Borrower is a Subsidiary of the Company. 

The documents required to be delivered to the Administrative Agent under Section 2.16 of the Credit Agreement will be furnished to the
Administrative Agent in accordance with the requirements of the Credit Agreement. 
 Complete if the Designated Borrower is a Domestic
Subsidiary: The true and correct U.S. taxpayer identification number of the Designated Borrower is                     . 

Complete if the Designated Borrower is a Foreign Subsidiary: The true and correct unique identification number that has been issued to the
Designated Borrower by its jurisdiction of organization and the name of such jurisdiction are set forth below: 
  

			
	 Identification Number
	  	 Jurisdiction of Organization

		  	
		  	

 The parties hereto hereby confirm that with effect from the effective date of the Designated Borrower Notice for the
Designated Borrower, the Designated Borrower shall have obligations, duties and liabilities toward each of the other parties to the Credit Agreement identical to those which the Designated Borrower would have had if the Designated Borrower had been
an original party to the Credit Agreement as a Borrower. Effective as of the effective date of the Designated Borrower Notice for the Designated Borrower, the Designated Borrower confirms its acceptance of, and consents to, all representations and
warranties, covenants, and other terms and provisions of the Credit Agreement. 
 The parties hereto hereby request that the Designated Borrower be entitled
to receive Loans under the Credit Agreement, and understand, acknowledge and agree that neither the Designated Borrower nor the Company on its behalf shall have any right to request any Loans for its account unless and until the date five Business
Days (or such shorter period as may be agreed to by the Administrative Agent) after the effective date designated by the Administrative Agent in a Designated Borrower Notice delivered to the Company and the Lenders pursuant to
Section 2.16 of the Credit Agreement. 

 This Designated Borrower Request and Assumption Agreement shall constitute a Loan Document under the Credit
Agreement. 
 THIS DESIGNATED BORROWER REQUEST AND ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF
THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ANY CHOICE OR CONFLICT OF LAW PROVISION OR RULE THAT WOULD CAUSE THE APPLICATION OF THE DOMESTIC SUBSTANTIVE LAWS OF ANY OTHER STATE). 

[Remainder of the page intentionally blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this Designated Borrower Request and Assumption
Agreement to be duly executed and delivered by their proper and duly authorized officers as of the day and year first above written. 
  

			
	[DESIGNATED BORROWER]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	PAREXEL INTERNATIONAL CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT H 

FORM OF DESIGNATED BORROWER NOTICE 

Date:                  , 201   

 

	To:	PAREXEL International Corporation 

 The Lenders party to the Credit Agreement referred to below

 Ladies and Gentlemen: 
 This Designated Borrower
Notice is made and delivered pursuant to Section 2.16 of that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated, extended, supplemented or otherwise modified
in writing from time to time, the “Credit Agreement”), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time
as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer,
and reference is made thereto for full particulars of the matters described therein. All capitalized terms used in this Designated Borrower Notice and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.

 The Administrative Agent hereby notifies Company and the Lenders that
                     shall be a Designated Borrower effective as of             
    , 201   and may receive Loans for its account on the terms and conditions set forth in the Credit Agreement. 
 This
Designated Borrower Notice shall constitute a Loan Document under the Credit Agreement. 
 [Remainder of the page intentionally blank]

 This Designated Borrower Notice is executed as of the date first set forth above. 

 

			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

 EXHIBIT I-1 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated,
extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts
corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders
party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 
 Pursuant to the provisions of
Section 3.01(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this
certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a
controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the
Administrative Agent and the Company with a certificate of its non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Company and the Administrative Agent with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

[Remainder of the page intentionally blank] 

 This U.S. Tax Compliance Certificate is executed as of the date set forth below. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 DATE:                  , 201   

 EXHIBIT I-2 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated,
extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts
corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders
party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 
 Pursuant to the provisions of
Section 3.01(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank
within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related
to the Company as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with a certificate of its
non-U.S. Person status on IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such
Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in
either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall
have the meanings given to them in the Credit Agreement. 
 [Remainder of the page intentionally blank] 

 This U.S. Tax Compliance Certificate is executed as of the date set forth below. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 DATE:                  , 201   

 EXHIBIT I -3 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated,
extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts
corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders
party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 
 Pursuant to the provisions of
Section 3.01(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect
partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement
entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Company within the meaning of
Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that
is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, from each of such
partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall
promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and
used herein shall have the meanings given to them in the Credit Agreement. 
 [Remainder of the page intentionally blank] 

 This U.S. Tax Compliance Certificate is executed as of the date set forth below. 

 

			
	[NAME OF PARTICIPANT]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 DATE:                  , 201   

 EXHIBIT I-4 

FORM OF 
 U.S. TAX
COMPLIANCE CERTIFICATE 
 (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is made to that certain Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated,
extended, supplemented or otherwise modified in writing from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts
corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the Company party thereto from time to time as Subsidiary Guarantors, the Lenders
party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. 
 Pursuant to the provisions of
Section 3.01(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate,
(ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan
Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A)
of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Company within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a
controlled foreign corporation related to the Company as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the
Administrative Agent and the Company with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable,
or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or IRS Form W-8BEN-E, as applicable, from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate,
the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Company and the Administrative Agent, and (2) the undersigned shall have at all times furnished the
Company and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments.

 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 [Remainder of the page intentionally blank] 

 This U.S. Tax Compliance Certificate is executed as of the date set forth below. 

 

			
	[NAME OF LENDER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 DATE:                  , 201   

 EXHIBIT J 

FORM OF NOTICE OF LOAN PREPAYMENT 
  

	TO:	Bank of America, N.A., as [Administrative Agent][Swingline Lender] 

	RE:	Third Amended and Restated Credit Agreement, dated as of March 11, 2016 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the “Credit
Agreement”), among PAREXEL INTERNATIONAL CORPORATION, a Massachusetts corporation (the “Company”), certain Subsidiaries of the Company party thereto from time to time as Designated Borrowers, certain Subsidiaries of the
Company party thereto from time to time as Subsidiary Guarantors, the Lenders party thereto from time to time, and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer. All capitalized terms used in this Notice of Loan
Prepayment and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement. 

 DATE:
                 , 201   
 The [Company][undersigned Designated
Borrower] hereby notifies the Administrative Agent that on                  , 201   pursuant to the terms of Section 2.05 (Prepayments) of the
Credit Agreement, such Borrower intends to prepay the following Loans as more specifically set forth below: 
  

	 ̈	Optional prepayment of [Revolving Credit Loans][Term Loans] in the following amount(s): 

  

	 	 ̈	Eurocurrency Rate Loans:                      

      Applicable Currency:              

      Applicable Interest Period:
                 
  

	 	 ̈	Base Rate Loans: $             

  

	 ̈	Optional prepayment of Swingline Loans in the following amount: $             

Delivery of an executed counterpart of a signature page of this notice by fax transmission or other electronic mail transmission (e.g.
“pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this notice. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 

 
			
	[APPLICABLE BORROWER]
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 PAREXEL – Third
A&R Credit AgreementExhibit

Exhibit 10.21

Lease agreement
This is a LEASE between LANDLORD and TENANT dated effective as of the Contract Date described below and it WITNESSES that LANDLORD demises to TENANT, and TENANT leases from LANDLORD, the below described Premises for the term, at the rent, and upon the other conditions contained in this Lease.  The Lease consists of this SUMMARY PAGE, the attached STANDARD PROVISIONS, a SCHEDULE OF DEFINED TERMS, and any other Attachments expressly identified on this Summary.
SUMMARY PAGE
	
		
	Contract Date: August 19, 2011
LANDLORD: JLM & ASSOCIATES, LLC
A South Carolina Limited Liability
 Company J.L.  Mitchell, Manager and 
Sole Member
Term off this Lease: 5 Yrs.  0 Mos.
Commencement Date: October 1, 2011
Expiration Date: September 30, 2016
Rental Payment Mailing Address: 
JLM & Associates, LLC
1047 Keys Drive
Greenville, South Carolina 29615
Initial Monthly Rent - Computation 
Basic Rent Months 1-60                               $8,158.58
Additional Rent:                                          $1,439.75
Total Monthly Payment:                            $9,598.33
Security Deposit:      Intentionally Waived
Security Deposit Date:
Insurance Limits (liability):
Death/Injury:                                              $1,000,000
Property:                                                    $3,000,000
Excess:                                                        $5,000,000
	TENANT: D3 TECHNOLOGIES, INC
a California Corporation
Property: An office building plus adjacent parking, and other service areas commonly known as JLM & Associates, LLC and legally described in Exhibit "A".
Premises: Commonly known & numbered as 1045 Keys Drive, Greenville, South Carolina 29615, and further described in Exhibit "A".
Permitted Use:                 Office
Premises Leasable Square Footage:    11,518
Property Leasable Square Footage:    35,333
TENANT'S Share:                32.60 %
Attachments are the following, if checked:
X     Property Legal & Premises Description
(Exhibit "A")
X     Rules and Regulations (Exhibit "B")
X     Layout of Premises (Exhibit "C")
X     Finish Rider (Exhibit "D")
X     Special Provisions (Exhibit "E")
X    Guaranty (Exhibit "F")

SIGNED AS A BINDING CONTRACT:    
For the LANDLORD                For the TENANT
JLM & Associates, LLC                D3 Technologies, Inc.
By:                            By:                         
J.  L.  Mitchell                    Name:  Richard L.  Johnson 
                                                                                    Title:    President, D3 Technologies

STANDARD PROVISIONS
PART A. PROPERTY AND POSSESSION

1.Premises.  The Premises will be finished, renovated, or redecorated by LANDLORD only if a “Finish Rider” (Exhibit D) is attached and only as stated expressly in such attachment.  Any dimensions on any attached layout are approximate unless labeled “exact.” If there is no Finish Rider attached, the Premises are demised “as is,” confirming TENANT inspected the Premises and the Property, and determined, to TENANT’S satisfaction, that the Premises and the Property are free of any defects, obvious or hidden, and suitable for TENANT’S occupancy for the Permitted Use.  The “leasable square footages” identified in this Lease are used only to determine TENANT’S Share (as hereinafter defined) of the Property’s operating expenses, not the actual dimensions of the Premises or the Property.
2.Common Areas.  This demise includes a non-exclusive license to use, in common with other tenants of the Property and other persons authorized by LANDLORD, all of the Property’s common areas, as they from time to time exist, for their respective intended purposes during the term of this Lease.  Exclusive use rights for any common areas are separately negotiated and must be set forth in any “Special Provisions” attached.  LANDLORD may grant such exclusive use rights to other tenants of the Property, and also may establish such easements, restrictions, and other encumbrances upon the common areas as LANDLORD considers appropriate, so long as the common areas, taken as a whole and in LANDLORD’S reasonable determination, are sufficient for their intended purposes as to TENANT.
3.Preparation.  If the Premises are not occupied by any existing TENANT, TENANT has a right of entry to the Premises before the Commencement Date to prepare them for TENANT’S occupancy, at TENANT’S risk, so long as (i) LANDLORD is notified in advance of each entry, and, if applicable, (ii) no such entry will delay or otherwise interfere with LANDLORD’S preparing the Premises for TENANT’S occupancy.  TENANT’S entry into the Premises prior to the Commencement Date shall be subject to all of the terms and conditions of the Lease, except for the payment of Basic Rent or Additional Rent.
4.Delay.  If LANDLORD cannot deliver possession by the stated Commencement Date for any reason not caused by TENANT, the Commencement Date will be extended for a reasonable time to permit LANDLORD to deliver possession as required by this Lease, so long as LANDLORD proceeds in good faith and with reasonable diligence.  Illustrative reasons for delay include, without limitation, the failure of any existing TENANT to surrender the Premises as required by such TENANT’S lease, unavailability of materials, labor activities, adverse weather, and acts of any sovereign, including inspection delays.  The Expiration Date will be extended by a like amount of any extension of the Commencement Date.  Notwithstanding the foregoing, in the event that LANDLORD has failed to deliver the Premises to TENANT within sixty (60) days of the stated Commencement Date on the Summary Page for reasons other than those caused by TENANT, TENANT shall have the right to terminate this Lease immediately upon written notice to LANDLORD and neither party shall have any further liability hereunder.
5.Remedies.  Except as otherwise set forth above, TENANT’S exclusive remedy for any reasonable delay is to abate any rent for the period of delay.  TENANT has no right of abatement or termination for any delays caused by TENANT.
6.Commencement.  Unless the Commencement Date is extended as provided in Paragraph A.4 above, it is the earlier of: (i) the stated Commencement Date on the Summary Page, or (ii) the date TENANT opens for business on or from the Premises.  If extended, then the Commencement Date is the earliest date on which any of the following occurs: (i) LANDLORD tenders possession as required by this Lease, or (ii) TENANT opens for business on or from the Premises, or (iii) if a certificate of occupancy is required for TENANT’S possession because of any finish or renovation required to be performed by LANDLORD, satisfactory final inspection of such work by the applicable sovereign.
7.Acceptance.  TENANT’S taking possession of the Premises is (i) an acceptance of the Premises and the Property for all purposes, and (ii) an acknowledgment that the Premises are free of any 

defects, obvious or hidden, and suitable for TENANT’S occupancy for the Permitted Use, subject only to any punch list items mutually agreed to in writing by LANDLORD and TENANT on or before the Commencement Date.  Provided the Premises are free of any material defects and LANDLORD has completed all improvements in the Premises pursuant to the terms of the Finish Rider, TENANT’S failure or refusal to accept possession on the Commencement Date is an Event of Default (as herein defined) and the Commencement Date shall be deemed to have occurred as of the date of such refusal.
8.Term.  The term of this Lease begins on the Commencement Date and ends at midnight on the Expiration Date, unless sooner terminated as provided in this Lease.  As used in this Lease, the “term of this Lease” or “term of this demise” shall each mean the period from the Commencement Date to the Expiration Date, or any earlier termination date.  TENANT upon demand will execute and deliver to LANDLORD, and any other party directed by LANDLORD, a written certificate confirming the Commencement Date, TENANT’S acceptance of the Premises, and any other information reasonably requested by LANDLORD.  If TENANT fails to do so, LANDLORD’S certification to TENANT of the Commencement Date and TENANT’S acceptance will be conclusive.
9.Compliance.  Suitability of the Premises for the Permitted Use, and conformity of the Permitted Use to all zoning and other legal requirements, at all times is TENANT’S responsibility.  If, because of any legal requirement, the Permitted Use requires any renovations or alteration to the Property that LANDLORD is not required to make under this Lease, or will violate any zoning or other legal requirements conforming status applicable to the Property, LANDLORD may elect to terminate this Lease before the Commencement Date, any Security Deposit received by LANDLORD will be returned to TENANT without interest, and all rights and liabilities arising under this Lease will then terminate.  After the Commencement Date, TENANT will not make, permit, or suffer any use, activity, alteration, or improvement of or to the Premises, or on or about the Property, that, under any governmental requirement, will require any renovations, alterations, or improvements by LANDLORD to any of the Property, or violate any zoning or other legal requirement applicable to the Property or its use.  Without limiting the foregoing, such Permitted Use shall exclude any use that would cause the Premises or the Property to be deemed a “place of public accommodation” under the Americans with Disabilities Act.
10.Use.  TENANT will use the Premises only for the Permitted Use.  No outside sales or storage (including vehicle storage) is or are permitted.  TENANT will comply with, and will not violate, any legal requirement applicable to TENANT’S use of the Premises.  TENANT will not make, permit, or suffer any use, activity, or condition on or about the Premises or the Property that (i) is a hazard, unreasonable disturbance, or nuisance to any person, including any other TENANT of the Property, or (ii) results in any unreasonable emissions of smoke, fumes, noise, radioactivity, microwaves, or other toxic materials.  TENANT will not permit the Premises or the Property to be used for any illegal activity.
11.Quiet Enjoyment.  So long as no Event of Default occurs and is continuing, LANDLORD warrants that TENANT throughout the term of this Lease will have exclusive possession of the Premises, without any unreasonable interference by LANDLORD, or any persons claiming by, through, or under LANDLORD, including any mortgagee of LANDLORD’S interest in the Property.
12.Surrender.  Upon the expiration or any earlier termination of this Lease, TENANT will surrender the Premises peaceably to LANDLORD in a sound, safe, sanitary, serviceable, reasonably attractive, and “broom clean” condition, and otherwise in substantially the same condition as received, subject only to (i) the effects of any casualty that TENANT is not required to restore by this Lease, (ii) any installations complying with the requirements of this document, and (iii) deterioration from reasonable use.  Except for any termination permitted under this Lease because of casualty, TENANT’S failure to surrender the Premises as required by this paragraph is an immediate Event of Default.
13.Hazardous Materials.
(a)TENANT, its subtenants, agents, employees, contractors, or invitees, shall not place, use or dispose of any Hazardous Substance (as hereinafter defined) on, under, in or about the Property, including the Premises, in violation of Applicable Environmental Laws (as hereinafter defined), or 

in excess of commercial quantities for similar uses in similar premises.  TENANT shall indemnify, defend, protect and hold LANDLORD harmless from any and against all actions, fines, penalties, costs (including reasonable attorneys’ fees and costs through all proceedings, trials, appeals and collection proceedings) or losses due to claims, actions, investigations, remediations, cleanup actions, monitoring or other matters involving the use of the Property, including the Premises, by TENANT or any of its subtenants, agents, employees, contractors, or invitees.  In the event LANDLORD exercises its rights under this paragraph of the Lease, LANDLORD shall promptly deliver to TENANT notice of such exercise, together with all information and written material available to LANDLORD relating to such claim.  LANDLORD shall, if notified by TENANT of TENANT’S election to do so within fifteen (15) days of the date of such notice of a claim, permit TENANT to defend in the name of LANDLORD any claim in any appropriate administrative or judicial proceedings and take whatever actions may be reasonably requested of LANDLORD to permit TENANT to make such defense or take any necessary action, and all of the foregoing shall be done at TENANT’S sole cost and expense.  In the event TENANT defaults or refuses to perform its obligations hereunder, LANDLORD shall be entitled to take any necessary action to protect its interest hereunder in the interest of the Property, including, without limitation, conducting such defenses, settlements or compromises deemed appropriate, in LANDLORD’S sole and absolute discretion, and TENANT shall remain fully liable for the costs, including any fines, penalties and reasonable attorney’s fees and costs, relating to or in any way arising from any such loss, investigation, remediation, claim, defense or other action.
(b)LANDLORD and its agents shall have the right to inspect the Premises and the Property for the purposes of ascertaining TENANT’S compliance with its obligations under this paragraph.  In the event of an actual, or suspected spill, or mishandling of Hazardous Substances or suspected violation of Applicable Environmental Law, TENANT shall immediately inform LANDLORD in writing.  Such notice shall identify the Hazardous Substances involved, the emergency procedures taken, and all other material information.
(c)As used herein, the term “Hazardous Substances” shall mean any substance, material, mixture, petroleum, petroleum product, solution, waste, chemical or pollutant that is now or hereafter listed, defined, characterized or regulated as hazardous, toxic or dangerous under or pursuant to any statute, law, ordinance, rule or regulation of any federal, state, regional, county or local governmental authority having jurisdiction over the Premises or its use or operation, including, without limitation (a) any substance, material, or pollutant listed, defined, characterized or regulated as hazardous, toxic or dangerous under Applicable Environmental Law, (b) petroleum, petroleum derivatives, or by-products, and other hydrocarbons, (c) polychlorinated biphenyls (pcb’s), asbestos and urea formaldehyde, and (d) radioactive substances, materials or waste.
(d)As used herein, the term “Applicable Environmental Law” shall mean (a) the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C.  §§ 9601 et seq.  (“CERCLA”); (b) the Resource Conservation and Recovery Act, 42 U.S.C.  §§ 6901 et seq.(“RCRA:); (c) The Federal Water Pollution Control Act, 33 U.S.C.  §§ 1251 et seq.; (d) the Clean Air Act, 42 U.S.  C.  §§ 7401 et seq.; (e) the Hazardous Materials Transportation Act, 49 U.S.C.  §§ 1471 et seq.; (0 the Toxic Substances Control Act, 15 U.S.C.  §§ 2601 et seq.; (g) the Emergency Planning and Community Right-to-Know Act, 42 U.S.C.  §§ 11001 et seq.; (10 any amendments to the foregoing Acts as adopted from time to time; (i) any rule, regulation, order, injunction, judgment, declaration or decree implementing or interpreting any of the foregoing Acts, as amended; and (j) any other federal, state, and local statute, law, ordinance, rule, regulation, order or decree, regulating, relating to, interpreting or imposing liability or standards of conduct concerning any Hazardous Substances now or hereafter in effect.
(e)With respect to any such Hazardous Substances, TENANT shall:

		
	(1)
	Within five (5) days of LANDLORD’S request, submit written reports to LANDLORD regarding TENANT’S use, storage, treatment, transportation, generation, disposal or sale of Hazardous Substances and provide evidence satisfactory to LANDLORD of TENANT’S compliance with the Applicable Environmental Law; and

		
	(2)
	Comply with all Applicable Environmental Law.

(f)LANDLORD represents and warrants, to the best of its knowledge, that there has not been any release of Hazardous Substances nor has there been any storage, treatment, use, disposal, release or threatened release of any Hazardous Substance on the Premises prior to the term of Lease or any extension of it.    LANDLORD shall 
(g)indemnify, defend, protect and hold TENANT harmless from any and against all actions, fines, penalties, costs (including reasonable attorney’s fees and costs through all proceedings, trials, appeals and collection proceedings) or losses due to claims, actions, investigations, remediations, cleanup actions, monitoring or other matters involving the use of the Property, including the Premises, prior to the Commencement Date of this Lease.
PART A.MONETARY OBLIGATIONS
1.Basic Rent.  The Basic Rent is paid in monthly installments, in advance and without demand, deduction, or offset.  The first installment is due by the Commencement Date.  The next installments are due on the first day of each month after the Commencement Date throughout the term of this Lease.  If the Commencement Date, Expiration Date, or any earlier termination date does not fall on the first or last day of a calendar month, then the installment for each such month is prorated on a daily basis.
2.Additional Rent.  Under this Lease, “Additional Rent” shall mean any amounts, liabilities, or obligations, including without limitation, TENANT’S Share (as hereinafter defined), and any other costs and expenses payable by TENANT to LANDLORD under this Lease, except for Basic Rent and Liquidated Damages (as hereinafter defined).  The term “rent,” as used in this document, shall mean Basic Rent and Additional Rent, as all of TENANT’S obligations under this Lease are mutual and dependent covenants.    Without limitation, 
3.LANDLORD has the same rights and remedies with respect to TENANT’S Share of any Additional Rent as for the Basic Rent.  Any Additional Rent is prorated as of the Commencement Date and the Expiration Date, or any earlier termination date, unless this Lease expressly provides otherwise.
4.Option to Extend Term.  TENANT shall have the right and option to extend the term for two (2) additional periods of sixty (60) months each on the same terms and conditions as are set forth herein except that Basic Rent for any renewal term shall be an amount equal to ninety percent (90%) of the fair market rental value for similar Premises in the same geographic region as Premises.
5.Payment.  All payments to LANDLORD are deemed received only when collected in legal tender of the United States of America.  Any such payment not made by United States legal tender is received subject to collection.  If any such payment is not so collected, it is not “made,” “paid,” or “received” for any purpose, including accrual of any interest.  What commonly is called “immediately available funds” is equivalent to legal tender.  All rent is paid at LANDLORD’S address on the Summary Page or as hereinafter designated by LANDLORD in writing.
6.Default Interest.  Any payment to LANDLORD not received within fifteen (15) days after it is due bears interest, from its original due date through the date received by LANDLORD in legal tender, at the lesser of: (i) the annual rate of 10%, calculated on the basis of a 365-day year for the number of days actually outstanding, or (ii) the maximum annual rate permitted by any applicable usury law of the state where the Property is situated.  Any advances properly made, or costs or expenses properly paid, by LANDLORD after any Event of Default bear such interest from the respective dates of advance or payment, as the case may be.
7.Late Charge.  LANDLORD may impose a late charge, due on demand, of not more than five (5) percent of any installment of rent that is not received within seven (7) days after it is due.  Any such late 

charge is in lieu of interest on such installment as described above in Paragraph B.5, but it otherwise is in addition to, and does not waive, limit, or otherwise impair, any other right or remedy of LANDLORD.
8.Security Deposit.  Intentionally Waived
9.Application.  Intentionally Waived
10.Basic Rent Increase.  Intentionally Waived
11.Payment.  Intentionally Waived
12.TENANT’S Share.  TENANT will pay to LANDLORD TENANT’S Share of the total dollar amount of LANDLORD’S operating expenses for the Property, determined according to LANDLORD’S accounting practices and the terms of this Lease.  “TENANT’S Share” is determined by dividing the Premises Leasable Square Footage by the Property Leasable Square Footage and will be adjusted for any material change in such square footages resulting from any expansion, consolidation, or diminution of the Property Leasable Square Footage, whether caused by any casualty, taking, or other event.  The first payment under this paragraph is due on demand and payable along with the monthly Basic Rent.  Such payments are estimated, in advance, as provided below.  If any estimated amount is in effect on the Contract Date, it is set forth as the “Additional Rent” on the Summary Page of this Lease.
13.Operating Expenses:  Defined as follows:
(a)Included Expenses.  Means any costs and expenses incurred by LANDLORD for operating and maintaining the Property.  It includes (i) all real estate taxes, charges, assessments, fees and payments levied or assessed, at any time, on the Property during the term of this lease by any public, governmental, or regulatory body, including those payable under any recorded covenants affecting the Property; (ii) insurance premiums; (iii) repairs (excluding the cost of repairs for which LANDLORD is solely responsible pursuant to Paragraph D.1); (iv) building and landscape maintenance and lighting (including any project signs, parkways, and medians on, adjoining, or serving the Property); (v) reasonable management fees (regardless of whether paid to LANDLORD or an affiliate of LANDLORD); (vi) common utilities serving the Property not separately metered or otherwise charged to a particular TENANT; (vii) reasonable general advertising and promotional expenses for the Property, (viii) any restoration costs to the extent of commercially reasonable deductible amounts for the Property’s insurance; (ix) compensation for any consultants or other professionals employed to review or contest the Property’s taxes, insurance costs, or other operating expenses; and (x) taxes, fees, and other exactions imposed upon or with respect to any of the foregoing by any sovereign, including any gross receipts taxes to the extent not paid by the Property’s tenants and not in lieu of, or direct credit against, LANDLORD’S state and federal income taxes or property taxes.
(b)Excluded Expenses.  Excludes all of the following: (i) debt service and other payments with respect to any loan; (ii) LANDLORD’S state and federal income taxes; (iii) depreciation and other non-cash items; (iv) leasing commissions, architectural fees, and other direct expenses incurred to procure particular tenants for the Property, including improvements, equipment, fixtures, and other items installed to the requirements of a particular TENANT and any allowances or concessions provided to any TENANT; (v) any costs of any restoration that individually exceed commercially reasonable deductible amounts for the insurance coverage applicable to the Property; (vi) accounting fees and other professional services incurred by LANDLORD and costs of audits of any kind; (vii) renovations or other alterations required to conform the Property to any legal requirements or insurance requirements; (viii) costs incurred to make major repairs or replacements of any defective initial construction of the Property and related appurtenances regardless of how such costs are characterized under generally accepted accounting principles; (ix) legal expenses incurred in connection with the preparation or negotiation of leases, subleases, assignments or other lease-related documents with current, prior or prospective tenants or occupants of the Property; (x) marketing or advertising costs to solicit new tenants and the rental value or lost income to LANDLORD of any office space in the Property utilized for the leasing of the Property (as opposed to management of the 

Property); (xi) wages, salaries, fees, and fringe benefits paid to administrative or executive personnel or officers or partners of LANDLORD not having direct day to day responsibility for operating or providing services to the Property; (xii) cost of repairs or other work occasioned by fire, windstorm or other casualty of an insurable nature or by the exercise of eminent domain; (xiii) costs incurred for alterations, replacements or improvements that would be considered capital improvements under sound accounting and management principles consistently applied, except current amortization of the capital improvement cost over the reasonable useful life of the improvement where such capital improvement is reasonably necessary to improve the operation or maintenance efficiency of the Property; (xiv) amortization of capital improvements except as expressly provided above; (xv) expenses in connection with services or other benefits of a type which are not provided or available to TENANT but which are provided to another TENANT of the Property or to some other third party; (xvi) costs incurred due to violation by LANDLORD or any TENANT of the Property of the terms or conditions of any lease; (xvii) LANDLORD’S general overhead except as it directly relates to the management and operation of the Property; (xviii) all items and services for which any TENANT reimburses LANDLORD or pays third persons and any cost that LANDLORD is responsible for under the terms of the Lease; (xix) costs for sculptures, paintings or other objects of art; (xx) ground lease rental payments; (xx) costs incurred in connection with the removal or clean-up of Hazardous Substances from the Property unless such costs of clean-up is the fault of TENANT; (xxi) costs incurred in connection with negotiations or disputes with tenants of the Property; and (xxii) any costs, fines or penalties incurred due to actual or alleged violations by LANDLORD of any governmental rule or authority.
Any operating expenses incurred by LANDLORD with respect to the Property and other properties owned or managed by LANDLORD will be apportioned to the Property on a commercially reasonable basis, provided such expenses are not part of LANDLORD’S general overhead and relate directly to the management and operation of the Property.  Absent any other reasonable basis, such expenses will be apportioned in the ratio of the approximate leasable square footages contained in the respective properties.
14.Estimates.  Each calendar year, LANDLORD will estimate TENANT’S Share of the operating expenses, based upon actual and projected operating results from the Property.  If any amount is estimated to become due, LANDLORD will so notify TENANT.  The estimated amount will be payable monthly, in advance and without demand, together with the Basic Rent, beginning the first month after TENANT is given at least fifteen (15) days advance notice of the amount, and will continue until re-estimated under this paragraph.  Such estimated amounts will be reconciled with the actual operating expenses from the Property within ninety (90) days after the end of each calendar year.  Any excess in TENANT’S favor will be credited against the next ensuing payments or refunded to TENANT, at LANDLORD’S option.  Any excess in LANDLORD’S favor will be due within fifteen (15) days of TENANT’S receipt of an invoice from LANDLORD.  If the actual operating expenses from the Property materially exceed LANDLORD’S estimate during any fiscal quarter, then LANDLORD, upon not less than fifteen (15) days advance notice, may increase the monthly payments (i) to amortize the amount of the deficiency over the number of months then remaining in the fiscal quarter, and (ii) to cover any anticipated continuing increase.
15.Verification.  LANDLORD must maintain accurate and separate books and records to substantiate LANDLORD’S operating expenses for the Property, which must be available for inspection by TENANT upon reasonable advance notice.  TENANT may require an audit, at TENANT’S expense, of LANDLORD’S books and records for the Property to determine if any amounts paid by TENANT were based upon a material overstatement of the actual operating expenses for the Property.  Any variance determined by such audited results will be accounted between the parties, with any difference due either party paid within thirty (30) days after demand.  If TENANT’S Share of operating costs was overstated by more than ten percent (10%), LANDLORD shall pay to TENANT its reasonable costs and expenses incurred 

in connection with the audit, which costs and expenses shall not be recoverable in an amount greater than TENANT’S Share of said overstatement.  LANDLORD to provide sufficient details of operating expenses at year end to justify CAM costs.
16.Contesting Taxes.  LANDLORD agrees to use its reasonable and affirmative best efforts to contest any tax, fee or assessment wholly or partially paid or reimbursed by TENANT to the same extent as LANDLORD would contest the same if LANDLORD had paid the tax, fee or assessment itself without reimbursement.  LANDLORD shall reimburse TENANT for TENANT Proportionate Share of any and all amounts recovered by LANDLORD as a result of such contest.
17.Other.  TENANT will pay when due the following costs and expenses related to TENANT’S use of the Premises:
(a)Utilities.  Any electrical, telecommunications, natural gas, refuse collection, and other utilities furnished to the Premises,, which utilities are separately metered and invoiced directly to TENANT by the utility company
(b)Increase.  Any increase in taxes, insurance premiums, and other operating expenses for the Property that are attributable to any use, activity, or installation by TENANT within or with respect to the Premises.  Illustrative items include any property tax increase attributable to any leasehold improvements made by TENANT, insurance charges for any extra-hazardous use of the Premises made by TENANT, charges for common utilities resulting from abnormal consumption or use by TENANT, and increased maintenance costs for any of the Property’s common areas resulting from TENANT’S overuse.
(c)Damage.  Any costs of restoring any damage to the Property, including the Common Utility systems, caused by TENANT or any person subject to TENANT’S right of control or actual control.
(d)TENANT Taxes.  Any taxes assessed with respect to (i) any of TENANT’S personal property, tangible or intangible, including any of TENANT’S inventory and equipment; (ii) TENANT’S exercise of any taxable privilege on, from, or with respect to the Premises; (iii) occupational license, franchise, or other fees payable with respect to any activity conducted by TENANT on or from the Premises; and (iv) the rent, except LANDLORD’S state and federal income taxes.
(e)TENANT Work.  Any charges for labor, services, or materials performed, rendered, or delivered, as the case may be, pursuant to a contract with TENANT (express or implied, written or oral) for maintaining, restoring, or improving the Premises, or any item fabricated by TENANT on the Premises.
(f)Liens.  Any lien, or claim of lien, asserted against any interest in the Property by, through, under, or against TENANT.
(g)Violations.  Any fines or other penalties, and any charges or other costs, incurred by LANDLORD because of TENANT’S violation of any legal requirement, including (i) any building, safety, or other code violation; (ii) TENANT’S failure to maintain adequate workmen’s compensation or similar insurance required with respect to TENANT’S activities conducted on or from the Premises; and (iii) TENANT’S failure to comply with any zoning or other legal requirement applicable to TENANT’S use of the Premises, including the Permitted Use.  TENANT’S liability under this subparagraph includes both the costs of correcting any violation of any legal requirement and any costs incurred by LANDLORD in defending, compromising, or discharging any enforcement proceeding instituted against LANDLORD or the Property, or both, because of any such violation.
Any payments to LANDLORD under this Paragraph B.16 are due and payable within Thirty (30) days of TENANT’S receipt of an invoice from LANDLORD accompanied by evidence that the expense was incurred.

18.Brokerage Commissions.  LANDLORD and TENANT each represents and warrants to the other that there are no brokers, finder’s fees or any real estate commissions due to any broker, agent or other party in connection with the negotiation or execution of this Lease or on behalf of either of them, except for commissions owed to CBRichard Ellis The Furman Co.  (the “Broker”) by LANDLORD.  LANDLORD and TENANT hereby agree to indemnify and hold the other harmless from and against any and all costs, expenses, liabilities, causes of action, claims or suits by any party for compensation, commissions, fees or other sums claimed to be due or owing with respect to the representation of LANDLORD or TENANT as applicable, in effecting this Lease other than for commissions to be paid by LANDLORD to the Broker.
PART B.INSTALLATIONS
1.Fixtures.  TENANT may install within the interior of the Premises such fixtures, equipment, and other personal property as are reasonably necessary, convenient, or desirable for conducting TENANT’S normal business operations, so long as each such installation complies with all express requirements of this Part C and LANDLORD is notified and approves in advance of any installation that will be attached to the Property.  So long as no Event of Default is continuing, TENANT may remove any of TENANT’S property from the Premises.  TENANT will remove all such property, and restore any resulting damage to the Property, upon the expiration or any earlier termination of this Lease.  TENANT’S failure to remove such property and restore the Property upon the expiration or earlier termination of the Lease is an immediate Event of Default.  Any of TENANT’S property remaining on the Premises at any such expiration or earlier termination will become LANDLORD’S property, at LANDLORD’S option; or LANDLORD may elect to remove any such property, and restore any resulting damage to the Property, at TENANT’S expense.
2.Alterations.  TENANT may not install any interior alterations or improvements to the Premises without LANDLORD’S advance written consent, which will not be unreasonably withheld or delayed so long as (i) the fair rental value of the Property will not be materially diminished; (ii) LANDLORD’S operating expenses for the Property will not be increased; (iii) TENANT agrees to remove such installation and restore the Property upon the expiration or any earlier termination of this Lease, if requested by LANDLORD prior to the alteration or installation of the improvement; (iv) TENANT furnishes such plans, specifications, and samples as LANDLORD reasonably may require; and (v) TENANT otherwise complies with all applicable requirements of this Part C.  Any such installation is a leasehold improvement, to become LANDLORD’S property upon the expiration or any earlier termination of this Lease, unless LANDLORD elects otherwise prior to the alteration or installation of the improvement.  Any exterior or structural alterations are prohibited, as are any alterations to any demising wall.
3.TENANT Work.  Any fixture, alteration, or other installation made by TENANT within or affecting the Premises, including any sign or display, must be completed with reasonable diligence and in a workmanlike manner, consistent with accepted industry practices, any applicable legal requirements and insurance requirements, and such standards as LANDLORD may from time to time establish for the Property.  No such installation may affect adversely the structural integrity of the Property, the usefulness of any of its utility, mechanical, and other systems, or the usefulness of any demising wall.  TENANT must protect the Property from damage by water, vandalism, and other casualty resulting from, or occurring during the course of, any such installation.  LANDLORD summarily may remove any installation begun or made in violation of the express requirements of this Lease, without waiving, limiting or otherwise impairing any other right or remedy.
4.Conditions.  As a condition precedent to any installation by TENANT, TENANT shall furnish proof of adequate insurance coverage, protecting the Property, LANDLORD, and the installation, and adequate security for any of the following: (i) restoring any damage to the Property resulting from such installation; (ii) payment of any claims for labor, services, or materials furnished, rendered, or delivered in connection with such installation; (iii) completing such installation in compliance any applicable legal requirements, insurance requirements, and any plans and specifications approved by LANDLORD; and (iv) if applicable, removing such installation, and restoring the Property, upon the expiration or any earlier 

termination of this Lease.  TENANT’S failure to furnish proof of such insurance shall in no way relieve TENANT of such insurance obligations.
5.Signs.  Any sign or display visible from the exterior of the Property must be approved by LANDLORD in advance, which approval will be given only if and so long as any such sign or display strictly conforms to LANDLORD’S signage plan for the Property.  TENANT will be permitted one identification sign on the front building fascia above TENANT’S entranceway, if it complies with such plan; but any other signage rights for the Property are separately negotiated and must be set forth in any “Special Provisions” attached.
PART C.REPAIR AND RESTORATION
1.LANDLORD’S Obligations.  LANDLORD, at its sole expense, shall make all necessary repairs to the footings, foundation, structural steel columns-, exterior walls and girders forming a part of the Premises, provided that LANDLORD shall not have responsibility to make any repair until LANDLORD receives written notice of the need for such repair and LANDLORD confirms such repair is necessary.  LANDLORD represents and warrants that the Property contains no structural defects and requires no major repairs or replacements, all building systems are in good working order at the time of TENANT’S occupancy, and the Property is served by all utilities necessary for the operation thereof as typical office space of similar type and kind.  -Additionally, TENANT’S liability to repair the HVAC systems shall be limited to no more than One Thousand Five Hundred ($1,500.00) Dollars annually for the term of the lease.  Should an HVAC unit require replacement during the term of the lease, LANDLORD shall replace the unit at its sole expense as a capital expense for the Property.  Subject to the limitations set forth in this Section D.1, LANDLORD, at TENANT’S sole expense, shall maintain and repair the HVAC systems appurtenant to the Premises.  LANDLORD also maintains the Property’s Common Utility systems, and, other systems that do not serve the Premises exclusively, and makes all necessary repairs to the roof, grounds, and common areas, the costs of which are an operating expense, payable by the TENANT in its TENANT’S Share.  “Walls” excludes windows, glass, plate glass, doors, custom storefronts, and entry areas.  Unless this Lease is terminated due to any casualty or taking, LANDLORD, as and when necessary, (i) restores the Property’s roof, foundation, exterior walls, common systems, and common areas, and (ii) restores any improvements, equipment, and installations within or serving the Premises, except those installed by TENANT or by LANDLORD for TENANT’S account.  Notwithstanding the foregoing, LANDLORD is not obligated to restore any damage caused by TENANT.     Reasonable advance written notice is an absolute condition precedent to 
2.LANDLORD’S duty to maintain, repair or restore.  LANDLORD’S liability for any unjustified failure to maintain, repair or restore the Premises or the Property, as required by this paragraph, is limited to the costs of performing such maintenance, reparation or restoration, as LANDLORD is not liable for any consequential loss or damage.
(a)TENANT’S Right to Self-Cure:  TENANT reserves the right to contract for repair work not performed or scheduled by LANDLORD within three (3) business days of defect or repair notification to LANDLORD in writing.  Should LANDLORD fail to pay the invoice, TENANT may pay the invoice and abate the payment amount on subsequent rent payment(s) until the payment amount has been satisfied.
3.TENANT’S Obligations.  Except for work that expressly is LANDLORD’S responsibility under the previous paragraph, TENANT (i) maintains the Premises, including any leasehold improvements, fixtures, equipment, and other installations, in a safe, sound serviceable, and reasonably attractive condition, and (ii) restores the Premises and any leasehold improvements, fixtures, equipment, and other installations, as and when necessary.  Unless this Lease is terminated because of any casualty or taking, as expressly provided in this Lease, TENANT promptly will undertake any required maintenance or restoration and pursue it diligently and continuously to completion.  The conditions applicable to TENANT’S installations apply to any such work that requires any substantial construction activities on or about the Premises.  TENANT’S maintenance and restoration include:

(a)Interior.  Floor coverings, wall coverings (including painted surfaces), finished ceilings, and termite & pest extermination.
(b)Systems.  All plumbing, electrical, and mechanical equipment, fixtures, and systems serving the Premises exclusively, including any exterior lighting serving the Premises exclusively.
(c)Damage.  Restoring any damage to the Property caused by TENANT, or any person subject to TENANT’S right of control or actual control, or resulting from TENANT’S occupancy.
(d)Entries.  Windows, glass, plate glass, doors, custom storefronts, and entries, including any loading doors and related equipment, fixtures, and appurtenances, such as dock boards and bumpers.
(e)Debris.  Removal from the Property of trash, debris, and materials accumulated in connection with any activity of TENANT on or about the Premises.
4.Casualty.  If the property or premises should be substantially destroyed by fire or other casualty, LANDLORD or TENANT may, at their option, terminate this Lease by giving written notice thereof within thirty (30) days of such casualty.  In such event, the Rent shall be apportioned to and shall cease as of the date of such casualty.  If LANDLORD or TENANT does not exercise this option, then the Property shall be reconstructed and restored by LANDLORD, at LANDLORD’S expense, to substantially the same condition as prior to the casualty, and in the event TENANT’S business is substantially interrupted, Rent shall abate as set forth in Paragraph D.5 below.
5.Restoration.  Provided neither party has terminated the lease in accordance with paragraph D.3, LANDLORD will have a reasonable time not exceeding Two Hundred Ten (210) days from the date of the casualty to complete any restoration required or elected by LANDLORD, so long as LANDLORD undertakes it promptly and pursues it diligently and continuously to completion.  If the Premises are not restored within Two Hundred Ten (210) days after the occurrence, TENANT, to the exclusion of any other rights or remedies, may elect to terminate this Lease without further liability.  The foregoing time period will be extended for any delays resulting from any circumstances beyond LANDLORD’S control, but not exceeding a total of Sixty (60) days in any event.
6.Abatement.  If, because of any casualty, TENANT’S normal business activities cannot be conducted within or from the Premises in substantially the same fashion as conducted immediately before the occurrence, then the rent will abate during the period of restoration in a fair and equitable manner, proportionate with the degree of interference with TENANT’S normal business operations, as conducted immediately before the occurrence.
7.Taking.  If, as a result of any taking, the Premises no longer can be used for TENANT’S normal business operations, as conducted immediately before the taking, and TENANT so certifies in good faith to LANDLORD, then TENANT may elect to terminate this Lease and surrender possession as otherwise required by this Lease, without further liability, and effective as of the date of the taking, or TENANT’S surrender of possession, whichever is later.  LANDLORD also may terminate this Lease if, as a result of any taking, LANDLORD determines that the continued operation of the Property is not economically feasible and so certifies to TENANT in good faith.  In all other events, this Lease will continue notwithstanding any taking.
8.Proceeds.  TENANT has no claim, right, title, or interest in or to any proceeds of any physical damage, business interruption, or rental loss insurance maintained by LANDLORD with respect to the Property.  TENANT has no right or remedy with respect to any proceeds payable in connection with any taking affecting the Property, except TENANT may recover any items of consequential damage, such as business interruption and relocation expense, that may be awarded separately from, and which do not reduce, the award to LANDLORD for the Property.
PART D.GENERAL COVENANTS
1.Services.  TENANT will obtain, pay for, and indemnify LANDLORD with respect to any electrical, natural gas, climate control, janitorial refuse collection, security, telecommunications, and other services required for the Premises.  LANDLORD furnishes only the common utilities.  LANDLORD is not 

responsible for any unintentional interruption of any services, provided such interruption is not the result of LANDLORD’S gross negligence, willful misconduct or breach of this Lease.  LANDLORD may interrupt such services as required for repairs, inspections, construction activities, and other legitimate business purposes, provided that LANDLORD shall take all reasonable steps to avoid interfering with the operation of TENANT’S business in the Premises.  LANDLORD does not contemplate furnishing manned or other special security systems for the Property.  TENANT solely is responsible for any security systems required by the nature of TENANT’S business and will indemnify LANDLORD against any claims because of any failure to furnish such systems.  LANDLORD shall maintain its existing exterior lighting and lighting schedule of dusk to 10:00 PM and 5:00AM to dawn, but shall not be required to furnish any additional exterior illumination, nor shall it be required to extend the hours of illumination.
2.Regulations.  LANDLORD from time to time may establish, change, and enforce uniform, commercially reasonable rules and regulations with respect to the Property and any activities conducted on or about the Property.  Without limitation, LANDLORD may regulate the time and place of deliveries to and from the Property, the use of the Property’s parking and other common areas, and such other matters as LANDLORD determines are necessary, convenient, or desirable to maintain the Property as a first class facility.  TENANT will comply with all rules and regulations within ten (10) days after notice, unless LANDLORD permits a longer time in which to achieve compliance.  TENANT’S willful failure to comply after the relevant notice and cure period shall be an immediate Event of Default.  Notwithstanding the foregoing, LANDLORD shall not discriminate against TENANT in the enforcement of any rules and regulations.
3.Entry.  LANDLORD has a reasonable right of entry to the Premises for any lawful purpose, including inspections, maintenance, restoration, and removal of any installation made in violation of the express requirements of this Lease, provided that LANDLORD provides TENANT with twenty-four (24) hours advance notice and takes all reasonable steps necessary to minimize disruption with the operation of TENANT’S business in the Premises.  LANDLORD may enter the Premises during normal business hours for construction activities relating to maintenance, restoration, and renovation of the Property.  LANDLORD also may so enter to exhibit the Premises to actual or prospective purchasers, mortgagees, and tenants.  LANDLORD has retained duplicate passkeys to the Premises.  TENANT may change the lock to the Premises, so long as (i) the changed locks are at least as secure as the originals, and (ii) LANDLORD immediately is furnished duplicate passkeys to the new or additional locks.  “Lock” and “passkey” are to be interpreted in the broadest sense to include, respectively, any installation, device, or system that secures the Premises against unauthorized entry, and the means for opening, accessing, or defeating each such installation, device, or system, as the case may be.
4.Subordination.  TENANT’S interest in the Property is and at all times will remain subject, subordinate, and inferior to the lien and other security of any mortgages encumbering LANDLORD’S interest in the Property now or in the future.  _Within ten (10) days after demand, TENANT will execute & deliver such assurances of the subordination as the holder of any such mortgage may require, provided that the holder of any such mortgage shall have agreed in writing, and shall be bound thereby, to honor all of TENANT’S rights under this Lease, including, without limitation, TENANT’S rights of quiet and exclusive use and enjoyment of the Premises.
5.Indemnity.  LANDLORD is not liable for any damage, injury, or death of or to any person or property unless caused by the gross negligence or willful misconduct of LANDLORD.  TENANT will indemnify and hold LANDLORD harmless from and against:
(a)Injury.  Any injury or damage to, or the death or destruction of, any person or property arising from or in connection with TENANT’S possession, use, installation, maintenance, restoration, alteration, or improvement of the Premises, or any activity conducted, or condition created, upon or from the Property by TENANT during the term of this Lease.
(b)Violations.  Any violation by TENANT of any provision of this Lease, any legal requirement, or any insurance requirement during the term of this Lease.

(c)Contests.  Any claim, proceeding, or contest by TENANT in connection with any insurance proceeds or settlement, or any award for taking.
TENANT will defend any action, suit or proceeding brought against LANDLORD or the Property because of any such occurrence by counsel reasonably acceptable to LANDLORD.  TENANT’S obligations under this paragraph survive the expiration or any earlier termination of this Lease as to claims based upon any occurrence, or condition created by TENANT before the termination date.  Nothing in this Lease requires TENANT to indemnify LANDLORD with respect to any willful or intentional acts of LANDLORD, or of LANDLORD’S agents, employees, or contractors.  As used in this paragraph, “TENANT” includes persons acting for or on behalf of TENANT, its subtenants, agents, employees, contractors, and invitees.
LANDLORD will indemnify and hold TENANT harmless from and against any injury or damage to, or the death or destruction of, any person or property arising from or in connection with (i) LANDLORD’S installation, maintenance, restoration, alteration, improvement of the Premises, or any activity conducted, or condition created, upon or from the Property by LANDLORD during the term of this Lease; (ii) any violation by LANDLORD of any provision of this Lease, any legal requirement, or any insurance requirement during the term of this Lease.  As used in this paragraph, “LANDLORD” includes persons acting for or on behalf of LANDLORD, its agents, employees, contractors, and invitees.
6.Liens Generally.  TENANT will not create, or permit to be created or to remain, and will discharge or bond against, any lien, encumbrance, or adverse claim to or against the Property, LANDLORD, or the rent that arises, or is asserted to arise, by, through, under, or against TENANT.  Without limitation, TENANT will transfer any such lien, encumbrance, or claim to substitute security in the manner permitted by applicable law upon demand.  If TENANT fails to make ally such transfer, LANDLORD, without waiving, limiting, or otherwise impairing any other right or remedy, may make it at TENANT’S expense.
7.Mechanic’s Liens.  Any lien for any labor, services, or materials performed, rendered, or delivered to the Property pursuant to a contract with TENANT, or any person other than LANDLORD, is limited to the interest in the Property, if any, of the person contracting for such labor, services, or materials, as the case may be.  LANDLORD’S interest in the Property is not subject to any lien or claim of lien for any such labor, services, or materials.  TENANT has no power to authorize or contract on LANDLORD’S behalf for any such work or otherwise to subject LANDLORD or LANDLORD’S interest in the Property to any claim relating to any such work.  TENANT will comply with any applicable requirements of any Mechanic’s Lien Law with respect to any work by TENANT that is or may be subject to its provisions.
8.Insurance Required.  Without limiting, and as security for, TENANT’S indemnity contained in this Lease, TENANT will maintain general liability insurance with respect to the Premises in commercially reasonable amounts equaling or exceeding the Insurance Limits shown on the Summary Page of this Lease.  TENANT also will maintain (i) workmen’s compensation insurance in the amount of TENANT’S full statutory liability, if any, and (ii) physical damage insurance with respect to any improvements, equipment, fixtures, and other installations TENANT is obligated to restore by the express provisions of this Lease.  As and when required by LANDLORD for any installation, maintenance, or restoration by TENANT pursuant to the express provisions of this Lease, TENANT also will maintain physical damage insurance with respect to such work or installation, or both, as the case may be.
9.Policies.  All insurers must be authorized to do business in the state where the Property is situated and well-rated by any recognized national rating organization.  Except for workmen’s compensation insurance, any policies required to be maintained by TENANT will name LANDLORD as additional insured, as its respective interests may appear, will be reasonably satisfactory to LANDLORD, and may provide for commercially reasonable deductible amounts.  Any insurance may be carried under blanket policies, so long as each policy provides a reserved amount for the Property so that the amount of insurance required by this Lease will be available notwithstanding any losses elsewhere.  Any policies maintained by either 

LANDLORD or TENANT with respect to the Property that do not name LANDLORD and TENANT as co-insured or additional insured at all times will carry a waiver of subrogation endorsement, as LANDLORD and TENANT mutually waive the benefit of subrogation by their respective insurers with respect to any loss occurring on, about, or with respect to the Property.
10.Certificates.  Each policy required to be maintained by TENANT must (i) provide prior written notice to LANDLORD and any mortgagee of LANDLORD’S interest in the Property of suspension, cancellation, termination, modification, non-renewal, lapse, or material change of coverage, and (ii) not contain any provision relieving the insurer of liability for any loss because of the existence of other policies of insurance, regardless of collectability.  LANDLORD, and any mortgagee of LANDLORD’S interest in the Property, at all times must hold satisfactory certificates, or original, duplicate, or certified policies, evidencing any insurance required to be maintained by TENANT.  All property insurance certificates shall be in the form “Accord 27”.  Prior to the expiration of any policy, TENANT will furnish LANDLORD and such mortgagees with similar evidence of its renewal.  During any time that substantial construction may be in progress at the Property, any required physical damage insurance with respect to such construction must be in the form of builder’s risk completed value, non-reporting coverage, and otherwise in the form, content, and in such amounts as required by LANDLORD.
11.LANDLORD’S Insurance.  LANDLORD will maintain in full force and effect at all times during the term of the Lease fire and extended coverage, vandalism and malicious mischief, and special extended perils, “all risks”, on the Property and the Premises in the amount equal to the full replacement cost thereof, public liability and broad form property damage insurance in an amount equal to the full replacement value of the property with combined single limit coverage with an insurance company licensed in South Carolina.  Upon request, LANDLORD will furnish to TENANT with duly executed certificates of insurance evidencing the coverage as provided by all such policies.  TENANT shall be named as an additional insured under LANDLORD’S public liability insurance.
12.Assignment.  TENANT may not mortgage, pledge, or otherwise encumber its interest in the Property, this Lease, any sublease of the Premises, or any subrents.  Any such mortgage, pledge, or encumbrance is voidable, at LANDLORD’S option, and an immediate Event of Default.  TENANT may sublease the Premises or assign TENANT’S interest in this Lease only with LANDLORD’S advance written consent in each instance, which consent will not be unreasonably withheld, provided the following conditions are met:
(a)Subordination.  Any sublease or assignment expressly is subject to the provisions of this Lease.
(b)Prepayments.  No sublease permits the sub tenant to pay rent in advance for a period of more than one month.
(c)Impairment.    No such sublease or assignment alters, diminishes, or impairs any of TENANT’S obligations under this Lease, or any rights or remedies of LANDLORD.
(d)Business.  Each such sublease or assignment is to an affiliated or successor entity of TENANT, with equal or greater net worth, that will conduct a business on or from the Premises that is substantially the same as, or reasonably related or incidental to, TENANT’S business, and will not increase the use of any of the Property’s common areas.
(e)Rent.  Any increased rent, or consideration in lieu of rent, is paid to LANDLORD.
Notwithstanding LANDLORD’S consent to any sublease or assignment, all of TENANT’S obligations under this Lease continue as the obligations of a principal, and not a guarantor or surety, to the same extent as though no such assignment or sublease has been made.  TENANT shall pay, within ten (10) days of receipt of an invoice, which shall not exceed $500.00, LANDLORD’S reasonable attorney fees and costs in connection with the review and documentation of any transfer, for which LANDLORD’S consent is requested.

13.Documentation.  Simultaneously with any permitted assignment, the assignee must deliver to LANDLORD a written assumption of TENANT’S obligations under this Lease satisfactory to LANDLORD.  Simultaneously with any permitted sublease, the sub tenant must acknowledge by a written instrument satisfactory to LANDLORD that such sublease in all respects is subject and subordinate to the terms and provisions of this Lease.
14.Reorganization.  Notwithstanding anything set forth to the contrary in this Part E, TENANT may, with the consent of LANDLORD, which shall not be unreasonably withheld, assign this Lease or sublet all or any portion of the Premises (i) to any entity which controls, is controlled by or is under common control with TENANT, (ii) in connection with any merger or consolidation of TENANT, or (iii) in connection with a sale of all or substantially all of TENANT’S assets for a legitimate business purpose; however, TENANT shall remain fully liable on this Lease and shall not be released from performing any of its obligations hereunder, notwithstanding any such assignment or subletting..._LANDLORD will respond with affirmation or justification for any denial within fifteen (15) calendar days.  If LANDLORD does not respond within fifteen (15) calendar days, LANDLORD will have been deemed to have consented.
15.Transfer of LANDLORD’S Interest.  If LANDLORD shall sell, assign or transfer all or any part of its interest in the Premises or in this Lease to a successor in interest which expressly assumes the obligations of LANDLORD hereunder, then LANDLORD shall thereupon be released or discharged from all covenants and obligations hereunder and TENANT shall look solely to such successor in interest for performance of all of LANDLORD’S obligations.  TENANT’S obligations under this Lease shall in no manner be affected by LANDLORD’S assignment hereunder; and TENANT shall thereafter attorn and look solely to such successor in interest as the LANDLORD hereunder.
16.Books and Records.  To the extent LANDLORD’S consent to any subletting or assignment is required, within thirty (30) days from the written request of LANDLORD, TENANT shall furnish current financial statements, a balance sheet, a statement of income and expenses of the proposed subtenant or assignee and a statement of changes in financial position.  All financial statements shall be confidential and shall be used only for financing, refinancing or sale of the Premises.
PART E.DEFAULT AND REMEDIES
1.Events of Default.  Any of the following is an “Event of Default” under the Lease:
(a)Rent.  TENANT’S failure to pay rent in full within ten (10) days after it is due, without notice or demand.
(b)Other Monetary.  TENANT fails to pay any other sum of money required by this Lease within thirty (30) days after demand.
(c)General.  Failure to comply with any other TENANT obligation under this Lease within 30 days after demand.
(d)Bankruptcy.  TENANT files a petition in bankruptcy, or for a reorganization, arrangement, liquidation, or other relief pursuant to the National Bankruptcy Act or any similar law, federal or state, now or hereafter in effect, or files any other application seeking the benefit of any such law, or makes an assignment for the benefit of creditors, or admits in writing its inability to pay its debts as they become due, or suspends payment of its obligations, or takes any action to further any of the foregoing: or TENANT consents to the appointment of a receiver, trustee, liquidator, or other similar official of TENANT or the Premises, or both; or a petition, answer, or other application proposing an adjudication of TENANT as a bankrupt, or TENANT’S reorganization, arrangement, liquidation, or other relief pursuant to the National Bankruptcy Act or any similar law, federal or state, now or hereafter in effect, is filed in, and approved by, any judicial or administrative tribunal of competent jurisdiction and such order is not vacated or stayed within sixty (60) days from entry; or TENANT consents to the filing of any such application, or fails to deny its material allegations in a timely manner; or the occurrence of any of the events described in this subparagraph with respect to any assignee of TENANT or any guarantor of any of TENANT’S obligations under this Lease.

(e)Process.  Execution or other process, judicial or administrative, issues by, through, under, or against TENANT with respect to TENANT’S interest in this Lease or the Premises, or both, and, within ten days thereafter, is not stayed, released, satisfied, or discharged, or provision made for its discharge according to its terms; or any such stay thereafter is vacated, released, or discharged for any reason, including affirmance on appeal, and such process then is not within ten days thereafter released, satisfied, or discharged, or provision made for its discharge according to its terms.
(f)Encumbrances.  Any federal, state, or local tax lien, or any claim of lien for labor, services, or materials, or any other lien, encumbrance, or adverse claim of any nature whatsoever, including a lis pendens or other notice of pendency, is recorded, filed, or asserted against or with respect to the Property or the rent by, through, under, or against TENANT, or otherwise relates to an obligation that TENANT is required to perform under this Lease, and is not removed by payment or transferred to substitute security within ten days after demand.
(g)Transfer.  Any transfer of TENANT’S interest in this Lease, or the Property, except in compliance with the requirements of this Lease, including any transfer by operation of law.
(h)Other.  Any event occurs that expressly is an “Event of Default” under any provision of this Lease.
As used in this Lease, a “default” is any event that, with the passage of time or the giving of notice, or both, may become an “Event of Default” under this paragraph.
2.Remedies.  If an Event of Default occurs, LANDLORD immediately may exercise any of the following rights and remedies, without notice or demand, in addition to any other rights or remedies, and in such order as LANDLORD may elect:
(a)Advances.  Advance such monies, and take such other action, for TENANT’S account as reasonably may be required to cure or mitigate any default or Event of Default.  Any such advance, and any cost or expense so incurred, bears interest as provided in this Lease.
(b)Re-entry.  Terminate TENANT’S right to possession of the Premises, without terminating this demise or TENANT’S liability under this Lease and re-enter the Premises by lawful procedure for TENANT’S account.  If LANDLORD elects such re-entry, LANDLORD will attempt in good faith to relet the Premises for TENANT’S account for such rent and upon such other terms and conditions as LANDLORD considers appropriate to reduce TENANT’S liability and minimize LANDLORD’S damage.  LANDLORD is privileged to make installations, removals, maintenance, redecorating, renovations, and restorations to the Premises for such purpose.  None of the foregoing actions waive, limit, or otherwise impair any other right or remedy of LANDLORD.  TENANT instead will remain liable for any rent, interest, Actual Damages, and any difference between (i) the proceeds of any reletting, and (ii) the amounts LANDLORD would have received had TENANT fully performed TENANT’S obligations under this Lease through the Expiration Date.  At any time during such re-entry or reletting, LANDLORD may elect to terminate this demise by written notice, as provided in the following subparagraph.  TENANT has no claim to, and LANDLORD is not obligated to account to TENANT for, any surplus proceeds that may result from any reletting.  Any proceeds of any reletting reduces TENANT’S liability only if, as, when, and to the extent actually received by LANDLORD.  No notice to, or approval by, TENANT is required for any action pursuant to this subparagraph, nor is LANDLORD obligated to account to TENANT for any such action that is undertaken in good faith.
(c)Termination.  Terminate this demise and re-enter and repossess the Premises by lawful procedure and for LANDLORD’S account.  The term and estate granted by this Lease, together with any other right, title, or interest of TENANT in or to the Premises, the Property, and the proceeds of any reletting then will terminate.  No such termination waives, limits, or otherwise impairs any 

right or remedy to collect from TENANT any rent, interest, and Actual Damages that are accrued and unpaid at the termination, nor any Liquidated Damages that may be payable.
(d)Liquidated Damages.    Collect, as “Liquidated Damages” for the 
(e)termination of this demise, an amount equivalent to the difference between (i) the total unpaid Basic Rent, and reasonably determinable Additional Rent, for the period between the termination of this demise and the Expiration Date, and (ii) the fair rental value of the Premises at termination for the same period.  The foregoing amounts will be discounted to present worth at the annual rate of 10%.  No Liquidated Damages are payable if, at termination, LANDLORD has a binding agreement to relet the Premises for LANDLORD’S account through the Expiration Date at the same or greater Basic Rent, and determinable Additional Rent, as then in effect under this Lease.
(f)Actual Damages.  Recover, as “Actual Damages,” any costs and expenses properly incurred by LANDLORD for terminating this demise, or TENANT’S right to possession, as the case may be, including any leasing commissions remaining payable in connection with this demise, the prorated balance of any prepaid leasing commissions with respect to this demise, and other professional compensation, costs, and expenses, as provided below in this Lease.  Because LANDLORD agrees to minimize LANDLORD’S damage unless LANDLORD elects to terminate this demise, such items, together with any other costs and expenses actually incurred by LANDLORD for repossessing the Premises, terminating this demise, and renovating, redecorating, protecting, maintaining, restoring, and reletting the Premises, as the case may be, are damages, due on demand, and bear interest as provided in this Lease.
(g)Security.  Apply the Security Deposit, and any other property securing 
(h)TENANT’S obligations under this Lease, to LANDLORD’S losses in such order as LANDLORD elects.  LANDLORD must account for such application only as and when the full extent of LANDLORD’S damage is known, or the security is exhausted, whichever occurs first.
(i)Fixtures.  Enforce in any lawful manner the benefit of a LANDLORD’S lien upon, or a security interest in, any fixtures, equipment, inventory, and other tangible property of TENANT then situated upon or about the Premises.  TENANT grants LANDLORD the benefit of a LANDLORD’S lien upon, and a security interest in, all tangible properly of TENANT from time to time situated upon the Premises, as security for TENANT’S performance of TENANT’S obligations under this Lease.  The foregoing lien and security interest are subject and subordinate to any single purchase money security interest property perfected in such property at or before its delivery or installation to the Premises; but LANDLORD has no duty to the holder of any such prior security interest, except to permit such holder to remove such property from the Premises within 15 days after written demand and upon payment of the costs of any restoration of the Property required by such removal.  This subparagraph does not apply to any of TENANT’S leasehold improvements or other property that expressly may become LANDLORD’S property upon the expiration or earlier termination of this Lease, if LANDLORD so elects.
Nothing in this Lease limits or prejudices any right or remedy of LANDLORD, in any bankruptcy, reorganization, or insolvency proceeding, administrative or judicial, to prove for and obtain an amount equal to the maximum that may be allowed in connection with such proceeding.  No right or remedy of LANDLORD is exclusive of any other right or remedy; and every right and remedy is cumulative to any other right or remedy otherwise available.  To the maximum extent permitted by law, TENANT and any guarantors each waive the benefit of any homestead or other exemption laws regarding the enforcement and collection of TENANT’S obligations under this Lease.
3.Equitable Remedies.  LANDLORD or TENANT is entitled, if otherwise appropriate, to (i) injunctive or other equitable or declaratory relief in case of any violation, or any attempted or threatened violation, of any provision of this Lease; (ii) an order compelling the 

observance or performance of any such provision; and (iii) one or more accountings of TENANT’S obligations under this Lease.
4.Waiver.  No waiver of any right or remedy is effective against LANDLORD unless made in writing and signed by LANDLORD.  Without limitation, (i) LANDLORD’S acceptance of any rent with knowledge of any default or Event of Default is not, by itself, a waiver of such default or Event of Default; and (ii) no attempted surrender of the Premises, by delivery of a key or otherwise, waives, limits, or otherwise impairs any right or remedy of LANDLORD unless LANDLORD so agrees in writing.
5.LANDLORD’S Default.  LANDLORD is not in default under this Lease unless LANDLORD fails to perform any required obligation within thirty (30) days after written demand, specifying the exact nature of the obligation that LANDLORD allegedly has failed to perform.  If the nature of LANDLORD’S obligation is such that more than thirty (30) days reasonably is required for performance, then LANDLORD will not be in default if LANDLORD promptly begins performance within such 30-day period and pursues it diligently and continuously to completion, except as noted in -Paragraph D.1(a).
6.Holding Over.  If TENANT remains in possession of the Premises after the expiration or any earlier termination of this Lease with LANDLORD’S permission, such continued possession is not, by itself, an extension or renewal of the term of this Lease, but a statutory tenancy at will from month to month, at the rent and otherwise subject to the provisions of this document, except to the extent the parties mutually agree otherwise at the time.  If TENANT so remains in possession without LANDLORD’S permission, then such continued possession is a tenancy at sufferance at twice the Basic Rent then in effect, prorated on a daily basis until TENANT surrenders possession as required by this Lease.
7.Abandoned Property.  If LANDLORD re-enters the Premises, whether at the expiration or any earlier termination of this Lease or after an Event of Default, LANDLORD’S sole duty with respect to any property of TENANT left on or about the Property, or otherwise within LANDLORD’S possession, custody, or control as a result of this Lease, is not to damage it intentionally; and LANDLORD need exercise only slight care with respect to the custody of such property.
(a)TENANT Delivery.  If TENANT at the time otherwise fully has performed all of TENANT’S obligations under this Lease, LANDLORD must hold such property and deliver it to TENANT, if claimed within 30 days.  LANDLORD may condition such delivery upon TENANT’S reimbursing LANDLORD for any reasonable costs of moving, storing, or protecting such property.
(b)Unclaimed.  If any such property is not so claimed within such 30-day period, LANDLORD may proceed to dispose of it in any manner that LANDLORD may elect, including converting it to LANDLORD’S own use or benefit, without any liability on the part of the LANDLORD.
(c)Other.  LANDLORD also may deliver any such property to any person who appears to be its rightful owner or claimant.  If any conflicting claims are asserted with respect to any such property, LANDLORD may deliver it to any claimant who (i) reimburses LANDLORD for any expenses incurred for moving, protecting, or storing such property, and (ii) either removes it from the Property or assumes all further liability for any costs of storage.
This paragraph does not apply to any Security Deposit or any leasehold improvements, fixtures, installations, or other property that, pursuant to any provision of this Lease, become LANDLORD’S property upon the expiration or any earlier termination of this Lease.  LANDLORD has no duty to notify TENANT of, nor any liability or duty to account for, any action taken by LANDLORD pursuant to this paragraph.
8.Costs.  If LANDLORD or TENANT reasonably employs any attorneys, appraisers, architects, brokers, engineers, or other professionals with respect to any default, or Event of Default, by TENANT or LANDLORD the prevailing party shall be entitled to compensation from the losing party by reimbursement for, as the case may be, all reasonable compensation for all such professionals so employed, regardless of whether suit or other proceeding is instituted and, if instituted, for any arbitration, administrative, trial, appellate, and other proceedings.  Losing party also will pay (i) any 

other costs of collection incurred, and (ii) any costs and reasonable professional fees that otherwise may be sustained or incurred by prevailing party for any arbitration, administrative, trial appellate, or other proceedings involving the collection, enforcement, validity, or interpretation of this Lease or any use, activity, or installation of losing party.
9.LANDLORD Liability.  All obligations of LANDLORD hereunder will be construed as covenants, not conditions, and all such obligations will be binding upon LANDLORD only during the period of its ownership and possession of the Property and not thereafter.  The term “LANDLORD” shall mean only the owner, for the time being of the Property, and in the event of the transfer by such owner of its interest in the Property, such owner shall thereupon be released and discharged from all covenants and obligations of the LANDLORD thereafter accruing, but such covenants and obligations shall be binding during the Lease term upon each new owner for the duration of such owner’s ownership.  Notwithstanding any other provision hereof, LANDLORD shall not have any personal liability hereunder.  In the event of any breach or default by LANDLORD in any term or provision of this Lease, TENANT agrees to look solely to the equity or interest then owned by LANDLORD in the land and improvements which constitute the Property; however, in no event, shall any deficiency judgment or any money judgment of any kind be sought or obtained against any LANDLORD which is now or hereafter a party to this Lease.  In the event of LANDLORD’S material breach of the Lease or default thereunder and failure to cure such breach or default within thirty (30) days after receipt of written notice from TENANT, TENANT shall have the right to terminate this Lease, or in, TENANT’S discretion to terminate TENANT’S obligations under this Lease, effective immediately, in either case without any further obligations or liabilities under this Lease, and to resort to such other and further remedies as may be available to it at law or in equity; provided, however, that if LANDLORD’S breach cannot be cured within thirty (30) days, TENANT shall not have the right to terminate the Lease so long as the cure was commenced within thirty (30) days and LANDLORD is diligently pursuing its completion.
PART F.MISCELLANEOUS
1.LANDLORD.  “LANDLORD” means the person who from time to time holds the fee simple interest in the Property.  Upon any transfer of the Property, each prior LANDLORD is relieved from any further liability under or with respect to this Lease.  Unless expressly agreed otherwise in writing, no successor LANDLORD is liable to TENANT for any act, omission, or default of any prior LANDLORD.  No LANDLORD is liable for any consequential loss or damage to TENANT for any default under this Lease, including any failure to maintain or restore the Property, or any other event, except for the acts or omissions taken by that LANDLORD which arise to the level of gross negligence’ or willful misconduct.  LANDLORD represents and warrants that it has all necessary authority to enter into this Lease and LANDLORD is the owner of the Property.  LANDLORD represents, warrants and covenants that the Property shall not, at any time, be subject to any easement, covenant, restriction or other encumbrance that might interfere with TENANT’S use and enjoyment of the Premises.
2.Consent.  Wherever this Lease provides that LANDLORD has the right consent to, or -approve of, a certain act or omission-, such consent language shall be deemed to include the requirement that LANDLORD’S consent will not be unreasonably withheld or delayed regardless of whether such language is included in a given provision.
3.Notices.  Any notice or demand that must or may be given or made in connection with this demise must be made or confirmed in writing.  Unless receipt expressly is required, any notice or demand is deemed given, delivered, or made, as the case may be, when mailed by express mail, or by certified or registered mail, return receipt requested, in any event with sufficient postage affixed, to the addresses set forth in this Lease.  Such addresses may be changed by notice pursuant to this paragraph; but notice of change of address is effective only upon receipt.    Notice or demand also may be given or made by private courier, 
4.telecommunications, or other service that offers reliable proof of expeditious delivery; but any such notice is effective only upon actual delivery at the required address.

5.Certificates.  As and when from time to time requested, each party within ten (10) days will execute and deliver, or cause to be executed and delivered, to or as directed by the other party, such estoppel certificates with respect to such matters relating to this demise as reasonably may be required.  Without limitation, any such document may require any of the following certifications:
(a)Entire Agreement.  This Lease contains the entire agreement of LANDLORD and TENANT with respect to the leasing, improvement, use, possession, and occupancy of the Property and is in full force and effect according to the original terms or, if there have been any amendments, identifying them.
(b)Default.  Neither LANDLORD nor TENANT is in default in performing their respective obligations under this Lease, or, if there are any defaults known to the party delivering such certificate, identifying them.
(c)Proceedings.  Neither LANDLORD nor TENANT, as the case may be, knows of any proceedings, judicial or administrative, that are pending or threatened with respect to either party or the Property that, if adversely determined, will prevent or impair either party’s ability to perform its respective obligations under this Lease, or, if any such proceedings are known, identifying them.
(d)Performance.  The date through which any rent has been paid, the date the next installment of Basic Rent is due, the amount of any Additional Rent then due, and a description of any security that LANDLORD then may hold for TENANT’S performance of any of its obligations under this Lease.
6.Effect.  Except as expressly stated otherwise, the provisions of this Lease bind, and are for the benefit of, each person executing this Lease as LANDLORD or TENANT and their respective heirs, successors, and assigns.  This Lease and any identified attachments contain the entire agreement of the parties; and any previous or contemporaneous agreements are merged into this Lease and superseded by its delivery.  No waiver of any provision of this Lease is effective unless made in writing, signed by the party to be charged; and no such waiver is a waiver of any future event, or any other provision, unless it expressly so provides.  This Lease otherwise may be changed only by a writing executed by both LANDLORD and TENANT.
7.Interpretation.  LANDLORD and TENANT participated equally in preparing this Lease, and it may not be more strictly interpreted against any party because of such participation.  Headings are for indexing and may not be used to interpret any substantive provisions.  Unless the context expressly or necessarily requires other: (i) any right or remedy may be exercised from time to time and at any time, in whole or in part, as often as the party entitled to exercise it considers necessary, convenient, desirable, or expedient; (ii) each use of the singular includes the plural, and vice versa, unless the foregoing produces a logically or legally impossible result; (iii) any action required or permitted by this document is at the expense of the party required or permitted to take it; (iv) terms such as “Property” and “Premises” are used in the same sense as if the words “all or any applicable part of” immediately preceded each use of such terms; (v) any terms defined on the attached “Schedule of Defined Terms” and the cover page to this Lease have their respective defined meanings; and (vi) each use of the term “Property” includes the Premises.
8.Severability.  The provisions of this Lease should be interpreted to avoid internal inconsistencies, conflicting results, or invalidity.  If any provision of this Lease, or its application, is invalid under any law applicable to this demise, such provision is severable, at either LANDLORD or TENANT’S option.  This Lease otherwise will be interpreted to place LANDLORD and TENANT in the same financial position LANDLORD or TENANT would have occupied had each of their obligations under this Lease been fully performed for the full term of this demise.
9.Acceptance.  This Lease is effective only when executed by both parties and delivered by LANDLORD to TENANT.  TENANT promptly upon demand will furnish LANDLORD with a corporate resolution, proof of authorization by partners, or other appropriate documentation evidencing the authorization TENANT’S signatory.
10.Governing Law.  This Lease is entered into, under, and shall be construed according to the laws of the State of South Carolina.

11.Time of the Essence.  Time is of the essence in each and every provision of this Lease.
12.Counterparts.  This Agreement may be executed in two or more counterparts and all such counterparts shall constitute one and the same instrument.
To WITNESS the foregoing, this Lease has been executed and delivered, effective as of the Contract Date.
	
		
	LANDLORD:  JLM & Associates
By:                                                  
J.  L Mitchell
Title:  Manager and Sole Member
Date:                                              
WITNESSES for the LANDLORD:
                                                        

	TENANT:  D3 Technologies, Inc.
By                                                        
Richard L. Johnson
Title:President, D3 Technologies Inc.
Date:                                                   
WITNESSES for the TENANT:
                                                     

	NOTICE ADDRESS for the LANDLORD:
JLM & Associates, LLC
1047 Keys Drive
Greenville, South Carolina 29615
	NOTICE ADDRESS for the TENANT:
D3 Technologies, Inc.
4838 Ronson Court Suite R 
San Diego, CA 92111

SCHEDULE OF DEFINED TERMS
(a)    “any” means “any and all.”
(b)    “casualty” means (i) fire, wind, flood, and other acts of God, (ii) theft, vandalism, and other criminal or civilly actionable acts or omissions of any third person, (iii) riot, civil commotion, and other acts of any public enemy, (iv) expropriation and other paramount acts of any sovereign not amounting to a taking, and (v) any occurrence of undeterminable or undetermined origin.
(c)    “damage” means damage, injury, destruction, or devaluation to or of property, in any applicable combination, including that caused by, or otherwise resulting from, any casualty or taking.  “Damage” does not include ordinary wear and tear and deterioration resulting from the reasonable and ordinary use of any property for its intended purposes.
(d)    “days” means consecutive calendar days, unless the expiration of any time period measured in days falls on a Saturday, Sunday, or legal holiday at the place where performance must be tendered, when such expiration automatically will be extended to the next day that is not a Saturday, Sunday, or legal holiday.
(e)    “execute” means, in referring to a written instrument, to sign, seal, attest, certify, acknowledge, subscribe, in any applicable combination, as necessary or appropriate to validate, perfect, or authenticate the instrument delivered, in any applicable combination.
(f)    “include” and “including” each are without limitation.
(g)    “indemnify” means the indemnitor will defend, indemnify, and hold the indemnitee harmless against any claims, losses, or liabilities asserted against the indemnitee by, or incurred by the indemnitee to, any person because of any matters covered by the indemnity.  The scope of any indemnity includes any costs and expenses, including reasonable attorneys’ fees, incurred in defending any indemnified claim, or in enforcing the indemnity, or both.

(h)    “install” and “installation” respectively mean, in referring to tangible property, to construct, place, erect, plant, fabricate, attach, and otherwise install, in any applicable combination, and construction, erection, placing, planting, fabrication, attachment, and other installation, in any applicable combination.
(i)    “insurance requirements” means any valid terms of any insurance policy covering or applicable to the Property, any valid requirements of the issuer of any such policy, and any valid orders, rules, regulations, and other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) applicable to or affecting the Property, or its use or condition.
(j)    “interpret” and “interpretation’? respectively mean, in referring to a written instrument, to interpret, construe, apply, or enforce its provisions, in any applicable combination, and the interpretation, construction, application, or enforcement of such provisions, in any applicable combination.
(k)    “legal requirement” means (i) any laws, statutes, codes, ordinances, orders, judgments, decrees, injunctions, rules, regulations, permits, licenses, authorizations, directions, and requirements of, and agreements with, any sovereign, including without limitation, Applicable Environmental law and (ii) any valid requirements of any instrument applicable to the Property that is recorded on the Contract Date or otherwise permitted by this Lease.
(l)    “maintain” and “maintenance” respectively mean, in referring to property, to operate, use, repair, service, protect, inspect, maintain, renew, and replace, in any applicable combination, and operation, use, repair, servicing, protection, inspection, maintenance, renewal, and replacement, in any applicable combination.
(m)    “may not” and other negative forms of the verb “may” are prohibitory.
(n)    “person” means any natural person or artificial entity having legal capacity, other than the parties to this Lease.
(o)    “record” or “recorded” means filed for record in the public records of the county where the Property is situated, or such other place as from time to time provides constructive notice of instruments affecting title to the Property.
(p)    “restore” and “restoration” respectively mean, in referring to any damage to property, to repair, replace, reconstruct, substitute, and otherwise restore, as nearly as practicable, the property damaged, and any other property affected by the damage, to the same or better class, character, value, and utility as existed before the damage, and repair, replacement, reconstruction, substitution, and other restoration in the foregoing manner, all in any applicable combination.
(q)    “right or remedy,” “rights and remedies,” and similar expressions each mean any rights, powers, privileges, immunities, remedies, elections, or options expressly provided or otherwise available and not expressly precluded.
(r)    “sovereign” means any duly constituted government or any authorized agency, officer, or instrumentality of any such government, or any other person duly authorized to exercise sovereign powers, including (i) the United States of America, or any of its agencies, officers, or instrumentalities; or (ii) the state where the property is situated, or any of its agencies, officers, municipalities, or political subdivisions; or (iii) any officer, agency, or instrumentality of any such municipality or political subdivision or (iv) any utility or other person duly authorized to exercise the power of eminent domain; or (v) any agency duly authorized to exercise the police power on behalf of any duly constituted government.
(s)    “taking” means any condemnation, requisitioning, conversion, or other taking or acquisition of property pursuant to, or in lieu of, the exercise of the power of eminent domain, or any damage to property caused by any sovereign and amounting to a taking.
(t)    “unless” means “unless and until.”
(u)    “will” and “must” each are mandatory.
LANDLORD:                                                 

TENANT:                                                      

EXHIBIT “A” 
JLM & Associates
Property Legal Description
The property consists of 4.83 acres fronting on Keys Drive in Greenville County, South Carolina and is further identified on Greenville County Tax Map Numbers as 0543.01-01-016.00 and 0543.01-01-016.01.
Premises Description
An approximate 11,518 square foot space in a building called JLM & Associates, commonly known and numbered as 1045 Keys Drive, Greenville, South Carolina.

LANDLORD:                                                     
TENANT:                                                             

EXHIBIT “B”
Rules and Regulations
		
	1.
	TENANT shall not obstruct or impede the use of the Common Areas by others nor use the Common Areas for other than their intended purposes.

		
	2.
	All deliveries and shipments shall be made only at TENANT’S entries or other areas designated by LANDLORD.

		
	3.
	TENANT shall place garbage and refuse only in trash containers approved by LANDLORD.  Such containers shall be kept either inside the Leased Premises or outside the Leased Premises in such areas as are from time to time designated by LANDLORD.  The LANDLORD shall approve the trash collection and disposal service which will be utilized to empty and haul away such garbage and refuse the times and days of the week such containers shall be emptied.  TENANT shall pay for the cost of the containers and the periodic trash collection and disposal charges.

		
	4.
	No aerials or antennae shall be placed by TENANT on or about the Property without the written permission of LANDLORD.

		
	5.
	TENANT shall not engage in any activity nor utilize any machinery or apparatus which shall be heard or seen outside the Leased Premises.

		
	6.
	TENANT shall not use the plumbing facilities serving the Leased Premises for the disposal of refuse or any other improper use.  TENANT shall, at its sole cost and expense, repair any damage to such plumbing facilities caused by any such misuse.

		
	7.
	No animals or birds shall be allowed in or about the Leased Premises, unless required by applicable law.

		
	8.
	TENANT shall not store any personal property outside the Leased Premises.

		
	9.
	TENANT shall, at the request of LANDLORD, retain a pest and rodent extermination service approved by LANDLORD which shall periodically treat the Leased Premises in a manner and at such times as are approved by LANDLORD.

		
	10.
	TENANT shall not burn or incinerate trash, refuse or any other items in or outside the Leased Premises.

		
	11.
	LANDLORD shall provide the TENANT with two (2) sets of keys to the Leased Premises.  TENANT may obtain additional keys to the Leased Premises at TENANT’S cost.  TENANT shall provide only its authorized agents and employees with copies of such keys.  Upon termination of the Lease, TENANT shall return all keys to LANDLORD.

		
	12.
	TENANT shall not allow anyone to reside or sleep in the Leased Premises.

		
	13.
	LANDLORD shall not be responsible for any loss, theft or disappearance of personal property from the Premises.

		
	14.
	TENANT shall park only in those areas designated by LANDLORD.  TENANT shall comply with all directional and other signs posted in the parking areas and shall use only one (1) parking stall per vehicle.  TENANT shall not park mobile homes, trailers or similar vehicles in the common parking 

areas.  No vehicle shall be parked overnight in the common parking areas nor shall any inoperable vehicle be allowed to remain in the common parking areas.  Any vehicle which is parked in the common parking areas by TENANT in violation of these Rules and Regulations may be towed away at TENANT’S expense.
		
	15.
	TENANT shall not cover all or any part of any window or door of the Property without obtaining the prior written approval of LANDLORD.

		
	16.
	TENANT shall not conduct or permit to be conducted any auction or similar sale on or about the Property.

		
	17.
	As stated in the Lease, TENANT shall not use the Premises as a “place of public accommodation” as defined in the Americans with Disabilities Act of 1990, which identifies the following categories into one or more of which a business must fall to be a “place of public accommodation”: a) places of lodging; b) establishments serving food or drink; c) places of exhibition or entertainment; d) places of public gathering; e) sales or rental establishments; f) service establishments; g) stations used for specified public transportation; h) places of public display or collection; i) places of recreation; j) places of education; and k) social service center establishments.

These Rules and Regulations and any amendments hereto are intended to supplement the terms and provisions of the Lease and, where possible, shall be applied and interpreted in a manner which is consistent with the terms and provisions of the Lease.  In the event of a conflict between the Lease and these Rules and Regulations, or any amendments thereto, the Lease shall govern.  If LANDLORD or TENANT fails to fully comply with these Rules and Regulations, LANDLORD or TENANT may, in its sole discretion and without waiving any other right or remedy, undertake such actions on behalf of LANDLORD or TENANT as either party determines are necessary to cause LANDLORD or TENANT to fully comply with these Rules and Regulations.  All costs, expenses and fees expended by either party to ensure full compliance with these Rules and Regulations shall constitute Additional costs under the Lease and be immediately due and payable by the LANDLORD or TENANT upon demand and shall bear interest at the rate of fifteen percent (15%) per annum until paid.

LANDLORD:                                                    
TENANT:                                                            

EXHIBIT “C”
Layout of Premises

LANDLORD:                                                  

TENANT:                                                         

EXHIBIT “D” 
Finish Rider
The working drawings for the demised Premises, which include a floor plan and specifications for improvements to be made by LANDLORD at LANDLORD’S sole cost and expense prior to TENANT’S occupancy of the Premises will be attached hereto and made a part hereof.  These drawings will be submitted to both parties for review and written approval, which approval shall not be unreasonably withheld, and will include all improvements to be constructed by LANDLORD.  The Premises are to be finished similarly to TENANT’S existing Premises.  In the absence of said written approval by both parties, this lease will terminate and be of no further effect.

LANDLORD:                                                        
TENANT:                                                                

EXHiBIT “E”
Special Provisions
Parking:  Parking in the surface lot is without additional charge and at a ratio of ratio of 5.2/1000 RSF on a non-reserved basis.

LANDLORD:                                                   

TENANT:                                                          

Re: 1045 Keys Drive
Greenville, SC  29615

FIRST AMENDMENT TO LEASE
THIS FIRST AMENDMENT TO LEASE (“First Amendment”) has been executed as of the 1’ day of August, 2012.  by JLM & Associates, LLC, a South Carolina Limited Liability Company (“LANDLORD”) and D3 Technologies, Inc., a California corporation (“TENANT”).
RECITALS:
A.    The parties executed a Lease Agreement dated August 18, 2011 (hereinafter “Lease Agreement”) with a term of lease commencing on the 1st day of October, 2011, and which expires on the 30th day of September, 2016, pursuant to which TENANT leased approximately 11,518 rentable square feet (the “Original Premises”) in that certain building located at 1045 Keys Drive, Greenville, SC 29615 (“Property”), as more particularly described in the Lease.  All terms, conditions, and provisions of said Lease Agreement are hereby incorporated by reference or by attachment.
B.    TENANT now wishes and LANDLORD agrees to rent an additional 982 square feet within the same Property.  thereby expanding the Premises to 12,500 square feet.
C.    LANDLORD and TENANT desire to execute this First Amendment in order to evidence their agreement to (i) expand the Premises as defined in the Lease Agreement; and (ii) increase the rent to reflect the additional square footage included in the Premises.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, LANDLORD and TENANT agree as follows:
1.    The Summary Page containing the particulars of LANDLORD’S agreement with TENANT, attached hereto as Exhibit A, shall replace and supersede the prior Summary Page, dated August 18, 2011.
2.    All other terms and conditions of the Lease Agreement shall remain unchanged.
3.    This First Amendment may be executed in multiple counterparts each of which is deemed an original but together constitute one and the same instrument.  This First Amendment may be executed by facsimile and each party has the right to rely upon a facsimile counterpart of this First Amendment signed by the other party to the same extent as if such party had received an original counterpart.
IN WITNESS WHEREOF.  this First Amendment has been executed as of the date first above written.

LANDLORD:

JLM & Associates, LLC

By:                                               
J. L. Mitchell

TENANT:

D3 Technologies, Inc.

By:                                                     
     Richard L Johnson, President 

EXHIBIT A
LEASE AGREEMENT
This is a LEASE between LANDLORD and TENANT dated effective as of the Contract Date described below and it WITNESSES that LANDLORD demises to TENANT, and TENANT leases from LANDLORD, the below described Premises for the term, at the rent, and upon the other conditions contained in this Lease.  The Lease consists of this SUMMARY PAGE, the attached STANDARD PROVISIONS, a SCHEDULE OF DEFINED TERMS, and any other Attachments expressly identified on this Summary.
SUMMARY PAGE

	
		
	Contract Date: August 1, 2012
LANDLORD:  JLM & ASSOCIATES, LLC
A South Carolina Limited Liability Company
J. L. Mitchell
Manager and Sole Member
Term off this Lease: 5 Yrs.  0 Mos.
Commencement Date: September 1, 2011
Expiration Date: August 31, 2016
Rental Payment Mailing Address: 
JLM & Associates, LLC
1047 Keys Drive
Greenville, South Carolina 29615
Initial Monthly Rent - Computation 
Basic Rent Months 1-60                                  $8,854.17
Additional Rent:                                               $1,562.50
Total Monthly Payment:                               $10,416.67
Security Deposit:      Intentionally Waived
Security Deposit Date:
Insurance Limits (liability):
Death/Injury:                                                 $1,000,000
Property:                                                        $3,000,000
Excess:                                                            $5,000,000
	TENANT: D3 TECHNOLOGIES, INC
a California Corporation
Property: An office building plus adjacent parking, and other service areas commonly known as JLM & Associates, LLC and legally described in Exhibit "A".
Premises: Commonly known & numbered as 1045 Keys Drive, Greenville, South Carolina 29615, and further described in Exhibit "A".
Permitted Use: Office
Premises Leasable Square Footage:12,500
Property Leasable Square Footage:35,333
TENANT'S Share:35.38 %
Attachments are the following, if checked:
X  Property Legal & Premises Description
(Exhibit "A")
X  Rules and Regulations (Exhibit "B")
X  Layout of Premises (Exhibit "C")
X  Finish Rider (Exhibit "D")
X  Special Provisions (Exhibit "E")
      Guaranty (Exhibit "F")

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