Document:

364-Day Credit Agreement

 Exhibit 10.2 
 EXECUTION COPY 
  
  

 
 364-DAY CREDIT AGREEMENT

 dated as of 
 September 8, 2011 
 among 

NORTHROP GRUMMAN CORPORATION 
 The Lenders Party Hereto 
 JPMORGAN CHASE BANK, N.A., 

as Administrative Agent 
 CITIBANK, N.A., 
 THE ROYAL BANK OF SCOTLAND PLC 

and 
 WELLS FARGO
BANK, NATIONAL ASSOCIATION, 
 as Syndication Agents 

 
  

J.P. MORGAN SECURITIES LLC, 
 CITIGROUP GLOBAL MARKETS INC., 
 RBS SECURITIES INC. 

and 
 WELLS FARGO
SECURITIES, LLC, 
 as Joint Lead Arrangers and Joint Bookrunners 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I
	   

	
	 Definitions
	   

	 SECTION 1.01.
	  	Defined Terms	  	 	1	  
	 SECTION 1.02.
	  	Classification of Loans and Borrowings	  	 	16	  
	 SECTION 1.03.
	  	Terms Generally	  	 	16	  
	 SECTION 1.04.
	  	Accounting Terms; GAAP	  	 	16	  
	 SECTION 1.05.
	  	[Intentionally Omitted]	  	 	16	  
	 SECTION 1.06.
	  	Unrestricted Subsidiaries	  	 	16	  
	
	 ARTICLE II
	   

	
	 The Credits
	   

			
	 SECTION 2.01.
	  	Commitments	  	 	17	  
	 SECTION 2.02.
	  	Loans and Borrowings	  	 	17	  
	 SECTION 2.03.
	  	Requests for Revolving Borrowings	  	 	18	  
	 SECTION 2.04.
	  	Competitive Bid Procedure	  	 	18	  
	 SECTION 2.05.
	  	[Intentionally Omitted]	  	 	20	  
	 SECTION 2.06.
	  	[Intentionally Omitted]	  	 	20	  
	 SECTION 2.07.
	  	Funding of Borrowings	  	 	20	  
	 SECTION 2.08.
	  	Interest Elections	  	 	21	  
	 SECTION 2.09.
	  	Termination and Reduction of Commitments	  	 	22	  
	 SECTION 2.10.
	  	Repayment of Loans; Evidence of Debt; Extension of Maturity Date	  	 	22	  
	 SECTION 2.11.
	  	Prepayment of Loans	  	 	24	  
	 SECTION 2.12.
	  	Fees	  	 	24	  
	 SECTION 2.13.
	  	Interest	  	 	25	  
	 SECTION 2.14.
	  	Alternate Rate of Interest	  	 	25	  
	 SECTION 2.15.
	  	Increased Costs	  	 	26	  
	 SECTION 2.16.
	  	Break Funding Payments	  	 	27	  
	 SECTION 2.17.
	  	Taxes	  	 	28	  
	 SECTION 2.18.
	  	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	31	  
	 SECTION 2.19.
	  	Mitigation Obligations; Replacement of Lenders	  	 	32	  
	 SECTION 2.20.
	  	Defaulting Lenders	  	 	33	  

  
 i 

							
	ARTICLE III	 
	
	 Representations and Warranties
	   

			
	 SECTION 3.01.
	  	Organization; Powers	  	 	33	  
	 SECTION 3.02.
	  	Authorization; Enforceability	  	 	34	  
	 SECTION 3.03.
	  	Governmental Approvals; No Conflicts	  	 	34	  
	 SECTION 3.04.
	  	Financial Condition; No Material Adverse Change	  	 	34	  
	 SECTION 3.05.
	  	Properties	  	 	34	  
	 SECTION 3.06.
	  	Litigation and Environmental Matters	  	 	35	  
	 SECTION 3.07.
	  	No Defaults	  	 	35	  
	 SECTION 3.08.
	  	Investment and Holding Company Status	  	 	35	  
	 SECTION 3.09.
	  	Taxes	  	 	35	  
	 SECTION 3.10.
	  	ERISA	  	 	35	  
	 SECTION 3.11.
	  	Disclosure	  	 	36	  
	 SECTION 3.12.
	  	Use of Proceeds	  	 	36	  
	 SECTION 3.13.
	  	Margin Stock	  	 	36	  
	 SECTION 3.14.
	  	Pari Passu Obligations	  	 	36	  
	
	 ARTICLE IV
	   

	
	 Conditions
	   

			
	 SECTION 4.01.
	  	Effective Date	  	 	36	  
	 SECTION 4.02.
	  	Each Credit Event	  	 	37	  
	
	 ARTICLE V
	   

	
	 Affirmative Covenants
	   

			
	 SECTION 5.01.
	  	Financial Statements and Other Information	  	 	38	  
	 SECTION 5.02.
	  	Notices of Material Events	  	 	39	  
	 SECTION 5.03.
	  	Existence; Conduct of Business	  	 	39	  
	 SECTION 5.04.
	  	Payment of Obligations	  	 	39	  
	 SECTION 5.05.
	  	Insurance	  	 	39	  
	 SECTION 5.06.
	  	Inspection Rights	  	 	40	  
	 SECTION 5.07.
	  	Compliance with Laws	  	 	40	  
	 SECTION 5.08.
	  	Incorporation by Reference	  	 	40	  
	
	 ARTICLE VI
	   

	
	 Negative Covenants
	   

			
	 SECTION 6.01.
	  	Liens	  	 	41	  
	 SECTION 6.02.
	  	Fundamental Changes	  	 	42	  
	 SECTION 6.03.
	  	Consolidated Debt to Capitalization Ratio	  	 	43	  

  
 ii 

							
	
	 ARTICLE VII
	   

	
	 Events of Default
	   

	
	 ARTICLE VIII
	   

	
	 The Administrative Agent
	   

	
	 ARTICLE IX
	   

	
	 Guarantee
	   

			
	 SECTION 9.01.
	  	Guarantee	  	 	48	  
	 SECTION 9.02.
	  	Release of Guarantee	  	 	50	  
	
	 ARTICLE X
	   

	
	 Miscellaneous
	   

	 SECTION 10.01.
	  	Notices	  	 	50	  
	 SECTION 10.02.
	  	Waivers; Amendments	  	 	51	  
	 SECTION 10.03.
	  	Expenses; Indemnity; Damage Waiver	  	 	52	  
	 SECTION 10.04.
	  	Successors and Assigns	  	 	53	  
	 SECTION 10.05.
	  	Survival	  	 	56	  
	 SECTION 10.06.
	  	Counterparts; Integration; Effectiveness	  	 	56	  
	 SECTION 10.07.
	  	Severability	  	 	57	  
	 SECTION 10.08.
	  	No Reliance on Margin Stock	  	 	57	  
	 SECTION 10.09.
	  	Governing Law; Jurisdiction; Consent to Service of Process	  	 	57	  
	 SECTION 10.10.
	  	WAIVER OF JURY TRIAL	  	 	58	  
	 SECTION 10.11.
	  	Headings	  	 	58	  
	 SECTION 10.12.
	  	Confidentiality	  	 	58	  
	 SECTION 10.13.
	  	Interest Rate Limitation	  	 	59	  
	 SECTION 10.14.
	  	Release of Guarantee	  	 	59	  
	 SECTION 10.15.
	  	Conversion of Currencies	  	 	59	  
	 SECTION 10.16.
	  	USA PATRIOT Act Notice	  	 	60	  
	 SECTION 10.17.
	  	No Fiduciary Relationship	  	 	60	  
	 SECTION 10.18.
	  	Non-Public Information	  	 	60	  
	 SECTION 10.19.
	  	Markit Data	  	 	60	  

  
 iii

							
	 SCHEDULES:
	  				  	
			
	 Schedule 2.01
	  	 	—  	  	  	Commitments
			
	 ANNEXES:
	  				  	
			
	 Annex I
	  	 	—  	  	  	Pricing Categories
			
	 EXHIBITS:
	  				  	
			
	 Exhibit A
	  	 	—  	  	  	Form of Assignment and Assumption
	 Exhibit B-1
	  	 	—  	  	  	Form of Opinion of Sheppard, Mullin, Richter & Hampton LLP, Borrower’s Counsel
	 Exhibit B-2
	  	 	—  	  	  	Form of Opinion of Jennifer C. McGarey, Esq., Borrower’s Counsel
	 Exhibit C
	  	 	—  	  	  	Confidentiality Agreement
	 Exhibit D-1
	  	 	—  	  	  	Form of U.S. Tax Certificate
	 Exhibit D-2
	  	 	—  	  	  	Form of U.S. Tax Certificate
	 Exhibit D-3
	  	 	—  	  	  	Form of U.S. Tax Certificate
	 Exhibit D-4
	  	 	—  	  	  	Form of U.S. Tax Certificate

  
 iv 

 364-DAY CREDIT AGREEMENT dated as of September 8, 2011, among NORTHROP
GRUMMAN CORPORATION, a Delaware corporation, as Borrower; NORTHROP GRUMMAN SYSTEMS CORPORATION, a Delaware corporation, as Guarantor; the LENDERS party hereto; JPMORGAN CHASE BANK, N.A., as Administrative Agent; and CITIBANK, N.A., THE ROYAL BANK OF
SCOTLAND PLC and WELLS FARGO BANK, NATIONAL ASSOCIATION, as Syndication Agents. 
 The Borrower has requested that the Lenders
extend, and the Lenders are willing to extend, credit on the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 
 ARTICLE I 
 Definitions 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“5-Year Credit Agreement” means the Second Amended and Restated Credit Agreement dated as of the date hereof among the
Borrower, the Guarantor, the lenders party thereto; JPMorgan Chase Bank, N.A., as Administrative Agent; and Citibank, N.A., The Royal Bank of Scotland plc and Wells Fargo Bank, National Association, as Syndication Agents. 

“ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 
 “Adjusted LIBO
Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest rate per annum (rounded upwards, if necessary to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by
(b) the Statutory Reserve Rate. 
 “Administrative Agent” means JPMCB in its capacity as administrative
agent for the Lenders hereunder, or any successor thereto appointed in accordance with Article VIII. 

“Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent.

 “Affiliate” means, with respect to a specified 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. 

“Agreement” means this 364-Day Credit Agreement (including the Schedules and Exhibits hereto). 

 “Agreement Currency” has the meaning assigned to such term in
Section 10.15(b). 
 “Alternate Base Rate” means, for any day, a rate per annum equal
to the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1/2 of 1% per annum and (c) the LIBO Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day) for a deposit in
US Dollars with a maturity of one month plus 1% per annum. For purposes of clause (c) above, the LIBO Rate on any day shall be based on the rate per annum appearing on the Reuters “LIBOR01” screen displaying British Bankers’
Association Interest Settlement Rates (or on any successor or substitute screen provided by Reuters, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such screen, as determined
by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at approximately 11:00 a.m., London time, two Business Days prior to such day for
deposits in dollars with a maturity of one month. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the LIBO Rate shall be effective from and including the effective date of such change in
the Prime Rate, the Federal Funds Effective Rate or the LIBO Rate, respectively. 
 “Applicable Commitment Fee
Rate” means at any time the applicable rate per annum set forth on Annex I under the caption “Commitment Fee Rate” based on the Pricing Category of the Applicable Index Debt on such date. 

“Applicable Creditor” has the meaning assigned to such term in Section 10.15(b). 

“Applicable Index Debt” means, at any date of determination, (a) prior to the release of the Guarantor, whichever
of (i) the Borrower’s Index Debt and (ii) the Guarantor’s Index Debt is in the superior (i.e. the numerically lower) Pricing Category, and (b) after the release of the Guarantor, the Borrower’s Index Debt. 

“Applicable Margin” means, at any time, (a) in the case of any Eurodollar Loan, (i) prior to the Termination
Date, the Credit Default Swap Spread, but in no event less than the Minimum Applicable LIBOR Margin or higher than the Maximum Applicable LIBOR Margin, and (ii) on and after the Termination Date, the Maximum Applicable LIBOR Margin, and
(b) in the case of any ABR Loan, (i) prior to the Termination Date, the Credit Default Swap Spread, but in no event less than the Minimum Applicable LIBOR Margin or higher than the Maximum Applicable LIBOR Margin, minus 1% per annum,
but in no event less than 0% per annum, and (ii) on and after the Termination Date, the Maximum Applicable LIBOR Margin minus 1% per annum, but in no event less than 0% per annum; provided, that if the Credit Default Swap Spread
shall be unavailable, the Applicable Margin shall, prior to the Termination Date, be determined as provided in the definition of “Credit Default Swap Spread”. 
 “Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such Lender’s Commitment; provided that if any Defaulting
Lender exists at such time, then, for purposes of Section 2.20, the Applicable Percentages shall be calculated disregarding such Defaulting Lender’s Revolving Commitment. If the Commitments have terminated or expired, the Applicable
Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments. 

  
 2 

 “Approved Fund” means any Person (other than a natural person) that is
engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by a Lender, an Affiliate of a Lender or an entity or an Affiliate of an
entity that administers or manages a Lender, and which has the operational capability to administer revolving credits of the type contemplated by this Agreement, or which has an arrangement with the related Lender for the performance of its
obligations hereunder. 
 “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 10.04), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent and the
Borrower. 
 “Availability Period” means the period from and including the Effective Date to but excluding the
earlier of the Termination Date and the date of termination of the Commitments. 
 “Bankruptcy Event” means,
with respect to any Person, that such Person has become the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with
the reorganization or liquidation of its business appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in, any such proceeding or appointment; provided that a Bankruptcy Event shall
not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority so long as such ownership interest does not result in or provide such Person with immunity from the
jurisdiction of courts within the United States of America or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any agreements
made by such Person. 
 “Board” means the Board of Governors of the Federal Reserve System of the United States
of America. 
 “Borrower” means Northrop Grumman Corporation, a Delaware corporation, and its successors and
permitted assigns. 
 “Borrowing” means (a) Revolving Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect or (b) a Competitive Loan or group of Competitive Loans of the same Type made on the same date and as to which a single Interest Period is
in effect. 
 “Borrowing Request” means a request by the Borrower for a Revolving Borrowing in accordance with
Section 2.03. 

  
 3 

 “Business Day” means any day that is not a Saturday, Sunday or other day on
which commercial banks in New York City are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks
are not open for dealings in US Dollar deposits in the London interbank market. 
 “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. 

“Capital Markets Agreement” means any instrument or agreement evidencing or governing Capital Markets Debt. 

“Capital Markets Debt” means, as of each date of determination, Indebtedness existing as of that date and issued
pursuant to one agreement or indenture or a group of related agreements or indentures, in each case in an aggregate principal amount exceeding $150,000,000 that is owed to financial institutions or evidenced by bonds, notes, debentures or similar
instruments. 
 “Change in Control” means (a) the acquisition of ownership, directly or indirectly,
beneficially or of record, by any Person or group (within the meaning of the Securities Exchange Act of 1934 and the rules of the Securities and Exchange Commission thereunder as in effect on the date hereof) of Equity Interests representing more
than 50% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of the Borrower or (b) occupation of a majority of the seats (other than vacant seats) on the board of directors of the Borrower by
Persons who were neither (i) nominated by the board of directors of the Borrower nor (ii) appointed by directors so nominated. 
 “Change in Law” means (a) the adoption of any law, rule or regulation after the date of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender (or, for purposes of Section 2.15(b), by any lending office of such Lender or by such Lender’s holding company, if any)
with any request, rule, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that, notwithstanding anything herein to the contrary,
(i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules guidelines or directives concerning capital
adequacy promulgated by the Bank for International Settlements, the Basel Committee on Banking Regulations and Supervisory Practices (or any successor similar authority) or the United States financial regulatory authorities, in each case pursuant to
Basel III, shall in each case be deemed to be a “Change in Law”, whether enacted, adopted, promulgated or issued before or after the date of this Agreement. 
 “Charges” has the meaning assigned to such term in Section 10.13. 

  
 4 

 “Class”, when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are Revolving Loans or Competitive Loans. 
 “Code” means
the Internal Revenue Code of 1986, as amended from time to time. 
 “Commitment” means, with respect to each
Lender, the commitment of such Lender to make Revolving Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced from time
to time pursuant to Section 2.09 and (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01,
or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’ Commitments is $500,000,000. 

“Competitive Bid” means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

 “Competitive Bid Rate” means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as
applicable, offered by the Lender making such Competitive Bid. 
 “Competitive Bid Request” means a request by
the Borrower for Competitive Bids in accordance with Section 2.04. 
 “Competitive Loan” means a Loan made
pursuant to Section 2.04. 
 “Confidentiality Agreement” means a confidentiality agreement in the form of
Exhibit C. 
 “Consolidated Assets” means, at any time, all assets of the Borrower and the
Subsidiaries at such time, as determined on a consolidated basis in accordance with GAAP. 
 “Consolidated
Debt” means, for any date of determination and without duplication, all indebtedness for borrowed money and Capital Lease Obligations reported as indebtedness in the consolidated financial statements of the Borrower and its Subsidiaries
prepared as of such date of determination, plus all indebtedness for borrowed money and Capital Lease Obligations incurred by third parties and guaranteed by the Borrower or a Subsidiary not otherwise reported as indebtedness in such consolidated
financial statements. 
 “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. “Controlled” has a correlative meaning thereto. 

“Credit Default Swap Spread” means at any time, with respect to any Revolving Loan, the credit default swap spread for
the Applicable Index Debt, determined as of the close of business on the Business Day immediately preceding the most recent Determination Date applicable to such Revolving Loan, as reported by Markit and interpolated to the Maturity Date based on
Markit Data; provided that if the Maturity Date will occur in less than one year, the Credit Default Swap Spread shall be based on the credit 

  
 5 

 
default swap spread reported for a period of one year. The Credit Default Swap Spread so determined with respect to any Revolving Loan shall become effective on the date such Revolving Loan is
made or the day immediately following the most recent applicable Determination Date therefor, as the case may be, and shall remain in effect through and including the next Determination Date. If at any applicable Determination Date the Credit
Default Swap Spread is unavailable, the Borrower and the Lenders shall negotiate in good faith (for a period of up to thirty days after such Determination Date (such thirty-day period, the “Negotiation Period”)) to agree on an
alternative method for establishing the Applicable Margin for Eurodollar Loans and ABR loans. The Applicable Margin for Eurodollar Loans and ABR Loans at any date of determination thereof during the Negotiation Period shall be based upon the then
most recently available quote of the Credit Default Swap Spread. If no such alternative method is agreed upon during the Negotiation Period, then, at all times prior to the Termination Date, the Applicable Margin at any date of determination
subsequent to the end of the Negotiation Period shall be (a) in the case of Eurodollar Loans, 75% of the Maximum Applicable LIBOR Margin, and (b) in the case of ABR Loans, 75% of the Maximum Applicable LIBOR Margin minus 1.00% per
annum (but in no event less than zero). 
 “Credit Party” means the Administrative Agent and each other Lender.

 “Data Provider” has the meaning assigned to such term in Section 10.19(c). 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender” means any Lender that
(a) has failed, within two Business Days of the date required to be funded or paid, (i) to fund any portion of its Loans or (ii) to pay to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of
clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified in such writing, including,
if applicable, by reference to a specific Default) has not been satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a public statement, to the effect that it does not intend or expect to comply with any of its
funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good-faith determination that a condition precedent (specifically identified in such writing, including, if
applicable, by reference to a specific Default) to funding a Loan cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after request by a Credit Party made in
good faith to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations to fund prospective Loans; provided that such Lender shall cease to be a Defaulting Lender pursuant to this
clause (c) upon such Credit Party’s receipt of such certification in form and substance reasonably satisfactory to such Credit Party and the Administrative Agent, (d) has become a “Defaulting Lender” under and as defined in
the 5-Year Credit Agreement or (e)(i) has become the subject of a Bankruptcy Event, (ii) had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of
its business or a custodian appointed for it or (iii) has taken any action in furtherance of, or indicated its consent to, approval of or acquiescence in any such proceeding or appointment; 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 by a Governmental Authority. 

  
 6 

 “Designated Payment Account” means an account with the Administrative Agent
designated from time to time by the Borrower in a writing executed by a Financial Officer. 
 “Designated
Users” has the meaning assigned to such term in Section 10.19(a). 
 “Determination Date” means
(a) in the case of any Eurodollar Loan, the second Business Day prior to the borrowing of such Loan and the second Business Day prior to the continuation of such Loan for an additional Interest Period, provided that, in the case of any
Eurodollar Loan having an Interest Period of greater than three months, the second Business Day prior to each three-month period succeeding the initial three-month period shall also be a Determination Date, (b) in the case of any ABR Loan, the
date of an initial borrowing of any ABR Loans (prior to which no ABR Loans were outstanding) and thereafter the first Business Day of each fiscal quarter so long as any ABR Loans are outstanding. 

“Effective Date” has the meaning assigned to such term in Section 4.01. 

“Environmental Laws” means all applicable 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. 
 “Equity Interests” means shares of capital stock,
partnership interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or
acquire any such equity interest. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as
amended from time to time. 
 “ERISA Group” means the Borrower and all members of a controlled group of
corporations and all trades or businesses (whether or not incorporated) under common control that, together with the Borrower, are treated as a single employer under Section 414 of the Code. 

“Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate (or, in the case of a Competitive Loan, the LIBO Rate). 
 “Event of Default” has the meaning assigned to such term in Article VII. 
 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made by or on account of any obligation of the Borrower or the
Guarantor hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, or by the jurisdiction under the laws of 

  
 7 

 
which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any branch profits taxes
imposed by the United States of America or any similar tax imposed by any other jurisdiction in which such recipient is located and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under
Section 2.19(b) or 10.02(c)), any withholding tax that is imposed (including FATCA) by the United States of America on amounts payable to such Foreign Lender by the Borrower or the Guarantor from locations in the United States of America at the
time such Foreign Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with Section 2.17(f), except to the extent that such Foreign Lender (or its
assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.17(a). 

“Existing Credit Agreement” means the Borrower’s Amended and Restated Credit Agreement dated as of August 10,
2007 (as amended, restated, replaced, supplemented or modified from time to time), as in effect immediately prior to the effectiveness of this Agreement. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement and any regulations or official interpretations thereof. 

“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next
1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if
such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds
brokers of recognized standing selected by it. 
 “Financial Officer” means the chief financial officer,
principal accounting officer, treasurer, assistant treasurer or controller of the Borrower. 
 “Fixed Rate”
means, with respect to any Competitive Loan (other than a Eurodollar Competitive Loan), the fixed rate of interest per annum specified by the Lender making such Competitive Loan in its related Competitive Bid. 

“Fixed Rate Loan” means a Competitive Loan bearing interest at a Fixed Rate. 

“Foreign Lender” means any Lender that is organized under the laws of a jurisdiction other than that in which the
Borrower is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to constitute a single jurisdiction. 

“Funded Debt Agreement” means any agreement, or group of related agreements, evidencing Funded Debt. 

  
 8 

 “Funded Debt” means any Indebtedness for borrowed money (other than Loans
under this Agreement) of the Borrower and/or one or more of its Restricted Subsidiaries. 
 “GAAP” means
generally accepted accounting principles in the United States of America, applied in accordance with Section 1.04. 

“Governmental Authority” means the government of the United States of America, any other nation or any political
subdivision thereof, whether state or local, and 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. 
 “Guarantor” means Northrop Grumman Systems Corporation, a Delaware corporation and
a direct wholly owned subsidiary of the Borrower. 
 “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. 
 “Indebtedness”
means, for any Person, indebtedness for borrowed money and Capital Lease Obligations reported as indebtedness in the consolidated financial statements of that Person and its consolidated subsidiaries, plus all indebtedness for borrowed money and
Capital Lease Obligations incurred by third parties and guaranteed by that Person or any of its consolidated subsidiaries not otherwise reported as indebtedness in such consolidated financial statements. 

“Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Indemnitee” has the meaning assigned to such term in Section 10.03(b). 

“Index Debt” means senior, unsecured long-term indebtedness for borrowed money that does not have the benefit of any
guarantee or other credit enhancement (other than (i) in the case of indebtedness of the Guarantor, a guarantee by the Borrower or (ii) in the case of indebtedness of the Borrower, but only prior to the release of the guarantee set forth
in Article IX, a guarantee by the Guarantor). 
 “Interest Election Request” means a request by the Borrower to
convert or continue a Revolving Borrowing in accordance with Section 2.08. 
 “Interest Payment Date”
means (a) with respect to any ABR Loan, the last day of each March, June, September and December, (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in
the case of a Eurodollar Borrowing with an Interest Period of more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest
Period and (c) with respect to any Fixed Rate Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the 

  
 9 

 
case of a Fixed Rate Borrowing with an Interest Period of more than 90 days’ duration (unless otherwise specified in the applicable Competitive Bid Request), each day prior to the last
day of such Interest Period that occurs at intervals of 90 days’ duration after the first day of such Interest Period, and any other dates that are specified in the applicable Competitive Bid Request as Interest Payment Dates with respect
to such Borrowing. 
 “Interest Period” means (a) with respect to any Eurodollar Revolving Borrowing, the
period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one week or one, two, three or six months thereafter, or any other period agreed to by the Borrower and each
applicable Lender, as the Borrower may elect, (b) with respect to any Eurodollar Competitive Borrowing, the period commencing on the date of such Borrowing and ending 7 days thereafter, or on the numerically corresponding day in the calendar
month that is one, two, three or six months thereafter, or any other period agreed to by the Borrower and each advancing Lender, as the Borrower may elect, and (c) with respect to any Fixed Rate Borrowing, the period (which shall not be less
than 7 days or more than 360 days) commencing on the date of such Borrowing and ending on the date specified in the applicable Competitive Bid Request; provided, that (i) if any Interest Period would end on a day other than a Business
Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end
on the preceding Business Day and (ii) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar
month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and, in the case of a
Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 

“IRS” means the United States Internal Revenue Service. 

“JPMCB” means JPMorgan Chase Bank, N.A. and its successors. 

“Judgment Currency” has the meaning assigned to such term in Section 10.15(b). 

“Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto
pursuant to an Assignment and Assumption in compliance with Section 10.04, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on the Reuters
“LIBOR01” screen displaying British Bankers’ Association Interest Settlement Rates (or on any successor or substitute screen of such service, or any successor to or substitute for such service, providing rate quotations comparable to
those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to US Dollar deposits in the London interbank market) at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for US Dollar 

  
 10 

 
deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time for any reason, then the “LIBO Rate” with respect to such
Eurodollar Borrowing for such Interest Period shall be the rate at which US Dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent in immediately
available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. 
 “Lien” means, with respect to any asset, any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset. 

“Loan Parties” means the Borrower and the Guarantor (but, in the case of the Guarantor, only for so long as the
Guarantor has not been released from the guarantee contained in Section 9.01 pursuant to Section 9.02 or Section 10.14). 
 “Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 
 “Margin” means, with respect to any Competitive Loan bearing interest at a rate based on the LIBO Rate, the marginal rate of interest, if any, to be added to or subtracted from the LIBO
Rate to determine the rate of interest applicable to such Loan, as specified by the Lender making such Loan in its related Competitive Bid. 
 “Margin Stock” has the meaning ascribed to such term in Regulation U issued by the Board. 
 “Markit” means Markit Group Limited or any successor thereto. 

“Markit Data” has the meaning assigned to such term in Section 10.19(a). 

“Material Adverse Effect” means a material adverse effect on (a) the ability of the Loan Parties to perform their
obligations under this Agreement, (b) the validity or enforceability of this Agreement, (c) the rights and remedies of any Lender or the Administrative Agent under this Agreement, or (d) the timely payment of the principal of or
interest on the Loans or other amounts payable in connection therewith. 
 “Material Payment Default” means, as
to any Funded Debt Agreement, that any amount of principal or interest aggregating $100,000 or more is overdue thereunder. 

“Maturity Date” means the Termination Date or any later date to which the Maturity Date shall have been extended
pursuant to Section 2.10(f). 
 “Maximum Applicable LIBOR Margin” means, at any time, with respect to any
Eurodollar Revolving Loan, the applicable rate per annum set forth on Annex I under the caption “Maximum Applicable LIBOR Margin” based on the Pricing Category of the Applicable Index Debt on such date. 

  
 11 

 “Maximum Rate” has the meaning assigned to such term in Section 10.13.

 “Minimum Applicable LIBOR Margin” means, at any time, with respect to any Eurodollar Revolving Loan, the
applicable rate per annum set forth on Annex I under the caption “Minimum Applicable LIBOR Margin” based on the Pricing Category of the Applicable Index Debt on such date. 

“MNPI” means material information concerning the Borrower and the Subsidiaries and their securities that has not been
disseminated in a manner making it available to investors generally, within the meaning of Regulation FD under the Securities Act and the Exchange Act of 1934. 
 “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 
 “Non-Consenting Lender” has the meaning assigned to such term in Section 10.02(c). 
 “Non-Defaulting Lender” means, at any time, any Lender that is not a Defaulting Lender at such time. 
 “Obligations” means (i) the principal of and premium, if any, and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other
similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans and (ii) all other monetary obligations, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed or
otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), of the Loan Parties under this Agreement.

 “Other Taxes” means any and all present or future stamp or documentary taxes or any other excise or property
taxes, charges or similar levies arising from any payment made hereunder or from the execution, delivery or enforcement of, or otherwise with respect to, this Agreement. 
 “Participant” has the meaning set forth in Section 10.04(c)(i). 
 “Participant Register” has the meaning set forth in Section 10.04(c)(i). 
 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing similar functions. 

“Permitted Encumbrances” means: 
 (a) Liens imposed by law for taxes that are not yet due, or remain payable without penalty, or are being contested in good faith and by proper proceedings; 

  
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 (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 30 days or are being contested in good faith and by proper
proceedings; 
 (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 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 clause (k) of Article VII; and 

(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 Borrower or any Subsidiary; 

provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means, at any time, an employee pension benefit
plan (other than a Multiemployer Plan) that is covered by Title IV of ERISA or subject to the minimum funding standards under Section 412 of the Code and is maintained, or contributed to, by any member of the ERISA Group for employees of any
member of the ERISA Group. 
 “Pricing Category” has the meaning assigned to such term in Annex I. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMCB, as its prime rate in
effect at its principal office in New York City. Each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Proposed Change” has the meaning assigned to such term in Section 10.02(c). 

“Register” has the meaning set forth in Section 10.04(b)(iv). 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective
directors, officers, members, partners, trustees, employees, agents and advisors of such Person and such Person’s Affiliates. 

  
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 “Representatives” has the meaning assigned to such term in
Section 10.12. 
 “Required Lenders” means, at any time, Lenders having Revolving Credit Exposures and
unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time; provided that for purposes of declaring the Loans to be due and payable pursuant to Article VII, and for all
purposes after the Loans become due and payable pursuant to Article VII or the Commitments expire or terminate, the outstanding Competitive Loans of the Lenders shall be included in their respective Revolving Credit Exposures in determining the
Required Lenders. 
 “Restricted Subsidiary” means each Subsidiary other than an Unrestricted Subsidiary.

 “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of the outstanding
principal amount of such Lender’s Revolving Loans at such time. 
 “Revolving Loan” means a Loan made
pursuant to Sections 2.01 and 2.03. 
 “Shareholders’ Equity” means, at any time, the consolidated
shareholders’ equity of the Borrower that would be reported as shareholders’ equity on a consolidated balance sheet of the Borrower prepared as of such time. 
 “Significant Subsidiary” means, as of each determination date, each Subsidiary with a book value of total assets, net of depreciation and amortization and after intercompany eliminations,
in excess of $200,000,000. 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator
of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the Board to
which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board). Such reserve percentages shall include those imposed pursuant to such
Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any
Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited
liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with
GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary
voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held. 
 “Subsidiary” means any subsidiary of the Borrower. 

  
 14 

 “Syndication Agents” means Citibank, N.A., The Royal Bank of Scotland plc
and Wells Fargo Bank, National Association, in their capacity as syndication agents hereunder. 
 “Taxes” means
any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by any Governmental Authority. 
 “Telecopy” means telecopier, facsimile, or other similar means of transmission of documentation, including e-mail transmission of pdf files bearing, where required, appropriate
signatures. 
 “Termination Date” means September 6, 2012. 

“Transactions” means the execution, delivery and performance by the Loan Parties of this Agreement and the borrowing of
Loans. 
 “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on
such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate, the Alternate Base Rate or, in the case of a Competitive Loan or Borrowing, the LIBO Rate or a Fixed Rate. 

“Unfunded Liabilities” means, with respect to any Plan at any time, the amount (if any) by which (i) the present
value of all benefits under such Plan exceeds (ii) the fair market value of all Plan assets allocable to such benefits (excluding any accrued but unpaid contributions), all determined as of the then most recent valuation date for such Plan, but
only to the extent that such excess represents a potential liability of a member of the ERISA Group to the PBGC or an appointed trustee under Title IV of ERISA. 
 “Unrestricted Subsidiary” means any Subsidiary designated as such pursuant to and in compliance with Section 1.06 and not thereafter redesignated as a Restricted Subsidiary pursuant
to such Section; provided that no Significant Subsidiary, and no Subsidiary that owns any Equity Interests or Indebtedness of the Borrower or any Restricted Subsidiary, shall be an Unrestricted Subsidiary. 

“USA PATRIOT Act” means the USA PATRIOT Improvement and Reauthorization Act, Title III of Pub. L. 109-177
(signed into law March 9, 2009, as amended from time to time). 
 “US Dollars” or “$”
means the lawful money of the United States of America. 
 “U.S. Tax Certificate” has the meaning assigned
to such term in Section 2.17(f)(ii)(D)(2). 
 “Utilization Percentage” means the percentage produced by
dividing (i) the aggregate Revolving Credit Exposures by (ii) the aggregate Commitments; provided, that if the Commitments have been terminated, the Utilization Percentage shall at all times be 100%. 

  
 15 

 SECTION 1.02. Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Loan”) or by Type (e.g., a “Eurodollar Loan”) or by Class and Type (e.g., a “Eurodollar Revolving Loan”). Borrowings also may be
classified and referred to by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurodollar Borrowing”) or by Class and Type (e.g., a “Eurodollar Revolving Borrowing”). 

SECTION 1.03. Terms Generally. 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 (a) any definition of or reference to any agreement,
instrument or other document herein 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), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and “hereunder”, and words of
similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits, Schedules and Annexes shall be construed to refer to Articles
and Sections of, and Exhibits, Schedules and Annexes to, this Agreement and (e) 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. 
 SECTION 1.04. Accounting Terms; GAAP.
Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that
the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the
Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be
interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

SECTION 1.05. [Intentionally Omitted] 
 SECTION 1.06. Unrestricted Subsidiaries. The Borrower may, at any time and from time to time, designate any Subsidiary (other than any Significant Subsidiary or any Subsidiary that shall own any
Equity Interests or Indebtedness of the Borrower or any Restricted Subsidiary) as an Unrestricted Subsidiary by delivery of a written notice of such designation to the Administrative Agent; provided that (a) no Default shall exist at the
time of any such designation and (b) after giving effect to such designation, the aggregate assets of all Unrestricted Subsidiaries shall not exceed 15% of Consolidated Assets. The Borrower may, at any time and from time to time, designate any
Unrestricted Subsidiary as a Restricted Subsidiary by delivery of written notice of such designation to the Administrative Agent. If, as of the end of any fiscal quarter, the aggregate combined assets of all Unrestricted Subsidiaries shall exceed
15% of Consolidated Assets, then the Borrower shall, not later than 30 days after the delivery of the certificate referred to in Section 5.01(c) with respect to such fiscal quarter, eliminate such excess by designating one or more Unrestricted
Subsidiaries as Restricted Subsidiaries. 

  
 16 

 ARTICLE II 
 The Credits 
 SECTION 2.01. Commitments. Subject to the terms and
conditions set forth herein, each Lender agrees to make Revolving Loans to the Borrower from time to time during the Availability Period in US Dollars in an aggregate principal amount that will not result in (a) such Lender’s Revolving
Credit Exposure exceeding such Lender’s Commitment or (b) the sum of the total Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans exceeding the total Commitments. Within the foregoing limits and
subject to the terms and conditions set forth herein, the Borrower may borrow, repay and reborrow Revolving Loans. 
 SECTION
2.02. Loans and Borrowings. (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their respective Commitments. Each Competitive Loan shall be made in
accordance with the procedures set forth in Section 2.04. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments and Competitive
Bids of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 
 (b) Subject to Section 2.14, (i) each Revolving Borrowing shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith, and (ii) each
Competitive Borrowing shall be comprised entirely of Eurodollar Loans or Fixed Rate Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any domestic or foreign branch or
Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

(c) At the commencement of each Interest Period for any Eurodollar Revolving Borrowing, such Borrowing shall be in an aggregate amount
that is an integral multiple of $5,000,000 and not less than $25,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $5,000,000 and not less than $25,000,000;
provided that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments. Each Competitive Borrowing shall be in an aggregate amount that is an integral multiple of $5,000,000
and not less than $25,000,000. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time be more than a total of 15 Eurodollar Revolving Borrowings outstanding. 

  
 17 

 (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 
 SECTION 2.03. Requests for Revolving Borrowings. To request a Revolving Borrowing, the Borrower shall notify the Administrative Agent of such request by telephone (a) in the case of a
Eurodollar Borrowing, not later than 12:00 noon, New York City time, three Business Days before the date of the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time on the
Business Day of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or Telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the
Administrative Agent and signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information in compliance with Section 2.02: 

(i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and 

(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period”. 
 If no election as to the Type of Revolving Borrowing is specified,
then the requested Revolving Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Revolving Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the
requested Borrowing. 
 SECTION 2.04. Competitive Bid Procedure. (a) Subject to the terms and conditions set forth
herein, from time to time during the Availability Period the Borrower may request Competitive Bids and may (but shall not have any obligation to) accept Competitive Bids and borrow Competitive Loans; provided that the sum of the total
Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans at any time shall not exceed the total Commitments. To request Competitive Bids, the Borrower shall notify the Administrative Agent of such request by
telephone, in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, four Business Days before the date of the proposed Borrowing and, in the case of a Fixed Rate Borrowing, not later than 11:00 a.m., New York
City time, one Business Day before the date of the proposed Borrowing; provided that the Borrower may submit up to (but not more than) five Competitive Bid Requests on the same day, but a Competitive Bid Request shall not be made within five
Business Days after the date of any previous Competitive Bid Request, unless any and all such previous Competitive Bid Requests shall have been withdrawn or all Competitive Bids received in response thereto rejected. Each

  
 18 

 
such telephonic Competitive Bid Request shall be confirmed promptly by hand delivery or Telecopy to the Administrative Agent of a written Competitive Bid Request in a form approved by the
Administrative Agent and signed by the Borrower. Each such telephonic and written Competitive Bid Request shall specify the following information in compliance with Section 2.02: 

(i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) whether such Borrowing is to be a Eurodollar Borrowing or a Fixed Rate Borrowing; 

(iv) the Interest Period to be applicable to such Borrowing, which shall be a period contemplated by the definition of the
term “Interest Period”; and 
 (v) the location and number of the Borrower’s account to which
funds are to be disbursed, which shall comply with the requirements of Section 2.07. 
 Promptly following receipt of a Competitive Bid
Request in accordance with this Section, the Administrative Agent shall notify the Lenders of the details thereof by Telecopy, inviting the Lenders to submit Competitive Bids. 
 (b) Each Lender may (but shall not have any obligation to) make one or more Competitive Bids to the Borrower in response to a Competitive Bid Request. Each Competitive Bid by a Lender must be in a form
approved by the Administrative Agent and must be received by the Administrative Agent by Telecopy, in the case of a Eurodollar Competitive Borrowing, not later than 10:00 a.m., New York City time, three Business Days before the proposed
date of such Competitive Borrowing, and in the case of a Fixed Rate Borrowing, not later than 10:00 a.m., New York City time, on the proposed date of such Competitive Borrowing. Competitive Bids that do not conform substantially to the
form approved by the Administrative Agent may be rejected by the Administrative Agent, and the Administrative Agent shall notify the applicable Lender as promptly as practicable. Each Competitive Bid shall specify (i) the principal amount
(which shall be a minimum of $5,000,000 and an integral multiple of $1,000,000 and which may equal the entire principal amount of the Competitive Borrowing requested by the Borrower) of the Competitive Loan or Loans that the Lender is willing to
make, (ii) the Competitive Bid Rate or Rates at which the Lender is prepared to make such Loan or Loans (expressed as a percentage rate per annum in the form of a decimal to no more than four decimal places) and (iii) the Interest Period
applicable to each such Loan and the last day thereof. 
 (c) The Administrative Agent shall promptly notify the Borrower by
Telecopy of the Competitive Bid Rate and the principal amount specified in each Competitive Bid and the identity of the Lender that shall have made such Competitive Bid. 
 (d) Subject only to the provisions of this paragraph, the Borrower may accept or reject any Competitive Bid. The Borrower shall notify the Administrative Agent by telephone, confirmed by Telecopy, whether
and to what extent it has decided to accept or reject each Competitive Bid, in the case of a Eurodollar Competitive Borrowing, not later than 11:00 a.m., 

  
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New York City time, three Business Days before the date of the proposed Competitive Borrowing, and in the case of a Fixed Rate Borrowing, not later than 11:00 a.m., New York City
time, on the proposed date of the Competitive Borrowing; provided that (i) the failure of the Borrower to give such notice shall be deemed to be a rejection of each Competitive Bid, (ii) the Borrower shall not accept a Competitive
Bid made at a particular Competitive Bid Rate if the Borrower rejects a Competitive Bid made at a lower Competitive Bid Rate, (iii) the aggregate amount of the Competitive Bids accepted by the Borrower shall not exceed the aggregate amount of
the requested Competitive Borrowing specified in the related Competitive Bid Request, (iv) to the extent necessary to comply with clause (iii) above, the Borrower may accept Competitive Bids at the same Competitive Bid Rate in part, which
acceptance, in the case of multiple Competitive Bids at such Competitive Bid Rate, shall be made pro rata in accordance with the amount of each such Competitive Bid, and (v) except pursuant to clause (iv) above, no Competitive Bid shall be
accepted for a Competitive Loan unless such Competitive Loan is in a minimum principal amount of $5,000,000 and an integral multiple of $1,000,000; provided further that if a Competitive Loan must be in an amount less than $5,000,000 because
of the provisions of clause (iv) above, such Competitive Loan may be for a minimum of $1,000,000 or any integral multiple thereof, and in calculating the pro rata allocation of acceptances of portions of multiple Competitive Bids at a
particular Competitive Bid Rate pursuant to clause (iv) the amounts shall be rounded to integral multiples of $1,000,000 in a manner determined by the Borrower. A notice given by the Borrower pursuant to this paragraph shall be irrevocable.

 (e) The Administrative Agent shall promptly notify each bidding Lender by Telecopy whether or not its Competitive Bid has been
accepted (and, if so, the amount and Competitive Bid Rate so accepted), and each successful bidder will thereupon become bound, subject to the terms and conditions hereof, to make the Competitive Loan in respect of which its Competitive Bid has been
accepted. 
 (f) If the Administrative Agent shall elect to submit a Competitive Bid in its capacity as a Lender, it shall submit
such Competitive Bid directly to the Borrower at least one quarter of an hour earlier than the time by which the other Lenders are required to submit their Competitive Bids to the Administrative Agent pursuant to paragraph (b) of this Section.

 SECTION 2.05. [Intentionally Omitted] 
 SECTION 2.06. [Intentionally Omitted] 
 SECTION 2.07. Funding of
Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds by 12:00 noon, New York City time, to the account of the Administrative Agent most
recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to the Designated Payment Account. 

(b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any 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

  
 20 

 
paragraph (a) of this Section and may, in reliance upon such assumption, make available to the 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 Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and
including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at the Federal Funds Effective Rate. If such Lender pays such amount to the Administrative Agent, then such amount
shall constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.08. Interest Elections. (a) Each
Revolving Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing Request or as otherwise
provided in Section 2.03. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurodollar Revolving Borrowing, may elect Interest Periods therefor, all as provided
in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the
Loans comprising each such portion shall be considered a separate Borrowing. This Section shall not apply to Competitive Borrowings, which may not be converted or continued. 
 (b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election by telephone by the time that a Borrowing Request would be required under
Section 2.03 if the Borrower were requesting a Revolving Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such telephonic Interest Election Request shall be irrevocable and shall be
confirmed promptly by hand delivery or Telecopy to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by the Borrower. 

(c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section 2.02:

 (i) the Borrowing to which such Interest Election Request applies and, if different options are being elected
with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting
Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request, which
shall be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and 
 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable
thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

  
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 If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest
Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. 
 (d) Promptly
following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Revolving Borrowing prior to the end
of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event
of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Revolving Borrowing may be converted
to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Revolving Borrowing shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 

SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously terminated, the Commitments shall terminate on
the Termination Date. 
 (b) The Borrower may at any time terminate, or from time to time reduce, the Commitments;
provided that (i) each reduction of the Commitments shall be in an amount that is an integral multiple of $5,000,000 and not less than $25,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving
effect to any concurrent prepayment of the Loans in accordance with Section 2.11, the sum of the Revolving Credit Exposures plus the aggregate principal amount of outstanding Competitive Loans would exceed the total Commitments. 

(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of
this Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the
Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned
upon the effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or
reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. 
 SECTION 2.10. Repayment of Loans; Evidence of Debt; Extension of Maturity Date. (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent for the
account of each Lender the then unpaid principal amount of each Revolving Loan on the Maturity Date and (ii) to the Administrative Agent for the account of each Lender the then unpaid principal amount of each Competitive Loan on the last day of
the Interest Period applicable to such Loan. 

  
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 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class
and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by
the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
 (d) The entries made
in the accounts maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein; provided that the failure of any Lender or the
Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 

(e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall prepare, execute and
deliver to such Lender a promissory note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form reasonably approved by the Administrative Agent. Thereafter, the Loans evidenced
by such promissory note and interest thereon shall at all times (including after assignment pursuant to Section 10.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such
promissory note is a registered note, to such payee and its registered assigns). 
 (f) The Borrower may, by notice to the
Administrative Agent (which shall promptly deliver a copy to each of the Lenders) given not less than 45 days and not more than 60 days prior to the Termination Date, extend the Maturity Date to a date not later than the first anniversary of the
Termination Date; provided that any such extension of the Maturity Date shall be subject to the satisfaction, on and as of the Termination Date, of the following conditions: 

(i) the representations and warranties of the Borrower set forth in Article III (other than those set forth in
Sections 3.04(b), 3.06, 3.09 and 3.10) shall be true and correct in all material respects on and as of the Termination Date; and 
 (ii) immediately before and after the Termination Date, no Event of Default shall have occurred and be continuing. 
 An extension of the Maturity Date as set forth herein shall be deemed to constitute a representation and warranty by the Borrower on and as of the Termination Date as to the matters specified in
paragraphs (i) and (ii) of this Section 2.10(f). Loans repaid or prepaid after the Termination Date may not be reborrowed. 

  
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 SECTION 2.11. Prepayment of Loans. (a) The Borrower shall have the right at any
time and from time to time to prepay or repay any Borrowing in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section; provided that the Borrower shall not have the right to prepay any Competitive Loan
without the prior consent of the Lender thereof. 
 (b) In the event and on each occasion that the sum of the Revolving Credit
Exposures exceeds the sum of the Commitments, the Borrower shall not later than the next Business Day prepay Revolving Borrowings in an aggregate amount equal to such excess. 
 (c) The Borrower shall notify the Administrative Agent by telephone (confirmed by Telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Revolving Borrowing, not later
than 11:00 a.m., New York City time, three Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of
prepayment; provided that in the case of any prepayment required to be made within one Business Day under paragraph (b) above the Borrower will give such notice as soon as practicable. Each such notice shall be irrevocable and shall
specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as
contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating to a Revolving Borrowing, the
Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as provided
in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13 and payments, if
any, pursuant to Section 2.16. 
 SECTION 2.12. Fees. (a) The Borrower agrees to pay to the Administrative
Agent for the account of each Lender a commitment fee, which shall accrue at the Applicable Commitment Fee Rate on the average daily unused amount of the Commitment of such Lender during the period from and including the date of this Agreement to
but excluding the date on which such Commitment terminates. Accrued commitment fees shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the
first such date to occur after the date hereof. All commitment fees shall be computed on the basis of a year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day).

 (b) On the Termination Date, the Borrower agrees to pay to the Administrative Agent for the account of each Lender a term-out
fee equal to 1.0% of the outstanding amount of such Lender’s Loans that are not repaid on the Termination Date. 
 (c) The
Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 

  
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 (d) All fees payable hereunder shall be paid on the dates due, in immediately available
funds, to the Administrative Agent for distribution, in the case of commitment fees and participation fees, to the Lenders. Fees paid shall not be refundable under any circumstances. 

SECTION 2.13. Interest. (a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate plus
the Applicable Margin. 
 (b) The Loans comprising each Eurodollar Borrowing shall bear interest (i) in the case of a
Eurodollar Revolving Loan, at the Adjusted LIBO Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin, or (ii) in the case of a Eurodollar Competitive Loan, at the LIBO Rate for the Interest Period in effect for
such Borrowing plus (or minus, as applicable) the Margin applicable to such Loan. 
 (c) Each Fixed Rate Loan shall bear interest
at the Fixed Rate applicable to such Loan. 
 (d) Notwithstanding the foregoing, if any principal of or interest on any Loan or
any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to
(i) in the case of overdue principal of any Loan, 2% per annum plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2% per annum plus the
rate applicable to ABR Loans as provided in paragraph (a) of this Section. 
 (e) Accrued interest on each Loan shall be
payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (d) of this Section shall be payable
on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable
on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Revolving Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date
of such conversion. 
 (f) All interest hereunder shall be computed on the basis of a year of 360 days, except that interest
computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the
actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive
absent manifest error. 
 SECTION 2.14. Alternate Rate of Interest. If prior to the commencement of any Interest Period
for a Eurodollar Borrowing: 
 (a) the Administrative Agent determines (which determination shall be conclusive
absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or 

  
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 (b) the Administrative Agent is advised by the Required Lenders (or, in the
case of a Eurodollar Competitive Loan, the Lender that is required to make such Loan) that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender)
of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period; 
 then the Administrative Agent shall
give notice thereof to the Borrower and the Lenders by telephone or Telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist, (i) any Interest Election Request that requests the conversion of any Revolving Borrowing to, or continuation of any Revolving Borrowing as, a Eurodollar Borrowing shall be ineffective and (ii) if any Borrowing Request requests a
Eurodollar Revolving Borrowing, such Borrowing shall be made as an ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted.

 SECTION 2.15. Increased Costs. (a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit or similar requirement against assets of, deposits with
or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate); or 
 (ii) impose on any Lender or the London interbank market any other condition affecting this Agreement or Eurodollar Loans or Fixed Rate Loans made by such Lender; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan or Fixed Rate Loan (or
of maintaining its obligation to make any such Loan) by an amount deemed by that Lender in good faith to be material, then the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender for such additional
costs incurred or reduction suffered. 
 (b) If any Lender determines that any Change in Law regarding capital requirements has
or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender to a level below that which
such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy), in each
case by an amount deemed by that Lender in good faith to be material, then from time to time the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender’s holding company for any such
reduction suffered. 

  
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 (c) A certificate of a Lender setting forth the amount or amounts necessary to compensate
such Lender or its holding company as specified in paragraph (a) or (b) of this Section and setting forth the basis for the determination thereof, together with supporting calculations, shall be delivered to the Borrower and shall be
conclusive absent manifest error. In determining such amount or amounts, such Lender shall act reasonably and in good faith, and may use any reasonable averaging and attribution methods. The Borrower shall pay such Lender the amount shown as due on
any such certificate within 10 Business Days after receipt thereof. 
 (d) Failure or delay on the part of any Lender to
demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for any
increased costs or reductions incurred more than 90 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation
therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 90-day period referred to above shall be extended to include the period of retroactive effect thereof.

 (e) Notwithstanding the foregoing provisions of this Section, a Lender shall not be entitled to compensation pursuant to this
Section in respect of any Competitive Loan if the Change in Law that would otherwise entitle it to such compensation shall have been publicly announced prior to submission of the Competitive Bid pursuant to which such Loan was made. 

SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan or Fixed Rate
Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto,
(c) the failure to borrow, convert, continue or prepay any Eurodollar Loan or Fixed Rate Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(c) and is
revoked in accordance therewith), (d) the failure to borrow any Competitive Loan after accepting the Competitive Bid to make such Loan, or (e) the assignment of any Eurodollar Loan or Fixed Rate Loan other than on the last day of the
Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each affected Lender for the loss, cost and expense attributable to such event (which
loss, cost or expense will not be deemed to include lost profit). In the case of a Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the
amount of interest which would have accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate (without adding thereto the Applicable Margin) that would have been applicable to such Loan, for the period from
the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of
interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for US Dollar deposits of a comparable amount and period from other banks in
the eurodollar market. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section and setting forth the basis for the determination thereof, together with supporting calculations,
shall be delivered to the Borrower and shall be conclusive absent manifest error. In determining such amount or amounts, such Lender shall act reasonably and in good faith. The Borrower shall pay such Lender the amount shown as due on any such
certificate within 10 Business Days after receipt thereof. 

  
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 SECTION 2.17. Taxes. (a) Any and all payments by or on account of any obligation
of the Borrower hereunder shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such payments, then
(i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent or Lender (as the case may be) receives an
amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the relevant Governmental Authority in accordance
with applicable law. 
 (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in
accordance with applicable law. 
 (c) The Borrower shall indemnify the Administrative Agent and each Lender within
10 Business Days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any
obligation of the Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect
thereto, whether or not such Indemnified Taxes or Other 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 the Borrower and setting
forth the basis for the determination thereof, by a Lender or by the Administrative Agent on its own behalf or on behalf of a Lender shall be conclusive absent manifest error. 
 (d) Each Lender shall severally indemnify the Administrative Agent for any Taxes (but, in the case of any Indemnified Taxes, only to the extent that the Borrower has not already indemnified the
Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Borrower to do so) attributable to such Lender that are paid or payable by the Administrative Agent in connection with this Agreement 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. The indemnity under this Section 2.17(d) shall be paid within 10 Business Days
after the Administrative Agent delivers to the applicable Lender a certificate stating the amount of Taxes so paid or payable by the Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent manifest error.

 (e) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to a Governmental Authority,
the Borrower 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 that portion of the tax return reporting such payment or other evidence of
such payment reasonably satisfactory to the Administrative Agent. 

  
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 (f) (i) Any Foreign Lender that is entitled to an exemption from or reduction of withholding
tax under the law of the jurisdiction in which the Borrower is located, or any treaty to which such jurisdiction is a party, with respect to payments under this Agreement shall deliver to the Borrower (with a copy to the Administrative Agent), at
the time or times prescribed by applicable law, such properly completed and executed documentation prescribed by applicable law or reasonably requested by the Borrower as will permit such payments to be made without withholding or at a reduced rate.
In addition, any Lender, if requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the
Administrative Agent to determine whether or not such Lender is subject to any withholding (including 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 set forth in Section 2.17(f)(ii)(A) through (E) below) shall not be required if in the Lender’s 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. Upon the reasonable request of the Borrower or the Administrative Agent, any Lender shall update any form
or certification previously delivered pursuant to this Section 2.17(f). If any form or certification previously delivered pursuant to this Section expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such
Lender shall promptly (and in any event within 10 Business Days after such expiration, obsolescence or inaccuracy) notify the Borrower and the Administrative Agent in writing of such expiration, obsolescence or inaccuracy and update the form or
certification if it is legally eligible to do so. 
 (ii) Without limiting the generality of the foregoing, if
the Borrower is a U.S. Person, any Lender with respect to the Borrower shall, if it is legally eligible to do so, deliver to the Borrower and the Administrative Agent (in such number of copies reasonably requested by the Borrower and the
Administrative Agent) on or prior to the date on which such Lender becomes a party hereto, duly completed and executed copies of whichever of the following is applicable: 

(A) in the case of a Lender that is a U.S. Person, IRS Form W-9 certifying that such Lender is exempt from
U.S. Federal backup withholding tax; 
 (B) in the case of a Foreign Lender claiming the benefits of an
income tax treaty to which the United States is a party (1) with respect to payments of interest under this Agreement, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. Federal withholding Tax pursuant to the
“interest” article of such tax treaty and (2) with respect to any other applicable payments under this Agreement, IRS Form W-8BEN 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; 
 (C) in the case of a
Foreign Lender for whom payments under this Agreement constitute income that is effectively connected with such Lender’s conduct of a trade or business in the United States, IRS Form W-8ECI; 

  
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 (D) in the case of a Foreign Lender claiming the benefits of the exemption
for portfolio interest under Section 881(c) of the Code both (1) IRS Form W-8BEN and (2) a certificate substantially in the form of Exhibit E (a “U.S. Tax Certificate”) to the effect that such Lender is not
(a) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (b) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code (c) a “controlled foreign
corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a trade or business in the United States with which the relevant interest payments are effectively connected; 

(E) in the case of a Foreign Lender that is not the beneficial owner of payments made under this Agreement (including
a partnership or a participating Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) the relevant forms prescribed in clauses (A), (B), (C), (D) and (F) of this paragraph (f)(ii) that would be required
of each such beneficial owner or partner of such partnership if such beneficial owner or partner were a Lender; provided, however, that if the Lender is a partnership and one or more of its partners are claiming the exemption for
portfolio interest under Section 881(c) of the Code, such Lender may provide a U.S. Tax Certificate on behalf of such partners; or 
 (F) any other form prescribed by law as a basis for claiming exemption from, or a reduction of, U.S. Federal withholding Tax together with such supplementary documentation necessary to enable the
Borrower or the Administrative Agent to determine the amount of Tax (if any) required by law to be withheld. 

(iii) If a payment made to a Lender under this Agreement 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 Borrower and the
Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower and 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 Borrower and the Administrative Agent, as may be necessary for the Borrower and the Administrative Agent, to comply with its obligations under
FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.17(f)(iii),
“FATCA” shall include any amendments made to FATCA after the date of this Agreement. 
 (g) If the Administrative
Agent or a Lender determines that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this Section, it shall pay over
such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this Section with respect to the Taxes or Other Taxes giving rise to such refund), net of all reasonable out-of-pocket
expenses of the Administrative Agent or such Lender and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund) within thirty days; provided, that the Borrower, upon the request of
the Administrative Agent or such Lender, agrees to repay the 

  
 30 

 
amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event such Agent
or such Lender is required to repay such refund to such Governmental Authority. This Section shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes
which it deems confidential) to the Borrower or any other Person. 
 SECTION 2.18. Payments Generally; Pro Rata Treatment;
Sharing of Set-offs. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 2:00 p.m.,
New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on
the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices at 270 Park Avenue, New York, New York, except that payments pursuant to Sections
2.15, 2.16, 2.17 and 10.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt
thereof. If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for
the period of such extension. All payments hereunder shall be made in US Dollars except as expressly provided herein. 
 (b) If
at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards 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, towards payment of principal then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of principal then due to such parties. 
 (c) If any Lender shall, by exercising any right
of set-off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Revolving Loans and
accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Revolving Loans of other Lenders to the extent necessary 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 Revolving Loans; provided that (i) the provisions of this
paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower 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 the Borrower rights of set-off and counterclaim with respect to such participation as fully
as if such Lender were a direct creditor of the Borrower in the amount of such participation. 

  
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 (d) Unless the Administrative Agent shall have received notice from the Borrower prior to
the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender 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 greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 
 (e) If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.07(b) or 2.18(d), then the Administrative Agent may, in its discretion (notwithstanding any contrary
provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender requests compensation under
Section 2.15, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a
different lending office for funding or booking its Loans hereunder or to assign and delegate its rights and obligations hereunder to another of its offices, branches or Affiliates, if, in the judgment of such Lender, such designation or assignment
and delegation (i) would eliminate or reduce amounts payable pursuant to Section 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment and delegation. 

(b) If any Lender requests compensation under Section 2.15, or if the Borrower is required to pay any additional amount to any Lender
or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or if any Lender becomes a Defaulting Lender, then the Borrower 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 Section 10.04), all its interests, rights and obligations under this Agreement (other than any outstanding Competitive
Loans held by it) to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall have received the prior written consent of the
Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans (other than Competitive Loans), accrued interest thereon, accrued
fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal 

  
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and accrued interest and fees) or the Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.15
or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments. Each party hereto agrees that an assignment and delegation required pursuant to this paragraph may be
effected pursuant to an Assignment and Assumption executed by the Borrower, the Administrative Agent and the assignee and that the Lender required to make such assignment and delegation need not be a party thereto. 

SECTION 2.20. Defaulting Lenders. (a) Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes
a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (i) the commitment fee shall cease to accrue on the unused amount of the Commitment of such Defaulting Lender pursuant to Section 2.12(a); and 

(ii) the Commitment and Revolving Credit Exposure of such Defaulting Lender shall not be included in determining whether
the Required Lenders or any other requisite Lenders have taken or may take any action hereunder or under any related agreement or any document furnished hereunder (including any consent to any amendment, waiver or other modification pursuant to
Section 10.02); provided that any amendment, waiver or other modification requiring the consent of all Lenders or all Lenders affected thereby shall, except as otherwise provided in Section 10.02, require the consent of such
Defaulting Lender in accordance with the terms hereof. 
 (b) In the event that the Administrative Agent and the Borrower each
agree that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Revolving Credit Exposure of the Lenders shall be readjusted to reflect the inclusion of such Lender’s Commitment and
on such date such Lender shall purchase at par such of the Revolving Loans of the other Lenders as the Administrative Agent shall determine may be necessary in order for such Lender to hold such Loans in accordance with its Applicable Percentage.

 ARTICLE III 
 Representations and Warranties 
 The Borrower represents and warrants to
the Lenders that: 
 SECTION 3.01. Organization; Powers. The Borrower and the Guarantor is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its organization. Each Significant Subsidiary is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, in each case except
where the failure to be so organized, existing or in good standing will not be reasonably likely to have a Material Adverse Effect. The Borrower and each Restricted Subsidiary has all requisite power and authority to carry on its business as now
conducted and is duly qualified to transact business in all jurisdictions where such qualification is necessary, in each case except where the failure to have such authority, or to be so qualified will not be reasonably likely to have a Material
Adverse Effect. 

  
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 SECTION 3.02. Authorization; Enforceability. The Transactions to be entered into by
each Loan Party are within such Loan Party’s corporate powers and have been duly authorized by all necessary corporate and stockholder action. This Agreement has been duly executed and delivered by each Loan Party and constitutes a legal, valid
and binding obligation of each Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles
of equity, regardless of whether considered in a proceeding in equity or at law. 
 SECTION 3.03. 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 and
(b) will not violate, or constitute a default under, any provision of applicable law or regulation or the charter, by-laws or other organizational documents of the Borrower or any of the Restricted Subsidiaries or any order of any Governmental
Authority or any indenture, any material agreement, instrument, judgment or order to which the Borrower or any Restricted Subsidiary is a party or by which it or any of its material assets or properties may be bound or affected which would be
reasonably likely to have a Material Adverse Effect. 
 SECTION 3.04. Financial Condition; No Material Adverse Change.
(a) The Borrower has heretofore furnished to the Lenders its consolidated balance sheet and statements of income, stockholders equity and cash flows (i) as of and for the fiscal year ended December 31, 2010, reported on by
Deloitte & Touche LLP, and (ii) as of and for the fiscal quarter and the portion of the fiscal year ended June 30, 2011. Such financial statements present fairly, in all material respects, the financial position and results of
operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP and, in the case of the statements referred to in clause (ii) above, subject to year-end audit adjustments
and the absence of footnotes. 
 (b) Since December 31, 2010, other than as specifically disclosed in the Borrower’s
filings with the Securities and Exchange Commission, there has been no event or condition that would be reasonably likely to result in a material adverse effect on the business, assets, operations or condition, financial or otherwise, of the
Borrower and the Subsidiaries taken as a whole. 
 SECTION 3.05. Properties. The Borrower and its Subsidiaries have
sufficient title to, or sufficient and valid interests in, their respective properties to conduct their business as currently conducted, except where the failure to have such title or interests will not be reasonably likely to result in a Material
Adverse Effect. 

  
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 SECTION 3.06. Litigation and Environmental Matters. Other than as specifically
disclosed in the Borrower’s filings with the Securities and Exchange Commission: 
 (a) There are no actions, suits or
proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the Borrower or any of its Restricted Subsidiaries (i) as to which there is a reasonable
possibility of an adverse determination and that, if adversely determined, would be reasonably likely, individually or in the aggregate, to result in a Material Adverse Effect or (ii) that involve this Agreement or the Transactions. 

(b) The financial statements described in Section 3.04 provide certain information regarding the current and potential obligations
arising from various consent decrees, cleanup and abatement orders, and current or potential proceedings pertaining to actual or alleged soil and water contamination, disposal of hazardous wastes, and other environmental matters related to
properties currently owned by the Borrower or its Restricted Subsidiaries, previously owned properties, and other properties. Since December 31, 2010, environmental matters have not caused any material adverse change in the consolidated
financial condition of the Borrower and its consolidated Subsidiaries from that shown by the financial statements prepared as of that date. 
 (c) In the ordinary course of business, the ongoing operations of the Borrower and its Restricted Subsidiaries are reviewed from time to time to determine compliance with applicable Environmental Laws.
Based on these reviews, to the knowledge of the Borrower, ongoing operations at the principal properties of the Borrower and its Restricted Subsidiaries are currently being conducted in substantial compliance with applicable Environmental Laws
except to the extent noncompliance would not be reasonably likely to result in material adverse change in the consolidated financial condition of the Borrower and its consolidated Subsidiaries. 

SECTION 3.07. No Defaults. There are no Material Payment Defaults of the Borrower and its Restricted Subsidiaries under Funded
Debt Agreements, other than Funded Debt Agreements governing an aggregate principal amount of Funded Debt which is not in excess of $150,000,000. 
 SECTION 3.08. Investment and Holding Company Status. Neither the Borrower nor any of its Subsidiaries is an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940. 
 SECTION 3.09. Taxes. The Borrower and each Subsidiary has timely filed or caused to be
filed all Tax returns and reports required to have been filed 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
Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so would not be reasonably likely to result in a Material Adverse Effect. 

SECTION 3.10. ERISA. Each member of the ERISA Group has fulfilled its obligations under the minimum funding standards of ERISA and
the Code with respect to each Plan and is in substantial compliance in all material respects with the presently applicable material provisions of ERISA and the Code with respect to each Plan. No member of the ERISA Group has (i) sought a waiver
of the minimum funding standard under Section 412 of the Code in respect of any Plan, (ii) failed to make any contribution or payment to any Plan or 

  
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Multiemployer Plan or made any amendment to any Plan which, in either case has resulted or could result in the imposition of a material Lien or the posting of a material bond or other material
security under ERISA or the Code or (iii) incurred any material liability under Title IV of ERISA other than a liability to the PBGC for premiums under Section 4007 of ERISA. 

SECTION 3.11. Disclosure. All information furnished to the Administrative Agent and the Lenders in writing prior to the date
hereof in connection with the Transactions (including any formal presentation slides, and in each case as modified or supplemented by other information furnished to the Administrative Agent or the Lenders) does not contain any material misstatement
of fact or omit 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, with respect to any projected financial information, the
Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. 
 SECTION 3.12. Use of Proceeds. The Borrower will use the proceeds of the Loans for general corporate purposes of the Borrower and the Subsidiaries (which may include the repayment of debt,
repurchase or redemption of the Borrower’s common stock, working capital needs, capital expenditures, acquisitions and any other general corporate purpose). 
 SECTION 3.13. Margin Stock. No proceeds of any Loan will be used in a manner that violates any provision of Regulation U or X of the Board. 

SECTION 3.14. Pari Passu Obligations. Under applicable United States laws (including state and local laws) in force at the date
hereof, the claims and rights of the Lenders and the Administrative Agent against the Borrower under this Agreement will not be subordinate to, and will rank at least pari passu with, the claims and rights of any other unsecured
creditors of the Borrower (except to the extent provided by bankruptcy, reorganization, insolvency, moratorium or other similar laws of general application relating to or affecting the enforcement of creditors’ rights and by general principles
of equity). 
 ARTICLE IV 
 Conditions 
 SECTION 4.01. Effective Date. This 364-Day Credit
Agreement shall become effective on the date on which the following conditions have been satisfied (or waived in accordance with Section 10.02) (the “Effective Date”): 

(a) The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of
this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include Telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart of
this Agreement. 

  
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 (b) The Administrative Agent shall have received favorable written opinions
(addressed to the Administrative Agent and the Lenders and dated the Effective Date) of (i) Sheppard, Mullin, Richter & Hampton LLP, counsel for the Borrower, substantially in the form of Exhibit B-1, and (ii) Jennifer C.
McGarey, Esq., Corporate Vice President and Secretary, substantially in the form of Exhibit B-2. The Borrower hereby requests such counsel to deliver such opinions. 

(c) The Administrative Agent shall have received such documents and certificates as the Administrative Agent or its
counsel may reasonably request relating to the organization, existence and good standing of each Loan Party, the authorization of the Transactions and any other legal matters relating to the Loan Parties, this Agreement or the Transactions, all in
form and substance satisfactory to the Administrative Agent and its counsel. 
 (d) The representations and
warranties of the Borrower set forth in Article III shall be true and correct in all material respects, and no Default shall have occurred and be continuing. 
 (e) The Administrative Agent shall have received all fees and other amounts due and payable on or prior to the Effective Date, including, to the extent invoiced, reimbursement of all out-of-pocket
expenses required to be reimbursed by the Borrower hereunder. 
 (f) The Existing Credit Agreement shall have
been amended and restated in the form of the 5-Year Credit Agreement simultaneously with the execution of this Agreement. 
 (g) The Lenders shall have received all documentation and other information required by bank regulatory authorities under applicable “know your customer” and anti-money laundering rules and
regulations, including the USA PATRIOT Act. 
 The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and
such notice shall be conclusive and binding upon all parties hereto and following such notice, none of the conditions set forth in this Section 4.01 shall be of further application. 

SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of any Borrowing is subject to the
satisfaction of the following conditions: 
 (a) The representations and warranties of the Borrower set forth in
Article III (other than Sections 3.04(b), 3.06, 3.09 and 3.10) shall be true and correct in all material respects on and as of the date of such Borrowing. 

(b) At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be
continuing. 
 Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters
specified in paragraphs (a) and (b) of this Section. 

  
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 ARTICLE V 
 Affirmative Covenants 
 Until the Commitments have expired or been
terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION 5.01. Financial Statements and Other Information. The Borrower will furnish to the Administrative Agent for distribution to each Lender: 

(a) within 90 days after the end of each fiscal year of the Borrower, its audited consolidated balance sheet and related
statements of operations, stockholders’ equity and cash flows as of the end of and for such year, accompanied by an opinion of Deloitte & Touche LLP or other independent public accountants of recognized national standing as to such
consolidated financial statements; 
 (b) within 45 days after the end of each of the first three fiscal
quarters of each fiscal year of the Borrower, 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;

 (c) within 105 days following the end of each fiscal year of the Borrower, and within 60 days
following the end of each of the first three fiscal quarters of each fiscal year of the Borrower, a certificate of a Financial Officer of the Borrower (i) certifying as to whether a Default has occurred, (ii) setting forth reasonably
detailed calculations demonstrating compliance with Section 6.03 as of the date of the consolidated balance sheet of the Borrower included in such financial statements and (iii) setting forth a reasonably detailed calculation of the
aggregate combined assets of all Unrestricted Subsidiaries as of the date of the consolidated balance sheet of the Borrower included in such financial statements; 

(d) promptly after the same become publicly available, copies of all periodic and other reports and proxy statements filed
by the Borrower or any Subsidiary with the Securities and Exchange Commission or any Governmental Authority succeeding to any or all of the functions of said Commission, or with any national securities exchange, or distributed by the Borrower to its
shareholders generally, as the case may be; and 
 (e) promptly following any request therefor, subject to
restrictions imposed by any Governmental Authority, such other existing information regarding the business and financial condition of the Borrower and its Subsidiaries as any Lender may request through the Administrative Agent. 

Information required to be delivered pursuant to paragraphs (a), (b) or (d) of this Section shall be deemed to have been
delivered to each Lender on the date on which the Borrower posts such reports on the Borrower’s website at http://www.northropgrumman.com or when such report is posted on the website of the Securities and Exchange Commission at
http://www.sec.gov. Information required to be delivered pursuant to this Section may also be delivered by electronic communications pursuant to procedures approved by the Administrative Agent. 

  
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 SECTION 5.02. Notices of Material Events. The Borrower will furnish to the
Administrative Agent and each Lender prompt written notice of the following: 
 (a) the occurrence of any
Default; and 
 (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or
Governmental Authority against or affecting the Borrower or any Restricted Subsidiary that is reasonably likely to result in a Material Adverse Effect. 
 Each notice delivered under this Section shall be accompanied by a statement of a Financial Officer or other executive officer of the Borrower setting forth the details of the event or development
requiring such notice and any action taken or proposed to be taken with respect thereto. 
 SECTION 5.03. Existence; Conduct
of Business. The Borrower will, and will cause each of the Restricted Subsidiaries to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits,
privileges and franchises material to the conduct of its business, provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.02. Nothing herein contained shall prevent the
termination of the business or existence of any Subsidiary which in the judgment of the Borrower is no longer necessary or desirable, a merger or consolidation of a Subsidiary into or with the Borrower (if the Borrower is the surviving corporation)
or any Restricted Subsidiary, the sale of any Subsidiary if in the judgment of the Borrower such sale is in the interest of the Borrower, or any merger, consolidation or transfer of assets not prohibited by Section 6.02, so long as immediately
after giving effect to any such transaction, no Default shall have occurred and be continuing. 
 SECTION 5.04. Payment of
Obligations. The Borrower will pay and discharge, and will cause each Restricted Subsidiary to pay and discharge, all material Taxes, assessments and governmental charges or levies imposed upon it or upon its income or profits, or upon any
property belonging to it, prior to the date on which penalties attach thereto, and all lawful material claims which, if unpaid, might become a Lien upon the property of the Borrower or such Restricted Subsidiary; provided that neither the
Borrower nor any such Restricted Subsidiary shall be required to pay any such Tax, assessment, charge, levy or claim (i) the payment of which is being contested in good faith and by proper proceedings, (ii) not yet delinquent or
(iii) the non-payment of which, if taken in the aggregate, would not be reasonably likely to result in a Material Adverse Effect. 
 SECTION 5.05. Insurance. The Borrower will, and will cause each of the Restricted Subsidiaries to 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 or, to the customary extent, self-insurance. 

  
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 SECTION 5.06. Inspection Rights. The Borrower will, and will cause each of the
Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice and subject to restrictions imposed by any Governmental Authority and customer confidentiality agreements, and during
normal business hours, to visit and inspect its major properties and to examine its books and records, all at such reasonable times and as often as reasonably requested, provided that the exercise of rights under this Section shall not unreasonably
interfere with the business of the Borrower and its Subsidiaries. 
 SECTION 5.07. Compliance with Laws. The Borrower
will, and will cause each of the Restricted Subsidiaries to, comply with all laws, rules, regulations and lawful orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the
aggregate, would not be reasonably likely to result in a Material Adverse Effect. 
 SECTION 5.08. Incorporation by
Reference. If and for so long as any Capital Markets Agreement evidencing or governing Capital Markets Debt in respect of which the Borrower or any Person which is then a Guarantor is the primary obligor or a guarantor contains any covenant
limiting Indebtedness of Subsidiaries (other than any financial ratio covenant limiting consolidated Indebtedness of the Borrower and not limiting Indebtedness of Subsidiaries to a greater extent than Indebtedness of the Borrower), such covenant
shall automatically be, and hereby is, incorporated by reference into this Article V in its entirety as in effect from time to time, mutatis mutandis, with the same effect as if set forth in full herein (and subject to any applicable
periods of grace or cure which are applied thereto in the relevant Capital Markets Agreement), with the defined terms used therein, including defined terms used in other defined terms, having the meanings assigned to them in such Capital Markets
Agreement, but with references in such covenant or in the definitions employed therein to such Capital Markets Agreement being deemed references to this Agreement, references to the indebtedness under such Capital Markets Agreement being deemed
references to the Obligations and references to holders of such Capital Markets Debt being deemed references to the Lenders. As of the Effective Date, the only Capital Markets Agreement containing terms incorporated herein by this Section is the
Indenture, dated as of October 15, 1994, between the Northrop Grumman Corporation (now known as Northrop Grumman Systems Corporation) and The Chase Manhattan Bank (National Association), as Trustee (to whom The Bank of New York Mellon is
successor trustee). If any Capital Markets Agreement containing a covenant incorporated herein by the preceding sentence shall terminate, or if no Capital Markets Debt shall be outstanding thereunder, then such covenant shall be deemed no longer to
be incorporated herein (unless Capital Markets Debt shall again be outstanding under such Capital Markets Agreement, in which case such covenant shall again be incorporated by reference herein). 

  
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 ARTICLE VI 
 Negative Covenants 
 Until the Commitments have expired or terminated and
the principal of and interest on each Loan and all fees payable hereunder have been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION 6.01. Liens. The Borrower will not, and will not permit any Restricted Subsidiary to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter
acquired by it, or assign or sell any income or revenues (including accounts receivable) or rights in respect of any thereof, except: 
 (a) Permitted Encumbrances; 
 (b) any Lien on any property or asset
of the Borrower or any Restricted Subsidiary existing on the date hereof; 
 (c) any Lien 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, whether or not any Indebtedness secured by such Liens is assumed by the Borrower or any Restricted Subsidiary;

 (d) Liens securing Indebtedness of a Restricted Subsidiary owing to the Borrower or another Restricted
Subsidiary; 
 (e) Liens on assets existing at the time of acquisition of such assets by the Borrower or a
Restricted Subsidiary, or Liens to secure the payment of all or any part of the purchase price of assets upon the acquisition of such assets by the Borrower or a Restricted Subsidiary or to secure any Indebtedness incurred or guaranteed by the
Borrower or a Restricted Subsidiary prior to, at the time of, or within one year after the later of the acquisition, completion of construction (including any improvements on an existing asset) or commencement of full operation of such asset, which
Indebtedness is incurred or guaranteed for the purpose of financing all or any part of the purchase price thereof or construction or improvements thereon, and which Indebtedness may be in the form of obligations incurred in connection with
industrial revenue bonds or similar financings and letters of credit, bank guarantees, surety bonds or similar contingent liability instruments issued in connection therewith; provided, however, that in the case of any such
acquisition, construction or improvement, the Lien shall not apply to any asset theretofore owned by the Borrower or a Restricted Subsidiary, other than, in the case of any such construction or improvement, any theretofore unimproved real property
on which the property so constructed or the improvement made is located; 
 (f) Liens created in favor of the
United States of America or any department or agency thereof or any other contracting party or customer in connection with advance or progress payments or similar forms of vendor financing or incentive arrangements; 

  
 41 

 (g) Liens arising by operation of law in favor of any lender to the Borrower
or any Restricted Subsidiary constituting a banker’s lien or right of offset in moneys of the Borrower or a Restricted Subsidiary deposited with such lender in the ordinary course of business; 

(h) Liens on cash or certificates of deposit or other bank obligations in an amount substantially equal in value (at the
time such Liens are created) to, and securing, obligations in respect of letters of credit, bank guarantees, surety bonds or similar contingent liability instruments, incurred in the ordinary course of business; 

(i) Liens securing the Obligations and Liens securing the Obligations and any other Indebtedness of the Borrower and its
Subsidiaries on an equal and ratable basis; 
 (j) any extension, renewal or replacement (or successive
extensions, renewals or replacements) in whole or in part of any Lien referred to in the foregoing; provided, however, that the principal amount of Indebtedness secured thereby shall not exceed the principal amount of Indebtedness so secured at the
time of such extension, renewal or replacement, and that such extension, renewal or replacement shall be limited to all or part of the assets which were the subject of the Lien so extended, renewed or replaced (plus improvements and construction on
such assets); and 
 (k) other Liens securing Indebtedness; provided that the aggregate principal amount
of all Indebtedness of the Borrower and the Subsidiaries that is secured by Liens permitted by this clause (k) shall not exceed at any time the greater of (i) 7.5% of Shareholders’ Equity as of the end of the most recently completed
fiscal quarter and (ii) $1,000,000,000. 
 SECTION 6.02. Fundamental Changes. (a) The Borrower will not
consolidate with or merge into any other Person, or convey or transfer its properties and assets substantially as an entirety to any Person, unless: (i) the Borrower or another solvent corporation that is incorporated under the laws of the
United States, any state thereof or the District of Columbia is the surviving corporation of any such consolidation or merger or is the Person that acquires by conveyance or transfer the properties and assets of the Borrower substantially as an
entirety; (ii) if a Person other than the Borrower is the surviving corporation as described in clause (i) above or is the Person that acquires the property and assets of the Borrower substantially as an entirety, it shall expressly assume
the performance of every obligation and covenant of this Agreement on the part of the Borrower to be performed or observed; (iii) immediately after giving effect to such transaction, no Default shall have occurred and be continuing; and
(iv) if the Borrower is not the surviving or acquiring corporation, the Borrower shall deliver to the Administrative Agent (and, in the case of clause (C) below, each Lender), (A) a certificate of a Financial Officer and an opinion of
its General Counsel, each stating that such transaction complies with this 

  
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Section and that all conditions precedent herein provided for relating to such transaction have been complied with, (B) evidence of authority and legal opinions in respect of the surviving
or acquiring corporation comparable to those delivered under Section 4.01(b) and reasonably satisfactory to it, and (C) all documentation and other information in respect of the surviving or acquiring corporation required by bank
regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the USA PATRIOT Act. 
 (b) Upon any consolidation by the Borrower with, or merger by the Borrower into, any Person described in Section 6.02(a)(i) or any conveyance or transfer of the properties and assets of the Borrower
substantially as an entirety to any Person described in Section 6.02(a)(i), such Person into which the Borrower is merged or consolidated or to which such conveyance or transfer is made shall succeed to, and be substituted for, and may exercise
every right and power of the Borrower under this Agreement with the same effect as if such Person had been named as the Borrower herein, and thereafter, in the case of a transfer or conveyance permitted by Section 6.02(a), the Borrower shall be
relieved of all obligations and covenants under this Agreement. 
 SECTION 6.03. Consolidated Debt to Capitalization
Ratio. The Borrower will not permit the ratio of (i) Consolidated Debt to (ii) the sum of Consolidated Debt and Shareholders’ Equity as of the last day of any fiscal quarter to exceed 65.0%. 

ARTICLE VII 

Events of Default 
 If any of the following events (“Events of Default”) shall occur: 
 (a) the Borrower shall fail to pay any principal of any Loan when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;

 (b) the Borrower shall fail to pay any interest on any Loan or any fee payable under this Agreement, when and
as the same shall become due and payable, and such failure shall continue unremedied for a period of 5 days after written notice thereof shall have been given to the Borrower by the Administrative Agent; 

(c) the Borrower shall fail to pay within 30 days after written request for payment by any Lender acting through the
Administrative Agent any other amount (other than an amount referred to in clause (a) or (b) of this Article) payable under this Agreement; 
 (d) any representation or warranty made by the Borrower or the Guarantor in Article III of this Agreement or any certificate or writing furnished pursuant to this Agreement shall prove to have been
incorrect in any material respect when made and the facts and circumstances giving rise to such deficiency shall remain unremedied for 5 days after written notice thereof shall have been given to the Borrower by the Administrative Agent at the
request of the Required Lenders; 

  
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 (e) the Borrower shall fail to observe or perform any covenant or agreement
contained in Section 1.06 or Article VI; 
 (f) the Borrower shall fail to perform any covenant or agreement
incorporated by reference by Section 5.08 within the period of grace or cure (if any) provided by the Capital Markets Agreement from which the applicable covenant or agreement is incorporated; 

(g) any Loan Party shall fail to observe or perform any covenant or agreement contained in this Agreement (other than
those specified in clause (a), (b), (c), (e) or (f) of this Article), and such failure shall continue unremedied for a period of 30 days after written notice thereof from the Administrative Agent to the Borrower (which notice
will be given at the request of the Required Lenders); 
 (h) Funded Debt in an aggregate principal amount which
is in excess of $200,000,000 shall become due before its stated maturity by the acceleration of the maturity thereof by reason of default, or Funded Debt in an aggregate principal amount which is in excess of $200,000,000 shall become due by its
terms and shall not be paid and, in any case aforesaid in this clause (h), corrective action satisfactory to the Required Lenders shall not be taken within 5 days after written notice of the situation shall have been given to the Borrower by
the Administrative Agent at the request of the Required Lenders; 
 (i) an involuntary case or other proceeding
shall be commenced against the Borrower or any Significant Subsidiary seeking liquidation, reorganization or other relief with respect to its debts under any Federal, state or foreign bankruptcy, insolvency, or other similar law now or
hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property, and, such involuntary case or other proceeding shall remain undismissed and
unstayed for a period of 90 days, or an order for relief shall be entered against the Borrower or any Significant Subsidiary under any such bankruptcy laws as now or hereafter in effect; 

(j) the Borrower or any Significant Subsidiary shall (i) voluntarily commence any proceeding or file any petition
seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely and
appropriate manner, any case or other proceeding described in clause (i) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or
any Significant Subsidiary or for a substantial part of its assets, (iv) admit in writing its inability to pay its debts as they become due, (v) make a general assignment for the benefit of creditors or (vi) take any corporate action
to authorize any of the foregoing; 

  
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 (k) (i) a final judgment for the payment of money in excess of $200,000,000,
excluding (A) any amounts covered by insurance as to which the insurance company shall have acknowledged coverage so long as such insurance company is not a captive insurance subsidiary of the Borrower and (B) the amount of any judgment
against a Significant Subsidiary that exceeds the fair market value of the assets of such Significant Subsidiary (but only if neither the Borrower nor any other Significant Subsidiary is directly or contingently liable therefor), shall have been
entered against the Borrower or any Significant Subsidiary and (ii) the Borrower or such Significant Subsidiary shall not satisfy the same within 60 days, or cause execution thereon to be stayed within 60 days, and such failure to
satisfy or stay such judgment shall remain unremedied for 5 days after notice thereof shall be given to the Borrower by the Administrative Agent at the request of the Required Lenders; 

(l) (i) the termination of, or the imposition of liability (other than for premiums under Section 4007 of ERISA)
under Title IV of ERISA in respect of, or the appointment of a trustee under Title IV of ERISA to administer, any Plan or Plans having aggregate Unfunded Liabilities in excess of $200,000,000 or (ii) the imposition of withdrawal liability to a
Multiemployer Plan involving a current payment obligation in excess of $200,000,000, which, in either case, results in an immediately due legal liability in excess of $200,000,000 which has not been satisfied within 60 days and such failure to
satisfy is unremedied for 5 days after notice thereof shall have been given to the Borrower by the Administrative Agent at the request of the Required Lenders; 
 (m) the guarantee of the Guarantor under Article IX shall not be (or shall be asserted by any Loan Party not to be) valid or in full force and effect except in connection with a termination of such
guarantee in accordance with Section 9.02 or Section 10.14; 
 (n) a Change in Control shall occur; or

 (o) any Event of Default shall have occurred and be continuing under the 5-Year Credit Agreement. 

then, and in every such event (other than an event with respect to the Borrower described in clause (i) or (j) of this Article), and at any
time thereafter during the continuance of such event, the Administrative Agent shall, if requested by the Required Lenders, by notice to the Borrower, take either or both of the following actions, at the same or different
times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be
due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued
hereunder, shall 

  
 45 

 
become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the
Borrower described in clause (i) or (j) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the
Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. Nothing in this Agreement shall constitute a waiver of any
rights or remedies the Lenders may otherwise have, including setoff rights. 
 ARTICLE VIII 

The Administrative Agent 
 Each of the Lenders hereby irrevocably appoints the Administrative Agent (and its successors) as its agent 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, together with such actions and powers as are reasonably incidental thereto. 
 The bank 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 such bank and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or
other Affiliate thereof as if it were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 
 The Administrative Agent shall not have any duties or obligations except those expressly set forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be
subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the
circumstances as provided in Section 10.02), provided that the Administrative Agent shall not be required to take any action that, in its opinion, could expose the Administrative Agent to liability or be contrary to this Agreement or any
applicable law, rule or regulation, and (c) except as expressly set forth herein, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any
of its Subsidiaries or other Affiliates thereof that is communicated to or obtained by the bank 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 with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02) or in the absence of its own gross negligence
or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender,

  
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and 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, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein
or the occurrence of any Default, (iv) the sufficiency, validity, enforceability, effectiveness or genuineness of this Agreement 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. 
 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, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed or sent by the proper Person (whether or not such Person in fact meets the requirements set forth
herein for being the signatory or sender thereof). The Administrative Agent also may rely, and shall not incur any liability for relying, upon any statement made to it orally or by telephone and believed by it to be made by the proper Person
(whether or not such Person in fact meets the requirements set forth herein for being the signatory or sender thereof), and may act upon any such statement prior to receipt of written confirmation thereof. The Administrative Agent may consult with
legal counsel (who may be counsel for the Borrower), 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.

 The Administrative Agent may perform any and all its duties and exercise its rights and powers 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 its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the
preceding paragraphs 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 the Administrative Agent. 
 Subject to the appointment and acceptance of a successor
Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, in consultation with the Borrower,
to appoint a successor. If no 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, then the retiring
Administrative Agent may (in consultation with, and (unless an Event of Default of the types described in paragraph (i) or (j) of Article VII has occurred and is continuing with respect to the Borrower) with the consent of the Borrower,
which consent may not be unreasonably withheld), on behalf of the Lenders, appoint a successor Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its
appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be
discharged from its duties 

  
 47 

 
and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower
and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 10.03 shall continue in effect for the benefit of such retiring 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 while it was acting as Administrative Agent. 
 Each Lender acknowledges that 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 Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender, or any of the Related Parties of any of the
foregoing, 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 related agreement or any document
furnished hereunder or thereunder. 
 Each Lender, by delivering its signature page to this Agreement, or to an Assignment and
Assumption or any other document pursuant to which it shall become a Lender hereunder, shall be deemed to have acknowledged receipt of and consented to each document delivered to, or required to be approved by or satisfactory to, the Administrative
Agent or the Lenders on or prior to the date on which such Lender becomes a Lender. 
 It is agreed that the Syndication Agents
and the institutions named on the cover of this Agreement as Joint Lead Arrangers and Joint Bookrunners shall, in their capacities as such, have no duties or responsibilities under or liability in connection with this Agreement, but all such Persons
shall have the benefit of the indemnities provided hereunder. None of the Administrative Agent, the Syndication Agents or such Joint Lead Arrangers and Joint Bookrunners, in their capacities as such, shall have or be deemed to have any fiduciary
relationship with any Lender. 
 ARTICLE IX 
 Guarantee 
 SECTION 9.01. Guarantee. In order to induce the Lenders
to extend credit to the Borrower hereunder, the Guarantor hereby irrevocably and unconditionally guarantees the due and punctual payment of the Obligations. The Guarantor further agrees that the Obligations may be extended or renewed, in whole or in
part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal of any Obligation. This guarantee is subject to release in the manner described in
Section 9.02. 
 The Guarantor waives presentment to, demand of payment from and protest to the Borrower of any of the
Obligations, and also waives notice of acceptance of its obligations and notice of protest for nonpayment. The obligations of the Guarantor hereunder shall not be affected by (a) the failure of any Lender to assert any claim or demand or to
enforce any right or 

  
 48 

 
remedy against the Borrower under the provisions of this Agreement or otherwise; (b) any extension or renewal of any of the Obligations; (c) any rescission, waiver, amendment or
modification of, or release from, the Obligations or any of the terms or provisions of this Agreement; (d) the failure or delay of any Lender to exercise any right or remedy against any other guarantor of the Obligations; (e) the failure
of any Lender to assert any claim or demand or to enforce any remedy under this Agreement or any other agreement or instrument; (f) any default, failure or delay, willful or otherwise, in the performance of the Obligations; or (g) any
other act, omission or delay to do any other act which may or might in any manner or to any extent vary the risk of the Guarantor or otherwise operate as a discharge of the Guarantor as a matter of law or equity or which would impair or eliminate
any right of the Guarantor to subrogation. 
 The Guarantor further agrees that its guarantee hereunder constitutes a promise of
payment when due, subject to applicable periods of grace (whether or not any bankruptcy or similar proceeding shall have stayed the accrual or collection of any of the Obligations or operated as a discharge thereof) and not merely of collection, and
waives any right to require that any resort be had by any Lender or the Administrative Agent to any balance of any deposit account or credit on the books of any Lender or the Administrative Agent in favor of the Borrower or any Subsidiary or any
other Person. 
 The obligations of the Guarantor hereunder shall not be subject to any reduction, limitation, impairment or
termination for any reason, and shall not be subject to any defense or setoff, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or unenforceability of the Obligations, any impossibility in the performance
of the Obligations or otherwise. 
 The Guarantor further agrees that its obligations hereunder shall continue to be effective
or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by any Lender upon the bankruptcy or reorganization of the Borrower or otherwise. 

In furtherance of the foregoing and not in limitation of any other right which any Lender or the Administrative Agent may have at law or
in equity against the Guarantor by virtue hereof, upon the failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, the Guarantor hereby
promises to and will, upon receipt of written demand by the Administrative Agent, forthwith pay, or cause to be paid, to the Administrative Agent, for distribution to the Lenders or the Administrative Agent, as appropriate, in cash an amount
equal the unpaid principal amount of such Obligation. 
 Upon payment in full by the Guarantor of any Obligation of the
Borrower, each Lender shall, in a reasonable manner, assign to the Guarantor, as applicable, the amount of such Obligation owed to such Lender and so paid, such assignment to be pro tanto to the extent to which the Obligation in question was
discharged by the Guarantor or make such disposition thereof as the Guarantor shall direct (all without recourse to any Lender and without any representation or warranty by any Lender). Upon payment by the Guarantor of any sums as provided above,
all rights of the Guarantor against the Borrower arising as a result thereof by way of right of subrogation or otherwise shall in all respects be subordinated and junior in right of payment to the prior indefeasible payment in full of all the
Obligations owed by the Borrower to the Lenders. 

  
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 SECTION 9.02. Release of Guarantee. Notwithstanding anything in this Agreement to the
contrary, in the event that at any time (a) the Guarantor has no Capital Markets Debt outstanding, and (b) no other Capital Markets Debt of the Borrower or any Significant Subsidiary is guaranteed or is required to be guaranteed by the
Guarantor, the guarantee of the Guarantor under this Article IX shall be automatically released (it being understood that such release will not require any Lender consent and may occur concurrently with any repayment of Capital Markets Debt or
release of a guarantee of other Capital Markets Debt that results in the conditions set forth in the preceding clauses (a) and (b) being satisfied). The Guarantor may also be released from the guarantee set forth in Section 9.01 in
the manner described in Section 10.14. Any release of the Guarantor pursuant to this Section 9.02 or Section 10.14 shall be irrevocable. The Administrative Agent shall promptly confirm in writing any release of the Guarantor pursuant
to this Section or Section 10.14 upon the request of the Borrower. 
 ARTICLE X 

Miscellaneous 
 SECTION 10.01. Notices. (a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph (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 Telecopy, as follows: 

(i) if to the Borrower, to it at Northrop Grumman Corporation, 2980 Fairview Park Drive, Falls Church, VA 22042, Attention
of Assistant Treasurer (Telecopy No. (703) 846-9605); 
 (ii) if to the Administrative
Agent to JPMorgan Chase Bank, N.A., Loan and Agency Services Group, 1111 Fannin Street, 10th Floor, Houston, TX 77002, Attention of Loan Services (Telecopy No. (713) 750-2938), with a copy to JPMorgan Chase Bank, N.A., 383 Madison Avenue, New York, NY 10179, Attention of Aized Rabbani
(Telecopy No. (212) 270-5100); and 
 (iii) if to any other Lender, to it at its address (or Telecopy
number) set forth in its Administrative Questionnaire. 
 (b) Notices and other communications to the Lenders hereunder may be
delivered or furnished by electronic communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent
and the applicable Lender. The Administrative Agent or the Borrower may, 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. 

  
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 (c) Any party hereto may change its address or Telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

(d) Each Lender is responsible for providing prompt notice to the Administrative Agent of any changes to the information set forth in its
Administrative Questionnaire. 
 SECTION 10.02. Waivers; Amendments. (a) No failure or delay by the Administrative
Agent or any Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power,
preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would
otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or
consent shall be effective only in the specific instance and for the specific purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether
the Administrative Agent or any Lender may have had notice or knowledge of such Default at the time. 
 (b) Except as set forth
in paragraph (c) below, neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the
Administrative Agent with the consent of the Required Lenders or, with respect to any waiver, amendment or modification of Article IX hereof, by the Loan Parties and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any fees
payable hereunder, without the written consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest thereon, or any fees payable hereunder, or reduce the amount of,
waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter the pro
rata sharing of payments required thereby, without the written consent of each Lender, (v) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number or
percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender or (vi) release the Guarantor from its obligations under
Article IX (other than as provided for in Section 9.02 or Section 10.14), without the written consent of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the
Administrative Agent hereunder without the prior written consent of the Administrative Agent. 

  
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 (c) In connection with any proposed amendment, modification, waiver or termination (a
“Proposed Change”) requiring the consent of all the Lenders, if the consent of Lenders representing the Required Lenders to such Proposed Change is obtained, but the consent of any other Lender is not obtained (any such Lender whose
consent is not obtained as described in this Section 10.02(c) being referred to as a “Non-Consenting Lender”), then, so long as the Lender that is acting as the Administrative Agent is not a Non-Consenting Lender, at the
Borrower’s request, any assignee identified by the Borrower (with the consent of such assignee) that is acceptable to the Administrative Agent (and that is not a Non-Consenting Lender) shall have the right, with the Administrative Agent’s
consent, to purchase from such Non-Consenting Lender, and such Non-Consenting Lender agrees that it shall, upon the Borrower’s request, sell and assign to such assignee, at no expense to such Non-Consenting Lender (including with respect to any
processing and recordation fees that may be applicable pursuant to Section 10.04(b)(ii)), all the Commitments and Revolving Credit Exposure of such Non-Consenting Lender for an amount equal to the principal balance of all Revolving Loans held
by such Non-Consenting Lender and all accrued interest, accrued fees and other amounts with respect thereto through the date of sale (including amounts under Sections 2.15, 2.16 and 2.17), such purchase and sale to be consummated pursuant to an
executed Assignment and Assumption in accordance with Section 10.04(b) (which Assignment and Assumption need not be signed by such Non-Consenting Lender). 
 SECTION 10.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall reimburse (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 (A) the primary syndication of the credit facilities provided for herein through the Effective Date and (B) the
preparation and administration of this Agreement and any amendments, modifications or waivers of the provisions hereof, in each case whether or not the Transactions are consummated and (ii) all reasonable out-of-pocket expenses incurred by the
Administrative Agent or any Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender, in connection with the enforcement or protection of its rights under or in connection with this Agreement,
including its rights under this Section, or in connection with the Loans made hereunder, including all such reasonable out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b) The Borrower shall indemnify the Administrative Agent and each Lender, and each Related Party (including each Arranger) 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 (other than Excluded Taxes), including the
reasonable and documented fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the arrangement and the syndication of the
credit facilities provided for herein, the execution and delivery of this Agreement or any agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations hereunder or the consummation of the
Transactions, (ii) any Loan or the use of the proceeds therefrom, or (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and
regardless of whether any Indemnitee is a party thereto and regardless of whether such matter is initiated by a 

  
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third party or by the Borrower or any Affiliate thereof; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses shall have resulted from the gross negligence or willful misconduct of such Indemnitee or its Affiliates, officers, directors, employees, advisors or agents. 

(c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent under paragraph
(a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed
expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, shall have been incurred by or asserted against the
Administrative Agent in its capacity as such. 
 (d) To the extent permitted by applicable law, the Borrower shall not assert,
and hereby waives, 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 or
any agreement or instrument contemplated hereby, the Transactions, any Loan or the use of the proceeds thereof. 
 (e) All
amounts due under this Section shall be payable promptly after written demand therefor, together with reasonable detail and supporting documentation. 
 SECTION 10.04. Successors and Assigns. (a) 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, provided that, (i) except in accordance with Section 6.02, the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and
(ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section (and any attempted assignment or transfer not in compliance with the terms of this Section 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 (but only to the extent expressly provided for in
paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.

 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may 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 and the Loans at the time owing to it) other than to a Defaulting Lender with the prior written consent (such consent not to be unreasonably
withheld) of: 
 (A) the Borrower; provided that no consent of the Borrower shall be required for an
assignment to a Lender, an Affiliate of a Lender or an Approved Fund, or, if an Event of Default has occurred and is continuing, any other assignee; provided further, that the Borrower, in determining whether to give such consent, may
reasonably consider, without limitation, the financial capability, the financial rating and location of a proposed assignee and any prior business relationships between the Borrower and a proposed assignee, provided that such determination shall be
made by the Borrower in good faith and after consideration of all relevant factors; and 

  
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 (B) the Administrative Agent; provided that no consent of the
Administrative Agent shall be required for an assignment of a Commitment to an assignee that is a Lender with a Commitment immediately prior to giving effect to such assignment. 

(ii) Each Assignment and Assumption shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining
amount of the assigning Lender’s Commitment or Competitive Loans, the amount of the Commitment 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) shall not be less than $10,000,000 unless each of the Borrower and the Administrative Agent otherwise consent; provided that no such consent of the Borrower shall be required if an Event of Default has
occurred and is continuing; 
 (B) 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; provided that this clause shall not apply to rights in respect of outstanding Competitive Loans; 

(C) the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption,
together with a processing and recordation fee of $3,500; 
 (D) the assignee, if it is not already a Lender,
shall deliver to the Administrative Agent an Administrative Questionnaire in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain MNPI) will be made available and who may receive such
information in accordance with the assignee’s compliance procedures and applicable law, including Federal, State and foreign securities laws and such assignee shall maintain the confidentiality of any Information it receives in accordance with
Section 10.12; and 
 (E) the assignee shall have executed and delivered to the Administrative Agent and to
the Borrower a Confidentiality Agreement. 
 (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(iv)
of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto 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 entitled to the benefits of Sections 2.15, 2.16, 2.17 and
10.03). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this Section 10.04 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 paragraph (c) of this Section. 

  
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 (iv) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices a copy of each Assignment and Assumption and Confidentiality Agreement delivered to it and records of the names and addresses of the Lenders, and the Commitment of, and principal amount of the Loans 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 Borrower, 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 Borrower and any Lender, at any
reasonable time and from time to time upon reasonable prior notice. 
 (v) Upon its receipt of a duly completed Assignment and
Assumption executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire and (unless the assignee is already a Lender) a Confidentiality Agreement, the processing and recordation fee referred to in
paragraph (b) of this Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the
Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 
 (c) (i) Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more banks or other entities other than a Defaulting Lender (a
“Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it) in compliance with this Section 10.04;
provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (C) the
Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. 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, modification or waiver described in the first proviso to Section 10.02(b) that affects such Participant, and (D) such Lender
shall not provide any information to the Participant concerning the Borrower and its Subsidiaries, the disclosure of which would be prohibited by Section 10.12, unless the Participant has executed a Confidentiality Agreement and delivered a
copy thereof to the Borrower and the Administrative Agent and the Borrower has expressly consented to the delivery of confidential information to such Participant. Subject to paragraph (c) (ii) of this Section, the Borrower agrees that
each Lender shall be entitled to make a claim against the Borrower on behalf of any Participant to whom it has sold participations for the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein, including
the requirements under Section 2.17(f) (it being understood that the documentation 

  
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required under Section 2.17(f) shall be delivered to the participating Lender)). Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the
Borrower, 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 this Agreement (the
“Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a
Participant’s interest in any Commitments, Loans or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan 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. 
 (ii) A Participant
shall not be entitled to receive any greater payment under Section 2.15 or 2.17 than the applicable Lender 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 Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 unless the Borrower is notified of the participation
sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.17(f) as though it were a Lender. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to
secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 SECTION 10.05.
Survival. All covenants, agreements, representations and warranties made by the Loan Parties herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been
relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the
Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any
accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 10.03 and Article VIII shall
survive and remain in full force and effect regardless of the consummation of the Transactions, the repayment of the Loans and the Commitments or the termination of this Agreement or any provision hereof. 

SECTION 10.06. Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and any separate letter agreements with respect to fees payable to the

  
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Administrative Agent 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, including the commitments of the Lenders and, if applicable, their Affiliates under any commitment letter entered into in connection with the credit facilities established hereunder and any commitment advices
submitted in connection therewith. 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
which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart
of a signature page of this Agreement by Telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 10.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision
in any other jurisdiction. 
 SECTION 10.08. No Reliance on Margin Stock. Each of the Lenders represents to the
Administrative Agent and the other Lenders that it in good faith is not relying upon any Margin Stock as collateral in the extension or maintenance of the credit provided for in this Agreement. 

SECTION 10.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in
accordance with and governed by the law of the State of New York. 
 (b) Each of the parties to this Agreement hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in the Borough of Manhattan in the City of New York and of the United States District
Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding shall be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto
agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right of any
party to bring any action or proceeding relating to this Agreement against the Borrower or its properties in the courts of any jurisdiction. 
 (c) Each of the parties to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the
laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by
law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

  
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 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 10.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 10.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 10.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the
construction of, or be taken into consideration in interpreting, this Agreement. 
 SECTION 10.12. Confidentiality. Each
of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’ directors, members, partners, trustees,
officers, employees and agents, including accountants, legal counsel and other advisors (collectively, the “Representatives”) on a need to know basis (it being understood that any Representative to whom such disclosure is made will
be informed of the confidential nature of such Information and instructed to keep such Information confidential in accordance with the terms of this Section), (b) to the extent requested by any regulatory authority (including (i) any
self-regulatory authority, such as the National Association of Insurance Commissioners and (ii) in connection with a pledge or assignment permitted under Section 10.04(d)), (c) to the extent required by applicable laws or regulations
or by any subpoena or similar legal process, (d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights
hereunder, (f) subject to a Confidentiality Agreement executed in favor of the Borrower, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or
(ii) any actual or prospective counterparty (or its advisors) designated by the Loan Parties to any swap or derivative transaction relating to the Borrower and its obligations, provided such actual or prospective assignee, Participant or
counterparty first executes and delivers to the Borrower a Confidentiality Agreement, (g) with the written consent of the Borrower acting through a Financial Officer or (h) 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 or any Lender on a nonconfidential basis from a source other than the Borrower, provided that the Administrative Agent or the
applicable Lender shall, 

  
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in connection with any disclosure pursuant to clause (b) or (c) above (other than disclosure made in the course of a bank examination), give to the Borrower any notice that it is not
prohibited from providing of the requirement of such disclosure. Each of the Administrative Agent and the Lenders agrees that it shall be responsible for any breach of this Section that results from the actions or omissions of its Representatives.
For the purposes of this Section. “Information” means all information received from the Borrower relating to the Borrower, its Subsidiaries or their respective businesses, other than any such information that is available to the
Administrative Agent or any Lender on a nonconfidential basis prior to disclosure by the Borrower. 
 SECTION 10.13. Interest
Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law
(collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable
law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in
respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate
therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such Lender. 
 SECTION 10.14. Release of Guarantee. In the event of a disposition of all the capital stock in the Guarantor to a Person other than the Borrower or a Subsidiary in a transaction not prohibited by
any covenant contained in this Agreement, the Administrative Agent is hereby directed and authorized to take such action and to execute such documents as the Borrower may reasonably request, at the Borrower’s sole expense, to evidence or effect
the release of the guarantee by the Guarantor under this Agreement; provided, that a disposition of the capital stock of the Guarantor will not require or result in a release of such guarantee under this Section if such disposition
constitutes or occurs as part of a transfer of the assets of the Borrower substantially as an entirety. 
 SECTION 10.15.
Conversion of Currencies. (a) If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another currency, each party hereto agrees, to the fullest extent that it may
effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be purchased with such other currency on the Business Day immediately
preceding the day on which final judgment is given. 
 (b) The obligations of the Borrower in respect of any sum due to any party
hereto or any holder of the obligations owing hereunder (the “Applicable Creditor”) shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than the currency in which such sum is stated to
be due hereunder (the “Agreement Currency”), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any sum adjudged to be so due in the Judgment Currency, the Applicable Creditor
may in accordance 

  
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with normal banking procedures in the relevant jurisdiction 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 Applicable Creditor in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such loss. The obligations of the Borrower
contained in this Section 10.15 shall survive the termination of this Agreement and the payment of all other amounts owing hereunder. 
 SECTION 10.16. USA PATRIOT Act Notice. Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the
USA PATRIOT Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the name and address of the Borrower and other information that will allow such Lender or the Administrative Agent, as
applicable, to identify the Borrower in accordance with the USA PATRIOT Act. 
 SECTION 10.17. No Fiduciary Relationship.
Each of the Loan Parties hereby acknowledges that none of the Administrative Agent and the Lenders or their Affiliates has any fiduciary relationship with or duty to any Loan Party arising out of or in connection with this Agreement, and the
relationship between the Administrative Agent and the Lenders or any of their Affiliates, on the one hand, and the Loan Parties, on the other hand, in connection herewith is solely that of debtor and creditor. 

SECTION 10.18. Non-Public Information. Each Lender acknowledges that all information, including requests for waivers and
amendments, furnished by the Company or the Administrative Agent pursuant to or in connection with, or in the course of administering, this Agreement will be syndicate-level information, which may contain MNPI. Each Lender represents to the Company
and the Administrative Agent that (i) it has developed compliance procedures regarding the use of MNPI and that it will handle MNPI in accordance with such procedures and applicable law, including Federal, state and foreign securities laws,
(ii) it has identified in its Administrative Questionnaire a credit contact who may receive information that may contain MNPI in accordance with its compliance procedures and applicable law, including Federal, state and foreign securities laws
and (iii) it will maintain the confidentiality of any MNPI it receives in accordance with Section 10.12. 
 SECTION
10.19. Markit Data. (a) JPMCB, in any capacity, whether in an individual capacity or as Administrative Agent or as a Lender or otherwise, shall receive data from Markit with respect to credit default swap spreads and agrees in such
capacity to provide to Persons identified by each Lender and, if JPMCB is no longer the Administrative Agent, to the Administrative Agent (“Designated Users”), such data, including any accompanying written notice or supporting
information from Markit (together, the “Markit Data”), via email, log-in or other means of communication at the discretion of JPMCB. JPMCB shall have all of the rights, benefits and protections of the Administrative Agent provided
for in Article VIII when acting in such capacity with respect to the provision of any Markit Data. 
 (b) For the avoidance of
doubt, any Designated User shall only access and use the Markit Data for the purposes specified in this Agreement on behalf of the respective Lender or, if applicable, the Administrative Agent and shall be required by such Lender, and if applicable,
the 

  
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Administrative Agent, to comply with the terms of this Section 10.19. Each Lender and, if applicable, the Administrative Agent, hereby agrees, without limiting Markit’s or JPMCB’s
other rights and remedies, that it is responsible for and liable for any breach of any of the provisions of this Section 10.19 by its respective Designated Users. 
 (c) Each Lender acknowledges that all copyright, database rights, trade marks, patents, rights of privacy or publicity and other proprietary or intellectual property rights (including all models,
software, data and any materials) comprised in all or any of the Markit Data, or their provision, and all enhancements, modifications or additional services thereto, are and will be the exclusive property of Markit. Except as provided under this
Agreement, each Lender agrees that it will not use the same (including copying, reverse engineering or, except as otherwise required by law or regulation, disclosing it to any Person, for any purpose whatsoever) and will not remove or deface any
trademarks associated with the Markit Data. Each Lender acknowledges that the Markit Data was developed, compiled, prepared, revised, selected and arranged by Markit and others (including certain information sources (each a “Data
Provider”)) through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort and money, and constitute valuable intellectual property and trade secrets of Markit. Each
Lender shall make reasonable efforts to comply, at Markit’s expense, with all reasonable written requests made by JPMCB (upon Markit’s written requests to JPMCB) to protect any contractual, statutory and common law rights in the Markit
Data. 
 (d) Each Lender acknowledges that none of Markit, JPMCB, their respective affiliates or any Data Provider makes any
warranty, express or implied, as to the accuracy or completeness of the Markit Data or as to the results to be attained by any Lender or others from the use of the Markit Data. Each Lender hereby acknowledges that there are no express or implied
warranties of title, merchantability or fitness for a particular purpose or use, and that it has not relied upon any warranty, guaranty or representation made by Markit, JPMCB, their respective affiliates or any Data Provider. 

(e) None of Markit and its affiliates (except in the event of fraud, gross negligence or willful misconduct on part of Markit or its
affiliates), any Data Provider or JPMCB and its affiliates shall in any way be liable to any Lender or any client of any Lender for any inaccuracies, errors or omissions, regardless of cause, in the Markit Data provided hereunder or for any damages
(whether direct or indirect) resulting therefrom. Without limiting the foregoing, Markit and JPMCB shall have no liability whatsoever to any Lender or client of a Lender, whether in contract (including under an indemnity), in tort (including
negligence), under a warranty, under statute or otherwise, in respect of any loss or damage suffered by such Lender or client as a result of or in connection with any opinions, recommendations, forecasts, judgments, or any other conclusions, or any
course of action determined, by such Lender or any client of such Lender, based on the Markit Data. To the extent permitted by law, none of Markit, JPMCB or their respective affiliates shall be liable for any loss of profits or revenue or any
indirect or consequential losses or damages whatsoever incurred, whether or not it has been advised in advance of the possibility of any such loss. 

  
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 (f) Each Lender acknowledges that it or its employees may, in the course of performing such
Lender’s responsibilities under this Agreement, be exposed to or acquire information which is proprietary or confidential to Markit or to third parties to whom Markit owes a duty of confidentiality. Markit’s and such third parties’
confidential information means the Markit Data and any related materials provided by Markit through JPMCB to each Lender and the Administrative Agent under this Agreement. Each Lender agrees to hold Markit’s and such third parties’
confidential information in confidence to the same extent and in the same manner as such Lender is required to hold the Borrower’s information confidential pursuant to Section 10.12 hereof and agrees that it will follow procedures which
are intended to put any transferee of such confidential information on notice that such confidential information may not be used for any other purposes except as contemplated herein. It is understood and agreed that in the event of a breach of
confidentiality, damages may not be an adequate remedy and that JPMCB shall be entitled to injunctive relief to restrain any such breach, threatened or actual. The Lenders and the Administrative Agent are entitled to disclose and use the Markit Data
in the normal course of their business as it relates to the Agreement, including but not limited to disclosing such information to ratings agencies, league table providers and prospective assignees and participants; provided that all
communication involving Information shall be subject to the confidentiality provisions of Section 10.12. 
 (g) The Borrower
acknowledges that each of JPMCB and the other Lenders from time to time may conduct business with and may be a shareholder of Markit and that each of JPMCB or the other Lenders may have from the time to time the right to appoint one or more
directors to the board of directors of Markit. 
 [The remainder of this page has been left blank intentionally]

  
 62 

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

			
	NORTHROP GRUMMAN CORPORATION, as
Borrower,
		
	    by	 	 /s/    Mark A. Caylor

		 	  

		 	 Name: Mark A. Caylor
 Title:
  Corporate Vice President and Treasurer

  

			
	NORTHROP GRUMMAN SYSTEMS
CORPORATION, as Guarantor,
		
	     by
	 	 /s/    Mark A. Caylor

		 	  

		 	 Name: Mark A. Caylor
 Title:
  President and Treasurer

  

			
	JPMORGAN CHASE BANK, N.A., individually and
as Administrative Agent,
		
	    by	 	 /s/    Aized A. Rabbani

		 	  

		 	 Name: Aized A. Rabbani

Title:   Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Abu Dhabi International
Bank                                     

 

			
	    by	 	     /s/    David J. Young

		 	 Name: David J. Young
 Title:
  Vice President

  

			
	    by	 	     /s/    Nagy S. Kolta

		 	 Name: Nagy S. Kolta
 Title:
  Executive Vice President

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Australia and New Zealand Banking Group
Limited     
  

			
	    by	 	    /s/    Robert Grillo
		 	  

		 	 Name: Robert Grillo
 Title:
  Director

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        BANK OF AMERICA,
N.A.             
  

			
	    by	 	    /s/    Kenneth Beck
		 	  

		 	 Name: Kenneth Beck
 Title:
  Director

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        THE BANK OF NOVA
SCOTIA             
  

			
	    by	 	    /s/    Diane Emanuel
		 	  

		 	 Name: Diane Emanuel
 Title:
  Managing Director

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.    

  

			
	    by	 	    /s/    Victor Pierzchalski
		 	  

		 	 Name: Victor Pierzchalski

Title:   Authorized Signatory

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        BARCLAYS BANK
PLC             
  

			
	    by	 	    /s/    Ben Hickes
		 	  

		 	 Name: Ben Hickes
 Title:
  Authorised Signatory

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Bayerische Landesbank, New York Branch    

  

			
	    by	 	    /s/    Matthew DeCarlo
		 	  

		 	 Name: Matthew DeCarlo

Title:   First Vice President

  
  

			
	    by	 	    /s/    Gina Sandella
		 	  

		 	 Name: Gina Sandella
 Title:
  Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        BNP
Paribas                                     

 

			
	    by	 	    /s/    Todd Rodgers
		 	  

		 	 Name: Todd Rodgers
 Title:
  Director

  

			
	    by	 	    /s/    Mary-Ann Wong
		 	  

		 	 Name: Mary-Ann Wong
 Title:
  Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        The Bank of New York
Mellon                     
  

			
	    by	 	    /s/    Jeffrey Dears
		 	  

		 	 Name: Jeffrey Dears
 Title:
  Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Citibank,
N.A.                                        

  

			
	    by	 	    /s/    Andrew Sidford
		 	  

		 	 Name: Andrew Sidford
 Title:
  Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Credit Suisse AG, Cayman Islands
Branch             
  

			
	    by	 	    /s/    Karl Studer
		 	  

		 	 Name: Karl Studer
 Title:
  Director

  

			
	    by	 	    /s/    Claudia Siffert
		 	  

		 	 Name: Claudia Siffert

Title:   Assistant Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

For and on behalf of 
 Name of Institution:        DANSKE BANK
A/S:                               

 

			
	    by	 	    /s/    Martin Engholm
		 	  

		 	 Name: Martin Engholm
 Title:
  Vice President

  

			
	    by	 	    /s/    Jergen Linnet
		 	  

		 	 Name: Jergen Linnet
 Title:
  Senior Credit Administrator

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        DEUTSCHE BANK AG NEW YORK
BRANCH             
  

			
	    by	 	    /s/    Edward D. Herko
		 	  

		 	 Name: Edward D. Herko

Title:   Director

  

			
	    by	 	    /s/    Ming K. Chu
		 	  

		 	 Name: Ming K. Chu
 Title:
  Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        GOLDMAN SACHS BANK
USA             
  

			
	    by	 	    /s/    Mark Walton
		 	  

		 	 Name: Mark Walton
 Title:
  Authorized Signatory

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Gulf International Bank
Bsc.             
  

			
	    by	 	    /s/    Gregga J. Baxter
		 	  

		 	 Name: Gregga J. Baxter

Title:   Senior Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Intesa Sanpaolo S.p.A., New York
Branch             
  

			
	    by	 	    /s/    Luca Sacchi
		 	  

		 	 Name: Luca Sacchi
 Title:
  Vice President

  
  

			
	    by	 	    /s/    Francesco Di Mario
		 	  

		 	 Name: Francesco Di Mario

Title:   FVP & Head of Credit

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Lloyds TSB Bank
plc                     
  

			
	    by	 	    /s/    Windsor Davies
		 	  

		 	 Name: Windsor Davies
 Title:
  Managing Director

  
  

			
	    by	 	    /s/    Deborah Carlson
		 	  

		 	 Name: Deborah Carlson

Title:   Senior Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        Mizuho Corporate Bank,
Ltd.             
  

			
	    by	 	    /s/    Yasuo Imaizumi
		 	  

		 	 Name: Yasuo Imaizumi
 Title:
  Deputy General Manager

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        MORGAN STANLEY BANK,
N.A.             
  

			
	    by	 	    /s/    Sherrese Clarke
		 	  

		 	 Name: Sherrese Clarke

Title:   Authorized Signatory

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        The Northern Trust
Company                 
  

			
	    by	 	    /s/    Brandon Rolek
		 	  

		 	 Name: Brandon Rolek
 Title:
  Vice President

  

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        PNC BANK, NATIONAL ASSOCIATION 

 

			
	    by	 	     /s/    Matthew Sawyer

		 	 Name: Matthew Sawyer

Title:  Vice President

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:        THE ROYAL BANK OF SCOTLAND PLC 

 

			
	    by	 	     /s/    L. Peter Yetman

		 	 Name: L. Peter Yetman

Title:  Director

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:         STATE STREET BANK AND TRUST COMPANY 

 

			
	    by	 	     /s/    Juan G. Sierra

		 	 Name: Juan G. Sierra

Title:  Vice President

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:         Sumitomo Mitsui Banking Corporation 

 

			
	    by	 	     /s/    Shuji Yabe

		 	 Name: Shuji Yabe

Title:  General Manager

  
  

			
	    by	 	     /s/    David Kee

		 	 Name: David Kee

Title:  Joint General Manager

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:         SunTrust
Bank                                         
    
  

			
	    by	 	     /s/    David Simpson

		 	 Name: David Simpson

Title:  Vice President

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:         UNICREDIT BANK AG, NEW YORK BRANCH 

 

			
	    by	 	     /s/    Douglas Riahi

		 	 Name: Douglas Riahi

Title:  Director

  

			
	    by	 	     /s/    Annett Guderian

		 	 Name: Annett Guderian

Title:  Director

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:         U.S. BANK NATIONAL ASSOCIATION 

 

			
	    by	 	     /s/    Richard J. Ameny, Jr.

		 	 Name: Richard J. Ameny, Jr.

Title:  Vice President

 LENDER SIGNATURE PAGE 
 TO THE NORTHROP GRUMMAN 
 CORPORATION 364-DAY CREDIT AGREEMENT 

Name of Institution:         WELLS FARGO BANK, NATIONAL ASSOCIATION 

 

			
	    by	 	     /s/    Scott Santa Cruz

		 	 Name: Scott Santa Cruz

Title:  Managing DirectorCommon Stock Purchase Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
 COMMON STOCK
PURCHASE AGREEMENT 
 Dated as of September 13, 2011 

by and between 
 MICROVISION, INC. 
 and 

AZIMUTH OPPORTUNITY LTD. 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	ARTICLE I PURCHASE AND SALE OF COMMON STOCK	  	 	1	  
	        Section 1.1	  	Purchase and Sale of Stock	  	 	1	  
	        Section 1.2	  	Effective Date; Settlement Dates	  	 	1	  
	        Section 1.3	  	Reservation of Common Stock	  	 	2	  
	        Section 1.4	  	Current Report; Prospectus Supplement	  	 	2	  
	        Section 1.5	  	Prior Agreement	  	 	2	  
		
	ARTICLE II FIXED REQUEST TERMS; OPTIONAL AMOUNT	  	 	3	  
	        Section 2.1	  	Fixed Request Notice	  	 	3	  
	        Section 2.2	  	Fixed Requests	  	 	3	  
	        Section 2.3	  	Share Calculation	  	 	4	  
	        Section 2.4	  	Limitation of Fixed Requests	  	 	5	  
	        Section 2.5	  	Reduction of Commitment	  	 	5	  
	        Section 2.6	  	Below Threshold Price	  	 	5	  
	        Section 2.7	  	Settlement	  	 	6	  
	        Section 2.8	  	Reduction of Pricing Period	  	 	6	  
	        Section 2.9	  	Optional Amount	  	 	7	  
	        Section 2.10	  	Calculation of Optional Amount Shares	  	 	7	  
	        Section 2.11	  	Exercise of Optional Amount	  	 	8	  
	        Section 2.12	  	Aggregate Limit	  	 	8	  
		
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE INVESTOR	  	 	9	  
	        Section 3.1	  	Organization and Standing of the Investor	  	 	9	  
	        Section 3.2	  	Authorization and Power	  	 	9	  
	        Section 3.3	  	No Conflicts	  	 	10	  
	        Section 3.4	  	Information	  	 	10	  
		
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	11	  
	        Section 4.1	  	Organization, Good Standing and Power	  	 	11	  
	        Section 4.2	  	Authorization, Enforcement	  	 	11	  
	        Section 4.3	  	Capitalization	  	 	11	  
	        Section 4.4	  	Issuance of Shares	  	 	12	  
	        Section 4.5	  	No Conflicts	  	 	12	  
	        Section 4.6	  	Commission Documents, Financial Statements	  	 	13	  
	        Section 4.7	  	Subsidiaries	  	 	14	  
	        Section 4.8	  	No Material Adverse Effect	  	 	15	  
	        Section 4.9	  	No Undisclosed Liabilities	  	 	15	  
	        Section 4.10	  	No Undisclosed Events or Circumstances	  	 	15	  
	        Section 4.11	  	Indebtedness; Solvency	  	 	15	  
	        Section 4.12	  	Title To Assets	  	 	15	  
	        Section 4.13	  	Actions Pending	  	 	16	  
	        Section 4.14	  	Compliance With Law	  	 	16	  

  
 i 

							
	        Section 4.15	  	Certain Fees	  	 	16	  
	        Section 4.16	  	Operation of Business	  	 	17	  
	        Section 4.17	  	Environmental Compliance	  	 	17	  
	        Section 4.18	  	Material Agreements	  	 	18	  
	        Section 4.19	  	Transactions With Affiliates	  	 	18	  
	        Section 4.20	  	Securities Act; FINRA Rules	  	 	19	  
	        Section 4.21	  	Employees	  	 	21	  
	        Section 4.22	  	Use of Proceeds	  	 	21	  
	        Section 4.23	  	Investment Company Act Status	  	 	21	  
	        Section 4.24	  	ERISA	  	 	21	  
	        Section 4.25	  	Taxes	  	 	22	  
	        Section 4.26	  	Insurance	  	 	22	  
	        Section 4.27	  	U.S. Real Property Holding Corporation	  	 	22	  
	        Section 4.28	  	Dilutive Effect	  	 	22	  
	        Section 4.29	  	Manipulation of Price	  	 	22	  
	        Section 4.30	  	Listing and Maintenance Requirements	  	 	23	  
	        Section 4.31	  	Application of Takeover Protections	  	 	23	  
	        Section 4.32	  	Acknowledgement Regarding Investor’s Acquisition of Shares	  	 	23	  
		
	ARTICLE V COVENANTS	  	 	23	  
	        Section 5.1	  	Securities Compliance	  	 	23	  
	        Section 5.2	  	Registration and Listing	  	 	24	  
	        Section 5.3	  	Compliance with Laws	  	 	24	  
	        Section 5.4	  	Keeping of Records and Books of Account; Foreign Corrupt Practices Act	  	 	24	  
	        Section 5.5	  	Limitations on Holdings and Issuances	  	 	25	  
	        Section 5.6	  	Other Agreements and Other Financings	  	 	25	  
	        Section 5.7	  	Stop Orders	  	 	27	  
	        Section 5.8	  	Amendments to the Registration Statement; Prospectus Supplements; Free Writing Prospectuses	  	 	28	  
	        Section 5.9	  	Prospectus Delivery	  	 	29	  
	        Section 5.10	  	Selling Restrictions	  	 	29	  
	        Section 5.11	  	Effective Registration Statement	  	 	30	  
	        Section 5.12	  	Blue Sky	  	 	30	  
	        Section 5.13	  	Non-Public Information	  	 	30	  
	        Section 5.14	  	Broker/Dealer	  	 	31	  
	        Section 5.15	  	Disclosure Schedule	  	 	31	  
		
	ARTICLE VI OPINION OF COUNSEL AND CERTIFICATE; CONDITIONS TO
 THE SALE AND PURCHASE OF THE SHARES
	  	 	31	  
	        Section 6.1	  	Opinion of Counsel; Certificate	  	 	31	  
	        Section 6.2	  	Conditions Precedent to the Obligation of the Company	  	 	32	  
	        Section 6.3	  	Conditions Precedent to the Obligation of the Investor	  	 	33	  
		
	ARTICLE VII TERMINATION	  	 	35	  
	        Section 7.1	  	Term, Termination by Mutual Consent	  	 	35	  
	        Section 7.2	  	Other Termination	  	 	36	  
	        Section 7.3	  	Effect of Termination	  	 	36	  

  
 ii 

							
		
	ARTICLE VIII INDEMNIFICATION	  	 	37	  
	         Section 8.1
	  	General Indemnity	  	 	37	  
	         Section 8.2
	  	Indemnification Procedures	  	 	39	  
		
	ARTICLE IX MISCELLANEOUS	  	 	40	  
	         Section 9.1
	  	Fees and Expenses	  	 	40	  
	         Section 9.2
	  	Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial	  	 	41	  
	         Section 9.3
	  	Entire Agreement; Amendment	  	 	42	  
	         Section 9.4
	  	Notices	  	 	42	  
	         Section 9.5
	  	Waivers	  	 	43	  
	         Section 9.6
	  	Headings; Construction	  	 	43	  
	         Section 9.7
	  	Successors and Assigns	  	 	43	  
	         Section 9.8
	  	Governing Law	  	 	44	  
	         Section 9.9
	  	Survival	  	 	44	  
	         Section 9.10
	  	Counterparts	  	 	44	  
	         Section 9.11
	  	Publicity	  	 	44	  
	         Section 9.12
	  	Severability	  	 	45	  
	         Section 9.13
	  	No Third Party Beneficiaries	  	 	45	  
	         Section 9.14
	  	Further Assurances	  	 	45	  
			
	 Annex A.
	  	Definitions	  			

  
 iii

 COMMON STOCK PURCHASE AGREEMENT 

This COMMON STOCK PURCHASE AGREEMENT, made and entered into on this 13th day of September 2011 (this
“Agreement”), by and between Azimuth Opportunity Ltd., an international business company incorporated under the laws of the British Virgin Islands (the “Investor”), and Microvision, Inc., a corporation organized and
existing under the laws of the State of Delaware (the “Company”). Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in Annex A hereto. 

RECITALS 

WHEREAS, the parties desire that, upon the terms and subject to the conditions contained herein, the Company may issue and sell to
the Investor and the Investor shall thereupon purchase from the Company up to $35,000,000 of newly issued shares of the Company’s common stock, $0.001 par value (“Common Stock”), subject, in all cases, to the Trading Market
Limit; and 
 WHEREAS, the offer and sale of the Shares hereunder have been registered by the Company in the Registration
Statement, which has been declared effective by order of the Commission under the Securities Act; 
 NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 

PURCHASE AND SALE OF COMMON STOCK 
 Section 1.1 Purchase and Sale of Stock. Upon the terms and subject to the conditions of this Agreement, during the Investment Period the Company in its discretion may issue and sell to the
Investor up to $35,000,000 (the “Total Commitment”) of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock (subject in all cases to the Trading Market Limit, the “Aggregate Limit”),
by (i) the delivery to the Investor of not more than 24 separate Fixed Request Notices (unless the Investor and the Company mutually agree that a different number of Fixed Request Notices may be delivered) as provided in Article II hereof and
(ii) the exercise by the Investor of Optional Amounts, which the Company may in its discretion grant to the Investor and which may be exercised by the Investor, in whole or in part, as provided in Article II hereof. The aggregate of all Fixed
Request Amounts and Optional Amount Dollar Amounts shall not exceed the Aggregate Limit. 
 Section 1.2 Effective Date;
Settlement Dates. This Agreement shall become effective and binding upon the payment of the fees required to be paid on or prior to the Effective Date pursuant to Section 9.1, the delivery of counterpart signature pages of this
Agreement executed by each of the parties hereto, and the delivery of all other documents, instruments and writings required to be delivered on the Effective Date, in each case as provided in Section 6.1 hereof, to the offices of Greenberg
Traurig, LLP, 200 Park Avenue, New York, New York 10166, at 5:00 p.m., New York time, on the Effective Date. In consideration of and in express reliance upon the representations, warranties and covenants, and otherwise upon the terms and subject to
the conditions, of this Agreement, from and after the Effective Date and 

 
during the Investment Period (i) the Company shall issue and sell to the Investor, and the Investor agrees to purchase from the Company, the Shares in respect of each Fixed Request and
(ii) the Investor may in its discretion elect to purchase Shares in respect of each Optional Amount. The issuance and sale of Shares to the Investor pursuant to any Fixed Request or Optional Amount shall occur on the applicable Settlement Date
in accordance with Sections 2.7 and 2.9 (or on such Trading Day in accordance with Section 2.8, as applicable), provided in each case that all of the conditions precedent thereto set forth in Article VI theretofore shall have been
fulfilled or (to the extent permitted by applicable law) waived. 
 Section 1.3 Reservation of Common Stock. The
Company has or will have duly authorized and reserved for issuance, and covenants to continue to so reserve once reserved for issuance, free of all preemptive and other similar rights, at all times during the Investment Period, the requisite
aggregate number of authorized but unissued shares of its Common Stock to timely effect the issuance, sale and delivery in full to the Investor of all Shares to be issued in respect of all Fixed Requests and Optional Amounts under this Agreement, in
any case prior to the issuance to the Investor of such Shares. 
 Section 1.4 Current Report; Prospectus
Supplement. As soon as practicable, but in any event not later than 5:30 p.m. (New York time) on the first Trading Day immediately following the Effective Date, the Company shall file with the Commission (i) a report on Form 8-K
relating to the transactions contemplated by, and describing the material terms and conditions of, this Agreement (the “Current Report”), and (ii) a Prospectus Supplement pursuant to Rule 424(b) under the Securities Act
specifically relating to the transactions contemplated by, and describing the material terms and conditions of, this Agreement, containing information previously omitted at the time of effectiveness of the Registration Statement in reliance on Rule
430B under the Securities Act, and disclosing all information relating to the transactions contemplated hereby required to be disclosed in the Registration Statement and the Prospectus as of the Effective Date, including, without limitation,
information required to be disclosed in the section captioned “Plan of Distribution” in the Prospectus. The Current Report shall include a copy of this Agreement as an exhibit and shall be incorporated by reference in the Registration
Statement and the Prospectus. The Company heretofore has provided the Investor a reasonable opportunity to comment on a draft of such Current Report and Prospectus Supplement and has given due consideration to such comments. Pursuant to
Section 5.9 and subject to the provisions of Section 5.8, on the first Trading Day immediately following the last Trading Day of each Pricing Period, the Company shall file with the Commission a Prospectus Supplement pursuant to Rule
424(b) under the Securities Act disclosing the total number of Shares to be issued and sold to the Investor thereunder, the total purchase price therefor and the net proceeds to be received by the Company therefrom. 

Section 1.5 Prior Agreement. The parties acknowledge and agree that the Common Stock Purchase Agreement, dated as of
May 4, 2011, by and between the Investor and the Company (the “Prior Agreement”), and the Registration Rights Agreement, dated as of May 4, 2011, by and between the Investor and the Company, each shall remain in full force
and effect pursuant to and in accordance with their respective terms. 

  
 2 

 ARTICLE II 
 FIXED REQUEST TERMS; OPTIONAL AMOUNT 
 Subject to the satisfaction of the
conditions set forth in this Agreement, the parties agree (unless otherwise mutually agreed upon by the parties in writing) as follows: 
 Section 2.1 Fixed Request Notice. The Company may, from time to time in its sole discretion, no later than 9:30 a.m. (New York time) on the first Trading Day of the Pricing Period, provide
to the Investor a Fixed Request notice, substantially in the form attached hereto as Exhibit A (the “Fixed Request Notice”), which Fixed Request Notice shall become effective at 9:30 a.m. (New York time) on the first Trading
Day of the Pricing Period specified in the Fixed Request Notice; provided, however, that if the Company delivers the Fixed Request Notice to the Investor later than 9:30 a.m. (New York time) on a Trading Day, then the first Trading Day
of such Pricing Period shall not be the Trading Day on which the Investor received such Fixed Request Notice, but rather shall be the next Trading Day (unless a subsequent Trading Day is therein specified). The Fixed Request Notice shall specify the
Fixed Amount Requested, establish the Threshold Price for such Fixed Request, designate the first and last Trading Day of the Pricing Period and specify the Optional Amount, if any, that the Company elects to grant to the Investor during the Pricing
Period and the applicable Threshold Price for such Optional Amount (the “Optional Amount Threshold Price”). The Threshold Price and the Optional Amount Threshold Price established by the Company in a Fixed Request Notice may be the
same or different, in the Company’s sole discretion. Upon the terms and subject to the conditions of this Agreement, the Investor is obligated to accept each Fixed Request Notice prepared and delivered in accordance with the provisions of this
Agreement. 
 Section 2.2 Fixed Requests. From time to time during the Investment Period, the Company may in its
sole discretion deliver to the Investor a Fixed Request Notice for a specified Fixed Amount Requested, and the applicable discount price (the “Discount Price”) shall be determined, in accordance with the price and share amount
parameters as set forth below or such other parameters mutually agreed upon by the Investor and the Company, and upon the terms and subject to the conditions of this Agreement, the Investor shall purchase from the Company the Shares subject to such
Fixed Request Notice at the Discount Price; provided, however, that (i) if an ex-dividend date is established by the Trading Market in respect of the Common Stock on or between the first Trading Day of the applicable Pricing
Period and the applicable Settlement Date, the Discount Price shall be reduced by the per share dividend amount and (ii) unless the parties otherwise mutually agree, the Company may not deliver any single Fixed Request Notice for a Fixed Amount
Requested in excess of the lesser of (a) the amount in the applicable Fixed Amount Requested column below and (b) 2.5% of the Market Capitalization: 
  

					
	 Threshold Price
	  	 Fixed Amount Requested
	  	 Discount Price

	 Equal to or greater than $5.00
	  	Not to exceed $8,500,000	  	96.50% of the VWAP
			
	 Equal to or greater than $4.75 and less than $5.00
	  	Not to exceed $8,000,000	  	96.50% of the VWAP
			
	 Equal to or greater than $4.50 and less than $4.75
	  	Not to exceed $7,500,000	  	95.50% of the VWAP

  
 3 

					
	 Equal to or greater than $4.25 and less than $4.50
	 	Not to exceed $7,000,000	  	95.50% of the VWAP
			
	 Equal to or greater than $4.00 and less than $4.25
	 	Not to exceed $6,500,000	  	95.50% of the VWAP
			
	 Equal to or greater than $3.75 and less than $4.00
	 	Not to exceed $6,000,000	  	95.50% of the VWAP
			
	 Equal to or greater than $3.50 and less than $3.75
	 	Not to exceed $5,500,000	  	95.50% of the VWAP
			
	 Equal to or greater than $3.25 and less than $3.50
	 	Not to exceed $5,000,000	  	95.50% of the VWAP
			
	 Equal to or greater than $3.00 and less than $3.25
	 	Not to exceed $4,500,000	  	95.50% of the VWAP
			
	 Equal to or greater than $2.75 and less than $3.00
	 	Not to exceed $4,000,000	  	95.50% of the VWAP
			
	 Equal to or greater than $2.50 and less than $2.75
	 	Not to exceed $3,500,000	  	95.00% of the VWAP
			
	 Equal to or greater than $2.25 and less than $2.50
	 	Not to exceed $3,000,000	  	95.00% of the VWAP
			
	 Equal to or greater than $2.00 and less than $2.25
	 	Not to exceed $2,500,000	  	94.50% of the VWAP
			
	 Equal to or greater than $1.75 and less than $2.00
	 	Not to exceed $2,000,000	  	94.50% of the VWAP
			
	 Equal to or greater than $1.50 and less than $1.75
	 	Not to exceed $1,500,000	  	94.00% of the VWAP
			
	 Equal to or greater than $1.25 and less than $1.50
	 	Not to exceed $1,000,000	  	94.00% of the VWAP
			
	 Equal to or greater than $0.75 and less than $1.25
	 	Not to exceed $1,000,000	  	93.50% of the VWAP

 Anything to the contrary in this Agreement notwithstanding, unless otherwise mutually agreed upon by the
Investor and the Company, at no time shall the Investor be required to purchase more than $8,500,000 worth of Common Stock in respect of any Pricing Period (not including Common Stock subject to any Optional Amount). The date on which the Company
delivers any Fixed Request Notice in accordance with this Section 2.2 hereinafter shall be referred to as a “Fixed Request Exercise Date”. 
 Section 2.3 Share Calculation. With respect to the Trading Days during the applicable Pricing Period for which the VWAP equals or exceeds the Threshold Price, the number of Shares to be
issued by the Company to the Investor pursuant to a Fixed Request shall equal the aggregate sum of each quotient (calculated for each Trading Day during the applicable Pricing Period for which the VWAP equals or exceeds the Threshold Price)
determined pursuant to the following equation (rounded to the nearest whole Share): 
  

					
	N =	  	(A x B)/C, where:
		
	N =	  	the number of Shares to be issued by the Company to the Investor in respect of a Trading Day during the applicable Pricing Period for which the VWAP equals or exceeds the
Threshold Price,

  
 4 

			
		
	 A =
	  	0.10 (the “Multiplier”), provided, however, that if the Company and the Investor mutually agree prior to the commencement of a Pricing Period that
the number of consecutive Trading Days constituting a Pricing Period shall be less than 10, then the Multiplier correspondingly shall be increased to equal the decimal equivalent (in 10-millionths) of a fraction, the numerator of which is one and
the denominator of which equals the number of Trading Days in the reduced Pricing Period (it being hereby acknowledged and agreed that this proviso shall not apply to any unilateral determination by the Company to reduce a Pricing Period, but
rather, Section 2.8 hereof shall apply),
		
	 B =
	  	the total Fixed Amount Requested, and
		
	 C =
	  	the applicable Discount Price.

 Section 2.4 Limitation of Fixed Requests. The Company shall not make more than one Fixed
Request in each Pricing Period. Unless otherwise mutually agreed upon by the Investor and the Company, not less than five Trading Days shall elapse between the end of one Pricing Period and the commencement of any other Pricing Period during the
Investment Period. There shall be permitted a maximum of 24 Fixed Requests during the Investment Period. Each Fixed Request automatically shall expire immediately following the last Trading Day of each Pricing Period. 

Section 2.5 Reduction of Commitment. On the Settlement Date with respect to a Pricing Period, the Investor’s Total
Commitment under this Agreement automatically (and without the need for any amendment to this Agreement) shall be reduced, on a dollar-for-dollar basis, by the total amount of the Fixed Request Amount and the Optional Amount Dollar Amount, if any,
for such Pricing Period paid to the Company at such Settlement Date. 
 Section 2.6 Below Threshold Price. If the
VWAP on any Trading Day in a Pricing Period is lower than the Threshold Price, then for each such Trading Day the Fixed Amount Requested shall be reduced, on a dollar-for-dollar basis, by an amount equal to the product of (x) the Multiplier and
(y) the total Fixed Amount Requested, and no Shares shall be purchased or sold with respect to such Trading Day, except as provided below. If trading in the Common Stock on NASDAQ (or any other U.S. national securities exchange on which the
Common Stock is then listed) is suspended for any reason for more than three hours on any Trading Day, the Investor may at its option deem the price of the Common Stock to be lower than the Threshold Price for such Trading Day and, for each such
Trading Day, the total amount of the Fixed Amount Requested shall be reduced as provided in the immediately preceding sentence, and no Shares shall be purchased or sold with respect to such Trading Day, except as provided below. For each Trading Day
during a Pricing Period on which the VWAP is lower (or is deemed to be lower as provided in the immediately preceding sentence) than the Threshold Price, the Investor may in its sole discretion elect to purchase such U.S. dollar amount of Shares
equal to the amount by which the Fixed Amount Requested has been reduced in accordance with this Section 2.6, at the Threshold Price multiplied by the applicable percentage determined in accordance with the price and share amount parameters set
forth in Section 2.2. The Investor shall inform the Company via facsimile transmission not later than 8:00 p.m. (New York time) on the last Trading Day of such Pricing Period as to the number of Shares, if any, the Investor elects to purchase
as provided in this Section 2.6. 

  
 5 

 Section 2.7 Settlement. The payment for, against simultaneous delivery
of, Shares in respect of each Fixed Request shall be settled on the second Trading Day next following the last Trading Day of each Pricing Period, or on such earlier date as the parties may mutually agree (the “Settlement Date”). On
each Settlement Date, the Company shall, or shall cause its transfer agent to, electronically transfer the Shares purchased by the Investor by crediting the Investor’s or its designees’ account (provided the Investor shall have given the
Company written notice of such designee prior to the Settlement Date) at DTC through its Deposit/Withdrawal at Custodian (DWAC) system, which Shares shall be freely tradable and transferable and without restriction on resale, against simultaneous
payment therefor to the Company’s designated account by wire transfer of immediately available funds; provided that if the Shares are received by the Investor later than 1:00 p.m. (New York time), payment therefor shall be made with next
day funds. As set forth in Section 9.1(ii), a failure by the Company to deliver such Shares shall result in the payment of partial damages by the Company to the Investor. 
 Section 2.8 Reduction of Pricing Period. If during a Pricing Period the Company elects to reduce the number of Trading Days in such Pricing Period (and thereby amend its previously delivered
Fixed Request Notice), the Company shall so notify the Investor before 9:00 a.m. (New York time) on any Trading Day during a Pricing Period (a “Reduction Notice”) and the last Trading Day of such Pricing Period shall be the Trading
Day immediately preceding the Trading Day on which the Investor received such Reduction Notice; provided, however, that if the Company delivers the Reduction Notice later than 9:00 a.m. (New York time) on a Trading Day during a Pricing
Period, then the last Trading Day of such Pricing Period instead shall be the Trading Day on which the Investor received such Reduction Notice. 
 Upon receipt of a Reduction Notice, the Investor (i) shall purchase the Shares in respect of each Trading Day in such reduced Pricing Period for which the VWAP equals or exceeds the Threshold Price
in accordance with Section 2.3 hereof; (ii) may elect to purchase the Shares in respect of any Trading Day in such reduced Pricing Period for which the VWAP is (or is deemed to be) lower than the Threshold Price in accordance with
Section 2.6 hereof; and (iii) may elect to exercise all or any portion of an Optional Amount on any Trading Day during such reduced Pricing Period in accordance with Sections 2.10 and 2.11 hereof. 

In addition, upon receipt of a Reduction Notice, the Investor may elect to purchase such U.S. dollar amount of additional Shares equal to
the product determined pursuant to the following equation: 
  

			
	D =	 	(A/B) x (B – C), where:
		
	D =	 	the U.S. dollar amount of additional Shares to be purchased,
		
	A =	 	the Fixed Amount Requested,
		
	B =	 	10 or, for purposes of this Section 2.8, such lesser number of Trading Days as the parties may mutually agree to, and
		
	C =	 	the number of Trading Days in the reduced Pricing Period,

  
 6 

 at a per Share price equal to (x) the Fixed Amount Requested attributable to the reduced Pricing Period
divided by (y) the number of Shares to be purchased during such reduced Pricing Period pursuant to clauses (i) and (ii) (as applicable) of the immediately preceding paragraph. 

The Investor may also elect to exercise any portion of the applicable Optional Amount which was unexercised during the reduced Pricing
Period by issuing an Optional Amount Notice to the Company not later than 10:00 a.m. (New York time) on the first Trading Day next following the last Trading Day of the reduced Pricing Period. The number of Shares to be issued upon exercise of such
Optional Amount shall be calculated pursuant to the equation set forth in Section 2.10 hereof, except that “C” shall equal the greater of (i) the VWAP for the Common Stock on the last Trading Day of the reduced Pricing Period or
(ii) the Optional Amount Threshold Price. 
 The payment for, against simultaneous delivery of, Shares to be purchased and
sold in accordance with this Section 2.8 shall be settled on the second Trading Day next following the Trading Day on which the Investor receives a Reduction Notice. 
 Section 2.9 Optional Amount. With respect to any Pricing Period, the Company may in its sole discretion grant to the Investor the right to exercise, from time to time during the Pricing
Period (but not more than once on any Trading Day), all or any portion of an Optional Amount. The maximum Optional Amount Dollar Amount and the Optional Amount Threshold Price shall be set forth in the Fixed Request Notice. If an ex-dividend date is
established by the Trading Market in respect of the Common Stock on or between the first Trading Day of the applicable Pricing Period and the applicable Settlement Date, the applicable exercise price in respect of the Optional Amount shall be
reduced by the per share dividend amount. Each daily Optional Amount exercise shall be aggregated during the Pricing Period and settled on the next Settlement Date. The Optional Amount Threshold Price designated by the Company in its Fixed Request
Notice shall apply to each Optional Amount exercised during the applicable Pricing Period. 
 Section 2.10 Calculation of
Optional Amount Shares. The number of shares of Common Stock to be issued in connection with the exercise of an Optional Amount shall be the quotient determined pursuant to the following equation (rounded to the nearest whole Share):

  

			
		
	 O =
	 	A/(B x C), where:
		
	 O =
	 	the number of shares of Common Stock to be issued in connection with such Optional Amount exercise,
		
	 A =
	 	the Optional Amount Dollar Amount with respect to which the Investor has delivered an Optional Amount Notice,
		
	 B =
	 	the applicable percentage determined in accordance with the price and shares amount parameters set forth in Section 2.2 (with the Optional Amount Threshold Price serving as the
Threshold Price for such purposes), and
		
	 C =
	 	the greater of (i) the VWAP for the Common Stock on the day the Investor delivers the Optional Amount Notice or (ii) the Optional Amount Threshold Price.

  
 7 

 Section 2.11 Exercise of Optional Amount. If granted by the Company to the
Investor with respect to a Pricing Period, all or any portion of the Optional Amount may be exercised by the Investor on any Trading Day during the Pricing Period, subject to the limitations set forth in Section 2.9. As a condition to each
exercise of an Optional Amount pursuant to this Section 2.11, the Investor shall issue an Optional Amount Notice to the Company no later than 8:00 p.m. (New York time) on the day of such Optional Amount exercise. If the Investor does not
exercise an Optional Amount in full by 8:00 p.m. (New York time) on the last Trading Day of the applicable Pricing Period, such unexercised portion of the Investor’s Optional Amount with respect to that Pricing Period automatically shall lapse
and terminate. 
 Section 2.12 Aggregate Limit. Notwithstanding anything to the contrary contained in this
Agreement, in no event may the Company issue a Fixed Request Notice or grant an Optional Amount to the extent that (a) the sale of Shares pursuant thereto and pursuant to all prior Fixed Request Notices and Optional Amounts issued hereunder,
and as partial damages pursuant to Section 9.1(ii), would cause the Company to sell or the Investor to purchase Shares which in the aggregate are in excess of the Aggregate Limit, or (b) the sale of Shares pursuant thereto would cause the
Company to sell or the Investor to purchase a number of shares of Common Stock which, when aggregated with (i) all shares of Common Stock issued or sold pursuant to this Agreement, the Terminated Facility or the Prior Agreement within the
six-month period immediately preceding the sale of such Shares and (ii) all other shares of Common Stock issued or sold pursuant to any transaction or series of transactions during the Investment Period preceding the sale of such Shares that
would be aggregated with the transactions contemplated by the applicable Fixed Request Notice or Optional Amount for purposes of determining whether approval of the Company’s stockholders is required under any bylaw, listed securities
maintenance standards or other rules of the Trading Market (including, without limitation, any issuances or sales of Common Stock pursuant to any Other Financing), would exceed that number of shares of Common Stock which is one less than 20.0% of
the issued and outstanding shares of Common Stock as of the date immediately prior to the earliest of such issuance or sale (the “Single Fixed Request Trading Market Limit”). If the Company issues a Fixed Request Notice or Optional
Amount that otherwise would permit the Investor to purchase shares of Common Stock which would cause the aggregate purchases by Investor hereunder to exceed the Aggregate Limit, such Fixed Request Notice or Optional Amount shall be void ab
initio to the extent of the amount by which the dollar value of shares or number of shares, as the case may be, of Common Stock otherwise issuable pursuant to such Fixed Request Notice or Optional Amount together with the dollar value of shares
or number of shares, as the case may be, of all other Common Stock purchased by the Investor pursuant hereto, or issued as partial damages pursuant to Section 9.1(ii), would exceed the Aggregate Limit. If the Company issues a Fixed Request
Notice or Optional Amount that otherwise would permit the Investor to purchase shares of Common Stock which would cause the aggregate purchases of Common Stock by the Investor pursuant to any transaction or series of transactions that would be
aggregated for purposes of determining whether approval of the Company’s stockholders is required under any bylaw, listed securities maintenance standards or other rules of the Trading Market to exceed the Single Fixed Request Trading Market
Limit, such Fixed Request Notice or Optional Amount, as the case may be, shall be void ab initio to the extent of the amount by which the number of shares of Common Stock otherwise issuable pursuant to such Fixed Request Notice or Optional
Amount, as the case may be, together with all shares of Common Stock purchased by the Investor pursuant to all such other aggregated transactions, would exceed the Single Fixed Request Trading Market Limit.

  
 8 

 
The Company hereby represents, warrants and covenants that, except pursuant to the Prior Agreement, neither it nor any of its Subsidiaries (i) has effected any transaction or series of
transactions, (ii) is a party to any pending transaction or series of transactions or (iii) shall enter into any contract, agreement, agreement-in-principle, arrangement or understanding with respect to, or shall effect, any Other
Financing which, in any of such cases, may be aggregated with the transactions contemplated by this Agreement for purposes of determining whether approval of the Company’s stockholders is required under any bylaw, listed securities maintenance
standards or other rules of the Trading Market; provided, however, that the Company shall be permitted to take any action referred to in clause (iii) above if (a) the Company has timely provided the Investor with an
Integration Notice as provided in Section 5.6(ii) hereof and (b) unless the Investor has previously terminated this Agreement pursuant to Section 7.2, the Company obtains any requisite stockholder approval which may be required for
the Company to consummate such Other Financing described in such Integration Notice. 
 At the Company’s sole discretion,
and effective automatically upon delivery of notice thereof by the Company to the Investor, this Agreement may be amended by the Company from time to time to reduce the Aggregate Limit by a specified dollar amount and/or number of shares of Common
Stock as shall be determined by the Company in its sole discretion; provided, however, that any such amendment of this Agreement (and any such purported amendment) shall be void and of no force and effect if the effect thereof would
restrict, materially delay, conflict with or impair the ability or right of the Company to perform its obligations under this Agreement, including, without limitation, the obligation of the Company to deliver the Shares to the Investor in respect of
a previously delivered Fixed Request Notice or Optional Amount on the applicable Settlement Date. In the event the Company shall have elected to reduce the Aggregate Limit as provided in the immediately preceding sentence, at the Company’s sole
discretion, and effective automatically upon delivery of notice thereof by the Company to the Investor, the Company may subsequently amend this Agreement to increase the Aggregate Limit up to $35,000,000; provided, however, that in no
event shall the Company be entitled to issue Fixed Requests and grant Optional Amounts during the remainder of the Investment Period for an aggregate amount greater than the amount obtained by subtracting (x) the aggregate of all Fixed Request
Amounts and Optional Amount Dollar Amounts (including any amounts paid as partial damages pursuant to Section 9.1(ii) hereunder) covered by all Fixed Requests and Optional Amounts theretofore issued or granted by the Company in respect of which
a settlement has occurred pursuant to Section 2.7 from (y) $35,000,000, subject in all cases to the Trading Market Limit. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES OF THE INVESTOR

 The Investor hereby makes the following representations and warranties to the Company: 

Section 3.1 Organization and Standing of the Investor. The Investor is an international business company duly organized,
validly existing and in good standing under the laws of the British Virgin Islands. 
 Section 3.2 Authorization and
Power. The Investor has the requisite corporate power and authority to enter into and perform its obligations under this Agreement and to 

  
 9 

 
purchase the Shares in accordance with the terms hereof. The execution, delivery and performance of this Agreement by the Investor and the consummation by it of the transactions contemplated
hereby have been duly authorized by all necessary corporate action, and no further consent or authorization of the Investor, its Board of Directors or stockholders is required. This Agreement has been duly executed and delivered by the Investor.
This Agreement constitutes a valid and binding obligation of the Investor enforceable against it in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation, conservatorship, receivership, or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including any limitation of equitable
remedies). 
 Section 3.3 No Conflicts. The execution, delivery and performance by the Investor of this Agreement
and the consummation by the Investor of the transactions contemplated herein do not and shall not (i) result in a violation of such Investor’s charter documents, bylaws or other applicable organizational instruments, (ii) conflict
with, constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material agreement, mortgage, deed of
trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Investor is a party or is bound, (iii) create or impose any lien, charge or encumbrance on any property of the Investor under any agreement or any
commitment to which the Investor is party or under which the Investor is bound or under which any of its properties or assets are bound, or (iv) result in a violation of any federal, state, local or foreign statute, rule, or regulation, or any
order, judgment or decree of any court or governmental agency applicable to the Investor or by which any of its properties or assets are bound or affected, except, in the case of clauses (ii), (iii) and (iv), for such conflicts, defaults,
terminations, amendments, acceleration, cancellations and violations as would not, individually or in the aggregate, prohibit or otherwise interfere with the ability of the Investor to enter into and perform its obligations under this Agreement in
any material respect. The Investor is not required under federal, state, local or foreign law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order
for it to execute, deliver or perform any of its obligations under this Agreement or to purchase the Shares in accordance with the terms hereof; provided, however, that for purposes of the representations made in this sentence, the
Investor is assuming and relying upon the accuracy of the relevant representations and warranties and the compliance with the relevant covenants and agreements of the Company in this Agreement. 

Section 3.4 Information. All materials relating to the business, financial condition, management and operations of the
Company and materials relating to the offer and sale of the Shares which have been requested by the Investor have been furnished or otherwise made available to the Investor or its advisors (subject to Section 5.15 of this Agreement). The
Investor and its advisors have been afforded the opportunity to ask questions of representatives of the Company. The Investor has sought such accounting, legal and tax advice as it has considered necessary to make an informed investment decision
with respect to its acquisition of the Shares. The Investor understands that it (and not the Company) shall be responsible for its own tax liabilities that may arise as a result of this investment or the transactions contemplated by this Agreement.
The Investor is aware of all of its obligations under U.S. federal and applicable state securities laws and all rules and regulations promulgated thereunder in connection with this Agreement and the transactions contemplated hereby and the purchase
and sale of the Shares. 

  
 10 

 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES OF THE COMPANY 
 Except as set forth in the
disclosure schedule delivered by the Company to the Investor (which is hereby incorporated by reference in, and constitutes an integral part of, this Agreement) (the “Disclosure Schedule”), the Company hereby makes the following
representations and warranties to the Investor: 
 Section 4.1 Organization, Good Standing and Power. The Company
and each of its Subsidiaries is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation and has the requisite corporate power and authority to own, lease and operate its properties
and assets and to conduct its business as it is now being conducted and as presently proposed to be conducted. The Company and each Subsidiary is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction in
which the nature of the business conducted or property owned by it makes such qualification necessary, except for any jurisdiction in which the failure to be so qualified would not have a Material Adverse Effect. 

Section 4.2 Authorization, Enforcement. The Company has the requisite corporate power and authority to enter into and
perform this Agreement and to issue and sell the Shares in accordance with the terms hereof. Except for approvals of the Company’s Board of Directors or a committee thereof as may be required in connection with any issuance and sale of Shares
to the Investor hereunder (which approvals shall be obtained prior to the delivery of any Fixed Request Notice), the execution, delivery and performance by the Company of this Agreement and the consummation by it of the transactions contemplated
hereby have been duly and validly authorized by all necessary corporate action and no further consent or authorization of the Company or its Board of Directors or stockholders is required. This Agreement has been duly executed and delivered by the
Company and constitutes a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application (including any limitation of equitable
remedies). 
 Section 4.3 Capitalization. The authorized capital stock of the Company and the shares thereof
issued and outstanding were as set forth in the Commission Documents as of the dates reflected therein. All of the outstanding shares of Common Stock have been duly authorized and validly issued, and are fully paid and nonassessable. Except as set
forth in the Commission Documents and this Agreement, there are no agreements or arrangements under which the Company is obligated to register the sale of any securities under the Securities Act. Except as set forth in the Commission Documents, no
shares of Common Stock are entitled to preemptive rights and there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into or
exchangeable for, any shares of capital stock of the Company, other than as may have been issued or became issuable subsequent to the last filed Commission Document pursuant to the terms of an equity incentive plan maintained by the Company. Except
as set forth in the Commission Documents, there are no outstanding debt securities and no contracts, commitments, 

  
 11 

 
understandings, or arrangements by which the Company is or may become bound to issue additional shares of the capital stock of the Company or options, warrants, scrip, rights to subscribe to,
calls or commitments of any character whatsoever relating to, or securities or rights convertible into or exchangeable for, any shares of capital stock of the Company other than those issued or granted in the ordinary course of business pursuant to
the Company’s equity incentive and/or compensatory plans or arrangements. Except for customary transfer restrictions contained in agreements entered into by the Company to sell restricted securities or as set forth in the Commission Documents,
the Company is not a party to, and it has no Knowledge of, any agreement restricting the voting or transfer of any shares of the capital stock of the Company. Except as set forth in the Commission Documents, the offer and sale of all capital stock,
convertible or exchangeable securities, rights, warrants or options of the Company issued prior to the Effective Date complied with all applicable federal and state securities laws, and no stockholder has any right of rescission or damages or any
“put” or similar right with respect thereto that would have a Material Adverse Effect. Except as set forth in the Commission Documents, there are no securities or instruments containing anti-dilution or similar provisions that will be
triggered by this Agreement or the consummation of the transactions described herein. The Company has furnished or made available to the Investor via the Commission’s Electronic Data Gathering, Analysis and Retrieval System
(“EDGAR”) true and correct copies of the Company’s Certificate of Incorporation as in effect on the Effective Date (the “Charter”), and the Company’s Bylaws as in effect on the Effective Date (the
“Bylaws”). 
 Section 4.4 Issuance of Shares. The Shares to be issued under this Agreement have
been or will be (prior to the delivery of any Fixed Request Notice to the Investor hereunder), duly authorized by all necessary corporate action on the part of the Company. The Shares, when paid for in accordance with the terms of this Agreement,
shall be validly issued and outstanding, fully paid and nonassessable and free from all liens, charges, taxes, security interests, encumbrances, rights of first refusal, preemptive or similar rights and other encumbrances with respect to the issue
thereof. 
 Section 4.5 No Conflicts. The execution, delivery and performance by the Company of this Agreement and
the consummation by the Company of the transactions contemplated hereby do not and shall not (i) result in a violation of any provision of the Company’s Charter or Bylaws, (ii) conflict with or result in a breach or violation of any
of the terms or provisions of, or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give rise to any rights of termination, amendment, acceleration or cancellation of, any material
agreement, mortgage, deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company or any of its Significant Subsidiaries is a party or is bound, (iii) create or impose a lien, charge or
encumbrance on any property or assets of the Company or any of its Significant Subsidiaries under any agreement or any commitment to which the Company or any of its Significant Subsidiaries is a party or by which the Company or any of its
Significant Subsidiaries is bound or by which any of their respective properties or assets is subject, or (iv) result in a violation of any federal, state, local or foreign statute, rule, regulation, order, judgment or decree applicable to the
Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries are bound or affected (including federal and state securities laws and regulations and the rules and regulations of the Trading Market),
except, in the case of clauses (ii), (iii) and (iv), for such conflicts, defaults, terminations, amendments, acceleration, cancellations, liens, charges, 

  
 12 

 
encumbrances and violations as would not, individually or in the aggregate, have a Material Adverse Effect. The Company is not required under any federal, state, local or foreign law, rule or
regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency (including, without limitation, the Trading Market) in order for it to execute, deliver or perform any of its
obligations under this Agreement, or to issue and sell the Shares to the Investor in accordance with the terms hereof (other than any filings which may be required to be made by the Company with the Commission or the Trading Market subsequent to the
Effective Date, including but not limited to a Prospectus Supplement under Sections 1.4 and 5.9 of this Agreement, and any registration statement, prospectus or prospectus supplement which has been or may be filed pursuant to this Agreement);
provided, however, that, for purposes of the representation and warranty made in this sentence, the Company is assuming and relying on the accuracy of the representations and warranties of the Investor in this Agreement and the
compliance by it with its covenants and agreements contained herein. 
 Section 4.6 Commission Documents, Financial
Statements. (a) Except as disclosed in the Commission Documents, the Company has timely filed (giving effect to permissible extensions in accordance with Rule 12b-25 under the Exchange Act) all Commission Documents. The Company has
delivered or made available to the Investor via EDGAR or otherwise true and complete copies of the Commission Documents filed with or furnished to the Commission prior to the Effective Date (including, without limitation, the 2010 Form 10-K) and has
delivered or made available to the Investor via EDGAR or otherwise true and complete copies of all of the Commission Documents heretofore incorporated by reference in the Registration Statement and the Prospectus. No Subsidiary of the Company is
required to file or furnish any report, schedule, registration, form, statement, information or other document with the Commission. The Company has not provided to the Investor any information which, according to applicable law, rule or regulation,
was required to have been disclosed publicly by the Company but which has not been so disclosed, other than with respect to the transactions contemplated by this Agreement. As of its filing date, each Commission Document filed with or furnished to
the Commission and incorporated by reference in the Registration Statement and the Prospectus (including, without limitation, the 2010 Form 10-K) complied in all material respects with the requirements of the Securities Act or the Exchange Act, as
applicable, and other federal, state and local laws, rules and regulations applicable to it, and, as of its filing date (or, if amended or superseded by a filing prior to the Effective Date, on the date of such amended or superseded filing), such
Commission Document did not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading. Each Commission Document to be filed with or furnished to the Commission after the Effective Date and incorporated by reference in the Registration Statement, the Prospectus and any Prospectus Supplement required to be filed
pursuant to Sections 1.4 and 5.9 hereof during the Investment Period (including, without limitation, the Current Report), when such document is filed with or furnished to the Commission or, if applicable, when such document becomes effective, as the
case may be, shall comply in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and other federal, state and local laws, rules and regulations applicable to it, and shall not contain any untrue
statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company has delivered or
made available to the Investor via EDGAR or 

  
 13 

 
otherwise true and complete copies of all comment letters and substantive correspondence received by the Company from the Commission relating to the Commission Documents filed with or furnished
to the Commission as of the Effective Date, together with all written responses of the Company thereto in the form such responses were filed via EDGAR. There are no outstanding or unresolved comments or undertakings in such comment letters received
by the Company from the Commission. The Commission has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company under the Securities Act or the Exchange Act. 

(b) The financial statements, together with the related notes and schedules, of the Company included in the Commission Documents comply
as to form in all material respects with all applicable accounting requirements and the published rules and regulations of the Commission and all other applicable rules and regulations with respect thereto. Such financial statements, together with
the related notes and schedules, have been prepared in accordance with GAAP applied on a consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto or (ii) in
the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed or summary statements and are subject to normal year-end audit adjustments), and fairly present in all material respects the financial
condition of the Company and its consolidated Subsidiaries as of the dates thereof and the results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments).

 (c) The Company has timely filed with the Commission and made available to the Investor via EDGAR or otherwise all
certifications and statements required by (x) Rule 13a-14 or Rule 15d-14 under the Exchange Act or (y) 18 U.S.C. Section 1350 (Section 906 of the Sarbanes-Oxley Act of 2002 (“SOXA”)) with respect to all relevant
Commission Documents. The Company is in compliance in all material respects with the provisions of SOXA applicable to it as of the date hereof. The Company maintains disclosure controls and procedures required by Rule 13a-15 or Rule 15d-15 under the
Exchange Act; and, except as set forth in the Commission Documents, such controls and procedures are effective to ensure that all material information concerning the Company and its Subsidiaries is made known on a timely basis to the individuals
responsible for the timely and accurate preparation of the Company’s Commission filings and other public disclosure documents. As used in this Section 4.6(c), the term “file” shall be broadly construed to include any manner in
which a document or information is furnished, supplied or otherwise made available to the Commission. 
 (d)
Pricewaterhousecoopers LLP, who have expressed their opinion on the audited financial statements of the Company and related schedules included or incorporated by reference in the Registration Statement and the Base Prospectus, are, with respect to
the Company, independent public accountants as required by the Securities Act and each is an independent registered public accounting firm within the meaning of SOXA as required by the rules of the Public Company Accounting Oversight Board.

 Section 4.7 Subsidiaries. Exhibit 21.1 to the 2010 Form 10-K sets forth each Subsidiary of the Company as of
the Effective Date, showing its jurisdiction of incorporation or organization, and the Company does not have any other Subsidiaries as of the Effective Date. 

  
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 Section 4.8 No Material Adverse Effect. Except as disclosed in any
Commission Documents filed since December 31, 2010 or which may be deemed to have resulted from the Company’s continued losses from operations, (i) since December 31, 2010, the Company has not experienced or suffered any Material
Adverse Effect, and (ii) there exists no current state of facts, condition or event which would have a Material Adverse Effect. 
 Section 4.9 No Undisclosed Liabilities. Neither the Company nor any of its Subsidiaries has any liabilities, obligations, claims or losses (whether liquidated or unliquidated, secured or
unsecured, absolute, accrued, contingent or otherwise) that would be required to be disclosed on a balance sheet of the Company or any Subsidiary (including the notes thereto) in conformity with GAAP and are not disclosed in the Commission
Documents, other than those incurred in the ordinary course of the Company’s or its Subsidiaries respective businesses since December 31, 2010 and which, individually or in the aggregate, do not or would not have a Material Adverse Effect.

 Section 4.10 No Undisclosed Events or Circumstances. No event or circumstance has occurred or information
exists with respect to the Company or any of its Subsidiaries or its or their business, properties, liabilities, operations (including results thereof) or conditions (financial or otherwise), which, under applicable law, rule or regulation, requires
public disclosure or announcement by the Company at or before the Closing but which has not been so publicly announced or disclosed, except for events or circumstances which, individually or in the aggregate, do not or would not have a Material
Adverse Effect. 
 Section 4.11 Indebtedness; Solvency. The Company’s Quarterly Report on Form 10-Q for its
fiscal quarter ended June 30, 2011 sets forth, as of June 30, 2011, all outstanding secured and unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments through such date. For the
purposes of this Agreement, “Indebtedness” shall mean (a) any liabilities for borrowed money or amounts owed in excess of $10,000,000 (other than trade accounts payable incurred in the ordinary course of business), (b) all
guaranties, endorsements, indemnities and other contingent obligations in respect of Indebtedness of others in excess of $10,000,000, whether or not the same are or should be reflected in the Company’s balance sheet (or the notes thereto),
except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (c) the present value of any lease payments in excess of $10,000,000 due under leases required
to be capitalized in accordance with GAAP. There is no existing or continuing default or event of default in respect of any Indebtedness of the Company or any of its Subsidiaries. The Company has not taken any steps, and does not currently expect to
take any steps, to seek protection pursuant to Title 11 of the United States Code or any similar federal or state bankruptcy law or law for the relief of debtors, nor does the Company have any Knowledge that its creditors intend to initiate
involuntary bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings for relief under Title 11 of the United States Code or any other federal or state bankruptcy law or any law for the relief of debtors. The Company is
financially solvent and is generally able to pay its debts as they become due. 
 Section 4.12 Title To Assets.
Each of the Company and its Subsidiaries has good and valid title to, or has valid rights to lease or otherwise use, all of their respective real and personal property reflected in the Commission Documents, free of mortgages, pledges, charges,
liens, 

  
 15 

 
security interests or other encumbrances, except for those indicated in the Commission Documents and those that would not have a Material Adverse Effect. All real property and facilities held
under lease by the Company or any of its Subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and
buildings by the Company or any of its Subsidiaries. 
 Section 4.13 Actions Pending. There is no action, suit,
claim, investigation or proceeding pending, or, to the Knowledge of the Company threatened, against the Company or any Subsidiary which questions the validity of this Agreement or the transactions contemplated hereby or any action taken or to be
taken pursuant hereto. Except as set forth in the Commission Documents, there is no action, suit, claim, investigation or proceeding pending, or to the Knowledge of the Company threatened, against or involving the Company, any Subsidiary or any of
their respective properties or assets, or involving any officers or directors of the Company or any of its Subsidiaries, including, without limitation, any securities class action lawsuit or stockholder derivative lawsuit related to the Company, in
each case which, if determined adversely to the Company, its Subsidiary or any officer or director of the Company or its Subsidiaries, would have a Material Adverse Effect. Except as set forth in the Commission Documents, no judgment, order, writ,
injunction or decree or award has been issued by or, to the Knowledge of the Company, requested of any court, arbitrator or governmental agency which would be reasonably expected to result in a Material Adverse Effect. 

Section 4.14 Compliance With Law. The business of the Company and the Subsidiaries has been and is presently being
conducted in compliance with all applicable federal, state, local and foreign governmental laws, rules, regulations and ordinances, except as set forth in the Commission Documents and except for such non-compliance which, individually or in the
aggregate, would not have a Material Adverse Effect. Neither the Company nor any of its Subsidiaries is in violation of any judgment, decree or order or any statute, ordinance, rule or regulation applicable to the Company or any of its Subsidiaries,
and neither the Company nor any of its Subsidiaries will conduct its business in violation of any of the foregoing, except in all cases for possible violations which could not, individually or in the aggregate, have a Material Adverse Effect.
Without limiting the generality of the foregoing, except as disclosed in the Commission Documents, the Company has maintained all requirements for the continued listing or quotation of its Common Stock on the Trading Market, and the Company is not
in violation of any of the rules, regulations or requirements of the Trading Market and has no Knowledge of any facts or circumstances that could reasonably lead to delisting or suspension of the Common Stock by the Trading Market in the foreseeable
future other than the possible failure to meet the Trading Market minimum bid price requirement. 
 Section 4.15 Certain
Fees. Except for the placement fee payable by the Company to Reedland Capital Partners, an Institutional Division of Financial West Group, Member FINRA/SIPC (“Reedland”), which shall be set forth in a separate engagement
letter between the Company and Reedland (a true and complete fully executed copy of which has heretofore been provided to the Investor) (the “Placement Agent Engagement Letter”), no brokers, finders or financial advisory fees or
commissions shall be payable by the Company or any Subsidiary (or any of their respective Affiliates) with respect to the transactions contemplated by this Agreement. 

  
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 Section 4.16 Operation of Business. (a) The Company or one or more of its
Subsidiaries possesses such permits, licenses, approvals, consents and other authorizations (including licenses, accreditation and other similar documentation or approvals of any local health departments) issued by the appropriate federal, state,
local or foreign regulatory agencies or bodies as are necessary to conduct the business now operated by it (collectively, “Governmental Licenses”), except where the failure to possess such Governmental Licenses, individually or in
the aggregate, would not have a Material Adverse Effect. The Company and its Subsidiaries are in compliance with the terms and conditions of all such Governmental Licenses, except where the failure to so comply, individually or in the aggregate,
would not have a Material Adverse Effect or except as otherwise disclosed in the Commission Documents. All of the Governmental Licenses are valid and in full force and effect, except where the invalidity of such Governmental Licenses or the failure
of such Governmental Licenses to be in full force and effect, individually or in the aggregate, would not have a Material Adverse Effect or except as otherwise disclosed in the Commission Documents. Except as set forth in the Commission Documents or
the Registration Statement, neither the Company nor any of its Subsidiaries has received any written notice of proceedings relating to the revocation or modification of any such Governmental Licenses which, if the subject of any unfavorable
decision, ruling or finding, individually or in the aggregate, would have a Material Adverse Effect. This Section 4.16 does not relate to environmental matters, such items being the subject of Section 4.17. 

(b) The Company or one or more of its Subsidiaries owns or possesses adequate patents, patent rights, licenses, inventions, copyrights,
know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names, trade dress, logos, copyrights and other intellectual property,
including, without limitation, all of the intellectual property described in the Commission Documents as being owned or licensed by the Company (collectively, “Intellectual Property”), necessary to carry on the business now operated
by it, except where the failure to own, license, or have such rights would not, individually or in the aggregate, have a Material Adverse Effect. Except as set forth in the Commission Documents, there are no actions, suits or judicial proceedings
pending, or to the Company’s Knowledge threatened, relating to patents or proprietary information to which the Company or any of its Subsidiaries is a party or of which any property of the Company or any of its Subsidiaries is subject, and
neither the Company nor any of its Subsidiaries has received any notice or is otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances which could
render any Intellectual Property invalid or inadequate to protect the interest of the Company and its Subsidiaries therein, and which infringement or conflict (if the subject of any unfavorable decision, ruling or finding) or invalidity or
inadequacy, individually or in the aggregate, would have a Material Adverse Effect. 
 Section 4.17 Environmental
Compliance. Except as disclosed in the Commission Documents, the Company and each of its Subsidiaries have obtained all material approvals, authorization, certificates, consents, licenses, orders and permits or other similar authorizations
of all governmental authorities, or from any other Person, that are required under any Environmental Laws, except for any approvals, authorization, certificates, consents, licenses, orders and permits or other similar authorizations the failure of
which to obtain does not or would not have a Material Adverse Effect. “Environmental Laws” shall mean all applicable laws relating to the protection of the environment including, without limitation, all requirements

  
 17 

 
pertaining to reporting, licensing, permitting, controlling, investigating or remediating emissions, discharges, releases or threatened releases of hazardous substances, chemical substances,
pollutants, contaminants or toxic substances, materials or wastes, whether solid, liquid or gaseous in nature, into the air, surface water, groundwater or land, or relating to the manufacture, processing, distribution, use, treatment, storage,
disposal, transport or handling of hazardous substances, chemical substances, pollutants, contaminants or toxic substances, material or wastes, whether solid, liquid or gaseous in nature. Except for such instances as would not, individually or in
the aggregate, have a Material Adverse Effect, to the Company’s Knowledge, there are no past or present events, conditions, circumstances, incidents, actions or omissions relating to or in any way affecting the Company or its Subsidiaries that
violate or could reasonably be expected to violate any Environmental Law after the Effective Date or that could reasonably be expected to give rise to any environmental liability, or otherwise form the basis of any claim, action, demand, suit,
proceeding, hearing, study or investigation (i) under any Environmental Law, or (ii) based on or related to the manufacture, processing, distribution, use, treatment, storage (including without limitation underground storage tanks),
disposal, transport or handling, or the emission, discharge, release or threatened release of any hazardous substance. 

Section 4.18 Material Agreements. Except as set forth in the Commission Documents, neither the Company nor any Subsidiary
of the Company is a party to any written or oral contract, instrument, agreement commitment, obligation, plan or arrangement, a copy of which would be required to be filed with the Commission as an exhibit to an annual report on Form 10-K
(collectively, “Material Agreements”). Except as set forth in the Commission Documents, the Company and each of its Subsidiaries have performed in all material respects all the obligations then required to be performed by them under
the Material Agreements, have received no notice of default or an event of default by the Company or any of its Subsidiaries thereunder and are not aware of any basis for the assertion thereof, and neither the Company or any of its Subsidiaries nor,
to the Knowledge of the Company, any other contracting party thereto are in default under any Material Agreement now in effect, the result of which would have a Material Adverse Effect. Except as set forth in the Commission Documents, each of the
Material Agreements is in full force and effect, and constitutes a legal, valid and binding obligation enforceable in accordance with its terms against the Company and/or any of its Subsidiaries and, to the Knowledge of the Company, each other
contracting party thereto, except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement
of, creditor’s rights and remedies or by other equitable principles of general application. 
 Section 4.19
Transactions With Affiliates. Except as set forth in the Commission Documents, there are no loans, leases, agreements, contracts, royalty agreements, management contracts, service arrangements or other continuing transactions exceeding
$120,000 between (a) the Company or any Subsidiary, on the one hand, and (b) any Person who would be covered by Item 404(a) of Regulation S-K, on the other hand. Except as disclosed in the Commission Documents, there are no
outstanding amounts payable to or receivable from, or advances by the Company or any of its Subsidiaries to, and neither the Company nor any of its Subsidiaries is otherwise a creditor of or debtor to, any beneficial owner of more than 5% of the
outstanding shares of Common Stock, or any director, employee or Affiliate of the Company or any of its Subsidiaries, other than (i) reimbursement for reasonable expenses incurred on behalf of the

  
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Company or any of its Subsidiaries or (ii) as part of the normal and customary terms of such persons’ employment or service as a director with the Company or any of its Subsidiaries.

 Section 4.20 Securities Act; FINRA Rules. The Company has complied with all applicable federal and state
securities laws in connection with the offer, issuance and sale of the Shares contemplated by this Agreement. 
 (i) The Company
has prepared and filed with the Commission in accordance with the provisions of the Securities Act the Registration Statement, including a base prospectus relating to the Shares. The Registration Statement was declared effective by order of the
Commission on July 29, 2011. As of the date hereof, no stop order suspending the effectiveness of the Registration Statement has been issued by the Commission or is continuing in effect under the Securities Act and no proceedings therefor are
pending before or, to the Company’s Knowledge, threatened by the Commission. No order preventing or suspending the use of the Prospectus or any Permitted Free Writing Prospectus has been issued by the Commission. 

(ii) As of the Effective Date, the Company satisfies all of the requirements for the use of Form S-3 under the Securities Act for the
offering and sale of the Shares contemplated by this Agreement (without reliance on General Instruction I.B.6. of Form S-3). If, during the term of this Agreement, the Company becomes subject to General Instruction I.B.6. of Form S-3, the Company
hereby confirms that for as long as the Company is subject to General Instruction I.B.6. of Form S-3 during the term of this Agreement, the Company shall not offer or sell any securities in reliance on General Instruction I.B.6. of Form S-3 to the
extent the aggregate market value of such securities, when aggregated with the aggregate market value of all of the Shares that have been sold pursuant to this Agreement in the 12 calendar months immediately prior to and including such sale in
reliance on General Instruction I.B.6. of Form S-3, exceeds the aggregate market value limitations imposed by General Instruction I.B.6. of Form S-3, calculated in accordance with Instructions 1 and 2 to General Instruction I.B.6. of Form S-3. The
Company is not, and has not previously been at any time, a “shell company” (as such term is defined in Rule 405 under the Securities Act). 
 (iii) The Commission has not notified the Company of any objection to the use of the form of the Registration Statement pursuant to Rule 401(g)(1) under the Securities Act. The Registration Statement
complied in all material respects on the date on which it was declared effective by the Commission, and will comply in all material respects at each deemed effective date with respect to the Investor pursuant to Rule 430B(f)(2) of the Securities
Act, with the requirements of the Securities Act, and the Registration Statement (including the documents incorporated by reference therein) did not on the date it was declared effective by the Commission, and shall not at each deemed effective date
with respect to the Investor pursuant to Rule 430B(f)(2) of the Securities Act, contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading;
provided that this representation and warranty does not apply to statements in or omissions from the Registration Statement made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing
by or on behalf of the Investor expressly for use therein. The Registration Statement, as of the Effective Date, meets the requirements set forth in Rule 415(a)(1)(x) under the Securities Act. The Base Prospectus complied in all material respects on
its date and on the Effective Date, and will comply in all 

  
 19 

 
material respects on each applicable Fixed Request Exercise Date and, when taken together with the applicable Prospectus Supplement and any applicable Permitted Free Writing Prospectus, on each
applicable Settlement Date, with the requirements of the Securities Act and did not on its date and on the Effective Date and shall not on each applicable Fixed Request Exercise Date and, when taken together with the applicable Prospectus Supplement
and any applicable Permitted Free Writing Prospectus, on each applicable Settlement Date contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading; provided that this representation and warranty does not apply to statements in or omissions from the Base Prospectus, each applicable Prospectus Supplement and any
Permitted Free Writing Prospectus made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. 

(iv) The offering of the Shares pursuant to this Agreement qualifies for the exemption from the filing requirements of Rule 5110 of the
Financial Industry Regulatory Authority (“FINRA”) afforded by FINRA Rule 5110(b)(7)(C)(i). 
 (v) Each
Prospectus Supplement required to be filed pursuant to Sections 1.4 and 5.9 hereof, when taken together with the Base Prospectus and any applicable Permitted Free Writing Prospectus, on its date and on the applicable Settlement Date, shall comply in
all material respects with the provisions of the Securities Act and shall not on its date and on the applicable Settlement Date contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which they are made, not misleading, except that this representation and warranty does not apply to statements in or omissions from any Prospectus Supplement made in
reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf of the Investor expressly for use therein. 
 (vi) At the earliest time after the filing of the Registration Statement that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) under the Securities
Act) relating to the Shares, the Company was not and is not an “ineligible issuer” (as defined in Rule 405 under the Securities Act). Each Permitted Free Writing Prospectus (a) shall conform in all material respects to the
requirements of the Securities Act on the date of its first use, (b) when considered together with the Prospectus on each applicable Fixed Request Exercise Date and on each applicable Settlement Date, shall not contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they are made, not misleading, and (c) shall not include any information
that conflicts with the information contained in the Registration Statement, including any document incorporated by reference therein and any Prospectus Supplement deemed to be a part thereof that has not been superseded or modified. The immediately
preceding sentence does not apply to statements in or omissions from any Permitted Free Writing Prospectus made in reliance upon and in conformity with information relating to the Investor furnished to the Company in writing by or on behalf of the
Investor expressly for use therein. 

  
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 (vii) Prior to the Effective Date, the Company has not distributed any offering material in
connection with the offering and sale of the Shares. From and after the Effective Date and prior to the completion of the distribution of the Shares, the Company shall not distribute any offering material in connection with the offering and sale of
the Shares, other than the Registration Statement, the Base Prospectus as supplemented by any Prospectus Supplement or a Permitted Free Writing Prospectus. 
 Section 4.21 Employees. Neither the Company nor any Subsidiary of the Company has any collective bargaining arrangements or agreements covering any of its employees, except as set forth in
the Commission Documents. Except as disclosed in the Registration Statement or the Commission Documents, no officer, consultant or key employee of the Company or any Subsidiary whose termination, either individually or in the aggregate, would
reasonably be expected to have a Material Adverse Effect, has terminated or, to the Knowledge of the Company, has any present intention of terminating his or her employment or engagement with the Company or any Subsidiary. 

Section 4.22 Use of Proceeds. The proceeds from the sale of the Shares shall be used by the Company and its Subsidiaries as
set forth in the Base Prospectus and any Prospectus Supplement filed pursuant to Sections 1.4 and 5.9. 
 Section 4.23
Investment Company Act Status. The Company is not, and as a result of the consummation of the transactions contemplated by this Agreement and the application of the proceeds from the sale of the Shares as set forth in the Base Prospectus
and any Prospectus Supplement shall not be required to be registered as, an “investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as
amended. 
 Section 4.24 ERISA. No liability to the Pension Benefit Guaranty Corporation has been incurred with
respect to any Plan by the Company or any of its Subsidiaries which has had or would have a Material Adverse Effect. No “prohibited transaction” (as defined in Section 406 of ERISA or Section 4975 of the Code) or
“accumulated funding deficiency” (as defined in Section 302 of ERISA) or any of the events set forth in Section 4043(b) of ERISA has occurred with respect to any Plan which has had or would have a Material Adverse Effect, and the
execution and delivery of this Agreement and the issuance and sale of the Shares hereunder shall not result in any of the foregoing events. Each Plan is in compliance in all material respects with applicable law, including ERISA and the Code; the
Company has not incurred and does not expect to incur liability under Title IV of ERISA with respect to the termination of, or withdrawal from, any Plan; and each Plan for which the Company would have any liability that is intended to be qualified
under Section 401(a) of the Code is so qualified in all material respects and nothing has occurred, whether by action or failure to act, which would cause the loss of such qualifications. As used in this Section 4.24, the term
“Plan” shall mean an “employee pension benefit plan” (as defined in Section 3 of ERISA) which is or has been established or maintained, or to which contributions are or have been made, by the Company or any Subsidiary
or by any trade or business, whether or not incorporated, which, together with the Company or any Subsidiary, is under common control, as described in Section 414(b) or (c) of the Code. 

  
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 Section 4.25 Taxes. The Company and each of its Subsidiaries (i) has
filed all federal, state and foreign income and franchise tax returns or has duly requested extensions thereof, except for those the failure of which to file would not have a Material Adverse Effect, (ii) has paid all federal, state, local and
foreign taxes due and payable for which it is liable, except to the extent that any such taxes are being contested in good faith and by appropriate proceedings, except for such taxes the failure of which to pay would not have a Material Adverse
Effect, and (iii) does not have any tax deficiency or claims outstanding or assessed or, to the Company’s Knowledge, proposed against it which would have a Material Adverse Effect. There are no unpaid taxes in any material amount claimed
to be due by the taxing authority of any jurisdiction, and the officers of the Company and its Subsidiaries know of no basis for any such claim. The Company is not operated in such a manner as to qualify as a passive foreign investment company, as
defined in Section 1297 of the U.S. Internal Revenue Code of 1986, as amended. 
 Section 4.26 Insurance. The
Company and its Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company
and its Subsidiaries are engaged. Neither the Company nor any such Subsidiary has been refused any insurance coverage sought or applied for, and neither the Company nor any such Subsidiary has any reason to believe that it will be unable to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect. 

Section 4.27 U.S. Real Property Holding Corporation. Neither the Company nor any of its Subsidiaries is, or has ever been,
and so long as any of the Shares are held by the Investor, shall become a U.S. real property holding corporation within the meaning of Section 897 of the Code. 
 Section 4.28 Dilutive Effect. The Company is aware and acknowledges that issuance of the Shares could cause dilution to existing stockholders and could significantly increase the outstanding
number of shares of Common Stock. 
 Section 4.29 Manipulation of Price. Neither the Company nor any of its
officers, directors or Affiliates has, and, to the Knowledge of the Company, no Person acting on their behalf has, (i) taken, directly or indirectly, any action designed or intended to cause or to result in the stabilization or manipulation of
the price of any security of the Company, or which caused or resulted in, or which would in the future reasonably be expected to cause or result in, the stabilization or manipulation of the price of any security of the Company, in each case to
facilitate the sale or resale of any of the Shares, or (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of, any of the Shares, other than, in the case of clause (ii), compensation paid to Reedland on the
Effective Date in connection with the placement of the Shares pursuant to the Placement Agent Engagement Letter. Neither the Company nor any of its officers, directors or Affiliates will during the term of this Agreement, and, to the Knowledge of
the Company, no Person acting on their behalf will during the term of this Agreement, take any of the actions referred to in the immediately preceding sentence, other than, in the case of clause 

  
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(ii), compensation paid to Reedland in connection with the settlement of each Fixed Request pursuant to the Placement Agent Engagement Letter. 

Section 4.30 Listing and Maintenance Requirements. The Company’s Common Stock is registered pursuant to
Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its Knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act, nor has the Company
received any notification that the Commission is contemplating terminating such registration. Except as disclosed in the Commission Documents, the Company has not, in the 12 months preceding the Effective Date, received notice from any Trading
Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the listing or maintenance requirements of such Trading Market. As of the Effective Date, the Company is in compliance with all
such listing and maintenance requirements. 
 Section 4.31 Application of Takeover Protections. The Company and
its Board of Directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover
provision under the Company’s Charter or the laws of its state of incorporation that is or could become applicable to the Investor as a result of the Investor and the Company fulfilling their respective obligations or exercising their
respective rights under this Agreement, including, without limitation, as a result of the Company’s issuance of the Shares and the Investor’s ownership of the Shares. 

Section 4.32 Acknowledgement Regarding Investor’s Acquisition of Shares. The Company acknowledges and agrees that the
Investor is acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that the Investor is not acting as a financial advisor or fiduciary
of the Company (or in any similar capacity) with respect to this Agreement or the transactions contemplated hereby, and any advice given by the Investor or any of its representatives or agents in connection with this Agreement or the transactions
contemplated hereby is merely incidental to the Investor’s acquisition of the Shares. The Company further represents to the Investor that the Company’s decision to enter into this Agreement has been based solely on the independent
evaluation of the transactions contemplated hereby by the Company and its representatives. The Company acknowledges and agrees that the Investor has not made and does not make any representations or warranties with respect to the transactions
contemplated by this Agreement other than those specifically set forth in Article III of this Agreement. 
 ARTICLE V

 COVENANTS 
 The Company covenants with the Investor, and the Investor covenants with the Company, as follows, which covenants of one party are for the benefit of the other party, during the Investment Period:

 Section 5.1 Securities Compliance. The Company shall notify the Trading Market, as necessary, in accordance
with its rules and regulations, of the transactions contemplated by this Agreement, and shall take all necessary action, undertake all proceedings and obtain all 

  
 23 

 
registrations, permits, consents and approvals for the legal and valid issuance of the Shares to the Investor in accordance with the terms of this Agreement. 

Section 5.2 Registration and Listing. The Company shall take all action necessary to cause the Common Stock to continue to
be registered as a class of securities under Sections 12(b) or 12(g) of the Exchange Act, shall comply with its reporting and filing obligations under the Exchange Act, and shall not take any action or file any document (whether or not permitted by
the Securities Act or the Exchange Act) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under the Exchange Act or Securities Act, except as permitted herein. The Company shall use its
reasonable best efforts to continue the listing and trading of its Common Stock and the listing of the Shares acquired or purchased by the Investor hereunder on the Trading Market and to comply with the Company’s reporting, filing and other
obligations under the bylaws, listed securities maintenance standards and other rules and regulations of the Trading Market. The Company shall not take any action which could reasonably be expected to result in the delisting or suspension (other
than any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to any Fixed Request Exercise Date) of the Common Stock on the Trading Market. 

Section 5.3 Compliance with Laws. 
 (i) The Company shall comply, and cause each Subsidiary to comply, (a) with all laws, rules, regulations and orders applicable to the business and operations of the Company and its Subsidiaries
except as would not have a Material Adverse Effect and (b) with all applicable provisions of the Securities Act and the Exchange Act, and the rules and regulations of the Trading Market. 

(ii) The Investor shall comply with all laws, rules, regulations and orders applicable to the performance by it of its obligations under
this Agreement and its investment in the Shares, except as would not, individually or in the aggregate, prohibit or otherwise interfere with the ability of the Investor to enter into and perform its obligations under this Agreement in any material
respect. Without limiting the foregoing, the Investor shall comply with all applicable provisions of the Securities Act and the Exchange Act. 
 Section 5.4 Keeping of Records and Books of Account; Foreign Corrupt Practices Act. 
 (i) The Company shall keep and cause each Subsidiary to keep adequate records and books of account, in which complete entries shall be made in accordance with GAAP consistently applied, reflecting all
financial transactions of the Company and its Subsidiaries, and in which, for each fiscal year, all proper reserves for depreciation, depletion, obsolescence, amortization, taxes, bad debts and other purposes in connection with its business shall be
made. The Company shall maintain a system of internal accounting controls that (a) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company;
(b) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being
made only in accordance with authorizations of management and directors of 

  
 24 

 
the Company; and (c) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company’s assets that could have a
material effect on the Company’s financial statements (it being acknowledged and agreed that the identification by the Company and/or its independent registered public accounting firm of any “significant deficiencies” or
“material weaknesses” (each as defined by the Public Company Accounting Oversight Board) in the Company’s internal controls over its financial reporting shall not, in and of itself, constitute a breach of this Section 5.4(i)).

 (ii) Neither the Company, nor any of its Subsidiaries, nor to the Knowledge of the Company, any of their respective
directors, officers, agents, employees or any other persons acting on their behalf shall, in connection with the operation of the Company’s and its Subsidiaries’ respective businesses, (a) use any corporate funds for unlawful
contributions, payments, gifts or entertainment or to make any unlawful expenditures relating to political activity to government officials, candidates or members of political parties or organizations, (b) pay, accept or receive any unlawful
contributions, payments, expenditures or gifts, or (c) violate or operate in noncompliance with any export restrictions, anti-boycott regulations, embargo regulations or other applicable domestic or foreign laws and regulations. 

(iii) Subject to the requirements of Section 5.15 of this Agreement, from time to time from and after the Effective Date, the
Company shall make available for inspection and review by the Investor during normal business hours and after reasonable notice, customary documentation reasonably requested by the Investor and/or its appointed counsel or advisors to conduct due
diligence. 
 Section 5.5 Limitations on Holdings and Issuances. The Company shall not issue and the Investor
shall not purchase any shares of Common Stock which, when aggregated with all other shares of Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by the
Investor and its Affiliates, would result in the beneficial ownership by the Investor of more than 9.9% of the then issued and outstanding shares of Common Stock. Promptly following any request by the Company, the Investor shall inform the Company
of the number of shares of Common Stock then beneficially owned by the Investor and its Affiliates. 
 Section 5.6 Other
Agreements and Other Financings. 
 (i) The Company shall not enter into, announce or recommend to its stockholders any
agreement, plan, arrangement or transaction in or of which the terms thereof would restrict, materially delay, conflict with or impair the ability or right of the Company or any Subsidiary to perform its obligations under this Agreement, including,
without limitation, the obligation of the Company to deliver the Shares to the Investor in respect of a previously provided Fixed Request Notice or Optional Amount on the applicable Settlement Date. For the avoidance of doubt, nothing in this
Section 5.6(i) shall in any way limit the Company’s right to terminate this Agreement in accordance with Section 7.1 (subject in all cases to Section 7.3). 
 (ii) If the Company enters into any agreement, plan, arrangement or transaction with a third party or seeks to utilize any existing agreement, plan or arrangement with a third party, in each case the
principal purpose of which is to implement, effect or consummate, 

  
 25 

 
at any time during the period beginning on the first Trading Day of any Pricing Period and ending on the second Trading Day next following the applicable Settlement Date (the “Reference
Period”), an Other Financing that does not constitute an Acceptable Financing, the Company shall provide prompt notice thereof (an “Other Financing Notice”) to the Investor; provided, however, that such Other
Financing Notice must be received by the Investor not later than the earlier of (a) 48 hours after the Company’s execution of any agreement, plan, arrangement or transaction relating to such Other Financing (or, with respect to any
existing agreement, plan or arrangement, 48 hours after the Company has determined to utilize any such existing agreement, plan or arrangement to implement, effect or consummate such Other Financing) and (b) the second Trading Day immediately
preceding the applicable Settlement Date with respect to the applicable Fixed Request Notice; provided, further, that the Company shall notify the Investor within 24 hours (an “Integration Notice”) if it enters into
any agreement, plan, arrangement or transaction with a third party (other than pursuant to the Prior Agreement), the principal purpose of which is to obtain at any time during the Investment Period an Other Financing that the Company reasonably
believes upon the advice of counsel may be aggregated with the transactions contemplated by this Agreement for purposes of determining whether approval of the Company’s stockholders is required under any bylaw, listed securities maintenance
standards or other rules of the Trading Market and, if required under applicable law, including, without limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Trading Market, the Company shall
publicly disclose such information in accordance with Regulation FD and the applicable rules and regulations of the Trading Market. For purposes of this Section 5.6(ii), any press release issued by, or Commission Document filed by, the Company
shall constitute sufficient notice, provided that it is issued or filed, as the case may be, within the time requirements set forth in the first sentence of this Section 5.6(ii) for an Other Financing Notice or an Integration Notice, as
applicable. With respect to any Pricing Period for which the Company is required to provide an Other Financing Notice pursuant to the first sentence (including the provisos thereto) of this Section 5.6(ii), the Investor shall (i) have the
option to purchase the Shares subject to the Fixed Request at (x) the price therefor in accordance with the terms of this Agreement or (y) the third party’s per share purchase price in connection with the Other Financing, net of such
third party’s discounts, Warrant Value and fees, or (ii) the Investor may elect to not purchase any Shares subject to the Fixed Request for that Pricing Period. An “Other Financing” shall mean (w) the issuance of
Common Stock for a purchase price less than, or the issuance of securities convertible into or exchangeable for Common Stock at an exercise or conversion price (as the case may be) less than, the then Current Market Price of the Common Stock
(including, without limitation, pursuant to any “equity line” or other financing that is substantially similar to the financing provided for under this Agreement, or pursuant to any other transaction in which the purchase, conversion or
exchange price for such Common Stock is determined using a floating discount or other post-issuance adjustable discount to the then Current Market Price (any such transaction, a “Similar Financing”)), in each case, after all fees,
discounts, Warrant Value and commissions associated with the transaction (a “Below Market Offering”); (x) an “at-the-market” offering of Common Stock or securities convertible into or exchangeable for Common Stock
pursuant to Rule 415(a)(4) under the Securities Act (an “ATM”); (y) the implementation by the Company of any new mechanism in respect of any securities convertible into or exchangeable for Common Stock for the reset of the
purchase price of the Common Stock to below the then Current Market Price of the Common Stock (including, without limitation, any antidilution or similar adjustment 

  
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 provisions in respect of any Company securities, but specifically excluding customary antidilution
adjustments for stock splits, stock dividends, stock combinations, recapitalizations, reclassifications and similar events) (a “Price Reset Provision”); or (z) the issuance of options, warrants or similar rights of subscription
or the issuance of convertible equity or debt securities, in each case not constituting an Acceptable Financing. “Acceptable Financing” shall mean the issuance by the Company of: (1) debt securities or any class or series of
preferred stock of the Company, in each case that are not convertible into or exchangeable for Common Stock or securities convertible into or exchangeable for Common Stock; (2) shares of Common Stock or securities convertible into or
exchangeable for Common Stock other than in connection with a Below Market Offering or an ATM, and the issuance of shares of Common Stock upon the conversion, exercise or exchange thereof; (3) shares of Common Stock or securities convertible
into or exchangeable for Common Stock in connection with an underwritten public offering of equity securities of the Company or a registered direct public offering of equity securities of the Company, in each case where the price per share of such
Common Stock (or the conversion or exercise price of such securities, as applicable) is fixed concurrently with the execution of definitive documentation relating to such offering, and the issuance of shares of Common Stock upon the conversion,
exercise or exchange thereof; (4) shares of Common Stock or securities convertible into or exchangeable for Common Stock in connection with awards under the Company’s benefit and equity plans and arrangements or shareholder rights plan (as
applicable) and the issuance of shares of Common Stock upon the conversion, exercise or exchange thereof; (5) shares of Common Stock issuable upon the conversion, exercise or exchange of equity awards or convertible, exercisable or exchangeable
securities outstanding as of the Effective Date; (6) shares of Common Stock in connection with stock splits, stock dividends, stock combinations, recapitalizations, reclassifications and similar events; (7) shares of Common Stock or
securities convertible into or exercisable or exchangeable for Common Stock issued in connection with the acquisition, license or sale of one or more other companies, equipment, technologies, other assets or lines of business, and the issuance of
shares of Common Stock upon the conversion, exercise or exchange thereof; (8) shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock or similar rights to subscribe for the purchase of shares of
Common Stock in connection with technology sharing, collaboration, partnering, licensing, research and joint development agreements (or amendments thereto) with third parties, and the issuance of shares of Common Stock upon the conversion, exercise
or exchange thereof; (9) shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock to employees, consultants and/or advisors as consideration for services rendered or to be rendered, and the issuance
of shares of Common Stock upon conversion, exercise or exchange thereof; and (10) shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock issued in connection with capital or equipment financings
and/or real property lease arrangements, and the issuance of shares of Common Stock upon the conversion, exercise or exchange thereof. 
 Section 5.7 Stop Orders. The Company shall notify the Investor as soon as possible (but in no event later than 24 hours) and shall confirm such notification in writing: (i) of the
Company’s receipt of notice of any request by the Commission for amendment of or a supplement to the Registration Statement, the Prospectus, any Permitted Free Writing Prospectus or for any additional information; (ii) of the
Company’s receipt of notice of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or prohibiting or suspending the use of the Prospectus or any Prospectus Supplement, or of the

  
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suspension of qualification of the Shares for offering or sale in any jurisdiction, or the initiation or contemplated initiation of any proceeding for such purpose; and (iii) of the Company
becoming aware of the happening of any event, which makes any statement of a material fact made in the Registration Statement, the Prospectus or any Permitted Free Writing Prospectus untrue or which requires the making of any additions to or changes
to the statements then made in the Registration Statement, the Prospectus or any Permitted Free Writing Prospectus in order to state a material fact required by the Securities Act to be stated therein or necessary in order to make the statements
then made therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading, or of the necessity to amend the Registration Statement or supplement the Prospectus or any Permitted Free Writing Prospectus
to comply with the Securities Act or any other law. The Company shall not be required to disclose to the Investor the substance or specific reasons of any of the events set forth in clauses (i) through (iii) of the immediately preceding
sentence, but rather, shall only be required to disclose that the event has occurred. The Company shall not issue any Fixed Request during the continuation of any of the foregoing events. If at any time the Commission shall issue any stop order
suspending the effectiveness of the Registration Statement or prohibiting or suspending the use of the Prospectus or any Prospectus Supplement, the Company shall use commercially reasonable efforts to obtain the withdrawal of such order at the
earliest possible time. 
 Section 5.8 Amendments to the Registration Statement; Prospectus Supplements; Free Writing
Prospectuses. 
 (i) Except as provided in this Agreement and other than periodic and current reports required to be
filed pursuant to the Exchange Act, the Company shall not file with the Commission any amendment to the Registration Statement that relates to the Investor, this Agreement or the transactions contemplated hereby or file with the Commission any
Prospectus Supplement that relates to the Investor, this Agreement or the transactions contemplated hereby with respect to which (a) the Investor shall not previously have been advised, (b) the Company shall not have given due
consideration to any comments thereon received from the Investor or its counsel, or (c) the Investor shall reasonably object after being so advised, unless the Company reasonably has determined that it is necessary to amend the Registration
Statement or make any supplement to the Prospectus to comply with the Securities Act or any other applicable law or regulation, in which case the Company shall promptly (but in no event later than 24 hours) so inform the Investor, the Investor shall
be provided with a reasonable opportunity to review and comment upon any disclosure relating to the Investor and the Company shall expeditiously furnish to the Investor an electronic copy thereof. In addition, for so long as, in the reasonable
opinion of counsel for the Investor, the Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is required to be delivered in connection with any acquisition or sale of Shares by the Investor, the Company
shall not file any Prospectus Supplement with respect to the Shares without delivering or making available a copy of such Prospectus Supplement, together with the Base Prospectus, to the Investor promptly. 

(ii) The Company has not made, and agrees that unless it obtains the prior written consent of the Investor it will not make, an offer
relating to the Shares that would constitute an Issuer Free Writing Prospectus or that would otherwise constitute a Free Writing Prospectus required to be filed by the Company or the Investor with the Commission or retained by the Company or the
Investor under Rule 433 under the Securities Act. The Investor has not 

  
 28 

 
made, and agrees that unless it obtains the prior written consent of the Company it will not make, an offer relating to the Shares that would constitute a Free Writing Prospectus required to be
filed by the Company with the Commission or retained by the Company under Rule 433 under the Securities Act. Any such Issuer Free Writing Prospectus or other Free Writing Prospectus consented to by the Investor or the Company is referred to in this
Agreement as a “Permitted Free Writing Prospectus.” The Company agrees that (x) it has treated and will treat, as the case may be, each Permitted Free Writing Prospectus as an Issuer Free Writing Prospectus and (y) it has
complied and will comply, as the case may be, with the requirements of Rules 164 and 433 under the Securities Act applicable to any Permitted Free Writing Prospectus, including in respect of timely filing with the Commission, legending and record
keeping. 
 Section 5.9 Prospectus Delivery. The Company shall file with the Commission a Prospectus Supplement
pursuant to Rule 424(b) under the Securities Act on the first Trading Day immediately following the last Trading Day of each Pricing Period. The Company shall provide the Investor a reasonable opportunity to comment on a draft of each such
Prospectus Supplement and any Issuer Free Writing Prospectus, shall give due consideration to all such comments and, subject to the provisions of Section 5.8 hereof, shall deliver or make available to the Investor, without charge, an electronic
copy of each form of Prospectus Supplement, together with the Base Prospectus, and any Permitted Free Writing Prospectus on each applicable Settlement Date. The Company consents to the use of the Prospectus (and of any Prospectus Supplement thereto)
in accordance with the provisions of the Securities Act and with the securities or “Blue Sky” laws of the jurisdictions in which the Shares may be sold by the Investor, in connection with the offering and sale of the Shares and for such
period of time thereafter as the Prospectus (or in lieu thereof, the notice referred to in Rule 173(a) under the Securities Act) is required by the Securities Act to be delivered in connection with sales of the Shares. If during such period of time
any event shall occur that in the judgment of the Company and its counsel is required to be set forth in the Registration Statement or the Prospectus or any Permitted Free Writing Prospectus or should be set forth therein in order to make the
statements made therein (in the case of the Prospectus, in light of the circumstances under which they were made) not misleading, or if it is necessary to amend the Registration Statement or supplement or amend the Prospectus or any Permitted Free
Writing Prospectus to comply with the Securities Act or any other applicable law or regulation, the Company shall forthwith prepare and, subject to Section 5.8 above, file with the Commission an appropriate amendment to the Registration
Statement or Prospectus Supplement to the Prospectus (or supplement to the Permitted Free Writing Prospectus) and shall expeditiously furnish or make available to the Investor an electronic copy thereof. The Investor shall comply with any Prospectus
delivery requirements under the Securities Act applicable to it. The Investor acknowledges and agrees that it is not authorized to give any information or to make any representation not contained in the Prospectus or the documents incorporated by
reference or specifically referred to therein in connection with the offer and sale of the Shares. 
 Section 5.10 Selling
Restrictions. 
 (i) Except as expressly set forth below, the Investor covenants that from and after
the date hereof through and including the 90th day next
following the termination of this Agreement (the “Restricted Period”), neither the Investor nor any of its Affiliates nor any entity managed or controlled by the Investor (collectively, the “Restricted Persons” and
each of the 

  
 29 

 
foregoing is referred to herein as a “Restricted Person”) shall, directly or indirectly, (x) intentionally engage in any Short Sales involving the Company’s securities
or (y) grant any option to purchase, or acquire any right to dispose of or otherwise dispose for value of, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for any shares of Common Stock, or enter
into any swap, hedge or other similar agreement that transfers, in whole or in part, the economic risk of ownership of the Common Stock. Notwithstanding the foregoing, it is expressly understood and agreed that nothing contained herein
shall (without implication that the contrary would otherwise be true) prohibit any Restricted Person during the Restricted Period from: (1) selling “long” (as defined under Rule 200 promulgated under Regulation SHO) the Shares;
or (2) selling a number of shares of Common Stock equal to the number of Shares that such Restricted Person is or may be obligated to purchase under a pending Fixed Request Notice but has not yet taken possession of so long as
such Restricted Person (or the Broker-Dealer, as applicable) delivers the Shares purchased pursuant to such Fixed Request Notice to the purchaser thereof or the applicable Broker-Dealer; provided, however, such Restricted Person (or
the applicable Broker-Dealer, as applicable) shall not be required to so deliver any such Shares subject to such Fixed Request Notice if (a) such Fixed Request is terminated by mutual agreement of the Company and the Investor and, as a result
of such termination, no such Shares are delivered to the Investor under this Agreement or (b) the Company otherwise fails to deliver such Shares to the Investor on the applicable Settlement Date upon the terms and subject to the provisions of
this Agreement. 
 (ii) In addition to the foregoing, in connection with any sale of Shares (including any sale permitted by
paragraph (i) above), the Investor shall comply in all respects with all applicable laws, rules, regulations and orders, including, without limitation, the requirements of the Securities Act and the Exchange Act. 

Section 5.11 Effective Registration Statement. During the Investment Period, the Company shall use its best efforts to
maintain the continuous effectiveness of the Registration Statement under the Securities Act. 
 Section 5.12 Blue
Sky. The Company shall take such action, if any, as is necessary in order to obtain an exemption for or to qualify the Shares for sale to the Investor pursuant to this Agreement, at the request of the Investor, and the subsequent resale of
the Shares by the Investor, in each case, under applicable state securities or “Blue Sky” laws and shall provide evidence of any such action so taken to the Investor from time to time following the Effective Date; provided,
however, that the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 5.12,
(y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. 
 Section 5.13 Non-Public Information. Neither the Company or any of its Subsidiaries, nor any of their respective directors, officers, employees or agents shall disclose any material
non-public information about the Company to the Investor, unless a simultaneous public announcement thereof is made by the Company in the manner contemplated by Regulation FD. In the event of a breach of the foregoing covenant by the Company or any
of its Subsidiaries, or any of their respective directors, officers, employees and agents (as determined in the reasonable good faith judgment of the Investor), in addition to any other remedy provided in this 

  
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Agreement, the Investor shall have the right to make a public disclosure, in the form of a press release, public advertisement or otherwise, of such material, non-public information without the
prior approval by the Company, any of its Subsidiaries, or any of their respective directors, officers, employees or agents; provided that the Company shall have failed to publicly disclose such material, non-public information prior to such
disclosure by the Investor. The Investor shall not have any liability to the Company, any of its Subsidiaries, or any of their respective directors, officers, employees, stockholders or agents, for any such disclosure. 

Section 5.14 Broker/Dealer. The Investor shall use one or more broker-dealers to effectuate all sales, if any, of the
Shares that it may purchase or otherwise acquire from the Company pursuant to this Agreement which (or whom) shall be unaffiliated with the Investor and Reedland and not then currently engaged or used by the Company (collectively, the
“Broker-Dealer”). The Investor shall, from time to time, provide the Company with all information regarding the Broker-Dealer reasonably requested by the Company. The Investor shall be solely responsible for all fees and commissions
of the Broker-Dealer, which shall not exceed customary brokerage fees and commissions. 
 Section 5.15 Disclosure
Schedule. 
 (i) During the Investment Period, the Company may from time to time update the Disclosure Schedule as may
be required to satisfy the condition set forth in Section 6.3(i). For purposes of this Section 5.15, any disclosure made in a schedule to the Compliance Certificate substantially in the form attached hereto as Exhibit D shall be
deemed to be an update of the Disclosure Schedule. Notwithstanding anything in this Agreement to the contrary, no update to the Disclosure Schedule pursuant to this Section 5.15 shall cure any breach of a representation or warranty of the
Company contained in this Agreement and shall not affect any of the Investor’s rights or remedies with respect thereto. 

(ii) Notwithstanding anything to the contrary contained in the Disclosure Schedule or in this Agreement, the information and disclosure
contained in any Schedule of the Disclosure Schedule shall be deemed to be disclosed and incorporated by reference in any other Schedule of the Disclosure Schedule as though fully set forth in such Schedule for which applicability of such
information and disclosure is readily apparent on its face. The fact that any item of information is disclosed in the Disclosure Schedule shall not be construed to mean that such information is required to be disclosed by this Agreement. Except as
expressly set forth in this Agreement, such information and the thresholds (whether based on quantity, qualitative characterization, dollar amounts or otherwise) set forth herein shall not be used as a basis for interpreting the terms
“material” or “Material Adverse Effect” or other similar terms in this Agreement. 
 ARTICLE VI

 OPINION OF COUNSEL AND CERTIFICATE; 
 CONDITIONS TO THE SALE AND PURCHASE OF THE SHARES 
 Section 6.1
Opinion of Counsel; Certificate. Simultaneously with the execution and delivery of this Agreement, the Investor’s counsel has received (a) an opinion of outside counsel 

  
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to the Company, dated the Effective Date, in the form mutually agreed to by the parties hereto and (b) a certificate from the Company, dated the Effective Date, in the form of Exhibit
C hereto. 
 Section 6.2 Conditions Precedent to the Obligation of the Company. The obligation hereunder of
the Company to issue and sell the Shares to the Investor under any Fixed Request or Optional Amount is subject to the satisfaction or (to the extent permitted by applicable law) waiver of each of the conditions set forth below. These conditions are
for the Company’s sole benefit and (to the extent permitted by applicable law) may be waived by the Company at any time in its sole discretion. 
 (i) Accuracy of the Investor’s Representations and Warranties. The representations and warranties of the Investor contained in this Agreement (a) that are not qualified by
“materiality” shall have been true and correct in all material respects when made and shall be true and correct in all material respects as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same
force and effect as if made on such dates, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date
and (b) that are qualified by “materiality” shall have been true and correct when made and shall be true and correct as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same force and effect as
if made on such dates, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct as of such other date. 

(ii) Registration Statement. The Registration Statement is effective and neither the Company nor the Investor shall have
received notice that the Commission has issued or intends to issue a stop order with respect to the Registration Statement. The Company shall have a maximum dollar amount certain of Common Stock registered under the Registration Statement which
(A) as of the Effective Date, is sufficient to issue to the Investor not less than the Total Commitment and (B) as of the applicable Fixed Request Exercise Date and the applicable Settlement Date, is sufficient to issue to the Investor not
less than the maximum dollar amount worth of Shares issuable pursuant to the applicable Fixed Request Notice and applicable Optional Amount, if any. The Current Report shall have been filed with the Commission, as required pursuant to
Section 1.4, and all Prospectus Supplements shall have been filed with the Commission, as required pursuant to Sections 1.4 and 5.9 hereof, to disclose the sale of the Shares prior to each Settlement Date, as applicable. Any other material
required to be filed by the Company or any other offering participant pursuant to Rule 433(d) under the Securities Act shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433 under the
Securities Act. 
 (iii) Performance by the Investor. The Investor shall have performed, satisfied and complied in
all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Investor at or prior to the applicable Fixed Request Exercise Date and the applicable Settlement Date.

 (iv) No Injunction. No statute, regulation, order, decree, writ, ruling or injunction shall have been enacted,
entered, promulgated, threatened or endorsed by any court or 

  
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governmental authority of competent jurisdiction which prohibits the consummation of or which would materially modify or delay any of the transactions contemplated by this Agreement. 

(v) No Suspension, Etc. Trading in the Common Stock shall not have been suspended by the Commission or the Trading Market
(except for any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the applicable Fixed Request Exercise Date and applicable Settlement Date), and, at any time prior to the applicable
Fixed Request Exercise Date and applicable Settlement Date, none of the events described in clauses (i), (ii) and (iii) of Section 5.7 shall have occurred, trading in securities generally as reported on the Trading Market shall not
have been suspended or limited, nor shall a banking moratorium have been declared either by the United States or New York State authorities, nor shall there have occurred any material outbreak or escalation of hostilities or other national or
international calamity or crisis of such magnitude in its effect on, or any material adverse change in, any financial, credit or securities market which, in each case, in the reasonable judgment of the Company, makes it impracticable or inadvisable
to issue the Shares. 
 (vi) No Proceedings or Litigation. No action, suit or proceeding before any arbitrator or
any court or governmental authority shall have been commenced or threatened, and no inquiry or investigation by any governmental authority shall have been commenced or threatened, against the Company or any Subsidiary, or any of the officers,
directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions contemplated by this Agreement, or seeking damages in connection with such transactions. 

(vii) Aggregate Limit. The issuance and sale of the Shares issuable pursuant to such Fixed Request Notice or Optional
Amount shall not violate Sections 2.2, 2.12, 4.20(ii) and 5.5 hereof. 
 Section 6.3 Conditions Precedent to the
Obligation of the Investor. The obligation hereunder of the Investor to accept a Fixed Request Notice or Optional Amount grant and to acquire and pay for the Shares is subject to the satisfaction or (to the extent permitted by applicable
law) waiver, at or before each Fixed Request Exercise Date and each Settlement Date, of each of the conditions set forth below. These conditions are for the Investor’s sole benefit and (to the extent permitted by applicable law) may be waived
by the Investor at any time in its sole discretion. 
 (i) Accuracy of the Company’s Representations and
Warranties. The representations and warranties of the Company contained in this Agreement, as modified by the Disclosure Schedule (a) that are not qualified by “materiality” or “Material Adverse Effect” shall have
been true and correct in all material respects when made and shall be true and correct in all material respects as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same force and effect as if made on such
dates, except to the extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct in all material respects as of such other date and (b) that are qualified by
“materiality” or “Material Adverse Effect” shall have been true and correct when made and shall be true and correct as of the applicable Fixed Request Exercise Date and the applicable Settlement Date with the same force and
effect as if made on such dates, except to the 

  
 33 

 
extent such representations and warranties are as of another date, in which case, such representations and warranties shall be true and correct as of such other date. 

(ii) Registration Statement. The Registration Statement is effective and neither the Company nor the Investor shall have
received notice that the Commission has issued or intends to issue a stop order with respect to the Registration Statement. The Company shall have a maximum dollar amount certain of Common Stock registered under the Registration Statement which
(A) as of the Effective Date, is sufficient to issue to the Investor not less than the Total Commitment and (B) as of the applicable Fixed Request Exercise Date and the applicable Settlement Date, is sufficient to issue to the Investor not
less than the maximum dollar amount worth of Shares issuable pursuant to the applicable Fixed Request Notice and applicable Optional Amount, if any. As of the Effective Date, the applicable Fixed Request Exercise Date and the applicable Settlement
Date, the Investor shall be permitted to utilize the Prospectus to resell all of the Shares it then owns or has the right to acquire pursuant to all Fixed Request Notices issued pursuant to this Agreement. The Current Report shall have been filed
with the Commission, as required pursuant to Section 1.4, and all Prospectus Supplements shall have been filed with the Commission, as required pursuant to Sections 1.4 and 5.9 hereof, to disclose the sale of the Shares prior to each Settlement
Date, as applicable, and an electronic copy of each such Prospectus Supplement together with the Base Prospectus shall have been delivered or made available to the Investor in accordance with Section 5.9 hereof. Any other material required to
be filed by the Company or any other offering participant pursuant to Rule 433(d) under the Securities Act shall have been filed with the Commission within the applicable time periods prescribed for such filings by Rule 433 under the Securities Act.

 (iii) No Suspension. Trading in the Common Stock shall not have been suspended by the Commission or the Trading
Market (except for any suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the applicable Fixed Request Exercise Date and applicable Settlement Date), and the Company shall not have
received any notice that the listing or quotation of the Common Stock on the Trading Market shall be terminated on a date certain (which termination shall be final and non-appealable). At any time prior to the applicable Fixed Request Exercise Date
and applicable Settlement Date, none of the events described in clauses (i), (ii) and (iii) of Section 5.7 shall have occurred, trading in securities generally as reported on the Trading Market shall not have been suspended or
limited, nor shall a banking moratorium have been declared either by the United States or New York State authorities, nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity or
crisis of such magnitude in its effect on, or any material adverse change in, any financial, credit or securities market which, in each case, in the reasonable judgment of the Investor, makes it impracticable or inadvisable to purchase the Shares.

 (iv) Performance of the Company. The Company shall have performed, satisfied and complied in all material
respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the applicable Fixed Request Exercise Date and the applicable Settlement Date. The Company
shall have delivered to the Investor on the applicable Settlement Date the Compliance Certificate substantially in the form attached hereto as Exhibit D. 

  
 34 

 (v) No Injunction. No statute, rule, regulation, order, decree, writ, ruling
or injunction shall have been enacted, entered, promulgated, threatened or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of or which would materially modify or delay any of the
transactions contemplated by this Agreement. 
 (vi) No Proceedings or Litigation. No action, suit or proceeding
before any arbitrator or any court or governmental authority shall have been commenced or threatened, and no inquiry or investigation by any governmental authority shall have been commenced or threatened, against the Company or any Subsidiary, or
any of the officers, directors or Affiliates of the Company or any Subsidiary, seeking to restrain, prevent or change the transactions contemplated by this Agreement, or seeking damages in connection with such transactions. 

(vii) Aggregate Limit. The issuance and sale of the Shares issuable pursuant to such Fixed Request Notice or Optional
Amount shall not violate Sections 2.2, 2.12, 4.20(ii) and 5.5 hereof. 
 (viii) Shares Authorized and Delivered.
The Shares issuable pursuant to such Fixed Request Notice or Optional Amount shall have been duly authorized by all necessary corporate action of the Company. The Company shall have delivered all Shares relating to all prior Fixed Request Notices
and Optional Amounts, as applicable. 
 (ix) Listing of Shares. The Company shall have submitted to the Trading
Market, at or prior to the applicable Fixed Request Exercise Date, a notification form of listing of additional shares related to the Shares issuable pursuant to such Fixed Request and Optional Amount, in accordance with the bylaws, listed
securities maintenance standards and other rules of the Trading Market and, prior to the applicable Settlement Date, such Shares shall have been approved for listing or quotation on the Trading Market, subject only to notice of issuance. 

(x) Opinions of Counsel; Bring-Down. Subsequent to the filing of the Current Report pursuant to Section 1.4 and prior
to the first Fixed Request Exercise Date, the Investor shall have received an opinion from outside counsel to the Company and, if applicable, in-house counsel to the Company, in the forms mutually agreed to by the parties hereto. On each Settlement
Date, the Investor shall have received an opinion “bring down” from outside counsel to the Company and, if applicable, in-house counsel to the Company, dated the applicable Settlement Date, in the forms mutually agreed to by the parties
hereto. 
 (xi) Payment of Investor’s Counsel Fees. On the Effective Date, the Company shall have paid by
wire transfer of immediately available funds to an account designated by the Investor’s counsel, the fees and expenses of the Investor’s counsel in accordance with the proviso to the first sentence of Section 9.1(i) of this Agreement.

 ARTICLE VII 
 TERMINATION 
 Section 7.1 Term, Termination by Mutual
Consent. Unless earlier terminated as provided hereunder, this Agreement shall terminate automatically on the earliest of (i) the first day of the month next following the 24-month anniversary of the Effective Date (the
“Investment Period”), (ii) the date that the entire dollar amount of Common Stock registered under the 

  
 35 

 
Registration Statement have been issued and sold and (iii) the date the Investor shall have purchased the Total Commitment of shares of Common Stock (subject in all cases to the Trading
Market Limit). Subject to Section 7.3, this Agreement may be terminated at any time by the mutual written consent of the parties, effective as of the date of such mutual written consent unless otherwise provided in such written consent, it
being hereby acknowledged and agreed that the Investor may not consent to such termination during a Pricing Period or prior to a Settlement Date in the event the Investor has instructed the Broker-Dealer to effect an open-market sale of Shares which
are subject to a pending Fixed Request Notice but which have not yet been physically delivered by the Company (and/or credited by book-entry) to the Investor in accordance with the terms and subject to the conditions of this Agreement. Subject to
Section 7.3, the Company may terminate this Agreement effective upon three Trading Days’ prior written notice to the Investor delivered in accordance with Section 9.4; provided, however, that (i) such termination
shall not occur during a Pricing Period or, subsequent to the issuance of a Fixed Request Notice, prior to the Settlement Date related to such Fixed Request Notice, and (ii) prior to issuing any press release, or making any public statement or
announcement, with respect to such termination, the Company shall consult with the Investor and shall obtain the Investor’s consent to the form and substance of such press release or other disclosure, which consent shall not be unreasonably
delayed or withheld. 
 Section 7.2 Other Termination. If the Company provides the Investor with an Other
Financing Notice or an Integration Notice, in each case pursuant to Section 5.6(ii) of this Agreement, or if the Company otherwise enters into any agreement, plan, arrangement or transaction with a third party or determines to utilize any
existing agreement, plan or arrangement with a third party, in each case the principal purpose of which is to implement, effect or consummate outside a Pricing Period, but otherwise during the Investment Period, a Similar Financing, an ATM or a
Price Reset Provision (in which case the Company shall so notify the Investor within 48 hours thereof), then in all such cases, subject to Section 7.3, the Investor shall have the right to terminate this Agreement within the subsequent 30-day
period (the “Event Period”), effective upon one Trading Day’s prior written notice delivered to the Company in accordance with Section 9.4 at any time during the Event Period. The Company shall promptly (but in no event
later than 24 hours) notify the Investor (and, if required under applicable law, including, without limitation, Regulation FD promulgated by the Commission, or under the applicable rules and regulations of the Trading Market, the Company shall
publicly disclose such information in accordance with Regulation FD and the applicable rules and regulations of the Trading Market), and, subject to Section 7.3, the Investor shall have the right to terminate this Agreement at any time after
receipt of such notification, if: (i) any condition, occurrence, state of facts or event constituting a Material Adverse Effect has occurred; (ii) a Fundamental Transaction has occurred or the Company enters into a definitive agreement
providing for a Fundamental Transaction; or (iii) a default or event of default has occurred and is continuing under the terms of any agreement, contract, note or other instrument to which the Company or any of its Subsidiaries is a party with
respect to any indebtedness for borrowed money representing more than 10% of the Company’s consolidated assets, in any such case, upon one Trading Day’s prior written notice delivered to the Company in accordance with Section 9.4
hereof. 
 Section 7.3 Effect of Termination. In the event of termination by the Company or the Investor pursuant
to Section 7.1 or 7.2, as applicable, written notice thereof shall forthwith be 

  
 36 

 
given to the other party as provided in Section 9.4 and the transactions contemplated by this Agreement shall be terminated without further action by either party. If this Agreement is
terminated as provided in Section 7.1 or 7.2 herein, this Agreement shall become void and of no further force and effect, except that (i) the provisions of Article VIII (Indemnification), Section 9.1 (Fees and Expenses),
Section 9.2 (Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial), Section 9.4 (Notices), Section 9.8 (Governing Law), Section 9.9 (Survival), Section 9.11 (Publicity), Section 9.12 (Severability) and
this Article VII (Termination) shall remain in full force and effect notwithstanding such termination, (ii) if the Investor owns any Shares at the time of such termination, the covenants and agreements of the Company and the Investor, as
applicable, contained in Section 5.1 (Securities Compliance), Section 5.3 (Compliance with Laws), Section 5.7 (Stop Orders), Section 5.8 (Amendments to the Registration Statement; Prospectus Supplements; Free Writing
Prospectuses), Section 5.9 (Prospectus Delivery), Section 5.11 (Effective Registration Statement), Section 5.12 (Blue Sky), Section 5.13 (Non-Public Information) and Section 5.14 (Broker/Dealer) shall remain in full force
and effect notwithstanding such termination for a period of six months following such termination, (iii) the covenants and agreements of the Investor contained in Section 5.10 (Selling Restrictions) shall remain in full force and effect
notwithstanding such termination for a period of 90 days following such termination, and (iv) if the Investor owns any Shares at the time of such termination, the covenants and agreements of the Company contained in Section 5.2
(Registration and Listing) shall remain in full force and effect notwithstanding such termination for a period of 30 days following such termination. Notwithstanding anything in this Agreement to the contrary, no termination of this Agreement by any
party shall affect any cash fees paid to the Investor or its counsel pursuant to Section 9.1, in each case all of which fees shall be non-refundable, regardless of whether any Fixed Requests are issued by the Company or settled hereunder.
Nothing in this Section 7.3 shall be deemed to release the Company or the Investor from any liability for any breach under this Agreement or to impair the rights of the Company and the Investor to compel specific performance by the other party
of its obligations under this Agreement. 
 ARTICLE VIII 

INDEMNIFICATION 
 Section 8.1 General Indemnity. 
 (i) Indemnification by the
Company. The Company shall indemnify and hold harmless the Investor, each Affiliate, employee, representative and advisor of and to the Investor, and each Person, if any, who controls the Investor within the meaning of Section 15 of the
Securities Act or Section 20(a) of the Exchange Act from and against all losses, claims, damages, liabilities and expenses (including reasonable costs of defense and investigation and all attorneys’ fees) to which the Investor and each
such other Person may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages, liabilities and expenses (or actions in respect thereof) arise out of or are based upon (a) any violation of United States
federal or state securities laws or the rules and regulations of the Trading Market in connection with the transactions contemplated by this Agreement by the Company or any of its Subsidiaries, Affiliates, officers, directors or employees,
(b) any untrue statement or alleged untrue statement of a material fact contained, or incorporated by reference, in the Registration Statement or any amendment thereto or any omission or alleged omission to state therein, or in any document

  
 37 

 
incorporated by reference therein, a material fact required to be stated therein or necessary to make the statements therein not misleading, or (c) any untrue statement or alleged untrue
statement of a material fact contained, or incorporated by reference, in the Prospectus, any Issuer Free Writing Prospectus, or in any amendment thereof or supplement thereto, or in any “issuer information” (as defined in Rule 433 under
the Securities Act) of the Company, which “issuer information” is required to be, or is, filed with the Commission or otherwise contained in any Free Writing Prospectus, or any amendment or supplement thereto, or any omission or alleged
omission to state therein, or in any document incorporated by reference therein, a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;
provided, however, that (A) the Company shall not be liable under this Section 8.1(i) to the extent that a court of competent jurisdiction shall have determined by a final judgment (from which no further appeals are
available) that such loss, claim, damage, liability or expense resulted directly and solely from any such acts or failures to act, undertaken or omitted to be taken by the Investor or such Person through its gross negligence, bad faith or willful or
reckless misconduct, (B) the foregoing indemnity shall not apply to any loss, claim, damage, liability or expense to the extent, but only to the extent, arising out of or based upon any untrue statement or alleged untrue statement or omission
or alleged omission made in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Investor or any Broker-Dealer expressly for use in the Current Report or any Prospectus Supplement or Permitted Free
Writing Prospectus, or any amendment thereof or supplement thereto, and (C) with respect to the Prospectus, the foregoing indemnity shall not inure to the benefit of the Investor or any such Person from whom the Person asserting any loss,
claim, damage, liability or expense purchased Common Stock, if copies of all Prospectus Supplements required to be filed pursuant to Section 1.4 and 5.9, together with the Base Prospectus, were timely delivered or made available to the Investor
pursuant hereto and a copy of the Base Prospectus, together with a Prospectus Supplement (as applicable), was not sent or given by or on behalf of the Investor or any such Person to such Person, if required by law to have been delivered, at or prior
to the written confirmation of the sale of the Common Stock to such Person, and if delivery of the Base Prospectus, together with a Prospectus Supplement (as applicable), would have cured the defect giving rise to such loss, claim, damage, liability
or expense. 
 The Company shall reimburse the Investor and each such controlling Person promptly upon demand (with accompanying
presentation of documentary evidence) for all legal and other costs and expenses reasonably incurred by the Investor or such indemnified Persons in investigating, defending against, or preparing to defend against any such claim, action, suit or
proceeding with respect to which it is entitled to indemnification. 
 (ii) Indemnification by the Investor. The
Investor shall indemnify and hold harmless the Company, each of its directors and officers, and each Person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20(a) of the Exchange Act from
and against all losses, claims, damages, liabilities and expenses (including reasonable costs of defense and investigation and all attorneys fees) to which the Company and each such other Person may become subject, under the Securities Act or
otherwise, insofar as such losses, claims, damages, liabilities and expenses (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in the Current Report or any
Prospectus Supplement or Permitted Free Writing Prospectus, or in 

  
 38 

 
any amendment thereof or supplement thereto, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading, in each case, to the extent, but only to the extent, the untrue statement, alleged untrue statement, omission or alleged omission was made in reliance upon, and in conformity
with, written information furnished by the Investor to the Company expressly for inclusion in the Current Report or such Prospectus Supplement or Permitted Free Writing Prospectus, or any amendment thereof or supplement thereto. 

The Investor shall reimburse the Company and each such director, officer or controlling Person promptly upon demand for all legal and
other costs and expenses reasonably incurred by the Company or such indemnified Persons in investigating, defending against, or preparing to defend against any such claim, action, suit or proceeding with respect to which it is entitled to
indemnification. 
 Section 8.2 Indemnification Procedures. Promptly after a Person receives notice of a
claim or the commencement of an action for which the Person intends to seek indemnification under Section 8.1, the Person will notify the indemnifying party in writing of the claim or commencement of the action, suit or proceeding;
provided, however, that failure to notify the indemnifying party will not relieve the indemnifying party from liability under Section 8.1, except to the extent it has been materially prejudiced by the failure to give notice. The
indemnifying party will be entitled to participate in the defense of any claim, action, suit or proceeding as to which indemnification is being sought, and if the indemnifying party acknowledges in writing the obligation to indemnify the party
against whom the claim or action is brought, the indemnifying party may (but will not be required to) assume the defense against the claim, action, suit or proceeding with counsel satisfactory to it. After an indemnifying party notifies an
indemnified party that the indemnifying party wishes to assume the defense of a claim, action, suit or proceeding, the indemnifying party will not be liable for any legal or other expenses incurred by the indemnified party in connection with the
defense against the claim, action, suit or proceeding except that if, in the opinion of counsel to the indemnifying party, it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent the
indemnifying party and one or more of the indemnified parties. In such event, the indemnifying party will pay the reasonable fees and expenses of not more than one separate counsel for all of the indemnified parties. Each indemnified party, as a
condition to receiving indemnification as provided in Section 8.1, will cooperate in all reasonable respects with the indemnifying party in the defense of any action or claim as to which indemnification is sought. No indemnifying party will be
liable for any settlement of any action effected without its prior written consent. Notwithstanding the foregoing sentence, if at any time an indemnified party shall have requested (by written notice provided in accordance with Section 9.4) an
indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated hereby effected without its written consent if (i) such
settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received written notice of the terms of such settlement at least 30 days prior to such
settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. No indemnifying party will, without the prior written consent
of the indemnified party, effect any 

  
 39 

 
settlement of a pending or threatened action with respect to which an indemnified party is, or is informed that it may be, made a party and for which it would be entitled to indemnification,
unless the settlement includes an unconditional release of the indemnified party from all liability and claims which are the subject matter of the pending or threatened action. 

If for any reason the indemnification provided for in this Agreement is not available to, or is not sufficient to hold harmless, an
indemnified party in respect of any loss or liability referred to in Section 8.1 as to which such indemnified party is entitled to indemnification thereunder, each indemnifying party shall, in lieu of indemnifying the indemnified party,
contribute to the amount paid or payable by the indemnified party as a result of such loss or liability, (i) in the proportion which is appropriate to reflect the relative benefits received by the indemnifying party, on the one hand, and by the
indemnified party, on the other hand, from the sale of Shares which is the subject of the claim, action, suit or proceeding which resulted in the loss or liability or (ii) if the allocation provided by clause (i) is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above, but also the relative fault of the indemnifying party, on the one hand, and the indemnified party, on the other
hand, with respect to the statements or omissions which are the subject of the claim, action, suit or proceeding that resulted in the loss or liability, as well as any other relevant equitable considerations. 

The remedies provided for in Section 8.1 and this Section 8.2 are not exclusive and shall not limit any rights or remedies
which may otherwise be available to any indemnified Person at law or in equity. 
 ARTICLE IX 

MISCELLANEOUS 
 Section 9.1 Fees and Expenses. 
 (i) Each party shall bear its own
fees and expenses related to the transactions contemplated by this Agreement; provided, however, that the Company shall pay, prior to the Effective Date, by wire transfer of immediately available funds to an account designated by the
Investor’s counsel, promptly following the receipt of an invoice therefor, all reasonable attorneys’ fees and expenses (exclusive of disbursements and out-of-pocket expenses) incurred by the Investor, up to $10,000, in connection with the
preparation, negotiation, execution and delivery of this Agreement, legal due diligence of the Company and review of the Registration Statement, the Base Prospectus, the Current Report, any Permitted Free Writing Prospectus and all other related
transaction documentation. The Company shall pay all U.S. federal, state and local stamp and other similar transfer and other taxes and duties levied in connection with issuance of the Shares pursuant hereto. For the avoidance of doubt, all of the
fees payable to the Investor or its counsel pursuant to this Section 9.1 shall be non-refundable, regardless of whether any Fixed Requests are issued by the Company or settled hereunder. 

(ii) If the Company issues a Fixed Request Notice and fails to deliver the Shares (which have been approved for listing or quotation on
the Trading Market, if such an approval is required for the listing or quotation thereof on the Trading Market) to the Investor on the applicable Settlement Date and such failure continues for 10 Trading Days, the Company

  
 40 

 
shall pay the Investor, in cash (or, at the option of the Investor, in shares of Common Stock which have not been registered under the Securities Act valued at the applicable Discount Price of
the Shares failed to be delivered; provided that the issuance thereof by the Company would not violate the Securities Act or any applicable U.S. federal or state securities laws), as partial damages for such failure and not as a penalty, an
amount equal to 2.0% of the payment required to be paid by the Investor on such Settlement Date (i.e., the sum of the Fixed Amount Requested and the Optional Amount Dollar Amount) for the initial 30 days following such Settlement Date until the
Shares (which have been approved for listing or quotation on the Trading Market, if such an approval is required for the listing or quotation thereof on the Trading Market) have been delivered, and an additional 2.0% for each additional 30-day
period thereafter until the Shares (which have been approved for listing or quotation on the Trading Market, if such an approval is required for the listing or quotation thereof on the Trading Market) have been delivered, which amount shall be
prorated for such periods less than 30 days (subject in all cases to the Trading Market Limit). Nothing in this Section 9.1(ii) shall be deemed to release the Company from any liability for any breach under this Agreement, or to impair the
rights of the Investor to compel specific performance by the Company of its obligations under this Agreement. 
 Section 9.2
Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial. 
 (i) The Company and the Investor acknowledge
and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that either party shall be
entitled to an injunction or injunctions to prevent or cure breaches of the provisions of this Agreement by the other party and to enforce specifically the terms and provisions hereof (without the necessity of showing economic loss and without any
bond or other security being required), this being in addition to any other remedy to which either party may be entitled by law or equity. 
 (ii) Each of the Company and the Investor (a) hereby irrevocably submits to the jurisdiction of the U.S. District Court and other courts of the United States sitting in the City and State of New
York, Borough of Manhattan, for the purposes of any suit, action or proceeding arising out of or relating to this Agreement, and (b) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not
personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper. Each of the Company and the Investor consents to process
being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing in this Section 9.2 shall affect or limit any right to serve process in any other manner permitted by law. 
 (iii) EACH OF THE COMPANY AND THE INVESTOR HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY
ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR DISPUTES RELATING HERETO. EACH OF THE COMPANY AND THE INVESTOR (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS

  
 41 

 
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 9.2. 
 Section 9.3 Entire Agreement; Amendment. This Agreement, together with the exhibits referred to herein and the Disclosure Schedule, represents the entire agreement of the parties with
respect to the subject matter hereof, and there are no promises, undertakings, representations or warranties by either party relative to subject matter hereof not expressly set forth herein. No provision of this Agreement may be amended other than
by a written instrument signed by both parties hereto. The Disclosure Schedule and all exhibits to this Agreement are hereby incorporated by reference in, and made a part of, this Agreement as if set forth in full herein. 

Section 9.4 Notices. Any notice, demand, request, waiver or other communication required or permitted to be given
hereunder shall be in writing and shall be effective (a) upon hand delivery or facsimile (with facsimile machine confirmation of delivery received) at the address or number designated below (if delivered on a business day during normal business
hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day
following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The address for such communications shall be: 

 

					
	 If to the Company:
	 	Microvision, Inc.
		 	6222 185th Avenue NE
		 	Redmond, Washington 98052
		 	Telephone Number: (425) 936-6847
		 	Fax: (425) 882-6600
		 	 Attention: Chief Financial Officer
                     General Counsel

		 
		
	 With copies to:
	 	 Ropes & Gray LLP
 Prudential Tower

		 	800 Boylston Street
		 	Boston, MA 02199-3600
		 	Telephone Number: (617) 951-7000
		 	Fax: (617) 951-7050
		 	Attention: Joel F. Freedman, Esq.

  
 42 

			
	If to the Investor:	 	Azimuth Opportunity Ltd.
		 	c/o Folio Administrators Limited
		 	Folio House
		 	P.O. Box 800
		 	Road Town, Tortola VG1110
		 	British Virgin Islands
		 	Telephone Number: (284) 494-7065 Ext. 250
		 	Fax: (284) 494-8356/7422
		 	Attention: Tamara Singh
		
	With copies to:	 	Greenberg Traurig, LLP
		 	The MetLife Building
		 	200 Park Avenue
		 	New York, NY 10166
		 	Telephone Number: (212) 801-9200
		 	Fax: (212) 801-6400
		 	Attention: Anthony J. Marsico

 Either party hereto may from time to time change its address for notices by giving at least 10 days advance written
notice of such changed address to the other party hereto. 
 Section 9.5 Waivers. No waiver by either party
of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any other provisions, condition or requirement hereof nor shall any delay or omission of
any party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter. No provision of this Agreement may be waived other than in a written instrument signed by the party against whom enforcement of
such waiver is sought. 
 Section 9.6 Headings; Construction. The article, section and subsection headings
in this Agreement are for convenience only and shall not constitute a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. Unless the context clearly indicates otherwise, each pronoun
herein shall be deemed to include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,” “include” and words of like import shall be construed broadly as if followed by
the words “without limitation.” The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision in which they are found. The parties agree that
each of them and their respective counsel has reviewed and had an opportunity to revise this Agreement and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be
employed in the interpretation of this Agreement. In addition, each and every reference to share prices and shares of Common Stock in this Agreement shall be subject to adjustment for any stock splits, stock combinations, stock dividends,
recapitalizations and other similar transactions that occur on or after the date of this Agreement. 
 Section 9.7
Successors and Assigns. The Investor may not assign this Agreement to any Person without the prior consent of the Company, in the Company’s sole discretion. This 

  
 43 

 
Agreement shall be binding upon and inure to the benefit of the parties and their successors and assigns. The assignment by a party to this Agreement of any rights hereunder shall not affect the
obligations of such party under this Agreement. 
 Section 9.8 Governing Law. This Agreement shall be governed by
and construed in accordance with the internal procedural and substantive laws of the State of New York, without giving effect to the choice of law provisions of such state that would cause the application of the laws of any other jurisdiction.

 Section 9.9 Survival. The representations, warranties, covenants and agreements of the Company and the Investor
contained in this Agreement shall survive the execution and delivery hereof until the termination of this Agreement; provided, however, that (i) the provisions of Article VII (Termination), Article VIII (Indemnification),
Section 9.1 (Fees and Expenses), Section 9.2 (Specific Enforcement, Consent to Jurisdiction, Waiver of Jury Trial), Section 9.4 (Notices), Section 9.8 (Governing Law), Section 9.11 (Publicity), Section 9.12
(Severability) and this Section 9.9 (Survival) shall remain in full force and effect notwithstanding such termination, (ii) if the Investor owns any Shares at the time of such termination, the covenants and agreements of the Company and
the Investor, as applicable, contained in Section 5.1 (Securities Compliance), Section 5.3 (Compliance with Laws), Section 5.7 (Stop Orders), Section 5.8 (Amendments to the Registration Statement; Prospectus Supplements; Free
Writing Prospectuses), Section 5.9 (Prospectus Delivery), Section 5.11 (Effective Registration Statement), Section 5.12 (Blue Sky), Section 5.13 (Non-Public Information) and Section 5.14 (Broker/Dealer) shall remain in full
force and effect notwithstanding such termination for a period of six months following such termination, (iii) the covenants and agreements of the Investor contained in Section 5.10 (Selling Restrictions) shall remain in full force and
effect notwithstanding such termination for a period of 90 days following such termination, and (iv) if the Investor owns any Shares at the time of such termination, the covenants and agreements of the Company contained in Section 5.2
(Registration and Listing) shall remain in full force and effect notwithstanding such termination for a period of 30 days following such termination. 
 Section 9.10 Counterparts. This Agreement may be executed in counterparts, all of which taken together shall constitute one and the same original and binding instrument and shall become
effective when all counterparts have been signed by each party and delivered to the other parties hereto, it being understood that all parties hereto need not sign the same counterpart. In the event any signature is delivered by facsimile, digital
or electronic transmission, such transmission shall constitute delivery of the manually executed original and the party using such means of delivery shall thereafter cause four additional executed signature pages to be physically delivered to the
other parties within five days of the execution and delivery hereof. Failure to provide or delay in the delivery of such additional executed signature pages shall not adversely affect the efficacy of the original delivery. 

Section 9.11 Publicity. The Investor shall have the right to approve, prior to issuance or filing, any press release,
Commission filing or any other public disclosure made by or on behalf of the Company relating to the Investor, its purchases hereunder or any aspect of this Agreement or the transactions contemplated hereby (unless the same disclosure has been
previously reviewed and approved by the Investor); provided, however, that except as otherwise provided in this Agreement, the Company shall be entitled, without the prior approval of the 

  
 44 

 
Investor, to make any press release or other public disclosure (including any filings with the Commission) with respect thereto as is required by applicable law and regulations (including the
regulations of the Trading Market), so long as prior to making any such press release or other public disclosure, if reasonably practicable, the Company and its counsel shall have provided the Investor and its counsel with a reasonable opportunity
to review and comment upon, and shall have consulted with the Investor and its counsel on the form and substance of, such press release or other disclosure. 
 Section 9.12 Severability. The provisions of this Agreement are severable and, in the event that any court of competent jurisdiction shall determine that any one or more of the provisions or
part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of
this Agreement, and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part of such provision, had never been contained herein, so that such provisions would be valid, legal and enforceable to
the maximum extent possible. 
 Section 9.13 No Third Party Beneficiaries. Except as expressly provided in Article
VIII, this Agreement is intended only for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 

Section 9.14 Further Assurances. From and after the date of this Agreement, upon the request of the Investor or the
Company, each of the Company and the Investor shall execute and deliver such instrument, documents and other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent and purposes of this
Agreement. 
 [Signature Page Follows] 

  
 45 

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

			
	MICROVISION, INC.:
		
	By:	 	/s/ Jeff T. Wilson
	Name:	 	Jeff T. Wilson
	Title:	 	Chief Financial Officer
	
	AZIMUTH OPPORTUNITY LTD.:
		
	By:	 	/s/ Peter Poole
	Name:	 	Peter Poole
	Title:	 	Director

 [Signature Page to Common Stock Purchase Agreement—September 2011] 

 ANNEX A TO THE 
 COMMON STOCK PURCHASE AGREEMENT  
 DEFINITIONS

 “Acceptable Financing” shall have the meaning assigned to such term in Section 5.6(ii) hereof.

 “Affiliate” shall have the meaning assigned to such term in Rule 12b-2 under the Exchange Act. 

“Aggregate Limit” shall have the meaning assigned to such term in Section 1.1 hereof. 

“Agreement” shall have the meaning assigned to such term in the Preamble. 

“ATM” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Base Prospectus” shall mean the Company’s prospectus, dated July 29, 2011, a preliminary form of which is
included in the Registration Statement, including the documents incorporated by reference therein. 
 “Below Market
Offering” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Broker-Dealer” shall have the meaning assigned to such term in Section 5.14 hereof. 

“Bylaws” shall have the meaning assigned to such term in Section 4.3 hereof. 

“Charter” shall have the meaning assigned to such term in Section 4.3 hereof. 

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

“Commission” shall mean the Securities and Exchange Commission or any successor entity. 

“Commission Documents” shall mean (1) all reports, schedules, registrations, forms, statements, information and
other documents filed with or furnished to the Commission by the Company pursuant to the reporting requirements of the Exchange Act, including all material filed or furnished pursuant to Section 13(a), 14(a) or 15(d) of the Exchange Act, which
have been filed or furnished by the Company since December 31, 2010 and which hereafter shall be filed by the Company during the Investment Period, including, without limitation, the Current Report and the Form 10-K filed by the Company for its
fiscal year ended December 31, 2010 (the “2010 Form 10-K”), (2) the Registration Statement, as the same may be amended from time to time, the Prospectus and each Prospectus Supplement, and each Permitted Free Writing
Prospectus and (3) all information contained in such filings and all documents and disclosures that have been and heretofore shall be incorporated by reference therein. 
 “Common Stock” shall have the meaning assigned to such term in the Recitals. 

 “Company” shall have the meaning assigned to such term in the Preamble.

 “Current Market Price” means, with respect to any particular measurement date, the closing price of a share
of Common Stock as reported on the Trading Market for the Trading Day immediately preceding such measurement date. 

“Current Report” shall have the meaning assigned to such term in Section 1.4 hereof. 

“Disclosure Schedule” shall have the meaning assigned to such term in Article IV hereof. 

“Discount Price” shall have the meaning assigned to such term in Section 2.2 hereof. 

“EDGAR” shall have the meaning assigned to such term in Section 4.3 hereof. 

“Effective Date” shall mean the date of this Agreement. 

“Environmental Laws” shall have the meaning assigned to such term in Section 4.17 hereof. 

“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended. 

“Event Period” shall have the meaning assigned to such term in Section 7.2 hereof. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Commission thereunder. 
 “FINRA” shall have the meaning assigned to such term in Section 4.20(iv) hereof.

 “Fixed Amount Requested” shall mean the amount of a Fixed Request requested by the Company in a Fixed
Request Notice delivered pursuant to Section 2.1 hereof. 
 “Fixed Request” means the transactions
contemplated under Sections 2.1 through 2.8 of this Agreement. 
 “Fixed Request Amount” means the actual
amount of proceeds received by the Company pursuant to a Fixed Request under this Agreement. 
 “Fixed Request Exercise
Date” shall have the meaning assigned to such term in Section 2.2 hereof. 
 “Fixed Request
Notice” shall have the meaning assigned to such term in Section 2.1 hereof. 
 “Free Writing
Prospectus” shall mean a “free writing prospectus” as defined in Rule 405 promulgated under the Securities Act. 
 “Fundamental Transaction” means any one or more of the following: (i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate or merge
with or 

 
into (whether or not the Company is the surviving corporation) another Person, with the result that the holders of the Company’s capital stock immediately prior to such consolidation or
merger together beneficially own less than 50% of the outstanding voting power of the surviving or resulting corporation, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of the properties
or assets of the Company to another Person, or (3) take action to facilitate a purchase, tender or exchange offer by another Person that is accepted by the holders of more than 50% of the outstanding shares of Common Stock (not including any
shares of Common Stock held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or other
business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common Stock (not including
any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination), or
(5) reorganize, recapitalize or reclassify its Common Stock, or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock. 

“GAAP” shall mean generally accepted accounting principles in the United States of America as applied by the Company.

 “Governmental Licenses” shall have the meaning assigned to such term in Section 4.16(a) hereof.

 “Indebtedness” shall have the meaning assigned to such term in Section 4.11 hereof. 

“Integration Notice” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Intellectual Property” shall have the meaning assigned to such term in Section 4.16(b) hereof. 

“Investment Period” shall have the meaning assigned to such term in Section 7.1 hereof. 

“Investor” shall have the meaning assigned to such term in the Preamble. 

“Issuer Free Writing Prospectus” shall mean an “issuer free writing prospectus,” as defined in Rule 433
promulgated under the Securities Act, relating to the Shares that (i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i) under the Securities Act, in each case, in the
form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g) under the Securities Act. 

“Knowledge” means the actual knowledge of the Company’s Chief Executive Officer or Chief Financial Officer, after
reasonable inquiry of all officers, directors and employees of the 

 
Company who could reasonably be expected to have knowledge or information with respect to the matter in question. 
 “Market Capitalization” shall be calculated on the Trading Day preceding the applicable Pricing Period and shall be the product of (x) the number of shares of Common Stock
outstanding and (y) the closing bid price of the Common Stock, both as determined by Bloomberg Financial LP using the DES and HP functions. 
 “Material Adverse Effect” means (i) any condition, occurrence, state of facts or event having, or insofar as reasonably can be foreseen would likely have, any material adverse effect
on the legality, validity or enforceability of this Agreement or the transactions contemplated hereby, (ii) any condition, occurrence, state of facts or event having, or insofar as reasonably can be foreseen would likely have, any effect on the
business, operations, properties or financial condition of the Company that is material and adverse to the Company and its Subsidiaries, taken as a whole, and/or (iii) any condition, occurrence, state of facts or event that would, or insofar as
reasonably can be foreseen would likely, prohibit or otherwise materially interfere with or delay the ability of the Company to perform any of its obligations under any of this Agreement; provided, however, that none of the following,
individually or in the aggregate, shall be taken into account in determining whether a Material Adverse Effect has occurred or insofar as reasonably can be foreseen would likely occur: (a) changes in conditions in the U.S. or global capital,
credit or financial markets generally, including changes in the availability of capital or currency exchange rates, provided such changes shall not have affected the Company in a materially disproportionate manner as compared to other similarly
situated companies; (b) changes generally affecting the information display industry, provided such changes shall not have affected the Company in a materially disproportionate manner as compared to other similarly situated companies;
(c) any effect of the announcement of, or the consummation of the transactions contemplated by, this Agreement on the Company’s relationships, contractual or otherwise, with customers, suppliers, vendors, bank lenders, strategic venture
partners or employees; and (d) the receipt of any notice that the Common Stock may be ineligible to continue listing or quotation on the Trading Market, other than a final and non-appealable notice that the listing or quotation of the Common
Stock on the Trading Market shall be terminated on a date certain. 
 “Material Agreements” shall have the
meaning assigned to such term in Section 4.18 hereof. 
 “Multiplier” shall have the meaning assigned to
such term in Section 2.3 hereof. 
 “NASDAQ” means the NASDAQ Global Market or any successor thereto.

 “Optional Amount” means the transactions contemplated under Sections 2.9 through 2.11 of this Agreement.

 “Optional Amount Dollar Amount” shall mean the actual amount of proceeds received by the Company pursuant to
the exercise of an Optional Amount under this Agreement. 

 “Optional Amount Notice” shall mean a notice sent to the Company with
regard to the Investor’s election to exercise all or any portion of an Optional Amount, as provided in Section 2.11 hereof and substantially in the form attached hereto as Exhibit B. 

“Optional Amount Threshold Price” shall have the meaning assigned to such term in Section 2.1 hereof. 

“Other Financing” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Other Financing Notice” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 

“Permitted Free Writing Prospectus” shall have the meaning assigned to such term in Section 5.8(ii) hereof.

 “Person” means any person or entity, whether a natural person, trustee, corporation, partnership, limited
partnership, limited liability company, trust, unincorporated organization, business association, firm, joint venture, governmental agency or authority. 
 “Placement Agent Engagement Letter” shall have the meaning assigned to such term in Section 4.15 hereof. 
 “Plan” shall have the meaning assigned to such term in Section 4.24 hereof. 
 “Price Reset Provision” shall have the meaning assigned to such term in Section 5.6(ii) hereof. 
 “Pricing Period” shall mean a period of 10 consecutive Trading Days commencing on the Pricing Period start date set forth in the Fixed Request Notice, or such other period mutually agreed
upon by the Investor and the Company. 
 “Prior Agreement” shall have the meaning assigned to such term in
Section 1.5 hereof. 
 “Prospectus” shall mean the Base Prospectus, as supplemented by any Prospectus
Supplement, including the documents incorporated by reference therein, together with any Permitted Free Writing Prospectus. 

“Prospectus Supplement” shall mean any prospectus supplement to the Base Prospectus filed with the Commission pursuant
to Rule 424(b) under the Securities Act, including the documents incorporated by reference therein. 
 “Reduction
Notice” shall have the meaning assigned to such term in Section 2.8 hereof. 
 “Reedland” shall
have the meaning assigned to such term in Section 4.15 hereof. 
 “Reference Period” shall have the
meaning assigned to such term in Section 5.6(ii) hereof. 

 “Registration Statement” shall mean the registration statement on Form S 3,
Commission File Number 333-175419, filed by the Company with the Commission under the Securities Act for the registration of the Shares, as such Registration Statement may be amended and supplemented from time to time (including any related
registration statements filed pursuant to Rule 462(b) under the Securities Act), including all documents filed as part thereof or incorporated by reference therein, and including all information deemed to be a part thereof at the time of
effectiveness pursuant to Rule 430A, Rule 430B or Rule 430C under the Securities Act. 
 “Restricted Period”
shall have the meaning assigned to such term in Section 5.10(i) hereof. 
 “Restricted Person” shall have
the meaning assigned to such term in Section 5.10(i) hereof. 
 “Restricted Persons” shall have the
meaning assigned to such term in Section 5.10(i) hereof. 
 “Securities Act” shall mean the Securities Act
of 1933, as amended, and the rules and regulations of the Commission thereunder. 
 “Settlement Date” shall
have the meaning assigned to such term in Section 2.7 hereof. 
 “Shares” shall mean shares of Common
Stock issuable to the Investor upon exercise of a Fixed Request and shares of Common Stock issuable to the Investor upon exercise of an Optional Amount. 
 “Short Sales” means “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act. 

“Significant Subsidiary” means any Subsidiary of the Company that would constitute a Significant Subsidiary of the
Company within the meaning of Rule 1-02 of Regulation S-X of the Commission. 
 “Similar Financing” shall have
the meaning assigned to such term in Section 5.6(ii) hereof. 
 “Single Fixed Request Trading Market
Limit” shall have the meaning assigned to such term in Section 2.12 hereof. 
 “SOXA” shall have
the meaning assigned to such term in Section 4.6(c) hereof. 
 “Subsidiary” shall mean any corporation or
other entity of which at least a majority of the securities or other ownership interest having ordinary voting power (absolutely or contingently) for the election of directors or other persons performing similar functions are at the time owned
directly or indirectly by the Company and/or any of its other Subsidiaries. 

 “Terminated Facility” means the committed equity facility contemplated by
that certain common stock purchase agreement, dated as of August 16, 2010, by and between the Investor and the Company. 

“Threshold Price” is the lowest price (except to the extent otherwise provided in Section 2.6) at which the Company
may sell Shares during the applicable Pricing Period as set forth in a Fixed Request Notice (not taking into account the applicable percentage discount during such Pricing Period determined in accordance with Section 2.2); provided,
however, that at no time shall the Threshold Price be lower than $0.75 per share unless the Company and the Investor shall mutually agree. 
 “Total Commitment” shall have the meaning assigned to such term in Section 1.1 hereof. 
 “Trading Day” shall mean a full trading day (beginning at 9:30 a.m., New York City time, and ending at 4:00 p.m., New York City time) on the NASDAQ. 

“Trading Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE Amex Equities, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange (or any successors to any of the foregoing), whichever is at the time the principal
trading exchange or market for the Common Stock. 
 “Trading Market Limit” means, at any time, 22,030,737
shares of duly authorized, validly issued, fully paid and non-assessable shares of Common Stock (as adjusted for any stock splits, stock combinations, stock dividends, recapitalizations and other similar transactions that occur on or after the date
of this Agreement); provided, however, that the Trading Market Limit shall not exceed under any circumstances that number of shares of Common Stock that the Company may issue pursuant to this Agreement and the transactions contemplated
hereby without (a) breaching the Company’s obligations under the rules and regulations of the Trading Market or (b) obtaining stockholder approval under the applicable rules and regulations of the Trading Market. 

“VWAP” means the volume weighted average price (the aggregate sales price of all trades of Common Stock during a Trading
Day divided by the total number of shares of Common Stock traded during such Trading Day) of the Common Stock during any Trading Day as reported by Bloomberg L.P. using the AQR function. 

“Warrant Value” shall mean the fair value of all warrants, options and other similar rights issued to a third party in
connection with an Other Financing, determined by using a standard Black-Scholes option-pricing model using an expected volatility percentage as shall be mutually agreed by the Investor and the Company. In the case of a dispute relating to such
expected volatility assumption, the Investor shall obtain applicable volatility data from three investment banking firms of nationally recognized reputation, and the parties hereto shall use the average thereof for purposes of determining the
expected volatility percentage in connection with the Black-Scholes calculation referred to in the immediately preceding sentence. 

 EXHIBIT A TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 FORM OF FIXED REQUEST NOTICE 
 Reference is made to the Common Stock
Purchase Agreement dated as of September 13, 2011, (the “Purchase Agreement”) between Microvision, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), and Azimuth
Opportunity Ltd., an international business company incorporated under the laws of the British Virgin Islands. Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. 

In accordance with and pursuant to Section 2.1 of the Purchase Agreement, the Company hereby issues this Fixed Request Notice to
exercise a Fixed Request for the Fixed Amount Requested indicated below. 
  

			
	 Fixed Amount Requested:
	  	  

		
	 Optional Amount Dollar Amount:
	  	  

		
	 Pricing Period start date:
	  	  

		
	 Pricing Period end date:
	  	  

		
	 Settlement Date:
	  	  

		
	 Fixed Request Threshold Price:
	  	  

		
	 Optional Amount Threshold Price:
	  	  

		
	Dollar Amount of Common Stock Currently Unissued under the Registration Statement	  	  

		
	Dollar Amount of Common Stock Currently Available under the Aggregate Limit:	  	  

  

													
	Dated:	 	  
	 		 	By:	 	  

		 		 		 		 	Name:	  	
		 		 		 		 	Title:	  	
						
		 		 		 		 	Address:	  	
		 		 		 		 	Facsimile No.:	  	

  

			
	 AGREED AND ACCEPTED

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 EXHIBIT B TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 FORM OF OPTIONAL AMOUNT NOTICE 
 To:
                                         
      

Fax#:                        
                     

Reference is made to the Common Stock Purchase Agreement dated as of September 13, 2011 (the “Purchase Agreement”)
between Microvision, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), and Azimuth Opportunity Ltd., an international business company incorporated under the laws of the British
Virgin Islands (the “Investor”). Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. 
 In accordance with and pursuant to Section 2.11 of the Purchase Agreement, the Investor hereby issues this Optional Amount Notice to exercise an Optional Amount for the Optional Amount Dollar Amount
indicated below. 
  

			
	Optional Amount Dollar Amount Exercised	  	  

		
	Number of Shares to be purchased	  	  

		
	VWAP on the date hereof:	  	  

		
	Discount Price:	  	  

		
	Settlement Date:	  	  

		
	Threshold Price:	  	  

  

													
					
	Dated:	 	  
	 		 	By:	 	  

		 		 		 		 	Name:	 		 	
		 		 		 		 	Title:	 		 	
							
		 		 		 		 	Address:	 		 	
		 		 		 		 	Facsimile No.:	 		 	

 EXHIBIT C TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 CERTIFICATE OF THE COMPANY 
 CLOSING CERTIFICATE 

            20     

The undersigned, the
[                    ] of Microvision, Inc., a corporation organized and existing under the laws of the State of Delaware (the
“Company”), delivers this certificate in connection with the Common Stock Purchase Agreement, dated as of September 13, 2011 (the “Agreement”), by and between the Company and Azimuth Opportunity Ltd., an
international business company incorporated under the laws of the British Virgin Islands (the “Investor”), and hereby certifies on the date hereof that (capitalized terms used herein without definition have the meanings assigned to
them in the Agreement): 
 1. Attached hereto as Exhibit A is a true, complete and correct copy of the Certificate of
Incorporation of the Company as filed with the Secretary of State of the State of Delaware. The Certificate of Incorporation of the Company has not been further amended or restated, and no document with respect to any amendment to the Certificate of
Incorporation of the Company has been filed in the office of the Secretary of State of the State of Delaware since the date shown on the face of the state certification relating to the Company’s Certificate of Incorporation, which is in full
force and effect on the date hereof, and no action has been taken by the Company in contemplation of any such amendment or the dissolution, merger or consolidation of the Company. 

2. Attached hereto as Exhibit B is a true and complete copy of the Bylaws of the Company, as amended and restated through, and as
in full force and effect on, the date hereof, and no proposal for any amendment, repeal or other modification to the Bylaws of the Company has been taken or is currently pending before the Board of Directors or stockholders of the Company.

 3. The Board of Directors of the Company has approved the transactions contemplated by the Agreement; said approval has not
been amended, rescinded or modified and remains in full force and effect as of the date hereof. 
 4. Each person who, as an
officer of the Company, or as attorney-in-fact of an officer of the Company, signed (i) the Agreement and (ii) any other document delivered prior hereto or on the date hereof in connection with the transactions contemplated by the
Agreement, was duly elected, qualified and acting as such officer or duly appointed and acting as such attorney-in-fact, and the signature of each such person appearing on any such document is his genuine signature. 

[Signature page follows] 

 IN WITNESS WHEREOF, I have signed my name as of the date first above written.

  

	
	MICROVISION, INC.
	
	  

	By:
	Title:
	

 EXHIBIT D TO THE 

COMMON STOCK PURCHASE AGREEMENT 
 COMPLIANCE CERTIFICATE 
 In connection with the issuance of shares of
common stock of Microvision, Inc., a corporation organized and existing under the laws of the State of Delaware (the “Company”), pursuant to the Fixed Request Notice, dated
[                    ], delivered by the Company to Azimuth Opportunity Ltd. (the “Investor”) pursuant to Article II of the Common
Stock Purchase Agreement, dated as of September 13, 2011, by and between the Company and the Investor (the “Agreement”), the undersigned hereby certifies as follows: 

1. The undersigned is the duly appointed
[                    ] of the Company. 
 2. Except as set forth in the attached Disclosure Schedule, the representations and warranties of the Company set forth in Article IV of the Agreement (i) that are not qualified by
“materiality” or “Material Adverse Effect” are true and correct in all material respects as of [insert Fixed Request Exercise Date] and as of the date hereof with the same force and effect as if made on such dates, except to the
extent such representations and warranties are as of another date, in which case, such representations and warranties are true and correct in all material respects as of such other date and (ii) that are qualified by “materiality” or
“Material Adverse Effect” are true and correct as of [insert Fixed Request Exercise Date] and as of the date hereof with the same force and effect as if made on such dates, except to the extent such representations and warranties are as of
another date, in which case, such representations and warranties are true and correct as of such other date. 
 3. The Company
has performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by the Agreement to be performed, satisfied or complied with by the Company at or prior to [insert Fixed Request Exercise Date] and
the date hereof. 
 Capitalized terms used but not otherwise defined herein shall have the meanings assigned to them in the
Agreement. 
 The undersigned has executed this Certificate this [    ] day of
[                    ], 20[    ]. 

 

			
	MICROVISION, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 DISCLOSURE SCHEDULE 

RELATING TO THE COMMON STOCK 
 PURCHASE AGREEMENT, DATED AS OF SEPTEMBER [    ], 2011 

BETWEEN MICROVISION, INC. AND AZIMUTH OPPORTUNITY LTD. 
 This disclosure schedule is made and given pursuant to Article IV of the Common Stock Purchase Agreement, dated as of September 13, 2011 (the “Agreement”), by and between
Microvision, Inc., a Delaware corporation (the “Company”), and Azimuth Opportunity Ltd., an international business company incorporated under the laws of the British Virgin Islands. Unless the context otherwise requires, all
capitalized terms are used herein as defined in the Agreement. The numbers below correspond to the section numbers of representations and warranties in the Agreement most directly modified by the below exceptions.

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