Document:

Form of Intercreditor Agreement

 Exhibit 4.16 
 INTERCREDITOR AGREEMENT 
 Dated as of [*], 2008 
 by and among 
 PAUL ROYALTY FUND HOLDINGS II

 as First Lien Holder and Control Agent 
 and 
 U.S. BANK NATIONAL ASSOCIATION 
 as Second Lien Agent 
 and 
 GUARDIAN II ACQUISITION CORPORATION 
 and 
 OSCIENT PHARMACEUTICALS CORPORATION 

 TABLE OF CONTENTS 
  

			
	 	  	Page
	 RECITALS
	  	1
		
	 AGREEMENT
	  	2
		
	 SECTION 1. Definitions.
	  	2
		
	 1.1      Defined Terms
	  	2
		
	 1.2      Terms Generally
	  	9
		
	 SECTION 2. Lien Priorities.
	  	9
		
	 2.1      Relative Priorities
	  	9
		
	 2.2      Prohibition on Contesting Liens
	  	10
		
	 2.3      No New Liens
	  	11
		
	 2.4      Similar Liens and Agreements
	  	11
		
	 2.5      No Payment Subordination
	  	11
		
	 2.6      Nature of First Lien and Second Lien Obligations
	  	12
		
	 2.7      Limitations on Duties and Obligations
	  	12
		
	 SECTION 3. Enforcement.
	  	12
		
	 3.1      Exercise of Remedies
	  	12
		
	 3.2      Actions Upon Breach
	  	15
		
	 3.3      Right of Specific Performance for Purchase Option
	  	15
		
	 SECTION 4. Payments.
	  	16
		
	 4.1      Application of Proceeds
	  	16
		
	 4.2      Payment Turnover
	  	16
		
	 SECTION 5. Other Agreements.
	  	16
		
	 5.1      Releases
	  	16
		
	 5.2      Insurance
	  	17
		
	 5.3      Amendments to First Lien Documents and Second Lien Documents
	  	18
		
	 5.4      Gratuitous Bailee/Agent for Perfection
	  	20
		
	 5.5      When Discharge of First Lien Obligations Deemed to Not Have Occurred
	  	21
		
	 5.6      Purchase Option
	  	21

  

 (i) 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 SECTION 6. Insolvency Proceedings.
	  	22
		
	 6.1      Use of Cash Collateral and Financing Issues
	  	22
		
	 6.2      Sale of Collateral
	  	23
		
	 6.3      Relief from the Automatic Stay
	  	23
		
	 6.4      Adequate Protection
	  	23
		
	 6.5      No Waiver
	  	24
		
	 6.6      Avoidance Issues
	  	24
		
	 6.7      Post-Petition Interest
	  	24
		
	 6.8      Waiver
	  	25
		
	 6.9      Separate Grants of Security and Separate Classification
	  	25
		
	 6.10    Effectiveness in Insolvency Proceedings
	  	25
		
	 SECTION 7. Reliance; Waivers; Etc.
	  	26
		
	 7.1      Reliance
	  	26
		
	 7.2      No Warranties or Liability
	  	26
		
	 7.3      No Waiver of Lien Priorities
	  	26
		
	 7.4      Obligations Unconditional
	  	28
		
	 7.5      Recognition of First Lien Obligations
	  	29
		
	 SECTION 8. Miscellaneous.
	  	29
		
	 8.1      Conflicts
	  	29
		
	 8.2      Effectiveness; Continuing Nature of this Agreement; Severability
	  	29
		
	 8.3      Amendments; Waivers
	  	30
		
	 8.4      Information Concerning Financial Condition of the Borrower and its Subsidiaries
	  	30
		
	 8.5      Subrogation
	  	31
		
	 8.6      Application of Payments
	  	31
		
	 8.7      SUBMISSION TO JURISDICTION; WAIVERS
	  	31
		
	 8.8      Notices
	  	33
		
	 8.9      Further Assurances
	  	33
		
	 8.10    APPLICABLE LAW
	  	33
		
	 8.11    Binding on Successors and Assigns
	  	33
		
	 8.12    Specific Performance
	  	33

  

 (ii) 

 TABLE OF CONTENTS 
 (continued) 
  

			
	  	  	Page
	 8.13    Headings
	  	33
		
	 8.14    Counterparts
	  	34
		
	 8.15    Authorization
	  	34
		
	 8.16    No Third Party Beneficiaries
	  	34
		
	 8.17    Provisions Solely to Define Relative Rights
	  	34

  

 (iii) 

 INTERCREDITOR AGREEMENT 
 This INTERCREDITOR AGREEMENT (“Agreement”), is dated as of [DATE], and entered into by and among PAUL ROYALTY FUND HOLDINGS
II, a California general partnership (the “First Lien Holder”), and U.S. BANK NATIONAL ASSOCIATION, in its capacity as collateral agent for the Second Lien Noteholders (as defined below), including its successors and
assigns from time to time (the “Second Lien Agent”) and PAUL ROYALTY FUND HOLDINGS II, in its capacity as control agent for the First Lien Holder and the Second Lien Agent, including its successors and assigns from time to
time (the “Control Agent”) and acknowledged and agreed to by GUARDIAN II ACQUISITION CORPORATION, a Delaware Corporation (“Guardian”) and OSCIENT PHARMACEUTICALS CORPORATION, a Massachusetts corporation
(“Oscient” or “Borrower”) and the other Grantors (as defined below). Capitalized terms used in this Agreement have the meanings assigned to them in Section 1 below. 
 RECITALS 
 Guardian and the
First Lien Holder are parties to that certain Revenue Interests Assignment Agreement dated July 21, 2006, by and among the First Lien Holder, Guardian and Oscient as amended pursuant to the Amendment to the Revenue Interests Assignment
Agreement dated [*] (as further amended, restated, supplemented, modified, replaced or refinanced from time to time, the “Revenue Interests Assignment Agreement”) 
 Guardian and the First Lien Holder, have entered into that Note Purchase Agreement dated July 21, 2006 (as amended, restated, supplemented,
modified, replaced or refinanced from time to time, the “First Lien Note Purchase Agreement”) in relation to the issuance of the First Lien Note; 
 Oscient, Guardian (as guarantor), the lenders and agents party thereto, and Second Lien Agent in its capacity as indenture trustee for the holders of the Second Lien Obligations (as defined below), entered into
that Indenture dated as of the date hereof (as amended, restated, supplemented, modified, replaced or refinanced from time to time, the “Second Lien Note Indenture”) providing for 12.50% Convertible Senior Notes Due 2011 (the
“Second Lien Notes”); 
 Pursuant to the Second Lien Note Indenture, Guardian has agreed to guaranty the Second Lien
Obligations; 
 The obligations of Guardian under the First Lien Documents will be secured on a first priority basis by liens on
substantially all the assets of Guardian, pursuant to the terms of the First Lien Collateral Documents; 
 The obligations of Guardian under
the Second Lien Note Indenture will be secured on a second priority basis by liens on substantially all the assets of Guardian, pursuant to the terms of the Second Lien Collateral Documents; 
  

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 The Control Agent, the First Lien Holder and the Second Lien Agent have agreed to the intercreditor and
other provisions set forth in this Agreement. 
 AGREEMENT 
 In consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency
and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 SECTION 1.
Definitions. 
 1.1 Defined Terms. As used in the Agreement, the following terms shall have the following meanings:

 “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. For purposes of this definition, a Person shall be deemed to “control” or be “controlled by” a Person if such Person
possesses, directly or indirectly, power to direct or cause the direction of the management or policies of such Person whether through ownership of Equity Interests, by contract or otherwise. 
 “Agreement” means this Intercreditor Agreement, as amended, restated, renewed, extended, supplemented or otherwise modified from time to
time. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and
hereafter in effect, or any successor statute. 
 “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state
or foreign law for the relief of debtors. 
 “Borrower” has the meaning assigned to that term in the Preamble to this
Agreement. 
 “Business Day” means a day other than a Saturday, Sunday or other day on which commercial banks in New York
City are authorized or required by law to close. 
 “Call Option” has the meaning given to that term in the Revenue
Interests Assignment Agreement. 
 “Collateral” means all of the property of Guardian, whether real, personal or mixed,
constituting (or required to constitute) both First Lien Collateral and Second Lien Collateral. 
 “Comparable Second Lien Collateral
Document” means, in relation to any Collateral subject to any Lien created under any First Lien Collateral Document, the Second Lien Loan Document that creates a Lien on the same Collateral, granted by the same Grantor. 
  

 2 

 “Control Agent” has the meaning set forth in the preamble hereof. 
 “Creditors” means, collectively, the First Lien Holder and the Second Lien Agent, on behalf of itself and the Second Lien Noteholders,
and their respective successors and assigns. 
 “DIP Financing” has the meaning assigned to that term in Section 6.1.

 “Discharge of First Lien Obligations” means, except to the extent otherwise expressly provided in Section 5.5, the
occurrence of all of the following: 
 (a) payment in full in cash of the principal of and interest on all indebtedness outstanding under the
First Lien Documents; 
 (b) payment in full in cash of all other First Lien Obligations (other than any indemnification obligations for
which no claim or demand for payment, whether oral or written, has been made at such time); and 
 (c) termination or expiration of all
commitments, if any, to extend credit that would constitute First Lien Obligations. 
 “Disposition” has the meaning
assigned to that term in Section 5.1(a)(ii). 
 “Enforcement Action” means any action under applicable law: 

(1) to foreclose, execute or levy on, collect on, take possession of or control of, or sell or otherwise realize upon (judicially or
non-judicially) or to lease, license or otherwise dispose of (whether publicly or privately), any Collateral or otherwise to exercise or enforce remedial rights with respect to Collateral under the First Lien Documents or the Second Lien Documents,
as applicable, or any other applicable agreement, document or instrument pertaining thereto (including, without limitation, by way of setoff, noticing of any public or private sale or other disposition pursuant to the UCC or other applicable law,
notification of account debtors, notification of depositary banks under deposit account control agreements or exercise of rights under landlord consents, if applicable), 
 (2) to solicit bids from third parties to conduct the liquidation or disposition of any Collateral or to engage or retain sales brokers,
marketing agents, investment bankers, accountants, appraisers, auctioneers or other third parties for the purposes of valuing, marketing, promoting and selling any Collateral, 
 (3) to receive a transfer of Collateral in satisfaction of any indebtedness or other obligation secured thereby, 
  

 3 

 (4) to commence, or join in, or otherwise provide support for, the commencement of an
Insolvency Proceeding against the owner of Collateral without the express written consent of the First Lien Holder, or 
 to otherwise enforce
any security interest or exercise any other right or remedy, as a secured creditor or otherwise, pertaining to the Collateral at law, in equity or pursuant to the First Lien Documents or the Second Lien Documents, as applicable, or any other
applicable agreement, document or instrument pertaining thereto (including, without limitation, the commencement of any applicable legal proceedings or other actions against or with respect to all or any portion of the Collateral to facilitate the
actions described in the immediately preceding clauses (1), (2) and (3), and exercising voting rights in respect of any Equity Interests comprising Collateral). 
 “Equity Interest” means with respect to any Person, any and all shares, interests, participations or other equivalents, including membership interests (however designated, whether voting or
non-voting) of equity of such Person, including, if such Person is a partnership, partnership interests (whether general or limited) or any other interest or participation that confers on a Person the right to receive a share of the profits and
losses of, or distributions of assets of, such partnership, but in no event will Equity Interest include any debt securities convertible or exchangeable into equity unless and until actually converted or exchanged. 
 “Event of Default” means “Event of Default” as defined in the First Lien Documents and/or “Event of Default” as
defined in the Second Lien Documents. 
 “First Lien Cap” means (i) $22,675,250.83, plus principal of the First Lien
Note resulting from interest that after November 5, 2008 is capitalized or paid-in-kind through issuance of additional First Lien Notes, less the amount of all subsequent repayments, prepayments, repurchases or other retirements for value of
principal of the First Lien Note; plus (ii) any and all amounts payable from time to time under the Revenue Interests Assignment Agreement as currently in effect, including without limitation, the amount of the Put/Call Price (as from time to
time in effect); plus (iii) $5,000,000. 
 “First Lien Collateral” means all of the property of any Grantor, whether
real, personal or mixed, with respect to which a Lien is granted pursuant to the First Lien Collateral Documents as security for any First Lien Obligations. 
 “First Lien Collateral Documents” means the First Lien Security Agreement and any other agreement, document or instrument pursuant to which any Grantor grants a Lien securing any First Lien
Obligations. 
 “First Lien Documents” means the Revenue Interests Assignment Agreement, the First Lien Note Purchase
Agreement, the First Lien Note, the First Lien Collateral Documents and each of the other agreements, documents and instruments providing for or evidencing any other First Lien Obligations, and any other document or 
  

 4 

 instrument executed or delivered at any time in connection with any First Lien Obligations, including any intercreditor
or joinder agreement among holders of First Lien Obligations, to the extent such are effective at the relevant time, as each may be amended, restated, supplemented, modified, renewed or extended from time to time in accordance with the provisions of
this Agreement. 
 “First Lien Holder” has the meaning assigned to that term in the Preamble to this Agreement. 

“First Lien Note” means the $20,000,000 12% Senior Secured Note dated August 18, 2006, issued by Guardian in favor of the First
Lien Holder in accordance with the First Lien Note Purchase Agreement. 
 “First Lien Note Purchase Agreement” has the
meaning assigned to that term in the Recitals to this Agreement. 
 “First Lien Obligations” means, at any time of
determination, all Obligations of the Borrower or any Grantor that are outstanding under either (i) the First Lien Note Purchase Agreement, or (ii) the other First Lien Documents, including the obligation to pay the Put/Call Price upon
exercise of the Put Option or Call Option. To the extent any payment with respect to the First Lien Obligations (whether by or on behalf of the Borrower or any Grantor, as proceeds of security, enforcement of any right of set-off or otherwise) is
declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be
reinstated and outstanding as if such payment had not occurred. 
 “First Lien Principal Obligations” means, at any time of
determination, the sum of (i) the aggregate unpaid amount of the First Lien Obligations constituting principal of indebtedness, including principal resulting from interest that after November 5, 2008 is capitalized or paid-in-kind through
issuance of additional First Lien Notes, and (ii) any and all amounts payable from time to time under the Revenue Interests Assignment Agreement as currently in effect, including without limitation, the amount of the Put/Call Price (as from
time to time in effect). 
 “First Lien Security Agreement” means the security agreement dated August 18, 2006 between
Guardian and Paul Royalty Fund Holdings II. 
 “Governmental Authority” means any federal, state, municipal, national or
other government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of
or pertaining to any government or any court, in each case whether associated with a state of the United States, the United States, or a foreign entity or government. 
 “Grantors” means Guardian and each other Person that has or may from time to time hereafter execute and deliver a First Lien Collateral Document or a Second Lien Collateral Document as a
“grantor” or “pledgor” (or the equivalent thereof). 
  

 5 

 “Guardian” has the meaning assigned to that term in the Preamble to this Agreement.

 “Insolvency Proceeding” means: 
 (a) any voluntary or involuntary case or proceeding under the Bankruptcy Code with respect to the Borrower or any Grantor; 
 (b) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to the Borrower or
any Grantor or with respect to a material portion of their respective assets; 
 (c) any liquidation, dissolution, reorganization or winding
up of the Borrower or any Grantor whether voluntary or involuntary and whether or not involving insolvency or bankruptcy (other than a Grantor that owns no material assets or business operations); or 
 (d) any assignment for the benefit of creditors or any other marshalling of assets and liabilities of the Borrower or any Grantor. 
 “Lien” means any lien (including, without limitation, judgment liens and liens arising by operation of law), mortgage or deed of trust,
pledge, hypothecation, assignment, security interest, charge or encumbrance of any kind (including any agreement to give any of the foregoing, any conditional sale or other title retention agreement, and any lease in the nature thereof) and any
option, call, trust, UCC financing statement or other preferential arrangement having the practical effect of any of the foregoing, including any right of setoff or recoupment. 
 “New Agent” has the meaning assigned to that term in Section 5.5. 
 “Obligations” means all obligations of every nature of the Borrower and each Grantor from time to time owed to the First Lien Holder,
the Second Lien Agent, the Second Lien Noteholders or any of them or their respective Affiliates under the First Lien Documents, the Second Lien Documents, whether for principal, interest, fees, expenses, indemnification or otherwise and all
guarantees of any of the foregoing, whether absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Person or any Affiliate thereof of any
proceeding under any Bankruptcy Law naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 
 “Oscient” has the meaning assigned to that term in the Recitals to this Agreement. 
 “Permitted Modification” means a modification that complies with Section 5.3(a), (b) or (c), as applicable, including each
proviso thereto. 
  

 6 

 “Permitted Refinancing” means a Refinancing that complies with Section 5.3(a),
(b) or (d), as applicable, including each proviso thereto. 
 “Person” means any natural person, corporation, limited
liability company, trust, business trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Pledged Collateral” has the meaning set forth in Section 5.4(a). 
 “Post-Petition Interest”
means interest, fees, expenses and other charges that pursuant to the First Lien Documents or the Second Lien Documents, continue to accrue after the commencement of any Insolvency Proceeding, whether or not such interest, fees, expenses and other
charges are allowed or allowable under the Bankruptcy Law or in any such Insolvency Proceeding. 
 “Proceeds” means
(a) all “Proceeds” as defined in Article 9 of the UCC with respect to the Collateral, and (b) whatever is recoverable or recovered when Collateral is sold, exchanged, collected, or disposed of, whether voluntarily or
involuntarily. 
 “Put Option” has the meaning given to that term in the Revenue Interests Assignment Agreement. 

“Put/Call Price” has the meaning given to that term in the Revenue Interests Assignment Agreement as currently in effect. 

“Recovery” has the meaning set forth in Section 6.6. 
 “Refinance” means, in respect of any of the First Lien Obligations or Second Lien Obligations (as the case may be), to refinance,
replace, refund or repay, or to issue other indebtedness, in exchange or replacement for, such First Lien Obligations or Second Lien Obligations (as the case may be) in whole or in part, whether with the same or different lenders, agents, or
arrangers. “Refinanced” and “Refinancing” shall have correlative meanings. 
 “Revenue Interests
Assignment Agreement” has the meaning assigned to that term in the Recitals to this Agreement. 
 “Second Lien
Agent” has the meaning assigned to that term in the Preamble of this Agreement. 
 “Second Lien Collateral” means
all of the property of any Grantor, whether real, personal or mixed, with respect to which a Lien is granted pursuant to the Second Lien Collateral Documents as security for any Second Lien Obligations. 
 “Second Lien Collateral Documents” means the security agreement dated on or about the date hereof among Guardian and the Second Lien
Agent and any other agreement, document or instrument pursuant to which any Grantor grants a Lien securing any Second Lien Obligations. 
  

 7 

 “Second Lien Documents” means the Second Lien Note Indenture, the Second Lien Notes, the
Second Lien Collateral Documents and each of the other agreements, documents and instruments providing for or evidencing any other Second Lien Obligations, and any other document or instrument executed or delivered at any time in connection with any
Second Lien Obligations, including any intercreditor or joinder agreement among holders of Second Lien Obligations to the extent such are effective at the relevant time, as each may be amended, restated, supplemented, modified, renewed or extended
from time to time in accordance with the provisions of this Agreement. 
 “Second Lien Notes” has the meaning assigned to
that term in the Recitals to this Agreement. 
 “Second Lien Note Indenture” has the meaning assigned to that term in the
Recitals to this Agreement. 
 “Second Lien Noteholders” means, at any relevant time, the holders of Second Lien Obligations
at that time, being the beneficial holders of notes issued under the Second Lien Note Indenture. 
 “Second Lien
Obligations” means, at any time of determination, all Obligations of the Borrower and any Grantor that are outstanding under either (i) the Second Lien Note Indenture, or (ii) the other Second Lien Documents, in each case above
except to the extent a claim for such Obligations is not allowed or allowable in an Insolvency Proceeding applicable to the relevant obligor thereon. To the extent any payment with respect to the Second Lien Obligations (whether by or on behalf of
the Borrower or any Grantor, as proceeds of security, enforcement of any right of set-off or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or
similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. Notwithstanding anything else set forth in this Agreement, otherwise
between the parties, or applicable law, the Second Lien Obligations (other than Second Lien Obligations owned or controlled by the First Lien Holder or its Affiliates) shall not exceed $140,000,000 principal amount, plus any interest, including
without limitation, interest that is capitalized or paid-in-kind through issuance of additional Second Lien Notes, and fees, including without limitation, fees and expenses of counsel to the Second Lien Agent, payable by the Borrower or any Grantor
in connection with the Second Lien Obligations. 
 “Second Lien Principal Obligations” means, at any time of determination,
the aggregate unpaid amount of the Second Lien Obligations constituting principal of indebtedness. 
  

 8 

 “Subsidiary” means, with respect to any Person, of which more than 50% of the total
voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar
functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination
thereof. 
 “Third Party Creditor” has the meaning set forth in Section 2.1(b) hereof. 
 “UCC” means the Uniform Commercial Code (or any similar or equivalent legislation) as in effect in any applicable jurisdiction.

 1.2 Terms Generally. The definitions of terms in this Agreement 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, restated, supplemented, modified, renewed or extended; 
 (b) any reference herein to any Person
shall be construed to include such Person’s permitted 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 Sections shall be construed to refer to Sections of 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 general intangibles.

 SECTION 2. Lien Priorities. 
 2.1 Relative Priorities. (a) Notwithstanding the date, time, method, manner or order of recognition, creation, grant, attachment or perfection (including, without limitation, the order of filing or recordation of any
mortgage, financing statement or other document or notice in any jurisdiction or under any applicable law) of any Liens securing the Second Lien Obligations granted on the Collateral or of any Liens securing 
  

 9 

 the First Lien Obligations granted on the Collateral and notwithstanding any provision of the UCC or any other applicable
law or the provisions of the First Lien Documents or the Second Lien Documents, or any defect or deficiencies in, or failure to perfect, the Liens securing the First Lien Obligations or any other circumstance whatsoever (including whether or not any
Liens securing any First Lien Obligations are subordinated to any Lien securing any other obligation of Guardian, Oscient, any other of the Grantors or any other Person) each of the Second Lien Agent, on behalf of itself and the Second Lien
Noteholders, and the First Lien Holder hereby agrees that: 
 (i) all Liens on the Collateral granted under or pursuant to the
First Lien Collateral Documents in favor of the First Lien Holder or any agent or trustee therefor securing the First Lien Principal Obligations up to but not exceeding the First Lien Cap shall be and remain senior in all respects and prior to all
Liens on the Collateral that are held by the Second Lien Agent, the Second Lien Noteholders or any agent or trustee therefor, whether obtained by grant, possession, operation of law, subrogation or otherwise, securing any Second Lien Obligations;
and 
 (ii) all Liens on the Collateral that are held from time to time by the Second Lien Agent, the Second Lien Noteholders
or any agent or trustee therefor, whether obtained by grant, possession, operation of law, subrogation or otherwise, securing any Second Lien Obligations shall be and remain junior and subordinate in all respects to all Liens on the Collateral
granted under or pursuant to the First Lien Collateral Documents in favor of the First Lien Holder or any agent or trustee therefor securing First Lien Principal Obligations up to but not exceeding the First Lien Cap. 
 (b) The lien priorities provided in this Section 2.1 in respect of the Collateral shall not be altered or otherwise affected by any Permitted
Modification of the Second Lien Documents or Permitted Modification of the First Lien Documents or any Permitted Refinancing of the Second Lien Obligations or Permitted Refinancing of the First Lien Obligations, or by any action that any Creditor
may take or fail to take in respect of any Grantor or the Collateral. Except as expressly provided in this Agreement, the First Lien Holder agrees not to contractually subordinate its Lien on any Collateral to the Lien of any other creditor
(“Third Party Creditor”) of any Grantor without the prior written consent of Second Lien Agent, unless the aggregate of the First Lien Principal Obligations and the principal obligations owed to the Third Party
Creditor equals an amount which does not exceed the First Lien Cap, provided, however, that this sentence shall not apply to liens governed by Section 6.1. 
 2.2 Prohibition on Contesting Liens. Each of the Second Lien Agent, for itself and on behalf of each Second Lien Noteholder, and the First Lien Holder agrees that it will not contest, or support any
other Person in contesting, in any proceeding (including an Insolvency Proceeding) the validity, perfection, priority (as set forth in Section 2.1) or enforceability of the Liens of the other Creditor granted, in the case of the First Lien
Obligations, pursuant to the First Lien Collateral Documents or, in the case of the Second Lien Obligations, pursuant to the Second Lien Collateral Documents, upon 
  

 10 

 the property of the Grantors that is Collateral, and that as between First Lien Holder and the Second Lien Agent and
Second Lien Noteholders, the terms of this Agreement shall govern the priority of their respective Liens referred to above on or in the Collateral securing the First Lien Obligations or Second Lien Obligations, respectively. 
 2.3 No New Liens. So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency Proceeding has been
commenced by or against the Borrower or any other Grantor, the parties hereto agree that neither the Borrower nor any other Grantor shall grant or permit, nor shall the Second Lien Agent nor the Second Lien Noteholder acquire, any additional Liens
on any asset or property to secure any Second Lien Obligations unless a senior perfected Lien on such asset or property has been or is concurrently created and perfected to secure the First Lien Obligations. To the extent that the foregoing
provisions are not complied with for any reason, without limiting any other rights, privileges, powers, and remedies hereunder, each of the Second Lien Agent and the Second Lien Noteholder agrees that any amounts received by or distributed to any of
them pursuant to or as a result of Liens granted in contravention of this Section 2.3 shall be subject to the terms of this Agreement, and any Lien held by either the Second Lien Agent or the Second Lien Noteholder on any asset or property on
which the First Lien Holder does not have a Lien, in contravention of the provisions of this Agreement, shall be subject to the terms of this Agreement and shall be held by the Second Lien Agent or Second Lien Noteholder, as the case may be, in
trust for the First Lien Holder and/or, at the option of the First Lien Holder, be released or assigned to the First Lien Holder as security for the First Lien Obligations. 
 2.4 Similar Liens and Agreements. The parties hereto agree that it is their intention with respect to assets of Guardian and its
Subsidiaries that the First Lien Collateral and the Second Lien Collateral be identical and that the guaranties, indemnities or credit support provided by Guardian and its Subsidiaries which guarantee, indemnify or otherwise support the First Lien
Obligations and the Second Lien Obligations be identical. In furtherance of the foregoing and of Section 8.9, the parties hereto agree, subject to the other provisions of this Agreement upon request by the First Lien Holder or the Second Lien
Agent, to cooperate in good faith (and to direct their counsel to cooperate in good faith) from time to time in order to determine the specific assets of Guardian and its Subsidiaries included in the First Lien Collateral and the Second Lien
Collateral and the steps taken to perfect their respective Liens thereon, and the identity of the respective parties obligated under the First Lien Documents and the Second Lien Documents. 
 2.5 No Payment Subordination. The subordination of all Liens on the Collateral securing any Second Lien Obligations to all Liens on the
Collateral securing any First Lien Obligations as set forth in this Agreement is with respect to only the priority of the Liens held by the First Lien Holder to the extent set forth in Section 2.1 and shall not constitute a subordination of the
Second Lien Obligations to the First Lien Obligations. 
  

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 2.6 Nature of First Lien and Second Lien Obligations. 
 (a) Subject to Section 5.3 hereof, the Second Lien Agent acknowledges that: (i) the terms of the First Lien Obligations may be modified,
extended or amended from time to time; and (ii) the aggregate amount of the First Lien Obligations may be increased or Refinanced, in either event, without notice to or consent by the Second Lien Agent or the Second Lien Noteholders and without
affecting the provisions hereof. 
 (b) Subject to Section 5.3 hereof, the First Lien Holder acknowledges that (i) the terms of the
Second Lien Obligations may be modified, extended or amended from time to time, and (ii) the aggregate amount of the Second Lien Obligations may be increased or Refinanced, in either event, without notice to or consent by the First Lien Holder
and without affecting the provisions hereof (for the avoidance of doubt, expressly subject to the last sentence in the definition of Second Lien Obligations). 
 (c) The lien priorities provided in Sections 2.1 and 2.2 shall not be altered or otherwise affected by any such amendment, modification, supplement, extension, repayment, reborrowing, increase, replacement, renewal,
restatement or Refinancing of either the First Lien Obligations or the Second Lien Obligations, or any portion thereof. 
 2.7
Limitations on Duties and Obligations. Each of the Second Lien Agent, for itself and on behalf of each Second Lien Noteholder, and the First Lien Holder agrees that, except in the case of the obligations of the First Lien Holder under
Section 5.4 as bailee and agent for perfection for the Second Lien Agent, each of the First Lien Holder and the Second Lien Agent (on behalf of the Second Lien Noteholders) shall be solely responsible for perfecting and maintaining the
perfection of its Lien in and to each item constituting the Collateral in which the First Lien Holder or the Second Lien Agent (on behalf of the Second Lien Noteholders) has been granted a Lien. The foregoing provisions of this Agreement are
intended solely to govern the respective Lien priorities as between the Creditors and shall not impose on either the First Lien Holder or the Second Lien Agent (on behalf of the Second Lien Noteholders) any obligations in respect of the disposition
of proceeds of foreclosure on any Collateral that would conflict with prior perfected claims therein in favor of any other Person or any order or decree of any court or other Governmental Authority or any applicable law. 
 SECTION 3. Enforcement. 
 3.1
Exercise of Remedies. 
 (a) Until the Discharge of First Lien Obligations has occurred, whether or not any Insolvency Proceeding
has been commenced by or against the Borrower or any other Grantor, the Second Lien Agent and the Second Lien Noteholders: 
 (1) will not (and hereby waive any right, privilege, or power to) take any Enforcement Action with respect to any Lien held by it under the Second Lien Collateral Documents or any other Second Lien Loan Document or otherwise; 
  

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 (2) will not (and hereby waive any right, privilege, or power to) contest, protest or
object to any Enforcement Action brought by the First Lien Holder or any other exercise by the First Lien Holder of any rights and remedies relating to the Collateral under the First Lien Documents or otherwise; and 
 (3) will not (and hereby waive any right, privilege, or power to) contest, protest or object to (and waive any and all claims with respect
to) action or forbearance by the First Lien Holder in bringing or pursuing any Enforcement Action so long as the Liens granted to secure the Second Lien Obligations of the Second Lien Noteholders attach to the Proceeds thereof (to the extent that
such Proceeds exceed the First Lien Obligations and subject to the relative priorities described in Section 2.1). 
 (b) Until the
Discharge of First Lien Obligations has occurred, whether or not any Insolvency Proceeding has been commenced by or against the Borrower or any other Grantor, the First Lien Holder shall have the exclusive right to enforce rights and remedies with
respect to the Collateral, commence, and if applicable, maintain an Enforcement Action (including set-off and the right to credit bid their debt) and to make determinations regarding the release, disposition, or restrictions with respect to the
Collateral without any consultation with or the consent of the Second Lien Agent or any Second Lien Noteholder. In exercising rights and remedies with respect to the Collateral and Enforcement Actions with respect to the Collateral, the First Lien
Holder may enforce the provisions of the First Lien Documents and exercise remedies thereunder, all in such order and in such manner as it may determine in the exercise of its sole discretion. Such exercise and enforcement shall include the rights
of an agent appointed by it to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured
creditor under Bankruptcy Laws of any applicable jurisdiction. 
 (c) Subject to their obligations under this Agreement, the Second Lien
Agent and any Second Lien Noteholder may: 
 (1) file a claim or statement of interest with respect to the Second Lien
Obligations in any Insolvency Proceeding commenced by or against the Borrower or any other Grantor; 
 (2) take any action
(not adverse to the priority status of Liens on the Collateral securing the First Lien Obligations, or the rights of the First Lien Holder to exercise remedies in respect thereof) in order to create, perfect, preserve or protect its Lien on the
Collateral; 
 (3) file any necessary responsive or defensive pleadings in opposition to any motion, claim, adversary
proceeding or other pleading made by 
  

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 any person objecting to or otherwise seeking the disallowance of the claims of the Second Lien
Noteholders, including any claims secured by the Collateral, if any, in each case in accordance with the terms of this Agreement; 
 (4) vote on any plan of reorganization (including, without limitation, vote to accept or reject any plan of partial or complete liquidation, reorganization, arrangement, composition or extension), file any proof of claim, initiate or file
claims for fraud or breach of representations and warranties, make other filings and make any arguments and motions that are, in each case, in accordance with the terms of this Agreement, with respect to the Second Lien Obligations and the
Collateral, provided, however, in no event shall the Second Lien Agent or the Second Lien Noteholders vote to accept any plan of reorganization that does not recognize and give effect to the rights and relative priorities of the First Lien Holder as
set forth under this Agreement; 
 (5) join (but not exercise any control with respect to) any judicial foreclosure proceeding
or other judicial lien enforcement proceeding with respect to the Collateral initiated by the First Lien Holder solely to the extent legally necessary to protect its security interest in the Collateral and to the extent that any such action could
not reasonably be expected, in any material respect, to restrain, hinder, limit, delay for any material period or otherwise interfere with the Enforcement Action by the First Lien Holder (it being understood that neither the Second Lien Agent nor
any Second Lien Noteholder shall be entitled to receive any proceeds thereof unless otherwise expressly permitted herein). 
 The Second Lien
Agent, on behalf of itself and the Second Lien Noteholders, agrees that it will not take or receive any Collateral or any Proceeds of Collateral in connection with any Enforcement Action against any Collateral in its capacity as a creditor, unless
and until the Discharge of First Lien Obligations has occurred. Without limiting the generality of the foregoing, unless and until the Discharge of First Lien Obligations has occurred, except as expressly provided in Sections 6.4(b) and this
Section 3.1(c), the sole right of the Second Lien Agent and the Second Lien Noteholders with respect to the Collateral is to hold a Lien on the Collateral pursuant to the Second Lien Collateral Documents for the period and to the extent granted
therein and to receive a share of the proceeds thereof, if any, after the Discharge of First Lien Obligations has occurred in accordance with the terms of the Second Lien Documents and applicable law. 
 (d) Subject to Sections 3.1(c) and Section 6.4(b): 
 (1) the Second Lien Agent, for itself and on behalf of the Second Lien Noteholders, agrees that the Second Lien Agent and the Second Lien Noteholders will not take any action that would hinder any exercise of remedies
under the First Lien Documents or is otherwise prohibited hereunder, including any sale, lease, exchange, transfer or other disposition of the Collateral, whether by foreclosure or otherwise; 
  

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 (2) the Second Lien Agent, for itself and on behalf of the Second Lien Noteholders,
hereby waives any and all rights it or the Second Lien Noteholders may have as a junior lien creditor or otherwise to object to the manner in which the First Lien Holder seeks to enforce or collect the First Lien Obligations or the Liens securing
the First Lien Obligations granted in any of the First Lien Collateral undertaken in accordance with this Agreement, regardless of whether any action or failure to act by or on behalf of the First Lien Holder is adverse to the interest of the Second
Lien Noteholders; and 
 (3) the Second Lien Agent hereby acknowledges and agrees that, except as set forth in this Agreement,
no covenant, agreement or restriction contained in the Second Lien Collateral Documents or any other Second Lien Document shall be deemed to restrict in any way the rights and remedies of the First Lien Holder with respect to the Collateral as set
forth in this Agreement and the First Lien Documents. 
 (e) Except as specifically set forth in Sections 3.1(a) and (d), nothing in this
Agreement shall prohibit the payment by Oscient to the Second Lien Agent or any Second Lien Noteholders of the required payments of interest, principal and other amounts owed in respect of the Second Lien Obligations so long as such receipt is not
the direct or indirect result of any Enforcement Action by the Second Lien Agent or any Second Lien Noteholders of rights or remedies as a secured creditor in contravention of this Agreement of any Lien held by any of them. Nothing in this Agreement
impairs or otherwise adversely affects any rights or remedies the First Lien Holder may have with respect to the First Lien Collateral. 
 3.2 Actions Upon Breach. If any Second Lien Noteholder, in contravention of the terms of this Agreement, in any way takes, attempts to or threatens to take or participate in any Enforcement Action with respect to the
Collateral, or fails to take any action required by this Agreement, the First Lien Holder may obtain relief against such Second Lien Noteholder by injunction, specific performance and/or other appropriate equitable relief, it being understood and
agreed by the Second Lien Agent on behalf of each Second Lien Noteholder that (i) the First Lien Holder’s damages from its actions may at that time be difficult to ascertain and may be irreparable, and (ii) each Second Lien Noteholder
waives any defense that the Grantors and/or the First Lien Holder cannot demonstrate damage and/or be made whole by the awarding of damages. 
 3.3 Right of Specific Performance for Purchase Option. If the purchase option described in Section 5.6 is validly and timely exercised and the First Lien Holder fails to assign the First Lien
Obligations to the Second Lien Noteholders exercising such purchase option, then in addition to all other remedies at law or in equity, the Second Lien Noteholders exercising such purchase option shall have a remedy of specific performance.

  

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 SECTION 4. Payments. 
 4.1 Application of Proceeds. So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency Proceeding
has been commenced by or against the Borrower or any other Grantor, except as otherwise provided in Section 2.1, any Collateral or Proceeds thereof received in connection with the sale or other disposition of, or collection on, such Collateral
upon the exercise of remedies in connection with any Enforcement Action shall be applied: (a) first, to the payment in full of the First Lien Obligations in such order as specified in the relevant First Lien Documents or as otherwise determined
by the First Lien Holder and (b) second, upon the Discharge of First Lien Obligations, to the payment in full of the Second Lien Obligations in such order as specified in the Second Lien Documents. 
 4.2 Payment Turnover. So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency Proceeding has
been commenced by or against the Borrower or any other Grantor, any Collateral or Proceeds thereof (including assets or Proceeds subject to Liens referred to in Section 2.3) received by the Second Lien Agent or any Second Lien Noteholders
relating to the Collateral, including any Enforcement Action relating to the Collateral, shall be segregated and held in trust and forthwith paid over to the First Lien Holder in the same form as received, with any necessary endorsements or as a
court of competent jurisdiction may otherwise direct. The First Lien Holder is hereby authorized to make any such endorsements as agent for the Second Lien Agent or any such Second Lien Noteholders. This authorization is coupled with an interest and
is irrevocable until the Discharge of First Lien Obligations. 
 SECTION 5. Other Agreements. 
 5.1 Releases. 
 (a) If, in
connection with: 
 (i) an Enforcement Action by the First Lien Holder; or 
 (ii) any sale, lease, license, exchange, transfer or other disposition of any Collateral permitted under the terms of the First Lien
Documents or consented to by the First Lien Holder other than an Enforcement Action (whether or not an event of default thereunder, and as defined therein, has occurred and is continuing) (a “Disposition”); 
 (1) the First Lien Holder releases any of its Liens on any part of the Collateral, then the Liens, if any, of the Second Lien Agent, for
itself or for the benefit of the Second Lien Noteholders, on such Collateral, shall be automatically, unconditionally and simultaneously released (the “Second Lien Release”) and the Second Lien Agent, for itself or on behalf of any
such Second Lien Noteholders, promptly shall execute and deliver to the First Lien Holder or such Grantor such termination statements, releases and other documents as the First Lien Holder or such Grantor may request to effectively confirm such
release provided that as to the relevant Disposition of the Proceeds are applied in accordance with the application of recoveries provisions under Section 4. 
  

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 (b) If, in connection with a license of Collateral, the First Lien Holder executes a subordination and
non-disturbance agreement or similar agreement with a licensee of Collateral, then the Second Lien Agent, for itself and for the benefit of the Second Lien Noteholders, shall be deemed to have agreed to subordinate its Liens to the rights of such
licensee and to have agreed not to disturb the rights of such licensee, all on the same basis and to the extent agreed by the First Lien Holder and the Second Lien Agent upon request promptly shall execute and deliver to the First Lien Holder and
such licensee confirmation of such agreement. 
 (c) Until the Discharge of First Lien Obligations occurs, the Second Lien Agent, for itself
and on behalf of the Second Lien Noteholders, hereby irrevocably constitutes and appoints the First Lien Holder and any officer or agent of the First Lien Holder, with full power of substitution, as its true and lawful attorney-in-fact with full
irrevocable power and authority in the place and stead of the Second Lien Agent or such holder or in the First Lien Holder’s own name, from time to time in the First Lien Holder’s discretion, for the limited purpose of carrying out the
terms of this Section 5.1, to take any and all reasonable and appropriate action and to execute any and all documents and instruments which may be necessary to accomplish the purposes of this Section 5.1, including any endorsements or
other instruments of transfer or release. This authorization is coupled with an interest and is irrevocable until such time as this Agreement is terminated in accordance with its terms. 
 5.2 Insurance. The First Lien Holder and the Second Lien Agent shall be named as additional insureds and/or loss payees, as applicable, and
the Control Agent shall be named as first loss payee (on behalf of the First Lien Holder, the Second Lien Agent and the Second Lien Noteholders) under any insurance policies maintained from time to time by Guardian. Unless and until the Discharge of
First Lien Obligations has occurred, the First Lien Holder shall have the sole and exclusive right, subject to the rights of Guardian under the First Lien Documents, to adjust settlement for any insurance policy covering the Collateral in the event
of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. Unless and until the Discharge of First Lien Obligations has occurred, and subject to
the rights of Guardian under the First Lien Documents, all Proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) if in respect to the Collateral shall be paid to the First Lien Holder
pursuant to the terms of the First Lien Documents and thereafter, to the extent no First Lien Obligations are outstanding, and, subject to the rights of the Grantors under the Second Lien Documents, to the Second Lien Agent for the benefit of the
Second Lien Noteholders to the extent required under the Second Lien Collateral Documents and then, to the extent no Second Lien Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a
court of competent jurisdiction may otherwise direct. Until the Discharge of First Lien Obligations has occurred, if the Second Lien Agent or any Second Lien Noteholders shall, at any time, receive any Proceeds of any such insurance policy or any
such award 
  

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 or payment in contravention of this Agreement, it shall segregate and hold in trust and forthwith pay such Proceeds over
to the First Lien Holder in accordance with the terms of Section 4.2. 
 5.3 Amendments to First Lien Documents and Second
Lien Documents. 
 (a) The First Lien Documents may be amended, supplemented or otherwise modified in accordance with their terms and the
First Lien Note may be Refinanced, in each case, without notice to or the consent of the Second Lien Agent or the Second Lien Noteholders, all without affecting the lien subordination or other provisions of this Agreement; provided,
however, that (x) the holders of such Refinancing debt (or the agent for such holders) bind themselves in a writing addressed to the Second Lien Agent to the terms of this Agreement and shall thereby be entitled to all the benefits of
this Agreement as if such holders of the Refinancing debt were the First Lien Holder and (y) any such amendment, supplement, modification or Refinancing shall not, without the consent of the Second Lien Agent: 
 (1) increase the sum of the then outstanding aggregate principal amount of the First Lien Note if such increase would cause First Lien
Principal Obligations to exceed the First Lien Cap; or 
 (2) modify or add any covenant or event of default under the First
Lien Documents which directly restricts the Borrower or one or more Grantors from making payments under the Second Lien Documents which would otherwise be permitted under the First Lien Documents as in effect on the date hereof. 
 (b) The Second Lien Documents may be amended, supplemented or otherwise modified in accordance with their terms, and the Second Lien Notes may be
Refinanced, in each case, with the consent of the First Lien Holders, which consent shall not be unreasonably withheld, all without affecting the lien subordination or other provisions of this Agreement; provided, however, that
(x) the holders of such Refinancing debt (or the agent for such holders) bind themselves in a writing addressed to the First Lien Holder to the terms of this Agreement and (y) any such amendment, supplement, modification or Refinancing
shall not, without the consent of the First Lien Holder: 
 (1) modify the method of computing interest or increase the
interest rate or yield provisions applicable to the Second Lien Obligations by more than 4% per annum in the aggregate (excluding increases (A) resulting from increases in an underlying reference rate not caused by any amendment,
supplement, modification or Refinancing of the Second Lien Obligations or (B) resulting from the accrual of interest at the Default Rate (as defined in the Second Lien Note Indenture); or 
  

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 (2) modify or add any covenant or event of default under the Second Lien Documents which
in any way, directly or indirectly, restricts the Borrower or one or more Grantors from making payments under the First Lien Documents; 
 (3) change to earlier dates any dates upon which payments of principal or interest are due thereon; 
 (4) change the prepayment or redemption provisions thereof; or 
 (5) change or amend any other term of the Second
Lien Documents if such change or amendment would result in a default under a First Lien Document as in effect on the date hereof. 
 (c) The
parties agree that each Second Lien Collateral Document shall include the following language (or language to similar effect approved by the First Lien Holder): 
 “Notwithstanding anything herein to the contrary, the lien and security interest granted to the Second Lien Agent pursuant to this Agreement and the exercise of any right or remedy by the Second Lien Agent
hereunder are subject to the provisions of the Intercreditor Agreement, dated as of [                    ] (as amended, restated, supplemented
or otherwise modified from time to time, the “Intercreditor Agreement”), among Paul Royalty Fund Holdings II, as First Lien Holder and Control Agent and U.S. Bank National Association, as Second Lien Agent, the Borrower and the
Grantors (as defined therein) from time to time a party thereto and certain other persons party or that may become party thereto from time to time. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the
terms of the Intercreditor Agreement shall govern and control.” 
 In the event the First Lien Holder and the relevant
Grantor enter into any amendment, waiver or consent in respect of any of the First Lien Collateral Documents for the purpose of adding to, or deleting from, or waiving or consenting to any departures from any provisions of, any First Lien Collateral
Document or changing in any manner the rights of the First Lien Holder, the Borrower or any other Grantor thereunder, then such amendment, waiver or consent shall apply automatically to any comparable provision of the Comparable Second Lien
Collateral Document without the consent of the Second Lien Agent or the Second Lien Noteholders and without any action by the Second Lien Agent, the Borrower or any other Grantor. 
  

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 5.4 Gratuitous Bailee/Agent for Perfection. 
 (a) The First Lien Holder agrees to hold that part of the Collateral that is in its possession or control (or in the possession or control of its agents
or bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon under the UCC (such Collateral being the “Pledged Collateral”) as holder of the collateral pursuant to the First Lien Documents and as
gratuitous bailee and agent for perfection for the Second Lien Agent (such bailment and agency for perfection being intended, among other things, to satisfy the requirements of Sections 8-106(d)(3), 8-301(a)(2) and 9-313(c) of the UCC) and any
assignee solely for the purpose of perfecting the security interest granted under the First Lien Documents and the Second Lien Documents, respectively, subject to the terms and conditions of this Section 5.4. Solely with respect to any deposit
accounts under the control (within the meaning of Section 9-104 0f the UCC) of the First Lien Holder, the First Lien Holder agrees to also hold control over such deposit accounts as gratuitous agent for the Second Lien Agent, subject to the
terms and conditions of this Section 5.4. 
 (b) The First Lien Holder shall have no obligation whatsoever to the Second Lien Agent or
any Second Lien Noteholder to ensure that the Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.4. The duties or responsibilities of the
First Lien Holder under this Section 5.4 shall be limited solely to holding the Pledged Collateral as bailee (and with respect to deposit accounts, agent) in accordance with this Section 5.4 and delivering the Pledged Collateral upon a
Discharge of First Lien Obligations as provided in paragraph (d) below. 
 (c) The First Lien Holder shall not have by reason of the
First Lien Collateral Documents, the Second Lien Collateral Documents, this Agreement or any other document a fiduciary relationship in respect of the Second Lien Agent or any Second Lien Noteholder and the Second Lien Agent and the Second Lien
Noteholders hereby waive and release the First Lien Holder from all claims and liabilities arising pursuant to the First Lien Holder’s role under this Section 5.4 as gratuitous bailee and gratuitous agent with respect to the Collateral. It
is understood and agreed that the interests of the First Lien Holder and the Second Lien Agent may differ and the First Lien Holder shall be fully entitled to act in its own interest without taking into account the interests of the Second Lien Agent
or Second Lien Noteholders. 
 (d) Upon the Discharge of First Lien Obligations, the First Lien Holder shall deliver the remaining Pledged
Collateral in its possession (if any) together with any necessary endorsements (such endorsement shall be without recourse and without any representation or warranty), first, to the Second Lien Agent to the extent Second Lien Obligations
remain outstanding, and second, to the Borrower to the extent no First Lien Obligations or Second Lien Obligations remain outstanding (in each case, so as to allow such Person to obtain possession or control of such Pledged Collateral). The
First Lien Holder further agrees to take all other action reasonably requested by the Second Lien Agent at the expense of the Borrower in connection with the Second Lien Agent obtaining a first-priority interest in the Collateral or as a court of
competent jurisdiction may otherwise direct. 
  

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 5.5 When Discharge of First Lien Obligations Deemed to Not Have Occurred. If, in connection
with or at any time after the Discharge of First Lien Obligations, the Borrower or Guardian enters into any Refinancing of any First Lien Document evidencing a First Lien Obligation, then such Discharge of First Lien Obligations shall automatically
be deemed not to have occurred for all purposes of this Agreement, and, from and after the date on which the New First Lien Debt Notice is delivered to the Second Lien Agent in accordance with the next sentence, the obligations under such
Refinancing of the First Lien Document shall automatically be treated as First Lien Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Collateral set forth herein, and the First
Lien Holder under such First Lien Documents shall be the First Lien Holder for all purposes of this Agreement. Upon receipt of a notice (the “New First Lien Debt Notice”) stating that the Borrower has entered into a new First Lien
Document (which notice shall include the identity of the new First Lien Holder or its agent, such new First Lien Holder or its agent, the “New Agent”), the Second Lien Agent shall promptly (a) enter into such documents and
agreements (including amendments or supplements to this Agreement) as the Borrower or such New Agent shall reasonably request in order to provide to the New Agent the rights contemplated hereby, in each case consistent in all material respects with
the terms of this Agreement and (b) deliver to the New Agent any Pledged Collateral held by it together with any necessary endorsements (or otherwise allow the New Agent to obtain control of such Pledged Collateral). The New Agent shall agree
in a writing addressed to the Second Lien Agent to be bound by the terms of this Agreement. If the new First Lien Obligations under the new First Lien Documents are secured by assets of Guardian constituting Collateral that do not also secure the
Second Lien Obligations, then the Second Lien Obligations shall be secured at such time by a second priority Lien on such assets to the same extent provided in the Second Lien Collateral Documents and this Agreement. 
 5.6 Purchase Option. 
 (a) If
the First Lien Holder has instigated any Enforcement Action, the Second Lien Agent may, within 30 days of the First Lien Holder instigating any such action and on giving not less than five Business Days’ notice to the First Lien Holder, at the
expense of the Second Lien Noteholders purchase or procure the purchase by the Second Lien Noteholders (or a person or persons nominated by them) of all (but not part only) of the First Lien Obligations and the rights and obligations of the First
Lien Holder under the First Lien Documents, provided however, that nothing herein shall require the First Lien Holder to postpone or defer any Enforcement Action pending exercise of the purchase option under this section. 
  

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 (b) Terms of Purchase. A purchase shall take effect on the following terms: 
 (1) payment in full in cash of an amount equal to the First Lien Obligations (including any make whole, prepayment premium or fees payable
in connection with the First Lien Obligations) outstanding as at the date that amount is to be paid and including, without limitation, the Put/Call Price; 
 (2) after the transfer, the First Lien Holder will not be under any actual or contingent liability to any obligor or any other person under this Agreement or any First Lien Document for which it is not holding cash
collateral in an amount and established on terms reasonably satisfactory to it in respect of the First Lien Obligations; and 
 (3) the relevant transfer shall be without recourse to, or warranty from, the First Lien Holder, except that the First Lien Holder shall be deemed to have warranted on the date of that transfer that: (A) it is the owner of the
beneficial interest, free from all security interests and third party interests (other than any arising under the First Lien Documents or by operation of law) in all rights and interests under the First Lien Documents purporting to be transferred by
it by that transfer; (B) it has the corporate power to effect that transfer; (C) it has taken all necessary action to authorize the making by it of that transfer; and (D) it will not contest or challenge the validity or effectiveness
of that transfer. 
 SECTION 6. Insolvency Proceedings. 
 6.1 Use of Cash Collateral and Financing Issues. Until the Discharge of First Lien Obligations has occurred, if the Borrower or any other Grantor shall be subject to any Insolvency Proceeding and the
First Lien Holder shall consent to the use of “Cash Collateral” (as such term is defined in Section 363(a) of the Bankruptcy Code), on which the First Lien Holder or any other creditor has a Lien, or shall permit the Borrower or any
other Grantor obtain financing under Section 364 of the Bankruptcy Code or any similar Bankruptcy Law (each, a “DIP Financing”), then, so long as the maximum principal amount of indebtedness that may be outstanding from time to
time in connection with such DIP Financing, together with the First Lien Principal Obligations outstanding at such time (after giving effect to the application of the proceeds of any DIP Financing to refinance all or any portion of the First Lien
Obligations) shall not exceed the First Lien Cap, the Second Lien Agent, on behalf of itself and the Second Lien Noteholders, (A) agrees that it will raise no objection to, or otherwise contest or interfere with, such use of cash collateral or
DIP Financing on the grounds of adequate protection or otherwise nor support any other Person objecting to, or otherwise contest or interfere with, such sale, use, or lease of cash collateral or DIP Financing and will not request any form of
adequate protection or any other relief in connection therewith (except as agreed by the First Lien Holder or to the extent expressly permitted by Section 6.4) and, to the extent the Liens securing the First Lien Obligations are subordinated to
or pari passu with such DIP Financing, the Second Lien Agent will subordinate its Liens in the Collateral to (x) the Liens securing such DIP Financing (and all Obligations relating thereto), (y) any adequate protection Liens provided to
the First Lien Holder and (z) any “carve-out” for professional and United States Trustee fees agreed to by the First Lien Holder; and 
  

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 (B) agrees that notice received two (2) calendar days prior to the entry of an order approving such usage of
cash collateral or approving such DIP Financing shall be adequate notice provided that the foregoing shall not prohibit the Second Lien Agent from objecting solely to any provisions in any DIP Financing relating to, describing or requiring any
provision or content of a plan of reorganization other than any provisions requiring that the DIP Financing be paid in full in cash. Nothing set forth in this Agreement shall restrict the Second Lien Agent from proposing DIP Financing, or the First
Lien Holder from objecting thereto on any grounds. The sole effect of this Section 6.1 is to specify when the Second Lien Agent and the Second Lien Noteholders will consent to DIP Financing. Nothing herein shall affect the relative priority of
the First Lien Obligations whether or not the First Lien Holders consent to or permit such DIP Financing. 
 6.2 Sale of
Collateral. The Second Lien Agent, on behalf of the Second Lien Noteholders, agrees that it will raise no objection to or otherwise contest or oppose a sale or other disposition of any Collateral (and any post-petition assets subject to adequate
protection Liens in favor of the First Lien Holder) free and clear of its Liens or other claims under Section 363 of the Bankruptcy Code if the First Lien Holder has consented to such sale or disposition of such assets, so long as the interests
of the Second Lien Noteholders in the Collateral (and any post-petition assets subject to adequate protection liens, if any, in favor of the Second Lien Agent) attach to the proceeds thereof, subject to the terms of this Agreement, and the motion to
sell or dispose of such assets does not impair the rights of the Second Lien Noteholders under Section 363(k) of the Bankruptcy Code; provided, that the First Lien Cap shall be reduced by an amount equal to the net cash Proceeds of such sale or
other disposition which are used to permanently pay or prepay the principal amount of any DIP Financing provided by the First Lien Holder or its Affiliates or the First Lien Principal Obligations. 
 6.3 Relief from the Automatic Stay. Until the Discharge of First Lien Obligations has occurred, the Second Lien Agent, on behalf of itself
and the Second Lien Noteholders, agrees that none of them shall seek (or support any other Person seeking) relief from the automatic stay or any other stay in any Insolvency Proceeding in respect of the Collateral, without the prior written consent
of the First Lien Holder. 
 6.4 Adequate Protection. 
 (a) The Second Lien Agent, on behalf of itself and the Second Lien Noteholders, agrees that it shall not contest (or support any other Person contesting):

 (1) any request by the First Lien Holder for adequate protection; or 
 (2) any objection by the First Lien Holder to any motion, relief, action or proceeding based on the First Lien Holder claiming a lack of
adequate protection. 
  

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 (b) Notwithstanding the foregoing provisions in this Section 6.4, in any Insolvency Proceeding, if
the First Lien Holder is granted adequate protection in the form of additional collateral in connection with any Cash Collateral use or DIP Financing, then the Second Lien Agent, on behalf of itself or any of the Second Lien Noteholders, may seek or
request adequate protection in the form of a Lien on such additional collateral, so long as such Lien will be subordinated to the Liens securing the First Lien Obligations and such Cash Collateral use or DIP Financing (and all Obligations relating
thereto) on the same basis as the other Liens securing the Second Lien Obligations are so subordinated to the First Lien Obligations under this Agreement; and so long as the Second Lien Agent and the Second Lien Noteholders each waive all rights,
privileges, powers and remedies, if any, to seek and receive payment in cash of any claims arising by virtue of such Liens, unless the Discharge of First Lien Obligations has occurred. 
 (c) The Second Lien Agent, for itself and on behalf of the Second Lien Noteholders, agrees that notice of a hearing to approve DIP Financing or use of
Cash Collateral on an interim basis shall be adequate if delivered to the Second Lien Agent by facsimile transmission, email or other means as soon as reasonably practicable after the date such hearing is established by the court and that notice of
a hearing to approve DIP Financing or use of Cash Collateral on a final basis shall be adequate if delivered to the Second Lien Agent at least five (5) days in advance of such hearing. 
 6.5 No Waiver. Nothing contained herein shall prohibit or in any way limit the First Lien Holder from objecting in any Insolvency
Proceeding or otherwise to any action taken by the Second Lien Agent, including the seeking by the Second Lien Agent of adequate protection or the asserting by the Second Lien Agent of any of its rights and remedies under the Second Lien Documents
or otherwise. 
 6.6 Avoidance Issues. If the First Lien Holder is required in any Insolvency Proceeding or otherwise to turn
over or otherwise pay to the estate of the Borrower or any other Grantor any amount paid in respect of First Lien Obligations (a “Recovery”), then the First Lien Holder shall be entitled to a reinstatement of First Lien
Obligations with respect to all such recovered amounts, and from and after the date of such reinstatement the Discharge of First Lien Obligations shall be deemed not to have occurred for all purposes hereunder. If this Agreement shall have been
terminated prior to such Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of
reinstatement. Collateral or proceeds thereof received by the Second Lien Agent or any Second Lien Noteholder after a Discharge of First Lien Obligations and prior to the reinstatement of such First Lien Obligations shall be delivered to the First
Lien Holder upon such reinstatement in accordance with Section 4.2. 
 6.7 Post-Petition Interest. The Second Lien Agent
shall not oppose or seek to challenge any claim by the First Lien Holder for allowance in any Insolvency Proceeding of First Lien Obligations consisting of Post-Petition Interest to the extent of the value of the First Lien Holder’s Lien,
without regard to the existence of the Lien of the Second Lien Agent on behalf of the Second Lien Noteholders on the Collateral. 
  

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 6.8 Waiver. The Second Lien Agent, for itself and on behalf of the Second Lien Noteholders,
waives any claim it may hereafter have against the First Lien Holder arising out of the election of the First Lien Holder of the application of Section 1111(b)(2) of the Bankruptcy Code, and/or out of any cash collateral or financing
arrangement or out of any grant of a security interest in connection with the Collateral in any Insolvency Proceeding. 
 6.9
Separate Grants of Security and Separate Classification. The Second Lien Agent, for itself and on behalf of the Second Lien Noteholders, and the First Lien Holder acknowledge and agree that (i) the grants of Liens pursuant to the
First Lien Collateral Documents and the Second Lien Collateral Documents constitute two separate and distinct grants of Liens and (ii) because of, among other things, their differing rights in the Collateral, the Second Lien Obligations are
fundamentally different from the First Lien Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency Proceeding. To effectuate the intent of the parties as provided in the immediately preceding
sentence, if it is held that the claims of the First Lien Holder and the Second Lien Noteholders in respect of the Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then each of the
parties hereto hereby acknowledges and agrees that, subject to Sections 2.1 and 4.1, all distributions shall be made as if there were separate classes of senior and junior secured claims against the Grantors in respect of the Collateral (with the
effect being that, to the extent that the aggregate value of the Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien Noteholders), the First Lien Holder shall be entitled to receive, in addition to amounts
distributed to it in respect of principal, pre-petition interest and other claims, all amounts owing (or that would be owing if there were such separate classes of senior and junior secured claims) in respect of Post-Petition Interest, including any
additional interest payable pursuant to the First Lien Note, arising from or related to a default, which is disallowed as a claim in any Insolvency Proceeding) before any distribution is made in respect of the claims held by the Second Lien
Noteholders with respect to the Collateral, with the Second Lien Agent, for itself and on behalf of the Second Lien Noteholders, hereby acknowledging and agreeing to turn over to the First Lien Holder Collateral or Proceeds of Collateral otherwise
received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect of reducing the claim or recovery of the Second Lien Noteholders. 
 6.10 Effectiveness in Insolvency Proceedings. This Agreement, which the parties hereto expressly acknowledge is a “subordination
agreement” under Section 510(a) of the Bankruptcy Code, shall be effective before, during and after the commencement of an Insolvency Proceeding. All references in this Agreement to any Grantor shall include such Person as a
debtor-in-possession and any receiver or trustee for such Person in any Insolvency Proceeding. 
  

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 SECTION 7. Reliance; Waivers; Etc. 
 7.1 Reliance. Other than any reliance on the terms of this Agreement, the First Lien Holder under its First Lien Documents acknowledges that
it has independently and without reliance on the Second Lien Agent, and based on documents and information deemed by it appropriate, made its own credit analysis and decision to enter into such First Lien Documents and be bound by the terms of this
Agreement and it will continue to make its own credit decision in taking or not taking any action under the First Lien Documents or this Agreement. The Second Lien Agent, on behalf of itself and the Second Lien Noteholders, acknowledges that it and
the Second Lien Noteholders have, independently and without reliance on the First Lien Holder and based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Second Lien
Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the Second Lien Documents or this Agreement. 
 7.2 No Warranties or Liability. The First Lien Holder acknowledges and agrees that each of the Second Lien Agent and the Second Lien
Noteholders have made no express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the Second Lien Documents, the ownership of any Collateral
or the perfection or priority of any Liens thereon. Except as otherwise provided herein, the Second Lien Agent, on behalf of the Second Lien Noteholders, will be entitled to manage and supervise the rights and obligations of the Second Lien
Noteholders under the Second Lien Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. Except as otherwise provided herein, the Second Lien Agent, on behalf of itself and the Second Lien
Noteholders, acknowledges and agrees that the First Lien Holder has made no express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectibility or enforceability of any of the
First Lien Documents, the ownership of any Collateral or the perfection or priority of any Liens thereon. Except as otherwise provided herein, the First Lien Holder will be entitled to manage and supervise its rights and obligations under the First
Lien Documents in accordance with law and as it may otherwise, in its sole discretion, deem appropriate. The Second Lien Agent shall have no duty to the First Lien Holder, and the First Lien Holder shall have no duty to the Second Lien Agent or any
of the Second Lien Noteholders, to act or refrain from acting in a manner which allows, or results in, the occurrence or continuance of an Event of Default or default under any agreements with the Borrower or any other Grantor (including the First
Lien Documents and the Second Lien Documents), regardless of any knowledge thereof which they may have or be charged with. 
 7.3
No Waiver of Lien Priorities. 
 (a) No right of the First Lien Holder, the Control Agent or any of them to enforce any provision
of this Agreement or any First Lien Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Borrower or any other Grantor or by any act or failure to act by the First Lien Holder, or

  

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 the Control Agent, or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement, any
of the First Lien Documents or any of the Second Lien Documents, regardless of any knowledge thereof which the First Lien Holder, or the Control Agent, or any of them, may have or be otherwise charged with. 
 (b) Without in any way limiting the generality of the foregoing paragraph (but subject to the rights of the Borrower and the other Grantors under the
First Lien Documents and subject to the provisions of Sections 5.3(a) and (d)), the First Lien Holder may, at any time and from time to time in accordance with the First Lien Documents and/or applicable law, without the consent of, or notice to, the
Second Lien Agent or any Second Lien Noteholders, without incurring any liabilities to the Second Lien Agent or any Second Lien Noteholders and without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if
any right of subrogation or other right or remedy of the Second Lien Agent or any Second Lien Noteholders is affected, impaired or extinguished thereby) do any one or more of the following: 
 (1) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange, increase or alter,
the terms of any of the First Lien Obligations or any Lien on any First Lien Collateral or guaranty thereof or any liability of the Borrower or any other Grantor, or any liability incurred directly or indirectly in respect thereof (including any
increase in or extension of the First Lien Obligations, without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held by the First
Lien Holder, the First Lien Obligations or any of the First Lien Documents; provided that any such increase in the First Lien Obligations shall not increase the First Lien Principal Obligations to an amount in excess of the First Lien Cap;

 (2) sell, exchange, release, surrender, realize upon, enforce or otherwise deal with in any manner and in any order any
part of the First Lien Collateral or any liability of the Borrower or any other Grantor to the First Lien Holder, or any liability incurred directly or indirectly in respect thereof; 
 (3) settle or compromise any First Lien Obligation or any other liability of the Borrower or any other Grantor or any security therefor or
any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the First Lien Obligations) in any manner or order; and 
 (4) exercise or delay in or refrain from exercising any right or remedy against the Borrower or any security or any other Grantor or any
other Person, elect any remedy and otherwise deal freely with the Borrower, any other Grantor or any First Lien Collateral and any security and any guarantor or any liability of the Borrower or any other Grantor to the First Lien Holder or any
liability incurred directly or indirectly in respect thereof. 
  

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 (5) take or fail to take any Lien securing the First Lien Obligations or any other
collateral security for any First Lien Obligations or take or fail to take any action which may be necessary or appropriate to ensure that any Lien securing First Lien Obligations or any other Lien upon any property is duly enforceable or perfected
or entitled to priority as against any other Lien or to ensure that any Proceeds of any property subject to any Lien are applied to the payment of any First Lien Obligation or any Obligation secured thereby; or 
 (6) otherwise release, discharge or permit the lapse of any or all Liens securing the First Lien Obligations or any other Liens upon any
property at any time securing any First Lien Obligations. 
 (c) Except as otherwise expressly provided herein, the Second Lien Agent, on
behalf of itself and the Second Lien Noteholders, also agrees that the Control Agent and the First Lien Holder shall have no liability to the Second Lien Agent or any Second Lien Noteholders, and the Second Lien Agent, on behalf of itself and the
Second Lien Noteholders, hereby waives all claims against the First Lien Holder, arising out of any and all actions which the First Lien Holder may take or permit or omit to take with respect to: 
 (1) the First Lien Documents; 
 (2) the collection of the First Lien Obligations; or 
 (3) the foreclosure upon, or sale,
liquidation or other disposition of, any First Lien Collateral. 
 The Second Lien Agent, on behalf of itself and the Second Lien
Noteholders, agrees that the Control Agent and the First Lien Holder have no duty to them in respect of the maintenance or preservation of the First Lien Collateral, the First Lien Obligations or otherwise. 
 (d) Until the Discharge of First Lien Obligations, the Second Lien Agent, on behalf of itself and the Second Lien Noteholders, agrees not to assert and
hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under
applicable law with respect to the Collateral or any other similar rights a junior secured creditor may have under applicable law. 
 7.4
Obligations Unconditional. All rights, interests, agreements and obligations of the Control Agent and the First Lien Holder and the Second Lien Agent and the Second Lien Noteholders, respectively, hereunder shall remain in full force and
effect irrespective of: 
 (a) any lack of validity or enforceability of any First Lien Documents or any Second Lien Documents, any lack of
perfection in any Liens or any setting aside or avoidance of any Lien; 
  

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 (b) except as otherwise expressly set forth in this Agreement, any change in the time, manner or place of
payment of, or in any other terms of, all or any of the First Lien Obligations or Second Lien Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof, whether by course of conduct or otherwise, of
the terms of any First Lien Document or any Second Lien Loan Document; 
 (c) except as otherwise expressly set forth in this Agreement, any
exchange of any security interest in any Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or otherwise, of all or any of the First Lien Obligations or Second Lien
Obligations or any guaranty thereof; 
 (d) the commencement of any Insolvency Proceeding in respect of the Borrower or any other Grantor; or

 (e) any other circumstances which otherwise might constitute a defense available to, or a discharge of, the Borrower or any other Grantor
in respect of the First Lien Holder, the First Lien Obligations, the Second Lien Agent, the Second Lien Obligations or any Second Lien Noteholder in respect of this Agreement. 
 7.5 Recognition of First Lien Obligations. The Second Lien Agent, for itself and on behalf of the Second Lien Noteholders, hereby
recognizes that the First Lien Obligations create valid and binding obligations upon the Borrower, Guardian, and any other Grantor, and expressly agrees not to challenge the validity or amount of any such obligations. 
 SECTION 8. Miscellaneous. 
 8.1 Conflicts. In the event of any conflict between the provisions of this Agreement and the provisions of the First Lien Documents or the Second Lien Documents, the provisions of this Agreement shall govern and control;
provided, that, as between the Second Lien Agent and the Second Lien Noteholders, in the event of a conflict between the terms of the Second Lien Note Indenture and this Agreement with respect to the duties and obligations of the Second Lien
Agent, the terms of the Second Lien Note Indenture shall govern and control. 
 8.2 Effectiveness; Continuing Nature of this
Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement of lien subordination in respect of the Collateral and the First Lien Holder may continue, at any
time and without notice to the Second Lien Agent or any Second Lien Noteholder, to extend credit and other financial accommodations and lend monies to or for the benefit of the Borrower or any Grantor constituting First Lien Principal Obligations up
to but not exceeding the First Lien Cap in reliance hereof. The Second Lien Agent, on behalf of itself and the Second Lien Noteholders, hereby waives any right it may have under applicable law to revoke this Agreement or any of the provisions of
this Agreement. The terms of this Agreement 
  

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 shall survive, and shall continue in full force and effect, in any Insolvency Proceeding. Any provision of this Agreement
that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other
jurisdiction. All references to the Borrower or any other Grantor shall include the Borrower or such Grantor as debtor and debtor-in-possession and any receiver or trustee for the Borrower or any other Grantor (as the case may be) in any Insolvency
Proceeding. This Agreement shall terminate and be of no further force and effect: 
 (a) with respect to the First Lien Holder and the First
Lien Obligations, upon the date of Discharge of First Lien Obligations, subject to the rights of the First Lien Holder under Section 6.6; and 
 (b) with respect to the Second Lien Agent, the Second Lien Noteholders and the Second Lien Obligations, upon the later of (1) the date upon which the obligations under the Second Lien Note Indenture terminate if there are no other
Second Lien Obligations outstanding on such date and (2) if there are other Second Lien Obligations outstanding on such date, the date upon which such Second Lien Obligations terminate. 
 8.3 Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement by the Second Lien Agent or the
First Lien Holder shall be deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the specific instance involved and shall
in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time. Notwithstanding the foregoing, the Borrower shall not have any right to consent to or
approve any amendment, modification or waiver of any provision of this Agreement except to the extent its rights are directly affected. 
 8.4 Information Concerning Financial Condition of the Borrower and its Subsidiaries. The Control Agent and the First Lien Holder on the one hand, and the Second Lien Noteholders and the Second Lien Agent, on the other hand,
shall each be responsible for keeping themselves informed of (a) the financial condition of the Borrower and its Subsidiaries and all endorsers and/or guarantors of the First Lien Obligations or the Second Lien Obligations and (b) all
other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. The First Lien Holder and the Control Agent shall have no duty to advise the Second Lien Agent or any Second Lien Noteholder of
information known to it or them regarding such condition or any such circumstances or otherwise. In the event the First Lien Holder or the Control Agent in its or their sole discretion, undertakes at any time or from time to time to provide any such
information to the Second Lien Agent or any Second Lien Noteholder, it or they shall be under no obligation: 
 (a) to make, and the First
Lien Holder and the Control Agent shall not make, any express or implied representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided; 
  

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 (b) to provide any additional information or to provide any such information on any subsequent occasion;

 (c) to undertake any investigation; or 
 (d) to disclose any information, which pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 
 8.5 Subrogation. With respect to the value of any payments or distributions in cash, property or other assets, otherwise payable to the
Second Lien Agent or the Second Lien Noteholders, that the Second Lien Agent pays over to the First Lien Holder under the terms of this Agreement, the Second Lien Noteholders and the Second Lien Agent shall be subrogated to the rights of the First
Lien Holder; provided that, the Second Lien Agent, on behalf of itself and the Second Lien Noteholders, hereby waives all such rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First Lien
Obligations has occurred. The Borrower acknowledges and agrees that the value of any payments or distributions in cash, property or other assets received by the Second Lien Agent or the Second Lien Noteholders that are paid over to the First Lien
Holder pursuant to this Agreement shall not reduce any of the Second Lien Obligations. 
 8.6 Application of Payments. All
payments received by the First Lien Holder shall be applied to the First Lien Obligations as provided for in the First Lien Documents. The Second Lien Agent, on behalf of itself and the Second Lien Noteholders, assents to any extension or
postponement of the time of payment, subject to Section 5.3(a)(3), of the First Lien Obligations or any part thereof and to any other indulgence with respect thereto, to any substitution, exchange or release of any security which may at any
time secure any part of the First Lien Obligations and to the addition or release of any other Person primarily or secondarily liable therefor. 
 8.7 SUBMISSION TO JURISDICTION; WAIVERS. (a) ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY PARTY ARISING OUT OF OR RELATING HERETO MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE, COUNTY
AND CITY OF NEW YORK. BY EXECUTING AND DELIVERING THIS AGREEMENT, EACH PARTY, FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, IRREVOCABLY: 
 (1) ACCEPTS GENERALLY AND UNCONDITIONALLY THE NONEXCLUSIVE JURISDICTION AND VENUE OF SUCH COURTS; 
  

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 (2) WAIVES ANY DEFENSE OF FORUM NON CONVENIENS; 
 (3) AGREES THAT SERVICE OF ALL PROCESS IN ANY SUCH PROCEEDING IN ANY SUCH COURT MAY BE MADE BY REGISTERED OR CERTIFIED MAIL, RETURN
RECEIPT REQUESTED, TO THE APPLICABLE PARTY AT ITS ADDRESS PROVIDED IN ACCORDANCE WITH SECTION 8.8; AND 
 (4) AGREES THAT
SERVICE AS PROVIDED IN CLAUSE (3) ABOVE IS SUFFICIENT TO CONFER PERSONAL JURISDICTION OVER THE APPLICABLE PARTY IN ANY SUCH PROCEEDING IN ANY SUCH COURT, AND OTHERWISE CONSTITUTES EFFECTIVE AND BINDING SERVICE IN EVERY RESPECT. 
 (b) EACH OF THE PARTIES HERETO HEREBY AGREES TO WAIVE ITS RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING
HEREUNDER. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER HEREOF, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER
COMMON LAW AND STATUTORY CLAIMS. EACH PARTY HERETO ACKNOWLEDGES THAT THIS WAIVER IS A MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP THAT EACH HAS ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THIS AGREEMENT, AND THAT EACH WILL CONTINUE
TO RELY ON THIS WAIVER IN ITS RELATED FUTURE DEALINGS. EACH PARTY HERETO FURTHER WARRANTS AND REPRESENTS THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS. THIS WAIVER IS IRREVOCABLE; MEANING THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR
IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 8.7(b) AND EXECUTED BY EACH OF THE PARTIES HERETO), AND THIS WAIVER SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS HERETO. IN
THE EVENT OF LITIGATION, THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 
 (c) EACH OF THE PARTIES HERETO
WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER FIRST LIEN DOCUMENT OR SECOND LIEN LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, VERBAL OR WRITTEN STATEMENT OR ACTION OF ANY PARTY HERETO. 
  

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 8.8 Notices. Unless otherwise specifically provided herein, any notice hereunder shall be
in writing and may be personally served, telexed or sent by telefacsimile or United States mail or courier service and shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof, upon
receipt of telefacsimile or telex, or three Business Days after depositing it in the United States mail with postage prepaid and properly addressed. For the purposes hereof, the addresses of the parties hereto shall be as set forth below each
party’s name on the signature pages hereto, or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties. 
 8.9 Further Assurances. The First Lien Holder and the Second Lien Agent, on behalf of itself and the Second Lien Noteholders and the
Borrower, agree that each of them shall take such further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the First Lien Holder or the Second Lien Agent may reasonably request to
effectuate the terms of and the Lien priorities contemplated by this Agreement. 
 8.10 APPLICABLE LAW. THIS AGREEMENT, AND ANY
CLAIM OR CONTROVERSY RELATING TO THE SUBJECT MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW OR TORT LAW, SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW). 
 8.11
Binding on Successors and Assigns. This Agreement shall be binding upon the First Lien Holder, the Control Agent, the Second Lien Agent on behalf of itself and the Second Lien Noteholders and their respective successors and assigns. If
either of the First Lien Holder or the Second Lien Agent resigns or is replaced pursuant to the First Lien Documents or the Second Lien Note Indenture, as applicable, its successor shall be deemed to be a party to this Agreement and shall have all
the rights of, and be subject to all the obligations of, this Agreement. 
 8.12 Specific Performance. Each of the First Lien
Holder and the Second Lien Agent may demand specific performance of this Agreement. The First Lien Holder and the Second Lien Agent, on behalf of itself and the Second Lien Noteholders, hereby irrevocably waive any defense based on the adequacy of a
remedy at law and any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by the First Lien Holder or the Second Lien Agent as the case may be. 
 8.13 Headings. Section headings in this Agreement are included herein for convenience of reference only and shall not constitute a part of
this Agreement for any other purpose or be given any substantive effect. 
  

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 8.14 Counterparts. This Agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or
instrument delivered in connection herewith by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 
 8.15 Authorization. By its signature, each Person executing this Agreement on behalf of a party hereto represents and warrants to the other
parties hereto that it is duly authorized to execute this Agreement. 
 8.16 No Third Party Beneficiaries. This Agreement and
the rights and benefits hereof shall inure to the benefit of each of the parties hereto and its respective successors and assigns and shall inure to the benefit of each of the First Lien Holder, the Second Lien Agent and the Second Lien Noteholders.
Nothing in this Agreement shall impair, as between the Borrower and the other Grantors and the First Lien Holder, or as between the Borrower and the other Grantors and the Second Lien Agent and the Second Lien Noteholders, the obligations of the
Borrower and the other Grantors to pay principal, interest, fees and other amounts as provided in the First Lien Documents and the Second Lien Documents, respectively. 
 8.17 Provisions Solely to Define Relative Rights. The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the First Lien Holder on the one hand and
the Second Lien Agent on behalf of itself and the Second Lien Noteholders on the other hand. None of the Borrower, any other Grantor or any other creditor thereof shall have any rights hereunder and neither the Borrower nor any Grantor may rely on
the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Borrower or any other Grantor, which are absolute and unconditional, to pay the First Lien Obligations and the Second Lien Obligations as and when the
same shall become due and payable in accordance with their terms. 
  

 34 

 IN WITNESS WHEREOF, the parties hereto have executed this Intercreditor Agreement as of the date first
written above. 
  

			
	First Lien Holder:
	
	 PAUL ROYALTY FUND HOLDINGS II 
 as First Lien Holder,

		
	 By:
	 	  

		 	Name:
		 	Title:
	
	 140 East 45th Street, 44th Floor
 New York, NY 10017

	
	Control Agent:
	
	 PAUL ROYALTY FUND HOLDINGS II,
 as
Control Agent

		
	By:	 	  

		 	Name:
		 	Title:
	
	 140 East 45th Street, 44th Floor
 New York, NY 10017

	
	Second Lien Agent:
	
	 U.S. BANK NATIONAL ASSOCIATION,
 as
Second Lien Agent

		
	By:	 	  

		 	 Name:
 Title:

	
	 100 Wall Street, Suite 1600
 New
York, NY 10005

  

 S-1 

 Acknowledged and Agreed to by: 
  

			
	OSCIENT PHARMACEUTICALS CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	1000 Winter Street, Suite 2200
	Waltham, MA 02451
	
	GUARDIAN II ACQUISITION CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	1000 Winter Street, Suite 2200
	Waltham, MA 02451

  

 S-2First Amendment to the Revenue Interests Assignment Agreement

 Exhibit 10.45 
 EXECUTION COPY 
 FIRST AMENDMENT TO THE REVENUE INTERESTS ASSIGNMENT 
 AGREEMENT 
 This first amendment dated as of
November 5, 2008 (the “First Amendment”) to the Revenue Interests Assignment Agreement, dated July 21, 2006 and restated August 18, 2006, is between and among, Oscient Pharmaceuticals Corporation, a Massachusetts corporation (the
“Company”), Guardian II Acquisition Corporation, a wholly-owned Delaware subsidiary of the Company, and Paul Royalty Fund Holdings II, a California general partnership (“PRF”), (the “Agreement”).

 WHEREAS, the Company, Guardian and PRF entered into the Agreement, pursuant to which each of the Assignors agreed to sell, assign, convey and
transfer to PRF, and PRF agreed to purchase from the Assignors, the Assigned Interests, upon and subject to the terms and conditions set forth in the Agreement; and 
 WHEREAS, the Parties will enter into an Intercreditor Agreement to provide for a silent second lien on certain Assigned Interests and other Collateral (the “Second Lien”). 
 NOW, THEREFORE, in consideration of the mutual covenants, agreements representations and warranties contained herein, the parties hereby agree to amend the
Agreement as follows: 
 1. Definitions 
 For purposes of
this First Amendment, all capitalized terms, which are used but not defined herein, shall have the meanings ascribed to them in the Agreement. 
 A. The
following new definition of “Annual Net Revenues Threshold” shall be added to Section 1.1 of the Agreement: 
 “Annual Net Revenues Threshold” shall, with respect to Net Revenues in the applicable Fiscal Year, mean the following: 
  

	 	(a)	One Hundred and Fifteen Million Dollars ($115,000,000) in the Fiscal Year ended December 31, 2009; 

  

	 	(b)	One Hundred and Thirty Five Million Dollars ($135,000,000) in the Fiscal Year ended December 31, 2010; 

  

	 	(c)	One Hundred and Fifty Million Dollars ($150,000,000) in the Fiscal Year ended December 31, 2011; and 

  

	 	(d)	One Hundred and Seventy Five Million Dollars ($175,000,000) in the Fiscal Year ended December 31, 2012 and each Fiscal Year thereafter for the remainder of the Term.

 B. The definition of “Applicable Percentage” set forth in Section 1.1 of the Agreement shall
be deleted in its entirety and replaced with the following: 
 “Applicable Percentage” shall mean, as of any date of
determination, on a Fiscal Year-by-Fiscal Year basis (or applicable portion thereof in the first and last Fiscal Years under this Agreement), during the Revenue Interest Period, 
  

	 	(a)	prior to the date that the cumulative Payments received and retained (i.e., not refunded by PRF) by PRF first exceed two hundred fifty percent (250%) of the cumulative payments
made by PRF under Section 2.03, the following: 

  

	 	(i)	with respect to Net Revenues of up to and including seventy-five million dollars ($75,000,000), nine percent (9%); 

  

	 	(ii)	with respect to Net Revenues in excess of seventy-five million dollars ($75,000,000) but less than and including one hundred fifty million dollars ($150,000,000), six percent (6%);
and 

  

	 	(iii)	with respect to Net Revenues in excess of one hundred fifty million dollars ($150,000,000), two percent (2%); and 

  

	 	(b)	from and after the date that the cumulative Payments received and retained (i.e., not refunded by PRF) by PRF are at least two hundred fifty percent (250%) of the cumulative
payments made by PRF under Section 2.03, two percent (2%). 

 For the avoidance of doubt, the percentages set forth
in this definition of “Applicable Percentage” are subject to (i) reduction by fifty percent (50%) pursuant to Section 5.07(c), and (ii) increase pursuant to Section 2.02(a)(i). 
 C. The following new definition of “Commercial Sale” shall be added to Section 1.1 of the Agreement: 
 “Commercial Sale” shall mean when a product is sold in commerce and shipped to a customer and such customer has been invoiced for the
price of such product. 
 D. The following new definition of “Ex-U.S. Sales Margin” shall be added to Section 1.1 of the Agreement:

 “Ex-U.S. Sales Margin” shall mean the net revenues of the Company (calculated in a manner consistent with Net Revenues set
forth herein plus milestones except as otherwise set forth in this definition below) derived from the licensing or other form of distribution by the Company of Factive outside of the Territory with respect to shipments of products (finished products
or active pharmaceutical ingredient) and related royalties and less Factive COGS associated with such extra-Territorial sales, excluding milestones existing as of September 30, 2008, but for the avoidance of doubt, including any payments with
respect to new sales milestones or increased sales milestones that result from renegotiations of existing agreements or any milestones from agreements entered into after September 30, 2008. 
 E. The following new definition of “Factive COGS” shall be added to Section 1.1 of the Agreement: 
 “Factive COGS” shall mean the cost of goods for Factive consistent with the Assignor’s financial statements and in accordance with
GAAP. 
  

 - 2 - 

 F. The following new definition of “Incremental Royalty Payment” shall be added to Section 1.1 of
the Agreement: 
 “Incremental Royalty Payment” shall have the meaning set forth in Section 2.02(a)(i).

 G. The following new definition of “Incremental Royalty Percentage” shall be added to Section 1.1 of the Agreement: 
 “Incremental Royalty Percentage” shall have the meaning set forth in Section 2.02(a)(i). 
 H. The definition of “Net Revenues” set forth in Section 1.1 of the Agreement shall be deleted in its entirety and replaced with the following:

 “Net Revenues” with respect to the Products shall mean, for any period of determination, 
  

	 	(a)	the Ex-U.S. Sales Margin, plus 

  

	 	(b)	Gross Product Revenues for such period, less the sum, with respect to the items described in clause (i) of the definition of Gross Product Revenues, of

  

	 	(i)	cash, trade discounts and wholesaler fee-for service amounts, 

  

	 	(ii)	Medicaid and Medicare and managed market rebates and chargebacks, 

  

	 	(iii)	accruals related to ordinary course of business consumer cash vouchers, sample coupon cards and similar types of revenue reserves, 

  

	 	(iv)	allowances and adjustments actually credited to customers for Products that are spoiled, damaged, outdated, obsolete, returned or otherwise recalled, but only if and to the extent
the same are in accordance with sound business practices and not in excess of customary industry standards, 

  

	 	(v)	charges for freight, postage, shipping, delivery, service and insurance charges, to the extent invoiced, 

  

	 	(vi)	taxes, duties or other governmental charges to the extent invoiced, and 

  

	 	(vii)	write-offs or allowances for bad debts. 

 Net Revenues
shall be determined in accordance with GAAP as applied by the Company on the date of this First Amendment. 
  

 - 3 - 

 I. The definition of “Put Option Event” set forth in Section 1.1 of the Agreement shall be amended by
deleting the word “or” at the end of (v), by replacing the period at the end of (vi) with “; or”, and by adding a new subsection (vii) that reads as follows: 
 “(vii) the maturity date of the Company’s Convertible Senior Notes issued in the Company’s exchange offer of its 3.50% Convertible Senior
Notes Due 2011 commenced on October 21, 2008 (the “Exchange Offer”) shall be accelerated or such Senior Convertible Notes shall have matured and be unpaid and the Company and Guardian II Acquisition Corporation shall not have
an agreement with the U.S. Bank National Association, as indenture trustee (the “Trustee”) requiring the Trustee to forbear from exercising remedies in respect of such nonpayment.” 
 J. The definition of “Payments” set forth in Section 1.1 of the Agreement shall be deleted in its entirety and replaced with the following:

 “Payments” shall mean cumulative payments made by the Assignors to and received and retained by PRF pursuant to Sections
2.02(a) (but excluding fifty percent (50%) of amounts payable with respect to subsection (a) of the definition of Net Revenues), 5.07(c) and 5.08 of the Agreement, plus fifty percent (50%) of any payments actually made pursuant
to Section 2.02(c) of the Agreement, plus fifty percent (50%) of any payments actually made pursuant to Section 4 of this First Amendment, plus fifty percent (50%) of any payments actually made pursuant to
Section 2.02(e) of the Agreement as applicable, plus any Divestiture Payments made pursuant to Section 2.02(e). Payments made pursuant to Sections 2.02 and 5.08 of the Agreement shall be deemed to have been received by PRF on the 45th day
of the Fiscal Quarter in which such payments were made. Payments made pursuant to Section 5.07(c) of the Agreement and Section 4 of the First Amendment shall be deemed to have been received by PRF on the date such payments were made.

 K. The following new definition of “Shortfall Year” shall be added to Section 1.1 of the Agreement: 
 “Shortfall Year” shall have the meaning set forth in Section 2.02(a)(i). 
 L. The following new definition of “Subsequent Products” shall be added to Section 1.1 of the Agreement: 
 “Subsequent Products” shall mean any drug product either (a) in-licensed or acquired by an Assignor or a Subsidiary of the Company
after September 30, 2008 and prior to a Change of Control, or (b) in which rights are otherwise obtained, after September 30, 2008 and prior to a Change of Control, by an Assignor or a Subsidiary of the Company (for example, by
obtaining distribution or co-promotion rights) and which, in the case of (b) only, generates a gross margin (net revenues less cost of goods according to GAAP) of at least fifty percent (50%) in accordance with GAAP. For the avoidance of
doubt, a Co-Promote Product shall not be deemed to be a Subsequent Product. Subsequent Products shall also not include Products. 
  

 - 4 - 

 M. The following new definition of “Subsequent Product Net Revenues” shall be added to Section 1.1
of the Agreement: 
 “Subsequent Product Net Revenues” with respect to the Subsequent Products shall mean, for any period of
determination, 
  

	 	(a)	A calculation of Gross Product Revenues using Subsequent Products in place of Products for such period, less 

  

	 	(b)	the sum, with respect to the items described in clause (i) of the definition of Gross Product Revenues, of 

  

	 	(i)	cash, trade discounts and wholesaler fee-for service amounts, 

  

	 	(ii)	Medicaid and Medicare and managed market rebates and chargebacks, 

  

	 	(iii)	accruals related to ordinary course of business consumer cash vouchers, sample coupon cards and similar types of revenue reserves, 

  

	 	(iv)	allowances and adjustments actually credited to customers for Products that are spoiled, damaged, outdated, obsolete, returned or otherwise recalled, but only if and to the extent
the same are in accordance with sound business practices and not in excess of customary industry standards, 

  

	 	(v)	charges for freight, postage, shipping, delivery, service and insurance charges, to the extent invoiced, 

  

	 	(vi)	taxes, duties or other governmental charges to the extent invoiced, and 

  

	 	(vii)	write-offs or allowances for bad debts; 

  

	 	(c)	provided however, if the Assignor or a Subsidiary of the Company licenses or sublicenses rights to a Subsequent Product to a third party, the Subsequent Product Net Revenues
relating to such Subsequent Product shall include the amount of any royalties, milestones or other payments, excluding payments for reimbursement of costs, received by the Assignor or a Subsidiary of the Company from such third party; provided
further, if the Company or its Subsidiary also provides the active pharmaceutical ingredient, bulk or finished product to the third party, the cost of goods will be deducted from any payment for such sale under this section in accordance with GAAP.

 Subsequent Product Net Revenues shall be determined in accordance with GAAP as applied by the Company on the date of this
First Amendment. 
 N. The following new definition of “Subsequent Product Financing Source” shall be added to Section 1.1 of the
Agreement: 
 “Subsequent Product Financing Source” shall have the meaning set forth in Section 2.02(d)(i). 

 

 - 5 - 

 O. The following new definition of “Co-Promote Product” shall be added to Section 1.1 of the
Agreement: 
 “Co-Promote Product” shall mean a product (i) the product intellectual property (as opposed to trademark) for
which is not owned by or licensed to an Assignor, (ii) which an Assignor or a Subsidiary promotes to health care providers, and with respect to which the revenue recorded by Assignors in connection with sales of such product in the Territory is
not greater than fifty percent (50%) of the sum of the total revenues recorded by the Assignors and third parties in connection with sales of such product in the Territory. 
 2. Payments by the Assignors 
 A. Section 2.02(a) of the Agreement shall be deleted in its entirety and
replaced with the following: 
  

	 	(a)	Payments in Respect of the Assigned Interests. 

  

	 	(i)	 PRF shall be entitled to receive the Applicable Percentage in respect of Net Revenues made during the Revenue Interest Period; provided, however, that in the
event the Net Revenues in any Fiscal Year do not exceed eighty-five percent (85%) of the Annual Net Revenues Threshold for the applicable Fiscal Year (a “Shortfall Year”), then the Applicable Percentage with respect to Net Revenues
shall, subject to the provisos set forth in this Section 2.02, be increased only for such Shortfall Year such that the Applicable Percentage with respect to Net Revenues for such Shortfall Year: (x) up to and including seventy-five million
dollars ($75,000,000), shall be increased from nine percent (9%) to twelve percent (12%), plus (y) in excess of seventy-five million dollars ($75,000,000) but less than and including one hundred fifty million dollars ($150,000,000), shall
be increased from six percent (6%) to eight percent (8%), (each such percentage difference in the Applicable Percentage, 3% and 2%, respectively, hereinafter referred to as the “Incremental Royalty Percentage”), and within
seventy-five (75) calendar days after December 31 of each Shortfall Year, the Assignor shall pay PRF an amount equal to the Incremental Royalty Percentages in respect of Net Revenues, for such Shortfall Year, (such increased amount
hereinafter referred to as the “Incremental Royalty Payment”); provided, further, in the event of a Shortfall Year, the Applicable Percentage as increased by the Incremental Royalty Percentage shall also apply to any
Subsequent Product Net Revenues and also be considered an Incremental Royalty Payment. The Incremental Royalty Payment for any Shortfall Year shall in no event exceed two million two hundred and fifty thousand dollars ($2,250,000) and during the
Term the aggregate amount of all such Incremental Royalty Payments shall in no event exceed fifteen 

  

 - 6 - 

	 	 
million dollars ($15,000,000); and provided, further, the sum of the Incremental Royalty Payment and other payments to PRF under this
Section 2.02 for a Shortfall Year shall not exceed the amount of payments PRF would have received based on the Applicable Percentage (without any increase by the Incremental Royalty Percentage) if the Net Revenues in such Shortfall Year had
reached the Annual Net Revenues Threshold for such Fiscal Year. 

  

	 	(ii)	Commencing on the date hereof, the Interim Applicable Percentage of the Aggregate Deposit Funds in each Fiscal Year shall be swept from the Joint Accounts into the PRF Concentration
Account (Antara) and the PRF Concentration Account (Factive), as applicable, on a daily basis (the “Daily Amount”) pursuant to Section 5.08. 

 B. The following new Section 2.02(c) shall be added to the Agreement: 
  

	 	(c)	Subsequent Product Milestone. Within sixty (60) days following the second anniversary of the first Commercial Sale by an Assignor or any transferee or licensee of any
Assignor of a Subsequent Product, PRF shall be entitled to receive a one-time payment of one million and two hundred and fifty thousand dollars ($1,250,000). For avoidance of doubt, the Subsequent Product Milestone shall apply only to the first
Commercial Sale of a Subsequent Product and will not apply to any future sales of any Subsequent Products. 

 C. The following new
Section 2.02(d) shall be added to the Agreement: 
  

	 	(d)	 Undercollateralization. If at any time PRF believes that the then current fair market value of the Collateral is less than the then applicable Put/Call Price
(an “Undercollateralization”), then PRF, at its sole cost, may deliver to the Company a written statement setting forth its valuation of the Collateral and its determination of the then current Put/Call Price (the “PRF
Valuation”). At the time of delivery to the Company of such statement, PRF shall deliver to the Company supporting documentation of such Valuation that sets forth the valuation methodology and all material assumptions underlying the PRF
Valuation. Upon receipt of the PRF Valuation and supporting documentation, the Company shall have thirty (30) days to review the PRF Valuation and either accept the PRF Valuation or deliver to PRF a written statement setting forth its valuation
of the Collateral and its determination of the then current Put/Call Price (the “Company Valuation” and together with the PRF Valuation, the “Valuations” and each a “Valuation”). At the time of delivery to PRF of such
statement, the Company shall deliver to PRF supporting documentation of such Valuation that sets forth the valuation methodology and all material assumptions underlying the Company Valuation. Upon receipt of the Company Valuation and supporting
documentation, PRF and the Company shall negotiate to attempt to agree upon a valuation of the Collateral and the then current Put/Call Price. If after thirty (30) days following delivery of the Company Valuation, PRF and the Company shall not
have agreed upon 

  

 - 7 - 

	 	 
a valuation of the Collateral and upon the applicable Put/Call Price, either party may request that a third party valuator reasonably acceptable to both
parties be retained (the “Independent Valuator”). PRF and the Company shall each bear one half of the costs and expenses of the Independent Valuator. The parties shall provide the Independent Valuator with the Valuations and with any
supporting documentation that either PRF or the Company, as the case may be, wishes to provide in support of its Valuation. The Independent Valuator shall, within thirty (30) days of receipt of the parties’ respective submissions,
determine whether it believes the PRF Valuation or the Company Valuation is closer to the actual valuation of the Collateral and Put/Call Price. The party’s Valuation determined by the Independent Valuator to be closer shall be the valuation of
the Collateral and the Put/Call Price (the “Final Valuation”) and shall be used to determine if there is an Undercollateralization and the amount of such Undercollateralization (the “Undercollateralization Amount”). PRF may
initiate the first Final Valuation calculation at any time. Thereafter, either PRF or the Company may, by delivering a PRF Valuation or Company Valuation, as applicable, to the other party as set forth above, seek to recalculate the Final Valuation
upon the earliest of (i) nine months following the determination of the then most recent Final Valuation, (ii) such time a Subsequent Product is obtained, and (iii) the occurrence of a Put Option Event. In determining the valuation of
the Collateral at any time, such Valuation shall include, in addition to the Collateral, an amount equal to 25% of the fair market value of the assets in which an Assignor has granted a security interest to PRF in accordance with
Section 2.02(e) below. For the avoidance of doubt, all valuations contemplated by this Section 2.02(d) shall be used solely for the purposes of this Section and Section 2.02(e). 

 D. The following new Section 2.02(e) shall be added to the Agreement: 
  

	 	(e)	 If on or after the date a Subsequent Product is obtained (such date, the “SP Time”) a Final Valuation is in effect pursuant to Section 2.02(d) above
which shows that an Undercollateralization exists, the Assignor or Subsidiary of the Company shall, with respect to each Subsequent Product with an SP Time on or prior to the date of such Final Valuation irrevocably elect to either (i) grant or
cause to be granted to PRF a security interest in 25% of the Subsequent Product (including all intellectual property rights relating to such Subsequent Product) or (ii) promise to pay PRF $1,500,000 on the second anniversary of the first
Commercial Sale by Assignor or a Subsidiary of Assignor of such Subsequent Product that occurs after the SP Time of such Subsequent Product (the “Security Interest Payment”). If (i) is elected, then such security interest shall secure
any Undercollateralization that exists at any time on or after the SP Time. If the Assignor or a Subsidiary grants to a financing source, a licensor or transferor of the Subsequent Product or other third party (a “Financing Source”) a
security interest in or related to the Subsequent Product, the security interest granted to PRF in such Subsequent Product, if any, shall be pari passu with, in the same collateral and on terms consistent herewith and otherwise acceptable to the
Financing Source provided that the 

  

 - 8 - 

	 	 
Financing Source shall control the disposition of such collateral, may consent to any disposition of such collateral by the Company for itself and on behalf
of PRF, and PRF shall be deemed to hereby automatically release its security interest in connection with any disposition of such collateral consented to by the Financing Source, provided that PRF receives its 25% share of the proceeds of the sale.
In the event of a divestiture of a Subsequent Product in which Assignor or a Subsidiary has granted PRF a security interest, Assignor shall pay to PRF an amount of the proceeds of such divestiture (each a “Divestiture Payment”) equal to
25% of the proceeds of such divestiture, and PRF shall be deemed to hereby automatically release its security interest in such Subsequent Product. For the avoidance of doubt and notwithstanding any other provision of the Agreement or the Security
Agreement (i) the Assignors shall be permitted, provided they comply with the provisions of this Section 2.02(e), to obtain Subsequent Products and to sell, assign, divest or otherwise transfer rights in Subsequent Products it obtains (and
PRF shall release its security interest in connection with any such sale, assignment, divestiture or transfer), and (ii) Subsequent Products shall not be deemed to be Products. 

 3. Authorization and Issuance of Common Stock and Repricing of Warrant 
 A. Issuance of Common Stock. On the Effective Date of this First Amendment (as defined in Section 9), the Company shall issue, and deliver to PRF 500,000 shares of Common Stock (the “Amendment Shares”). On the
Effective Date, the Company shall issue and deliver to PRF one or more stock certificates, duly executed by the Company and registered in the Company’s stock ledger in PRF’s name, evidencing the Amendment Shares. 
 (a) Legend. Each certificate or instrument representing the Amendment Shares shall be imprinted with a legend in substantially the following form:

 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE TRANSFER OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO THE CONDITIONS SPECIFIED IN THE FIRST AMENDMENT TO THE REVENUE INTEREST ASSIGNMENT AGREEMENT, DATED JULY 21, 2006, BETWEEN AND AMONG, OSCIENT PHARMACEUTICALS CORPORATION (THE “COMPANY”),
GUARDIAN II ACQUISITION CORPORATION, AND PAUL ROYALTY FUND HOLDINGS II, AND THE COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH TRANSFER. A COPY OF SUCH CONDITIONS
SHALL BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.” 
 B. Repricing of Warrant. On the Effective
Date, the Common Stock Purchase Warrant (the “Warrant”) dated August 18, 2006 issued to PRF by the Company to purchase 288,019 of the common stock, par value $0.10 of the Company (the “Common Stock”) shall be
amended to amend the Exercise Price (as defined in the Warrant) to be equal to the closing price of the 

  

 - 9 - 

 
Company’s Common Stock on the NASDAQ Global Market on the date immediately preceding the Effective Date. On the Effective Date, the Company shall
deliver to PRF a Notice of Adjustment to reflect the new exercise price of the warrant. 
 4. Authorization and Issuance of New Note. 
 A. Form of New Note and Amount. The Company has authorized the issue and sale of a $2,000,000 aggregate principal amount Senior Secured Note (the
“New Note”). The New Note shall be substantially in the form set out in Exhibit 1.1, with such form being substantially identical to the Company’s Convertible Senior Notes as issued in the Company’s exchange offer of its
3.50% Convertible Senior Notes Due 2011 for its Convertible Senior Notes and shares of Common Stock commenced on October 21, 2008 (the “Exchange Offer”) except that the New Note will bear the legend set forth in Sub Section C
below. Provided further, the New Note will be issued under and governed by the Indenture governing the Convertible Senior Notes issued in the Exchange Offer or an Indenture in form and substance substantially similar to such Indenture and be
entitled to the identical security interests and other rights granted to or for the benefit of the Convertible Senior Notes. The shares of Common Stock issuable upon conversion of the New Note are referred to as the “Conversion Shares.”
 
 B. Issuance of New Note. The issuance of the New Note shall occur at the offices of Ropes & Gray LLP, Boston, Massachusetts at
9:00 a.m., New York time, on the Effective Date. On the Effective Date, the Company will deliver to PRF the New Note in the form of a single New Note dated the Effective Date and registered in PRF’s name (or in the name of its nominee). On the
Effective Date, the dates left blank in this form of New Note attached hereto as Exhibit 1.1. (i.e., the issuance date of the New Note) shall be completed based on the Effective Date. 
 C. Legend. The New Note shall bear the following legend: 
 THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION
OR EXERCISE OF HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION OR EXERCISE HEREOF MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT WITH RESPECT HERETO OR THERETO UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 
 5. Transfer of Restricted Securities 
 A. General Provisions. Restricted Securities are transferable only
pursuant to (a) public offerings registered and declared effective pursuant to a registration statement under the Securities Act, (b) Rule 144 or Rule 144A of the SEC (or any similar rule or rules then in force) if such rule is available
and (c) any other legally available means of transfer. 
  

 - 10 - 

 B. Rule 144A. Upon the request of PRF, the Company shall promptly supply to PRF all information regarding the
Company required to be delivered in connection with a transfer pursuant to Rule 144A of the SEC. 
 C. Legend Removal. If any Restricted Securities
become eligible for sale pursuant to Rule 144(e), the Company shall, upon the request of the holder of such Restricted Securities, remove the legend set forth in Section 4C of this First Amendment from the certificates for such Restricted
Securities. Any holder requesting the removal of such legend shall deliver or cause to be delivered to the Company a certificate executed by the holder and an opinion of such holder’s counsel, such certificate and opinion to be in form and
substance reasonably satisfactory to the Company. 
 D. As used in this First Amendment the term “Restricted Securities” shall mean the
Amendment Shares issued hereunder, the New Note, and all shares of Common Stock issuable upon conversion thereof and all shares of Common Stock of the Company issued or issuable in respect thereof by way of a stock dividend, stock split,
combination, subdivision or other similar event. As to any particular Restricted Securities, such securities shall cease to be Restricted Securities when they have (a) been effectively registered under the Securities Act and disposed of in
accordance with the registration statement covering them, (b) been distributed to the public through a broker, dealer or market maker pursuant to Rule 144 (or any similar provision then in force) under the Securities Act or become eligible for
sale pursuant to Rule 144(e) (or any similar provision then in force) under the Securities Act, or (c) been otherwise transferred and new certificates for them not bearing the Securities Act legend set forth in Section 3A (a) or
Section 4C of this First Amendment have been delivered by the Company in accordance with Section 6C of this First Amendment. Whenever any particular securities cease to be Restricted Securities, the holder thereof shall be entitled to
receive from the Company, without expense, new securities of like tenor not bearing a Securities Act legend of the character set forth in Section 3A (a) or Section 4C of this First Amendment. Any holder requesting the removal of such
legend shall deliver or cause to be delivered to the Company a certificate executed by the holder and an opinion of such holder’s counsel, such certificate and opinion to be in form and substance reasonably satisfactory to the Company.

 6. Representations and Warranties of PRF and the Assignors 
 A. As an inducement to the Company to enter into this First Amendment and to issue the Amendment Shares and reprice the Warrant, PRF hereby represents and warrants to the Company and agrees as follows: 
 (i) The Amendment Shares, the New Note and the shares issuable upon the conversion of the New Note are being acquired for PRF’s own account and
without a view to the resale or distribution of the Amendment Shares, the New Note or the shares issuable upon the conversion of the New Note or any interest therein other than in a transaction exempt from registration under the Securities Act.

 (ii) PRF is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D under the Securities Act.

  

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 (iii) PRF understands that the Restricted Securities being sold hereby have not been registered under the
Securities Act, or applicable state securities laws, and are being issued in reliance on exemptions for private offerings contained in Section 4(2) of the Securities Act and in reliance on exemptions from the registration requirements of
certain state securities laws. Because the Restricted Securities have not been registered under the Securities Act or applicable state securities laws, the Restricted Securities may not be re-offered or resold except through a valid and effective
registration statement or pursuant to a valid exemption from the registration requirements under the Securities Act and applicable state securities laws. 
 (iv) PRF has sufficient knowledge and experience in financial and business matters so as to be capable of evaluating the merits and risks of its investment in the Amendment Shares, the New Note and the shares issuable
upon the conversion of the New Note and is capable of bearing the economic risks of such investment, including a complete loss of its investment in the Amendment Shares, the New Note and the shares issuable upon the conversion of the New Note. PRF
understands that its investment in the Amendment Shares, the New Note and the shares issuable upon the conversion of the New Note involves a high degree of risk. 
 (v) Brokers. PRF has not taken any action that would entitle any Person to any commission or broker’s fee in connection with the transactions contemplated by the First Amendment. 
 B. As an inducement to PRF to enter into this First Amendment, the Assignors hereby represent and warrants to PRF and agree as follows: 
 (i) Organization. Each Assignor is a corporation duly incorporated, validly existing and in good standing under the laws of its state of
organization, and has all corporate powers and all licenses, authorizations, consents and approvals required to carry on its business as now conducted and as proposed to be conducted in connection with the transactions contemplated by the
Transaction Documents, as amended by this First Amendment. Each Assignor is duly qualified to do business as a foreign corporation and is in good standing in every jurisdiction in which the failure to do so would have a Material Adverse Effect.

 (ii) Corporate Authorization. Each Assignor has all necessary power and authority to enter into, execute and deliver this First
Amendment and to perform all of the obligations to be performed by it hereunder and to consummate the transactions contemplated hereunder. This First Amendment has been duly authorized, executed and delivered by each Assignor and constitutes the
valid and binding obligation of such Assignor, enforceable against it in accordance with its respective terms, subject, as to enforcement of remedies, to bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’
rights generally or general equitable principles. 
 (iii) Conflicts. 
 (a) Neither the execution and delivery of this First Amendment nor the performance or consummation of the transactions contemplated by the Transaction
Documents, as amended by this First Amendment, will: (i) contravene, conflict with, result 

  

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in a breach or violation of, constitute a default under, or accelerate the performance provided by, in any material respects any provisions of: (A) any
law, rule, ordinance or regulation of any Governmental Authority, or any judgment, order, writ, decree, permit or license of any Governmental Authority, to which the Company or any of its Subsidiaries or any of their respective assets or properties
may be subject or bound; or (B) any material contract, agreement, commitment or instrument to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries or any of their respective assets or
properties is bound or committed; (ii) contravene, conflict with, result in a breach or violation of, constitute a default under, or accelerate the performance provided by, any provisions of the certificate of incorporation or by-laws (or other
organizational or constitutional documents) of the Company or any of its Subsidiaries; (iii) except for the filing of any UCC-1 financing statements contemplated hereunder and filings with the United States Patent and Trademark Office, require
any notification to, filing with, or consent of, any Person or Governmental Authority; (iv) give rise to any right of termination, cancellation or acceleration of any right or obligation of the Company or any of its Subsidiaries or any other
Person relating to the Revenue Interests or the Assigned Interests; or (v) result in the creation or imposition of any Lien on (A) the assets or properties of the Company or any of its Subsidiaries or (B) the Assigned Interests, the
Revenue Interests, or any other Collateral, other than, with respect to clause (v) above, pursuant to the Security Agreement by and between Guardian and U.S. Bank National Association, in its capacity as collateral agent for the holders of the
Senior Convertible Notes as issued in the Exchange Offer (the “Noteholder Security Agreement”). 
 (b) None of the Company
and its Subsidiaries has granted, nor does there exist, any Lien on the Revenue Interests, the Assigned Interests or any other Collateral other than pursuant to the Security Agreement, as set forth on Schedule 2.01 to the Agreement, or other than
pursuant to the Noteholder Security Agreement. 
 7. Broker’s Fee 
 The Company covenants that if it takes any action under this First Amendment which would entitle any Person to a commission or broker’s fee, it will bear the cost of such fee. 
 8. Registration Rights 
 The Registration Rights Agreement dated
August 25, 2006 between the Company and PRF (the “Registration Rights Agreement”) is hereby amended as follows: 
 A.
Section 1.1 of the Registration Rights Agreement is amended to add the following definitions: 
 “Amendment Shares”
shall mean the 500,000 shares of Common Stock issued to PRF under the First Amendment to the Revenue Interest Assignment Agreement dated as of November 5, 2008 (the “First Amendment”) among the Company, PRF and the Company’s
subsidiary, Guardian II Acquisition Corporation, a Delaware corporation. 
  

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 “Conversion Shares” shall mean the shares of Common Stock issuable upon conversion of
the New Note (as defined in the First Amendment”). 
 B. The definition of Registrable Securities set forth in the Registration Rights
Agreement is deleted in its entirety and replaced by the following: 
 “Registrable Securities” means (a) the Shares,
(b) the Common Stock underlying the Warrant, (c) the Amendment Shares, (d) the Conversion Shares and (e) any Common Stock issued or issuable with respect to any of the securities referred to in clauses (a) -(d) by way
of a stock dividend, stock split, combination, subdivision or other similar event. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when they (x) have been registered and sold pursuant to the
Securities Act or which have been sold to the public pursuant to Rule 144 or any similar rule promulgated by the SEC pursuant to the Securities Act permitting the resale of restricted securities without the necessity of a registration statement
under the Securities Act or (y) upon any Transfer in any manner to a Person which, by virtue of Section 8.3, is not entitled to the rights provided by this Agreement. 
 C. Except as set forth in this Section 7, the Registration Rights Agreement remains in full force and effect. If in order for the Note to be traded fungibly with the notes of the Company issued in the Exchange
Offer, it is necessary for the resale by PRF of the Note to be registered under the Securities Act, the Company shall use reasonable commercial efforts to register such resale on terms substantially similar to the terms of the Registration Rights
Agreement (and PRF shall obligations with respect thereto substantially similar to its obligations under the Registration Rights Agreement). 
 8.
Expenses 
 The Parties hereby agree that the Company shall promptly reimburse PRF its reasonable out-of-pocket legal expenses incurred exclusively in
connection with the negotiation, drafting or consummation of this First Amendment; provided, however, that in the event such out-of-pocket expenses exceed seventy-five thousand dollars ($75,000), PRF shall promptly notify the Company and the Company
shall have the option, at its sole discretion, to terminate negotiations with PRF and shall not be responsible for any additional legal expenses under this section; provided, further, however, and for the avoidance of doubt, that in the event the
Company elects not to terminate negotiations as set forth in this section, then the Company shall be responsible for any such additional legal expenses. 
 9. Effectiveness and Entire Agreement 
 A. Subject to all sections of this Section 9, this First Amendment is not effective until each
of the following conditions have been satisfied or waived in writing by PRF on or before January 31, 2009, unless such deadline is extended in writing by PRF in its sole discretion (the “Effective Date”): 
 (i) the Assignors have entered into an Intercreditor Agreement in the form attached hereto as Exhibit A with PRF; 
  

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 (ii) PRF has approved, which approval shall not be unreasonably withheld, any changes in the provisions
in the form of Indenture attached hereto as Exhibit B or Security Agreement attached hereto as Exhibit C, governing the Senior Convertible Notes that address collateral provided for the benefit of the holders of the Senior Convertible Notes, their
rights with respect to that collateral, any guaranty or other commitment by Guardian, any covenant or definition that concerns “permitted liens,” and any grant of security (or promise of a grant of security) by the Company and the
conflicts of documents provisions with respect to the Intercreditor Agreement. 
 (iii) no Event of Default has occurred under the Note;

 (iv) no Event of Default, Put Option Event or Change of Control has occurred under the Agreement; 
 (v) all representations set forth in this First Amendment are true in all material respects as of the Effective Date; 
 (vi) no litigation or other proceeding has been commenced that seeks to enjoin or in any way materially challenge the transactions contemplated by this
First Amendment; 
 (vii) the Company has issued to PRF the New Note, Amendment Shares and Amendment to the Warrant; 
 (viii) PRF has received such reasonable corporate documents by way of resolution, officer’s certificate, or the like evidencing the Assignors
authorization and approval to execute this First Amendment and engage in the transactions contemplated hereby; 
 (ix) Guardian and PRF have
entered into an account control agreement, in form reasonably acceptable to each party, that provides for the perfection of the grant of security by Guardian over the deposit account described in Section 5.13(b) of the Agreement; and

 (x) the Company has closed the Exchange Offer. 
 PRF shall, subject to the satisfaction of the conditions set forth in Section 9A(i)-(x) above, execute and deliver the Intercreditor Agreement at the closing of the Exchange Offer. 
 B. Anything else in this First Amendment notwithstanding, Section 8 shall be immediately effective upon the execution of this First Amendment by the Parties and,
for the avoidance of doubt, shall remain effective even if the other terms in this Agreement do not become effective. 
 C. Anything else in this First
Amendment notwithstanding, if the Exchange Offer does not close for any reason, or if in the Company’s sole discretion, it elects, prior to the closing of the Exchange Offer upon written notice to PRF, not to grant the Second Lien for the
benefit of the holders of the notes issued in the Exchange Offer, then this Amendment and the Intercreditor Agreement shall not become effective and shall terminate subject only to Section 8 hereof (as provided in Section 9 B above) which
shall survive and remain effective. 
 D. Subject to the terms and conditions of this First Amendment, including the conditions to effectiveness in
Section 9(A), (i) PRF hereby consents for purposes of the Agreement to the execution and delivery by the Company and Guardian of this Agreement, the Intercreditor Agreement, the Indenture and the Security Agreement and (ii) PRF
acknowledges and agrees 

  

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that the grant of the security interest in the Collateral to the Second Lien Agent (each as defined in the Intercreditor Agreement) pursuant to the Security
Agreement and in accordance with the Intercreditor Agreement will not constitute a breach of or event of default or Put Option Event (as defined in the Agreement) under any of the Transaction Documents (as defined in the Agreement). 
 E. This First Amendment together with the Agreement constitute the entire understandings and agreement between the Parties and supersede all previous writings and
understandings between the Parties with respect to the subject matter hereof. No term or provision of this First Amendment shall be varied or modified by any prior or subsequent statement, conduct or act of either of the parties hereto, except that
the Parties may amend this First Amendment by written instruments specifically referring to and executed in the same manner as this Amendment. In the event any of the provisions in this First Amendment shall be inconsistent with the provisions of
the Agreement, the provisions in this First Amendment shall govern. All terms and conditions of the Agreement not amended hereby shall remain in full force and effect. 
 [Remainder of page intentionally left blank] 
  

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 Each of the parties confirms it agreement with the foregoing by its signature below, which will constitute each
party’s agreement with respect to the subject matter of this First Amendment. 
  

									
	OSCIENT PHARMACEUTICALS CORPORATION	  		 	PAUL ROYALTY FUND HOLDINGS II
					
	BY:	  	 /s/    Philippe M. Maitre
	  		 	BY:	 	 /s/    Lionel Leventhal

					
	NAME:	  	 Philippe M. Maitre
	  		 	NAME:	 	 Lionel Leventhal

					
	TITLE:	  	 Executive Vice President and
 Chief Financial Officer
	  		 	TITLE:	 	 Manager, PLA, LLC

					
	DATE:	  	 10/5/08
	  		 	DATE:	 	 10/5/08

				
	GUARDIAN II ACQUISITION CORPORATION	  		 		 	
					
	BY:	  	 /s/    Dominick Colangelo
	  		 		 	
					
	NAME:	  	 Dominick Colangelo
	  		 		 	
					
	TITLE:	  	 Vice President
	  		 		 	
					
	DATE:	  	 10/5/08
	  		 		 	

  

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