Document:

Second Amended & Restated Limited Liability Company Agrment of Zipcar Financing

 Exhibit 10.6 
 SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 
 OF 

ZIPCAR VEHICLE FINANCING LLC 
 This Second Amended and Restated Limited Liability Company Agreement (together with the schedules attached hereto, this “Agreement”) of Zipcar Vehicle Financing LLC (the
“Company”), is entered into by Zipcar, Inc., a Delaware corporation, as the sole member (the “Member”). Capitalized terms used and not otherwise defined herein have the meanings set forth on Schedule A hereto.

 The Member, by execution of this Agreement, (i) hereby continues the Company as a limited liability company pursuant to
and in accordance with the Delaware Limited Liability Company Act (6 Del. C. Section 18-101 et seg.), as amended from time to time (the “Act”), and this Agreement, (ii) hereby amends and restates in its entirety the
Amended and Restated Limited Liability Company Agreement of the Company, dated as of May 24, 2010, (the “Amended and Restated LLC Agreement”), and hereby agrees as follows: 

SECTION 1. Name. The name of the limited liability company continued hereby is Zipcar Vehicle Financing LLC. 

SECTION 2. Principal Business Office. The principal business office of the Company shall be located at 25
First Street, 4th Floor, Cambridge, MA 02141, or such
other location as may hereafter be determined by the Member. 
 SECTION 3. Registered Office. The address of the
registered office of the Company in the State of Delaware is c/o The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County of New Castle, Delaware 19801. 

SECTION 4. Registered Agent. The name and address of the registered agent of the Company for service of process on the Company in
the State of Delaware is The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County of New Castle, Delaware 19801. 
 SECTION 5. Member. (a) The mailing address of the Member is set forth on Schedule B attached hereto. 
 (b) Subject to Section 9(j), the Member may act by written consent. 

 (c) Notwithstanding any provision in this Agreement to the contrary, if there is only one
Member, upon the occurrence of any event that causes the Member to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon (i) an assignment by the Member of all of its limited liability company
interest in the Company and the admission of the transferee pursuant to Sections 21 and 23, or (ii) the resignation of the Member and the admission of an additional member of the Company pursuant to Sections 22 and
23), each person acting as an Independent Director pursuant to Section 10 shall, without any action of any Person and simultaneously with the Member ceasing to be a member of the Company, automatically be admitted to the Company
as a Special Member and shall continue the Company without dissolution. No Special Member may resign from the Company or transfer its rights as Special Member unless (i) a successor Special Member has been admitted to the Company as Special
Member by executing a counterpart to this Agreement, and (ii) such successor has also accepted its appointment as an Independent Director pursuant to Section 10; provided, however, that any Special Member shall
automatically cease to be a member of the Company upon the admission to the Company of a substitute Member. Each Special Member shall be a member of the Company that has no interest in the profits, losses and capital of the Company and has no right
to receive any distributions of Company assets. Pursuant to Section 18-301 of the Act, a Special Member shall not be required to make any capital contributions to the Company and shall not receive a limited liability company interest in the
Company. A Special Member, in its capacity as a Special Member, may not bind the Company. Except as required by any mandatory provision of the Act, each Special Member, in its capacity as a Special Member, shall have no right to vote on, approve or
otherwise consent to any action by, or matter relating to, the Company, including, without limitation, the merger, consolidation or conversion of the Company. In order to implement the future, contingent admission to the Company of each Special
Member, each individual acting as an Independent Director pursuant to Section 10 shall execute a counterpart to this Agreement upon his or her appointment as an Independent Director. Prior to its admission to the Company as a Special
Member, any individual acting as an Independent Director pursuant to Section 10 shall not be a member of the Company. 
 SECTION 6. Certificates. George Lofaso is hereby designated as an “authorized person” within the meaning of the Act, and has executed, delivered and filed the original Certificate of
Formation of the Company dated February 4, 2010, with the Secretary of State of the State of Delaware. Upon the filing of the original Certificate of Formation with the Secretary of State of the State of Delaware, his powers as an
“authorized person” ceased, and the Member thereupon became the designated “authorized person” and shall continue as the designated “authorized person” within the meaning of the Act. The Member or an Officer shall
execute, deliver and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in such states (including the District of Columbia) as the Board of Directors deems necessary to
operate its business or as otherwise required by the Related Documents. 
 The existence of the Company as a separate legal
entity shall continue until cancellation of the Certificate of Formation as provided in the Act. 

  
 2 

 SECTION 7. Purposes, (a) The purpose to be conducted or promoted by the Company
is to engage in the following activities: 
 (i) to purchase passenger vehicles and light-duty trucks (the
“Vehicles”) from certain manufacturers and dealers, to receive capital contributions from the Member, to dispose of Vehicles by selling them to dealers, at auction, to Zipcar or otherwise, and to own and hold Vehicles; 

(ii) to lease the Vehicles to Zipcar pursuant to the Operating Lease or other leases similar to the Operating Lease;

 (iii) to issue, sell, authorize and deliver the Notes, to pledge its assets to secure the Notes and to enter
into any agreement or document providing for the authorization, issuance, sale and delivery of the Notes; 
 (iv)
to finance the acquisition cost of the Vehicles through the issuance of the Notes, capital contributions from the Member, and any other source; 
 (v) to execute, deliver and perform its obligations under the Related Documents and any other agreement or instrument relating to the activities set forth in clauses (i) through (iv) above;

 (vi) to engage in any lawful act or activity and to exercise any powers permitted to limited liability
companies organized under the laws of the State of Delaware that are related or incidental to the foregoing and necessary, convenient or advisable to accomplish the foregoing (including the entering into of interest rate swap, cap, floor or collar
agreements or similar hedging transactions and management, servicing and administration agreements). 
 (b) The Company, by or
through any Member, Director or Officer on behalf of the Company, may enter into and perform its obligations under the Related Documents and all documents, agreements, certificates, or financing statements contemplated thereby or related thereto,
all without any further act, vote or approval of the Member or any Director or Officer notwithstanding any other provision of this Agreement, the Act or applicable law, rule or regulation. The foregoing authorization shall not be deemed a
restriction on the powers of any Member, Director or Officer to enter into other agreements on behalf of the Company. 
 SECTION
8. Powers. Subject to Section 9(j), the Company, and the Board of Directors and the Officers on behalf of the Company, (i) shall have and exercise all powers necessary, convenient or incidental to accomplish its purposes as
set forth in Section 7 and (ii) shall have and exercise all of the powers and rights conferred upon limited liability companies formed pursuant to the Act. 

  
 3 

 SECTION 9. Management. (a) Board of Directors. Subject to
Section 9(j), the business and affairs of the Company shall be managed by or under the direction of a Board of two or more Directors designated by the Member. Subject to Section 10, the Member may determine at any time in its
sole and absolute discretion the number of Directors to constitute the Board. The authorized number of Directors may be increased or decreased by the Member at any time in its sole and absolute discretion, upon notice to all Directors, and subject
in all cases to Section 10. The initial number of Directors shall be six, two of which shall be Independent Directors pursuant to Section 10. Each Director elected, designated or appointed by the Member shall hold office
until a successor is elected and qualified or until such Director’s earlier death, resignation, expulsion or removal. Each Director shall execute and deliver the Management Agreement. Directors need not be a Member. The initial Directors
designated by the Member are listed on Schedule D hereto. 
 (b) Powers. Subject to Section 9(j), the
Board of Directors shall have the power to do any and all acts necessary, convenient or incidental to or for the furtherance of the purposes described herein, including all powers, statutory or otherwise. Subject to Section 7, the Board
of Directors has the authority to bind the Company. 
 (c) Meeting of the Board of Directors. The Board of Directors of
the Company may hold meetings, both regular and special, within or outside the State of Delaware. Regular meetings of the Board may be held at such time and at such place as shall from time to time be determined by the Board. Special meetings of the
Board may be called by the President on not less than one day’s notice to each Director by telephone, facsimile, mail, telegram or any other means of communication, and special meetings shall be called by the President or Secretary in like
manner and with like notice upon the written request of any one or more of the Directors; provided that any Director may waive such notice requirements. 
 (d) Quorum; Acts of the Board. At all meetings of the Board, a majority of the Directors shall constitute a quorum for the transaction of business and, except as otherwise provided in any other
provision of this Agreement, the act of a majority of the Directors present at any meeting at which there is a quorum shall be the act of the Board. If a quorum shall not be present at any meeting of the Board, the Directors present at such meeting
may adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum shall be present. Any action required or permitted to be taken at any meeting of the Board or of any committee thereof may be taken
without a meeting if all members of the Board or committee, as the case may be, consent thereto in writing, and the writing or writings are filed with the minutes of proceedings of the Board or committee, as the case may be, to the extent permitted
by the Act. 
 (e) Electronic Communications. Members of the Board, or any committee designated by the Board, may
participate in meetings of the Board, or any committee, by means of telephone conference or similar communications equipment that allows all persons participating in the meeting to hear each other, and such participation in a meeting shall
constitute presence in person at the meeting. If all the participants are participating by telephone conference or similar communications equipment, the meeting shall be deemed to be held at the principal place of business of the Company.

  
 4 

 (f) Committees of Directors, (i) The Board may, by resolution passed by a
majority of the whole Board, designate one or more committees, each committee to consist of one or more of the Directors of the Company. The Board may designate one or more Directors as alternate members of any committee, who may replace any absent
or disqualified member at any meeting of the committee. 
 (ii) In the absence or disqualification of a member of
a committee, the member or members thereof present at any meeting and not disqualified from voting, whether or not such members constitute a quorum, may unanimously appoint another member of the Board to act at the meeting in the place of any such
absent or disqualified member. 
 (iii) Subject to Sections 9(j) and 10, any such committee, to the
extent provided in the resolution of the Board, shall have and may exercise all the powers and authority of the Board in the management of the business and affairs of the Company. Such committee or committees shall have such name or names as may be
determined from time to time by resolution adopted by the Board. Each committee shall keep regular minutes of its meetings and report the same to the Board when required. 
 (g) Compensation of Directors; Expenses. The Board shall have the authority to fix the compensation of Directors. The Directors may be paid their expenses, if any, of attendance at meetings of the
Board, which may be a fixed sum for attendance at each meeting of the Board or a stated salary as Director. No such payment shall preclude any Director from serving the Company in any other capacity and receiving compensation therefor. Members of
special or standing committees may be allowed like compensation for attending committee meetings. 
 (h) Removal of
Directors. Unless otherwise restricted by law and subject to Section 10, any Director or the entire Board of Directors may be removed or expelled, with or without cause, at any time by the Member, and any vacancy caused by any such
removal or expulsion may be filled by action of the Member. 
 (i) Directors as Agents. To the extent of their powers set
forth in this Agreement and subject to Section 9(j), the Directors are agents of the Company for the purpose of the Company’s business, and the actions of the Directors taken in accordance with such powers set forth in this
Agreement shall bind the Company. Notwithstanding the last sentence of Section 18-402 of the Act, except as provided in this Agreement or in a resolution of the Board, a Director may not bind the Company. 

(j) Limitations on the Company’s Activities. 

(i) This Section 9(j) is being adopted in order to comply with certain provisions required in order to qualify
the Company as a “special purpose” entity. 

  
 5 

 (ii) The Member shall not, so long as any Obligation is outstanding, amend,
alter, change or repeal the definition of “Independent Director” or Sections 5(c), 7, 8, 9, 10, 16, 20, 21, 22, 23, 24, 25, 26, 29 or
31 or Schedule A of this Agreement without the unanimous written consent of the Board (including all Independent Directors). Subject to this Section 9(j), the Member reserves the right to amend, alter, change or repeal any
provisions contained in this Agreement in accordance with Section 31. 
 (iii) Notwithstanding any
other provision of this Agreement and any provision of law that otherwise so empowers the Company, the Member, the Board, any Officer or any other Person, neither the Member nor the Board nor any Officer nor any other Person shall be authorized or
empowered, nor shall they permit the Company, without the prior written consent of the Member and the prior unanimous written consent of the Board (including all Independent Directors) to take any Material Action; provided, however,
that the Board may not vote on, or authorize the taking of, any Material Action, unless there are at least two Independent Directors then serving in such capacity. 

(iv) So long as any Obligation is outstanding, the Board and the Member shall cause the Company to do or cause to be done
all things necessary to preserve and keep in full force and effect its existence, rights (charter and statutory) and franchises; provided, however, that the Company shall not be required to preserve any such right or franchise if:
(1) the Board shall determine that the preservation thereof is no longer desirable for the conduct of its business and that the loss thereof is not disadvantageous in any material respect to the Company and (2) the Rating Agency Condition
with respect to each Series of Notes that is rated by a Rating Agency is satisfied. The Board also shall cause the Company to: 
 (A) maintain its own separate books and records and bank accounts; 

(B) at all times hold itself out to the public and all other Persons as a legal entity separate from the Member and any
other Person; 
 (C) have a Board of Directors separate from that of the Member and any other Person; 

(D) file its own tax returns, if any, as may be required under applicable law, to the extent (1) not part of a
consolidated group filing a consolidated return or returns or (2) not treated as a division for tax purposes of another taxpayer, and pay any taxes so required to be paid under applicable law; 

(E) except as contemplated by the Related Documents, not commingle its assets with assets of any other Person; 

  
 6 

 (F) conduct its business (including all written and oral communications) in
its own name and through its duly authorized Officers or agents, and strictly comply with all organizational formalities to maintain its separate existence; 
 (G) maintain separate financial statements; 
 (H) pay its own
liabilities only out of its own funds; 
 (I) maintain an arm’s length relationship with its Affiliates and
the Member; 
 (J) pay the salaries of its own employees, if any (provided, that the foregoing shall not
require the Member to make any additional capital contributions to the Company); 
 (K) not hold out its credit
or assets as being available to satisfy the obligations of others; 
 (L) allocate fairly and reasonably any
overhead for shared office space; 
 (M) use separate invoices, checks and stationery; 

(N) except as contemplated by the Related Documents, not pledge its assets for the benefit of any other Person;

 (O) correct any known misunderstanding regarding its separate identity; 

(P) maintain adequate capital in light of its contemplated business purpose, transactions and liabilities
(provided, that the foregoing shall not require the Member to make any additional capital contributions to the Company); 
 (Q) cause its Board of Directors to meet at least annually or act pursuant to written consent and keep minutes of such meetings and actions and observe all other Delaware limited liability company
formalities; 
 (R) not acquire any securities of the Member; and 

(S) cause the Directors, Officers, agents and other representatives of the Company to act at all times with respect to the
Company consistently and in furtherance of the foregoing and in the best interests of the Company. 

  
 7 

 Failure of the Company, or the Member or the Board on behalf of the Company, to comply with any of the
foregoing covenants shall not affect the status of the Company as a separate legal entity or the limited liability of the Member, the Special Member, if any, or the Directors. 

(v) So long as any Obligation is outstanding, the Board shall not cause or permit the Company to: 

(A) guarantee any obligation of any Person, including any Affiliate; 

(B) engage, directly or indirectly, in any business other than the actions required or permitted to be performed under
Section 7, the Related Documents or this Section 9(j); 
 (C) incur, create or assume any
indebtedness other than the Obligations or as otherwise expressly permitted under the Related Documents; 
 (D)
make or permit to remain outstanding any loan or advance to, or own or acquire any stock or securities of, any Person except as permitted by the Related Documents; 

(E) to the fullest extent permitted by law, engage in any consolidation, merger or asset sale other than such activities
as are expressly permitted pursuant to any provision of the Related Documents; or 
 (F) form, acquire or hold
any subsidiary (whether corporate, partnership, limited liability company or other). 
 SECTION 10. Independent Director.
As long as any Obligation is outstanding, the Member shall cause the Company at all times to have at least two Independent Directors who will be appointed by the Member. Notwithstanding any duty otherwise existing at law or in equity, to the fullest
extent permitted by law, including Section 18-1101(c) of the Act, the Independent Directors shall consider only the interests of the Company, including its respective creditors, in acting or otherwise voting on the matters referred to in
Section 9(j)(iii). No resignation or removal of an Independent Director, and no appointment of a successor Independent Director, shall be effective until the successor Independent Director shall have accepted his or her appointment by a
written instrument, which may be a counterpart signature page to the Management Agreement. In the event of a vacancy in the position of Independent Director, the Member shall, as soon as practicable, appoint a successor Independent Director. All
right, power and authority of an Independent Director shall be limited to the extent necessary to exercise those rights and perform those duties specifically set forth in this Agreement. No Independent Director shall at any time serve as trustee in
bankruptcy for any Affiliate of the Company. 

  
 8 

 SECTION 11. Officers, (a) Officers. The initial Officers of the Company
designated by the Member are listed on Schedule E hereto. The additional or successor Officers of the Company shall be chosen by the Board and shall consist of at least a President, a Treasurer and an Assistant Secretary. The Board of Directors may
also choose one or more Vice Presidents, Assistant Secretaries and Assistant Treasurers. One or more Vice Presidents may be designated a Vice President, Fleet Operations. Any number of offices may be held by the same person. The Board may appoint
such other Officers and agents as it shall deem necessary or advisable who shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board. The salaries of all
Officers and agents of the Company shall be fixed by or in the manner prescribed by the Board. The Officers of the Company shall hold office until their successors are chosen and qualified. Any Officer elected or appointed by the Board may be
removed at any time, with or without cause, by the affirmative vote of a majority of the Board. Any vacancy occurring in any office of the Company shall be filled by the Board. 

(b) President. The President shall be the chief executive officer of the Company, shall preside at all meetings of the Board,
shall be responsible for the general and active management of the business of the Company and shall see that all orders and resolutions of the Board are carried into effect. The President or any other Officer authorized by the President or the Board
shall execute all bonds, mortgages and other contracts, except: (i) where required or permitted by law or this Agreement to be otherwise signed and executed, including Section 7(b); (ii) where signing and execution thereof
shall be expressly delegated by the Board to some other Officer or agent of the Company; and (iii) as otherwise permitted in Section 11(c). 
 (c) Vice President. In the absence of the President or in the event of the President’s inability to act, the Vice President, if any (or in the event there be more than one Vice President, the
Vice Presidents in the order designated by the Directors, or in the absence of any designation, then in the order of their election), shall perform the duties of the President, and when so acting, shall have all the powers of and be subject to all
the restrictions upon the President. The Vice Presidents, if any, shall perform such other duties and have such other powers as the Board may from time to time prescribe. 
 (d) Secretary and Assistant Secretary. The Secretary shall be responsible for filing legal documents and maintaining records for the Company. The Secretary shall attend all meetings of the Board
and record all the proceedings of the meetings of the Company and of the Board in a book to be kept for that purpose and shall perform like duties for the standing committees when required. The Secretary shall give, or shall cause to be given,
notice of all meetings of the Member, if any, and special meetings of the Board, and shall perform such other duties as may be prescribed by the Board or the President, under whose supervision the Secretary shall serve. The Assistant Secretary, or
if there be more than one, the Assistant Secretaries in the order determined by the Board (or if there be no such determination, then in order of their election), shall, in the absence of the Secretary or in the event of the Secretary’s
inability to act, perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board may from time to time prescribe. 

  
 9 

 (e) Treasurer and Assistant Treasurer. The Treasurer shall have the custody of the
Company funds and securities and shall keep full and accurate accounts of receipts and disbursements in books belonging to the Company and shall deposit all moneys and other valuable effects in the name and to the credit of the Company in such
depositories as may be designated by the Board. The Treasurer shall disburse the funds of the Company as may be ordered by the Board, taking proper vouchers for such disbursements, and shall render to the President and to the Board, at its regular
meetings or when the Board so requires, an account of all of the Treasurer’s transactions and of the financial condition of the Company. The Assistant Treasurer, or if there shall be more than one, the Assistant Treasurers in the order
determined by the Board (or if there be no such determination, then in the order of their election), shall, in the absence of the Treasurer or in the event of the Treasurer’s inability to act, perform the duties and exercise the powers of the
Treasurer and shall perform such other duties and have such other powers as the Board may from time to time prescribe. 
 (f)
Officers as Agents. The Officers, to the extent of their powers set forth in this Agreement or otherwise vested in them by action of the Board not inconsistent with this Agreement, are agents of the Company for the purpose of the
Company’s business and, subject to Section 9(j), the actions of the Officers taken in accordance with such powers shall bind the Company. 
 SECTION 12. Limited Liability. Except as otherwise expressly provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be the
debts, obligations and liabilities solely of the Company, and neither the Member nor the Special Members, if any, nor any Director or Officer shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of
being a Member, Special Member, Director or Officer of the Company. 
 SECTION 13. Capital Contributions. The Member has
made capital contributions to the Company in the form of cash and/or demand notes in connection with the Company’s issuances of Notes. In accordance with Section 5(c), no Special Member shall be required to make any capital
contributions to the Company. 
 SECTION 14. Additional Contributions. The Member is not required to make any additional
capital contribution to the Company. However, the Member may make capital contributions to the Company at any time. The provisions of this Agreement, including this Section 14, are intended solely to benefit the Member and the Special
Members, if any, and, to the fullest extent permitted by law, shall not be construed as conferring any benefit upon any creditor of the Company (and no such creditor of the Company shall be a third-party beneficiary of this Agreement) and the Member
and the Special Members, if any, shall not have any duty or obligation to any creditor of the Company to make any contribution to the Company or to issue any call for capital pursuant to this Agreement. All or any part of additional capital
contributions may be returned to the Member subject to the terms of the Related Documents. 

  
 10 

 SECTION 15. Allocation of Profits and Losses. The Company’s profits and losses
shall be allocated to the Member. 
 SECTION 16. Distributions. Distributions shall be made to the Member at the times
and in the aggregate amounts determined by the Member. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be permitted or required to make a distribution to the Member on account of its interest in the
Company if such distribution would violate the Act or any other applicable law or any Related Document. 

SECTION 17. Books and Records. The Board shall keep or cause to be kept complete and accurate books of account
and records with respect to the Company’s business. The books of the Company shall at all times be maintained by the Board. The Member and its duly authorized representatives shall have the right to examine the Company books, records and
documents during normal business hours. The Company, and the Board on behalf of the Company, shall not have the right to keep confidential from the Member any information that the Board would otherwise be permitted to keep confidential from the
Member pursuant to Section 18-305(c) of the Act. The Company’s books of account shall be kept using the method of accounting determined by the Member. The Company’s independent auditor, if any, shall be an independent public
accounting firm selected by the Member. 
 SECTION 18. Reports. (a) The Board shall cause to be prepared and mailed
to the Member, within 120 days after the end of each fiscal year, an audited or unaudited report setting forth as of the end of such fiscal year: 
 (i) a balance sheet of the Company; 
 (ii) an income statement of the Company for
such fiscal year; and 
 (iii) a statement of the Member’s capital account. 

(b) The Board shall, after the end of each fiscal year, cause to be prepared and transmitted to the Member as promptly as possible any
tax information as may be reasonably necessary to enable the Member to prepare its federal, state and local income tax returns relating to such fiscal year. 
 SECTION 19. Other Business. The Member and any Affiliate of the Member may engage in or possess an interest in other business ventures (unconnected with the Company) of every kind and description,
independently or with others. The Company shall not have any rights in or to such independent ventures or the income or profits therefrom by virtue of this Agreement. 

  
 11 

 SECTION 20. Exculpation and Indemnification, (a) Neither the Member nor the
Special Members, if any, nor any Officer, Director, employee or agent of the Company nor any employee, representative, agent or Affiliate of the Member or the Special Members, if any, (collectively, the “Covered Persons”) shall be
liable to the Company or any other Person who has an interest in or claim against the Company for any loss, damage or claim incurred by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company
and in a manner reasonably believed to be within the scope of the authority conferred on such Covered Person by this Agreement, except that a Covered Person shall be liable for any such loss, damage or claim incurred by reason of such Covered
Person’s gross negligence or willful misconduct. 
 (b) To the fullest extent permitted by applicable law, a Covered Person
shall be entitled to indemnification from the Company for any loss, damage or claim incurred by such Covered Person by reason of any act or omission performed or omitted by such Covered Person in good faith on behalf of the Company and in a manner
reasonably believed to be within the scope of the authority conferred on such Covered Person by this Agreement, except that no Covered Person shall be entitled to be indemnified in respect of any loss, damage or claim incurred by such Covered Person
by reason of such Covered Person’s gross negligence or willful misconduct with respect to such acts or omissions; provided, however, that any indemnity under this Section 20 by the Company shall be provided out of and
to the extent of Company assets only, and neither the Member nor a Special Member, if any, shall not have personal liability on account thereof; and provided further, that so long as any Obligation is outstanding, no indemnity payment
from funds of the Company (as distinct from funds from other sources, such as insurance) of any indemnity under this Section 20 shall be payable from amounts allocable to any other Person pursuant to the Related Documents. 

(c) To the fullest extent permitted by applicable law, expenses (including legal fees) incurred by a Covered Person defending any claim,
demand, action, suit or proceeding shall, from time to time, be advanced by the Company prior to the final disposition of such claim, demand, action, suit or proceeding upon receipt by the Company of an undertaking by or on behalf of the Covered
Person to repay such amount if it shall be determined that the Covered Person is not entitled to be indemnified as authorized in this Section 20; provided, however, that any such advance shall be subordinated to any amounts
payable to any other Person pursuant to the Related Documents. 
 (d) A Covered Person shall be fully protected in relying in
good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any Person as to matters the Covered Person reasonably believes are within such other Person’s professional or
expert competence and who has been selected with reasonable care by or on behalf of the Company, including information, opinions, reports or statements as to the value and amount of the assets, liabilities, or any other facts pertinent to the
existence and amount of assets from which distributions to the Member might properly be paid. 

  
 12 

 (e) To the extent that, at law or in equity, a Covered Person has duties (including
fiduciary duties) and liabilities relating thereto to the Company or to any other Covered Person, a Covered Person acting under this Agreement shall not be liable to the Company or to any other Covered Person for its good faith reliance on the
provisions of this Agreement or any approval or authorization granted by the Company or any other Covered Person. The provisions of this Agreement, to the extent that they restrict the duties and liabilities of a Covered Person otherwise existing at
law or in equity, are agreed by the Member and the Special Members, if any, to replace such other duties and liabilities of such Covered Person. 
 (f) The foregoing provisions of this Section 20 shall survive any termination of this Agreement. 
 SECTION 21. Assignments. The Member may assign in whole or in part its limited liability company interest in the Company so long as the Rating Agency Condition with respect to each Series of Notes
that is rated by a Rating Agency is satisfied. Subject to Section 23, if the Member transfers all of its limited liability company interest in the Company pursuant to this Section 21, the transferee shall be admitted to the
Company as a member of the Company upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. Such admission shall
be deemed effective immediately prior to the transfer and, immediately following such admission, the transferor Member shall cease to be a member of the Company. Notwithstanding anything in this Agreement to the contrary, any successor to the Member
by merger or consolidation shall, without further act, be the Member hereunder, and such merger or consolidation shall not constitute an assignment for purposes of this Agreement and the Company shall continue without dissolution. 

SECTION 22. Resignation. So long as any Obligation is outstanding, the Member may not resign, unless an additional member of the
Company shall be admitted concurrently with or prior to such resignation to the Company, upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart
signature page to this Agreement. Upon its resignation in accordance with the requirements of this Section 22, the resigning Member shall cease to be a member of the Company. 

SECTION 23. Admission of Additional Members. One or more additional members of the Company may be admitted to the Company with the
written consent of the Member; provided, however, that notwithstanding the foregoing, so long as any Obligation remains outstanding, no additional or substitute Member may be admitted to the Company pursuant to Sections 21,
22 or 23 unless the Rating Agency Condition with respect to each Series of Notes that is rated by a Rating Agency is satisfied. 

  
 13 

 SECTION 24. Dissolution. (a) Subject to Section 9(j), the Company
shall be dissolved, and its affairs shall be wound up upon the first to occur of the following: (i) the termination of the legal existence of the last remaining member or the occurrence of any other event which terminates the continued
membership of the last remaining member in the Company unless the Company is continued without dissolution in a manner permitted by this Agreement or the Act or (ii) the entry of a decree of judicial dissolution under Section 18-802 of the
Act. Upon the occurrence of any event that causes the last remaining member of the Company to cease to be a member of the Company or that causes the Member to cease to be a member of the Company (other than upon continuation of the Company without
dissolution upon (i) an assignment by the Member of all of its limited liability company interest in the Company and the admission of the transferee pursuant to Sections 21 and 23, or (ii) the resignation of the Member and
the admission of an additional member of the Company pursuant to Sections 22 and 23), to the fullest extent permitted by law, the personal representative of such member is hereby authorized to, and shall, within 90 days after the
occurrence of the event that terminated the continued membership of such member in the Company, agree in writing (i) to continue the Company and (ii) to the admission of the personal representative or its nominee or designee, as the case
may be, as a substitute member of the Company, effective as of the occurrence of the event that terminated the continued membership of the last remaining member of the Company or the Member in the Company. 

(b) Notwithstanding any other provision of this Agreement, the Bankruptcy of the Member or a Special Member, if any, shall not cause the
Member or any Special Member to cease to be a member of the Company and upon the occurrence of such an event, the Company shall continue without dissolution. 
 (c) Notwithstanding any other provision of this Agreement, each of the Member and Special Members, if any, waives any right it might have to agree in writing to dissolve the Company upon the Bankruptcy of
the Member or any Special Member, or the occurrence of an event that causes the Member or any Special Member to cease to be a member of the Company. 
 (d) In the event of dissolution, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the
assets of the Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act. 
 (e) The Company shall terminate when (i) all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company shall have been distributed to
the Member in the manner provided for in this Agreement and (ii) the Certificate of Formation shall have been canceled in the manner required by the Act. 

  
 14 

 SECTION 25. Waiver of Partition; Nature of Interest. Except as otherwise expressly
provided in this Agreement, to the fullest extent permitted by law, each of the Member and the Special Members, if any, hereby irrevocably waives any right or power that the Member or the Special Members, if any, might have to cause the Company or
any of its assets to be partitioned, to cause the appointment of a receiver for all or any portion of the assets of the Company, to compel any sale of all or any portion of the assets of the Company pursuant to any applicable law or to file a
complaint or to institute any proceeding at law or in equity to cause the dissolution, liquidation, winding up or termination of the Company. The Member shall not have any interest in any specific assets of the Company, and the Member shall not have
the status of a creditor with respect to any distribution pursuant to Section 16 hereof. The interest of the Member in the Company is personal property. 
 SECTION 26. Benefits of Agreement; No Third-Party Rights. None of the provisions of this Agreement shall be for the benefit of or enforceable by any creditor of the Company or by any creditor of
the Member or any Special Member. Nothing in this Agreement shall be deemed to create any right in any Person (other than a Covered Person) not party hereto. 
 SECTION 27. Severability of Provisions. Each provision of this Agreement shall be considered severable and if for any reason any provision or provisions herein are determined to be invalid,
unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement which are valid, enforceable and legal. 

SECTION 28. Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the subject matter
hereof. 
 SECTION 29. Binding Agreement. Notwithstanding any other provision of this Agreement, the Member agrees that
this Agreement, including, without limitation, Sections 7, 8, 9, 10, 20, 21, 22, 23, 24, 26, 29 and 31, constitutes a legal, valid and binding agreement of
the Member, and is enforceable against the Member by the Independent Directors, in accordance with its terms. In addition, the Independent Directors shall be intended beneficiaries of this Agreement. 

SECTION 30. Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware (without
regard to conflict of laws principles), all rights and remedies being governed by said laws. 
 SECTION 31. Amendments.
Subject to Section 9(j), this Agreement may not be modified, altered, supplemented or amended except pursuant to a written agreement executed and delivered by the Member. Notwithstanding anything to the contrary in this Agreement, so
long as any Obligation is outstanding, this Agreement may not be modified, altered, supplemented or amended unless the Rating Agency Condition with respect to each Series of Notes that is rated by a Rating Agency is satisfied except: (i) to
cure any ambiguity or (ii) to convert or supplement any provision in a manner consistent with the intent of this Agreement and the other Related Documents. 

  
 15 

 SECTION 32. Counterparts. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original of this Agreement and all of which together shall constitute one and the same instrument. 
 SECTION 33. Notices. Any notices required to be delivered hereunder shall be in writing and personally delivered, mailed or sent by telecopy, electronic mail or other similar form of rapid
transmission, and shall be deemed to have been duly given upon receipt (a) in the case of the Company, to the Company at its address in Section 2, (b) in the case of the Member, to the Member at its address as listed on
Schedule B attached hereto, and (c) in the case of either of the foregoing, at such other address as may be designated by written notice to the other party. 
 SECTION 34. Tax Matters. (a) For Federal (and to the extent possible state and local) income tax purposes, it is intended that the Company will not be, an association (or publicly traded
partnership) taxable as a corporation and, so long as it has only a single member, that it will be a disregarded entity. The President, or any other officer of the Company, is hereby authorized to file any tax elections necessary to achieve these
results. The Company will not make any election to be treated as an association taxable as a corporation. No transfer of an interest in the Company shall be effective if such transfer would cause a taxable event to holders of Notes. 

(b) The Company shall not issue any Tax Restricted Security if, after such issuance, the maximum number of persons permitted to own all
Tax Restricted Securities outstanding at any time is permitted to exceed ninety (90) within the meaning of United States Treasury Regulation Section 1.7704-1(h), unless the Company has received an opinion of nationally recognized tax
counsel that the issuance of such Tax Restricted Security will not cause the Company to be a publicly traded partnership taxable as a corporation for Federal income tax purposes. The Company shall not permit a direct or indirect assignment,
participation, pledge, hypothecation, rehypothecation, exchange or other disposition or transfer of (each a “Transfer”) of any Tax Restricted Securities if the Transfer of such Tax Restricted Securities would cause the aggregate number of
persons treated as owning all Tax Restricted Securities then outstanding to exceed ninety (90) within the meaning of United States Treasury Regulation Section 1.7704-1(h), unless the Company has received an opinion of nationally recognized
tax counsel that such Transfer will not cause the Company to be a publicly traded partnership taxable as a corporation for Federal income tax purposes. The Company will not participate in any direct or indirect interest in a Tax Restricted Security
being (A) listed on, established on, or included on or in (x) a United States national, regional or local securities exchange, (y) a foreign securities exchange or (z) an interdealer quotation system that regularly disseminates
firm buy or sell quotations by identified brokers or dealers (including, without limitation, the National Association of Securities Dealers Automated Quotation System) ((x), (y) and (z), collectively, an “Exchange”) or
(B) marketed on or through an Exchange. The Company will not recognize any Transfers made on any Exchange with respect to any direct or indirect interest in a Tax Restricted Security (including any Transfers of any financial instrument or
contract the value of which is determined in whole or in part by reference to the Company). The Company shall treat Transfers in violation of this Section 34(b) as null, void and of no effect. 

[Remainder of Page Intentionally Left Blank] 

  
 16 

 IN WITNESS WHEREOF, the undersigned, intending to be legally bound hereby, has duly executed
this Amended and Restated Limited Liability Company Agreement as of the 11th day of May, 2011. 
  

			
	MEMBER:
	
	ZIPCAR, INC.
	
	 /s/ Edward Goldfinger

	Name:	 	Edward Goldfinger
	Title:	 	CFO
	
	INDEPENDENT DIRECTOR/SPECIAL MEMBER:
	
	 /s/ Orlando C. Figueroa

	Name:	 	Orlando C. Figueroa
	
	INDEPENDENT DIRECTOR/SPECIAL MEMBER:
	
	 /s/ Phillip A. Martone

	Name:	 	Phillip A. Martone

  
 17 

 SCHEDULE A 
 Definitions 
 A. Definitions 

When used in this Agreement, the following terms not otherwise defined herein have the following meanings: 

“Act” has the meaning set forth in the preamble to this Agreement. 

“Administration Agreement” means the Amended and Restated Administration Agreement, dated as of May 11, 2011, by
and among Zipcar, as the administrator, the Company and the Trustee, as amended, restated or supplemented or otherwise modified from time to time in accordance with its terms. 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, is in Control of, is Controlled by or is under common Control with such Person or is a
director or officer of such Person. 
 “Agreement” means this Second Amended and Restated Limited Liability
Company Agreement of the Company, together with the schedules attached hereto, as amended, restated or supplemented or otherwise modified from time to time in accordance with its terms. 

“Back-Up Administration Agreement” means the Amended and Restated Back-Up Administration Agreement, dated as of
May 11, 2011 by and among the Administrator, ZVF, the Trustee and Lord Securities Corporation, as back-up administrator (as the same may be amended, modified or supplemented from time to time in accordance with its terms), and any successor
agreement entered into with a successor back-up administrator in accordance with the foregoing agreement and the other Related Documents. 
 “Back-Up Disposition Agent Agreement” means the Amended and Restated Back-Up Disposition Agent Agreement, dated as of May 11, 2011 by and among Fiserv Automotive Solutions, Inc., the
Servicer, ZVF, the Trustee and the Collateral Agent (as the same may be amended, modified or supplemented from time to time in accordance with its terms), and any successor agreement entered into with a successor back-up disposition agent in
accordance with the foregoing agreement and the other Related Documents. 

  
 18 

 “Bankruptcy” means, with respect to any Person, if such Person
(i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency
proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any statute, law or regulation, (v) files an answer or other
pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of
all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any
statute, law or regulation, if the proceeding has not been dismissed, or if within 60 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part
of its properties, the appointment is not vacated or stayed, or within 60 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and
replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act. 

“Board” or “Board of Directors” means the Board of Directors of the Company. 

“Certificate of Formation” means the Certificate of Formation of the Company filed with the Secretary of State of the
State of Delaware on February 4, 2010, as amended or amended and restated from time to time. 
 “Collateral Agency
Agreement” means the Amended and Restated Collateral Agency Agreement, dated as of May 11, 2011, among the Company, as grantor, Zipcar, as servicer, Deutsche Bank Trust Company Americas, as collateral agent and the Trustee, as secured
party, as amended, restated, modified or supplemented from time to time in accordance with its terms. 

“Company” means Zipcar Vehicle Financing LLC, a Delaware limited liability company. 

“Control” means the possession, directly or indirectly, or the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of voting securities or general partnership or managing member interests, by contract or otherwise. “Controlling” and “Controlled” shall have correlative meanings. Without
limiting the generality of the foregoing, a Person shall be deemed to Control any other Person in which it owns, directly or indirectly, a majority of the ownership interests. 
 “Covered Persons” has the meaning set forth in Section 20(a). 
 “Depository Agreement” means, with respect to a Series of Notes having Book-Entry Notes (as defined in the Indenture), the agreement among the Company, the Trustee and the Clearing Agency
(as defined in the Indenture), or as otherwise provided in the applicable Series Supplement. 

  
 19 

 “Directors” means the Persons elected or appointed to the Board of
Directors from time to time by the Member, including the Independent Directors. A Director is hereby designated as a “manager” of the Company within the meaning of Section 18-101(10) of the Act. 

“Enhancement Agreement” means any contract, agreement, instrument or document governing the terms of any Enhancement (as
defined in the Indenture) or pursuant to which any Enhancement is issued or outstanding. 
 “Indenture” means
the Amended and Restated Base Indenture, dated as of May 11, 2011, between the Company and the Trustee, as the same may be amended, restated, modified or supplemented from time to time in accordance with its terms, including by any Series
Supplement. 
 “Independent Director” means a natural person who has at least three years employment experience
with one or more entities that provide, in the ordinary course of their respective businesses, advisory, management or placement services to issuers of securitization or structured finance instruments or securities and who is employed by such an
entity at all times while serving on the Board of Directors of the Company, and is not currently and has not been during the five years prior to his or her appointment as an Independent Director (a) a director, officer, employee, Affiliate,
franchisee, supplier or major customer of Zipcar or any of its Affiliates (other than in his or her capacity as an Independent Director hereunder or with respect to any special purpose vehicle Affiliate), (b) any Person owning beneficially,
directly or indirectly, any outstanding shares of common stock of Zipcar or any of its Affiliates or (c) a director, officer, employee, member or partner or member of the immediate family of, or a Person otherwise owning a direct or indirect
ownership interest in, any Person described in clauses (a) or (b). The term “major customer” shall mean a Person who is a customer of Zipcar or any of Zipcar’s Affiliates and who conducts business with Zipcar or any of its
Affiliates to such a significant extent as would reasonably be expected to influence the decisions of such Person or any Person described in clause (c) with respect to such Person, in any such case, in his or her capacity as a director of
Zipcar or any of its Affiliates (including the Company). 
 “Management Agreement” means the agreement of the
Directors substantially in the form attached hereto as Schedule C. The Management Agreement shall be deemed incorporated into, and a part of, this Agreement. 
 “Material Action” means to consolidate or merge the Company with or into any Person, or sell all or substantially all of the assets of the Company, or to institute proceedings to have the
Company be adjudicated bankrupt or insolvent, or consent to, encourage or cooperate with, the institution of bankruptcy or insolvency proceedings against the Company or file a petition seeking, or consent to, reorganization or relief with respect to
the Company under any applicable federal or state law relating to bankruptcy, or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator (or other similar official) of the Company or a substantial part of its property,
or make any assignment for the benefit of creditors of the Company, or admit in writing the Company’s inability to pay its debts generally as they become due, or take action in furtherance of any such action, or, to the fullest extent permitted
by law, dissolve, terminate or liquidate the Company. 

  
 20 

 “Member” means Zipcar, as the initial member of the Company, and includes
any Person admitted as an additional member of the Company or a substitute member of the Company pursuant to the provisions of this Agreement, each in their capacity as a member of the Company; provided, however, that the term
“Member” shall not include any Special Member. 
 “Notes” means the Indenture Notes (as defined in
the Indenture). 
 “Obligations” shall mean the indebtedness, liabilities and obligations of the Company under
or in connection with this Agreement, the Indenture, the Notes, the other Related Documents or any related document in effect as of any date of determination. 
 “Officer” means an officer of the Company described in Section 11. 
 “Officer’s Certificate” means a certificate signed by any Officer of the Company who is authorized to act for the Company in matters relating to the Company. 

“Operating Lease” means the Amended and Restated Master Motor Vehicle Operating Lease and Servicing Agreement, dated as
of May 11, 2011, between the Company and Zipcar, as lessee and servicer, as the same may be amended, restated, modified or supplemented from time to time in accordance with its terms. 

“Person” means any individual, corporation, partnership, joint venture, limited liability company, limited liability
partnership, association, joint stock company, trust, unincorporated organization, or other organization, whether or not a legal entity, and any governmental authority. 
 “Rating Agency Condition,” with respect to any Series of Notes, has the meaning set forth in the applicable Series Supplement. 

“Related Documents” means, collectively, this Agreement, the Management Agreement, the Operating Lease, the Assignment
Agreements (as defined in the Indenture), the Supplemental Documents (as defined in the Operating Lease), the Indenture, the Notes, the Collateral Agency Agreement, any Enhancement Agreement, the Administration Agreement, the Back-Up Administration
Agreement, the Back-Up Disposition Agent Agreement, the Depository Agreements, any agreements relating to the issuance or the purchase of the Notes of any Series, and all documents, agreements and certificates delivered in connection with any of the
foregoing. 

  
 21 

 “Series” means any series of Notes issued by the Company pursuant to the
Indenture. 
 “Series Supplement” has the meaning ascribed to such term in the Indenture. 

“Special Member” means, upon such person’s admission to the Company as a member of the Company pursuant to
Section 5(c), any person acting as an Independent Director, in such person’s capacity as a member of the Company. A Special Member shall only have the rights and duties expressly set forth in this Agreement. 

“Tax Restricted Securities” means any interest in the Company, including without limitation, limited liability company
interests or any debt security of the Company unless, in the case of any debt security, the Company has received an opinion of nationally recognized tax counsel upon the issuance of such debt security that such debt security will be properly
characterized as debt for U.S. federal income tax purposes. 
 “Trustee” means Deutsche Bank Trust Company
Americas, as trustee under the Indenture, or any successors to the foregoing. 
 “Zipcar” means Zipcar, Inc., a
Delaware corporation, and its successors. 

  
 22 

 B. Rules of Construction 
 Definitions in this Agreement apply equally to both the singular and plural forms of the defined terms. The words “include” and “including” shall be deemed to be followed by the phrase
“without limitation.” The terms “herein,” “hereof and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section, paragraph or subdivision. The Section titles
appear as a matter of convenience only and shall not affect the interpretation of this Agreement. All Section, paragraph, clause, Exhibit or Schedule references not attributed to a particular document shall be references to such parts of this
Agreement. 

  
 23 

 SCHEDULE B 
 Member 
  

							
	 Name
	  	 Mailing Address
	  	 Agreed Value of
	  	 Membership

	Zipcar, Inc.	  	 25 First Street,
 4th
Floor,
 Cambridge, MA 02141
	  	 Demand note in the
 amount of $4,125,000
	  	100%

  
 24 

 SCHEDULE C 
 Management Agreement 

[            ] [    ], 2011 

For good and valuable consideration, each of the undersigned persons, who have been designated as directors of Zipcar Vehicle Financing LLC, a Delaware
limited liability company (the “Company”), in accordance with the Second Amended and Restated Limited Liability Company Agreement of the Company, dated as of May 11, 2011, as it may be amended or restated from time to time (the
“LLC Agreement”), hereby agree as follows: 
 1. Each of the undersigned accepts such person’s rights and
authority as a Director (as defined in the LLC Agreement) under the LLC Agreement and agrees to perform and discharge such person’s duties and obligations as a Director under the LLC Agreement, and further agrees that such rights, authorities,
duties and obligations under the LLC Agreement shall continue until such person’s successor as a Director is elected and qualified or until such person’s resignation or removal as a Director in accordance with the LLC Agreement. Each of
the undersigned agrees and acknowledges that it has been designated as a “manager” of the Company within the meaning of the Delaware Limited Liability Company Act. 
 2. So long as any Obligation (as defined in the LLC Agreement) is outstanding, each of the undersigned agrees, solely in its capacity as a creditor of the Company on account of any indemnification or
other payment owing to the undersigned by the Company, not to acquiesce, petition or otherwise invoke or cause the Company to invoke the process of any court or governmental authority for the purpose of commencing or sustaining a case against the
Company under any federal or state bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Company or any substantial part of the property of the
Company, or ordering the winding up or liquidation of the affairs of the Company. 
 3. THIS MANAGEMENT AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, AND ALL RIGHTS AND REMEDIES SHALL BE GOVERNED BY SUCH LAWS WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. 

This Management Agreement may be executed in any number of counterparts, each of which shall be deemed an original of this Management
Agreement and all of which together shall constitute one and the same instrument. 
 [Remainder of Page Intentionally Left
Blank] 

  
 25 

 IN WITNESS WHEREOF, the undersigned have executed this Management Agreement as of the day
and year first above written. 
  

	
	[                             
                                         
                              ]
	
	[                             
                                         
                              ]
	
	[                             
                                         
                              ]
	
	[                             
                                         
                              ]
	
	[                             
                                         
                              ]

  
 26 

 SCHEDULE D 
  

			
	DIRECTORS
		
	1.	  	Scott Griffith
		
	2.	  	Edward Goldfinger
		
	3.	  	T. S. Ramesh
		
	4.	  	Dean Breda
		
	5.	  	Orlando C. Figueroa, Independent Director
		
	6.	  	Philip J. Martone, Independent Director

  
 27 

 SCHEDULE E 
 OFFICERS 
  

					
	PRESIDENT	 	Scott Griffith	 	
			
	TREASURER	 	Edward Goldfinger	 	
			
	ASSISTANT TREASURER	 	Janet Frick	 	
			
	ASSISTANT SECRETARY	 	Dean Breda	 	

  
 28Amended and Restated Series 2010-1 Purchase Agreement

 Exhibit 10.7 

 
  

 
 AMENDED AND RESTATED SERIES
2010-1 NOTE PURCHASE AGREEMENT 
 (SERIES 2010-1 VARIABLE FUNDING CAR SHARING ASSET BACKED NOTES) 

dated as of May 11, 2011, 
 among 
 ZIPCAR VEHICLE FINANCING LLC, 

ZIPCAR, INC., 
 as
Administrator, Servicer and Lessee 
 CERTAIN CONDUIT INVESTORS, 

each as a Conduit Investor, 
 CERTAIN FINANCIAL INSTITUTIONS, 
 each as a Committed Note Purchaser, 

CERTAIN FUNDING AGENTS, 
 and 
 CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (formerly known as 

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK NEW YORK 
 BRANCH), 
 as Administrative Agent 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	  
			
	 SECTION 1.01
	  	Definitions	  	 	2	  
		
	 ARTICLE II PURCHASE AND SALE OF SERIES 2010-1 NOTES
	  	 	10	  
			
	 SECTION 2.01
	  	The Initial Note Purchase	  	 	10	  
	 SECTION 2.02
	  	Advances	  	 	11	  
	 SECTION 2.03
	  	Borrowing Procedures	  	 	12	  
	 SECTION 2.04
	  	The Series 2010-1 Notes	  	 	13	  
	 SECTION 2.05
	  	Commitment Terms	  	 	13	  
	 SECTION 2.06
	  	Selection of Interest Rates	  	 	14	  
	 SECTION 2.07
	  	Reduction in Series 2010-1 Maximum Principal Amount	  	 	14	  
		
	 ARTICLE III INTEREST AND FEES
	  	 	14	  
			
	 SECTION 3.01
	  	Interest	  	 	14	  
	 SECTION 3.02
	  	Fees	  	 	15	  
	 SECTION 3.03
	  	Eurodollar Lending Unlawful	  	 	15	  
	 SECTION 3.04
	  	Deposits Unavailable	  	 	16	  
	 SECTION 3.05
	  	Increased or Reduced Costs, etc.	  	 	16	  
	 SECTION 3.06
	  	Funding Losses	  	 	17	  
	 SECTION 3.07
	  	Increased Capital Costs	  	 	18	  
	 SECTION 3.08
	  	Taxes	  	 	18	  
	 SECTION 3.09
	  	Indenture Carrying Charges; Survival	  	 	20	  
		
	 ARTICLE IV OTHER PAYMENT TERMS
	  	 	20	  
			
	 SECTION 4.01
	  	Time and Method of Payment	  	 	20	  
		
	 ARTICLE V THE ADMINISTRATIVE AGENT AND THE FUNDING AGENTS
	  	 	20	  
			
	 SECTION 5.01
	  	Authorization and Action of the Administrative Agent	  	 	20	  
	 SECTION 5.02
	  	Delegation of Duties	  	 	21	  
	 SECTION 5.03
	  	Exculpatory Provisions	  	 	21	  
	 SECTION 5.04
	  	Reliance	  	 	22	  
	 SECTION 5.05
	  	Non-Reliance on the Administrative Agent and Other Purchasers	  	 	22	  
	 SECTION 5.06
	  	The Administrative Agent in its Individual Capacity	  	 	22	  
	 SECTION 5.07
	  	Successor Administrative Agent	  	 	23	  
	 SECTION 5.08
	  	Authorization and Action of Funding Agents	  	 	23	  
	 SECTION 5.09
	  	Delegation of Duties	  	 	23	  
	 SECTION 5.10
	  	Exculpatory Provisions	  	 	24	  
	 SECTION 5.11
	  	Reliance	  	 	24	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	Page	 
	 SECTION 5.12
	  	Non-Reliance on the Funding Agent and Other Purchasers	  	 	24	  
	 SECTION 5.13
	  	The Funding Agent in its Individual Capacity	  	 	25	  
	 SECTION 5.14
	  	Successor Funding Agent	  	 	25	  
		
	 ARTICLE VI REPRESENTATIONS AND WARRANTIES
	  	 	25	  
			
	 SECTION 6.01
	  	ZVF	  	 	25	  
	 SECTION 6.02
	  	Zipcar	  	 	26	  
	 SECTION 6.03
	  	Conduit Investors	  	 	27	  
		
	 ARTICLE VII CONDITIONS
	  	 	28	  
			
	 SECTION 7.01
	  	Conditions to Issuance	  	 	28	  
	 SECTION 7.02 
	  	Conditions to Amendment and Restatement	  	 	30	  
	 SECTION 7.03
	  	Conditions to Each Borrowing	  	 	31	  
		
	 ARTICLE VIII COVENANTS
	  	 	32	  
			
	 SECTION 8.01
	  	Covenants	  	 	32	  
	 SECTION 8.02
	  	Additional Covenants	  	 	34	  
		
	 ARTICLE IX MISCELLANEOUS PROVISIONS
	  	 	37	  
			
	 SECTION 9.01
	  	Amendments	  	 	37	  
	 SECTION 9.02
	  	No Waiver; Remedies	  	 	37	  
	 SECTION 9.03
	  	Binding on Successors and Assigns	  	 	38	  
	 SECTION 9.04
	  	Survival of Agreement	  	 	39	  
	 SECTION 9.05
	  	Payment of Costs and Expenses; Indemnification	  	 	39	  
	 SECTION 9.06
	  	Characterization as Related Document; Entire Agreement	  	 	42	  
	 SECTION 9.07
	  	Notices	  	 	43	  
	 SECTION 9.08
	  	Severability of Provisions	  	 	43	  
	 SECTION 9.09
	  	Tax Matters	  	 	43	  
	 SECTION 9.10
	  	No Proceedings; Limited Recourse	  	 	43	  
	 SECTION 9.11
	  	Confidentiality	  	 	45	  
	 SECTION 9.12
	  	Governing Law	  	 	46	  
	 SECTION 9.13
	  	Jurisdiction	  	 	46	  
	 SECTION 9.14
	  	Waiver of Jury Trial	  	 	46	  
	 SECTION 9.15
	  	Counterparts	  	 	47	  
	 SECTION 9.16
	  	Additional Investor Groups	  	 	47	  
	 SECTION 9.17
	  	Assignment	  	 	47	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	 Page

			
	 	  	EXHIBITS	  	 
			
	SCHEDULE I	  	List of Conduit Investors and Committed Note Purchasers	  	
	EXHIBIT A	  	Form of Advance Request	  	
	EXHIBIT B	  	Form of Assignment and Assumption Agreement	  	
	EXHIBIT C	  	Form of Investor Group Supplement	  	
	EXHIBIT D	  	Form of Addendum	  	
	EXHIBIT E	  	Form of Conduit Investor and Committed Note Purchaser Tax Certificate	  	
	EXHIBIT F	  	Quarterly Fleet Report	  	

  
 iii

 AMENDED AND RESTATED SERIES 2010-1 NOTE PURCHASE AGREEMENT 

THIS AMENDED AND RESTATED SERIES 2010-1 NOTE PURCHASE AGREEMENT, dated as of May 11, 2011 (as amended, supplemented, restated or
otherwise modified from time to time in accordance with the terms hereof, this “Agreement”), is made among ZIPCAR VEHICLE FINANCING LLC, a Delaware limited liability company (“ZVF”), ZIPCAR, INC., a Delaware
corporation (“Zipcar”), the several commercial paper conduits listed on Schedule I and their respective permitted successors and assigns, the several financial institutions that serve as committed note purchasers set forth on
Schedule I hereto and the other financial institutions parties hereto pursuant to Section 9.17, the financial institution set forth opposite the name of each Conduit Investor or Non-Conduit Committed Note Purchaser on Schedule
I hereto and its permitted successor and assign (the “Funding Agent” with respect to such Investor Group) and CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (formerly known as CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK NEW
YORK BRANCH), in its capacity as administrative agent for the Conduit Investors, the Committed Note Purchasers and the Funding Agents (the “Administrative Agent”). 

BACKGROUND 
 1.
ZVF, Zipcar, the Conduit Investors, the Committed Note Purchasers, the Funding Agents and the Administrative Agent have previously entered into that certain Class A Note Purchase Agreement, dated as of May 24, 2010 (the “Original Note
Purchase Agreement”). ZVF, as issuer, and Deutsche Bank Trust Company Americas, a New York banking corporation, as trustee (together with its successors in trust thereunder as provided in the Base Indenture referred to below, the
“Trustee”) and as Securities Intermediary, have previously entered into that certain Series 2010-1 Supplement, dated as of May 24, 2010 (the “Original Series 2010-1 Supplement”), to the Base Indenture, dated as
of May 24, 2010 (the “Original Base Indenture”) between ZVF and the Trustee pursuant to which ZVF issued a Series 2010-1 Variable Funding Car Sharing Asset Backed Note to the Funding Agent for the benefit of the Conduit
Investor and the Committed Note Purchaser (the “Initial Series 2010-1 Notes” and together with any Additional Series 2010-1 Notes, the “Series 2010-1 Notes”). 

2. Section 9.01 of the Original Note Purchase Agreement permits ZVF, Zipcar, the Administrator, each Conduit Investor and each
Committed Note Purchaser to amend the Original Note Purchase Agreement. Such parties intend to change certain terms of the financing facility and amend and restate the Original Note Purchase Agreement in its entirety, as set forth herein.

 3. Contemporaneously with the execution and delivery of this Agreement, ZVF and the Trustee have entered into the Amended and
Restated Base Indenture, dated as of May 11, 2011 (as the same may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms thereof, the “Base Indenture”) and the Amended and
Restated Series 2010-1 Supplement thereto, of even date therewith (as the same may be further amended, supplemented, restated or otherwise modified from time to time in accordance with the terms thereof, the “Series 2010-1
Supplement” and, together with the Base Indenture, the “Indenture”). 

 4. ZVF wishes to amend the Series 2010-1 Notes as set forth in the Series 2010-1 Supplement
and obtain the agreement of the Purchasers to make loans from time to time (each, an “Advance”) as consideration for the purchase of Series 2010-1 Principal Amounts, all of which Advances (including the Initial Advance) will
constitute Increases, and all of which Advances (including the Initial Advance) will be evidenced by the Series 2010-1 Notes purchased in connection herewith and will constitute purchases of Series 2010-1 Principal Amounts corresponding to the
amount of such Advances. Subject to the terms and conditions of this Agreement, each Conduit Investor may make Advances from time to time and each Committed Note Purchaser is willing to commit to make Advances from time to time, as consideration for
purchases of Series 2010-1 Principal Amounts in an aggregate outstanding amount up to the Maximum Investor Group Principal Amount for the related Investor Group until the commencement of the Series 2010-1 Rapid Amortization Period. Zipcar has joined
in this Agreement to confirm certain representations, warranties and covenants made by it for the benefit of each Conduit Investor and each Committed Note Purchaser. 
 ARTICLE I 
 DEFINITIONS 

SECTION 1.01 Definitions. As used in this Agreement and unless the context requires a different meaning, capitalized
terms used but not defined herein (including the preamble and the recitals hereto) shall have the meanings assigned to such terms in Article 1 of the Series 2010-1 Supplement or, if not defined therein, the meanings assigned to such terms in the
Definitions List attached to the Base Indenture as Schedule I, as applicable. For the avoidance of doubt, to the extent any capitalized term defined herein also has a meaning assigned to such term in the Definitions List attached to the Base
Indenture, the meaning given to such term herein shall apply. In addition, the following terms shall have the following meanings and the definitions of such terms are applicable to the singular as well as the plural form of such terms and to the
masculine as well as the feminine and neuter genders of such terms: 
 “Acquiring Committed Note Purchaser” has
the meaning set forth in Section 9.17(a). 
 “Acquiring Investor Group” has the meaning set forth
in Section 9.17(c). 
 “Addendum” means an Addendum substantially in the form of Exhibit D.

 “Additional Investor Group” means, (x) collectively, a Conduit Investor and the Conduit Committed Note
Purchaser(s) with respect to such Conduit Investor or, (y) a Non-Conduit Committed Note Purchaser, in each case, that becomes party hereto as of any date after the Series 2010-1 Closing Date pursuant to Section 9.16 in connection
with an increase in the Series 2010-1 Maximum Principal Amount; provided that, for the avoidance of doubt, an Investor Group that is both an Additional Investor Group and an Acquiring Investor Group shall be deemed to be an Additional
Investor Group solely in connection with, and to the extent of, the commitment of such Investor Group that increases the Series 2010-1 Maximum Principal Amount when such Additional Investor Group becomes a party hereto and Additional Series 2010-1
Notes are issued pursuant to Sections 2.1 and 5.1 of the Series 2010-1 Supplement, and references herein to such an Investor Group as an “Additional Investor Group” shall not include the commitment of such Investor Group as an Acquiring
Investor Group. 

  
 2 

 “Additional Investor Group Initial Principal Amount” means, with respect to
each Additional Investor Group on the date such Additional Investor Group becomes a party hereto, the initial principal amount on such date of the Series 2010-1 Notes issued to such Additional Investor Group, which shall be an amount equal to such
Additional Investor Group’s Commitment Percentage of the principal amount of outstanding Series 2010-1 Notes as of such date (after giving effect to the issuance of any Series 2010-1 Notes on such date). 

“Advance” has the meaning set forth in paragraph 4 of the recitals hereto. 

“Advance Request” has the meaning set forth in Section 7.03(c). 

“Affected Person” has the meaning set forth in Section 3.05. 

“Assignment and Assumption Agreement” means an Assignment and Assumption Agreement substantially in the form of
Exhibit B. 
 “Borrowing” has the meaning set forth in Section 2.02(c). 

“Borrowing Deficit” has the meaning set forth in Section 2.03(b). 

“Change in Law” means (a) any law, rule or regulation or any change therein or in the interpretation or application
thereof (whether or not having the force of law), in each case, adopted, issued or occurring after the Series 2010-1 Closing Date or (b) any request, guideline or directive (whether or not having the force of law) from any government or
political subdivision or agency, authority, bureau, central bank, commission, department or instrumentality thereof, or any court, tribunal, grand jury or arbitrator, or any accounting board or authority (whether or not part of government) which is
responsible for the establishment or interpretation of national or international accounting principles, in each case, whether foreign or domestic (each an “Official Body”) charged with the administration, interpretation or
application thereof, or the compliance with any request or directive of any Official Body (whether or not having the force of law) made, issued or occurring after the Series 2010-1 Closing Date. 

“Commitment” means, the obligation of the Committed Note Purchasers included in each Investor Group to fund Advances
pursuant to Section 2.02(a) in an aggregate stated amount up to the Maximum Investor Group Principal Amount for such Investor Group. 

  
 3 

 “Commitment Percentage” means, on any date of determination with respect to
any Investor Group, the ratio, expressed as a percentage, which such Investor Group’s Maximum Investor Group Principal Amount bears to the Series 2010-1 Maximum Principal Amount on such date. 

“Committed Note Purchaser” means, collectively, the Conduit Committed Note Purchasers and Non-Conduit Committed Note
Purchasers. 
 “Conduit Committed Note Purchaser Percentage” means, with respect to any Conduit Committed Note
Purchaser, the percentage set forth opposite the name of such Conduit Committed Note Purchaser on Schedule I. 

“Conduit Assignee” means, with respect to any Conduit Investor, any commercial paper conduit, whose commercial paper has
ratings of at least “A-2” from Standard & Poor’s and “P2” from Moody’s, that is administered by the Funding Agent with respect to such Conduit Investor or any Affiliate of such Funding Agent, in each case,
designated by such Funding Agent to accept an assignment from such Conduit Investor of the Investor Group Principal Amount or a portion thereof with respect to such Conduit Investor pursuant to Section 9.17(b). 

“Conduit Committed Note Purchaser” means, with respect to a Conduit Investor, each Purchaser identified as a Conduit
Committed Note Purchaser for such Conduit Investor on the signature pages hereto, or in the Assignment and Assumption Agreement, Investor Group Supplement or Addendum pursuant to which such Purchaser became a party hereto. 

“Conduit Investors” means any Purchaser which is designated as a Conduit Investor on the signature pages hereto, or in
the Investor Group Supplement or Addendum pursuant to which such Purchaser became a party hereto. 
 “Confidential
Information” for purposes of this Agreement, has the meaning set forth in Section 9.11. 
 “CP
Rate” means, with respect to each Conduit Investor (i) for any day during any Series 2010-1 Interest Period funded by a Conduit Investor set forth in Schedule I hereto or any other Conduit Investor that elects in its Investor
Group Supplement or Addendum to make this clause (i) applicable (collectively, the “Conduits”), the per annum rate equivalent to the weighted average of the per annum rates paid or payable by such Conduits from time to
time as interest on or otherwise (by means of interest rate hedges or otherwise taking into consideration any incremental carrying costs associated with short term promissory notes issued by such Conduits maturing on dates other than those certain
dates on which such Conduits are to receive funds) in respect of the promissory notes issued by such Conduits that are allocated in whole or in part by their respective Funding Agent (on behalf of such Conduits) to fund or maintain the Series 2010-1
Principal Amount or that are issued by such Conduits specifically to fund or maintain the Series 2010-1 Principal Amount, in each case, during such period, as determined by their respective Funding Agent (on behalf of such Conduits), including
(x) the commissions of placement agents and dealers in respect of such promissory notes, to the extent such commissions are allocated, in whole or in part, to such promissory notes by the related Committed Note Purchasers (on behalf of such
Conduits), (y) all reasonable costs and expenses of any issuing and paying agent or other person responsible for the administration of such Conduits’ commercial paper programs in connection with the preparation, completion, issuance,
delivery or payment of Series 2010-1 Commercial Paper, and (z) the costs of other borrowings by such Conduits including, without limitation, borrowings to fund small or odd dollar amounts that are not easily accommodated in the commercial paper
market; provided, however, that if any component of such rate is a discount rate, in calculating the CP Rate, the respective Funding Agent for such Conduits shall for such component use the rate resulting from converting such discount
rate to an interest bearing equivalent rate per annum and (ii) for any Series 2010-1 Interest Period for any portion of the Commitment of the related Investor Group funded by any other Conduit Investor, the “CP Rate” applicable to
such Conduit Investor as set forth in its Investor Group Supplement or Addendum. 

  
 4 

 “Eurodollar Advance” means, an Advance which bears interest at all times
during the Eurodollar Interest Period applicable thereto at a fixed rate of interest determined by reference to the Eurodollar Rate (Reserve Adjusted). 
 “Eurodollar Interest Period” means, with respect to any Eurodollar Advance, (a) initially, the period commencing on and including the date of such Eurodollar Advance and ending on
but excluding the next Payment Date and (b) for each period thereafter, the period commencing on and including the Payment Date on which the immediately preceeding Eurodollar Interest Period ended and ending on but excluding the next Payment
Date; provided, however, that 
  

	 	(i)	no Eurodollar Interest Period may end subsequent to the Series 2010-1 Expected Final Payment Date; and 

 

	 	(ii)	upon the occurrence and during the continuation of the Series 2010-1 Rapid Amortization Period, any Eurodollar Interest Period may be terminated at the election of the
related Funding Agent by notice to ZVF and the Administrator, and upon such election the Eurodollar Advances in respect of which interest was calculated by reference to such terminated Eurodollar Interest Period shall, solely at the option of such
Funding Agent, either be converted to Series 2010-1 Base Rate Tranches or included in the Series 2010-1 CP Tranche until payment in full of the Series 2010-1 Notes. 

“Eurodollar Rate” means, with respect to any Investor Group, the rate per annum determined by the related Funding Agent
at approximately 11:00 a.m. (London time) on the date which is one (1) London Business Day prior to the beginning of the relevant Eurodollar Interest Period by reference to the British Bankers’ Association Interest Settlement Rates for
deposits in Dollars (as set forth by any service selected by such Funding Agent which has been nominated by the British Bankers’ Association as an authorized information vendor for the purpose of displaying such rates) for a period equal to
such Eurodollar Interest Period; provided that, to the extent that an interest rate is not ascertainable pursuant to the foregoing provision of this definition, the “Eurodollar Rate” shall be the interest rate per annum determined
by such Funding Agent to be the rate per annum at which deposits in Dollars are offered by such Funding Agent’s Reference Lender in London to prime banks in the London interbank market at or about 11:00 a.m. (London time) one (1) London
Business Day before the first day of such Eurodollar Interest Period in an amount substantially equal to the amount of the Eurodollar Advances to be outstanding during such Eurodollar Interest Period and for a period equal to such Eurodollar
Interest Period. In respect of any Eurodollar Interest Period which is not thirty (30) days in duration, the Eurodollar Rate shall be determined through the use of straight-line interpolation by reference to two rates calculated in accordance
with the preceding sentence, one of which shall be determined as if the maturity of the Dollar deposits referred to therein were the period of time for which rates are available next shorter than the Eurodollar Interest Period and the other of which
shall be determined as if such maturity were the period of time for which rates are available next longer than the Eurodollar Interest Period; provided that, if a Eurodollar Interest Period is less than or equal to seven days, the Eurodollar
Rate shall be determined by reference to a rate calculated in accordance with the preceding sentence as if the maturity of the Dollar deposits referred to therein were a period of time equal to seven days. 

  
 5 

 “Eurodollar Rate (Reserve Adjusted)” means, with respect to any Investor
Group for any Eurodollar Interest Period, an interest rate per annum (rounded upward to the nearest 1/100th of 1%) determined pursuant to the following formula: 
  

					
	Eurodollar Rate =	  	                Eurodollar
Rate                	  	
	(Reserve Adjusted)	  	1.00 – Eurodollar Reserve Percentage	  	

 The Eurodollar Rate (Reserve Adjusted) for any Eurodollar Interest Period for Eurodollar Advances will be
determined by each Funding Agent on the basis of the Eurodollar Reserve Percentage in effect one (1) Business Day before the first day of such Eurodollar Interest Period. 
 Notwithstanding the foregoing, the Eurodollar Rate (Reserve Adjusted) with respect to any Eurodollar Advance assigned by a Conduit Investor pursuant to Section 2.06(ii), shall equal the Series
2010-1 Base Rate with respect to the Investor Group of which such Conduit Investor is a member until the second London Business Day following such assignment after which the Eurodollar Rate (Reserve Adjusted) for such Eurodollar Advance shall be
determined as set forth above. 
 “Eurodollar Reserve Percentage” means, for any Eurodollar Interest Period,
the reserve percentage (expressed as a decimal) equal to the maximum aggregate reserve requirements (including all basic, emergency, supplemental, marginal and other reserves and taking into account any transitional adjustments or other scheduled
changes in reserve requirements) specified under regulations issued from time to time by the F.R.S. Board and then applicable to assets or liabilities consisting of and including “Eurocurrency Liabilities,” as currently defined in
Regulation D of the F.R.S. Board, having a term approximately equal or comparable to such Eurodollar Interest Period. 

  
 6 

 “Federal Funds Rate” means, with respect to any Investor Group for any day,
the rate per annum equal to the weighted average of the overnight federal funds rates as published on such day in Federal Reserve Board Statistical Release H.15(519) or any successor or substitute publication selected by the related Funding Agent
(or, if such day is not a Business Day, for the next preceding Business Day), or, if, for any reason, such rate is not so published, the rate determined, in the sole opinion of such Funding Agent, to be the rate at which overnight federal funds are
being offered in the national federal funds market at 9:00 a.m. New York City time. 
 “Fee Letter” means that
certain fee letter, dated as of the date hereof, by and between the Administrative Agent and ZVF setting forth, among other things, the definition of Program Fee Rate and the definition of Undrawn Fee. 

“Financial Statements” has the meaning set forth in Section 6.02(b). 

“Increase Date” shall mean the Business Day on which an Increase in the Series 2010-1 Principal Amount occurs.

 “Initial Advance” means the first Advances made under this Agreement on or following the Series 2010-1
Closing Date as part of the initial Borrowings. 
 “Investor Group” means, (i) (x) collectively, a
Conduit Investor and the Conduit Committed Note Purchaser(s) with respect to such Conduit Investor or (y) a Non-Conduit Committed Note Purchaser(s), in each case, party hereto as of the Series 2010-1 Closing Date and (ii) any Additional
Investor Group. 
 “Investor Group Increase Amount” means, with respect to any Investor Group on any Increase
Date, such Investor Group’s Commitment Percentage of the amount of the Increase on such Business Day. 
 “Investor
Group Principal Amount” means, (a) with respect to any Investor Group other than an Additional Investor Group, (i) when used with respect to the Restatement Effective Date, such Investor Group’s Commitment Percentage of the
Series 2010-1 Initial Principal Amount and (ii) when used with respect to any other date, an amount equal to (w) the Investor Group Principal Amount with respect to such Investor Group on the immediately preceding Business Day plus
(x) any Investor Group Increase Amount with respect to such Investor Group on such date minus (y) the amount of principal payments made to such Investor Group pursuant to the Series 2010-1 Supplement on such date plus
(z) the amount of principal payments recovered from such Investor Group by a trustee as a preference payment in a bankruptcy proceeding of the Issuer or otherwise rescinded or returned for any reason on such date and (b) with respect to
any Additional Investor Group, (i) when used with respect to the date such Additional Investor Group becomes a party hereto, such Additional Investor Group’s Additional Investor Group Initial Principal Amount and (ii) when used with
respect to any other date, an amount equal to (w) the Investor Group Principal Amount with respect to such Additional Investor Group on the immediately preceding Business Day plus (x) any Investor Group Increase Amount with respect
to such Additional Investor Group on such date minus (y) the amount of principal payments made to such Investor Group pursuant to the Series 2010-1 Supplement on such date plus (z) the amount of principal payments recovered
from such Additional Investor Group by a trustee as a preference payment in a bankruptcy proceeding of the Issuer or otherwise rescinded or returned for any reason on such date. 

  
 7 

 “Investor Group Supplement” means an Investor Group Supplement
substantially in the form of Exhibit C. 
 “London Business Day” means any day other than a Saturday,
Sunday or other day on which banks are authorized or required to be closed in London, United Kingdom. 
 “Majority
Program Support Providers” means with respect to any Investor Group, Program Support Providers with respect to the members of such Investor Group holding more than 50% of the aggregate commitments of all such Program Support Providers.

 “Margin Stock” means “margin stock” as defined in Regulation U of the Board of Governors of the
Federal Reserve System, as amended from time to time. 
 “Maximum Investor Group Principal Amount” means, with
respect to each Investor Group, the aggregate amounts set forth opposite the name of the Committed Note Purchasers included in such Investor Group on Schedule I hereto, as such amount may be increased or modified from time to time by
written agreement among the Committed Note Purchasers included in such Investor Group, the Administrator and ZVF in accordance with the terms hereof; provided that, on any day after the occurrence and during the continuance of an Amortization
Event with respect to the Series 2010-1 Notes, the Maximum Investor Group Principal Amount with respect to each Investor Group shall equal the Investor Group Principal Amount for such Investor Group on such date (after giving effect to all principal
payments made to such Investor Group pursuant to the Series 2010-1 Supplement on such date). 
 “Non-Conduit Committed
Note Purchaser” means each Purchaser designated as a Non-Conduit Committed Note Purchaser on the signature pages hereto, or in the Assignment and Assumption Agreement, Investor Group Supplement or Addendum pursuant to which such Purchaser
became a party hereto. 
 “Prime Rate” means, with respect to any Investor Group, the rate announced by the
applicable Reference Lender from time to time as its prime rate in the United States, such rate to change as and when such designated rate changes. The Prime Rate is not intended to be the lowest rate of interest charged by such Reference Lender in
connection with extensions of credit to debtors. 
 “Program Fee” has the meaning set forth in
Section 3.02(a). 

  
 8 

 “Program Fee Rate” has the meaning set forth in the Fee Letter. 

“Program Support Agreement” means any agreement entered into by any Program Support Provider in respect of any Series
2010-1 Commercial Paper and/or Series 2010-1 Note providing for the issuance of one or more letters of credit for the account of a Committed Note Purchaser or a Conduit Investor, the issuance of one or more insurance policies for which a Committed
Note Purchaser or a Conduit Investor is obligated to reimburse the applicable Program Support Provider for any drawings thereunder, the sale by a Committed Note Purchaser or a Conduit Investor to any Program Support Provider of the Series 2010-1
Notes (or portions thereof or interests therein) and/or the making of loans and/or other extensions of credit to a Committed Note Purchaser or a Conduit Investor in connection with such Conduit Investor’s securitization program, together with
any letter of credit, insurance policy or other instrument issued thereunder or guaranty thereof (but excluding any discretionary advance facility provided by a Committed Note Purchaser). 

“Program Support Provider” means and includes any Person now or hereafter extending credit or having a commitment to
extend credit to or for the account of, and/or agreeing to make purchases from, a Committed Note Purchaser or a Conduit Investor in respect of such Committed Note Purchaser’s or Conduit Investor’s Series 2010-1 Commercial Paper and/or
Series 2010-1 Note, and/or agreeing to issue a letter of credit or insurance policy or other instrument to support any obligations arising under or in connection with such Conduit Investor’s securitization program as it relates to any Series
2010-1 Commercial Paper issued by such Conduit Investor, in each case pursuant to a Program Support Agreement, and any guarantor of any such person. 
 “Purchaser” means, collectively, the Conduit Investors and the Committed Note Purchasers. 
 “Reference Lender” means, with respect to any Investor Group, the related Funding Agent or, if such Funding Agent does not have a prime rate, an Affiliate thereof designated by such
Funding Agent. 
 “Regulation S”: Regulation S under the Securities Act. 

“Series 2010-1 Base Rate” means, with respect to any Investor Group on any day, a rate per annum equal to the greater of
(a) the Prime Rate with respect to such Investor Group in effect on such day and (b) the Federal Funds Rate with respect to such Investor Group in effect on such day. Any change in the Series 2010-1 Base Rate due to a change in the Prime
Rate or the Federal Funds Rate shall be effective as of the opening of business on the effective day of such change in the Prime Rate or the Federal Funds Rate, respectively. Changes in the rate of interest on that portion of any Advances maintained
as Series 2010-1 Base Rate Tranches will take effect simultaneously with each change in the Series 2010-1 Base Rate. 

“Series 2010-1 Commitment Termination Date” means May 9, 2012 or such earlier or later date as the parties hereto
may agree in writing. 

  
 9 

 “Series 2010-1 Obligations” has the meaning set forth in
Section 5.01. 
 “Series 2010-1 Related Documents” means the Related Documents relating to the
Series 2010-1 Notes; provided that, for the avoidance of doubt, (i) any Related Document that relates solely to a Series of Notes other than the Series 2010-1 Notes shall not be a Series 2010-1 Related Document, (ii) any Related
Document that relates to the Series 2010-1 Notes and other Series of Notes shall be a Series 2010-1 Related Document and (iii) any Related Document that relates solely to any Segregated Series of Notes shall not be a Series 2010-1 Related
Document. 
 “Series 2010-1 Supplement” has the meaning set forth in paragraph 3 of the recitals hereto.

 “Taxes” has the meaning set forth in Section 3.08. 

“Term” has the meaning set forth in Section 2.05. 

“Undrawn Fee” has the meaning set forth in Section 3.02(b). 

“Undrawn Fee Rate” has the meaning set forth in the Fee Letter. 

“Up-Front Fee” has the meaning set forth in the Fee Letter. 

“Weighted Average CP Rate” means, with respect to any Series 2010-1 Interest Period, the weighted average of the CP
Rates applicable to each Advance funded or maintained during such Series 2010-1 Interest Period through the issuance of Series 2010-1 Commercial Paper. 
 ARTICLE II 
 PURCHASE AND SALE OF SERIES 2010-1 NOTES 

SECTION 2.01 The Initial Note Purchase. On the terms and conditions set forth in the Indenture and this Agreement, and
in reliance on the covenants, representations and agreements set forth herein and therein, ZVF issued the Initial Series 2010-1 Notes on the Series 2010-1 Closing Date. Such Initial Series 2010-1 Notes for each Investor Group were dated the Series
2010-1 Closing Date, registered in the name of the respective Funding Agent, as agent for the related Conduit Investor, if any, and the Committed Note Purchaser(s), or in such other name as the respective Funding Agent may request, and were duly
authenticated in accordance with the provisions of the Indenture. ZVF, the Trustee and the Purchasers will amend such Initial Series 2010-1 Notes on the Restatement Effective Date in accordance with the terms set forth in the Series 2010-1
Supplement which such Series 2010-1 Notes will be registered in the name of the respective Funding Agent, as agent for the related Conduit Investor, if any, and the Committed Note Purchaser(s), or in such other name as the respective Funding Agent
may request, and will be duly authenticated in accordance with the provisions of the Indenture. 

  
 10 

 SECTION 2.02 Advances. 

(a) Subject to the terms and conditions of this Agreement and the Series 2010-1 Supplement on any date prior to the Series 2010-1
Commitment Termination Date, (x) each Conduit Investor may and, if any such Conduit Investor determines that it will not make an Advance or any portion of an Advance, its related Conduit Committed Note Purchaser(s) shall to the extent such
Conduit Investor does not make such Advance and (y) each Non-Conduit Committed Note Purchaser shall, in each case, upon ZVF’s request delivered in accordance with the provisions of Section 2.03 and upon the satisfaction of all
conditions precedent thereto, make Advances from time to time during the Series 2010-1 Revolving Period; provided, that (i) such Advances shall be made ratably by each Conduit Investor (or its related Conduit Committed Note Purchaser or
Conduit Committed Note Purchasers collectively, as the case may be) and Non-Conduit Committed Note Purchaser based on the respective Commitment Percentage of its Investor Group and (ii) the portion of any such Advance made by a Conduit
Committed Note Purchaser shall be based on its Conduit Committed Note Purchaser Percentage of the Commitment Percentage with respect to the related Investor Group; provided, further that no Advance shall be required or permitted to be
made on any date if, after giving effect to such Advance, (i) the Investor Group Principal Amount with respect to any Investor Group would exceed the Maximum Investor Group Principal Amount with respect to such Investor Group, (ii) the
Series 2010-1 Principal Amount would exceed the Series 2010-1 Maximum Principal Amount, (iii) a Series 2010-1 Enhancement Deficiency or an Aggregate Asset Amount Deficiency exists or would exist as a result of such Advance, or (iv) an
Amortization Event, Potential Amortization Event, Liquidation Event of Default or Limited Liquidation Event of Default, in each case, with respect to the Series 2010-1 Notes exists or would exist as a result of such Advance. If a Conduit Investor
elects not to fund the full amount of its Commitment Percentage of the Initial Advance (or, in the case of a Conduit Investor in an Additional Investor Group, the Additional Investor Group Initial Principal Amount with respect to such Additional
Investor Group) or a requested Increase, such Conduit Investor shall notify the Administrative Agent and the Funding Agent with respect to such Conduit Investor, and each Conduit Committed Note Purchaser with respect to such Conduit Investor shall
fund its Conduit Committed Note Purchaser Percentage of the portion of the Commitment Percentage with respect to such Investor Group of the Initial Advance (or, in the case of a Conduit Committed Note Purchaser in an Additional Investor Group, the
applicable portion of the Additional Investor Group Initial Principal Amount with respect to such Additional Investor Group) or such Increase, as the case may be, not funded by such Conduit Investor, subject to the terms described above. 

(b) Subject to Section 9.10(b), each Conduit Investor hereby agrees with respect to itself that it will use commercially
reasonable efforts to fund Advances made by its Investor Group through the issuance of Series 2010-1 Commercial Paper; provided, that (i) no Conduit Investor will have any obligation to use commercially reasonable efforts to fund
Advances made by its Investor Group through the issuance of Series 2010-1 Commercial Paper at any time (x) an Amortization Event has occurred and is continuing (other than any Amortization Event relating solely to any Segregated Series of
Notes) or (y) the funding of such Advance through the issuance of Series 2010-1 Commercial Paper would be prohibited by the program documents governing such Conduit Investor’s commercial paper program, (ii) nothing herein is (or shall
be construed) as a commitment by any Conduit Investor to fund any Advance through the issuance of Series 2010-1 Commercial Paper, and (iii) notwithstanding anything herein or in any other Related Document to the contrary, at no time will a
Conduit Investor that is not also a Committed Note Purchaser be obligated to make Advances hereunder. 

  
 11 

 (c) The proceeds of all Advances on any date shall be allocated according to the provisions
of Article III of the Series 2010-1 Supplement. Each of the Advances to be made on any date shall be made singly as part of a single borrowing (each such single borrowing being a “Borrowing”). Subject to the terms of this Agreement
and the Series 2010-1 Supplement, the aggregate principal amount of the Advances represented by the Series 2010-1 Notes may be increased or decreased from time to time. 
 SECTION 2.03 Borrowing Procedures. 
 (a) If ZVF wishes the Conduit
Investors and the Non-Conduit Committed Note Purchasers to make an Advance, ZVF shall (or shall cause the Administrator to) notify the Administrative Agent, each Funding Agent and the Trustee upon irrevocable written notice delivered to the
Administrative Agent and each Funding Agent (with a copy of such notice delivered to the Committed Note Purchasers) no later than 11:30 a.m. New York City time on the second Business Day (or, if such Business Day is not also a London Business Day,
on the next preceding Business Day that is also a London Business Day) prior to the proposed Borrowing (which Borrowing date shall be an Increase Date); provided that no more than three Borrowings shall occur during any calendar week. Each
such notice shall be irrevocable and shall in each case refer to this Agreement and specify the aggregate amount of the requested Borrowing to be made on such date. ZVF shall (or shall cause the Administrator to) ratably allocate the proposed
Borrowing among the Investor Groups’ respective Investor Group Principal Amounts. Each Funding Agent shall promptly advise its related Conduit Investor or its related Non-Conduit Committed Note Purchaser, of any notice given pursuant to this
Section and, if there is a Conduit Investor with respect to any Investor Group, shall promptly thereafter (but in no event later than 11:00 a.m. New York City time on the proposed date of Borrowing), notify ZVF and the related Conduit Committed Note
Purchaser(s), whether such Conduit Investor has determined to make such Advance. On the date of each Borrowing and subject to the other conditions set forth herein and in the Series 2010-1 Supplement, each Conduit Investor or its related Conduit
Committed Note Purchaser(s), as the case may be, and each Non-Conduit Committed Note Purchaser, shall make available to ZVF the amount of such Advance by wire transfer in U.S. dollars of such amount in same day funds to the Series 2010-1 Collection
Account no later than 2:00 p.m. (New York time) on the date of such Borrowing. 

  
 12 

 (b) If, by 2:00 p.m. (New York time) on the date of any Borrowing, one or more Conduit
Committed Note Purchasers in an Investor Group (each, a “Defaulting Conduit Committed Note Purchaser,” and each Conduit Committed Note Purchaser in the related Investor Group other than any Defaulting Conduit Committed Note
Purchaser being referred to as a “Non-Defaulting Conduit Committed Note Purchaser”) fails to make its ratable portion of any Borrowing available to ZVF pursuant to Section 2.03(a) (the amount unavailable to ZVF as a
result of such failure with respect to such Investor Group being herein called a “Borrowing Deficit”), then the Funding Agent for such Investor Group shall, by no later than 2:30 p.m. (New York City time) on the applicable date of
such Borrowing instruct each Non-Defaulting Conduit Committed Note Purchaser in the same Investor Group as the Defaulting Conduit Committed Note Purchaser to pay, by no later than 3:00 p.m. (New York time), in immediately available funds, to the
Series 2010-1 Collection Account, an amount equal to the lesser of (i) such Non-Defaulting Conduit Committed Note Purchaser’s proportionate share (based upon the relative Conduit Committed Note Purchaser Percentages of such Non-Defaulting
Conduit Committed Note Purchasers) of the Borrowing Deficit with respect to such Investor Group and (ii) such Non-Defaulting Conduit Committed Note Purchaser’s Conduit Committed Note Purchaser Percentage of the amount by which the Maximum
Investor Group Investor Amount for such Investor Group exceeds the Investor Group Principal Amount for such Investor Group (determined after giving effect to any Advances already made by such Investor Group on such date). A Defaulting Conduit
Committed Note Purchaser shall forthwith, upon demand, pay to the applicable Funding Agent for the ratable benefit of the Non-Defaulting Conduit Committed Note Purchasers all amounts paid by each such Non-Defaulting Conduit Committed Note Purchaser
on behalf of such Defaulting Conduit Committed Note Purchaser, together with interest thereon, for each day from the date a payment was made by a Non-Defaulting Conduit Committed Note Purchaser until the date such Non-Defaulting Conduit Committed
Note Purchaser has been paid such amounts in full, at a rate per annum equal to the sum of the Series 2010-1 Base Rate plus 1% per annum. 
 SECTION 2.04 The Series 2010-1 Notes. On each date an Advance is funded under the Series 2010-1 Notes pursuant to this Agreement and the Series 2010-1 Supplement, and on each date the
amount of outstanding Advances thereunder is reduced, a duly authorized officer, employee or agent of the related Funding Agent shall make appropriate notations in its books and records of the amount of such Advance and the amount of such reduction,
as applicable. ZVF hereby authorizes each duly authorized officer, employee and agent of such Funding Agent to make such notations on the books and records as aforesaid and every such notation made in accordance with the foregoing authority shall be
prima facie evidence of the accuracy of the information so recorded and shall be binding on ZVF absent manifest error; provided, however, that in the event of a discrepancy between the books and records of such Funding Agent and
the records maintained by the Trustee pursuant to the Indenture, such discrepancy shall be resolved by such Funding Agent, the Administrative Agent and the Trustee. 
 SECTION 2.05 Commitment Terms. The “Term” of the Commitment hereunder shall be for a period commencing on the Series 2010-1 Closing Date and ending on the Series 2010-1
Commitment Termination Date. 

  
 13 

 SECTION 2.06 Selection of Interest Rates. Following (i) the funding of
any Advances by a Committed Note Purchaser or (ii) any assignment by a Conduit Investor to its related liquidity provider(s) or related credit provider(s) pursuant to the applicable liquidity purchase agreement or liquidity loan agreement with
respect to the Series 2010-1 Notes or to its related Conduit Committed Note Purchaser hereunder, in each case the Advances funded, directly or indirectly, with amounts received from any such provider or Committed Note Purchaser will be made as
Eurodollar Advances; provided that if any such Conduit Committed Note Purchaser is funding Advances through the issuance of Series 2010-1 Commercial Paper, such Advances shall bear interest at the CP Rate. 

SECTION 2.07 Reduction in Series 2010-1 Maximum Principal Amount. ZVF may, upon three Business Days’ notice to the
Administrative Agent, each Funding Agent, each Conduit Investor and each Committed Note Purchaser, effect a permanent reduction in the Series 2010-1 Maximum Principal Amount and a corresponding pro rata reduction in the Maximum Investor Group
Principal Amount with respect to each Investor Group; provided that (x) any such reduction must be in a minimum amount of $5,000,000 and (y) (i) after giving effect to such reduction, the Series 2010-1 Maximum Principal Amount
shall equal or exceed $5,000,000, unless reduced to zero and (ii) after giving effect to such reduction and any principal payments made with respect to the Series 2010-1 Notes on such day, the Series 2010-1 Principal Amount shall not exceed the
Series 2010-1 Maximum Principal Amount and the Investor Group Principal Amount with respect to any Investor Group shall not exceed the Maximum Investor Group Principal Amount with respect to such Investor Group. Any reduction made pursuant to this
Section 2.07 shall be made ratably among the Investor Groups on the basis of their respective Maximum Investor Group Principal Amount immediately prior to such reduction. 

ARTICLE III 

INTEREST AND FEES 

SECTION 3.01 Interest. 
 (a) Each related Advance funded or maintained by an Investor Group during the related Series 2010-1 Interest Period (i) through the issuance of Series 2010-1 Commercial Paper shall bear interest
at the CP Rate for such Series 2010-1 Interest Period and (ii) through means other than the issuance of Series 2010-1 Commercial Paper shall bear interest at the Eurodollar Rate (Reserve Adjusted) applicable to such Investor Group for the
related Eurodollar Interest Period, in each case except as otherwise provided in the definition of Eurodollar Interest Period or in Section 3.03 or 3.04. Each Funding Agent shall notify ZVF and the Administrator of the applicable
interest rate for the Advances made by its Investor Group for the related Series 2010-1 Interest Period or Eurodollar Interest Period, as the case may be (including the applicable CP Rate, the Eurodollar Rate (Reserve Adjusted) and/or Series 2010-1
Base Rate, as the case may be) by 11:00 a.m. (New York time) on the second Business Day immediately preceding each Determination Date and on the Business Day following each Payment Date. 

  
 14 

 (b) Interest (including all amounts described in Section 3.01(a) above and any
Series 2010-1 Monthly Default Interest Amount) shall be due and payable on each Payment Date in accordance with the provisions of the Series 2010-1 Supplement. 
 (c) All computations of interest at the CP Rate and the Eurodollar Rate (Reserve Adjusted) shall be made on the basis of a year of 360 days and the actual number of days elapsed and all computations of
interest at the Series 2010-1 Base Rate shall be made on the basis of a 365 (or 366, as applicable) day year and actual number of days elapsed. 
 SECTION 3.02 Fees. 
 (a) On each Payment Date, ZVF shall pay to
each Funding Agent, for the account of the related Investor Group, a program fee (the “Program Fee”) equal to (A) the sum of the product of, for each day during the related Series 2010-1 Interest Period (x) the Program Fee
Rate for the related Investor Group for such day and (y) the Investor Group Principal Amount for the related Investor Group for such day divided by (B) 360. 
 (b) On each Payment Date on or prior to the Series 2010-1 Commitment Termination Date, ZVF shall pay to each Funding Agent, for the account of the related Investor Group, an undrawn fee (the
“Undrawn Fee”) equal to (A) the sum of the product of, for each day during the related Series 2010-1 Interest Period (x) the Undrawn Fee Rate for such day and (y) the excess of (i) the Maximum Investor Group
Principal Amount for the related Investor Group for such day over (ii) the Investor Group Principal Amount for the related Investor Group for such day, divided by (B) 360. 

(c) On the Restatement Effective Date, ZVF shall pay to each Funding Agent the Up-Front Fee for such Funding Agent. 

SECTION 3.03 Eurodollar Lending Unlawful. If a Conduit Investor, a Committed Note Purchaser or any Program Support
Provider shall reasonably determine (which determination shall, upon notice thereof to the Administrative Agent and the related Funding Agent and ZVF, be conclusive and binding on ZVF absent manifest error) that the introduction of or any change in
or in the interpretation of any law, rule or regulation makes it unlawful, or any central bank or other Governmental Authority asserts that it is unlawful, for any such Program Support Provider or Committed Note Purchaser to make, continue, or
maintain any Advance as, or to convert any Advance into, the Series 2010-1 Eurodollar Tranche of such Advance, the obligation of such Person to make, continue or maintain or convert any such Advance as the Series 2010-1 Eurodollar Tranche of such
Advance shall, upon such determination, forthwith be suspended until such Person shall notify the related Funding Agent and ZVF that the circumstances causing such suspension no longer exist, and such Investor Group shall immediately convert all
Advances of any such Program Support Provider or Committed Note Purchaser, as applicable, into the Series 2010-1 Base Rate Tranche of such Advance at the end of the then current Eurodollar Interest Periods with respect thereto or sooner, if required
by such law or assertion. 

  
 15 

 SECTION 3.04 Deposits Unavailable. If a Conduit Investor, a Committed Note
Purchaser or any Program Support Provider shall have reasonably determined that: 
 (a) Dollar deposits in the
relevant amount and for the relevant Eurodollar Interest Period are not available to all related Reference Lenders in the relevant market; or 
 (b) by reason of circumstances affecting all related Reference Lenders’ relevant market, adequate means do not exist for ascertaining the interest rate applicable hereunder to the Series 2010-1
Eurodollar Tranche of any Advance; or 
 (c) such Conduit Investor, such Committed Note Purchaser or the related
Majority Program Support Providers have notified the related Funding Agent and ZVF that, with respect to any interest rate otherwise applicable hereunder to the Series 2010-1 Eurodollar Tranche of any Advance the Eurodollar Interest Period for which
has not then commenced, such interest rate will not adequately reflect the cost to such Conduit Investor, such Committed Note Purchaser or such Majority Program Support Providers of making, funding, agreeing to make or fund or maintaining their
respective Series 2010-1 Eurodollar Tranche of such Advance for such Eurodollar Interest Period, 
 then, upon notice from such Conduit
Investor, such Committed Note Purchaser or the related Majority Program Support Providers to such Funding Agent and ZVF, the obligations of such Conduit Investor, such Committed Note Purchaser and all of the relevant Program Support Providers to
make or continue any Advance as, or to convert any Advances into, the Series 2010-1 Eurodollar Tranche of such Advance shall forthwith be suspended until such Funding Agent shall notify ZVF that the circumstances causing such suspension no longer
exist, and such Investor Group shall immediately convert all Advances of any such Program Support Provider or Committed Note Purchaser, as applicable, into the Series 2010-1 Base Rate Tranche of such Advance at the end of the then current Eurodollar
Interest Periods with respect thereto or sooner, if required for the reasons set forth in clause (a), (b) or (c) above, as the case may be. 
 SECTION 3.05 Increased or Reduced Costs, etc. 
 ZVF agrees to
reimburse each Conduit Investor and each Committed Note Purchaser and any Program Support Provider (each, an “Affected Person”) for any increase in the cost of, or any reduction in the amount of any sum receivable by any such
Affected Person (including reductions in the rate of return on such Affected Person’s capital) in respect of making, continuing or maintaining (or of its obligation to make, continue or maintain) any Advances as, or of converting (or of its
obligation to convert) any Advances into, the Series 2010-1 Eurodollar Tranche of such Advance that arise in connection with any Changes in Law, except for such Changes in Law with respect to increased capital costs and taxes which are governed by
Sections 3.07 and 3.08, respectively. Each such demand shall be provided to the related Funding Agent and ZVF in writing and shall state, in reasonable detail, the reasons therefor and the additional amount required fully to compensate
such Affected Person for such increased cost or reduced amount or return. Such additional amounts shall be payable by ZVF to such Funding Agent and by such Funding Agent directly to such Affected Person within five (5) Business Days of
ZVF’s receipt of such notice, and such notice shall, in the absence of manifest error, be conclusive and binding on ZVF. 

  
 16 

 SECTION 3.06 Funding Losses. In the event any Affected Person shall incur
any loss or expense (including any loss or expense incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such Affected Person to make, continue or maintain any portion of the principal amount of any Advance as
a Series 2010-1 CP Tranche or Series 2010-1 Eurodollar Tranche, or to convert any portion of the principal amount of any Advance into, the Series 2010-1 Eurodollar Tranche of such Advance) as a result of: 

(i) any conversion or repayment or prepayment (for any reason, including, without limitation, as a result of the
acceleration of the maturity of the Series 2010-1 CP Tranche or Series 2010-1 Eurodollar Tranche of such Advance or the assignment thereof in accordance with the requirements of the applicable Program Support Agreement) of the principal amount of
any portion of the Series 2010-1 CP Tranche or Series 2010-1 Eurodollar Tranche on a date other than the scheduled last day of the Series 2010-1 Interest Period or Eurodollar Interest Period applicable thereto; 

(ii) any Advance not being made as an Advance under the Series 2010-1 CP Tranche or Series 2010-1 Eurodollar Tranche after
a request for such an Advance has been made in accordance with the terms contained herein; 
 (iii) any Advance
not being continued as a Series 2010-1 CP Tranche or Series 2010-1 Eurodollar Tranche, or converted into an Advance under the Series 2010-1 Eurodollar Tranche after a request for such an Advance has been made in accordance with the terms contained
herein, or 
 (iv) any failure of ZVF to make a Decrease or an Increase after giving notice thereof pursuant to
Section 2.2(b) of the Series 2010-1 Supplement or Section 2.02 hereof, 

  
 17 

 then, upon the written notice of any Affected Person to the related Funding Agent and ZVF, ZVF shall pay to
such Funding Agent and such Funding Agent shall, within five (5) Business Days of its receipt thereof, pay directly to such Affected Person such amount as will (in the reasonable determination of such Affected Person) reimburse such Affected
Person for such loss or expense. Such written notice (which shall include calculations in reasonable detail) shall, in the absence of manifest error, be conclusive and binding on ZVF. 

SECTION 3.07 Increased Capital Costs. If any Change in Law affects or would affect the amount of capital required or
reasonably expected to be maintained by any Affected Person or any Person controlling such Affected Person and such Affected Person reasonably determines (in its sole and absolute discretion) that the rate of return on its or such controlling
Person’s capital as a consequence of its commitment or the Advances made by such Affected Person is reduced to a level below that which such Affected Person or such controlling Person would have achieved but for the occurrence of any such
circumstance, then, in any such case after notice from time to time by such Affected Person to the related Funding Agent and ZVF, ZVF shall pay to such Funding Agent and such Funding Agent shall pay to such Affected Person an incremental commitment
fee sufficient to compensate such Affected Person or such controlling Person for such reduction in rate of return. A statement of such Affected Person as to any such additional amount or amounts (including calculations thereof in reasonable detail),
in the absence of manifest error, shall be conclusive and binding on ZVF; and provided, further, that the initial payment of such increased commitment fee shall include a payment for accrued amounts due under this
Section 3.07 prior to such initial payment. In determining such additional amount, such Affected Person may use any method of averaging and attribution that it (in its reasonable discretion) shall deem applicable so long as it applies
such method to other similar transactions. 
 SECTION 3.08 Taxes. All payments by ZVF of principal of, and
interest on, the Advances and all other amounts payable hereunder (including fees) to or on behalf of any Affected Person shall be made free and clear of and without deduction for any present or future income, excise, documentary, property, stamp or
franchise taxes and other taxes, fees, duties, withholdings or other charges of any nature whatsoever imposed by any taxing authority, but excluding in the case of any Affected Person (x) net income, franchise or similar taxes (including branch
profits taxes or alternative minimum tax) imposed or levied on the Affected Person as a result of a connection between the Affected Person and the jurisdiction of the Governmental Authority imposing such tax or any political subdivision or taxing
authority thereof or therein (other than any such connection arising solely from such Affected Person having executed, delivered or performed its obligations or received a payment under, or enforced by, this Agreement), (y) any United States
backup withholding tax and (z) with respect to any Affected Person organized under the laws of a jurisdiction other than the United States (“Foreign Affected Person”), any withholding tax that is imposed on amounts payable to
the Foreign Affected Person at the time the Foreign Affected Person becomes a party to this Agreement (or designates a new lending office), except to the extent that such Foreign Affected Person (or its assignor, if any) was already entitled, at the
time of the designation of the new lending office (or assignment), to receive additional amounts from ZVF with respect to withholding tax (such non-excluded items being called “Taxes”). 

  
 18 

 Moreover, if any Taxes are directly asserted against any Affected Person with respect to any
payment received by such Affected Person or its agent from ZVF, such Affected Person or its agent may pay such Taxes and ZVF will promptly upon receipt of written notice stating the amount of such Taxes pay such additional amounts (including any
penalties, interest or expenses) as is necessary in order that the net amount received by such person after the payment of such Taxes (including any Taxes on such additional amount) shall equal the amount such person would have received had not such
Taxes been asserted. 
 If ZVF fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to the
Affected Person or its agent the required receipts or other required documentary evidence, ZVF shall indemnify the Affected Person and their agent for any incremental Taxes, interest or penalties that may become payable by any such Affected Person
or its agent as a result of any such failure. For purposes of this Section 3.08, a distribution hereunder by the agent for the relevant Affected Person shall be deemed a payment by ZVF. 

Upon the request of ZVF, each Foreign Affected Person shall execute and deliver to ZVF, prior to the initial due date of any payments
hereunder and to the extent permissible under then current law, and on or about the first scheduled payment date in each calendar year thereafter, one or more (as ZVF may reasonably request) United States Internal Revenue Service Forms W-8BEN, Forms
W-8ECI or Forms W-9, or successor applicable forms, or such other forms or documents (or successor forms or documents), appropriately completed, as may be applicable to establish the extent, if any, to which a payment to such Foreign Affected Person
is exempt from withholding or deduction of Taxes. Each Foreign Affected Person shall (and shall cause other persons acting on its behalf to) take any action (including entering into any agreement with the Internal Revenue Service) and comply with
any information gathering and reporting requirements, in each case, that are required to obtain the maximum available exemption from any U.S. federal withholding taxes that is available to payments received by or on behalf of such Foreign Affected
Person; provided that the requirements set forth in this paragraph shall not interfere with the right of any Foreign Affected Person to arrange its tax affairs in whatever manner it sees fit. ZVF shall not, however, be required to pay any
increased amount or provide an indemnity under this Section 3.08 to any Foreign Affected Person if such Foreign Affected Person fails to comply with the requirements set forth in this paragraph without regard to the proviso in the
immediately preceding sentence. 
 If the Affected Person determines, in its sole discretion, that it has received a refund of
any Taxes as to which it has been indemnified pursuant to this Section 3.08, it shall pay over such refund to ZVF (but only to the extent of indemnity payments made, or additional amounts paid under this Section 3.08 with
respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses of the Affected Person and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund), provided that
ZVF, upon the request of the Affected Person, agrees to repay the amount paid over to ZVF (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Affected Person in the event the Affected Person
is required to repay such refund to such Governmental Authority. This Section 3.08 shall not be construed to require the Affected Person to make available its tax returns (or any other information relating to its taxes which it deems
confidential) to ZVF or any other Person. 

  
 19 

 SECTION 3.09 Indenture Carrying Charges; Survival. Any amounts payable by
ZVF under Sections 3.05, 3.06, 3.07 or 3.08 shall constitute Carrying Charges within the meaning of the Base Indenture and Indenture Carrying Charges within the meaning of the Series 2010-1 Supplement. The agreements in
Sections 3.05, 3.06, 3.07 and 3.08 shall survive the termination of this Series 2010-1 Note Purchase Agreement, the Series 2010-1 Supplement and the Base Indenture and the payment of all amounts payable hereunder and
thereunder. 
 ARTICLE IV 
 OTHER PAYMENT TERMS 
 SECTION 4.01 Time and Method of Payment.
All amounts payable to any Funding Agent hereunder or with respect to the Series 2010-1 Notes shall be made to the applicable Funding Agent or upon the order of the applicable Funding Agent by wire transfer of immediately available funds in Dollars
not later than 1:00 p.m., New York City time, on the date due. Any funds received after that time will be deemed to have been received on the next Business Day. ZVF’s obligations hereunder in respect of any amounts payable to any Conduit
Investor or Committed Note Purchaser shall be discharged to the extent funds are disbursed by ZVF to the related Funding Agent as provided herein whether or not such funds are properly applied by such Funding Agent. 

ARTICLE V 
 THE
ADMINISTRATIVE AGENT AND THE FUNDING AGENTS 
 SECTION 5.01 Authorization and Action of the Administrative
Agent. Each of the Conduit Investors, the Committed Note Purchasers and the Funding Agents hereby designates and appoints Crédit Agricole Corporate and Investment Bank as the Administrative Agent hereunder, and hereby authorizes the
Administrative Agent to take such actions as agent on their behalf and to exercise such powers as are delegated to the Administrative Agent by the terms of this Agreement together with such powers as are reasonably incidental thereto. The
Administrative Agent shall not have any duties or responsibilities, except those expressly set forth herein and in the Series 2010-1 Supplement, and shall not have any fiduciary relationship with any Conduit Investor, any Committed Note Purchaser or
any Funding Agent, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of the Administrative Agent shall be read into this Agreement or otherwise exist for the Administrative Agent. In performing its
functions and duties hereunder and under the Series 2010-1 Supplement, the Administrative Agent shall act solely as agent for the Conduit Investors, the Committed Note Purchasers and the Funding Agents and shall not assume, nor shall it be deemed to
have assumed, any obligation or relationship of trust or agency with or for ZVF or any of its successors or assigns. The Administrative Agent shall not be required to take any action that exposes the Administrative Agent to personal liability or
that is contrary to this Agreement, the Series 2010-1 Supplement or Applicable Law. The appointment and authority of the Administrative Agent hereunder shall terminate upon the indefeasible payment in full of the Series 2010-1 Notes and all other
amounts owed by ZVF hereunder and under the Series 2010-1 Supplement to the Investor Groups (the “Series 2010-1 Obligations”). 

  
 20 

 SECTION 5.02 Delegation of Duties. The Administrative Agent may execute any
of its duties under this Agreement by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. The Administrative Agent shall not be responsible for the negligence or
misconduct of any agents or attorneys-in-fact selected by it with reasonable care. 
 SECTION 5.03 Exculpatory
Provisions. None of the Administrative Agent, any of its directors, any of its officers, any of its agents or any of its employees shall be (a) liable for any action lawfully taken or omitted to be taken by it under or in connection with
this Agreement (except for its own gross negligence or willful misconduct), or (b) responsible in any manner to any Conduit Investor, any Committed Note Purchaser or any Funding Agent for any recitals, statements, representations or warranties
made by ZVF, the Servicer, the Administrator or the Lessee contained in this Agreement or in any certificate, report, statement or other document referred to or provided for in, or received under or in connection with, this Agreement for the due
execution, legality, value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other document furnished in connection herewith, or for any failure of ZVF, the Servicer, the Administrator or the Lessee to
perform its obligations hereunder, or for the satisfaction of any condition specified in Article VII. The Administrative Agent shall not be under any obligation to any Conduit Investor, any Committed Note Purchaser or any Funding Agent
to ascertain or to inquire as to the observance or performance of any of the agreements or covenants contained in, or conditions of, this Agreement, or to inspect the properties, books or records of ZVF, the Servicer, the Administrator or the
Lessee. The Administrative Agent shall not be deemed to have knowledge of any Amortization Event, Potential Amortization Event, Liquidation Event of Default or Limited Liquidation Event of Default unless the Administrative Agent has received notice
from ZVF, the Servicer any Conduit Investor, any Committed Note Purchaser or any Funding Agent. 

  
 21 

 SECTION 5.04 Reliance. The Administrative Agent shall in all cases be
entitled to rely, and shall be fully protected in relying, upon any document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of legal
counsel (including, without limitation, counsel to ZVF), independent accountants and other experts selected by the Administrative Agent. The Administrative Agent shall in all cases be fully justified in failing or refusing to take any action under
this Agreement or any other document furnished in connection herewith unless it shall first receive such advice or concurrence of any Conduit Investor, any Committed Note Purchaser or any Funding Agent as it deems appropriate or it shall first be
indemnified to its satisfaction by any Conduit Investor, any Committed Note Purchaser or any Funding Agent, provided that unless and until the Administrative Agent shall have received such advice, the Administrative Agent may take or refrain
from taking any action, as the Administrative Agent shall deem advisable and in the best interests of the Conduit Investors, the Committed Note Purchasers and the Funding Agents. The Administrative Agent shall in all cases be fully protected in
acting, or in refraining from acting, in accordance with a request of the Required Noteholders and such request and any action taken or failure to act pursuant thereto shall be binding upon the Conduit Investors, the Committed Note Purchasers and
the Funding Agents. 
 SECTION 5.05 Non-Reliance on the Administrative Agent and Other Purchasers. Each of the
Conduit Investors, the Committed Note Purchasers and the Funding Agents expressly acknowledge that neither the Administrative Agent nor any of its officers, directors, employees, agents, attorneys-in-fact or affiliates has made any representations
or warranties to it and that no act by the Administrative Agent hereafter taken, including, without limitation, any review of the affairs of ZVF, the Servicer, the Administrator or the Lessee shall be deemed to constitute any representation or
warranty by the Administrative Agent. Each of the Conduit Investors, the Committed Note Purchasers and the Funding Agents represent and warrant to the Administrative Agent that they have and will, independently and without reliance upon the
Administrative Agent and based on such documents and information as they have deemed appropriate, made their own appraisal of and investigation into the business, operations, property, prospects, financial and other conditions and creditworthiness
of ZVF and the Lessee and made its own decision to enter into this Agreement. 
 SECTION 5.06 The Administrative
Agent in its Individual Capacity. The Administrative Agent and any of its Affiliates may make loans to, accept deposits from, and generally engage in any kind of business with ZVF or any Affiliate of ZVF as though the Administrative Agent were
not the Administrative Agent hereunder. 

  
 22 

 SECTION 5.07 Successor Administrative Agent. The Administrative Agent may,
upon 30 days notice to ZVF and each of the Conduit Investors, the Committed Note Purchasers and the Funding Agents, and the Administrative Agent will, upon the direction of Investor Groups holding more than 75% of the Series 2010-1 Maximum Principal
Amount, resign as Administrative Agent. If the Administrative Agent shall resign, then the Investor Groups, during such 30-day period, shall appoint an Affiliate of a member of the Investor Groups as a successor agent. If for any reason no successor
Administrative Agent is appointed by the Investor Groups during such 30-day period, then effective upon the expiration of such 30-day period, ZVF shall make all payments (as they come due or are required to be paid) in respect of the Series 2010-1
Obligations or under any fee letter delivered in connection herewith directly to the Funding Agents and for all purposes shall deal directly with the Funding Agents; provided that, the Conduit Investors, the Committed Note Purchasers and the
Funding Agents shall appoint a replacement Administrative Agent within 90 days of such resignation and if the Conduit Investors, the Committed Note Purchasers and the Funding Agents fail to so appoint a replacement within such period of time, ZVF
may petition a court of competent jurisdiction to make such appointment. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of Section 9.05 and this Article V shall
inure to its benefit as to any actions taken or omitted to be taken by it while it was the Administrative Agent under this Agreement. 
 SECTION 5.08 Authorization and Action of Funding Agents. Each Conduit Investor and each Committed Note Purchaser is hereby deemed to have designated and appointed the Funding Agent with
respect to the Investor Group of which it is a member as the agent of such Person hereunder, and hereby authorizes such Funding Agent to take such actions as agent on its behalf and to exercise such powers as are delegated to such Funding Agent by
the terms of this Agreement together with such powers as are reasonably incidental thereto. No Funding Agent shall have any duties or responsibilities, except those expressly set forth herein, or any fiduciary relationship with the related Investor
Group, and no implied covenants, functions, responsibilities, duties, obligations or liabilities on the part of such Funding Agent shall be read into this Agreement or otherwise exist for such Funding Agent. In performing its functions and duties
hereunder, each Funding Agent shall act solely as agent for the related Investor Group and shall not assume or be deemed to have assumed any obligation or relationship of trust or agency with or for ZVF or any of its successors or assigns. Each
Funding Agent shall not be required to take any action that exposes such Funding Agent to personal liability or that is contrary to this Agreement or Applicable Law. The appointment and authority of the Funding Agent hereunder shall terminate upon
the indefeasible payment in full of all Series 2010-1 Obligations. 
 SECTION 5.09 Delegation of Duties. Each
Funding Agent may execute any of its duties under this Agreement by or through agents or attorneys-in-fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Each Funding Agent shall not be responsible for
the negligence or misconduct of any agents or attorneys-in-fact selected by it with reasonable care. 

  
 23 

 SECTION 5.10 Exculpatory Provisions. No Funding Agent nor any of its
directors, officers, agents or employees shall be (a) liable for any action lawfully taken or omitted to be taken by it under or in connection with this Agreement (except for its own gross negligence or willful misconduct), or
(b) responsible in any manner to the related Investor Group for any recitals, statements, representations or warranties made by ZVF, the Servicer, the Administrator or the Lessee contained in this Agreement or in any certificate, report,
statement or other document referred to or provided for in, or received under or in connection with, this Agreement, or for the value, validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other document
furnished in connection herewith, or for any failure of ZVF, the Servicer, the Administrator or the Lessee to perform its obligations hereunder, or for the satisfaction of any condition specified in Article VII. No Funding Agent shall be
under any obligation to the related Investor Group to ascertain or to inquire as to the observance or performance of any of the agreements or covenants contained in, or conditions of, this Agreement, or to inspect the properties, books or records of
ZVF, the Servicer, the Administrator or the Lessee. No Funding Agent shall be deemed to have knowledge of any Amortization Event, Potential Amortization Event, Liquidation Event of Default or Limited Liquidation Event of Default unless such Funding
Agent has received notice from ZVF, the Administrative Agent or any member of the related Investor Group. 

SECTION 5.11 Reliance. Each Funding Agent shall in all cases be entitled to rely, and shall be fully protected in
relying, upon any document or conversation believed by it to be genuine and correct and to have been signed, sent or made by the proper Person or Persons and upon advice and statements of the Administrative Agent and legal counsel (including,
without limitation, counsel to ZVF), independent accountants and other experts selected by such Funding Agent. Each Funding Agent shall in all cases be fully justified in failing or refusing to take any action under this Agreement or any other
document furnished in connection herewith unless it shall first receive such advice or concurrence of the members of the related Investor Group as it deems appropriate or it shall first be indemnified to its satisfaction by the members of the
related Investor Group, provided that unless and until such Funding Agent shall have received such advice, such Funding Agent may take or refrain from taking any action, as such Funding Agent shall deem advisable and in the best interests of
the members of the related Investor Group. Each Funding Agent shall in all cases be fully protected in acting, or in refraining from acting, in accordance with a request of the related Investor Group and such request and any action taken or failure
to act pursuant thereto shall be binding upon the members of the related Investor Group. 

SECTION 5.12 Non-Reliance on the Funding Agent and Other Purchasers. Each member of each Investor Group expressly
acknowledges that neither its related Funding Agent nor any of such Funding Agent’s officers, directors, employees, agents, attorneys-in-fact or affiliates has made any representations or warranties to it and that no act by such Funding Agent
hereafter taken, including, without limitation, any review of the affairs of ZVF, the Servicer, the Administrator or the Lessee, shall be deemed to constitute any representation or warranty by such Funding Agent. Each member of each Investor Group
represents and warrants to its related Funding Agent that it has and will, independently and without reliance upon such Funding Agent and based on such documents and information as it has deemed appropriate, made its own appraisal of and
investigation into the business, operations, property, prospects, financial and other conditions and creditworthiness of ZVF and the Lessee and made its own decision to enter into this Agreement. 

  
 24 

 SECTION 5.13 The Funding Agent in its Individual Capacity. Each Funding
Agent and any of its Affiliates may make loans to, accept deposits from, and generally engage in any kind of business with ZVF or any Affiliate of ZVF as though such Funding Agent were not a Funding Agent hereunder. 

SECTION 5.14 Successor Funding Agent. Each Funding Agent will, upon the direction of the members of the related Investor
Group, resign as such Funding Agent. If such Funding Agent shall resign, then the members of the related Investor Group shall appoint an Affiliate of a member of the related Investor Group as a successor agent. If for any reason no successor Funding
Agent is appointed by the related Investor Group, then effective upon the resignation of such Funding Agent, ZVF shall make all payments (as they come due or are required to be paid) in respect of the Series 2010-1 Obligations due to such Investor
Group or under any fee letter delivered in connection herewith directly to such Investor Group and for all purposes shall deal directly with such Investor Group. After any retiring Funding Agent’s resignation hereunder as Funding Agent, subject
to the limitations set forth herein, the provisions of Section 9.05 and this Article V shall inure to its benefit as to any actions taken or omitted to be taken by it while it was the Funding Agent under this Agreement.

 ARTICLE VI 
 REPRESENTATIONS AND WARRANTIES 
 SECTION 6.01 ZVF. ZVF represents
and warrants to each Conduit Investor and each Committed Note Purchaser that each of its representations and warranties in the Base Indenture and the other Series 2010-1 Related Documents is true and correct on the date hereof and further represents
and warrants to such parties that: 
 (a) no Amortization Event with respect to any Series of Notes, Liquidation
Event of Default or Limited Liquidation Event of Default with respect to any Series of Notes or event which, with the giving of notice or the passage of time or both would constitute any of the foregoing, has occurred and is continuing; 

  
 25 

 (b) assuming each Conduit Investor or other purchaser of the Series 2010-1
Notes hereunder is not purchasing with a view toward further distribution and there has been no general solicitation or general advertising within the meaning of the Securities Act, and further assuming that the representations and warranties of
each Conduit Investor set forth in Section 6.03 of this Agreement are true and correct, the offer and sale of the Series 2010-1 Notes in the manner contemplated by this Agreement is a transaction exempt from the registration requirements
of the Securities Act, and the Base Indenture is not required to be qualified under the Trust Indenture Act; 

(c) ZVF has furnished to the Administrative Agent true, accurate and complete copies of all other Related Documents
(excluding Series Supplements and other Related Documents relating solely to a Series of Indenture Notes other than the Series 2010-1 Notes) to which it is a party as of the Restatement Effective Date, all of which Related Documents are in full
force and effect as of the Restatement Effective Date and no terms of any such agreements or documents have been amended, modified or otherwise waived as of such date, other than such amendments, modifications or waivers about which ZVF has informed
each Funding Agent; and 
 (d) as of the Restatement Effective Date, no written information furnished by ZVF or
any of its Affiliates, agents or representatives to the Conduit Investors, the Committed Note Purchasers, the Administrative Agent or the Funding Agents for purposes of or in connection with this Agreement, including, without limitation, any
information relating to the Collateral, is inaccurate in any material respect, or contains any material misstatement of fact, or omits to state a material fact necessary to make the statements contained therein not misleading, in each case as of the
date such information was stated or certified. 
 SECTION 6.02 Zipcar. Zipcar represents and warrants to each
Conduit Investor and each Committed Note Purchaser that: 
 (a) each representation and warranty made by it in
each Related Document (other than any Related Document relating solely to a Series of Indenture Notes other than the Series 2010-1 Notes) to which it is a party (including any representations and warranties made by it as Administrator, Servicer or
Lessee) is true and correct in all material respects as of the date originally made and as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct as of such
earlier date); and 
 (b)(i) the audited consolidated balance sheet of Zipcar, Inc. and its Consolidated
Subsidiaries as of December 31, 2010 and the related statements of income, stockholders equity and cash flows for the year ending on such date and (ii) the unaudited condensed consolidated balance sheet of Zipcar, Inc. and its Consolidated
Subsidiaries as of March 31, 2011 and the related statements of income, stockholders equity and cash flows for the three months ending on such date (including in each case the schedules and notes thereto) (the “Financial
Statements”), have been prepared in accordance with GAAP and present fairly the financial position of Zipcar, Inc. and its Consolidated Subsidiaries as of the date thereof and the results of their operations and their cash flows for the
periods covered thereby. 

  
 26 

 SECTION 6.03 Conduit Investors. Each of the Conduit Investors and each of
the Committed Note Purchasers represents and warrants to ZVF and Zipcar, on behalf of itself as of the date hereof (or with respect to a successor or assign of a Conduit Investor or a Committed Note Purchaser, on the date it shall become a party
hereto), that: 
 (a) it has had an opportunity to discuss ZVF’s and the Lessee’s business, management
and financial affairs, and the terms and conditions of the proposed purchase, with ZVF and the Lessee and their respective representatives; 
 (b) it is an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act and has sufficient knowledge and experience in
financial and business matters to be capable of evaluating the merits and risks of investing in, and is able and prepared to bear the economic risk of investing in, the Series 2010-1 Notes; 

(c) it is purchasing the Series 2010-1 Notes for its own account, or for the account of one or more “accredited
investors” within the meaning of Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act that meet the criteria described in subsection (b) and for which it is acting with complete investment discretion,
for investment purposes only and not with a view to distribution, subject, nevertheless, to the understanding that the disposition of its property shall at all times be and remain within its control; 

(d) it understands that the Series 2010-1 Notes have not been and will not be registered or qualified under the Securities
Act or any applicable state securities laws or the securities laws of any other jurisdiction and is being offered only in a transaction not involving any public offering within the meaning of the Securities Act and may not be resold or otherwise
transferred unless so registered or qualified or unless an exemption from registration or qualification is available, that ZVF is not required to register the Series 2010-1 Notes, and that any transfer must comply with provisions of Section 2.8
of the Base Indenture; 
 (e) it understands that the Series 2010-1 Notes will bear the legend set out in the
form of Series 2010-1 Notes attached as Exhibit A to the Series 2010-1 Supplement and be subject to the restrictions on transfer described in such legend; 
 (f) it will comply with all applicable federal and state securities laws in connection with any subsequent resale of the Series 2010-1 Notes; 

  
 27 

 (g) it understands that, subject to Section 9.17, the Series 2010-1
Notes may be offered, resold, pledged or otherwise transferred only (A) to ZVF, (B) in a transaction meeting the requirements of Rule 144A under the Securities Act, (C) outside the United States to a foreign person in a transaction
meeting the requirements of Regulation S under the Securities Act, or (D) in a transaction complying with or exempt from the registration requirements of the Securities Act and in accordance with any applicable securities laws of any state of
the United States or any other jurisdiction; 
 (h) any transferee of the Series 2010-1 Notes will be subject to
the requirements of Section 5.3 of the Series 2010-1 Supplement. Upon original issuance thereof, and until such time as the same may no longer be required under the applicable requirements of the Securities Act, the certificate evidencing the
Series 2010-1 Notes (and all securities issued in exchange therefor or substitution thereof) shall bear a legend substantially in the form set forth in the Series 2010-1 Notes included as an exhibit to the Series 2010-1 Supplement. Each Conduit
Investor understands that the registrar and transfer agent for the Series 2010-1 Notes will not be required to accept for registration of transfer the Series 2010-1 Notes acquired by it, except upon presentation of an executed letter in the form
required by the Series 2010-1 Supplement; and 
 (i) it will obtain from any purchaser of the Series 2010-1 Notes
substantially the same representations and warranties contained in the foregoing paragraphs. 
 ARTICLE VII 

CONDITIONS 

SECTION 7.01 Conditions to Issuance. No Conduit Investor or Committed Note Purchaser has any obligation to acquire the
Series 2010-1 Notes hereunder on the Series 2010-1 Closing Date unless: 
 (a) the Base Indenture, the Series
2010-1 Supplement and each other Series 2010-1 Related Document shall be in full force and effect as of the Series 2010-1 Closing Date; 
 (b) as of the Series 2010-1 Closing Date, each Funding Agent shall have received copies of (i) the Certificate of Incorporation and By-Laws of Zipcar and the certificate of formation and limited
liability company agreement of ZVF certified by the Secretary of State of the state of organization, as the case may be, (ii) board of directors resolutions of ZVF and Zipcar with respect to the transactions contemplated by the Series 2010-1
Supplement and this Agreement, (iii) an incumbency certificate of ZVF and Zipcar, each certified by the secretary or equivalent officer of the related entity in form and substance reasonably satisfactory to the Administrative Agent,
(iv) with respect to Zipcar, certificates of good standing from the Secretary of State of the States of Delaware and Massachusetts and (v) with respect to ZVF, a certificate of good standing from the Secretary of State of the State of
Delaware; 

  
 28 

 (c) as of the Series 2010-1 Closing Date, each Conduit Investor and each
Committed Note Purchaser shall have received opinions of counsel (i) from Latham & Watkins LLP, or other counsel acceptable to the Conduit Investors and the Committed Note Purchasers, with respect to such matters as any such Conduit
Investor or Committed Note Purchaser shall reasonably request (including, without limitation, regarding non-consolidation, true lease and UCC security interest matters, vehicle security interest matters for the states of New York and California,
tax, general corporate matters, enforceability, required consents and no-conflicts), (ii) counsel to ZVF which may be Richards, Layton & Finger LLP or other counsel acceptable to the Conduit Investors and the Committed Note Purchasers
with respect to certain corporate and bankruptcy matters under Delaware law, (iii) from counsel to the Trustee acceptable to the Conduit Investors and the Committed Note Purchasers with respect to such matters as any such Conduit Investor or
Committed Note Purchaser shall reasonably request, (iv) from counsel to each Series 2010-1 Letter of Credit Provider, if any, with respect to such matters as any such Conduit Investor or Committed Note Purchaser shall reasonably request,
(v) from Massachusetts counsel to ZVF, which may be Wilmer Cutler Pickering Hale & Dorr LLP or other counsel acceptable to the Conduit Investors and the Committed Note Purchasers with respect to vehicle security interest matters for
the state of Massachusetts, (vi) from in-house counsel for Zipcar with respect to absence of litigation and no conflicts with material agreements and (viii) from counsel to the Back-Up Administrator with respect to certain corporate
matters; 
 (d) as of the Series 2010-1 Closing Date, each Conduit Investor and each Committed Note Purchaser
shall have received copies of the documents specified in Section 2.2(b) of the Base Indenture relating to the issuance of the Series 2010-1 Notes; 
 (e) as of the Series 2010-1 Closing Date, all conditions to the issuance of the Series 2010-1 Notes under the Series 2010-1 Supplement and under Section 2.2 of the Base Indenture shall have been
satisfied or waived; 
 (f) as of the Series 2010-1 Closing Date, the Administrative Agent shall have received a
written search report listing all effective financing statements that name ZVF or Zipcar as debtor or assignor and that are filed in the State of Delaware and in any other jurisdiction that the Administrative Agent determines is necessary or
appropriate, together with copies of such financing statements, and tax and judgment lien searches showing no such liens that are not permitted by the Base Indenture, the Series 2010-1 Supplement, this Agreement or the other Related Documents;

  
 29 

 (g) the Collection Account and each of the Series 2010-1 Designated Accounts
shall have been established in accordance with the Base Indenture and the Series 2010-1 Supplement; 
 (i) the
Administrative Agent shall have received an Officer’s Certificate from each of ZVF and Zipcar, Inc. stating that all representations and warranties made by it in each of the Related Documents are true and correct; 

(j) each Funding Agent shall have received on or prior to the Series 2010-1 Closing Date, to the extent required, evidence
satisfactory to it that the acquisition by the Conduit Investor in its Investor Group of Series 2010-1 Notes will not, in and of itself, result in a reduction or withdrawal of the rating of such Conduit Investor’s commercial paper notes by any
nationally recognized rating agency rating such commercial paper notes; 
 (k) the Administrative Agent shall
have received an officer’s certificate from the Back-Up Disposition Agent regarding certain corporate matters; 
 (l) the Administrative Agent shall have received all other closing deliverables as it shall reasonably request; 
 SECTION 7.02 Conditions to Amendment and Restatement. 
 (a) The
effectiveness of this Series 2010-1 Note Purchase Agreement is subject to the receipt by (a) the Administrative Agent and each Funding Agent on the Restatement Effective Date of opinions of counsel dated as of such date (A) from
Latham & Watkins LLP, or other counsel acceptable to the Conduit Investors and the Committed Note Purchasers, with respect to UCC security interest matters, general corporate matters, enforceability, required consents and no-conflicts,
(B) from counsel to ZVF which may be Richards, Layton & Finger LLP or other counsel acceptable to the Conduit Investors and the Committed Note Purchasers with respect to security matters, and (C) from in-house counsel for Zipcar
with respect to absence of litigation and no conflicts with material agreements, (b) each Funding Agent of an original duly executed and authenticated Series 2010-1 Note amended pursuant to the terms of the Series 2010-1 Supplement and
registered in the name of the applicable Funding Agent pursuant to Section 2.01 and stating that the principal amount thereof shall not exceed the Maximum Investor Group Principal Amount of such Funding Agent’s Investor Group and
(c) each Funding Agent of the Up-Front Fee for such Funding Agent. 

  
 30 

 SECTION 7.03 Conditions to Each Borrowing. The election of each Conduit
Investor to fund, and the obligation of each Committed Note Purchaser to fund, any Borrowing on any day (including the initial Borrowing following the Restatement Effective Date) shall be subject to the following conditions on the date of the
Borrowing, (both before and after giving effect thereto and to the application of any proceeds therefrom): 

(a)(i) the representations and warranties of ZVF set out in this Agreement (other than Section 6.01(a)
(solely to the extent relating to any Series of Notes other than the Series 2010-1 Notes), Section 6.01(b) and Section 6.01(d)), (ii) the representations and warranties of Zipcar set out in this Agreement (other than
Section 6.02(a), which shall have been true and accurate on the dates specified therein), and (iii) the representations and warranties of ZVF, the Servicer, the Administrator and the Lessee set out in the Related Documents (other
than (x) this Agreement and (y) any Series Supplements and Related Documents relating solely to a Series of Indenture Notes other than the Series 2010-1 Notes) to which each is a party, in each such case, shall be true and accurate as of
the date of the Borrowing with the same effect as though made on that date (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date; 

(b) the Series 2010-1 Rapid Amortization Period shall not have commenced; 

(c) the Series 2010-1 Commitment Termination Date shall not have occurred; 

(d) the related Funding Agent shall have received (i) an executed advance request in the form of Exhibit A
hereto (each such request, an “Advance Request”) certifying as to the current Aggregate Asset Amount and the Series 2010-1 Enhancement Amount and the other amounts set forth therein and (ii) in the case of any Borrowing
occurring on or after the date the Monthly Noteholder Statement relating to the May 2010 Payment Date is required to be delivered, the Monthly Noteholders’ Statement for the Series 2010-1 Notes for the Related Month immediately preceding the
date of such Borrowing; 
 (e) all conditions to making the related Advances in connection with such Borrowing
specified in Section 2.02(a) of this Agreement shall have been satisfied; 
 (f) each Series 2010-1
Related Document shall be in full force and effect; and 
 (g) ZVF shall have acquired and shall be maintaining
in force one or more Series 2010-1 Interest Rate Caps in accordance with Section 3.12 of the Series 2010-1 Supplement. 

The giving of any notice by ZVF pursuant to Section 2.03(a) shall be deemed to constitute a representation and warranty by
ZVF and Zipcar that all conditions precedent to such Borrowing shall be satisfied as of the date of such Borrowing. 

  
 31 

 ARTICLE VIII 
 COVENANTS 
 SECTION 8.01 Covenants. ZVF and Zipcar each severally
covenants and agrees that, until the Series 2010-1 Notes have been paid in full and the Term has expired, it will: 
 (a) duly and timely perform all of its covenants (both affirmative and negative) and obligations under each Related Document to which it is a party; 

(b)(i) at the same time any report, notice, certificate, opinion (other than any bankruptcy timing memorandum) or other
document (other than any such reports, notices, certificates, opinions or other documents relating solely to any Segregated Series of Notes) is provided, or caused to be provided, to the Trustee, by ZVF or the Administrator under the Base Indenture
(including, without limitation, under Sections 8.8, 8.9, 8.10, 8.11 and/or 8.12 thereof), or under the Series 2010-1 Supplement or this Agreement, provide the Administrative Agent (who shall provide a copy thereof
to each Funding Agent) with a copy of such report, notice, certificate, opinion (other than any bankruptcy timing memorandum) or other document; provided, however, that neither the Administrator nor ZVF shall have any obligation under
this Section 8.01(b) to deliver to the Administrative Agent copies of any Monthly Noteholders’ Statements which relate solely to a Series of Indenture Notes other than the Series 2010-1 Notes and (ii) provide the Administrative
Agent and each Funding Agent such other information (including financial information), documents, records or reports respecting the Collateral, ZVF or the Administrator as the Administrative Agent or any Funding Agent may from time to time
reasonably request; 
 (c) at any time and from time to time, following reasonable prior notice from the
Administrative Agent or any Funding Agent, and during regular business hours, permit the Administrative Agent or any Funding Agent, or their respective agents or representatives (including any independent public accounting firm or other third party
auditors) or permitted assigns, access to the offices of, the Administrator, Zipcar and ZVF, as applicable, (i) to examine and make copies of and abstracts from all documentation relating to the Series 2010-1 Collateral on the same terms as are
provided to the Trustee under Section 8.6 of the Base Indenture, and (ii) to visit the offices and properties of, the Administrator, Zipcar and ZVF for the purpose of examining such materials described in clause (i) above, and
to discuss matters relating to the Series 2010-1 Collateral, or the administration and performance of the Base Indenture, the Series 2010-1 Supplement and the other Series 2010-1 Related Documents with any of the officers or employees of, the
Administrator, Zipcar and ZVF, as applicable, having knowledge of such matters; provided that (i) prior to the occurrence of an Amortization Event or Potential Amortization Event with respect to the Series 2010-1 Notes, one such visit
per calendar year coordinated by the Administrative Agent and in which each Funding Agent may participate shall be at ZVF’s sole cost and expense and (ii) after the occurrence and during the continuance of an Amortization Event or
Potential Amortization Event with respect to the Series 2010-1 Notes, one such visit per calendar month shall be at ZVF’s sole cost and expense. Each party making a request pursuant to this Section 8.01(c) shall simultaneously send
a copy of such request to each of the Administrative Agent and each Funding Agent, as applicable, so as to allow such other parties to participate in the requested visit. 

  
 32 

 (d) not permit any part of the proceeds of any Advance to be (x) used
to purchase or carry any Margin Stock or (y) loaned to others for the purpose of purchasing or carrying any Margin Stock; 
 (e) not permit any amounts owed with respect to the Series 2010-1 Notes to be secured, directly or indirectly, by any Margin Stock; 

(f) promptly provide such additional financial and other information with respect to the Related Documents (other than
Series Supplements and Related Documents relating solely to a Series of Notes other than the Series 2010-1 Notes), ZVF and Zipcar as the Administrative Agent or any Funding Agent may from time to time reasonably request; 

(g) on and after the Series 2010-1 Expected Final Payment Date, use all amounts allocated to and available for
distribution from each excess collection account in respect of each Series of Notes to decrease, pro rata, the Series 2010-1 Principal Amount and the principal amount of any other Series of Notes that is then required to be paid; 

(h) deliver to each Funding Agent within 120 days after the end of each fiscal year of ZVF, the financial statements
prepared pursuant to Section 8.24(d) of the Base Indenture; 
 (i) in the case of the Administrator, for so
long as a Liquidation Event of Default or Limited Liquidation Event of Default for any Series of Notes is continuing, furnish or cause the Servicer to furnish to the Administrative Agent, the Back-Up Disposition Agent and each Series 2010-1
Noteholder, the Fleet Report, prepared in accordance with Section 2.3(d) of the Collateral Agency Agreement (which may be on a diskette or other electronic medium); 

(j) agree to take any and all acts and to execute any and all further instruments necessary or reasonably requested by the
Administrative Agent to more fully effect the purposes of this Agreement; 
 (k) upon the request of the
Administrative Agent, cause a firm of independent certified public accountants reasonably acceptable to the Administrative Agent and the Administrator to deliver to the Administrative Agent and each Funding Agent, at ZVF’s cost, a report (in
form, substance and scope reasonably acceptable to the Administrative Agent, and the Administrator) indicating that such firm has examined the most recently delivered Monthly Noteholders’ statement and expressing such firm’s opinion that
(a) the data reported and calculations set forth in such Monthly Noteholders’ Statement are the data required to be reported and the calculations required to be made in accordance with the terms of the Series 2010-1 Series Supplement and
the other Related Documents and (b) the data reported in such Monthly Noteholders’ Statement accurately reflects the data contained in the Servicer’s systems and other applicable source records (a “Servicer Audit”);
provided that such Servicer Audits shall be at ZVF’s sole cost and expense (i) for no more than one such Servicer Audit in any calendar year coordinated by the Administrative Agent prior to the occurrence of an Amortization Event or
Potential Amortization Event, in each case, with respect to the Series 2010-1 Notes and (ii) for two such Servicer Audits in any calendar year (in the aggregate including any Servicer Audit conducted at ZVF’s cost and expense pursuant to
the immediately preceding clause (i)) after the occurrence and during the continuance of an Amortization Event or Potential Amortization Event, in each case, with respect to the Series 2010-1 Notes; and 

  
 33 

 (l) within five Business Days following the end of each calendar quarter,
provide to the Administrative Agent a report containing the information set forth in, and substantially in the form of, Exhibit F hereto; and 
 (m) upon any amendment to Schedule 2.1 or Schedule 7 of the ZVF Lease, provide prompt written notice and a copy of such amended schedule to the Administrative Agent. 

SECTION 8.02 Additional Covenants. ZVF and Zipcar each severally covenants and agrees that, until the Series 2010-1
Notes have been paid in full and the Term has expired, it will: 
 (a) not amend, modify, waive or give any
approval, consent or permission under, any provision of the Base Indenture or any other Series 2010-1 Related Document to which it is a party or agree to terminate, or surrender or assign any rights or obligations under, any Series 2010-1 Related
Document to which it is a party unless (i) any such amendment, modification, waiver, approval, consent, permission, termination, surrender or assignment is in writing and made in accordance with the terms of the Base Indenture or such other
Series 2010-1 Related Document, as applicable and (ii) if such amendment, modification, waiver, approval, consent, permission, termination, surrender or assignment adversely affects the Series 2010-1 Noteholders, Series 2010-1 Noteholders
holding more than 50% of the Series 2010-1 Principal Amount have consented thereto (whether or not, for the avoidance of doubt, any Indenture Noteholder has a right to consent to such action under the applicable Series 2010-1 Related Document);
provided, that in any such case, if the Base Indenture, the Series 2010-1 Supplement or any other Series 2010-1 Related Document requires the consent of each affected Noteholder or a higher percentage of Series 2010-1 Noteholders, such
unanimous consent or the consent of such higher percentage of Series 2010-1 Noteholders shall be obtained prior to such amendment, modification, waiver, approval, consent, permission, termination, surrender or assignment; provided
further that prior to entering into, granting or effecting any amendment, modification, waiver, approval, consent, permission, termination, surrender or assignment described in this Section 8.02(a) without the consent of Series 2010-1
Noteholders holding more than 50% of the Series 2010-1 Principal Amount (or the consent of Series 2010-1 Noteholders holding any higher required percentage of the Series 2010-1 Principal Amount or all Series 2010-1 Noteholders, as applicable), ZVF
shall deliver to the Trustee and each Funding Agent an Officer’s Certificate executed by an Authorized Officer of ZVF and cause to be delivered an Opinion of Counsel (which may be based on an Officer’s Certificate) issued by a law firm of
nationally recognized standing confirming, in each case, that such amendment, modification, waiver, approval, consent, permission, termination, surrender or assignment does not adversely affect the Series 2010-1 Noteholders. 

  
 34 

 (b) not designate any Manufacturer as an Eligible Manufacturer pursuant to
clause (b) of the definition thereof without the prior written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount, which consent shall not be unreasonably withheld or delayed; 

(c) not remove the Administrator or the Back-Up Disposition Agent without the prior written consent of Series 2010-1
Noteholders holding more than 50% of the Series 2010-1 Principal Amount; 
 (d) not appoint or agree to the
appointment of any successor Administrator (other than the Back-Up Administrator), Back-Up Administrator or Collateral Agent without the prior written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount;

 (e) not terminate the Servicer pursuant to Section 8.7(c) of the Base Indenture without the prior written
consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount; 
 (f) not
reduce the percentage set forth in Section 22 of the ZVF Lease with respect to Depreciation Charges without the prior written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount; 

(g) not amend or modify the Base Indenture in connection with the issuance of a Segregated Series without (i) the
prior written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount or (ii) the delivery to each Funding Agent of an Officer’s Certificate executed by an Authorized Officer of ZVF and an Opinion
of Counsel (which may be based on an Officer’s Certificate) issued by a law firm of nationally recognized standing confirming, in each case, that such amendment or modification does not adversely affect the Series 2010-1 Noteholders;

 (h) not issue a Segregated Non-Collateral Agency Series without the prior written consent of Series 2010-1
Noteholders holding more than 50% of the Series 2010-1 Principal Amount, such consent not to be unreasonably withheld or delayed; 

  
 35 

 (i) provide the Administrative Agent with the Series Supplement with respect
to any new Series of Notes at least 10 Business Days prior to the issuance of such new Series of Notes and (ii) not issue such new Series of Notes if (A) such issuance shall have a material adverse affect on the interests of the Holders of
the Series 2010-1 Notes in the reasonable and good faith determination of the Administrative Agent (excluding any impact from the dilution of the interests or voting percentage of the Series 2010-1 Noteholders) and (B) the Administrative Agent
provides ZVF and the Servicer with written notice of such determination together with a written explanation as to the reasons therefor within five Business Days of the Administrative Agent’s receipt of such Series Supplement; provided
that, if there are any changes to such Series Supplement for such new Series of Notes after ZVF has delivered such Series Supplement to the Administrative Agent, ZVF shall provide the Administrative Agent with a redlined copy of the Series
Supplement marked to show such changes and the Administrative Agent shall have at least two Business Days to review such changes and deliver the written notice described in the immediately preceding clause; 

(j) not amend the definition of Ineligible Non-Investment Grade Receivable Amount in the Base Indenture without the prior
written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount; 
 (k)
not add any new Eligible Program Manufacture pursuant to clause (b) of the definition thereof without the prior written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount; 

(l) not enter into any new Eligible Manufacturer Program, or consent to any material change to an existing Eligible
Manufacturer Program, without the prior written consent of Series 2010-1 Noteholders holding more than 50% of the Series 2010-1 Principal Amount; and 
 (m) prior to obtaining any Series 2010-1 Letter of Credit, deliver to each Series 2010-1 Noteholder an opinion of counsel with respect to the creation and perfection of the security interest in the Series
2010-1 Cash Collateral Account in form and substance reasonably satisfactory to the Administrative Agent. 

  
 36 

 ARTICLE IX 
 MISCELLANEOUS PROVISIONS 

SECTION 9.01 Amendments. Subject to any provision of the Base Indenture or the Series 2010-1
Supplement requiring the consent of each affected Noteholder or of a higher percentage of Noteholders, no amendment to or waiver of any provision of this Agreement, nor consent to any departure by the Administrator or ZVF, shall in any event be
effective unless the same shall be in writing and signed by the Administrator, ZVF, Conduit Investors and Committed Note Purchasers holding more than
66 2/3% of the Series 2010-1 Notes and the
Commitment, respectively; provided, however, that the consent of each Conduit Investor and each Committed Note Purchaser shall be required for and amendment or modification that (A) extends the due date for, or reduces the amount
of any scheduled repayment or prepayment of principal of or interest on the Series 2010-1 Notes (or reduces the principal amount of or rate of interest on the Series 2010-1 Notes or otherwise changes the manner in which interest is calculated);
(B) affects adversely the interests, rights or obligations of any Conduit Investor or Committed Note Purchaser individually in comparison to any other Conduit Investor or Committed Note Purchaser; (C) relates to or alters the pro rata
treatment of payments to and Advances by the Conduit Investors and Committed Note Purchasers; (D) amends or modifies this Section 9.01 or Section 8.01(b) or otherwise amends or modifies any provision relating to the amendment or
modification of this Agreement, or, pursuant to the Related Documents, would require the consent of 100% of the Series 2010-1 Noteholders or each Series 2010-1 Noteholder affected by such amendment or modification; (E) would approve the
assignment or transfer by ZVF of any of its rights or obligations hereunder; (F) releases ZVF of any material obligation hereunder; (G) would reduce, modify or amend any indemnities in favor of any Conduit Investors, Committed Note
Purchasers or Funding Agents; (H) would amend or modify and of the following defined terms or any defined terms contained therein: “Commitment”, “Commitment Percentage”, “Conduit Assignee”, “CP Rate”,
“Eurodollar Advance”, “Eurodollar Interest Period”, “Eurodollar Rate”, “Eurodollar Rate (Reserve Adjusted)”, “Investor Group Principal Amount”, “Maximum Investor Group Principal Amount”,
“Prime Rate”, “Program Fee”, “Series 2010-1 Base Rate”, “Series 2010-1 Commitment Termination Date” or “Undrawn Fee”; (I) would alter any of the conditions precedent to any Advance; or
(J) would amend or modify Sections 2.03, 2.05, 2.06, 2.07, 3.01, 3.02 or 9.17 or Article VII; provided, further that Article V may not be amended or modified without the consent of the Administrative Agent. 

SECTION 9.02 No Waiver; Remedies. Any waiver, consent or approval given by any party hereto shall be effective only in
the specific instance and for the specific purpose for which given, and no waiver by a party of any breach or default under this Agreement shall be deemed a waiver of any other breach or default. No failure on the part of any party hereto to
exercise, and no delay in exercising, any right hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right hereunder, or any abandonment or discontinuation of steps to enforce the right, power or privilege,
preclude any other or further exercise thereof or the exercise of any other right. No notice to or demand on any party hereto in any case shall entitle such party to any other or further notice or demand in the same, similar or other circumstances.
The remedies herein provided are cumulative and not exclusive of any remedies provided by law. 

  
 37 

 SECTION 9.03 Binding on Successors and Assigns. This Agreement shall be
binding upon, and inure to the benefit of, ZVF, the Administrator, the Committed Note Purchasers, the Conduit Investors, the Administrative Agent and their respective successors and assigns; provided, however, that neither ZVF nor the
Administrator may assign or transfer its rights or obligations hereunder or in connection herewith or any interest herein (voluntarily, by operation of law or otherwise) without the prior written consent of each Committed Note Purchaser and each
Conduit Investor; provided, that nothing herein shall prevent ZVF from assigning its rights to the Trustee under the Base Indenture and the Series 2010-1 Supplement and to the Collateral Agent under the Collateral Agency Agreement;
provided, further, that none of the Conduit Investors or the Committed Note Purchasers may transfer, pledge, assign, sell participations in or otherwise encumber its rights or obligations hereunder or in connection herewith or any
interest herein except as permitted under Section 6.03(g), Section 9.17 and this Section 9.03. Nothing expressed herein is intended or shall be construed to give any Person other than the Persons referred to in
the preceding sentence any legal or equitable right, remedy or claim under or in respect of this Agreement. 
 (a)
Notwithstanding any other provision set forth in this Agreement, each Conduit Investor and each Conduit Committed Note Purchaser may at any time grant to one or more Program Support Providers (or, in the case of a Conduit Investor, to its related
Conduit Committed Note Purchaser) a participating interest in or lien on, or otherwise transfer and assign to one or more Program Support Providers (or, in the case of a Conduit Investor, to its related Conduit Committed Note Purchaser), such
Conduit Investor’s or such Committed Note Purchaser’s interests in the Advances made hereunder and such Program Support Provider (or such Conduit Committed Note Purchaser, as the case may be), with respect to its participating or assigned
interest, shall be entitled to the benefits granted to such Conduit Investor or Committed Note Purchaser, as applicable, under this Agreement. 
 (b) Notwithstanding any other provision set forth in this Agreement, each Conduit Investor may at any time, without the consent of ZVF, transfer and assign all or a portion of its rights in the Series
2010-1 Notes (and its rights hereunder and under the Related Documents) to its related Conduit Committed Note Purchaser. Furthermore, each Conduit Investor may at any time grant a security interest in and lien on, all or any portion of its interests
under this Agreement, its Series 2010-1 Note and all Related Documents to (i) its related Conduit Committed Note Purchaser, (ii) its Funding Agent, (iii) any Program Support Provider, (iv) any other Person who, at any time now or
in the future, provides liquidity or credit enhancement for the Conduit Investors, including without limitation, an insurance policy relating to the Series 2010-1 Commercial Paper or the Series 2010-1 Notes or (v) any collateral trustee or
collateral agent for any of the foregoing; provided, however, any such security interest or lien shall be released upon assignment of its Series 2010-1 Note to its related Conduit Committed Note Purchaser. Each Committed Note Purchaser
may assign its Commitment, or all or any portion of its interest under its Series 2010-1 Note, this Agreement and the Related Documents to any Person with the prior written consent of ZVF, such consent not to be unreasonably withheld.
Notwithstanding any other provisions set forth in this Agreement, each Committed Note Purchaser may at any time create a security interest in all or any portion of its rights under this Agreement, its Series 2010-1 Note and the Related Documents in
favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System or any similar foreign entity. 

  
 38 

 SECTION 9.04 Survival of Agreement. All covenants, agreements,
representations and warranties made herein and in the Series 2010-1 Notes delivered pursuant hereto shall survive the making and the repayment of the Advances and the execution and delivery of this Agreement and the Series 2010-1 Notes and shall
continue in full force and effect until all interest on and principal of the Series 2010-1 Notes and all other amounts owed to the Conduit Investors, the Committed Note Purchasers, the Funding Agents and the Administrative Agent hereunder and under
the Series 2010-1 Supplement have been paid in full and the commitment of the Committed Note Purchasers hereunder has been terminated. In addition, the obligations of ZVF, the Committed Note Purchasers and the Conduit Investors under Sections
3.03, 3.04, 3.05, 3.06, 3.07, 3.08, 5.03, 5.10, 9.05, 9.10(b) and 9.11 shall survive the termination of this Agreement. 

SECTION 9.05 Payment of Costs and Expenses; Indemnification. 

(a) Payment of Costs and Expenses. ZVF agrees to pay on demand all reasonable expenses of the Administrative Agent, each
Funding Agent, each Conduit Investor and each Committed Note Purchaser (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel to the Administrative Agent, each Conduit Investor and each Committed Note Purchaser, if
any, as well as the fees and expenses of the Rating Agencies, if any, providing a rating in respect of any Series 2010-1 Commercial Paper) in connection with 
 (i) the negotiation, preparation, execution, delivery and administration of this Agreement and of each other Related Document, including schedules and exhibits, and any liquidity, credit enhancement or
insurance documents of a Program Support Provider with respect to a Conduit Investor relating to the Series 2010-1 Notes and any amendments, waivers, consents, supplements or other modifications to this Agreement or any other Related Document as may
from time to time hereafter be proposed, whether or not the transactions contemplated hereby or thereby are consummated, and 
 (ii) the consummation of the transactions contemplated by this Agreement and the other Related Documents. 

  
 39 

 ZVF further agrees to pay, and to save the Administrative Agent, each Funding Agent, each Conduit Investor
and each Committed Note Purchaser harmless from all liability for (i) any breach by ZVF of its obligations under this Agreement, (ii) all reasonable costs incurred by the Administrative Agent, such Funding Agent, such Conduit Investor or
such Committed Note Purchaser (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel to the Administrative Agent, such Funding Agent, such Conduit Investor and such Committed Note Purchaser, if any) in enforcing
this Agreement and (iii) any stamp, documentary or other similar taxes which may be payable in connection with the execution or delivery of this Agreement, any Borrowing hereunder, or the issuance of the Series 2010-1 Notes or any other Related
Documents. ZVF also agrees to reimburse the Administrative Agent, each Funding Agent, each Conduit Investor and each Committed Note Purchaser upon demand for all reasonable out-of-pocket expenses incurred by the Administrative Agent, such Funding
Agent, such Conduit Investor or such Committed Note Purchaser (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel to the Administrative Agent, such Funding Agent, such Conduit Investor and such Committed Note
Purchaser, if any and the reasonable fees and out-of-pocket expenses of any third-party servicers and disposition agents) in connection with (x) the negotiation of any restructuring or “work-out”, whether or not consummated, of the
Related Documents and (y) the enforcement of, or any waiver or amendment requested under or with respect to, this Agreement or any other of the Related Documents. 
 Without limiting the foregoing, ZVF shall have no obligation to reimburse any Committed Note Purchaser and/or Conduit Investor for any of the fees and/or expenses incurred by such Committed Note Purchaser
and/or Conduit Investor with respect to its sale or assignment of all or any part of its respective rights and obligations under this Agreement and the Series 2010-1 Notes pursuant to Section 9.17. 

(b) Indemnification. In consideration of the execution and delivery of this Agreement by the Conduit Investors and the Committed
Note Purchasers, ZVF hereby indemnifies and holds each Conduit Investor and each Committed Note Purchaser and each of their officers, directors, employees and agents (collectively, the “Indemnified Parties”) harmless from and
against any and all actions, causes of action, suits, losses, costs, liabilities and damages (irrespective of whether any such Indemnified Party is a party to the action for which indemnification hereunder is sought and including, without
limitation, any liability in connection with the offering and sale of the Series 2010-1 Notes), including reasonable attorneys’ fees and disbursements and other reasonable related expenses (collectively, the “Indemnified
Liabilities”), incurred by the Indemnified Parties or any of them (whether in prosecuting or defending against such actions, suits or claims) to the extent resulting from, or arising out of, or relating to 

(i) any transaction financed or to be financed in whole or in part, directly or indirectly, with the proceeds of any
Advance; or 
 (ii) the entering into and performance of this Agreement and any other Related Document by any of
the Indemnified Parties, 
 except for any such Indemnified Liabilities arising for the account of a particular Indemnified Party by reason of
the relevant Indemnified Party’s gross negligence or willful misconduct. If and to the extent that the foregoing undertaking may be unenforceable for any reason, ZVF hereby agrees to make the maximum contribution to the payment and satisfaction
of each of the Indemnified Liabilities which is permissible under applicable law. The indemnity set forth in this Section 9.05(b) shall in no event include indemnification for any taxes (which indemnification is provided in
Section 3.08). 

  
 40 

 (c) Indemnification of the Administrative Agent and each Funding Agent. 

(i) In consideration of the execution and delivery of this Agreement by the Administrative Agent and each Funding Agent, ZVF hereby
indemnifies and holds the Administrative Agent and each Funding Agent and each of their respective officers, directors, employees and agents (collectively, the “Agent Indemnified Parties”) harmless from and against any and all
actions, causes of action, suits, losses, costs, liabilities and damages (irrespective of whether any such Agent Indemnified Party is a party to the action for which indemnification hereunder is sought and including, without limitation, any
liability in connection with the offering and sale of the Series 2010-1 Notes), including reasonable attorneys’ fees and disbursements and other reasonable related expenses (collectively, the “Agent Indemnified Liabilities”),
incurred by the Agent Indemnified Parties or any of them (whether in prosecuting or defending against such actions, suits or claims) to the extent resulting from, or arising out of, or relating to the entering into and performance of this Agreement
and any other Related Document by any of the Agent Indemnified Parties, except for any such Agent Indemnified Liabilities arising for the account of a particular Agent Indemnified Party by reason of the relevant Agent Indemnified Party’s gross
negligence or willful misconduct. If and to the extent that the foregoing undertaking may be unenforceable for any reason, ZVF hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Agent Indemnified
Liabilities which is permissible under applicable law. The indemnity set forth in this Section 9.05(c)(i) shall in no event include indemnification for any taxes (which indemnification is provided in Section 3.08). ZVF shall
give notice to the Rating Agencies of any claim for Agent Indemnified Liabilities made under this section. 
 (ii) In
consideration of the execution and delivery of this Agreement by the Administrative Agent, each Committed Note Purchaser, ratably according to its respective Commitment, hereby indemnifies and holds the Administrative Agent and each of its officers,
directors, employees and agents (collectively, the “Administrative Agent Indemnified Parties”) harmless from and against any and all actions, causes of action, suits, losses, costs, liabilities and damages (solely to the extent not
reimbursed by or on behalf of ZVF) (irrespective of whether any such Administrative Agent Indemnified Party is a party to the action for which indemnification hereunder is sought and including, without limitation, any liability in connection with
the offering and sale of the Series 2010-1 Notes), including reasonable attorneys’ fees and disbursements and other reasonable related expenses (collectively, the “Administrative Agent Indemnified Liabilities”), incurred by the
Administrative Agent Indemnified Parties or any of them (whether in prosecuting or defending against such actions, suits or claims) to the extent resulting from, or arising out of, or relating to the entering into and performance of this Agreement
and any other Related Document by any of the Agent Indemnified Parties, except for any such Administrative Agent Indemnified Liabilities arising for the account of a particular Administrative Agent Indemnified Party by reason of the relevant
Administrative Agent Indemnified Party’s gross negligence or willful misconduct. If and to the extent that the foregoing undertaking may be unenforceable for any reason, each Committed Note Purchaser hereby agrees to make the maximum
contribution to the payment and satisfaction of each of the Administrative Agent Indemnified Liabilities which is permissible under applicable law. The indemnity set forth in this Section 9.05(c)(ii) shall in no event include
indemnification for any taxes (which indemnification is provided in Section 3.08) 

  
 41 

 (iii) In consideration of the execution and delivery of this Agreement by each Funding
Agent, each Committed Note Purchaser hereby indemnifies and holds its related Funding Agent and each of its officers, directors, employees and agents (collectively, the “Funding Agent Indemnified Parties”) harmless from and against
any and all actions, causes of action, suits, losses, costs, liabilities and damages, and reasonable expenses incurred in connection therewith (solely to the extent not reimbursed by or on behalf of ZVF) (irrespective of whether any such Funding
Agent Indemnified Party is a party to the action for which indemnification hereunder is sought and including, without limitation, any liability in connection with the offering and sale of the Series 2010-1 Notes), including reasonable
attorneys’ fees and disbursements (collectively, the “Funding Agent Indemnified Liabilities”), incurred by the Funding Agent Indemnified Parties or any of them (whether in prosecuting or defending against such actions, suits or
claims) to the extent resulting from, or arising out of, or relating to the entering into and performance of this Agreement and any other Related Document by any of the Funding Agent Indemnified Parties, except for any such Funding Agent Indemnified
Liabilities arising for the account of a particular Funding Agent Indemnified Party by reason of the relevant Funding Agent Indemnified Party’s gross negligence or willful misconduct. If and to the extent that the foregoing undertaking may be
unenforceable for any reason, each Committed Note Purchaser hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Funding Agent Indemnified Liabilities which is permissible under applicable law. The indemnity
set forth in this Section 9.05(c)(iii) shall in no event include indemnification for any taxes (which indemnification is provided in Section 3.08). 
 SECTION 9.06 Characterization as Related Document; Entire Agreement. This Agreement shall be deemed to be a Related Document for all purposes of the Base Indenture and the other Related
Documents. This Agreement, together with the Base Indenture, the Series 2010-1 Supplement, the Fee Letter, the documents delivered pursuant to Section 7.01 and the other Related Documents, including the exhibits and schedules thereto,
contains a final and complete integration of all prior expressions by the parties hereto with respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter hereof,
superseding all previous oral statements and other writings with respect thereto. 

  
 42 

 SECTION 9.07 Notices. All notices, amendments, waivers, consents and other
communications provided to any party hereto under this Agreement shall be in writing and addressed, delivered or transmitted to such party at its address or facsimile number set forth below its signature hereto or at such other address or facsimile
number as may be designated by such party in a written notice to the other parties. Any notice, if mailed and properly addressed with postage prepaid or if properly addressed and sent by pre-paid courier service, shall be deemed given when received;
any notice, if transmitted by facsimile, shall be deemed given when transmitted upon receipt of electronic confirmation of transmission. 
 SECTION 9.08 Severability of Provisions. Any covenant, provision, agreement or term of this Agreement that is prohibited or is held to be void or unenforceable in any jurisdiction shall,
as to that jurisdiction, be ineffective to the extent of the prohibition or unenforceability without invalidating the remaining provisions of this Agreement. 
 SECTION 9.09 Tax Matters. Each party to this Agreement (a) acknowledges that it is the intent of the parties to this Agreement that, for accounting purposes and for all Federal,
state and local income and franchise tax purposes, the Series 2010-1 Notes will be treated as evidence of indebtedness, (b) agrees to treat the Series 2010-1 Notes for all such purposes as indebtedness and (c) agrees that the provisions of
the Related Documents shall be construed to further these intentions. On the Series 2010-1 Closing Date, each initial Conduit Investor and Committed Note Purchaser shall deliver a tax certificate executed by such Conduit Investor or Committed Note
Purchaser substantially in the form of Exhibit E to the Registar and ZVF. 
 SECTION 9.10 No Proceedings; Limited
Recourse. 
 (a) ZVF. Each of the parties hereto (other than ZVF) hereby covenants and agrees that, prior to the
date which is one year and one day after the final payment in full of all Indenture Notes issued by ZVF pursuant to the Base Indenture, it will not institute against or join with, encourage or cooperate with any other Person in instituting against,
ZVF, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any Federal or state bankruptcy or similar law, all as more particularly set forth in Section 13.15 of the Base Indenture and
subject to any retained rights set forth therein; provided, however, that nothing in this Section 9.10(a) shall constitute a waiver of any right to indemnification, reimbursement or other payment from ZVF pursuant to this
Agreement, the Series 2010-1 Supplement or the Base Indenture. In the event that a Committed Note Purchaser (solely in its capacity as such) or a Conduit Investor (solely in its capacity as such) takes action in violation of this
Section 9.10(a), ZVF agrees that it shall file an answer with the bankruptcy court or otherwise properly contest the filing of such a petition by any such Person against ZVF or the commencement of such action and raise the defense that
such Person has agreed in writing not to take such action and should be estopped and precluded therefrom and such other defenses, if any, as its counsel advises that it may assert. The provisions of this Section 9.10(a) shall survive the
termination of this Agreement. Nothing contained herein shall preclude participation by a Committed Note Purchaser or a Conduit Investor in assertion or defense of its claims in any such proceeding involving ZVF. The obligations of ZVF under this
Agreement are solely the limited liability company obligations of ZVF. In addition, each of the parties hereto agrees that all fees, expenses and other costs payable hereunder by ZVF shall be payable only to the extent set forth in
Section 13.16 of the Base Indenture and that all other amounts owed to them by ZVF shall be payable solely from amounts that become available for payment pursuant to the Base Indenture and the Series 2010-1 Supplement. 

  
 43 

 (b) The Conduit Investors. Each of the parties hereto hereby covenants and agrees
that it will not, prior to the date which is one year and one day after the payment in full of the latest maturing Series 2010-1 Commercial Paper or other debt securities or instruments issued by a Conduit Investor, institute against, or join with
any other Person in instituting against, such Conduit Investor, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any Federal or state bankruptcy or similar law, subject to any retained
rights set forth therein; provided, however, that nothing in this Section 9.10(b) shall constitute a waiver of any right to indemnification, reimbursement or other payment from such Conduit Investor pursuant to this
Agreement, the Series 2010-1 Supplement or the Base Indenture. In the event that ZVF, the Administrator, a Committed Note Purchaser (solely in its capacity as such) or Zipcar takes action in violation of this Section 9.10(b), such
related Conduit Investor may file an answer with the bankruptcy court or otherwise properly contest the filing of such a petition by any such Person against such Conduit Investor or the commencement of such action and raise the defense that such
Person has agreed in writing not to take such action and should be estopped and precluded therefrom and such other defenses, if any, as its counsel advises that it may assert. The provisions of this Section 9.10(b) shall survive the
termination of this Agreement. Nothing contained herein shall preclude participation by ZVF, the Administrator, a Committed Note Purchaser or Zipcar in assertion or defense of its claims in any such proceeding involving a Conduit Investor. The
obligations of the Conduit Investors under this Agreement are solely the corporate obligations of the Conduit Investors. No recourse shall be had for the payment of any amount owing in respect of this Agreement, including any obligation or claim
arising out of or based upon this Agreement, against any stockholder, employee, officer, agent, director, member, affiliate or incorporator of any Conduit Investor; provided, however, nothing in this Section 9.10(b) shall
relieve any of the foregoing Persons from any liability which any such Person may otherwise have for its gross negligence or willful misconduct. 
 Notwithstanding any provisions contained in this Agreement to the contrary, the Conduit Investors shall not, and shall not be obligated to, fund or pay any amount pursuant to this Agreement or the Series
2010-1 Notes unless (i) the respective Conduit Investor has received funds which may be used to make such funding or other payment and which funds are not required to repay any of the commercial paper notes (“CP Notes”) issued
by such Conduit Investor when due and (ii) after giving effect to such funding or payment, either (x) such Conduit Investor could issue CP Notes to refinance all of its outstanding CP Notes (assuming such outstanding CP Notes matured at
such time) in accordance with the program documents governing its commercial paper program or (y) all of the CP Notes are paid in full. Any amount which a Conduit Investor does not pay pursuant to the operation of the preceding sentence shall
not constitute a claim (as defined in Section 101 of the Bankruptcy Code) against or obligation of such Conduit Investor for any such insufficiency. 

  
 44 

 SECTION 9.11 Confidentiality. Each Committed Note Purchaser, each Conduit
Investor and each Funding Agent agrees that it shall not disclose any Confidential Information to any Person without the prior written consent of the Administrator and ZVF, other than (a) to their Affiliates and their officers, directors,
employees, agents and advisors (including, without limitation, legal counsel and accountants) and to actual or prospective assignees and participants, and then only on a confidential basis, (b) as mandated by a court or administrative order or
decree, governmental or regulatory authority or self-regulatory organization or required by any statute, law, rule or regulation or judicial process (including any subpoena or similar legal process), (c) to any Rating Agency providing a rating
for the Series 2010-1 Notes or the Conduit Investor’s debt, (d) in the course of litigation with ZVF or the Administrator, (e) to any Series 2010-1 Noteholder, any Committed Note Purchaser, any Conduit Investor, any Funding Agent or
the Administrative Agent, (f) to any Person acting as a placement agent or dealer with respect to any commercial paper (provided that any Confidential Information provided to any such placement agent or dealer does not reveal the identity of
ZVF or any of its Affiliates), (g) on a confidential basis, to any provider of credit enhancement or liquidity to any Conduit Investor, (h) on a confidential basis, to auditors or legal or other professional advisors of any party hereto or
(i) to any Person to the extent such Committed Note Purchaser or Conduit Investor reasonably determines such disclosure is necessary or appropriate in connection with the enforcement or for the defense of the rights and remedies under the
Series 2010-1 Notes, the Indenture or any other Related Document. 
 “Confidential Information” means
information that ZVF or the Administrator furnishes to a Committed Note Purchaser, a Conduit Investor or a Funding Agent in connection with or related to the transactions contemplated by the Related Documents or otherwise pursuant to the terms
thereof, but does not include (i) any such information that is or becomes generally available to the public other than as a result of a disclosure by a Committed Note Purchaser, a Conduit Investor or a Funding Agent or other Person to which a
Committed Note Purchaser, a Conduit Investor or a Funding Agent, directly or indirectly, delivered such information, (ii) any such information that was in the possession of a Committed Note Purchaser, a Conduit Investor or a Funding Agent or
other source prior to its being furnished to such Committed Note Purchaser, Conduit Investor or Funding Agent by ZVF or the Administrator, or (iii) that is or becomes available to a Committed Note Purchaser, a Conduit Investor or a Funding
Agent from a source other than ZVF or the Administrator or any of their respective agents, provided that, with respect to clause (ii) and this clause (iii), such source is not (1) known to a Committed Note Purchaser or
a Conduit Investor to be bound by a confidentiality agreement with ZVF or the Administrator, as the case may be, or (2) known to a Committed Note Purchaser or a Conduit Investor to be otherwise prohibited from transmitting the information by a
contractual, legal or fiduciary obligation. 

  
 45 

 SECTION 9.12 Governing Law. THIS AGREEMENT AND ALL MATTERS ARISING UNDER OR
IN ANY MANNER RELATING TO THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HERETO SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAW.

 SECTION 9.13 Jurisdiction. ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY OF THE PARTIES HEREUNDER WITH
RESPECT TO THIS SERIES 2010-1 NOTE PURCHASE AGREEMENT MAY BE BROUGHT IN ANY STATE OR (TO THE EXTENT PERMITTED BY LAW) FEDERAL COURT OF COMPETENT JURISDICTION SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK AND BY EXECUTION AND DELIVERY
OF THIS SERIES 2010-1 NOTE PURCHASE AGREEMENT, EACH PARTY HEREUNDER ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID COURTS, AND IRREVOCABLY AGREES TO BE BOUND BY
ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS SERIES 2010-1 NOTE PURCHASE AGREEMENT. 

SECTION 9.14 Waiver of Jury Trial. ALL PARTIES HEREUNDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY
RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS SERIES 2010-1 NOTE PURCHASE AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER ORAL OR
WRITTEN) OR ACTIONS OF THE PARTIES IN CONNECTION HEREWITH OR THEREWITH. ALL PARTIES ACKNOWLEDGE AND AGREE THAT THEY HAVE RECEIVED FULL AND SIGNIFICANT CONSIDERATION FOR THIS PROVISION AND THAT THIS PROVISION IS A MATERIAL INDUCEMENT FOR ALL PARTIES
TO ENTER INTO THIS SERIES 2010-1 NOTE PURCHASE AGREEMENT. 

  
 46 

 SECTION 9.15 Counterparts. This Agreement may be executed in any number of
counterparts (which may include facsimile) and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original, and all of which together shall constitute one and the same instrument.

 SECTION 9.16 Additional Investor Groups. Unless an Amortization Event or a Potential Amortization Event, in
each case with respect to the Series 2010-1 Notes, shall have occurred and be continuing, ZVF may, with the consent of each Funding Agent and the Administrative Agent, cause an Additional Investor Group and its related Funding Agent, Conduit
Purchasers, if any, and Committed Note Purchasers to become parties to this Agreement to increase the Series 2010-1 Maximum Principal Amount by complying with the provisions of this Section 9.16 and Sections 2.1 and 5.1 of the Series
2010-1 Supplement. ZVF shall give the Administrative Agent and each Funding Agent the name of the Funding Agent, the Conduit Investors, if any, and the Committed Note Purchasers which are members of such proposed Additional Investor Group, the
Maximum Investor Group Principal Amount with respect to such Additional Investor Group, the related Conduit Committed Note Purchaser’s Conduit Committed Note Purchaser Percentage and the desired effective date of such proposed Additional
Investor Group becoming a party to this Agreement. Each Additional Investor Group shall, upon the execution of an Addendum by such Additional Investor Group, the Administrative Agent and ZVF, become a party to this Agreement from and after the date
of such execution with the same effect as if such Additional Investor Group had been an original party hereunder and the Administrative Agent shall amend Schedule I hereto in accordance with the information provided in the notice described
above. 
 SECTION 9.17 Assignment. 
 (a) Any Committed Note Purchaser may at any time sell or assign all or any part of its rights and obligations under this Agreement and the Series 2010-1 Notes, with the prior written consent of ZVF,
which consent shall not be unreasonably withheld, to one or more financial institutions or other entities (an “Acquiring Committed Note Purchaser”) pursuant to an assignment and assumption agreement, substantially in the form of
Exhibit B (the “Assignment and Assumption Agreement”), executed by such Acquiring Committed Note Purchaser, such assigning Committed Note Purchaser, the Funding Agent with respect to such Committed Note Purchaser and ZVF
and delivered to the Administrative Agent; provided that the consent of ZVF to any such assignment shall not be required (i) after the occurrence and during the continuance of an Amortization Event with respect to the Series 2010-1 Notes
or (ii) if such Acquiring Committed Note Purchaser is an Affiliate of such assigning Committed Note Purchaser. 

  
 47 

 (b) Without limiting the foregoing, each Conduit Investor may assign all or a portion of the
Investor Group Principal Amount with respect to such Conduit Investor and its rights and obligations under this Agreement and any other Related Documents to which it is a party (or otherwise to which it has rights) to a Conduit Assignee with respect
to such Conduit Investor without the prior written consent of ZVF. Upon such assignment by a Conduit Investor to a Conduit Assignee, (i) such Conduit Assignee shall be the owner of the Investor Group Principal Amount or such portion thereof
with respect to such Conduit Investor, (ii) the related administrative or managing agent for such Conduit Assignee will act as the Funding Agent for such Conduit Assignee hereunder, with all corresponding rights and powers, express or implied,
granted to the Funding Agent hereunder or under the other Related Documents, (iii) such Conduit Assignee and its liquidity support provider(s) and credit support provider(s) and other related parties, in each case relating to the Series 2010-1
Commercial Paper and/or the Series 2010-1 Notes, shall have the benefit of all the rights and protections provided to such Conduit Investor herein and in the other Related Documents (including, without limitation, any limitation on recourse against
such Conduit Assignee as provided in this paragraph), (iv) such Conduit Assignee shall assume all of such Conduit Investor’s obligations, if any, hereunder or under the Base Indenture or under any other Related Document with respect to
such portion of the Investor Group Principal Amount and such Conduit Investor shall be released from such obligations, (v) all distributions in respect of the Investor Group Principal Amount or such portion thereof with respect to such Conduit
Investor shall be made to the applicable Funding Agent on behalf of such Conduit Assignee, (vi) the definition of the term “CP Rate” with respect to the portion of the Investor Group Principal Amount with respect to such Conduit
Investor, as applicable funded with commercial paper issued by such Conduit Assignee from time to time shall be determined in the manner set forth in the definition of “CP Rate” applicable to such Conduit Assignee on the basis of the
interest rate or discount applicable to commercial paper issued by such Conduit Assignee (rather than any other Conduit Investor), (vii) the defined terms and other terms and provisions of this Agreement and the other Related Documents shall be
interpreted in accordance with the foregoing, and (viii) if requested by the Funding Agent with respect to such Conduit Assignee, the parties will execute and deliver such further agreements and documents and take such other actions as the
Funding Agent may reasonably request to evidence and give effect to the foregoing. No assignment by any Conduit Investor to a Conduit Assignee of all or any portion of the Investor Group Principal Amount with respect to such Conduit Investor shall
in any way diminish the obligation of the Committed Note Purchasers in the same Investor Group as such Conduit Investor under Section 2.03 to fund any Increase not funded by such Conduit Investor or such Conduit Assignee. 

(c) Any Conduit Investor and the Committed Note Purchaser with respect to such Conduit Investor may at any time sell all or any part of
their respective rights and obligations under this Agreement and the Series 2010-1 Notes, with the prior written consent of ZVF, which consent shall not be unreasonably withheld, to a multi-seller commercial paper conduit, whose commercial paper has
ratings of at least “A-2” from S&P and “P2” from Moody’s and one or more financial institutions providing support to such multi-seller commercial paper conduit (an “Acquiring Investor Group”) pursuant to
a transfer supplement, substantially in the form of Exhibit C (the “Investor Group Supplement”), executed by such Acquiring Investor Group, the Funding Agent with respect to such Acquiring Investor Group (including the
Conduit Investor and the Committed Note Purchasers with respect to such Investor Group), such assigning Conduit Investor and the Committed Note Purchasers with respect to such Conduit Investor, the Funding Agent with respect to such assigning
Conduit Investor and Committed Note Purchasers and ZVF and delivered to the Administrative Agent; provided that the consent of ZVF to any such assignment shall not be required after the occurrence and during the continuance of an Amortization
Event with respect to the Series 2010-1 Notes; provided further that it shall not be considered unreasonable for ZVF to withhold its consent to an assignment to a potential Acquiring Investor Group that has ratings of at least “A-2”
from S&P and “P2” by Moody’s, but does not have ratings of at least “A-1” from S&P or “P1” by Moody’s if such assignment will result in a material increase in ZVF’s costs of financing with respect
to the applicable Series 2010-1 Notes. 

  
 48 

 (d) Any Committed Note Purchaser may, in the ordinary course of its business and in
accordance with applicable law, at any time sell to one or more financial institutions or other entities (“Participants”) participations in its Conduit Committed Note Purchaser Percentage of the Maximum Investor Group Principal
Amount with respect to it and the other Committed Note Purchasers included in the related Investor Group, its Series 2010-1 Note and its rights hereunder (or, in each case, a portion thereof) pursuant to documentation in form and substance
satisfactory to such Committed Note Purchaser and the Participant; provided, however, that (i) in the event of any such sale by a Committed Note Purchaser to a Participant, (A) such Committed Note Purchaser’s obligations
under this Agreement shall remain unchanged, (B) such Committed Note Purchaser shall remain solely responsible for the performance thereof and (C) ZVF and the Administrative Agent shall continue to deal solely and directly with such
Committed Note Purchaser in connection with its rights and obligations under this Agreement and (ii) no Committed Note Purchaser shall sell any participating interest under which the Participant shall have rights to approve any amendment to, or
any consent or waiver with respect to, this Agreement, the Base Indenture, the Series 2010-1 Supplement or any Related Document, except to the extent that the approval of such amendment, consent or waiver otherwise would require the unanimous
consent of all Committed Note Purchasers hereunder. A Participant shall have the right to receive reimbursement for amounts due pursuant to Sections 3.05, 3.06, 3.07 and 3.08 but only to the extent that the related
selling Committed Note Purchaser would have had such right absent the sale of the related participation and, with respect to amounts due pursuant to Section 3.08, only to the extent such Participant shall have complied with the
provisions of Section 3.08 as if such Participant were a Committed Note Purchaser. 
 (e) ZVF authorizes each
Committed Note Purchaser to disclose to any Participant or Acquiring Committed Note Purchaser (each, a “Transferee”) and any prospective Transferee any and all information in such Committed Note Purchaser’s possession
concerning ZVF, the Collateral, the Lessee and the Related Documents which has been delivered to such Committed Note Purchaser by ZVF or the Administrator in connection with such Committed Note Purchaser’s credit evaluation of ZVF, the
Collateral and the Lessee; provided that each prospective Transferee shall agree to be bound by the provisions of Section 9.11 of this Agreement prior to the receipt of such information. 

(f) No direct or indirect assignment, participation, pledge, hypothecation, rehypothecation, exchange or other disposition or transfer of
any Series 2010-1 Note (each a “Transfer”) shall be made unless (i) the transferor notifies the Registrar and ZVF in writing of its intention to make such Transfer and (ii) such notice (1) identifies the transferee,
(2) contains a transfer certificate executed by the transferee substantially in the form of Exhibit I-1 to the Series 2010-1 Supplement, (3) contains any other information reasonably requested by the Registrar or ZVF and (4) is
delivered to the Registrar and ZVF. Notwithstanding anything herein to the contrary, no Transfer of a Series 2010-1 Note shall be permitted if such transfer would result in there being collectively more than twenty-five (25) beneficial holders
of Series 2010-1 Notes. Any purported Transfers of a Series 2010-1 Note to a transferee which does not comply with the requirements of this paragraph shall be null and void ab initio. 

[Remainder of Page Intentionally Blank] 

  
 49 

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

			
	ZIPCAR VEHICLE FINANCING LLC
		
	By:    	 	 

		 	Name: Edward Goldfinger
		 	Title: Treasurer

			
		
	Address:	 	25 First Street
		 	4th Floor,
		 	Cambridge, MA 02141
		
	Attention:	 	 Dean Breda

	Telephone:    	 	 (617) 995-4231

	 Fax:
	 	 (617) 995-4300

			
	
	ZIPCAR, INC.
		
	By:    	 	 

		 	Name: Edward Goldfinger
		 	Title: CFO

			
		
	 Address:
	 	25 First Street
		 	4th Floor,
		 	Cambridge, MA 02141
		
	Attention:	 	 Edward Goldfinger

	Telephone:    	 	 (617) 995-4231

	 Fax:
	 	 (617) 995-4300

  
 [Amended and
Reastated VFN Note Purchase Agreement] 

 
			
	 CREDIT AGRICOLE CORPORATE AND
 INVESTMENT BANK, as the Administrative
 Agent

		
	By:    	 	 

		 	Name: Jorge Fries
		 	Title: Managing Director
		
	By:	 	 

		 	Name: Leo Burrell
		 	Title: Managing Director

			
		
	Address:	 	 1301 Avenue of the Americas

		 	 New York, New York 10019-6022

		
	Attention:	 	Tina Kourmpetis
	Telephone:    	 	 (212) 261-7814

	Facsimile:	 	 (917) 849-5584

	
	 With electronic copy to: conduitsec@ca-cib.com;
 conduit.funding@ca-cib.com

  
 [Amended and
Restated Series 2010-1 Note Purchase Agreement] 

 
			
	 CREDIT AGRICOLE CORPORATE AND
 INVESTMENT BANK, as a Funding Agent

		
	By:    	 	 

		 	Name: Jorge Fries
		 	Title: Managing Director
		
	By:	 	 

		 	Name: Leo Burrell
		 	Title: Managing Director

			
		
	Address:	 	1301 Avenue of the Americas
		 	New York, New York 10019-6022
		
	Attention:	 	Tina Kourmpetis
	Telephone:    	 	(212) 261-7814
	Facsimile:	 	(917) 849-5584
	
	 With electronic copy to: conduitsec@ca-cib.com;
 conduit.funding@ca-cib.com

  
 [Amended and
Restated Series 2010-1 Note Purchase Agreement] 

 
			
	 CREDIT AGRICOLE CORPORATE AND
 INVESTMENT BANK, as a Conduit Committed Note Purchaser

		
	By:	 	 

		 	Name: Jorge Fries
		 	Title: Managing Director
		
	By:    	 	 

		 	Name: Leo Burrell
		 	Title: Managing Director

			
		
	Address:	 	 1301 Avenue of the Americas

		 	 New York, New York 10019-6022

		
	Attention:	 	Tina Kourmpetis
	Telephone:    	 	 (212) 261-7814

	Facsimile:	 	 (917) 849-5584

	
	 With electronic copy to: conduitsec@ca-cib.com;
 conduit.funding@ca-cib.com

  
 [Amended and
Restated Series 2010-1 Note Purchase Agreement] 

 
			
	 ATLANTIC ASSET SECURITIZATION LLC,
     As a Conduit Investor

			
	
	 By: CREDIT AGRICOLE CORPORATE AND
 INVESTMENT BANK, as Attorney-in-Fact

		
	By:	 	 

		 	Name: Jorge Fries
		 	Title: Managing Director
		
	By:    	 	 

		 	Name: Leo Burrell
		 	Title: Managing Director

			
	 Address:
	 	 1301 Avenue of the Americas

		 	 New York, New York 10019-6022

		
	Attention:	 	Tina Kourmpetis
	Telephone:    	 	 (212) 261-7814

	Facsimile:	 	 (917) 849-5584

			
	
	 With electronic copy to: conduitsec@ca-cib.com;
 conduit.funding@ca-cib.com

  
 [Amended and
Restated Series 2010-1 Note Purchase Agreement] 

 SCHEDULE I 
 ATLANTIC ASSET SECURITIZATION LLC, as a Conduit Investor 
 CRÉDIT AGRICOLE CORPORATE AND
INVESTMENT BANK, as a Conduit Committed Note Purchaser 
 Commitment Percentage: 100% 
 Conduit Committed Note Purchaser Percentage: 100% 
 Maximum Investor Group Principal Amount:
$50,000,000 
 CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Funding Agent and a Committed Note Purchaser, for ATLANTIC ASSET
SECURITIZATION LLC, as a Conduit Investor 

  
 [SERIES 2010-1
NOTE PURCHASE AGREEMENT] 

 EXHIBIT A 
 TO 
 SERIES 2010-1 NOTE PURCHASE AGREEMENT 

FORM OF ADVANCE REQUEST 
 ZIPCAR VEHICLE FINANCING LLC 
 SERIES 2010-1 VARIABLE FUNDING CAR SHARING
ASSET BACKED NOTES 
 To: Addressees on Schedule I hereto 
 Ladies and Gentlemen: 
 This Advance Request is delivered to you pursuant to
Section 2.03(a) of that certain Amended and Restated Series 2010-1 Note Purchase Agreement, dated as of May 11, 2011 (as amended, supplemented, restated or otherwise modified from time to time, the “Series 2010-1 Note Purchase
Agreement”) among Zipcar Vehicle Financing LLC, the Conduit Investors, the Committed Note Purchasers, and the Funding Agents named therein, Zipcar, Inc., as Administrator, Lessee and Servicer and Credit Agricole Corporate and Investment
Bank (formerly known as Credit Agricole Corporate and Investment Bank New York Branch) as Administrative Agent (in such capacity, the “Administrative Agent”). 
 Unless otherwise defined herein or as the context otherwise requires, terms used herein have the meaning assigned thereto under Section 1.01 of the Series 2010-1 Note Purchase Agreement, and if not
defined therein, shall have the meaning assigned thereto under Schedule I of the Base Indenture. 
 The undersigned hereby
requests that an Advance be made in the aggregate principal amount of $             on             ,
20    . The undersigned hereby acknowledges that any Advance that is not funded at the CP Rate by a Conduit Investor or otherwise shall be a Eurodollar Advance and the related Eurodollar Interest Period shall commence on
the date of such Eurodollar Advance and end on the next Payment Date. 
 The undersigned hereby certifies that (i) the
Aggregate Asset Amount as of the date hereof is an amount equal to $             and (ii) the Series 2010-1 Enhancement Amount as of the date hereof is an amount equal to
$            . In addition, the undersigned hereby certifies as to the amounts set forth on Schedule II hereto as of the date of, and after giving effect to, the Advance requested
hereby. 
 The undersigned hereby acknowledges that the delivery of this Advance Request and the acceptance by undersigned of
the proceeds of the Advance requested hereby constitute a representation and warranty by the undersigned that, on the date of such Advance, and before and after giving effect thereto and to the application of the proceeds therefrom, all conditions
set forth in Section 7.03 of the Series 2010-1 Note Purchase Agreement and Section 2.1(b) of the Series 2010-1 Supplement shall have been satisfied. 

 The undersigned agrees that if prior to the time of the Advance requested hereby any matter
certified to herein by it will not be true and correct at such time as if then made, it will immediately so notify both you and each Committed Note Purchaser and each Conduit Investor, if any, in your Investor Group. Except to the extent, if any,
that prior to the time of the Advance requested hereby you and each Committed Note Purchaser and each Conduit Investor, if any, in your Investor Group, shall receive written notice to the contrary from the undersigned, each matter certified to
herein shall be deemed once again to be certified as true and correct at the date of such Advance as if then made. 
 Please
wire transfer the proceeds of the Advance to the following account pursuant to the following instructions: 
 Deutsche Bank
Trust Company Americas 
 ABA# 021-001-033 
 DDA# 01419647 
 Beneficiary: Trust and Securities Services 

Payment Details: PORT ZC1001.7 
 Attn: Rosemary Cabrera/Irene Siegel 
 The undersigned has caused this Advance
Request to be executed and delivered, and the certification and warranties contained herein to be made, by its duly Authorized Officer this      day of
            , 20    . 
  

			
	ZIPCAR VEHICLE FINANCING LLC
		
	By:	 	  

	Title:	 	  

 SCHEDULE I 

 

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee
	Address:	  	60 Wall Street, 26th Floor, Mail Stop NYC60-2606
		  	New York, NY 10005
		
	Attention:	  	Alternative and Structured Finance Services
	Telephone:	  	(212) 250-2946
	Facsimile:	  	(212) 553-2460
	
	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Administrative Agent
	Address:	  	1301 Avenue of the Americas
		  	New York, New York 10019-6022
		
	Attention:	  	Tina Kourmpetis
	Telephone:	  	(212) 261-7814
	Facsimile:	  	(212) 459-3258
	
	With electronic copies to: conduitsec@ca-cib.com; conduit.funding@ca-cib.com
	
	CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as a Funding Agent and a Committed Note Purchaser, for ATLANTIC ASSET SECURITIZATION LLC, as a Conduit
Investor
	Address:	  	1301 Avenue of the Americas
		  	New York, New York 10019-6022
		
	Attention:	  	Tina Kourmpetis
	Telephone:	  	(212) 261-7814
	Facsimile:	  	(212) 459-3258
	
	With electronic copies to: conduitsec@ca-cib.com; conduit.funding@ca-cib.com

 SCHEDULE II 

[Attached] 

 ZIPCAR VEHICLE FINANCING LLC 

SERIES 2010-1 VARIABLE FUNDING CAR SHARING ASSET BACKED NOTES 

as of Funding Date
                     
 SERIES
2010-1 REQUIRED ASSET AMOUNT 
 the Required Asset Amount is computed as the result of the following: 

 

									
	(A)	  	Adjusted Principal Amount	  	$	0.00	  	  	
				
	(B)	  	Required Overcollateralization Amount	  	$	0.00	  	  	
		  		  	 	 	 	  	
	Series 2010-1 Required Asset Amount	  	$	0.00	  	  	=(A)+ (B)
		  		  	 	 	 	  	
			
	Adjusted Principal Amount equals:	  				  	
				
	(a)	  	Principal Amount	  	$	10,000,000.00	  	  	Input
				
	(b)	  	amount of cash and Permitted Investments under 2010-1 Collection and Excess Collections Accounts	  	$	14,000,000.00	  	  	Input
		  		  	 	 	 	  	
	Class A Adjusted Principal Amount:	  	$	0.00	  	  	max[((a) -(b)) & 0]
		  		  	 	 	 	  	
			
	Required Overcollateralization Amount equals:	  				  	
				
	(a)	  	Required Enhancement Amount	  	$	0.00	  	  	
				
	(b)	  	Available Reserve Account Amount	  	$	0.00	  	  	
				
	(c)	  	Letter of Credit Amount	  	$	0.00	  	  	
		  		  	 	 	 	  	
	Required Overcollateralization Amount:	  	$	0.00	  	  	=(a)-[(b) + ‘(c)]
		  		  	 	 	 	  	

 EXHIBIT B 
 TO 
 SERIES 2010-1 NOTE PURCHASE AGREEMENT 

FORM OF ASSIGNMENT AND ASSUMPTION AGREEMENT 
 ASSIGNMENT AND ASSUMPTION AGREEMENT, dated as of [        ], among [        ] (the “Transferor”), each
purchaser listed as an Acquiring Committed Note Purchaser on the signature pages hereof (each, an “Acquiring Committed Note Purchaser”), the Funding Agent with respect to such Acquiring Committed Note Purchaser listed in the
signature pages hereof (each, a “Funding Agent”), and Zipcar Vehicle Financing LLC, a Delaware limited liability company (the “Company”). 
 W I T N E S S E T H: 
 WHEREAS, this Assignment and Assumption Agreement is being executed and delivered in accordance with subsection 9.17(a) of the Amended and Restated Series 2010-1 Note Purchase Agreement, dated as of
May 11, 2011 (as from time to time amended, supplemented or otherwise modified in accordance with the terms thereof, the “Series 2010-1 Note Purchase Agreement”; terms defined therein being used herein as therein defined),
among the Company, the Conduit Investors, the Committed Note Purchasers, and the Funding Agents named therein, Zipcar, Inc., as Administrator, Lessee and Servicer, and Credit Agricole Corporate and Investment Bank (formerly known as Credit Agricole
Corporate and Investment Bank New York Branch), as Administrative Agent (in such capacity, the “Administrative Agent”); 
 WHEREAS, each Acquiring Committed Note Purchaser (if it is not already an existing Committed Note Purchaser) wishes to become a Committed Note Purchaser party to the Series 2010-1 Note Purchase Agreement;
and 
 WHEREAS, the Transferor is selling and assigning to each Acquiring Committed Note Purchaser, its rights, obligations and
commitments under the Series 2010-1 Note Purchase Agreement and the Series 2010-1 Notes; 
 NOW, THEREFORE, the parties hereto
hereby agree as follows: 
 Upon the execution and delivery of this Assignment and Assumption Agreement by each Acquiring
Committed Note Purchaser, each Funding Agent, the Transferor and the Company (the date of such execution and delivery, the “Transfer Issuance Date”), each Acquiring Committed Note Purchaser shall be a Committed Note Purchaser party
to the Series 2010-1 Note Purchase Agreement for all purposes thereof. 

 The Transferor acknowledges receipt from each Acquiring Committed Note Purchaser of an
amount equal to the purchase price, as agreed between the Transferor and such Acquiring Committed Note Purchaser (the “Purchase Price”), of the portion being purchased by such Acquiring Committed Note Purchaser (such Acquiring
Committed Note Purchaser’s “Purchased Percentage”) of the Transferor’s Commitment under the Series 2010-1 Note Purchase Agreement and the Transferor’s Investor Group Principal Amount. The Transferor hereby irrevocably
sells, assigns and transfers to each Acquiring Committed Note Purchaser, without recourse, representation or warranty, and each Acquiring Committed Note Purchaser hereby irrevocably purchases, takes and assumes from the Transferor, such Acquiring
Committed Note Purchaser’s Purchased Percentage of the Transferor’s Commitment under the Series 2010-1 Note Purchase Agreement and the Transferor’s Investor Group Principal Amount. 

The Transferor has made arrangements with each Acquiring Committed Note Purchaser with respect to (i) the portion, if any, to be
paid, and the date or dates for payment, by the Transferor to such Acquiring Committed Note Purchaser of any program fees, undrawn facility fee, structuring and commitment fees or other fees (collectively, the “Fees”) [heretofore
received] by the Transferor pursuant to Section 3.02 of the Series 2010-1 Note Purchase Agreement prior to the Transfer Issuance Date [and (ii) the portion, if any, to be paid, and the date or dates for payment, by such Acquiring
Committed Note Purchaser to the Transferor of Fees received by such Acquiring Committed Note Purchaser pursuant to the Series 2010-1 Supplement from and after the Transfer Issuance Date]. 

From and after the Transfer Issuance Date, amounts that would otherwise by payable to or for the account of the Transferor pursuant to
the Series 2010-1 Supplement or the Series 2010-1 Note Purchase Agreement shall, instead, be payable to or for the account of the Transferor and the Acquiring Committed Note Purchasers, as the case may be, in accordance with their respective
interests as reflected in this Assignment and Assumption Agreement, whether such amounts have accrued prior to the Transfer Issuance Date or accrue subsequent to the Transfer Issuance Date. 

Each of the parties to this Assignment and Assumption Agreement agrees that at any time and from time to time upon the written request of
any other party, it will execute and deliver such further documents and do such further acts and things as such other party may reasonably request in order to effect the purposes of this Assignment and Assumption Agreement. 

 By executing and delivering this Assignment and Assumption Agreement, the Transferor and
each Acquiring Committed Note Purchaser confirm to and agree with each other and the Committed Note Purchasers as follows: (i) other than the representation and warranty that it is the legal and beneficial owner of the interest being assigned
hereby free and clear of any adverse claim, the Transferor makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Series 2010-1 Supplement,
the Series 2010-1 Note Purchase Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Indenture, the Series 2010-1 Notes, the Related Documents or any instrument or document furnished pursuant
thereto; (ii) the Transferor makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Company or the performance or observance by the Company of any of the Company’s obligations under
the Indenture, the Related Documents or any other instrument or document furnished pursuant hereto; (iii) each Acquiring Committed Note Purchaser confirms that it has received a copy of the Indenture, the Series 2010-1 Note Purchase Agreement
and such other Related Documents and other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption Agreement; (iv) each Acquiring Committed Note Purchaser
will, independently and without reliance upon the Administrative Agent, the Transferor or any other Investor Group and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in
taking or not taking action under the Series 2010-1 Note Purchase Agreement; (v) each Acquiring Committed Note Purchaser appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers
under the Series 2010-1 Note Purchase Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with Article V of the Series 2010-1 Note Purchase
Agreement; (vi) each Acquiring Committed Note Purchaser appoints and authorizes a Funding Agent to take such action as agent on its behalf and to exercise such powers under the Series 2010-1 Note Purchase Agreement as are delegated to such
Funding Agent by the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with Article V of the Series 2010-1 Note Purchase Agreement; (vii) each Acquiring Committed Note Purchaser agrees that it will
perform in accordance with their terms all of the obligations which by the terms of the Series 2010-1 Note Purchase Agreement are required to be performed by it as an Acquiring Committed Note Purchaser and (viii) the Acquiring Committed Note
Purchaser hereby represents and warrants to ZVF and the Administrator that the representations and warranties contained in Section 6.03 of the Series 2010-1 Note Purchase Agreement are true and correct with respect to the Acquiring
Committed Note Purchaser on and as of the date hereof and the Acquiring Committed Note Purchaser shall be deemed to have made such representations and warranties contained in Section 6.03 of the Series 2010-1 Note Purchase Agreement on
and as of the date hereof. 
 Schedule I hereto sets forth the revised Commitment Percentages of the Transferor and each
Acquiring Committed Note Purchaser as well as administrative information with respect to each Acquiring Committed Note Purchaser and its Funding Agent. 
 This Assignment and Assumption Agreement and all matters arising under or in any manner relating to this Assignment and Assumption Agreement shall be governed by, and construed in accordance with, the
laws of the State of New York, and the obligations, rights and remedies of the parties hereto shall be determined in accordance with such law. 

 IN WITNESS WHEREOF, the parties hereto have caused this Assignment and Assumption Agreement
to be executed by their respective duly authorized officers as of the date first set forth above. 
  

			
	[        ], as Transferor
		
	By:	 	  

		 	Title:
		
	By:	 	  

		 	Title:
	
	[        ], as Acquiring Committed Note Purchaser
		
	By:	 	  

		 	Title:
	
	[        ], as Funding Agent
		
	By:	 	  

		 	Title:

							
	[CONSENTED AND ACKNOWLEDGED:
	
	ZIPCAR VEHICLE FINANCING LLC
		
	By:	 	  

		 	Title:	 	]

 SCHEDULE I 
 LIST OF ADDRESSES FOR NOTICES 
 AND OF COMMITMENT PERCENTAGES

 CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Administrative Agent 

 

					
	Address:	  	1301 Avenue of the Americas
		  	New York, New York 10019-6022
		
	Attention:	  	Tina Kourmpetis
	Telephone:	  	(212) 261-7814
	Facsimile:	  	(212) 459-3258

  

			
	[TRANSFEROR]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

  

			
	 Prior Commitment Percentage:
	  	[        ]
		
	Revised Commitment Percentage:	  	[        ]
		
	Prior Investor Group Principal Amount:	  	[        ]
		
	Revised Investor Group Principal Amount:	  	[        ]

  

			
	[TRANSFEROR FUNDING AGENT]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

  

			
	[ACQUIRING COMMITTED NOTE PURCHASER]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

			
	Prior Commitment Percentage:	  	[        ]
		
	Revised Commitment Percentage:	  	[        ]
		
	Prior Investor Group Principal Amount:	  	[        ]
		
	Revised Investor Group Principal Amount:	  	[        ]
		
	Type of Committed Note Purchaser:	  	 [Conduit Committed Note Purchaser]
 [Non-Conduit Committed Note Purchaser]

  

			
	[ACQUIRING COMMITTED NOTE PURCHASER FUNDING AGENT]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

 EXHIBIT C 
 TO 
 SERIES 2010-1 NOTE PURCHASE AGREEMENT 

FORM OF INVESTOR GROUP SUPPLEMENT 
 INVESTOR GROUP SUPPLEMENT, dated as of [ ], among (i) [ ] (the “Transferor Investor Group”), (ii) [ ] (the “Acquiring Investor Group”), (iii) the Funding
Agent with respect to the Acquiring Investor Group listed in the signature pages hereof (each, a “Funding Agent”), and (iv) Zipcar Vehicle Financing LLC, a Delaware limited liability company (the “Company”).

 W I T N E S S E T H: 

WHEREAS, this Investor Group Supplement is being executed and delivered in accordance with subsection 9.17(c) of the Amended and Restated
Series 2010-1 Note Purchase Agreement, dated as of May 11, 2011 (as from time to time amended, supplemented or otherwise modified in accordance with the terms thereof, the “Series 2010-1 Note Purchase Agreement”; terms defined
therein being used herein as therein defined), among the Company, the Conduit Investors, the Committed Note Purchasers, the Funding Agents named therein, Zipcar, Inc., as Administrator, Lessee and Servicer, and Credit Agricole Corporate and
Investment Bank (formerly known as Credit Agricole Corporate and Investment Bank New York Branch), as Administrative Agent (in such capacity, the “Administrative Agent”); 

WHEREAS, the Acquiring Investor Group wishes to become a Conduit Investor and a Committed Note Purchaser with respect to such Conduit
Investor under the Series 2010-1 Note Purchase Agreement; and 
 WHEREAS, the Transferor Investor Group is selling and assigning
to the Acquiring Investor Group its respective rights, obligations and commitments under the Series 2010-1 Note Purchase Agreement and the Series 2010-1 Notes with respect to the percentage of its total commitment specified on Schedule I attached
hereto; 
 NOW, THEREFORE, the parties hereto hereby agree as follows: 

Upon the execution and delivery of this Investor Group Supplement by the Acquiring Investor Group, each Funding Agent with respect
thereto, the Transferor Investor Group and the Company (the date of such execution and delivery, the “Transfer Issuance Date”), [the Conduit Investor and] the Committed Note Purchasers with respect to the Acquiring Investor Group
shall be parties to the Series 2010-1 Note Purchase Agreement for all purposes thereof. 

 The Transferor Investor Group acknowledges receipt from the Acquiring Investor Group of an
amount equal to the purchase price, as agreed between the Transferor Investor Group and the Acquiring Investor Group (the “Purchase Price”), of the portion being purchased by the Acquiring Investor Group (the Acquiring Investor
Group’s “Purchased Percentage”) of the Commitment Amount with respect to the Committed Note Purchasers included in the Transferor Investor Group under the Series 2010-1 Note Purchase Agreement and the Transferor Investor
Group’s Investor Group Principal Amount. The Transferor Investor Group hereby irrevocably sells, assigns and transfers to the Acquiring Investor Group, without recourse, representation or warranty, and the Acquiring Investor Group hereby
irrevocably purchases, takes and assumes from the Transferor Investor Group, the Acquiring Investor Group’s Purchased Percentage of the Commitment with respect to the Committed Note Purchasers included in the Transferor Investor Group under the
Series 2010-1 Note Purchase Agreement and the Transferor Investor Group’s Investor Group Principal Amount. 
 The
Transferor Investor Group has made arrangements with the Acquiring Investor Group with respect to (i) the portion, if any, to be paid, and the date or dates for payment, by the Transferor Investor Group to such Acquiring Investor Group of any
program fees, undrawn facility fee, structuring and commitment fees or other fees (collectively, the “Fees”) [heretofore received] by the Transferor Investor Group pursuant to Section 3.02 of the Series 2010-1 Note
Purchase Agreement prior to the Transfer Issuance Date [and (ii) the portion, if any, to be paid, and the date or dates for payment, by such Acquiring Investor Group to the Transferor Investor Group of Fees received by such Acquiring Investor
Group pursuant to the Series 2010-1 Supplement from and after the Transfer Issuance Date]. 
 From and after the Transfer
Issuance Date, amounts that would otherwise be payable to or for the account of the Transferor Investor Group pursuant to the Series 2010-1 Supplement or the Series 2010-1 Note Purchase Agreement shall, instead, be payable to or for the account of
the Transferor Investor Group and the Acquiring Investor Group, as the case may be, in accordance with their respective interests as reflected in this Investor Group Supplement, whether such amounts have accrued prior to the Transfer Issuance Date
or accrue subsequent to the Transfer Issuance Date. 
 Each of the parties to this Investor Group Supplement agrees that at any
time and from time to time upon the written request of any other party, it will execute and deliver such further documents and do such further acts and things as such other party may reasonably request in order to effect the purposes of this
Investor Group Supplement. 

 By executing and delivering this Investor Group Supplement, the Transferor Investor Group
and the Acquiring Investor Group confirm to and agree with each other as follows: (i) other than the representation and warranty that it is the legal and beneficial owner of the interest being assigned hereby free and clear of any adverse
claim, the Transferor Investor Group makes no representation or warranty and assumes no responsibility with respect to any statements, warranties or representations made in or in connection with the Series 2010-1 Supplement, the Series 2010-1 Note
Purchase Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Indenture, the Series 2010-1 Notes, the Related Documents or any instrument or document furnished pursuant thereto; (ii) the
Transferor Investor Group makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Company or the performance or observance by the Company of any of the Company’s obligations under the
Indenture, the Series 2010-1 Note Purchase Agreement, the Related Documents or any other instrument or document furnished pursuant hereto; (iii) the Acquiring Investor Group confirms that it has received a copy of the Indenture, the Series
2010-1 Note Purchase Agreement and such other Related Documents and other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Investor Group Supplement; (iv) the Acquiring
Investor Group will, independently and without reliance upon the Administrative Agent, the Transferor Investor Group or any other Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Series 2010-1 Note Purchase Agreement; (v) the Acquiring Investor Group appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such
powers under the Series 2010-1 Note Purchase Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with Article V of the Series 2010-1 Note
Purchase Agreement; (vi) each member of the Acquiring Investor Group appoints and authorizes its respective Funding Agent, listed on Schedule I hereto, to take such action as agent on its behalf and to exercise such powers under the Series
2010-1 Note Purchase Agreement as are delegated to such Funding Agent by the terms thereof, together with such powers as are reasonably incidental thereto, all in accordance with Article V of the Series 2010-1 Note Purchase Agreement,
(vii) each member of the Acquiring Investor Group agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Series 2010-1 Note Purchase Agreement are required to be performed by it as a member
of the Acquiring Investor Group and (viii) each member of the Acquiring Investor Group hereby represents and warrants to ZVF and the Administrator that the representations and warranties contained in Section 6.03 of the Series
2010-1 Note Purchase Agreement are true and correct with respect to the Acquiring Investor Group on and as of the date hereof and the Acquiring Investor Group shall be deemed to have made such representations and warranties contained in
Section 6.03 of the Series 2010-1 Note Purchase Agreement on and as of the date hereof. 

 Schedule I hereto sets forth the revised Commitment Percentages of the Transferor Investor
Group and the Acquiring Investor Group, as well as administrative information with respect to the Acquiring Investor Group and its Funding Agent. 
 This Investor Group Supplement and all matters arising under or in any manner relating to this Investor Group Supplement shall be governed by, and construed in accordance with, the laws of the State of
New York, and the obligations, rights and remedies of the parties hereto shall be determined in accordance with such law. 

 IN WITNESS WHEREOF, the parties hereto have caused this Investor Group Supplement to be
executed by their respective duly authorized officers as of the date first set forth above. 
  

			
	[        ], as Transferor Investor Group
		
	By:	 	  

	Title:	 	
	
	[        ], as Transferor Investor Group
		
	By:	 	  

	Title:	 	
	
	[        ], as Acquiring Investor Group
		
	By:	 	  

	Title:	 	
	
	[        ], as Acquiring Investor Group
		
	By:	 	  

	Title:	 	
	
	[        ], as Funding Agent
		
	By:	 	  

	Title:	 	

					
	 [CONSENTED AND ACKNOWLEDGED:
	 	
		
	ZIPCAR VEHICLE FINANCING LLC	 	
		
	By:	 	  

		 	Title:	 	]

 SCHEDULE I 
 LIST OF ADDRESSES FOR NOTICES 
 AND OF COMMITMENT PERCENTAGES

 CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, as Administrative Agent 

 

					
	Address:	  	1301 Avenue of the Americas
		  	New York, New York 10019-6022
		
	Attention:	  	Tina Kourmpetis
	Telephone:	  	(212) 261-7814
	Facsimile:	  	(212) 459-3258

  

			
	[TRANSFEROR]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

  

			
	Prior Commitment Percentage:	  	[        ]
		
	Revised Commitment Percentage:	  	[        ]
		
	Prior Investor Group Principal Amount:	  	[        ]
		
	Revised Investor Group Principal Amount:	  	[        ]

  

			
	[TRANSFEROR FUNDING AGENT]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

							
	[ACQUIRING INVESTOR GROUP]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

  

			
	Prior Commitment Percentage:	  	[        ]
		
	Revised Commitment Percentage:	  	[        ]
		
	Prior Investor Group Principal Amount:	  	[        ]
		
	Revised Investor Group Principal Amount:	  	[        ]
		
	Type of Committed Note Purchaser:	  	 [Conduit Committed Note Purchaser]
 [Non-Conduit Committed Note Purchaser]

		
	Method for calculating CP Rate:	  	 [pursuant to clause (i) of the definition thereof]
 [                                 
                           ]

  

			
	[ACQUIRING INVESTOR FUNDING AGENT]
		
	Address:	  	[        ]
		  	Attention: [        ]
		  	Telephone: [        ]
		  	Facsimile: [        ]

 EXHIBIT D 
 TO 
 SERIES 2010-1 NOTE PURCHASE AGREEMENT 

ADDENDUM TO AGREEMENT 
 Each of the undersigned: 
 (i) confirms that it has received a copy of the Amended
and Restated Series 2010-1 Note Purchase Agreement, dated as of May 11, 2011 (as from time to time amended, supplemented or otherwise modified in accordance with the terms thereof, the “Series 2010-1 Note Purchase Agreement”;
terms defined therein being used herein as therein defined), among ZVF, the Conduit Investors, the Committed Note Purchasers, and the Funding Agents named therein, Zipcar, Inc., as Administrator, Lessee and Servicer, and Credit Agricole Corporate
and Investment Bank, as Administrative Agent (in such capacity, the “Administrative Agent”) and such other agreements, documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into
this Addendum; 
 (ii) appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to
exercise such powers under the Series 2010-1 Note Purchaser Agreement as are delegated to the Administrative Agent by the terms thereof, together with such powers as are reasonably incidental thereto; 

(iii) agrees to all of the provisions of the Series 2010-1 Note Purchase Agreement; 

(iv) agrees that the related Maximum Investor Group Principal Amount is
$             (including any portion of the Maximum Investor Group Principal Amount of such Investor Group acquired pursuant to an assignment to such Investor Group as an Acquiring
Investor Group) and the related Committed Note Purchaser’s Committed Note Purchaser Percentage is          percent (    %); 

(v) [agrees that the CP Rate applicable to the Conduit Investor shall be calculated [pursuant to clause (i) of the definition
thereof] [                    ];] 
 (vi) designates              as the Funding Agent for itself, and such Funding Agent hereby accepts such appointment; 

(vii) becomes a party to the Series 2010-1 Note Purchase Agreement and a Conduit Investor, Committed Note Purchaser or Funding
Agent, as the case may be, thereunder with the same effect as if the undersigned were an original signatory to the Series 2010-1 Note Purchase Agreement; and 

 (viii) each member of the Additional Investor Group hereby represents and
warrants that the representations and warranties contained in Section 6.03 of the Series 2010-1 Note Purchase Agreement are true and correct with respect to the Additional Investor Group on and as of the date hereof and the Additional Investor
Group shall be deemed to have made such representations and warranties contained in Section 6.03 of the Series 2010-1 Note Purchase Agreement on and as of the date hereof. The notice address for each member of the Additional Investor Group is
as follows: 
 [INSERT CONTACT INFORMATION FOR EACH ENTITY] 

This Addendum shall be effective when a counterpart hereof, signed by the undersigned, ZVF and the Administrative Agent has been
delivered to the parties hereto. 
 This Addendum shall be governed by and construed in accordance with the laws of the State of
New York. 
 IN WITNESS WHEREOF, the undersigned have caused this Addendum to be duly executed and delivered by its duly
authorized officer or agent as of this      day of             , 20    . 

 

			
	 [NAME OF ADDITIONAL FUNDING AGENT],
     as Funding Agent

		
	By:	 	  

		 	Name:
		 	Title:
	
	 [[NAME OF ADDITIONAL CONDUIT
     PURCHASER], as Conduit Investor

		
	By:	 	  

		 	Name:
		 	Title:]
	
	 [NAME OF ADDITIONAL COMMITTED
     PURCHASER], as [Conduit] [Non-Conduit]
     Committed
Note Purchaser

		
	By:	 	  

		 	Name:
		 	Title:

			
	 Acknowledged and Agreed to as of the date
 first above written:

	
	ZIPCAR VEHICLE FINANCING LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	 CREDIT AGRICOLE CORPORATE AND
     INVESTMENT BANK, as
     Administrative
Agent

		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT E 
 TO 
 SERIES 2010-1 NOTE PURCHASE AGREEMENT 

FORM OF CONDUIT INVESTOR AND COMMITTED NOTE PURCHASER 
 TAX CERTIFICATE 
 [Date] 
 Re: Zipcar Vehicle Financing LLC Series 2010-1 Variable Funding Car Sharing Asset Backed Notes (the “Series 2010-1 Notes”) 

Reference is hereby made to the Amended and Restated Base Indenture (the “Base Indenture”), dated as of May 11, 2011,
between Zipcar Vehicle Financing LLC, a special purpose limited liability company established under the laws of Delaware (the “Issuer”) and Deutsche Bank Trust Company Americas, a New York banking corporation (the “Trustee”).
Capitalized terms used but not defined herein shall have the meanings assigned to them in the Base Indenture and, if not defined therein, shall have the meanings assigned to them in the Series 2010-1 Supplement (defined below). 

This letter relates to the issuance by the Issuer to
                                        
(the “Initial Noteholders”) of a beneficial ownership interest in U.S. $[            ] aggregate principal amount of the Series 2010-1 Notes issued under the Amended and
Restated Series 2010-1 Supplement to the Base Indenture, dated as of May 11, 2011 (“Series 2010-1 Supplement”) by and among the Issuer, the Trustee and Deutsche Bank Trust Company Americas, as securities intermediary. 

In connection with such issuance, and in respect of such Series 2010-1 Notes, each of the Initial Noteholders hereby represents, warrants
and covenants for the benefit of the Issuer and the Trustee that: 
 It shall timely furnish the Issuer or its agents any U.S.
federal income tax form or certification (such as IRS Form W-9 (Request for Taxpayer Identification Number and Certification), or any successors to such IRS form) that the Issuer or its agents may reasonably request and shall update or replace such
form or certification in accordance with its terms or its subsequent amendments. It agrees to provide any certification or information that is reasonably requested by the Issuer (a) to permit the Issuer to make payments to it without, or at a
reduced rate of, withholding, (b) to enable the Issuer to qualify for a reduced rate of withholding in any jurisdiction from or through which the Issuer receives payments on its assets, or (c) to enable the Issuer or its agents to satisfy
reporting and other obligations in respect of the Series 2010-1 Notes under the Code and Treasury Regulations. 
 It agrees to
treat the Series 2010-1 Notes as debt for all U.S. federal income tax purposes and shall take no action inconsistent with such treatment unless required by law. 

 It agrees to comply with the following provisions: 

(a) It will not (A) acquire, sell, transfer, assign, pledge or otherwise dispose of any of its Series 2010-1 Notes (or any interest
therein that is described in Treasury Regulations Section 1.7704-1(a)(2)(i)(B)) on or through (x) a United States national, regional or local securities exchange, (y) a foreign securities exchange or (z) an interdealer quotation
system that regularly disseminates firm buy or sell quotations by identified brokers or dealers (including, without limitation, the National Association of Securities Dealers Automated Quotation System) ((x), (y) and (z), collectively, an
“Exchange”) or (B) cause any of its Series 2010-1 Notes or any interest therein to be marketed on or through an Exchange. 
 (b) It will not enter into any financial instrument payments on which, or the value of which, is determined in whole or in part by reference to the Series 2010-1 Notes, or the Issuer (including the amount
of Issuer distributions or interest on the Series 2010-1 Notes, the value of the Issuer’s assets, or the result of the Issuer’s operations), or any contract that otherwise is described in Treasury Regulations
Section 1.7704-1(a)(2)(i)(B), without the consent of a majority of the Series 2010-1 Noteholders. 
 (c) If it is a
partnership, grantor trust or S corporation, less than 50% of the value of any person’s interest in such partnership, grantor trust or S corporation is attributable to such Initial Noteholder’s interest in the Issuer. 

(d) It agrees that it may not directly or indirectly assign, participate, pledge, hypothecate, rehypothecate, exchange or otherwise
dispose of or transfer in any manner (each a “Transfer”) its interest in the Series 2010-1 Notes unless the transferee delivers a transfer certificate to the Registrar and the Issuer in the form of Exhibit I of the Series 2010-1
Supplement. Any purported Transfer that does not satisfy the above mentioned conditions shall be null, void and of no effect. 

(e) It agrees that the Issuer is required to monitor all transfers of Series 2010-1 Notes so that the aggregate number of Holders of the
Series 2010-1 Notes is limited to 25 or fewer beneficial holders. In monitoring such transfers, the Issuer will rely solely and exclusively (without any duty to make further inquiry, including without any duty to inquire whether a Holder holds
Series 2010-1 Notes for the account of one or more other persons) on (i) information provided to it on the Series 2010-1 Closing Date with respect to the number of Holders on the Series 2010-1 Closing Date and (ii) any transfer
certificates received by the Issuer subsequent to the Series 2010-1 Closing Date. 
 (f) Any transfer that would cause the
Issuer to be unable to rely on the “private placement” safe harbor of Treasury Regulations Section 1.7704-1(h) will be void and of no force or effect unless the Issuer has received an Opinion of Counsel that notwithstanding such
transfer the Issuer will be treated as a partnership or disregarded entity and not as an entity taxable as a corporation for U.S. federal income tax purposes. 
 (g) It represents that it is not part of any arrangement a principal purpose of which is to cause the interests in the Issuer to be treated as owned by 100 persons or less within the meaning of Treasury
Regulations Section 1.7704-1(h). 

 Each of the Initial Noteholders understands that the representations, warranties and
covenants contained in paragraphs (a) through (g) above are intended to permit the Issuer to rely, if necessary, on the “private placement” safe harbor from classification as a publicly traded partnership in Treasury Regulations
Section 1.7704-1(h). 
 Its taxpayer identification number is
                    . 
 Its fiscal year for federal income tax purposes ends in                     . 

The date of issuance is
                    . 
 Its address for notices is:                     . 

Each of the Initial Noteholders agrees that it and the transferee will be required to reimburse the Issuer for any costs incurred by the
Issuer in connection with any transfer. 
 Each of the Initial Noteholders acknowledges that the Issuer, the Trustee, and others
will rely upon the truth and accuracy of the foregoing acknowledgements, representations and agreements and agrees that, if any of the acknowledgements, representations or warranties made or deemed to have been made by it in connection with its
purchase of the Series 2010-1 Notes are no longer accurate, it will promptly notify the Issuer and the Trustee. 
 IN WITNESS WHEREOF, I have
executed this Initial Noteholder certificate as of the date first written above. 
  

	
	
	  
	
[                    
]

	
[                    
]

 EXHIBIT F 
 TO 
 SERIES 2010-1 NOTE PURCHASE AGREEMENT 

QUARTERLY FLEET REPORT 

 CONFIDENTIAL 
 QUARTERLY FLEET REPORT 
 ZIPCAR VEHICLE FINANCING, LLC 

VARIABLE FUNDING CAR SHARING ASSET BACKED NOTES 
 SERIES 2010-1 
 Reporting Date June 27, 2011 

As of May-31 
  

	I.	US MODEL YEAR ACQUISITION BY MANUFACTURER 

  

																																	
	 	  	2013	 	 	2012	 	 	2011	 	 	2010	 
	 Manufacturer
	  	Number of
Vehicles	 	 	Fleet Mix	 	 	Number of
Vehicles	 	 	Fleet Mix	 	 	Number of
Vehicles	 	 	Fleet Mix	 	 	Number of
Vehicles	 	 	Fleet Mix	 
	 Audi
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 BMW/Mini
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Daimler/Smart
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Fiat/Alfa Romeo
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Ford
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Honda/Acura
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Hyundai / Kia
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Mazda
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Nissan/Infiniti
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Subaru
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Toyota/Scion/Lexus
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Volkswagen
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
	 Volvo
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
		  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 Total Acquisitions
	  	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	]% 
		  	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

  

	II.	US FLEET DEPRECIATION EXPENSE 

  

																	
	  	  	2013	 	 	2012	 	 	2011	 	 	2010	 
	 Fleet Capitalized Cost ($)
	  	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 
	 Number of Vehicles
	  	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 
	 Average Capitalized Cost ($)
	  	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 
	 Average Monthly Depreciation per Vehicle ($)
	  	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 
	 Monthly Depreciation as a % of Avg. Capitalized Cost
	  	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 

  

	III.	US FLEET STATUS REPORT AND FLEET DISPOSITION HISTORY BY MODEL YEAR 

 

																																																					
	 Model Year
	 	Total
Capitalized
Cost	 	 	Capitalized
Cost as
Percent
of
Total
Vehicles	 	 	Total
Number 
of
Vehicles	 	 	Average
Capitalized
Cost	 	 	Average
Mileage	 	 	Average
Days 
in
Service	 	 	Average
Net
Book
Value	 	 	Average
Sale
Proceeds	 	 	Average
Gain/
(Loss)
on Sale	 	 	Average
Monthly
Holding
Cost per
Vehicle	 	 	Monthly
Holding
Cost as a
% of
Avg. Cap.
Cost	 	 	Average
Gain/
(Loss) as
% of
Total Cap.
Cost	 	 	Average
Gain/
(Loss)
as % of
Net
Book
Value	 
	 2013
	 				 				 				 				 				 				 				 				 				 				 				 				 			
	 Total Vehiclese
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Active
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Turnback
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Salvage
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Thefts /Conversions
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Inactive
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 2012
	 				 				 				 				 				 				 				 				 				 				 				 				 			
	 Total Vehiclese
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Active
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Turnback
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Salvage
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Thefts / Conversions
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Inactive
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 2011
	 				 				 				 				 				 				 				 				 				 				 				 				 			
	 Total Vehiclese
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Active
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Turnback
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Salvage
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Thefts / Conversions
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Inactive
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 2010
	 				 				 				 				 				 				 				 				 				 				 				 				 			
	 Total Vehiclese
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Active
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Turnback
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Salvage
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Thefts / Conversions
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]% 
	 Inactive
	 	 	[    	] 	 	 	[    	]% 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	] 	 	 	[    	]% 	 	 	[    	]% 	 	 	[    	]%

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00192-of-00352.parquet"}]]