Document:

Pledge Agreement

 Exhibit 10.35 
 PLEDGE AGREEMENT 
 THIS PLEDGE AGREEMENT dated as of
December 16, 2011 (as amended, modified, restated or supplemented from time to time, the “Pledge Agreement”) is by and among the parties identified as “Pledgors” on the signature pages hereto and such other parties as
may become Pledgors hereunder after the date hereof (individually a “Pledgor”, and collectively the “Pledgors”) and Bank of America, N.A., as administrative agent (in such capacity, the “Administrative
Agent”) for the Secured Parties (defined below). 
 W I T N E S S E T H 

WHEREAS, a credit facility has been established in favor of The Active Network, Inc., a Delaware corporation (the
“Borrower”), pursuant to the terms of that certain Credit Agreement dated as of the date hereof (as amended, modified, supplemented or extended from time to time, the “Credit Agreement”) among the Borrower, the
Guarantors from time to time party thereto, the Lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; 
 WHEREAS, this Pledge Agreement is required under the terms of the Credit Agreement; and 
 NOW, THEREFORE, in consideration of these premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 1. Definitions. 
 (a) Capitalized terms used and not otherwise defined herein shall have the meanings provided in the Credit Agreement. 
 (b) As used herein, the following terms shall have the meanings assigned thereto in the UCC: Accession, Financial Asset, Proceeds and Security. 

(c) As used herein, the following terms shall have the meanings set forth below: 

“Administrative Agent” has the meaning provided in the introductory paragraph hereof. 

“Non-Voting Equity” has the meaning provided in Section 2 hereof. 

“Pledged Collateral” has the meaning provided in Section 2 hereof. 

“Pledged Shares” has the meaning provided in Section 2 hereof. 

“Secured Obligations” means, without duplication, (i) all Obligations and (b) all costs and
expenses incurred in connection with enforcement and collection of the Obligations, including reasonable out-of-pocket fees, charges and disbursements of counsel. 

“Secured Parties” means, collectively, the Lenders and any other holder of the Secured Obligations and
“Secured Party” means any one of them. 

 “UCC” means the Uniform Commercial Code as in effect from
time to time in the State of New York. 
 “ULC” means an unlimited liability company.

 “ULC Shares” means all of the issued and outstanding capital stock of a ULC at any time owned
by a Pledgor. 
 “Voting Equity” has the meaning provided in Section 2 hereof.

 2. Pledge and Grant of Security Interest. To secure the prompt payment and performance in full when due, whether by
lapse of time, acceleration, mandatory prepayment or otherwise, of the Secured Obligations, each Pledgor hereby grants, pledges and assigns to the Administrative Agent, for the benefit of the Secured Parties, a continuing security interest in, and a
right to set-off against, any and all right, title and interest of such Pledgor in and to the following, whether now owned or existing or owned, acquired, or arising hereafter (collectively, the “Pledged Collateral”): 

(a) Pledged Shares. (i) One hundred percent (100%) (or, if less, the full amount owned by such Pledgor)
of the issued and outstanding Equity Interests directly owned by such Pledgor of each Domestic Subsidiary set forth on Schedule 2(a) attached hereto and (ii) sixty-five percent (65%) (or, if less, the full amount owned by such
Pledgor), or such greater percentage that, due to a change in an applicable Law after the date hereof, (1) could not reasonably be expected to cause the undistributed earnings of such Material Foreign Subsidiary as determined for United States
federal income tax purposes to be treated as a deemed dividend to such Foreign Subsidiary’s United States parent and (2) could not reasonably be expected to cause any material adverse tax consequences) of the issued and outstanding shares
of Equity Interests entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) (“Voting Equity”) and one hundred percent (100%) (or, if less, the full amount owned by such Pledgor) of the issued and
outstanding Equity Interests not entitled to vote (within the meaning of Treas. Reg. Section 1.956-2(c)(2)) (“Non-Voting Equity”) owned by such Pledgor of each Material Foreign Subsidiary directly owned by such Pledgor set
forth on Schedule 2(a) attached hereto, in each case together with the certificates (or other agreements or instruments), if any, representing such Equity Interests, and all options and other rights, contractual or otherwise, with respect
thereto (collectively, together with the Equity Interests described in Section 2(b) and 2(c) below, the “Pledged Shares”), including, but not limited to, the following, subject to the limitations set forth in
clause (ii) above to the extent applicable: 
 (A) all shares, securities, membership interests and other
Equity Interests or other property representing a dividend or other distribution on or in respect of any of the Pledged Shares, or representing a distribution or return of capital upon or in respect of the Pledged Shares, or resulting from a stock
split, revision, reclassification or other exchange therefor, and any other dividends, distributions, subscriptions, warrants, cash, securities, instruments, rights, options or other property issued to or received or receivable by the holder of, or
otherwise in respect of, the Pledged Shares; and 
 (B) without affecting the obligations of the Pledgors under
any provision prohibiting such action hereunder or under the Credit Agreement, in the event of any consolidation or merger involving the issuer of any Pledged Shares and in which such issuer is not the surviving entity, all Equity Interests of the
successor entity formed by or resulting from such consolidation or merger. 

  
 2 

 (b) Additional Shares. (i) One hundred percent (100%) (or,
if less, the full amount owned by such Pledgor) of the issued and outstanding Equity Interests directly owned by such Pledgor of any Person that hereafter becomes a Domestic Subsidiary and (ii) sixty-five percent (65%) (or, if less, the
full amount owned by such Pledgor, or such greater percentage that, due to a change in an applicable Law after the date hereof, (1) could not reasonably be expected to cause the undistributed earnings of such Material Foreign Subsidiary as
determined for United States federal income tax purposes to be treated as a deemed dividend to such Material Foreign Subsidiary’s United States parent and (2) could not reasonably be expected to cause any material adverse tax consequences)
of the Voting Equity and one hundred percent (100%) (or, if less, the full amount owned by such Pledgor) of the Non-Voting Equity directly owned by such Pledgor of any Person that hereafter becomes a Material Foreign Subsidiary directly owned
by such Pledgor, including, without limitation, the certificates (or other agreements or instruments) representing such Equity Interests. 
 (c) Accessions and Proceeds. All Accessions and all Proceeds of any and all of the foregoing. 
 Without limiting the generality of the foregoing, it is hereby specifically understood and agreed that a Pledgor may from time to time hereafter deliver additional Equity Interests to the Administrative
Agent as collateral security for the Secured Obligations. Upon delivery to the Administrative Agent, such additional Equity Interests shall be deemed to be part of the Pledged Collateral of such Pledgor and shall be subject to the terms of this
Pledge Agreement whether or not Schedule 2(a) is amended to refer to such additional Equity Interests. 
 3. Security
for Secured Obligations. The security interest created hereby in the Pledged Collateral of each Pledgor constitutes continuing collateral security for all of the Secured Obligations (subject to Section 25 hereof). 

4. Delivery of the Pledged Collateral. Each Pledgor hereby agrees that: 

(a) Delivery of Certificates. Each Pledgor shall deliver to the Administrative Agent (i) simultaneously with
or promptly following the execution and delivery of this Pledge Agreement, all certificates representing the Pledged Shares of such Pledgor and (ii) promptly upon the receipt thereof by or on behalf of a Pledgor, all other certificates and
instruments constituting Pledged Collateral of a Pledgor. Prior to delivery to the Administrative Agent, all such certificates and instruments constituting Pledged Collateral of a Pledgor shall be held in trust by such Pledgor for the benefit of the
Administrative Agent pursuant hereto. All such certificates and instruments shall be delivered in suitable form for transfer by delivery or shall be accompanied by duly executed instruments of transfer or assignment in blank, substantially in the
form provided in Exhibit 4(a) attached hereto. 
 (b) Additional Securities. If such Pledgor shall
receive (or become entitled to receive) by virtue of its being or having been the owner of any Pledged Collateral, any (i) certificate or instrument, including without limitation, any certificate representing a dividend or distribution in
connection with any increase or reduction of capital, reclassification, merger, consolidation, sale of assets, combination of shares or membership or other Equity Interests, stock splits, spin-off or split-off, promissory notes or other instruments;
(ii) option or right, whether as an addition to, substitution for, conversion of, or an exchange for, any Pledged Collateral or otherwise in respect thereof; (iii) dividends payable in securities; or

  
 3 

 
(iv) distributions of securities or other Equity Interests, cash or other property in connection with a partial or total liquidation, dissolution or reduction of capital, capital surplus or
paid-in surplus, then such Pledgor shall accept and receive each such certificate, instrument, option, right, dividend or distribution in trust for the benefit of the Administrative Agent, shall segregate it from such Pledgor’s other property
and shall deliver it forthwith to the Administrative Agent in the exact form received together with any necessary endorsement and/or appropriate stock power duly executed in blank, substantially in the form provided in Exhibit 4(a), to be
held by the Administrative Agent as Pledged Collateral and as further collateral security for the Secured Obligations. 
 (c) Financing Statements. Each Pledgor authorizes the Administrative Agent to file one or more financing statements (with the description of the Pledged Collateral contained herein, including
without limitation “all assets” and/or “all personal property” collateral descriptions) disclosing the Administrative Agent’s security interest in the Pledged Collateral. Each Pledgor agrees to execute and deliver to the
Administrative Agent such financing statements and other filings as may be reasonably requested by the Administrative Agent in order to perfect and protect the security interest created hereby in the Pledged Collateral of such Pledgor. 

5. Representations and Warranties. Each Pledgor hereby represents and warrants to the Administrative Agent, for the benefit of the
Secured Parties, that so long as any of the Secured Obligations remains outstanding (other than contingent indemnification obligations that pursuant to the express terms of the Loan Documents survive termination of the Loan Documents) and until all
of the commitments relating thereto have been terminated: 
 (a) Authorization of Pledged Shares. The
Pledged Shares are duly authorized and validly issued, are fully paid and nonassessable and are not subject to the preemptive rights, warrants, options or other rights to purchase of any Person, or equityholder, voting trust or similar agreements
outstanding with respect to, or property that is convertible, into, or that requires the issuance and sale of, any of the Pledged Shares. 
 (b) Title. Each Pledgor has good and indefeasible title to the Pledged Collateral of such Pledgor and is the legal and beneficial owner of such Pledged Collateral free and clear of any Lien, other
than Permitted Liens. There exists no “adverse claim” within the meaning of Section 8-102 of the UCC with respect to the Pledged Shares of such Pledgor other than Permitted Liens. 

(c) Exercising of Rights. The exercise by the Administrative Agent of its rights and remedies hereunder will not
violate any material law or governmental regulation or any material contractual restriction binding on or affecting a Pledgor or any of its property. 
 (d) Pledgor’s Authority. No authorization, approval or action by, and no notice or filing with any Governmental Authority or with the issuer of any Pledged Collateral or any other Person is
required either (i) for the pledge made by a Pledgor or for the granting of the security interest by a Pledgor pursuant to this Pledge Agreement (except as have been already obtained) or (ii) for the exercise by the Administrative Agent or
the Secured Parties of their rights and remedies hereunder (except as may be required by the UCC or applicable foreign laws or laws affecting the offering and sale of securities). 

  
 4 

 (e) Security Interest/Priority. This Pledge Agreement creates a valid
security interest in favor of the Administrative Agent for the benefit of the Secured Parties, in the Pledged Collateral. The taking of possession by the Administrative Agent of the certificates representing the Pledged Shares and all other
certificates and instruments constituting Pledged Collateral will perfect and establish the first priority of the Administrative Agent’s security interest in the Pledged Shares consisting of certificated securities of Domestic Subsidiaries and,
when properly perfected by filing or registration, in all other Pledged Collateral represented by such Pledged Shares and instruments securing the Secured Obligations. Except as set forth in this Section 5(e), no action is necessary to
perfect or otherwise protect such security interest. 
 (f) Partnership and Membership Interests. Except
as previously disclosed to the Administrative Agent, none of the Pledged Shares consisting of partnership or limited liability company interests (i) is dealt in or traded on a securities exchange or in a securities market, (ii) by its
terms expressly provides that it is a security governed by Article 8 of the UCC, (iii) is an investment company security, (iv) is held in a securities account or (v) constitutes a Security or a Financial Asset. 

(g) Delivery of Certificated Equity Interests. All certificated Equity Interests, if any, included in the Pledged
Collateral have been delivered to the Administrative Agent. 
 6. Covenants. Each Pledgor hereby covenants, that so long
as any of the Secured Obligations remain outstanding (other than contingent indemnification obligations that pursuant to the express terms of the Loan Documents survive termination of the Loan Documents) and until all of the commitments relating
thereto have been terminated, such Pledgor shall: 
 (a) Books and Records. Mark its books and records
(and shall cause the issuer of the Pledged Shares of such Pledgor to mark its books and records) to reflect the security interest granted to the Administrative Agent, for the benefit of the Secured Parties, pursuant to this Pledge Agreement.

 (b) Defense of Title. Warrant and defend title to and ownership of the Pledged Collateral of such
Pledgor at its own expense against the claims and demands of all other parties claiming an interest therein, keep the Pledged Collateral free from all Liens, except for Permitted Liens, and not sell, exchange, transfer, assign, lease or otherwise
dispose of Pledged Collateral of such Pledgor or any interest therein, except as permitted under the Credit Agreement and the other Loan Documents. 
 (c) Further Assurances. Promptly execute and deliver at its expense all further instruments and documents and take all further action that may be necessary and desirable or that the Administrative
Agent may request in order to (i) perfect and protect the security interest created hereby in the Pledged Collateral of such Pledgor (including, without limitation, any and all action necessary to satisfy the Administrative Agent that the
Administrative Agent has obtained a first priority perfected security interest in all Pledged Collateral subject only to Permitted Liens); (ii) enable the Administrative Agent to exercise and enforce its rights and remedies hereunder in respect
of the Pledged Collateral of such Pledgor; and (iii) otherwise effect the purposes of this Pledge Agreement, including, without limitation and if requested by the Administrative Agent, delivering to the Administrative Agent upon its request
after the occurrence of an Event of Default, irrevocable proxies in respect of the Pledged Collateral of such Pledgor. 

  
 5 

 (d) Amendments. Not make or consent to any amendment or other
modification or waiver with respect to any of the Pledged Collateral of such Pledgor or enter into any agreement or allow to exist any restriction with respect to any of the Pledged Collateral of such Pledgor other than pursuant hereto or as may be
permitted under the Credit Agreement. 
 (e) Compliance with Securities Laws. File all reports and other
information now or hereafter required to be filed by such Pledgor with the United States Securities and Exchange Commission and any other state, federal or foreign agency in connection with the ownership of the Pledged Collateral of such Pledgor.

 (f) Issuance or Acquisition of Equity Interests. Not, without executing and delivering, or causing to
be executed and delivered, to the Administrative Agent such agreements, documents and instruments as the Administrative Agent may request for the purpose of perfecting its security interest therein, issue or acquire any Equity Interests constituting
Pledged Collateral consisting of an interest in a partnership or a limited liability company that (i) is dealt in or traded on a securities exchange or in a securities market, (ii) by its terms expressly provides that it is a security
governed by Article 8 of the UCC, (iii) is an investment company security, (iv) is held in a securities account or (v) constitutes a Security or a Financial Asset. 

7. Advances by Secured Parties. On failure of any Pledgor to perform any of the covenants and agreements contained herein which
constitutes an Event of Default and while such Event of Default is continuing, the Administrative Agent may, at its sole option and in its sole discretion, upon notice to the Pledgors, perform the same and in so doing may expend such sums as the
Administrative Agent reasonably may deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien (other than a Permitted Lien),
expenditures made in defending against any adverse claim and all other expenditures that the Administrative Agent or the Secured Parties may make for the protection of the security hereof or may be compelled to make by operation of law. All such
sums and amounts so expended shall be repayable by the Pledgors on a joint and several basis (subject to Section 25 hereof) promptly upon timely notice thereof and demand therefor with accompanying detail for such sums and amounts, shall
constitute additional Secured Obligations and, subject to the terms of the Credit Agreement, shall bear interest from the date said amounts are expended at the Default Rate. No such performance of any covenant or agreement by the Administrative
Agent or the Secured Parties on behalf of any Pledgor, and no such advance or expenditure therefor, shall relieve the Pledgors of any default under the terms of this Pledge Agreement, the other Loan Documents or any other documents relating to the
Secured Obligations. The Administrative Agent may make any payment hereby authorized in accordance with any bill, statement or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the
accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or claim except to the extent such payment is being contested in good faith by a Pledgor in appropriate proceedings and
against which adequate reserves are being maintained in accordance with GAAP. 
 8. Remedies. 

(a) General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and
the Secured Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment),
the rights and remedies of a secured party under the Uniform Commercial Code of the jurisdiction applicable to the affected Pledged Collateral. 

  
 6 

 (b) Sale of Pledged Collateral. Upon the occurrence of an Event of Default and during
the continuation thereof, without limiting the generality of this Section 8 and without notice, the Administrative Agent may, in its sole discretion, sell or otherwise dispose of or realize upon the Pledged Collateral, or any part
thereof, in one or more parcels, at public or private sale, at any exchange or broker’s board or elsewhere, at such price or prices and on such other terms as the Administrative Agent may deem commercially reasonable, for cash, credit or for
future delivery or otherwise in accordance with applicable law. To the extent permitted by law, any Secured Party may in such event, bid for the purchase of such securities. Each Pledgor agrees that, to the extent notice of sale shall be required by
law and has not been waived by such Pledgor, any requirement of reasonable notice shall be met if notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage
prepaid, to such Pledgor, in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of such sale. The Administrative Agent shall not be obligated to make any sale of
Pledged Collateral of such Pledgor regardless of notice of sale having been given. The Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without
further notice, be made at the time and place to which it was so adjourned. 
 (c) Private Sale. Upon the occurrence of
an Event of Default and during the continuation thereof, the Pledgors recognize that the Administrative Agent may be unable or deem it impracticable to effect a public sale of all or any part of the Pledged Shares or any of the securities
constituting Pledged Collateral and that the Administrative Agent may, therefore, determine to make one or more private sales of any such Pledged Collateral to a restricted group of purchasers who will be obligated to agree, among other things, to
acquire such Pledged Collateral for their own account, for investment and not with a view to the distribution or resale thereof. Each Pledgor acknowledges and agrees that any such private sale may be at prices and on other terms less favorable than
the prices and other terms that might have been obtained at a public sale and, notwithstanding the foregoing, agrees that such private sale shall be deemed to have been made in a commercially reasonable manner and that the Administrative Agent shall
have no obligation to delay sale of any such Pledged Collateral for the period of time necessary to permit the issuer of such Pledged Collateral to register such Pledged Collateral for public sale under the Securities Act or under applicable state
securities laws. 
 (d) Retention of Pledged Collateral. To the extent permitted under applicable law, in addition to the
rights and remedies hereunder, upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, after providing the notices required by Sections 9-620 and 9-621 of the UCC or otherwise complying with the
requirements of applicable law of the relevant jurisdiction, accept or retain all or any portion of the Pledged Collateral in satisfaction of the Secured Obligations. Unless and until the Administrative Agent shall have provided such notices,
however, the Administrative Agent shall not be deemed to have accepted or retained any Pledged Collateral in satisfaction of any Secured Obligations for any reason. 
 (e) Deficiency. In the event that the proceeds of any sale, collection or realization are insufficient to pay all amounts to which the Administrative Agent or the Secured Parties are legally
entitled, the Pledgors shall be jointly and severally liable (subject to Section 25 hereof) for the deficiency, together with interest thereon at the Default Rate, together with the costs of collection and reasonable attorneys’ fees
and expenses. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Pledgors or to whomsoever a court of competent jurisdiction shall determine to be entitled thereto. 

  
 7 

 9. Rights of the Administrative Agent. 

(a) Power of Attorney. Each Pledgor hereby designates and appoints the Administrative Agent, on behalf of the Secured Parties, and
each of its designees or agents, as attorney-in-fact of such Pledgor, irrevocably and with power of substitution, with authority to take any or all of the following actions upon the occurrence and during the continuation of an Event of Default:

 (i) to demand, collect, settle, compromise and adjust, and give discharges and releases concerning the Pledged
Collateral, all as the Administrative Agent may deem appropriate; 
 (ii) to commence and prosecute any actions
at any court for the purposes of collecting any of the Pledged Collateral and enforcing any other right in respect thereof; 
 (iii) to defend, settle or compromise any action brought in connection with the Collateral and, in connection therewith, give such discharge or release as the Administrative Agent may deem reasonably
appropriate; 
 (iv) to pay or discharge taxes, liens, security interests or other encumbrances levied or placed
on or threatened against the Pledged Collateral (other than Permitted Liens); 
 (v) to direct any parties liable
for any payment in connection with any of the Pledged Collateral to make payment of any and all monies due and to become due thereunder directly to the Administrative Agent or as the Administrative Agent shall direct; 

(vi) to receive payment of and receipt for any and all monies, claims, and other amounts due and to become due at any time
in respect of or arising out of any Pledged Collateral; 
 (vii) to sign and endorse any drafts, assignments,
proxies, stock powers, verifications, notices and other documents relating to the Pledged Collateral; 
 (viii)
to execute and deliver all assignments, conveyances, statements, financing statements, renewal financing statements, security and pledge agreements, affidavits, notices and other agreements, instruments and documents that the Administrative Agent
may deem appropriate in order to perfect and maintain the security interests and liens granted in this Pledge Agreement and in order to fully consummate all of the transactions contemplated therein; 

(ix) to exchange any of the Pledged Collateral or other property upon any merger, consolidation, reorganization,
recapitalization or other readjustment of the issuer thereof and, in connection therewith, deposit any of the Pledged Collateral with any committee, depository, transfer agent, registrar or other designated agency upon such terms as the
Administrative Agent may deem reasonably appropriate; 
 (x) to vote for a shareholder or member resolution, or
to sign an instrument in writing, sanctioning the transfer of any or all of the Pledged Collateral into the name of the Administrative Agent or one or more of the Secured Parties or into the name of any transferee to whom the Pledged Collateral or
any part thereof may be sold pursuant to Section 8 hereof; and 
 (xi) to do and perform all such
other acts and things as the Administrative Agent may deem appropriate or convenient in connection with the Pledged Collateral. 

  
 8 

 This power of attorney is a power coupled with an interest and shall be irrevocable for so
long as any of the Secured Obligations shall remain outstanding (other than contingent indemnification obligations that pursuant to the express terms of the Loan Documents survive termination of the Loan Documents) and until all of the commitments
relating thereto shall have been terminated. The Administrative Agent shall be under no duty to exercise or withhold the exercise of any of the rights, powers, privileges and options expressly or implicitly granted to the Administrative Agent in
this Pledge Agreement, and shall not be liable for any failure to do so or any delay in doing so. The Administrative Agent shall not be liable for any act or omission or for any error of judgment or any mistake of fact or law in its individual
capacity or its capacity as attorney-in-fact except acts or omissions resulting from its gross negligence or willful misconduct. This power of attorney is conferred on the Administrative Agent solely to protect, preserve and realize upon its
security interest in the Pledged Collateral. 
 (b) Assignment by the Administrative Agent. The Administrative Agent may
from time to time assign its rights hereunder with respect to the Pledged Collateral and any portion thereof to a successor agent in accordance with the Credit Agreement, and the assignee shall be entitled to all of the rights and remedies of the
Administrative Agent under this Pledge Agreement in relation thereto. 
 (c) The Administrative Agent’s Duty of
Care. Other than the exercise of reasonable care to assure the safe custody of the Pledged Collateral while being held by the Administrative Agent hereunder and to account for all proceeds thereof, the Administrative Agent shall have no duty or
liability to preserve rights pertaining thereto, it being understood and agreed that the Pledgors shall be responsible for preservation of all rights in the Pledged Collateral, and the Administrative Agent shall be relieved of all responsibility for
the Pledged Collateral upon surrendering it or tendering the surrender of it to the Pledgors. The Administrative Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Collateral in its possession if
such Pledged Collateral is accorded treatment substantially equal to that which the Administrative Agent accords its own property, which shall be no less than the treatment employed by a reasonable and prudent agent in the industry, it being
understood that the Administrative Agent shall not have responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Pledged Collateral, whether or not
the Administrative Agent has or is deemed to have knowledge of such matters, or (ii) taking any necessary steps to preserve rights against any parties with respect to any of the Pledged Collateral. 

(d) Voting Rights in Respect of the Pledged Collateral. 

(i) So long as no Event of Default shall have occurred and be continuing, each Pledgor may exercise any and all voting and
other consensual rights pertaining to the Pledged Collateral of such Pledgor or any part thereof for any purpose not inconsistent with the terms of this Pledge Agreement or the Credit Agreement; and 

(ii) Upon the occurrence and during the continuance of an Event of Default, following not less than two (2) Business
Days’ advance written notice, all rights of a Pledgor to exercise the voting and other consensual rights that it would otherwise be entitled to exercise pursuant to paragraph (i) of this subsection shall cease and all such rights shall
thereupon become vested in the Administrative Agent, which shall then have the sole right to exercise such voting and other consensual rights. 
 (e) Dividend Rights in Respect of the Pledged Collateral. 

  
 9 

 (i) So long as no Event of Default shall have occurred and be continuing and
subject to Section 4(b) hereof, each Pledgor may receive and retain any and all dividends and distributions (other than stock dividends and other dividends and distributions constituting Pledged Collateral addressed hereinabove) or
interest paid in respect of the Pledged Collateral to the extent they are allowed under the Credit Agreement. 

(ii) Upon the occurrence and during the continuance of an Event of Default: 

(A) all rights of a Pledgor to receive the dividends, distributions and interest payments that it would otherwise be
authorized to receive and retain pursuant to paragraph (i) of this subsection shall cease and all such rights shall thereupon be vested in the Administrative Agent, which shall then have the sole right to receive and hold as Pledged Collateral
such dividends, distributions and interest payments; and 
 (B) all dividends and interest payments that are
received by a Pledgor contrary to the provisions of paragraph (A) of this subsection shall be received in trust for the benefit of the Administrative Agent, shall be segregated from other property or funds of such Pledgor, and shall be
forthwith paid over to the Administrative Agent as Pledged Collateral in the exact form received, to be held by the Administrative Agent as Pledged Collateral and as further collateral security for the Secured Obligations. 

(f) Release of Pledged Collateral. 
 (i) If any Pledged Collateral shall be sold, transferred or otherwise disposed of by any Pledgor in a transaction permitted by the Credit Agreement, then the Administrative Agent, at the request and sole
expense of such Pledgor, shall promptly execute and deliver to such Pledgor all releases and other documents and instruments, and take such other action, reasonably necessary for the release of the Liens created hereby or by any other Collateral
Document on such Pledged Collateral. 
 (ii) The Administrative Agent may release any of the Pledged Collateral
from this Pledge Agreement or may substitute any of the Pledged Collateral for other Pledged Collateral without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Pledge Agreement as to any
Pledged Collateral not expressly released or substituted, and this Pledge Agreement shall continue as a first priority lien (subject only to Permitted Liens) on all Pledged Collateral not expressly released or substituted. 

10. Rights of Required Lenders. All rights of the Administrative Agent hereunder, if not exercised by the Administrative Agent,
may be exercised by the Required Lenders. 
 11. Application of Proceeds. Upon the occurrence and during the continuation
of an Event of Default and in accordance with Section 9.03 of the Credit Agreement, any payments in respect of the Secured Obligations and any proceeds of the Pledged Collateral, when received by the Administrative Agent or any of the
Secured Parties in cash or its equivalent, will be applied in reduction of the Secured Obligations in the order set forth in Section 9.03 of the Credit Agreement, and each Pledgor irrevocably waives the right to direct the application of
such payments and proceeds and acknowledges and agrees that the Administrative Agent shall have the continuing and exclusive right to apply and reapply any and all such payments and proceeds in the Administrative Agent’s sole discretion,
notwithstanding any entry to the contrary upon its books and records. 

  
 10 

 12. Continuing Agreement. 

(a) This Pledge Agreement shall be a continuing agreement in every respect and shall remain in full force and effect so long as any of
the Secured Obligations remains outstanding (other than contingent indemnification obligations that pursuant to the express terms of the Loan Documents survive termination of the Loan Documents) and until all of the commitments relating thereto have
been terminated. Upon payment or other satisfaction of all Secured Obligations and termination of all commitments relating thereto, this Pledge Agreement and the liens and security interests of the Administrative Agent hereunder shall be
automatically terminated and the Administrative Agent and the Secured Parties shall, upon the request and at the expense of the Pledgors, forthwith release all of its liens and security interests hereunder, shall return all certificates or
instruments pledged hereunder and shall execute and deliver all UCC termination statements and/or other documents reasonably requested by the Pledgors evidencing such termination. Notwithstanding the foregoing, all releases and indemnities provided
hereunder shall survive termination of this Pledge Agreement. 
 (b) This Pledge Agreement shall continue to be effective or be
automatically reinstated, as the case may be, if at any time payment, in whole or in part, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by the Administrative Agent or any Secured Party as a preference,
fraudulent conveyance or otherwise under any bankruptcy, insolvency or similar law, all as though such payment had not been made; provided that in the event payment of all or any part of the Secured Obligations is rescinded or must be restored or
returned, all reasonable documented out-of-pocket costs and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) incurred by the Administrative Agent or any Secured Party in defending and enforcing such
reinstatement shall be deemed to be included as a part of the Secured Obligations. 
 13. Amendments and Waivers. This
Pledge Agreement and the provisions hereof may not be amended, waived, modified, changed, discharged or terminated except as set forth in Section 11.01 of the Credit Agreement. 

14. Successors in Interest. This Pledge Agreement shall create a continuing security interest in the Pledged Collateral and shall
be binding upon each Pledgor, its successors and assigns, and shall inure, together with the rights and remedies of the Administrative Agent and the Secured Parties hereunder, to the benefit of the Administrative Agent and the Secured Parties and
their successors and permitted assigns; provided, however, that, except as provided in the Credit Agreement, none of the Pledgors may assign its rights or delegate its duties hereunder without the prior written consent of the requisite
Lenders under the Credit Agreement. To the fullest extent permitted by law, each Pledgor hereby releases the Administrative Agent and each Secured Party, and their respective successors and assigns, from any liability for any act or omission
relating to this Pledge Agreement or the Pledged Collateral, except for any liability arising from the gross negligence or willful misconduct of the Administrative Agent or such holder, or their respective officers, employees or agents. 

15. Notices. All notices required or permitted to be given under this Pledge Agreement shall be given as provided in
Section 11.02 of the Credit Agreement. 
 16. Counterparts. This Pledge Agreement may be executed in any
number of counterparts, each of which where so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Pledge Agreement to produce or account for
more than one such counterpart. 

  
 11 

 17. Headings. The headings of the sections and subsections hereof are provided for
convenience only and shall not in any way affect the meaning or construction of any provision of this Pledge Agreement. 
 18.
Governing Law; Submission to Jurisdiction; Venue. 
 (a) THIS PLEDGE AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK (INCLUDING SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK) WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE APPLICATION OF THE LAWS OF
ANOTHER JURISDICTION. 
 (b) ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS PLEDGE AGREEMENT OR ANY OTHER LOAN DOCUMENT MAY
BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND BY EXECUTION AND DELIVERY OF THIS PLEDGE AGREEMENT, EACH PLEDGOR AND THE ADMINISTRATIVE
AGENT, ON BEHALF OF ITSELF AND EACH SECURED PARTY, CONSENTS, FOR ITSELF AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH PLEDGOR AND THE ADMINISTRATIVE AGENT, ON BEHALF OF ITSELF AND EACH SECURED PARTY,
IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT
OF THIS PLEDGE AGREEMENT OR ANY OTHER LOAN DOCUMENT OR OTHER DOCUMENT RELATED THERETO. EACH PLEDGOR AND THE ADMINISTRATIVE AGENT, ON BEHALF OF ITSELF AND EACH SECURED PARTY, WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH
MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE. 
 19. Waiver of Right to Trial by Jury. 

EACH PARTY TO THIS PLEDGE AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
ARISING UNDER THIS PLEDGE AGREEMENT OR ANY OTHER LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO THIS PLEDGE AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR THE
TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS PLEDGE AGREEMENT MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE SIGNATORIES HERETO TO THE WAIVER OF THEIR
RIGHT TO TRIAL BY JURY. 
 20. Severability. If any provision of this Pledge Agreement is determined to be illegal,
invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions. 

  
 12 

 21. Entirety. This Pledge Agreement, the other Loan Documents and the other documents
relating to the Secured Obligations represent the entire agreement of the parties hereto and thereto, and supersede all prior agreements and understandings, oral or written, if any, including any commitment letters or correspondence relating to the
Loan Documents, any other documents relating to the Secured Obligations, or the transactions contemplated herein and therein. 

22. Survival. All representations and warranties of the Pledgors hereunder shall survive the execution and delivery of this Pledge
Agreement, the other Loan Documents and the other documents relating to the Secured Obligations, the delivery of the Notes and the extension of credit thereunder or in connection therewith. Such representations and warranties shall cease to be of
any force or effect when and as provided in Section 11.11 of the Credit Agreement. 
 23. Other Security. To
the extent that any of the Secured Obligations are now or hereafter secured by property other than the Pledged Collateral (including, without limitation, real and other personal property owned by a Pledgor), or by a guarantee, endorsement or
property of any other Person, then to the maximum extent permitted by applicable law the Administrative Agent shall have the right to proceed against such other property, guarantee or endorsement upon the occurrence and during the continuance of any
Event of Default, and the Administrative Agent shall have the right, in its sole discretion, to determine which rights, security, liens, security interests or remedies the Administrative Agent shall at any time pursue, relinquish, subordinate,
modify or take with respect thereto, without in any way modifying or affecting any of them or the Secured Obligations or any of the rights of the Administrative Agent or the Secured Parties under this Pledge Agreement, under any of the other Loan
Documents or under any other document relating to the Secured Obligations. 
 24. Joinder. At any time after the date of
this Pledge Agreement, one or more additional Persons may become party hereto by executing and delivering to the Administrative Agent a Joinder Agreement. Immediately upon such execution and delivery of such Joinder Agreement (and without any
further action), each such additional Person will become a party to this Pledge Agreement as a “Pledgor” and have all of the rights and obligations of a Pledgor hereunder and this Pledge Agreement and the schedules hereto shall be deemed
amended by such Joinder Agreement. 
 25. Joint and Several Obligations of Pledgors. 

(a) Each of the Pledgors is accepting joint and several liability hereunder in consideration of the financial accommodation to be
provided by the Secured Parties, for the mutual benefit, directly and indirectly, of each of the Pledgors and in consideration of the undertakings of each of the Pledgors to accept joint and several liability for the obligations of each of them.

 (b) Each of the Pledgors jointly and severally hereby irrevocably and unconditionally accepts, not merely as a surety but
also as a co-debtor, joint and several liability with the other Pledgors with respect to the payment and performance of all of the Secured Obligations arising under this Pledge Agreement, the other Loan Documents and any other documents relating to
the Secured Obligations, it being the intention of the parties hereto that all the Secured Obligations shall be the joint and several obligations of each of the Pledgors without preferences or distinction among them. 

(c) Notwithstanding any provision to the contrary contained herein, in any other of the Loan Documents or in any other documents relating
to the Secured Obligations, the obligations of each Guarantor under the Credit Agreement, the other Loan Documents and the documents relating to the Secured Obligations shall be limited to an aggregate amount equal to the largest amount that would
not 

  
 13 

 
render such obligations subject to avoidance under Section 548 of the Bankruptcy Code or any comparable provisions of any applicable state law. 

26. Not Member or Shareholder. 
 Notwithstanding any provisions to the contrary contained in this Pledge Agreement or any other document or agreement among all or some of the parties hereto, each Pledgor is the sole legal, registered and
beneficial owner of all Pledged Collateral which is ULC Shares and will remain so until such time as such ULC Shares are effectively transferred into the name of the Administrative Agent or the Secured Parties or a Secured Party or any other Person
on the books and records of such ULC. Accordingly, such Pledgor shall be entitled to receive and retain for its own account any dividend on or other distribution, if any, in respect of such Pledged Collateral and shall have the right to vote such
Pledged Collateral and to control the direction, management and policies of the ULC issuer to the same extent as such Pledgor would if such Pledged Collateral were not pledged to the Administrative Agent (for the benefit of the Secured Parties)
pursuant hereto. Nothing in this Pledge Agreement or any other document or agreement among all or some of the parties hereto is intended to, and nothing in this Pledge Agreement or any other document or agreement among all or some of the parties
hereto shall, constitute the Administrative Agent or the Secured Parties or a Secured Party or any Person other than such Pledgor, a member of a ULC for the purpose of the Business Corporations Act (British Columbia) until such time as notice
is given to such Pledgor and further steps are taken thereunder so as to register the Administrative Agent or the Secured Parties or a Secured Party or other Person as holder of ULC Shares. To the extent any provision hereof would have the effect of
constituting the Administrative Agent or the Secured Parties or a Secured Parties as a member of any ULC prior to such time, such provision shall be severed therefrom and ineffective with respect to Pledged Collateral which is ULC Shares without
otherwise invalidating or rendering unenforceable this Pledge Agreement or invalidating or rendering unenforceable such provision insofar as it relates to Pledged Collateral which is not ULC Shares. Except upon the exercise of rights to sell or
otherwise dispose of the Pledged Collateral issued by a ULC following the occurrence of an Event of Default, no Pledgor shall cause or permit, or enable any ULC in which they hold ULC Shares to cause to permit, the Administrative Agent or the
Secured Parties or a Secured Party to: (a) be registered as shareholders or members of such ULC; (b) have any notation entered in their favor in the share register of such ULC; (c) be held out as shareholders or members of such ULC;
(d) receive, directly or indirectly, any dividends, property or other distributions from the ULC by reason of the Administrative Agent or the Secured Parties or a Secured Party holding a security interest in the ULC; or (e) act as a
shareholder or member of the ULC, or exercise any rights of a shareholder or member including the right to attend a meeting of, or to vote the shares of, the ULC. 
 [Signature Pages Follow] 

  
 14 

 Each of the parties hereto has caused a counterpart of this Pledge Agreement to be duly
executed and delivered as of the date first above written. 
  

							
	PLEDGORS:	 		 	THE ACTIVE NETWORK, INC.,
		 		 	a Delaware corporation
		 		 	 By:
	 	 /s/ Matthew Landa

		 		 	Name:	 	Matthew Landa
		 		 	Title:	 	President
			
		 		 	RTP, LLC,
		 		 	a Colorado limited liability company
				
		 		 	 By:
	 	 /s/ Matthew Landa

		 		 	Name:	 	Matthew Landa
		 		 	Title:	 	Chief Executive Officer and President

			
	Accepted and agreed to as of the date first above written.
	
	 BANK OF AMERICA, N.A.,

	 as Administrative Agent

		
	 By:
	 	 /s/ Ken Puro

	 Name: Ken Puro

	 Title: Vice President

 SCHEDULE 2(a) 
 EQUITY INTERESTS 
  

															
	Pledgor	  	Issuer	 	  	 Number of
 Shares/Units
	 	  	 Certificate
 Number
	  	 Percentage
Ownership

Pledged
	 
	 The Active Network, Inc.
	  	 	ServiceU Corporation	  	  	 	21,169,785	  	  	100	  	 	100	% 
	 The Active Network, Inc.
	  	 	RTP, LLC	  	  	 	12,000,000	  	  	N/A	  	 	100	% 

 EXHIBIT 4(a) 
 FORM OF IRREVOCABLE STOCK POWER 
 FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers to 
 the following shares of capital stock of
            , a             corporation: 
  

			
	 Number of Shares
	 	 Certificate Number

 and irrevocably appoints             its agent and attorney-in-fact to transfer all or any part of such capital stock and to take all necessary
and appropriate action to effect any such transfer. The agent and attorney-in-fact may substitute and appoint one or more persons to act for him. 
  

			
	 [HOLDER]

		
	 By:
	 	  

	 Name:
	 	
	 Title:Amendment No. 12 to Credit Agreement

 Exhibit 10.1 
 Execution Version 
 AMENDMENT NO. 12 

TO 

CREDIT AGREEMENT 
 THIS AMENDMENT NO. 12 TO CREDIT AGREEMENT (this “Amendment” or “Amendment No. 12”), dated as of December 14, 2011, is by and among BALDWIN TECHNOLOGY COMPANY,
INC., a Delaware corporation (“Parent”), BALDWIN GERMANY HOLDING GMBH, a German company (“Newco”), BALDWIN GERMANY GMBH, a German company (“BGG”), BALDWIN OXY-DRY GMBH (formerly known as
“OXY-DRY MASCHINEN GMBH”), a German company (“Oxy-Dry GmbH”, and, collectively with the Parent, Newco and BGG, the “Borrowers”), the other Credit Parties (as defined in the Guaranty and Collateral
Agreement (as defined below)) a party hereto, the Lenders (as defined in the Credit Agreement referred to below) signatory hereto and BANK OF AMERICA, N.A., a national banking association (as successor-by-merger to LASALLE BANK NATIONAL
ASSOCIATION), in its capacity as administrative agent (in such capacity, the “Administrative Agent”) for the Lenders. 
 PRELIMINARY STATEMENTS 
 A. The Borrowers, the Lenders and the
Administrative Agent are parties to that certain Credit Agreement, dated as of November 21, 2006, as amended by that certain (i) Amendment to Credit Agreement dated as of December 29, 2006, (ii) Waiver, Consent and Amendment
No. 2, dated as of April 18, 2007, (iii) Waiver, Consent and Amendment No. 3 to Credit Agreement dated as of January 3, 2008, (iv) Amendment No. 4 to Credit Agreement dated as of February 26, 2008,
(v) Modification and Limited Waiver Agreement dated as of March 31, 2009, as amended and restated as of May 15, 2009 and amended on June 22, 2009 (such Modification and Limited Waiver Agreement, as so amended and restated and as
so amended, and as may be further amended, restated, supplemented or otherwise modified from time to time, the “Modification and Limited Waiver”), (vi) Waiver and Amendment No. 5 to Credit Agreement dated as of
July 31, 2009 (“Amendment No. 5”), (vii) Waiver and Amendment No. 6 dated as of May 12, 2010, (viii) Waiver and Amendment No. 7 dated as of June 9, 2010, (ix) Amendment No. 8 to
Credit Agreement dated as of September 28, 2010 (“Amendment No. 8”), (x) Amendment No. 9 to Credit Agreement dated as of September 29, 2010 (“Amendment No. 9”), (xi) Waiver and
Amendment No. 10 to Credit Agreement dated as of May 16, 2011 (“Amendment No. 10”) and (xii) Amendment No. 11 to Credit Agreement dated as of October 13, 2011 (“Amendment No. 11”);

 B. The term “Credit Agreement” as used in this Amendment shall mean such Credit Agreement as amended as set
forth in paragraph A above; 
 C. The Guaranty and Collateral Agreement (as defined in the Credit Agreement) was amended
pursuant to (i) Amendment No. 1 to Guaranty and Collateral Agreement, dated as of June 24, 2009, (ii) Amendment No. 2 to Guaranty and Collateral Agreement, dated as of February 16, 2010, (iii) Amendment No. 3
to Guaranty and Collateral Agreement, dated as of June 30, 2010, (iv) Amendment No. 4 to Guaranty and Collateral Agreement, dated as of May 16, 2011 and (v) Amendment No. 5 to Guaranty and Collateral Agreement, dated as
of June 3, 2011; 

 D. The Borrowers have requested that Lenders constituting at least the Required Lenders
amend the Credit Agreement to permit the Specified Swedish Facility Sale (as defined below); and 
 E. The Required Lenders are
willing to agree to permit the Specified Swedish Facility Sale upon the terms and subject to the conditions set forth in this Amendment. 
 NOW, THEREFORE, in consideration of the premises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to
be legally bound, agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 1.01 Capitalized terms used in this Amendment
and not defined herein shall have the meanings ascribed to such terms in the Credit Agreement unless otherwise stated herein. 

ARTICLE II 

AMENDMENTS 
 2.01 Amendment to Section 1.1: Addition of New Definition. Section 1.1 of the Credit Agreement is hereby amended by adding the following new definition (to be inserted in
proper alphabetical order): 
 Specified Swedish Facility Sale means the sale of the real property located at
Stoerydsvägen 13, 573 42 Tranås, Sweden by the Subsidiary Baldwin Jimek AB, an entity organized under the laws of Sweden, to Mörcks Grävservice, for a purchase price (to be paid in full in cash at the closing of the Specified
Sweden Facility Sale) of no less than the Dollar Equivalent of 4,360,000 Swedish Krona (SEK), which sale shall (a) be consummated no later than December 31, 2011, and (b) be pursuant to customary terms and documentation. 

2.02 Amendment to Section 11.5. Section 11.5(vi) of the Credit Agreement is hereby amended and
restated to read in its entirety as follows: 
 (vi) as long as no Event of Default or Unmatured Event of Default then exists or
will arise therefrom, (A) the sale, prior to March 31, 2009, of other assets to Persons other than Affiliates at arms length terms provided that the Net Cash Proceeds thereof do not exceed (in the aggregate) $2,000,000 in any Fiscal Year
and the Net Cash Proceeds are applied pursuant to Section 6.2.2 to the extent required thereunder and (B) the Specified Swedish Facility Sale provided that the Net Cash Proceeds of the Specified Swedish Facility Sale are used by
Baldwin Jimek AB for working capital purposes; 

  
 -2-

 ARTICLE III 
 CONDITIONS PRECEDENT 
 3.01 Conditions to
Effectiveness. The effectiveness of the amendments set forth in Article II above is subject to the satisfaction (by no later than December 16, 2011 unless the Administrative Agent extends such date) of the following conditions
precedent, unless specifically waived in writing by the Administrative Agent: 
 (a) The Administrative Agent
shall have received the following documents, each in form and substance satisfactory to the Administrative Agent and its legal counsel: 
 (i) this Amendment duly executed by Borrowers and the other Credit Parties and Lenders constituting at least the Required Lenders; and 

(ii) such other documents (if any) as reasonably requested by the Administrative Agent; 

(b) [Reserved]; and 
 (c) Borrowers shall have paid all legal costs and expenses of the Administrative Agent incurred as of the date hereof including without limitation the following legal fees of Finn Dixon & Herling
LLP: $7,729.25. 
 ARTICLE IV 
 NO WAIVER 
 4.01 No Waiver. Nothing contained in this
Amendment shall be construed as a waiver by the Administrative Agent or the Lenders of any covenant or provision of the Credit Agreement, the Guaranty and Collateral Agreement, this Amendment, the other Loan Documents, or of any other contract or
instrument among the Borrowers and/or the other Credit Parties, as the case may be, and the Administrative Agent and/or the Lenders (and/or their respective Affiliates), as the case may be, and the failure of the Administrative Agent and/or Lenders
(and/or their respective Affiliates) at any time or times hereafter to require strict performance by the Borrowers and/or the other Credit Parties of any provision thereof shall not waive, affect or diminish any right of the Administrative Agent and
the Lenders (or their respective Affiliates) to thereafter demand strict compliance therewith. 
 ARTICLE V 

RATIFICATIONS, REPRESENTATIONS AND WARRANTIES; CONFIRMATIONS 

5.01 Ratifications; etc. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent
terms and provisions set forth in Credit Agreement and the other Loan Documents. The Borrowers (and other Credit Parties) agree to execute and deliver such further documents as the Administrative Agent may reasonably request in order to eliminate
any such inconsistency, correct any errors, or to further carry out the intent and purposes of this Amendment or any related document. The terms and provisions of the Credit Agreement and the other Loan Documents, as amended hereby, are ratified and
confirmed and shall continue in full force and effect. For the avoidance of doubt, this Amendment and all prior amendments to the 

  
 -3-

 
Credit Agreement shall be considered Loan Documents. The Borrowers, the other Credit Parties, the Lenders and the Administrative Agent agree that the Credit Agreement and the other Loan
Documents, as amended hereby, shall continue to be legal, valid, binding obligations of the parties thereto, enforceable against such parties in accordance with their respective terms. Without limiting the generality of the foregoing, the Borrowers
and the other Credit Parties hereby confirm and agree that (a) all Liens under the Collateral Documents (as amended) remain in full force and effect (as so amended) and (b) the guaranty obligations and other obligations of the Borrowers
and all other Credit Parties under the Guaranty and Collateral Agreement (and other applicable Collateral Documents), as amended, remain in full force and effect (as so amended) and (as set forth in the Guaranty and Collateral Agreement) such
guaranties and Liens (and other obligations), under the Guaranty and Collateral Agreement shall not be impaired or otherwise limited by any waiver or modification set forth in this Amendment (and nothing contained in this Amendment shall, or shall
be interpreted to, create a custom, course of dealing or other agreement or arrangement by which the consent or confirmation of any Credit Party to any modification or waiver is required in order to keep any obligations (with respect to any
guarantee, granting of Liens or otherwise) under the Guaranty and Collateral Agreement (and other applicable Collateral Documents) in full force and effect, it being agreed that no such consent or confirmation is necessary or required in order to
keep such obligations in full force and effect. Without limiting the generality of the foregoing (or of Section 1.2(e) of the Credit Agreement), it is hereby confirmed and agreed that any reference in the Loan Documents to any Note shall
include all amendments, restatements, supplements and other modifications thereto and any Notes issued under Section 15.6.1 of the Credit Agreement and/or other Notes in substitution or replacement of any Note(s). Any breach of any
representation, warranty, covenant, agreement or confirmation set forth in this Amendment by any Borrower or any other Credit Party shall be deemed to constitute an Event of Default under the Credit Agreement. 

5.02 Representations and Warranties. Each of the Borrowers and the other Credit Parties hereby represents and warrants to
the Administrative Agent and the Lenders that (a) the execution, delivery and performance of this Amendment and any and all Loan Documents executed and/or delivered in connection herewith have been authorized by all requisite corporate (or
other applicable organization) action on the part of such Borrower or other Credit Party, as the case may be, and will not violate the charter, by-laws or other organizational documents of such Borrower or other Credit Party; (b) the
representations and warranties of such Borrower or other Credit Party, as the case may be, contained in any Loan Document are true and correct in all respects (or if the applicable representation or warranty is not qualified by a materiality
qualifier, true and correct in all material respects) on the date hereof and on and as of the date of execution hereof as though made on and as of each such date (except to the extent stated to relate to a specific earlier date, in which case such
representations and warranties were true and correct in all respects (or if the applicable representation or warranty is not qualified by a materiality qualifier, true and correct in all material respects) as of such earlier date); (c) after
giving effect to the amendments set forth herein, no Event of Default or Unmatured Event of Default under the Credit Agreement has occurred and is continuing; and (d) no Credit Party that is party to the Guaranty and Collateral Agreement has
changed its legal name since November 21, 2006 except (i) Newco changed its name from Mainsee 430. VV GmbH to Baldwin Germany Holding GmbH, (ii) Oxy-Dry GmbH changed its name from Oxy-Dry Maschinen GmbH to Baldwin Oxy-Dry GmbH,
(iii) Baldwin Southeast Asia Corporation changed its name from Oxy-Dry Asia Pacific, Inc and (iv) Baldwin Rockford Corporation has merged with and into Baldwin Americas 

  
 -4-

 
Corporation. The Borrowers and the other Credit Parties acknowledge and agree that all unpaid principal of, and accrued and unpaid interest under, each of the Loans (and any reimbursement
obligations with respect to any Letters of Credit and any other outstanding Obligations) is justly owed without claim, counterclaim, cross-complaint, offset, defense or other reduction of any kind against the Lenders or the Administrative Agent. The
Parent acknowledges and agrees that each Warrant constitutes the legal, valid and binding obligation of the Parent, enforceable against the Parent in accordance with its respective terms and Parent has no claims, counterclaims, cross-complaints,
offsets, defenses or other reduction of any kind with respect to its respective obligations thereunder. 
 5.03
Confirmations. All confirmations and agreements set forth in Sections 7.03, 7.04 and 7.05 of Amendment No. 5 remain in full force and effect. 

ARTICLE VI 

MISCELLANEOUS PROVISIONS 
 6.01 Survival of Representations and Warranties. All representations and warranties made in the Credit Agreement or the Guaranty and Collateral Agreement or any other Loan Documents or under
or in connection with this Amendment, including, without limitation, any document furnished in connection with this Amendment, shall survive the execution and delivery of this Amendment and the other Loan Documents. 

6.02 Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 
 6.03 Successors and Assigns. This Amendment is binding upon and shall inure to the benefit of the Administrative Agent, the Lenders, the Borrowers and the other Credit Parties and their
respective successors and assigns, except that no Borrower or Credit Party may assign or transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent. It is acknowledged and agreed that Bank of
America, N.A., has, as successor by merger to LaSalle Bank National Association, succeeded to all of the respective rights and duties of LaSalle Bank National Association as a Lender (including without limitation as the Issuing Lender) and as the
Administrative Agent under the Loan Documents. 
 6.04 Certain Costs and Expenses. Without in any way limiting the
generality of Sections 10.2 or 15.5 of the Credit Agreement, the Parent acknowledges and agrees that it shall (i) promptly pay the reasonable fees and disbursements of all legal counsel retained by the Administrative Agent in
connection with the preparation, negotiation, execution and delivery of this Amendment or any related documents (it is understood and agreed that the $7,729.25 of legal fees and disbursements referred to in Section 3.01(c) above include
such legal fees of Finn Dixon & Herling LLP through the date hereof and that the Parent shall be responsible for (and promptly pay upon presentation of invoices by Finn Dixon & Herling LLP) any fees or disbursements of Finn
Dixon & Herling LLP incurred after the date hereof) or any future waiver or modification (or proposed modification or waiver whether or not consummated), if any, of any Loan Document(s) or Warrants or any related documents (provided that
Parent shall not have to 

  
 -5-

 
pay the allocable costs of internal legal services of the Administrative Agent in connection with the preparation, negotiation, execution and delivery of this Amendment; provided it is understood
and agreed that this parenthetical phrase shall not, and shall not be interpreted to, limit the right of the Administrative Agent or any Lender to receive the allocable costs of internal legal services with respect to agreements or matters other
than the preparation, negotiation, execution and delivery of this Amendment), (ii) promptly pay the reasonable fees and disbursements, if any, of any legal counsel retained by any of the Lenders in connection with the review or negotiation of
the Eleventh Amendment Additional Warrants or any related warrant document, and (iii) promptly pay all fees of Capstone (as defined in the Modification and Limited Waiver) incurred (at any time) by the Administrative Agent whether such fees
relate to the Refinancing (as defined in Amendment No. 11), discussions with the Loan Parties, the Investment Banker as defined in Amendment No. 11 (in the case of the Investment Banker, with respect to matters relating solely to the
Refinancing), the Lenders or the Administrative Agent, updates to the Lenders or the Administrative Agent, the review of projections or the audit report and financial statements referred to in Section 5.01(g) of Amendment No. 10 or
other financial matters, or any other matters relating to the Loan Parties and/or Subsidiaries (it is understood and agreed that there are, as of the date of this Amendment, fees of Capstone which have been incurred but not reimbursed by the Parent
and that the Parent shall be responsible for (and promptly pay upon presentation of invoices by Capstone) any such fees and also any fees of Capstone incurred after the date hereof). The obligations of the Parent under this Section 9.04
shall be considered part of the Parent’s obligations under Section 15.5 of the Credit Agreement. The Borrowers and other Credit Parties hereby agree that all findings and conclusions and other work product of Capstone shall be
protected by the attorney-client privilege and shall not be subject to review or discovery by the Borrowers or any other Credit Party. 
 6.05 Counterparts. This Amendment may be executed and delivered by facsimile, portable document format (“.pdf”), Tagged Image File Format (“.TIFF”) or other electronic
means of delivery and in one or more counterparts, each of which when so executed shall be deemed to be an original, but all of which when taken together shall constitute one and the same instrument. 

6.06 Preliminary Statements. The Preliminary Statements set forth in this Amendment are accurate and shall form a
substantive part of the agreement of the parties hereto. 
 6.07 Headings. The headings, captions, and
arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment. 

6.08 Relationship. The relationship between the Borrowers and other Credit Parties on the one hand and the Lenders
and the Administrative Agent on the other hand shall be solely that of borrowers and guarantors, on the one hand, and lender on the other (or, in the case of the Warrants, the relationship is that the Parent is the issuer, and the applicable Lender
is the holder, of the applicable Warrant). Neither the Administrative Agent nor any Lender has any fiduciary relationship with or duty to any Borrower or other Credit Party arising out of or in connection with this Amendment or any of the other Loan
Documents or the Warrants or any related documents, and the relationship between the Borrowers and other Credit Parties, on the one hand, and the Administrative Agent and the Lenders, on the other hand, in connection herewith or therewith is solely
that of debtor and creditor (or, in the case of the Warrants, the relationship 

  
 -6-

 
is that the Parent is the issuer, and the applicable Lender is the holder, of the applicable Warrant). The Borrowers and other Credit Parties acknowledge that they have been advised by counsel in
the negotiation, execution and delivery of this Amendment and the other Loan Documents and the Warrants and any related documents. No joint venture or partnership is created hereby or by the other Loan Documents or by the Warrants or related
documents or otherwise exists by virtue of the transactions contemplated hereby or by the other Loan Documents (or the Warrants or related documents) among the Lenders or among the Borrowers (and other Credit Parties) and the Lenders (or the Agent).
It is acknowledged and agreed by all Lenders that each Lender is the owner of its individual Warrants which individual Warrants are exercisable by such Lender at its own election. No other Lender (or the Administrative Agent) has any obligations
with respect to the Warrants issued to any other Lender or for the performance or content of any Warrants issued to any other Lender. 
 6.09 Time is of the Essence. The parties hereto (i) have agreed specifically with regard to the times for performance set forth herein and in the other Loan Documents and
(ii) acknowledge and agree such times are material to this Amendment and the other Loan Documents. Therefore, time is of the essence with respect to this Agreement and the other Loan Documents. 

6.10 Jury Trial; Indemnification. Without limiting the generality of Sections 15.17, 15.18, 15.19 and
15.20 of the Credit Agreement, it is hereby agreed that the terms and provisions of such Sections shall apply to this Amendment and any transaction or matter contemplated by, in connection with or arising out of this Amendment. 

6.11 Applicable Law. THIS AMENDMENT AND ALL OTHER AGREEMENTS EXECUTED PURSUANT HERETO (EXCEPT AS EXPRESSLY SET FORTH IN ANY
SUCH AGREEMENT) SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL
OBLIGATIONS LAW). 
 6.12 Final Agreement. THE CREDIT AGREEMENT (AS AMENDED HEREBY) AND THE OTHER LOAN DOCUMENTS
REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF AND THEREOF ON THE DATE THIS AMENDMENT IS EXECUTED. THE CREDIT AGREEMENT (AS AMENDED HEREBY) AND THE OTHER LOAN DOCUMENTS MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING PROVISIONS, THE BORROWERS AND THE OTHER CREDIT PARTIES ACKNOWLEDGE AND
AGREE THAT NEITHER ANY LENDER NOR THE ADMINISTRATIVE AGENT HAS MADE ANY PROMISES OR ASSURANCES WITH RESPECT TO, AND THE BORROWERS AND OTHER CREDIT PARTIES ACKNOWLEDGE AND AGREE THAT THERE IS NO ORAL AGREEMENT WITH RESPECT TO, ANY FUTURE AMENDMENT,
WAIVER OR OTHER MODIFICATION OF THE LOAN DOCUMENTS OR ANY RESTRUCTURING OR WORKOUT THEREOF OR WITH RESPECT THERETO. WITHOUT LIMITING THE GENERALITY OF THE 

  
 -7-

 
FOREGOING, THE BORROWERS AND OTHER CREDIT PARTIES ACKNOWLEDGE AND AGREE THAT (1) THERE IS NO ORAL AGREEMENT AS TO ANY EXTENSION OF THE TERMINATION DATE OR FOR THE EXTENSION OF ANY OTHER DATE
FOR THE PAYMENT OF ANY OBLIGATIONS (OR FOR ANY EXTENSION OF ANY DATE FOR THE TERMINATION OF ANY COMMITMENTS) AND (2) NO FAILURE OF THE PARENT OR ANY OF THE OTHER CREDIT PARTIES TO OBTAIN THE REFINANCING (REGARDLESS OF WHETHER OR NOT THE PARENT
HAS USED ITS REASONABLE BEST EFFORTS TO OBTAIN THE REFINANCING) SHALL EXCUSE, OR DELAY THE PAYMENT OF ANY OF THE OBLIGATIONS WHEN DUE UNDER THE TERMS OF THE LOAN DOCUMENTS (OR, IN THE CASE OF OBLIGATIONS CONSISTING OF BANK PRODUCT OBLIGATIONS, UNDER
THE TERMS OF THE DOCUMENTS EVIDENCING SUCH BANK PRODUCT OBLIGATIONS). NO MODIFICATION, RESCISSION, WAIVER, RELEASE OR AMENDMENT OF ANY PROVISION OF THIS AMENDMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY THE BORROWERS AND THE REQUIRED
LENDERS AND (WITH RESPECT TO MATTERS AFFECTING THE ADMINISTRATIVE AGENT) THE ADMINISTRATIVE AGENT AND (WITH RESPECT TO MATTERS AFFECTING THE ISSUING LENDER) THE ISSUING LENDER. 

6.13 Release. EACH OF THE BORROWERS AND THE OTHER CREDIT PARTIES HEREBY ACKNOWLEDGES THAT, AS OF THE DATE HEREOF, IT HAS NO
DEFENSE, COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED (A) TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS APPLICABLE LIABILITIES UNDER ANY LOAN DOCUMENT, ANY BANK PRODUCT AGREEMENT
(INCLUDING ANY HEDGING AGREEMENT) WITH ANY LENDER, THE ADMINISTRATIVE AGENT OR ANY OF THEIR RESPECTIVE AFFILIATES OR UNDER THE WARRANTS OR ANY RELATED DOCUMENT AND/OR (B) TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM THE
ADMINISTRATIVE AGENT OR ANY OF THE LENDERS (OR ANY OF THEIR RESPECTIVE AFFILIATES). EACH OF THE BORROWERS AND THE OTHER CREDIT PARTIES HEREBY VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES THE ADMINISTRATIVE AGENT AND LENDERS, THEIR
PREDECESSORS, AGENTS, AFFILIATES, EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR
UNSUSPECTED, FIXED, CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH SUCH BORROWER OR OTHER CREDIT PARTY MAY NOW OR HEREAFTER HAVE AGAINST THE ADMINISTRATIVE
AGENT, LENDERS, THEIR PREDECESSORS, AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING OUT OF OR OTHERWISE IN ANY WAY
RELATING IN ANY WAY TO THIS AMENDMENT OR ANY OTHER LOAN DOCUMENT, HEDGING AGREEMENT, BANK PRODUCT AGREEMENT, THE OBLIGATIONS, THE WARRANTS OR ANY RELATED DOCUMENT, ANY OTHER TRANSACTION CONTEMPLATED BY ANY OF THE FOREGOING DOCUMENTS, OR ANY ACTION
OR OMISSION OF THE 

  
 -8-

 
ADMINISTRATIVE AGENT OR ANY LENDER UNDER OR OTHERWISE IN ANY WAY RELATING TO ANY OF THE FOREGOING DOCUMENTS. THE BORROWERS AND OTHER CREDIT PARTIES EXPRESSLY WAIVE ANY PROVISION OF STATUTORY OR
DECISIONAL LAW TO THE EFFECT THAT A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE RELEASING PARTY(IES) DOES NOT KNOW OR SUSPECT TO EXIST IN SUCH PARTY’S FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH, IF KNOWN BY SUCH PARTY, MUST OR
MIGHT HAVE MATERIALLY AFFECTED SUCH PARTY’S SETTLEMENT WITH THE RELEASED PARTIES. NOTHING CONTAINED IN THIS PARAGRAPH SHALL, OR SHALL BE INTERPRETED TO, IMPAIR ANY RIGHTS OF ANY BORROWER (OR OTHER CREDIT PARTY) WITH RESPECT TO ANY DEPOSIT OR
OTHER BANK ACCOUNTS OF SUCH BORROWER OR OTHER CREDIT PARTY (OR ANY OF THEIR RESPECTIVE SUBSIDIARIES) WITH ANY LENDER OR THE ADMINISTRATIVE AGENT. 
 [Remainder of Page Intentionally Left Blank] 

  
 -9-

 IN WITNESS WHEREOF, each of the parties hereto has executed this Amendment as of the date
first written above. 
  

					
	BALDWIN TECHNOLOGY COMPANY, INC.
		
	By:	 	 /s/ Mark T. Becker

		 	Name: Mark T. Becker
		 	Title: President and CEO
	
	BALDWIN GERMANY HOLDING GMBH
		
	By:	 	 /s/ Mark T. Becker

		 	Name:	 	Mark T. Becker
		 	Title:	 	Geschaftsfuhrer
	
	BALDWIN GERMANY GMBH
		
	By:	 	 /s/ Mark T. Becker

		 	Name:	 	Mark T. Becker
		 	Title:	 	Geschaftsfuhrer
	
	BALDWIN OXY-DRY GMBH
	(formerly known as OXY-DRY MASCHINEN GMBH)
		
	By:	 	 /s/ Mark T. Becker

		 	Name:	 	Mark T. Becker
		 	Title:	 	Geschaftsfuhrer

  
 [Signature
Page to Amendment No. 12 to Credit Agreement] 

 
			
	BALDWIN GRAPHIC SYSTEMS, INC.
		
	By:	 	 /s/ Leon Richards

			
	Name:	 	Leon Richards
	Title:	 	Treasurer
	
	OXY-DRY U.K., INC.

 
			
		
	By:	 	 /s/ Leon Richards

			
	Name:	 	Leon Richards
	Title:	 	Vice President
	
	BALDWIN SOUTHEAST ASIA CORPORATION
	(formerly known as Oxy-Dry Asia Pacific, Inc.)

 
			
		
	By:	 	 /s/ Leon Richards

			
	Name:	 	Leon Richards
	Title:	 	Vice President and Treasurer
	
	BALDWIN AMERICAS CORPORATION

 
			
		
	By:	 	 /s/ Leon Richards

			
	Name:	 	Leon Richards
	Title:	 	Vice President and Treasurer
	
	BALDWIN ASIA PACIFIC CORPORATION

 
			
		
	By:	 	 /s/ Leon Richards

			
	Name:	 	Leon Richards
	Title:	 	Vice President and Treasurer

  
 [Signature
Page to Amendment No. 12 to Credit Agreement] 

 
			
	MTC TRADING COMPANY
		
	By:	 	 /s/ Mark T. Becker

			
	Name:	 	Mark T. Becker
	Title:	 	President
	
	OXY-DRY CORPORATION

 
			
		
	By:	 	 /s/ Mark T. Becker

			
	Name:	 	Mark T. Becker
	Title:	 	President
	
	BALDWIN EUROPE CONSOLIDATED INC.

 
			
		
	By:	 	 /s/ Mark T. Becker

			
	Name:	 	Mark T. Becker
	Title:	 	President

  
 [Signature
Page to Amendment No. 12 to Credit Agreement] 

 
			
	BALDWIN EUROPE CONSOLIDATED B.V.
	
	By: Baldwin Graphic Equipment BV
		
	By:	 	 /s/ Mark T. Becker

	Name(s): Mark T. Becker
	Title: Managing Director
		
	By:	 	 /s/ Jacobus Willems

	Name(s): Jacobus Willems
	Title: Managing Director
	
	BALDWIN GRAPHIC EQUIPMENT B.V.
		
	By:	 	 /s/ Mark T. Becker

	Name(s): Mark T. Becker
	Title: Managing Director
		
	By:	 	 /s/ Jacobus Willems

	Name(s): Jacobus Willems
	Title: Managing Director
	
	HORIZON LAMPS, INC.
		
	By:	 	 /s/ Leon Richards

	Name: Leon Richards
	Title: Treasurer

  
 [Signature
Page to Amendment No. 12 to Credit Agreement] 

 
			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	 /s/ Roberto Salazar

	Name: Roberto Salazar
	Title: Vice President
	
	BANK OF AMERICA, N.A., as Lender
		
	By:	 	 /s/ Anthony D. Healey

	Name: Anthony D. Healey
	Title: Senior Vice President

  
 [Signature
Page to Amendment No. 12 to Credit Agreement] 

 
			
	WEBSTER BANK, NATIONAL ASSOCIATION, as Lender
		
	By:	 	 /s/ Stephen Corcoran

	Name: Stephen Corcoran
	Title: Senior Vice President

  
 [Signature
Page to Amendment No. 12 to Credit Agreement] 

 
			
	RBS CITIZENS, N.A., as Lender
		
	By:	 	  

			
	Name:	 	
	Title:	 	

  
 [Signature
Page to Amendment No. 12 to Credit Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}]]