Document:

EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 
 This
Indemnification Agreement, dated             , is made between Connecture, Inc., a Delaware corporation (the “Company”),
and             (the “Indemnitee”). 
 RECITALS 

A. The Company desires to attract and retain the services of talented and experienced individuals, such as Indemnitee, to serve as directors
and officers of the Company and its subsidiaries and wishes to indemnify its directors and officers to the maximum extent permitted by law; 

B. The Company and Indemnitee recognize that corporate litigation in general has subjected directors and officers to expensive litigation
risks; 
 C. Section 145 of the General Corporation Law of Delaware, under which the Company is organized
(“Section 145”), empowers the Company to indemnify its directors and officers by agreement and to indemnify persons who serve, at the request of the Company, as the directors and officers of other corporations or enterprises,
and expressly provides that the indemnification provided by Section 145 is not exclusive; 
 D. Section 145(g) allows for the
purchase of management liability (“D&O”) insurance by the Company, which in theory can cover asserted liabilities without regard to whether they are indemnifiable or not; 

E. Individuals considering service or presently serving expect to be extended market terms of indemnification commensurate with their position,
and that entities such as Company will endeavor to maintain appropriate D&O insurance; and 
 F. In order to induce Indemnitee to serve
or continue to serve as a director or officer of the Company and/or one or more subsidiaries of the Company, the Company and Indemnitee enter into this Agreement. 

AGREEMENT 
 NOW,
THEREFORE, Indemnitee and the Company hereby agree as follows: 
 1. Definitions. As used in this Agreement: 

(a) “Agent” means any person who is or was a director, officer, employee or other agent of the Company or a subsidiary of the
Company; or is or was serving at the request of, for the convenience of, or to represent the interests of the Company or a subsidiary of the Company as a director, officer, employee or agent of another foreign or domestic corporation, limited
liability company, employee benefit plan, nonprofit entity, partnership, joint venture, trust or other enterprise; or was a director, officer, employee or agent of a foreign or domestic corporation which was a predecessor corporation of the Company
or a subsidiary of the Company, or was a director, officer, employee or agent of another enterprise at the request of, for the convenience of, or to represent the interests of such predecessor corporation. 

(b) “Board” means the Board of Directors of the Company. 

(c) A “Change in Control” shall be deemed to have occurred if (i) any “person,” as such term is used in
Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or
indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly,
of securities of the Company representing a majority of the total voting power represented by the Company’s then outstanding voting securities, (ii) during any period of two consecutive years, individuals who at the beginning of such
period constituted the Board, together with any new directors whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in office who either
were directors at the beginning of the period or whose election or nomination was previously so approved, cease for any reason to constitute a majority of the Board, (iii) the stockholders of the

 
Company approve a merger or consolidation or a sale of all or substantially all of the Company’s assets with or to another entity, other than a merger, consolidation or asset sale that would
result in the holders of the Company’s outstanding voting securities immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least a majority of
the total voting power represented by the voting securities of the Company or such surviving or successor entity outstanding immediately thereafter, or (iv) the stockholders of the Company approve a plan of complete liquidation of the Company.

 (d) “Expenses” shall include all out-of-pocket costs of any type or nature whatsoever (including, without limitation, all
attorneys’ fees and related disbursements), actually and reasonably incurred by Indemnitee in connection with either the investigation, defense or appeal of a Proceeding or establishing or enforcing a right to indemnification under this
Agreement, or Section 145 or otherwise; provided, however, that “Expenses” shall not include any judgments, fines, ERISA excise taxes or penalties, or amounts paid in settlement of a Proceeding. 

(e) “Independent Counsel” means a law firm, or a partner (or, if applicable, member) of such a law firm, that has at least ten
years of experience in relevant matters of corporation law and neither currently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter material to either such party or (ii) any other
party to or witness in the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional
conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

(f) “Proceeding” means any threatened, pending, or completed action, claim, suit, arbitration, alternate dispute resolution
mechanism, investigation, administrative hearing or any other proceeding whether formal or informal, civil, criminal, administrative, or investigative, including any such investigation or proceeding instituted by or on behalf of the Corporation or
its Board of Directors, in which Indemnitee is or reasonably may be involved as a party or target, that is associated with Indemnitee’s being an Agent of the Corporation. 

(g) “Subsidiary” means any corporation of which more than 50% of the outstanding voting securities is owned directly or
indirectly by the Company, by the Company and one or more other subsidiaries, or by one or more other subsidiaries. 
 2. Agreement
to Serve. Indemnitee agrees to serve and/or continue to serve as an Agent of the Company, at its will (or under separate agreement, if such agreement exists), in the capacity Indemnitee currently serves as an Agent of the Company, so long as
Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the Bylaws of the Company or any subsidiary of the Company or until such time as Indemnitee tenders his or her resignation in writing; provided,
however, that nothing contained in this Agreement is intended to create any right to continued employment or other service by Indemnitee. 

3. Liability Insurance. 

(a) Maintenance of D&O Insurance. The Company hereby covenants and agrees that, so long as Indemnitee shall continue to serve
as an Agent of the Company and thereafter so long as Indemnitee shall be subject to any possible Proceeding by reason of the fact that Indemnitee was an Agent of the Company, the Company, subject to Section 3(c), shall promptly obtain and
maintain in full force and effect directors’ and officers’ liability insurance (“D&O Insurance”) in reasonable amounts from established and reputable insurers, as more fully described below. In the event of a Change in
Control, the Company shall, as set forth in Section (c) below, either: i) maintain such D&O Insurance for six years; or ii) purchase a six year tail for such D&O Insurance. 

(b) Rights and Benefits. In all policies of D&O Insurance, Indemnitee shall qualify as an insured in such a manner as to
provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s independent directors (as defined by the insurer) if Indemnitee is such an independent director; of the Company’s
non-independent directors if Indemnitee is not an independent director; of the Company’s officers if Indemnitee is an officer of the Company; or of the Company’s key employees, if Indemnitee is not a director or officer but is a key
employee. 
 (c) Limitation on Required Maintenance of D&O Insurance. Notwithstanding the foregoing, the Company shall have
no obligation to obtain or maintain D&O Insurance at all, or of any type, terms, or amount, if the Company determines in good faith that: such insurance is not reasonably available; the premium costs for such

 
insurance are disproportionate to the amount of coverage provided; the coverage provided by such insurance is limited so as to provide an insufficient or unreasonable benefit; Indemnitee is
covered by similar insurance maintained by a subsidiary of the Company; or the Company is to be acquired and a tail policy of reasonable terms and duration can be purchased for pre-closing acts or omissions by Indemnitee. 

4. Mandatory Indemnification. Subject to the terms of this Agreement: 

(a) Third Party Actions. If Indemnitee is a person who was or is a party or is threatened to be made a party to any Proceeding
(other than an action by or in the right of the Company) by reason of the fact that Indemnitee is or was an Agent of the Company, or by reason of anything done or not done by Indemnitee in any such capacity, the Company shall indemnify Indemnitee
against all Expenses and liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes and penalties, and amounts paid in settlement) actually and reasonably incurred by Indemnitee in connection with the
investigation, defense, settlement or appeal of such Proceeding, provided Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to any criminal
action or Proceeding, had no reasonable cause to believe his or her conduct was unlawful. 
 (b) Derivative Actions. If
Indemnitee is a person who was or is a party or is threatened to be made a party to any Proceeding by or in the right of the Company by reason of the fact that Indemnitee is or was an Agent of the Company, or by reason of anything done or not done
by Indemnitee in any such capacity, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement or appeal of such Proceeding, provided
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company; except that no indemnification under this Section 4(b) shall be made in respect to any claim, issue or
matter as to which Indemnitee shall have been finally adjudged to be liable to the Company by a court of competent jurisdiction unless and only to the extent that the Delaware Court of Chancery or the court in which such Proceeding was brought shall
determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnity for such amounts which the Delaware Court of Chancery or such other
court shall deem proper. 
 (c) Actions where Indemnitee is Deceased. If Indemnitee is a person who was or is a party or is
threatened to be made a party to any Proceeding by reason of the fact that Indemnitee is or was an Agent of the Company, or by reason of anything done or not done by Indemnitee in any such capacity, and if, prior to, during the pendency of or after
completion of such Proceeding Indemnitee is deceased, the Company shall indemnify Indemnitee’s heirs, executors and administrators against all Expenses and liabilities of any type whatsoever to the extent Indemnitee would have been entitled to
indemnification pursuant to this Agreement were Indemnitee still alive. 
 (d) Certain Terminations. The termination of any
Proceeding or of any claim, issue, or matter therein by judgment, order, settlement, or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of
itself create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal action or Proceeding, that
Indemnitee had reasonable cause to believe that Indemnitee’s conduct was unlawful. 
 (e) Limitations. Notwithstanding the
foregoing provisions of Sections 4(a), 4(b), 4(c) and 4(d) hereof, but subject to the exception set forth in Section 14 which shall control, the Company shall not be obligated to indemnify the Indemnitee for Expenses or liabilities of any type
whatsoever for which payment (and the Company’s indemnification obligations under this Agreement shall be reduced by such payment) is actually made to or on behalf of Indemnitee, by the Company or otherwise, under a corporate insurance policy,
or under a valid and enforceable indemnity clause, right, by-law, or agreement; and, in the event the Company has previously made a payment to Indemnitee for an Expense or liability of any type whatsoever for which payment is actually made to or on
behalf of the Indemnitee under an insurance policy, or under a valid and enforceable indemnity clause, by-law or agreement, Indemnitee shall return to the Company the amounts subsequently received by the Indemnitee from such other source of
indemnification. 

 (f) Witness. In the event that Indemnitee is not a party or threatened to be
made a party to a Proceeding, but is subpoenaed (or given a written request to be interviewed by a government authority) in such a Proceeding by reason of the fact that the Indemnitee is or was an Agent of the Company, or by reason of anything
witnessed or allegedly witnessed by the Indemnitee in that capacity, the Company shall indemnify the Indemnitee against all actually and reasonably incurred out of pocket costs of any type or nature whatsoever (including, without limitation, all
attorneys’ fees and related disbursements), actually and reasonably incurred by Indemnitee in responding to such subpoena or written request for an interview. As a condition to this right, Indemnitee must provide notice of such subpoena or
request to the Company within 14 days of Indemnitee’s actual receipt thereof (this notice condition shall control over Section 7(a), which shall not apply to this section 4(f)). 

5. Indemnification for Expenses in a Proceeding in Which Indemnitee is Wholly or Partly Successful. 

(a) Successful Defense. Notwithstanding any other provisions of this Agreement, to the extent Indemnitee has been successful, on
the merits or otherwise, in defense of any Proceeding (including, without limitation, an action by or in the right of the Company) in which Indemnitee was a party by reason of the fact that Indemnitee is or was an Agent of the Company at any time,
the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection with the investigation, defense or appeal of such Proceeding. 

(b) Partially Successful Defense. Notwithstanding any other provisions of this Agreement, to the extent that Indemnitee is a party
to any Proceeding (including, without limitation, an action by or in the right of the Company) in which Indemnitee was a party by reason of the fact that Indemnitee is or was an Agent of the Company at any time and is successful, on the merits or
otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by or on behalf of Indemnitee in connection with each
successfully resolved claim, issue or matter. 
 (c) Dismissal. For purposes of this section and without limitation, the
termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

(d) Contribution. If the indemnification provided in this Agreement is unavailable and may not be paid to Indemnitee, then to the
extent allowed by law, in respect of any threatened, pending or completed action, suit or proceeding in which the Company is jointly liable with Indemnitee (or would be if joined in such action, suit or proceeding), the Company shall contribute to
the amount of expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by Indemnitee in such proportion as is appropriate to reflect (i) the relative
benefits received by the Company on the one hand and Indemnitee on the other hand from the transaction from which such action, suit or proceeding arose, and (ii) the relative fault of Company on the one hand and of Indemnitee on the other in
connection with the events which resulted in such expenses, judgments, fines or settlement amounts, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of Indemnitee on the other shall be
determined by reference to, among other things, the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent the circumstances resulting in such expenses, judgments, fines or settlement amounts. The
Company agrees that it would not be just and equitable if contribution pursuant to this section were determined by pro rata allocation or any other method of allocation which does not take account of the foregoing equitable considerations. 

6. Mandatory Advancement of Expenses. 

(a) Subject to the terms of this Agreement and following notice pursuant to Section 7(a) below, the Company shall advance all Expenses
reasonably incurred by Indemnitee in connection with the investigation, defense, settlement or appeal of any Proceeding to which Indemnitee is a party or is threatened to be made a party by reason of the fact that Indemnitee is or was an Agent of
the Company (unless there has been a final determination that establishes that Indemnitee is not entitled to indemnification for such Expenses) upon receipt satisfactory documentation supporting such Expenses. By execution of this Agreement,
Indemnitee agrees to repay the amount advanced only in the event and to the extent that it shall ultimately be determined that Indemnitee is not entitled to indemnification by the Company to the extent set forth in this agreement and under Delaware
law. Such advances are intended to be an obligation of the Company to Indemnitee hereunder and shall in no event be deemed to be a 

 
personal loan. Such advancement of Expenses shall otherwise be unsecured and without regard to Indemnitee’s ability to repay. The advances to be made hereunder shall be paid by the Company
to Indemnitee within 30 days following delivery of a written request therefore by Indemnitee to the Company, along with such documentation and information as is reasonably available to the claimant and is reasonably necessary to determine whether
and to what extent the claimant is entitled to advancement (which shall include without limitation detailed invoices for legal services). The Company shall discharge its advancement duty by, at its option, (a) paying such Expenses on behalf of
Indemnitee, (b) advancing to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimbursing Indemnitee for Expenses already paid by Indemnitee. In the event that the Company fails to pay Expenses as incurred by
Indemnitee as required by this paragraph, Indemnitee may seek mandatory injunctive relief (including without limitation specific performance) from any court having jurisdiction to require the Company to pay Expenses as set forth in this paragraph.
If Indemnitee seeks mandatory injunctive relief pursuant to this paragraph, it shall not be a defense to enforcement of the Company’s obligations set forth in this paragraph that Indemnitee has an adequate remedy at law for damages. 

(b) Undertakings. Indemnitee shall qualify for advances upon the execution and delivery to the Company of this Agreement,
which constitutes an undertaking whereby Indemnitee promises to repay any amounts advances in the event there shall be a final determination that Indemnitee is not entitled to indemnification by the Company. 

7. Notice and Other Indemnification Procedures. 

(a) Notice by Indemnitee. Promptly after receipt by Indemnitee of notice of the commencement of or the threat of commencement of
any Proceeding, Indemnitee shall, if Indemnitee believes that indemnification with respect thereto may be sought from the Company under this Agreement, notify the Company in writing of the commencement or threat of commencement thereof.
Notwithstanding the foregoing, any failure of Indemnitee to provide such a notice to the Company, or to provide such a notice in a timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee unless, and to the
extent that, such failure actually and materially prejudices the interests of the Company. 
 (b) Insurance. If the Company
receives notice pursuant to Section 7(a) hereof of the commencement of a Proceeding that may be covered under D&O Insurance then in effect, the Company shall give prompt notice of the commencement of such Proceeding to the insurers in
accordance with the procedures set forth in the respective policies. 
 (c) Defense. In the event the Company shall be obligated
to pay the Expenses of any Proceeding against Indemnitee, the Company shall be entitled to assume the defense of such Proceeding, with counsel selected by the Company and approved by Indemnitee (which approval shall not be unreasonably withheld),
upon the delivery to Indemnitee of written notice of the Company’s election so to do. After delivery of such notice, and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any
fees of counsel subsequently incurred by Indemnitee with respect to the same Proceeding, provided that (i) Indemnitee shall have the right to employ his or her own counsel in any such Proceeding at Indemnitee’s expense; and
(ii) Indemnitee shall have the right to employ his or her own counsel in any such Proceeding at the Company’s expense if (A) the Company has authorized the employment of counsel by Indemnitee at the expense of the Company;
(B) Indemnitee shall have reasonably concluded based on the written advice of Indemnitee’s legal counsel that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense; or (C) the
Company shall not, in fact, have employed counsel to assume the defense of such Proceeding. In addition to all the requirements above, if the Company has D&O Insurance, or other insurance, with a panel counsel requirement that may cover the
matter for which indemnity is claimed by Indemnitee, then Indemnitee shall use such panel counsel or other counsel approved by the insurers, unless there is an actual conflict of interest posed by representation by all such counsel, or unless and to
the extent Company waives such requirement in writing. Indemnitee and its counsel shall provide reasonable cooperation with such insurer on request of the Company. 

8. Right to Indemnification. 

(a) Right to Indemnification. In the event that Section 5(a) is inapplicable, the Company shall indemnify Indemnitee pursuant
to this Agreement unless, and except to the extent that, it shall have been determined by one of the methods listed in Section 8(b) that Indemnitee has not met the applicable standard of conduct required to entitle Indemnitee to such
indemnification. 

 (b) Determination of Right to Indemnification. A determination of Indemnitee’s
right to indemnification under this Section 8 shall be made at the election of the Board by (i) a majority vote of directors who are not parties to the Proceeding for which indemnification is being sought, even though less than a quorum,
or by a committee consisting of directors who are not parties to the Proceeding for which indemnification is being sought, who, even though less than a quorum, have been designated by a majority vote of the disinterested directors, or (ii) if
there are no such disinterested directors or if the disinterested directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee. However, in the event there has been a Change in
Control, then the determination shall, at Indemnitee’s sole option, be made by Independent Counsel as in (b)(ii), above, with Indemnitee choosing the Independent Counsel subject to Company’s consent, such consent not to be unreasonably
withheld. 
 (c) Submission for Decision. As soon as practicable, and in no event later than 30 days after Indemnitee’s
written request for indemnification, the Board shall select the method for determining Indemnitee’s right to indemnification. Indemnitee shall cooperate with the person or persons or entity making such determination with respect to
Indemnitee’s right to indemnification, including providing to such person, persons or entity, upon reasonable advance request, any documentation or information which is not privileged or otherwise protected from disclosure and which is
reasonably available to Indemnitee and reasonably necessary to such determination. Any Independent Counsel or member of the Board shall act reasonably and in good faith in making a determination regarding Indemnitee’s entitlement to
indemnification under this Agreement. 
 (d) Application to Court. If (i) a claim for indemnification or advancement of
Expenses is denied, in whole or in part, (ii) no disposition of such claim is made by the Company within 60 days after the request therefore, (iii) the advancement of Expenses is not timely made pursuant to Section 6 of this Agreement
or (iv) payment of indemnification is not made pursuant to Section 5 of this Agreement, Indemnitee shall have the right to apply to the Delaware Court of Chancery, the court in which the Proceeding is or was pending, or any other court of
competent jurisdiction, for the purpose of enforcing Indemnitee’s right to indemnification (including the advancement of Expenses) pursuant to this Agreement. 

(e) Expenses Related to the Enforcement or Interpretation of this Agreement. The Company shall indemnify Indemnitee against all
reasonable Expenses incurred by Indemnitee in connection with any hearing or proceeding under this Section 8 involving Indemnitee, and against all reasonable Expenses incurred by Indemnitee in connection with any other proceeding between the
Company and Indemnitee involving the interpretation or enforcement of the rights of Indemnitee under this Agreement, if and to the extent Indemnitee is successful. 

(f) In no event shall Indemnitee’s right to indemnification (apart from advancement of Expenses) be determined prior to a final
adjudication in the Proceeding at issue if the Proceeding is both ongoing, and of the nature to have a final adjudication. 
 (g) In any
proceeding to determine Indemnitee’s right to indemnification or advancement, Indemnitee shall be presumed to be entitled to indemnification or advancement, with the burden of proof on the Company to prove, by a preponderance of the evidence
(or higher standard if required by relevant law) that Indemnitee is not so entitled. 
 (h) Indemnitee shall be fully indemnified for those
matters where, in the performance of his duties for the Company, he relied in good faith upon the records of the Company and upon such information, opinions, reports or statements presented to the Company by any of the Company’s officers or
employees, or committees of the board of directors, or by any other person as to matters Indemnitee reasonably believed were within such other person’s professional or expert competence and who was selected with reasonable care by or on behalf
of the Company. 
 (i) The knowledge or actions, or failure to act, of any director, officer, agent, or employee of the Corporation, or the
Corporation itself, shall not be imputed to Indemnitee for purposes of determining any rights hereunder. 

 9. Exceptions. Any other provision herein to the contrary notwithstanding, the
Company shall not be obligated: 
 (a) Claims Initiated by Indemnitee. To indemnify or advance Expenses to Indemnitee with
respect to Proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, with a reasonable allocation where appropriate, unless (i) such indemnification is expressly required to be made by law, (ii) the
Proceeding was authorized by the Board, (iii) such indemnification is provided by the Company, in its sole discretion, pursuant to the powers vested in the Company under the General Corporation Law of Delaware or (iv) the Proceeding is
brought pursuant to Section 8 specifically to establish or enforce a right to indemnification under this Agreement or any other statute or law or otherwise as required under Section 145 in advance of a final determination, in which case
8(e)’s fees-on-fees provision shall control; 
 (b) Fees on Fees. To indemnify Indemnitee for any Expenses incurred by
Indemnitee with respect to any Proceeding instituted by Indemnitee to enforce or interpret this Agreement, to the extent Indemnitee is not successful in such a Proceeding; 

(c) Unauthorized Settlements. To indemnify Indemnitee under this Agreement for any amounts paid in settlement of a Proceeding
unless the Company consents to such settlement, which consent shall not be unreasonably withheld; 
 (d) Claims Under
Section 16(b). To indemnify Indemnitee for Expenses associated with any Proceeding related to, or the payment of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company within the meaning of
Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of state statutory law or common law (provided, however, that the Company must advance Expenses for such matters as otherwise permissible under this
Agreement); or 
 (e) Payments Contrary to Law. To indemnify or advance Expenses to Indemnitee for which payment is prohibited by
applicable law. 
 10. Non-Exclusivity. The provisions for indemnification and advancement of Expenses set forth in this
Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or Bylaws, the vote of the Company’s stockholders or disinterested directors,
other agreements, or otherwise, both as to action in Indemnitee’s official capacity and as to action in another capacity while occupying Indemnitee’s position as an Agent of the Company. However, this Agreement replaces any prior
contractual indemnification agreement between Indemnitee and Company (including when operating under a different name). Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an Agent of the Company and shall inure
to the benefit of the heirs, executors and administrators of Indemnitee. 
 11. Permitted Defenses. It shall be a defense to any
action for which a claim for indemnification is made under this Agreement (other than an action brought to enforce a claim for Expenses pursuant to Section 6 hereof, provided that the required documents have been tendered to the Company) that
Indemnitee is not entitled to indemnification because of the limitations set forth in Sections 4 and 9 hereof. Neither the failure of the Company (including its Board of Directors) or an Independent Counsel to have made a determination prior to
the commencement of such enforcement action that indemnification of Indemnitee is proper in the circumstances, nor an actual determination by the Company (including its Board of Directors) or an Independent Counsel that such indemnification is
improper, shall be a defense to the action or create a presumption that Indemnitee is not entitled to indemnification under this Agreement or otherwise. 

12. Subrogation. In the event the Company is obligated to make a payment under this Agreement, the Company shall be subrogated to
the extent of such payment to all of the rights of recovery under any corporate insurance policy or any other indemnity agreement covering Indemnitee, who shall execute all documents reasonably required and take all action that may be necessary to
secure such rights and to enable the Company effectively to bring suit to enforce such rights (provided that the Company pays Indemnitee’s costs and expenses of doing so), including without limitation by assigning all such rights to the Company
or its designee to the extent of such indemnification or advancement of Expenses. The Company’s obligation to indemnify or advance expenses under this Agreement shall be reduced by any amount Indemnitee has collected from such other source, and
in the event that Company has fully paid such indemnity or expenses, Indemnitee shall return to the Company any amounts subsequently received from such other source of indemnification. With regard to Fund Indemnitors, however, Section 13 shall
control over this section. 
 13. Primacy of Indemnification. The Company hereby acknowledges that Indemnitee may have certain
rights to indemnification, advancement of expenses or liability insurance provided by a third-party investor and certain of its affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees that (i) it is the indemnitor
of first 

 
resort, i.e., its obligations to Indemnitee under this Agreement and any indemnity provisions set forth in its Certificate of Incorporation, Bylaws or elsewhere (collectively,
“Indemnity Arrangements”) are primary, and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee is secondary and excess, (ii) it shall
advance the full amount of expenses incurred by Indemnitee and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of Indemnitee, to the extent legally permitted and as
required by any Indemnity Arrangement, without regard to any rights Indemnitee may have against the Fund Indemnitors, and (iii) it irrevocably waives, relinquishes and releases the Fund Indemnitors from any claims against the Fund Indemnitors
for contribution, subrogation or any other recovery relating to any Indemnity Arrangement. The Company further agrees that no advancement or indemnification payment by any Fund Indemnitor on behalf of Indemnitee shall affect the foregoing, and the
Fund Indemnitors shall be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Company and Indemnitee agree that the Fund Indemnitors are express third party beneficiaries of
the terms of this Section 13. The Company, on its own behalf and on behalf of its insurers to the extent allowed by the policies, waives subrogation rights against Indemnitee. 

14. Survival of Rights. 

(a) All agreements and obligations of the Company contained herein shall continue during the period Indemnitee is an Agent of the Company and
shall continue thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding by reason of the fact that Indemnitee was serving in the capacity referred to herein. 

(b) The Company shall require any successor to the Company (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all
or substantially all of the business or assets of the Company, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

 15. Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced
so as to provide indemnification to Indemnitee to the fullest extent permitted by law, including those circumstances in which indemnification would otherwise be discretionary. 

16. Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any
reason whatsoever, (i) the validity, legality and enforceability of the remaining provisions of the Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent possible, the provisions of this Agreement (including, without limitation,
all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested
by the provision held invalid, illegal or unenforceable. 
 17. Modification and Waiver. No supplement, modification or amendment
of this Agreement shall be binding unless it is in a writing signed by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not
similar) nor shall such waiver constitute a continuing waiver. In the event of any change after the date of this Agreement in any applicable law that expands the right of a Delaware corporation to indemnify a member of an Agent in the same capacity
as Indemnitee, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change. Any narrowing change in any applicable law, however, shall have no effect on the rights and obligations
under this Agreement other than as may be required by law. 
 18. Notice. All notices, requests, demands and other communications
under this Agreement shall be in writing and shall be deemed to have been duly given (a) upon delivery if delivered by hand to the party to whom such notice or other communication shall have been directed, (b) if mailed by certified or
registered mail with postage prepaid, return receipt requested, on the third business day after the date on which it is so mailed, (c) one business day after the business day of deposit with a nationally recognized overnight delivery service,
specifying next day delivery, with written verification of receipt, or (d) on the same day as delivered by confirmed facsimile transmission if delivered during business hours or on the next successive business day if delivered by confirmed
facsimile transmission after business hours. Addresses for notice to either party shall be as shown on the signature page of this Agreement, or to such other address as may have been furnished by either party in the manner set forth above. 

 19. Governing Law. This Agreement shall be governed exclusively by and construed
according to the laws of the State of Delaware as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware. This Agreement is intended to be an agreement of the type contemplated by
Section 145(f) of the General Corporation Law of Delaware. 
 20. Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforcement is sought needs to be
produced to evidence the existence of this Agreement. 
 The parties hereto have entered into this Indemnification Agreement, including the
undertaking contained herein, effective as of the date first above written. 
  

									
	Indemnitee:	 		 	Connecture, Inc.:
					
		 	 	 		 	By:	 	 
					
		 		 		 	Name:	 	 
					
	Address:	 	 	 		 	Title:EX-10.3.1

 Exhibit 10.3.1 
  

 
  

 

					
	 

	  	  
  

CREDIT AGREEMENT
	  	
	  	  
 by and among
	  
	  	  
 WELLS FARGO BANK, NATIONAL ASSOCIATION,
	  
	  	  
 as Administrative Agent,
	  
	  	  
 THE LENDERS THAT ARE PARTIES HERETO
	  
	  	  
 as the Lenders,
	  
	  	  
 and
	  
	  	  
 CONNECTURE, INC.
	  
	  	  
 and
	  
	  	  
 DESTINATIONRX, INC.
	  
	  	  
 as Borrowers
	  
	  	  
 Dated as of January 15, 2013
	  

  
  

 

 CREDIT AGREEMENT 

THIS CREDIT AGREEMENT (this “Agreement”), is entered into as of January 15, 2013, by and among the lenders
identified on the signature pages hereof (each of such lenders, together with its successors and permitted assigns, is referred to hereinafter as a “Lender”, as that term is hereinafter further defined), WELLS FARGO BANK,
NATIONAL ASSOCIATION, a national banking association, as administrative agent for each member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity,
“Agent”), CONNECTURE, INC., a Delaware corporation (“Connecture”), and DESTINATIONRX, INC., a Delaware corporation (“DRX”; together with Connecture, are referred to hereinafter each
individually as a “Borrower”, and individually and collectively, jointly and severally, as the “Borrowers”). 

The parties agree as follows: 
 1.
DEFINITIONS AND CONSTRUCTION. 
 1.1 Definitions. Capitalized terms used in this Agreement shall have the meanings
specified therefor on Schedule 1.1. 
 1.2 Accounting Terms. All accounting terms not specifically defined herein shall
be construed in accordance with GAAP; provided, that if Borrowers notify Agent that Borrowers request an amendment to any provision hereof to eliminate the effect of any Accounting Change occurring after the Closing Date or in the application
thereof on the operation of such provision (or if Agent notifies Borrowers that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such Accounting
Change or in the application thereof, then Agent and Borrowers agree that they will negotiate in good faith amendments to the provisions of this Agreement that are directly affected by such Accounting Change with the intent of having the respective
positions of the Lenders and Borrowers after such Accounting Change conform as nearly as possible to their respective positions as of the date of this Agreement and, until any such amendments have been agreed upon and agreed to by the Required
Lenders, the provisions in this Agreement shall be calculated as if no such Accounting Change had occurred. When used herein, the term “financial statements” shall include the notes and schedules thereto. Whenever the term
“Borrowers” is used in respect of a financial covenant or a related definition, it shall be understood to mean Borrowers and their Subsidiaries on a consolidated basis, unless the context clearly requires otherwise. Notwithstanding
anything to the contrary contained herein, (a) all financial statements delivered hereunder shall be prepared, and all financial covenants contained herein shall be calculated, without giving effect to any election under the Statement of
Financial Accounting Standards No. 159 (or any similar accounting principle) permitting a Person to value its financial liabilities or Indebtedness at the fair value thereof, and (b) the term “unqualified opinion” as used herein
to refer to opinions or reports provided by accountants shall mean an opinion or report that is (i) unqualified, and (ii) does not include any explanation, supplemental comment, or other comment concerning the ability of the applicable
Person to continue as a going concern or concerning the scope of the audit. 
 1.3 Code. Any terms used in this Agreement that
are defined in the Code shall be construed and defined as set forth in the Code unless otherwise defined herein; provided, that to the extent that the Code is used to define any term herein and such term is defined differently in different
Articles of the Code, the definition of such term contained in Article 9 of the Code shall govern. 
 1.4 Construction. Unless
the context of this Agreement or any other Loan Document clearly requires otherwise, references to the plural include the singular, references to the singular include the plural, the terms “includes” and “including” are not
limiting, and the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or.” The words “hereof,” “herein,” “hereby,” “hereunder,” and similar
terms in this Agreement or any other Loan Document refer to this Agreement or such other Loan Document, as the case may be, as a whole and not to any particular provision of this Agreement or such other

  
 - 1 - 

 
Loan Document, as the case may be. Section, subsection, clause, schedule, and exhibit references herein are to this Agreement unless otherwise specified. Any reference in this Agreement or in any
other Loan Document to any agreement, instrument, or document shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements, thereto and thereof, as applicable
(subject to any restrictions on such alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, joinders, and supplements set forth herein). The words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties. Any reference herein or in any other Loan Document to the satisfaction, repayment, or payment in full of the Obligations shall
mean (a) the payment or repayment in full in immediately available funds of (i) the principal amount of, and interest accrued and unpaid with respect to, all outstanding Loans, together with the payment of any premium applicable to the
repayment of the Loans, (ii) all Lender Group Expenses that have accrued and are unpaid regardless of whether demand has been made therefor, (iii) all fees or charges that have accrued hereunder or under any other Loan Document (including
the Letter of Credit Fee and the Unused Line Fee) and are unpaid, (b) in the case of contingent reimbursement obligations with respect to Letters of Credit, providing Letter of Credit Collateralization, (c) in the case of obligations with
respect to Bank Products (other than Hedge Obligations), providing Bank Product Collateralization, (d) the receipt by Agent of cash collateral in order to secure any other contingent Obligations for which a claim or demand for payment has been
made on or prior to such time or in respect of matters or circumstances known to Agent or a Lender at such time that are reasonably expected to result in any loss, cost, damage, or expense (including attorneys fees and legal expenses), such cash
collateral to be in such amount as Agent reasonably determines is necessary to secure such contingent Obligations, (e) the payment or repayment in full in immediately available funds of all other outstanding Obligations (including the payment
of any termination amount then applicable (or which would or could become applicable as a result of the repayment of the other Obligations) under Hedge Agreements provided by Hedge Providers) other than (i) unasserted contingent indemnification
Obligations, (ii) any Bank Product Obligations (other than Hedge Obligations) that, at such time, are allowed by the applicable Bank Product Provider to remain outstanding without being required to be repaid or cash collateralized, and
(iii) any Hedge Obligations that, at such time, are allowed by the applicable Hedge Provider to remain outstanding without being required to be repaid, and (f) the termination of all of the Commitments of the Lenders. Any reference herein
to any Person shall be construed to include such Person’s successors and assigns. Any requirement of a writing contained herein or in any other Loan Document shall be satisfied by the transmission of a Record. 

1.5 Time References. Unless the context of this Agreement or any other Loan Document clearly requires otherwise, all references
to time of day refer to Pacific standard time or Pacific daylight saving time, as in effect in Los Angeles, California on such day. For purposes of the computation of a period of time from a specified date to a later specified date, the word
“from” means “from and including” and the words “to” and “until” each means “to and including”; provided that, with respect to a computation of fees or interest payable to Agent or any Lender,
such period shall in any event consist of at least one full day. 
 1.6 Schedules and Exhibits. All of the schedules and
exhibits attached to this Agreement shall be deemed incorporated herein by reference. 
 2. LOANS AND TERMS OF PAYMENT. 

2.1 Revolving Loans. 

(a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Revolving Lender agrees (severally, not
jointly or jointly and severally) to make revolving loans (“Revolving Loans”) to Borrowers in an amount at any one time outstanding not to exceed the lesser of: 

(i) such Lender’s Revolver Commitment, or 

(ii) such Lender’s Pro Rata Share of an amount equal to (A) the Maximum Revolver Amount less (B) the sum of
(1) the Letter of Credit Usage at such time, plus (2) the principal amount of Swing Loans outstanding at such time, and 

  
 - 2 - 

 (b) Amounts borrowed pursuant to this Section 2.1 may be repaid and, subject to the
terms and conditions of this Agreement, reborrowed at any time during the term of this Agreement. The outstanding principal amount of the Revolving Loans, together with interest accrued and unpaid thereon, shall constitute Obligations and shall be
due and payable on the Maturity Date or, if earlier, on the date on which they are declared due and payable pursuant to the terms of this Agreement. 

(c) Anything to the contrary in this Section 2.1 notwithstanding, Agent shall have the right (but not the obligation) to establish
Bank Product Reserves from time to time against the Maximum Revolver Amount. 
 (d) Anything to the contrary in this Section 2.1
notwithstanding, after giving effect to any initial funding on the Closing Date, the total amount of Revolving Loans outstanding shall not exceed $4,000,000. 

2.2 Term Loan. Subject to the terms and conditions of this Agreement, on the Closing Date each Lender with a Term Loan
Commitment agrees (severally, not jointly or jointly and severally) to make term loans (collectively, the “Term Loan”) to Borrowers in an amount equal to such Lender’s Pro Rata Share of the Term Loan Amount. The principal of
the Term Loan shall be repaid on the following dates and in the following amounts: 
  

					
	 Date
	  	Installment Amount	 
	 March 31, 2013
	  	$	281,250	  
	 June 30, 2013
	  	$	281,250	  
	 September 30, 2013
	  	$	281,250	  
	 December 31, 2013
	  	$	281,250	  
	 March 31, 2014
	  	$	281,250	  
	 June 30, 2014
	  	$	281,250	  
	 September 30, 2014
	  	$	281,250	  
	 December 31, 2014
	  	$	281,250	  
	 March 31, 2015
	  	$	281,250	  
	 June 30, 2015
	  	$	281,250	  
	 September 30, 2015
	  	$	281,250	  
	 December 31, 2015
	  	$	281,250	  
	 March 31, 2016
	  	$	281,250	  
	 June 30, 2016
	  	$	281,250	  
	 September 30, 2016
	  	$	281,250	  
	 December 31, 2016
	  	$	281,250	  
	 March 31, 2017
	  	$	281,250	  
	 June 30, 2017
	  	$	281,250	  
	 September 30, 2017
	  	$	281,250	  

  
 - 3 - 

 The outstanding unpaid principal balance and all accrued and unpaid interest on the Term Loan shall be due and
payable on the earlier of (i) the Maturity Date, and (ii) the date of the acceleration of the Term Loan in accordance with the terms hereof. Any principal amount of the Term Loan that is repaid or prepaid may not be reborrowed. All
principal of, interest on, and other amounts payable in respect of the Term Loan shall constitute Obligations hereunder. 
 2.3
Borrowing Procedures and Settlements. 
 (a) Procedure for Borrowing Revolving Loans. Each Borrowing shall be made by a
written request by an Authorized Person delivered to Agent and received by Agent no later than 10:00 a.m. (i) on the Business Day that is the requested Funding Date in the case of a request for a Swing Loan, and (ii) on the Business Day
that is 1 Business Day prior to the requested Funding Date in the case of all other requests, specifying (A) the amount of such Borrowing, and (B) the requested Funding Date (which shall be a Business Day); provided, that Agent may,
in its sole discretion, elect to accept as timely requests that are received later than 10:00 a.m. on the applicable Business Day. At Agent’s election, in lieu of delivering the above-described written request, any Authorized Person may give
Agent telephonic notice of such request by the required time. In such circumstances, Borrowers agree that any such telephonic notice will be confirmed in writing within 24 hours of the giving of such telephonic notice, but the failure to provide
such written confirmation shall not affect the validity of the request. 
 (b) Making of Swing Loans. In the case of a request for a
Revolving Loan and so long as either (i) the aggregate amount of Swing Loans made since the last Settlement Date, minus all payments or other amounts applied to Swing Loans since the last Settlement Date, plus the amount of the requested
Swing Loan does not exceed the greater of (A) $1,000,000 and (B) Wells Fargo’s Revolver Commitment at such time, or (ii) Swing Lender, in its sole discretion, agrees to make a Swing Loan notwithstanding the foregoing limitation,
Swing Lender shall make a Revolving Loan (any such Revolving Loan made by Swing Lender pursuant to this Section 2.3(b) being referred to as a “Swing Loan” and all such Revolving Loans being referred to as “Swing
Loans”) available to Borrowers on the Funding Date applicable thereto by transferring immediately available funds in the amount of such requested Borrowing to the Designated Account. Each Swing Loan shall be deemed to be a Revolving Loan
hereunder and shall be subject to all the terms and conditions (including Section 3) applicable to other Revolving Loans, except that all payments (including interest) on any Swing Loan shall be payable to Swing Lender solely for its own
account. Subject to the provisions of Section 2.3(d)(ii), Swing Lender shall not make and shall not be obligated to make any Swing Loan if Swing Lender has actual knowledge that (i) one or more of the applicable conditions precedent
set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (ii) the requested Borrowing would exceed the Availability on such Funding Date. Swing Lender shall not otherwise be
required to determine whether the applicable conditions precedent set forth in Section 3 have been satisfied on the Funding Date applicable thereto prior to making any Swing Loan. The Swing Loans shall be secured by Agent’s Liens,
constitute Revolving Loans and Obligations, and bear interest at the rate applicable from time to time to Revolving Loans that are Base Rate Loans. 

  
 - 4 - 

 (c) Making of Revolving Loans. 

(i) In the event that Swing Lender is not obligated to make a Swing Loan, then after receipt of a request for a Borrowing pursuant to
Section 2.3(a), Agent shall notify the Lenders by telecopy, telephone, email, or other electronic form of transmission, of the requested Borrowing; such notification to be sent on the Business Day that is 1 Business Day prior to the
requested Funding Date. If Agent has notified the Lenders of a requested Borrowing on the Business Day that is 1 Business Day prior to the Funding Date, then each Lender shall make the amount of such Lender’s Pro Rata Share of the requested
Borrowing available to Agent in immediately available funds, to Agent’s Account, not later than 10:00 a.m. on the Business Day that is the requested Funding Date. After Agent’s receipt of the proceeds of such Revolving Loans from the
Lenders, Agent shall make the proceeds thereof available to Borrowers on the applicable Funding Date by transferring immediately available funds equal to such proceeds received by Agent to the Designated Account; provided, that, subject to
the provisions of Section 2.3(d)(ii), no Lender shall have an obligation to make any Revolving Loan, if (1) one or more of the applicable conditions precedent set forth in Section 3.2 will not be satisfied on the
requested Funding Date for the applicable Borrowing unless such condition has been waived, or (2) the requested Borrowing would exceed the Availability on such Funding Date. 

(ii) Unless Agent receives notice from a Lender prior to 9:30 a.m. on the Business Day that is the requested Funding Date relative to a
requested Borrowing as to which Agent has notified the Lenders of a requested Borrowing that such Lender will not make available as and when required hereunder to Agent for the account of Borrowers the amount of that Lender’s Pro Rata Share of
the Borrowing, Agent may assume that each Lender has made or will make such amount available to Agent in immediately available funds on the Funding Date and Agent may (but shall not be so required), in reliance upon such assumption, make available
to Borrowers a corresponding amount. If, on the requested Funding Date, any Lender shall not have remitted the full amount that it is required to make available to Agent in immediately available funds and if Agent has made available to Borrowers
such amount on the requested Funding Date, then such Lender shall make the amount of such Lender’s Pro Rata Share of the requested Borrowing available to Agent in immediately available funds, to Agent’s Account, no later than 10:00 a.m. on
the Business Day that is the first Business Day after the requested Funding Date (in which case, the interest accrued on such Lender’s portion of such Borrowing for the Funding Date shall be for Agent’s separate account). If any Lender
shall not remit the full amount that it is required to make available to Agent in immediately available funds as and when required hereby and if Agent has made available to Borrowers such amount, then that Lender shall be obligated to immediately
remit such amount to Agent, together with interest at the Defaulting Lender Rate for each day until the date on which such amount is so remitted. A notice submitted by Agent to any Lender with respect to amounts owing under this
Section 2.3(c)(ii) shall be conclusive, absent manifest error. If the amount that a Lender is required to remit is made available to Agent, then such payment to Agent shall constitute such Lender’s Revolving Loan for all purposes of
this Agreement. If such amount is not made available to Agent on the Business Day following the Funding Date, Agent will notify Borrowers of such failure to fund and, upon demand by Agent, Borrowers shall pay within one (1) Business Day such
amount to Agent for Agent’s account, together with interest thereon for each day elapsed since the date of such Borrowing, at a rate per annum equal to the interest rate applicable at the time to the Revolving Loans composing such Borrowing.

 (d) Protective Advances. 

(i) Any contrary provision of this Agreement or any other Loan Document notwithstanding, at any time (A) after the occurrence and during
the continuance of a Default or an Event of Default, or (B) that any of the other applicable conditions precedent set forth in Section 3 are not satisfied, Agent hereby is authorized by Borrowers and the Lenders, from time to time,
in Agent’s sole discretion, to make Revolving Loans to, or for the benefit of, Borrowers, on behalf of the Revolving Lenders, that Agent, in its Permitted Discretion, deems necessary (1) to preserve or protect the Collateral, or any
portion thereof, or (2) to enhance the likelihood of repayment of the Obligations (other than the Bank Product Obligations) (the Revolving Loans described in this Section 2.3(d)(i) shall be referred to as “Protective
Advances”). 
 (ii) Each Protective Advance shall be deemed to be a Revolving Loan hereunder, except that no Protective Advance
shall be eligible to be a LIBOR Rate Loan and, prior to Settlement therefor, all payments on the Protective Advances shall be payable to Agent solely for its own account. The Protective 

  
 - 5 - 

 
Advances shall be repayable on demand, secured by Agent’s Liens, constitute Obligations hereunder, and bear interest at the rate applicable from time to time to Revolving Loans that are Base
Rate Loans. The provisions of this Section 2.3(d) are for the exclusive benefit of Agent, Swing Lender, and the Lenders and are not intended to benefit Borrowers (or any other Loan Party) in any way. 

(e) Settlement. It is agreed that each Lender’s funded portion of the Revolving Loans is intended by the Lenders to equal, at all
times, such Lender’s Pro Rata Share of the outstanding Revolving Loans. Such agreement notwithstanding, Agent, Swing Lender, and the other Lenders agree (which agreement shall not be for the benefit of Borrowers) that in order to facilitate the
administration of this Agreement and the other Loan Documents, settlement among the Lenders as to the Revolving Loans, the Swing Loans, and the Protective Advances shall take place on a periodic basis in accordance with the following provisions:

 (i) Agent shall request settlement (“Settlement”) with the Lenders on a weekly basis, or on a more frequent basis if so
determined by Agent in its sole discretion (1) on behalf of Swing Lender, with respect to the outstanding Swing Loans, (2) for itself, with respect to the outstanding Protective Advances, and (3) with respect to Borrowers’ or any
of their Subsidiaries’ payments or other amounts received, as to each by notifying the Lenders by telecopy, telephone, or other similar form of transmission, of such requested Settlement, no later than 2:00 p.m. on the Business Day immediately
prior to the date of such requested Settlement (the date of such requested Settlement being the “Settlement Date”). Such notice of a Settlement Date shall include a summary statement of the amount of outstanding Revolving Loans,
Swing Loans, and Protective Advances for the period since the prior Settlement Date. Subject to the terms and conditions contained herein (including Section 2.3(g)): (y) if the amount of the Revolving Loans (including Swing Loans,
and Protective Advances) made by a Lender that is not a Defaulting Lender exceeds such Lender’s Pro Rata Share of the Revolving Loans (including Swing Loans, and Protective Advances) as of a Settlement Date, then Agent shall, by no later than
12:00 p.m. on the Settlement Date, transfer in immediately available funds to a Deposit Account of such Lender (as such Lender may designate), an amount such that each such Lender shall, upon receipt of such amount, have as of the Settlement Date,
its Pro Rata Share of the Revolving Loans (including Swing Loans, and Protective Advances), and (z) if the amount of the Revolving Loans (including Swing Loans, and Protective Advances) made by a Lender is less than such Lender’s Pro Rata
Share of the Revolving Loans (including Swing Loans, and Protective Advances) as of a Settlement Date, such Lender shall no later than 12:00 p.m. on the Settlement Date transfer in immediately available funds to Agent’s Account, an amount such
that each such Lender shall, upon transfer of such amount, have as of the Settlement Date, its Pro Rata Share of the Revolving Loans (including Swing Loans and Protective Advances). Such amounts made available to Agent under clause (z) of the
immediately preceding sentence shall be applied against the amounts of the applicable Swing Loans or Protective Advances and, together with the portion of such Swing Loans or Protective Advances representing Swing Lender’s Pro Rata Share
thereof, shall constitute Revolving Loans of such Lenders. If any such amount is not made available to Agent by any Lender on the Settlement Date applicable thereto to the extent required by the terms hereof, Agent shall be entitled to recover for
its account such amount on demand from such Lender together with interest thereon at the Defaulting Lender Rate. 
 (ii) In determining
whether a Lender’s balance of the Revolving Loans, Swing Loans, and Protective Advances is less than, equal to, or greater than such Lender’s Pro Rata Share of the Revolving Loans, Swing Loans, and Protective Advances as of a Settlement
Date, Agent shall, as part of the relevant Settlement, apply to such balance the portion of payments actually received in good funds by Agent with respect to principal, interest, fees payable by Borrowers and allocable to the Lenders hereunder, and
proceeds of Collateral. 
 (iii) Between Settlement Dates, Agent, to the extent Protective Advances or Swing Loans are outstanding, may pay
over to Agent or Swing Lender, as applicable, any payments or other amounts received by Agent, that in accordance with the terms of this Agreement would be applied to the reduction of the Revolving Loans, for application to the Protective Advances
or Swing Loans. Between Settlement Dates, Agent, to the extent no Protective Advances or Swing Loans are outstanding, may pay over to Swing Lender any payments or other amounts received by Agent, that in accordance with the terms of this Agreement
would be applied to the reduction of the Revolving Loans, for application to Swing Lender’s Pro Rata Share of the 

  
 - 6 - 

 
Revolving Loans. If, as of any Settlement Date, payments or other amounts of Borrowers or their Subsidiaries received since the then immediately preceding Settlement Date have been applied to
Swing Lender’s Pro Rata Share of the Revolving Loans other than to Swing Loans, as provided for in the previous sentence, Swing Lender shall pay to Agent for the accounts of the Lenders, and Agent shall pay to the Lenders (other than a
Defaulting Lender if Agent has implemented the provisions of Section 2.3(g)), to be applied to the outstanding Revolving Loans of such Lenders, an amount such that each such Lender shall, upon receipt of such amount, have, as of such
Settlement Date, its Pro Rata Share of the Revolving Loans. During the period between Settlement Dates, Swing Lender with respect to Swing Loans, Agent with respect to Protective Advances, and each Lender with respect to the Revolving Loans other
than Swing Loans and Protective Advances, shall be entitled to interest at the applicable rate or rates payable under this Agreement on the daily amount of funds employed by Swing Lender, Agent, or the Lenders, as applicable. 

(iv) Anything in this Section 2.3(e) to the contrary notwithstanding, in the event that a Lender is a Defaulting Lender, Agent
shall be entitled to refrain from remitting settlement amounts to the Defaulting Lender and, instead, shall be entitled to elect to implement the provisions set forth in Section 2.3(g). 

(f) Notation. Agent, as a non-fiduciary agent for Borrowers, shall maintain a register showing the principal amount of the Revolving
Loans (and portion of the Term Loan, as applicable), owing to each Lender, including the Swing Loans owing to Swing Lender, and Protective Advances owing to Agent, and the interests therein of each Lender, from time to time and such register shall,
absent manifest error, conclusively be presumed to be correct and accurate. 
 (g) Defaulting Lenders. 

(i) Notwithstanding the provisions of Section 2.4(b)(ii), Agent shall not be obligated to transfer to a Defaulting Lender any
payments made by Borrowers to Agent for the Defaulting Lender’s benefit or any proceeds of Collateral that would otherwise be remitted hereunder to the Defaulting Lender, and, in the absence of such transfer to the Defaulting Lender, Agent
shall transfer any such payments (A) first, to Swing Lender to the extent of any Swing Loans that were made by Swing Lender and that were required to be, but were not, paid by the Defaulting Lender, (B) second, to Issuing Bank, to the
extent of the portion of a Letter of Credit Disbursement that was required to be, but was not, paid by the Defaulting Lender, (C) third, to each Non-Defaulting Lender ratably in accordance with their Commitments (but, in each case, only to the
extent that such Defaulting Lender’s portion of a Revolving Loan (or other funding obligation) was funded by such other Non-Defaulting Lender), (D) to a suspense account maintained by Agent, the proceeds of which shall be retained by Agent
and may be made available to be re-advanced to or for the benefit of Borrowers (upon the request of Borrowers and subject to the conditions set forth in Section 3.2) as if such Defaulting Lender had made its portion of Revolving Loans
(or other funding obligations) hereunder, and (E) from and after the date on which all other Obligations have been paid in full, to such Defaulting Lender in accordance with tier (L) of Section 2.4(b)(ii). Subject to the
foregoing, Agent may hold and, in its discretion, re-lend to Borrowers for the account of such Defaulting Lender the amount of all such payments received and retained by Agent for the account of such Defaulting Lender. Solely for the purposes of
voting or consenting to matters with respect to the Loan Documents (including the calculation of Pro Rata Share in connection therewith) and for the purpose of calculating the fee payable under Section 2.10(b), such Defaulting Lender
shall be deemed not to be a “Lender” and such Lender’s Commitment shall be deemed to be zero; provided, that the foregoing shall not apply to any of the matters governed by Section 14.1(a)(i) through (iii).
The provisions of this Section 2.3(g) shall remain effective with respect to such Defaulting Lender until the earlier of (y) the date on which all of the Non-Defaulting Lenders, Agent, Issuing Bank, and Borrowers shall have waived,
in writing, the application of this Section 2.3(g) to such Defaulting Lender, or (z) the date on which such Defaulting Lender makes payment of all amounts that it was obligated to fund hereunder, pays to Agent all amounts owing by
Defaulting Lender in respect of the amounts that it was obligated to fund hereunder, and, if requested by Agent, provides adequate assurance of its ability to perform its future obligations hereunder (on which earlier date, so long as no Event of
Default has occurred and is continuing, any remaining cash collateral held by Agent pursuant to Section 2.3(g)(ii) shall be released to Borrowers). The operation of this Section 2.3(g) shall not be

  
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construed to increase or otherwise affect the Commitment of any Lender, to relieve or excuse the performance by such Defaulting Lender or any other Lender of its duties and obligations hereunder,
or to relieve or excuse the performance by any Borrower of its duties and obligations hereunder to Agent, Issuing Bank, or to the Lenders other than such Defaulting Lender. Any failure by a Defaulting Lender to fund amounts that it was obligated to
fund hereunder shall constitute a material breach by such Defaulting Lender of this Agreement and shall entitle Borrowers, at their option, upon written notice to Agent, to arrange for a substitute Lender to assume the Commitment of such Defaulting
Lender, such substitute Lender to be reasonably acceptable to Agent. In connection with the arrangement of such a substitute Lender, the Defaulting Lender shall have no right to refuse to be replaced hereunder, and agrees to execute and deliver a
completed form of Assignment and Acceptance in favor of the substitute Lender (and agrees that it shall be deemed to have executed and delivered such document if it fails to do so) subject only to being paid its share of the outstanding Obligations
(other than Bank Product Obligations, but including (1) all interest, fees, and other amounts that may be due and payable in respect thereof, and (2) an assumption of its Pro Rata Share of its participation in the Letters of Credit);
provided, that any such assumption of the Commitment of such Defaulting Lender shall not be deemed to constitute a waiver of any of the Lender Groups’ or Borrowers’ rights or remedies against any such Defaulting Lender arising out
of or in relation to such failure to fund. In the event of a direct conflict between the priority provisions of this Section 2.3(g) and any other provision contained in this Agreement or any other Loan Document, it is the intention of
the parties hereto that such provisions be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, the terms and
provisions of this Section 2.3(g) shall control and govern. 
 (ii) If any Swing Loan or Letter of Credit is outstanding at the
time that a Lender becomes a Defaulting Lender then: 
 (A) such Defaulting Lender’s Swing Loan Exposure and Letter of Credit Exposure
shall be reallocated among the Non-Defaulting Lenders in accordance with their respective Pro Rata Shares but only to the extent (x) the sum of all Non-Defaulting Lenders’ Revolving Loan Exposures plus such Defaulting Lender’s Swing
Loan Exposure and Letter of Credit Exposure does not exceed the total of all Non-Defaulting Lenders’ Revolver Commitments and (y) the conditions set forth in Section 3.2 are satisfied at such time; 

(B) if the reallocation described in clause (A) above cannot, or can only partially, be effected, Borrowers shall within one Business
Day following notice by the Agent (x) first, prepay such Defaulting Lender’s Swing Loan Exposure (after giving effect to any partial reallocation pursuant to clause (A) above) and (y) second, cash collateralize such Defaulting
Lender’s Letter of Credit Exposure (after giving effect to any partial reallocation pursuant to clause (A) above), pursuant to a cash collateral agreement to be entered into in form and substance reasonably satisfactory to the Agent, for
so long as such Letter of Credit Exposure is outstanding; provided, that Borrowers shall not be obligated to cash collateralize any Defaulting Lender’s Letter of Credit Exposure if such Defaulting Lender is also the Issuing Bank; 

(C) if Borrowers cash collateralize any portion of such Defaulting Lender’s Letter of Credit Exposure pursuant to this
Section 2.3(g)(ii), Borrowers shall not be required to pay any Letter of Credit Fees to Agent for the account of such Defaulting Lender pursuant to Section 2.6(b) with respect to such cash collateralized portion of such
Defaulting Lender’s Letter of Credit Exposure during the period such Letter of Credit Exposure is cash collateralized; 
 (D) to the
extent the Letter of Credit Exposure of the Non-Defaulting Lenders is reallocated pursuant to this Section 2.3(g)(ii), then the Letter of Credit Fees payable to the Non-Defaulting Lenders pursuant to Section 2.6(b) shall be
adjusted in accordance with such Non-Defaulting Lenders’ Letter of Credit Exposure; 
 (E) to the extent any Defaulting Lender’s
Letter of Credit Exposure is neither cash collateralized nor reallocated pursuant to this Section 2.3(g)(ii), then, without prejudice to any rights or remedies of the Issuing Bank or any Lender hereunder, all Letter of Credit Fees that
would have 

  
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otherwise been payable to such Defaulting Lender under Section 2.6(b) with respect to such portion of such Letter of Credit Exposure shall instead be payable to the Issuing Bank until
such portion of such Defaulting Lender’s Letter of Credit Exposure is cash collateralized or reallocated; 
 (F) so long as any Lender
is a Defaulting Lender, the Swing Lender shall not be required to make any Swing Loan and the Issuing Bank shall not be required to issue, amend, or increase any Letter of Credit, in each case, to the extent (x) the Defaulting Lender’s Pro
Rata Share of such Swing Loans or Letter of Credit cannot be reallocated pursuant to this Section 2.3(g)(ii) or (y) the Swing Lender or Issuing Bank, as applicable, has not otherwise entered into arrangements reasonably satisfactory
to the Swing Lender or Issuing Bank, as applicable, and Borrowers to eliminate the Swing Lender’s or Issuing Bank’s risk with respect to the Defaulting Lender’s participation in Swing Loans or Letters of Credit; and 

(G) Agent may release any cash collateral provided by Borrowers pursuant to this Section 2.3(g)(ii) to the Issuing Bank and the
Issuing Bank may apply any such cash collateral to the payment of such Defaulting Lender’s Pro Rata Share of any Letter of Credit Disbursement that is not reimbursed by Borrowers pursuant to Section 2.11(d). 

(h) Independent Obligations. All Revolving Loans (other than Swing Loans and Protective Advances) shall be made by the Lenders
contemporaneously and in accordance with their Pro Rata Shares. It is understood that (i) no Lender shall be responsible for any failure by any other Lender to perform its obligation to make any Revolving Loan (or other extension of credit)
hereunder, nor shall any Commitment of any Lender be increased or decreased as a result of any failure by any other Lender to perform its obligations hereunder, and (ii) no failure by any Lender to perform its obligations hereunder shall excuse
any other Lender from its obligations hereunder. 
 2.4 Payments; Reductions of Commitments; Prepayments. 

(a) Payments by Borrowers. 

(i) Except as otherwise expressly provided herein, all payments by Borrowers shall be made to Agent’s Account for the account of the
Lender Group and shall be made in immediately available funds, no later than 1:30 p.m. on the date specified herein. Any payment received by Agent later than 1:30 p.m. shall be deemed to have been received (unless Agent, in its sole discretion,
elects to credit it on the date received) on the following Business Day and any applicable interest or fee shall continue to accrue until such following Business Day. 

(ii) Unless Agent receives notice from Borrowers prior to the date on which any payment is due to the Lenders that Borrowers will not make
such payment in full as and when required, Agent may assume that Borrowers have made (or will make) such payment in full to Agent on such date in immediately available funds and Agent may (but shall not be so required), in reliance upon such
assumption, distribute to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent Borrowers do not make such payment in full to Agent on the date when due, each Lender severally shall repay to Agent on
demand such amount distributed to such Lender, together with interest thereon at the Defaulting Lender Rate for each day from the date such amount is distributed to such Lender until the date repaid. 

(b) Apportionment and Application. 

(i) So long as no Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting
Lenders, all principal and interest payments received by Agent shall be apportioned ratably among the Lenders (according to the unpaid principal balance of the Obligations to which such payments relate held by each Lender) and all payments of fees
and expenses received by Agent (other than fees or expenses that are for Agent’s separate account or for the separate account of Issuing Bank) shall be apportioned ratably among the Lenders having a Pro Rata Share of the type of Commitment or

  
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Obligation to which a particular fee or expense relates. Subject to Section 2.4(b)(iv), Section 2.4(d)(ii), and Section 2.4(e), all payments to be made
hereunder by Borrowers shall be remitted to Agent and all such payments, and all proceeds of Collateral received by Agent, shall be applied, so long as no Application Event has occurred and is continuing and except as otherwise provided herein with
respect to Defaulting Lenders, to reduce the balance of the Revolving Loans outstanding and, thereafter, to Borrowers (to be wired to the Designated Account) or such other Person entitled thereto under applicable law. 

(ii) At any time that an Application Event has occurred and is continuing and except as otherwise provided herein with respect to Defaulting
Lenders, all payments remitted to Agent and all proceeds of Collateral received by Agent shall be applied as follows: 
 (A) first,
to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to Agent under the Loan Documents, until paid in full, 

(B) second, to pay any fees or premiums then due to Agent under the Loan Documents until paid in full, 

(C) third, to pay interest due in respect of all Protective Advances until paid in full, 

(D) fourth, to pay the principal of all Protective Advances until paid in full, 

(E) fifth, ratably, to pay any Lender Group Expenses (including cost or expense reimbursements) or indemnities then due to any of the
Lenders under the Loan Documents, until paid in full, 
 (F) sixth, ratably, to pay any fees or premiums then due to any of the
Lenders under the Loan Documents until paid in full, 
 (G) seventh, to pay interest accrued in respect of the Swing Loans until
paid in full, 
 (H) eighth, to pay the principal of all Swing Loans until paid in full, 

(I) ninth, ratably, to pay interest accrued in respect of the Revolving Loans (other than Protective Advances) and the Term Loan until
paid in full, 
 (J) tenth, ratably (i) to pay the principal of all Revolving Loans until paid in full, (ii) to Agent, to
be held by Agent, for the benefit of Issuing Bank (and for the ratable benefit of each of the Lenders that have an obligation to pay to Agent, for the account of Issuing Bank, a share of each Letter of Credit Disbursement), as cash collateral in an
amount up to 105% of the Letter of Credit Usage (to the extent permitted by applicable law, such cash collateral shall be applied to the reimbursement of any Letter of Credit Disbursement as and when such disbursement occurs and, if a Letter of
Credit expires undrawn, the cash collateral held by Agent in respect of such Letter of Credit shall, to the extent permitted by applicable law, be reapplied pursuant to this Section 2.4(b)(ii), beginning with tier (A) hereof),
(iii) ratably, to the Bank Product Providers based upon amounts then certified by the applicable Bank Product Provider to Agent (in form and substance satisfactory to Agent) to be due and payable to such Bank Product Providers on account of
Bank Product Obligations, and (iv) to pay the outstanding principal balance of the Term Loan (in the inverse order of the maturity of the installments due thereunder) until the Term Loan is paid in full, 

(K) eleventh, to pay any other Obligations other than Obligations owed to Defaulting Lenders, 

(L) twelfth, ratably to pay any Obligations owed to Defaulting Lenders; and 

(M) thirteenth, to Borrowers (to be wired to the Designated Account) or such other Person entitled thereto under applicable law. 

  
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 (iii) Agent promptly shall distribute to each Lender, pursuant to the applicable wire
instructions received from each Lender in writing, such funds as it may be entitled to receive, subject to a Settlement delay as provided in Section 2.3(e). 

(iv) In each instance, so long as no Application Event has occurred and is continuing, Section 2.4(b)(i) shall not apply to any
payment made by Borrowers to Agent and specified by Borrowers to be for the payment of specific Obligations then due and payable (or prepayable) under any provision of this Agreement or any other Loan Document. 

(v) For purposes of Section 2.4(b)(ii), “paid in full” of a type of Obligation means payment in cash or immediately
available funds of all amounts owing on account of such type of Obligation, including interest accrued after the commencement of any Insolvency Proceeding, default interest, interest on interest, and expense reimbursements, irrespective of whether
any of the foregoing would be or is allowed or disallowed in whole or in part in any Insolvency Proceeding. 
 (vi) In the event of a
direct conflict between the priority provisions of this Section 2.4 and any other provision contained in this Agreement or any other Loan Document, it is the intention of the parties hereto that such provisions be read together and
construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as aforesaid, if the conflict relates to the provisions of Section 2.3(g) and this
Section 2.4, then the provisions of Section 2.3(g) shall control and govern, and if otherwise, then the terms and provisions of this Section 2.4 shall control and govern. 

(c) Termination of Commitments. 

(i) Revolver Commitments. The Revolver Commitments shall terminate on the Maturity Date. 

(ii) Term Loan Commitments. The Term Loan Commitments shall terminate upon the making of the Term Loan. 

(d) Optional Prepayments. 

(i) Revolving Loans. Borrowers may prepay the principal of any Revolving Loan at any time in whole or in part. 

(ii) Term Loan. Borrowers may, upon at least three Business Days prior written notice to Agent, prepay the principal of the Term Loan,
in whole or in part. Each prepayment made pursuant to this Section 2.4(d)(ii) shall be accompanied by the payment of accrued interest to the date of such payment on the amount prepaid. Each such prepayment shall be applied against the
remaining installments of principal due on the Term Loan on a pro rata basis (for the avoidance of doubt, any amount that is due and payable on the Maturity Date shall constitute an installment). 

(e) Mandatory Prepayments. 

(i) Dispositions. Promptly, and in no event later than three Business Days of the date of receipt by any Borrower or any of its
Subsidiaries of the Net Cash Proceeds of any voluntary or involuntary sale or disposition by such Borrower or any of its Subsidiaries of assets (including casualty losses or condemnations but excluding sales or dispositions which qualify as
Permitted Dispositions under clauses (a), (b), (c), (d), (e), (f), (i), (j), (k), (l), (m), (n) or (p) of the definition of Permitted Dispositions), Borrowers shall prepay the outstanding principal amount of the Obligations in accordance
with Section 2.4(f)(ii) in an amount 

  
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equal to 100% of such Net Cash Proceeds (including condemnation awards and payments in lieu thereof) received by such Person in connection with such sales or dispositions; provided that,
so long as (A) no Default or Event of Default shall have occurred and is continuing or would result therefrom, (B) such Borrower shall have given Agent written notice of such Borrower’s intention to apply such monies to the costs of
replacement of the properties or assets that are the subject of such sale or disposition or the cost of purchase or construction of other assets useful in the business of such Borrower or its Subsidiaries, (C) the monies are held in a Deposit
Account in which Agent has a perfected first-priority security interest, and (D) such Borrower or its Subsidiaries, as applicable, complete such replacement, purchase, or construction within 180 days (or 365 days in the case of any involuntary
disposition resulting from a casualty loss or condemnation) after the initial receipt of such monies, then the Loan Party whose assets were the subject of such disposition shall have the option to apply such monies to the costs of replacement of the
assets that are the subject of such sale or disposition or the costs of purchase or construction of other assets useful in the business of such Loan Party unless and to the extent that such applicable period shall have expired without such
replacement, purchase, or construction being made or completed, in which case, any amounts remaining in the Deposit Account referred to in clause (C) above shall be paid to Agent and applied in accordance with Section 2.4(f)(ii);
provided, that no Borrower nor any of its Subsidiaries shall have the right to use such Net Cash Proceeds to make such replacements, purchases, or construction in excess of $500,000 in any given fiscal year. Nothing contained in this
Section 2.4(e)(i) shall permit any Borrower or any of its Subsidiaries to sell or otherwise dispose of any assets other than in accordance with Section 6.4. 

(ii) Extraordinary Receipts. Promptly, and in no event later than three Business Days of the date of receipt by any Borrower or any of
its Subsidiaries of any Extraordinary Receipts, Borrowers shall prepay the outstanding principal amount of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to 100% of such Extraordinary Receipts, net of any
reasonable expenses incurred in collecting such Extraordinary Receipts. 
 (iii) Indebtedness. Promptly, and in no event later than
three Business Days of the date of incurrence by any Borrower or any of its Subsidiaries of any Indebtedness (other than Permitted Indebtedness), Borrowers shall prepay the outstanding principal amount of the Obligations in accordance with
Section 2.4(f)(ii) in an amount equal to 100% of the Net Cash Proceeds received by such Person in connection with such incurrence. The provisions of this Section 2.4(e)(iii) shall not be deemed to be implied consent to any
such incurrence otherwise prohibited by the terms of this Agreement. 
 (iv) Equity. Promptly, and in no event later than three
Business Days of the date of the issuance by any Borrower or any of its Subsidiaries of any Equity Interests (other than (A) in the event that any Borrower or any of its Subsidiaries forms any Subsidiary in accordance with the terms hereof, the
issuance by such Subsidiary of Equity Interests to such Borrower or such Subsidiary, as applicable, (B) the issuance of Equity Interests by Administrative Borrower to any Person that is an equity holder of Administrative Borrower prior to such
issuance (a “Subject Holder”) so long as such Subject Holder did not acquire any Equity Interests of Administrative Borrower so as to become a Subject Holder concurrently with, or in contemplation of, the issuance of such Equity
Interest to such Subject Holder, (C) the issuance of Equity Interests of Administrative Borrower to directors, officers and employees of Administrative Borrower and its Subsidiaries pursuant to employee stock option plans (or other employee
incentive plans or other compensation arrangements) approved by the Board of Directors, (D) the issuance of Equity Interests of Administrative Borrower in order to finance the purchase consideration (or a portion thereof) in connection with a
Permitted Acquisition, (E) the issuance of Equity Interests of Administrative Borrower in connection with the raising of Curative Equity, (F) the issuance of Equity interests of Administrative Borrower solely to repay all or a portion of
the Harbert Capital Facility, and (G) the issuance of Equity Interests by a Subsidiary of a Borrower to its parent or member in connection with the contribution by such parent or member to such Subsidiary of the proceeds of an issuance
described in clauses (A) – (F) above), Borrowers shall prepay the outstanding principal amount of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to 100% of the Net Cash Proceeds received by such
Person in connection with such issuance. The provisions of this Section 2.4(e)(iv) shall not be deemed to be implied consent to any such issuance otherwise prohibited by the terms of this Agreement. 

  
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 (v) Excess Cash Flow. Within 10 days of delivery to Agent of audited annual financial
statements pursuant to Section 5.1, commencing with the delivery to Agent of the financial statements for Borrowers’ fiscal year ended December 31, 2013 or, if such financial statements are not delivered to Agent on the date
such statements are required to be delivered pursuant to Section 5.1, within 10 days after the date such statements were required to be delivered to Agent pursuant to Section 5.1, Borrowers shall prepay the outstanding
principal amount of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to (i) 50% of the Excess Cash Flow of Borrowers and their Subsidiaries for such fiscal year minus (ii) any voluntary
prepayments of the Term Loan made during such fiscal year; provided, that any Excess Cash Flow payment made pursuant to this Section 2.4(e)(v) shall exclude the portion of Excess Cash Flow that is attributable to the target of a
Permitted Acquisition and that accrued prior to the closing date of such Permitted Acquisition; provided, further that in the case of the fiscal year ended December 31, 2013, Borrowers shall only be obligated to prepay the
outstanding principal amount of the Obligations in an amount equal to the applicable percentage of the Excess Cash Flow of the Parent and its Subsidiaries for the period commencing with February 1, 2013 and ending on December 31, 2013.

 (vi) Curative Equity. Promptly, and in no event later than three Business Days of the date of receipt by any Borrower of the
proceeds of any Curative Equity pursuant to Section 9.3, Borrowers shall prepay the outstanding principal of the Obligations in accordance with Section 2.4(f)(ii) in an amount equal to 100% of such proceeds, net of any
reasonable out-of-pocket expenses incurred in connection with the issuance of such Curative Equity. 
 (f) Application of Payments.
Each prepayment pursuant to Section 2.4(e) shall (A) so long as no Application Event shall have occurred and be continuing, be applied, first, to the outstanding principal amount of the Term Loan until paid in full,
second, to the outstanding principal amount of the Revolving Loans (without a corresponding permanent reduction in the Maximum Revolver Amount), until paid in full, and third, to cash collateralize the Letters of Credit in an amount
equal to 105% of the then outstanding Letter of Credit Usage (without a corresponding permanent reduction in the Maximum Revolver Amount), and (B) if an Application Event shall have occurred and be continuing, be applied in the manner set forth
in Section 2.4(b)(ii). Each such prepayment of the Term Loan shall be applied against the remaining installments of principal of the Term Loan on a pro rata basis (for the avoidance of doubt, any amount that is due and payable on the
Maturity Date shall constitute an installment). 
 2.5 Promise to Pay; Promissory Notes. 

(a) Borrowers agree to pay the Lender Group Expenses on the earlier of (i) the first day of the month following the date on which the
applicable Lender Group Expenses were first incurred or (ii) the date on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant to
the provisions of Section 2.6(d) shall be deemed to constitute a demand for payment thereof for the purposes of this subclause (ii)). Borrowers promise to pay all of the Obligations (including principal, interest, premiums, if any, fees,
costs, and expenses (including Lender Group Expenses)) in full on the Maturity Date or, if earlier, on the date on which the Obligations (other than the Bank Product Obligations) become due and payable pursuant to the terms of this Agreement.
Borrowers agree that their obligations contained in the first sentence of this Section 2.5(a) shall survive payment or satisfaction in full of all other Obligations. 

(b) Any Lender may request that any portion of its Commitments or the Loans made by such Lender be evidenced by one or more promissory notes.
In such event, Borrowers shall execute and deliver to such Lender the requested promissory notes payable to the order of such Lender in a form furnished by Agent and reasonably satisfactory to Borrowers. Thereafter, the portion of the Commitments
and Loans evidenced by such promissory notes and interest thereon shall at all times be represented by one or more promissory notes in such form payable to the order of the payee named therein. 

  
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 2.6 Interest Rates and Letter of Credit Fee: Rates, Payments, and Calculations.

 (a) Interest Rates. Except as provided in Section 2.6(c), all Obligations (except for undrawn Letters of Credit) that
have been charged to the Loan Account pursuant to the terms hereof shall bear interest as follows: 
 (i) if the relevant Obligation is a
LIBOR Rate Loan, at a per annum rate equal to the LIBOR Rate plus the LIBOR Rate Margin, and 
 (ii) otherwise, at a per
annum rate equal to the Base Rate plus the Base Rate Margin. 
 (b) Letter of Credit Fee. Borrowers shall pay Agent (for the
ratable benefit of the Revolving Lenders), a Letter of Credit fee (the “Letter of Credit Fee”) (which fee shall be in addition to the fronting fees and commissions, other fees, charges and expenses set forth in
Section 2.11(k)) that shall accrue at a per annum rate equal to the LIBOR Rate Margin times the undrawn amount of all outstanding Letters of Credit. 

(c) Default Rate. Upon the occurrence and during the continuation of an Event of Default and at the election of Agent or the Required
Lenders, 
 (i) the interest rate applicable to all Obligations that have been charged to the Loan Account pursuant to the terms hereof
shall bear interest at a per annum rate equal to 2 percentage points above the per annum rate otherwise applicable thereunder, and 

(ii) the Letter of Credit Fee shall be increased to 2 percentage points above the per annum rate otherwise applicable hereunder. 

(d) Payment. Except to the extent provided to the contrary in Section 2.10, Section 2.11(k) or Section 2.12(a),
(i) all interest, all Letter of Credit Fees and all other fees payable hereunder or under any of the other Loan Documents shall be due and payable, in arrears, on the first day of each month and (ii) all costs and expenses payable
hereunder or under any of the other Loan Documents, and all Lender Group Expenses shall be due and payable on the earlier of (x) the first day of the month following the date on which the applicable costs, expenses, or Lender Group Expenses
were first incurred or (y) the date on which demand therefor is made by Agent (it being acknowledged and agreed that any charging of such costs, expenses or Lender Group Expenses to the Loan Account pursuant to the provisions of the following
sentence shall be deemed to constitute a demand for payment thereof for the purposes of this subclause (y)). Borrowers hereby authorize Agent, from time to time without prior notice to Borrowers, to charge to the Loan Account (A) on the first
day of each month, all interest accrued during the prior month on the Revolving Loans or the Term Loan hereunder, (B) on the first day of each month, all Letter of Credit Fees accrued or chargeable hereunder during the prior month, (C) as
and when incurred or accrued, all fees and costs provided for in Section 2.10 (a), (D) on the first day of each month, the Unused Line Fee accrued during the prior month pursuant to Section 2.10(b), (E) as and when incurred or
accrued, all non-out-of-pocket audit, appraisal, valuation, or other charges or fees payable hereunder pursuant to Section 2.10(c), (F) if Borrowers do not pay any such Lender Group Expenses within three Business Days of the date of
Borrowers’ receipt of written notice thereof, all out-of-pocket audit, appraisal, valuation, or other charges or fees payable hereunder pursuant to Section 2.10(c), (G) as and when due and payable, all other fees payable hereunder or
under any of the other Loan Documents, (H) as and when incurred or accrued, the fronting fees and all other commissions, fees, and charges provided for in Section 2.11(k), (I) if Borrowers do not pay any other Lender Group Expenses
within three Business Days of the date of Borrowers’ receipt of written notice thereof, all other Lender Group Expenses, and (J) as and when due and payable all other payment obligations payable under any Loan Document or any Bank Product
Agreement (including any amounts due and payable to the Bank Product Providers in respect of Bank Products); provided, that if such amounts are not paid and, instead, are charged to the Loan Account, they shall be charged thereto as of the
day on which the item was first due and payable or incurred or accrued without regard to the applicable delay and such amounts shall accrue interest from such original date; provided further, that the applicable delays set forth in the foregoing
clauses (F) and (I) shall not be applicable (and Agent shall be entitled to immediately 

  
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charge to the Loan Account) at any time that an Event of Default has occurred and is continuing. All amounts (including interest, fees, costs, expenses, Lender Group Expenses, or other amounts
payable hereunder or under any other Loan Document or under any Bank Product Agreement) charged to the Loan Account shall constitute Revolving Loans hereunder, shall constitute Obligations hereunder, and shall initially accrue interest at the rate
then applicable to Revolving Loans that are Base Rate Loans (unless and until converted into LIBOR Rate Loans in accordance with the terms of this Agreement). 

(e) Computation. All interest and fees chargeable under the Loan Documents shall be computed on the basis of a 360 day year, in each
case, for the actual number of days elapsed in the period during which the interest or fees accrue. In the event the Base Rate is changed from time to time hereafter, the rates of interest hereunder based upon the Base Rate automatically and
immediately shall be increased or decreased by an amount equal to such change in the Base Rate. 
 (f) Intent to Limit Charges to Maximum
Lawful Rate. In no event shall the interest rate or rates payable under this Agreement, plus any other amounts paid in connection herewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a
final determination, deem applicable. Borrowers and the Lender Group, in executing and delivering this Agreement, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, that, anything
contained herein to the contrary notwithstanding, if such rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Agreement, Borrowers are and shall be liable
only for the payment of such maximum amount as is allowed by law, and payment received from Borrowers in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of the Obligations to the extent of such
excess. 
 2.7 Crediting Payments. The receipt of any payment item by Agent shall not be required to be considered a payment
on account unless such payment item is a wire transfer of immediately available federal funds made to Agent’s Account or unless and until such payment item is honored when presented for payment. Should any payment item not be honored when
presented for payment, then Borrowers shall be deemed not to have made such payment and interest shall be calculated accordingly. Anything to the contrary contained herein notwithstanding, any payment item shall be deemed received by Agent only if
it is received into Agent’s Account on a Business Day on or before 1:30 p.m. If any payment item is received into Agent’s Account on a non-Business Day or after 1:30 p.m. on a Business Day (unless Agent, in its sole discretion, elects to
credit it on the date received), it shall be deemed to have been received by Agent as of the opening of business on the immediately following Business Day. 

2.8 Designated Account. Agent is authorized to make the Revolving Loans and the Term Loan, and Issuing Bank is authorized to
issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Borrowers agree to
establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans requested by Borrowers and made by Agent or the Lenders hereunder. Unless otherwise agreed by Agent and
Borrowers, any Revolving Loan or Swing Loan requested by Borrowers and made by Agent or the Lenders hereunder shall be made to the Designated Account. 

2.9 Maintenance of Loan Account; Statements of Obligations. Agent shall maintain an account on its books in the name of
Borrowers (the “Loan Account”) on which Borrowers will be charged with the Term Loan, all Revolving Loans (including Protective Advances and Swing Loans) made by Agent, Swing Lender, or the Lenders to Borrowers or for
Borrowers’ account, the Letters of Credit issued or arranged by Issuing Bank for Borrowers’ account, and, subject to the delays set forth in clauses (v) and (vii) of Section 2.6(d) (if applicable), with all other payment
Obligations hereunder or under the other Loan Documents including, accrued interest, fees and expenses, and Lender Group Expenses. In accordance with Section 2.7, the Loan Account will be credited with all payments received by Agent from
Borrowers or for Borrowers’ account. Agent shall make available to Borrowers monthly statements regarding the Loan Account, including the principal amount of the Term Loan and the Revolving Loans, interest accrued hereunder, fees accrued or

  
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charged hereunder or under the other Loan Documents, and a summary itemization of all charges and expenses constituting Lender Group Expenses accrued hereunder or under the other Loan Documents,
and each such statement, absent manifest error, shall be conclusively presumed to be correct and accurate and constitute an account stated between Borrowers and the Lender Group unless, within 30 days after Agent first makes such a statement
available to Borrowers, Borrowers shall deliver to Agent written objection thereto describing the error or errors contained in such statement. 

2.10 Fees.  
 (a)
Agent Fees. Borrowers shall pay to Agent, for the account of Agent, as and when due and payable under the terms of the Fee Letter, the fees set forth in the Fee Letter. 

(b) Unused Line Fee. Borrowers shall pay to Agent, for the ratable account of the Revolving Lenders, an unused line fee (the
“Unused Line Fee”) in an amount equal to 0.50% per annum times the result of (i) the aggregate amount of the Revolver Commitments, less (ii) the average amount of the Revolver Usage during the immediately
preceding month (or portion thereof), which Unused Line Fee shall be due and payable on the first day of each month, from and after the Closing Date up to the first day of the month, prior to the date on which the Obligations are paid in full and on
the date on which the Obligations are paid in full. 
 (c) Financial Examination and Other Fees. Borrowers shall pay to Agent,
financial examination, appraisal, and valuation fees and charges, as and when incurred or chargeable, as follows (i) a fee of $1,000 per day, per examiner, plus reasonable, documented out-of-pocket expenses (including travel, meals, and
lodging) for each financial examination of any Borrower performed by personnel employed by Agent, and (ii) the reasonable, documented fees or charges paid or incurred by Agent (but, in any event, no less than a charge of $1,000 per day, per
Person, plus reasonable, documented out-of-pocket expenses (including travel, meals, and lodging)) if it elects to employ the services of one or more third Persons to perform financial examinations of any Borrower or its Subsidiaries, to appraise
the Collateral, or any portion thereof, or to assess any Borrower’s or its Subsidiaries’ business and/or recurring revenue valuation or other similar evaluations; provided, that so long as no Event of Default shall have occurred and
be continuing, Borrowers shall not be obligated to reimburse Agent for more than (A) 2 financial examinations of Borrowers’ records, including, without limitation, reconciliation between Borrowers’ financial statements and GAAP,
during any calendar year and (B) 1 business/recurring revenue or other similar valuations during any calendar year. 
 2.11
Letters of Credit. 
 (a) Subject to the terms and conditions of this Agreement, upon the request of Borrowers made in
accordance herewith, and prior to the Maturity Date, Issuing Bank agrees to issue a requested Letter of Credit for the account of Borrowers. By submitting a request to Issuing Bank for the issuance of a Letter of Credit, Borrowers shall be deemed to
have requested that Issuing Bank issue the requested Letter of Credit. Each request for the issuance of a Letter of Credit, or the amendment, renewal, or extension of any outstanding Letter of Credit, shall be irrevocable and shall be made in
writing by an Authorized Person and delivered to Issuing Bank via telefacsimile or other electronic method of transmission reasonably acceptable to Issuing Bank and reasonably in advance of the requested date of issuance, amendment, renewal, or
extension. Each such request shall be in form and substance reasonably satisfactory to Issuing Bank and (i) shall specify (A) the amount of such Letter of Credit, (B) the date of issuance, amendment, renewal, or extension of such
Letter of Credit, (C) the proposed expiration date of such Letter of Credit, (D) the name and address of the beneficiary of the Letter of Credit, and (E) such other information (including, the conditions to drawing, and, in the case
of an amendment, renewal, or extension, identification of the Letter of Credit to be so amended, renewed, or extended) as shall be necessary to prepare, amend, renew, or extend such Letter of Credit, and (ii) shall be accompanied by such Issuer
Documents as Agent or Issuing Bank may request or require, to the extent that such requests or requirements are consistent with the Issuer Documents that Issuing Bank generally requests for Letters of Credit in similar circumstances. Bank’s
records of the content of any such request will be conclusive. Anything contained herein to the contrary notwithstanding, Issuing Bank may, but shall not be obligated to, issue a Letter of Credit that supports the obligations of Borrowers or one of
their Subsidiaries in respect of (x) a lease of real property, or (y) an employment contract. 

  
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 (b) Issuing Bank shall have no obligation to issue a Letter of Credit if any of the following
would result after giving effect to the requested issuance: 
 (i) the Letter of Credit Usage would exceed $1,250,000, or 

(ii) the Letter of Credit Usage would exceed the Maximum Revolver Amount less the outstanding amount of Revolving Loans (including
Swing Loans). 
 (c) In the event there is a Defaulting Lender as of the date of any request for the issuance of a Letter of Credit, the
Issuing Bank shall not be required to issue or arrange for such Letter of Credit to the extent (i) the Defaulting Lender’s Letter of Credit Exposure with respect to such Letter of Credit may not be reallocated pursuant to
Section 2.3(g)(ii), or (ii) the Issuing Bank has not otherwise entered into arrangements reasonably satisfactory to it and Borrowers to eliminate the Issuing Bank’s risk with respect to the participation in such Letter of
Credit of the Defaulting Lender, which arrangements may include Borrowers cash collateralizing such Defaulting Lender’s Letter of Credit Exposure in accordance with Section 2.3(g)(ii). Additionally, Issuing Bank shall have no
obligation to issue a Letter of Credit if (A) any order, judgment, or decree of any Governmental Authority or arbitrator shall, by its terms, purport to enjoin or restrain Issuing Bank from issuing such Letter of Credit, or any law applicable
to Issuing Bank or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction over Issuing Bank shall prohibit or request that Issuing Bank refrain from the issuance of letters of credit
generally or such Letter of Credit in particular, (B) the issuance of such Letter of Credit would violate one or more policies of Issuing Bank applicable to letters of credit generally, or (C) if amounts demanded to be paid under any
Letter of Credit will or may not be in Dollars. 
 (d) Any Issuing Bank (other than Wells Fargo or any of its Affiliates) shall notify Agent
in writing no later than the Business Day immediately following the Business Day on which such Issuing Bank issued any Letter of Credit; provided that (i) until Agent advises any such Issuing Bank that the provisions of Section 3.2
are not satisfied, or (ii) unless the aggregate amount of the Letters of Credit issued in any such week exceeds such amount as shall be agreed by Agent and such Issuing Bank, such Issuing Bank shall be required to so notify Agent in writing
only once each week of the Letters of Credit issued by such Issuing Bank during the immediately preceding week as well as the daily amounts outstanding for the prior week, such notice to be furnished on such day of the week as Agent and such Issuing
Bank may agree. Each Letter of Credit shall be in form and substance reasonably acceptable to Issuing Bank, including the requirement that the amounts payable thereunder must be payable in Dollars. If Issuing Bank makes a payment under a Letter of
Credit, Borrowers shall pay to Agent an amount equal to the applicable Letter of Credit Disbursement on the Business Day such Letter of Credit Disbursement is made and, in the absence of such payment, the amount of the Letter of Credit Disbursement
immediately and automatically shall be deemed to be a Revolving Loan hereunder (notwithstanding any failure to satisfy any condition precedent set forth in Section 3) and, initially, shall bear interest at the rate then applicable to
Revolving Loans that are Base Rate Loans. If a Letter of Credit Disbursement is deemed to be a Revolving Loan hereunder, Borrowers’ obligation to pay the amount of such Letter of Credit Disbursement to Issuing Bank shall be automatically
converted into an obligation to pay the resulting Revolving Loan. Promptly following receipt by Agent of any payment from Borrowers pursuant to this paragraph, Agent shall distribute such payment to Issuing Bank or, to the extent that Revolving
Lenders have made payments pursuant to Section 2.11(e) to reimburse Issuing Bank, then to such Revolving Lenders and Issuing Bank as their interests may appear. 

(e) Promptly following receipt of a notice of a Letter of Credit Disbursement pursuant to Section 2.11(d), each Revolving Lender
agrees to fund its Pro Rata Share of any Revolving Loan deemed made pursuant to Section 2.11(d) on the same terms and conditions as if Borrowers had requested the amount thereof as a Revolving Loan and Agent shall promptly pay to Issuing
Bank the amounts so received by it from the Revolving Lenders. By the issuance of a Letter of Credit (or an amendment, renewal, or extension of a Letter of 

  
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Credit) and without any further action on the part of Issuing Bank or the Revolving Lenders, Issuing Bank shall be deemed to have granted to each Revolving Lender, and each Revolving Lender shall
be deemed to have purchased, a participation in each Letter of Credit issued by Issuing Bank, in an amount equal to its Pro Rata Share of such Letter of Credit, and each such Revolving Lender agrees to pay to Agent, for the account of Issuing Bank,
such Revolving Lender’s Pro Rata Share of any Letter of Credit Disbursement made by Issuing Bank under the applicable Letter of Credit. In consideration and in furtherance of the foregoing, each Revolving Lender hereby absolutely and
unconditionally agrees to pay to Agent, for the account of Issuing Bank, such Revolving Lender’s Pro Rata Share of each Letter of Credit Disbursement made by Issuing Bank and not reimbursed by Borrowers on the date due as provided in
Section 2.11(d), or of any reimbursement payment that is required to be refunded (or that Agent or Issuing Bank elects, based upon the advice of counsel, to refund) to Borrowers for any reason. Each Revolving Lender acknowledges and
agrees that its obligation to deliver to Agent, for the account of Issuing Bank, an amount equal to its respective Pro Rata Share of each Letter of Credit Disbursement pursuant to this Section 2.11(e) shall be absolute and unconditional
and such remittance shall be made notwithstanding the occurrence or continuation of an Event of Default or Default or the failure to satisfy any condition set forth in Section 3. If any such Revolving Lender fails to make available to
Agent the amount of such Revolving Lender’s Pro Rata Share of a Letter of Credit Disbursement as provided in this Section, such Revolving Lender shall be deemed to be a Defaulting Lender and Agent (for the account of Issuing Bank) shall be
entitled to recover such amount on demand from such Revolving Lender together with interest thereon at the Defaulting Lender Rate until paid in full. 

(f) Each Borrower agrees to indemnify, defend and hold harmless each member of the Lender Group (including Issuing Bank and its branches,
Affiliates, and correspondents) and each such Person’s respective directors, officers, employees, attorneys and agents (each, including Issuing Bank, a “Letter of Credit Related Person”) (to the fullest extent permitted by law)
from and against any and all claims, demands, suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and damages, and all reasonable fees and disbursements of attorneys, experts, or consultants and all other costs and
expenses actually incurred in connection therewith or in connection with the enforcement of this indemnification (as and when they are incurred and irrespective of whether suit is brought), which may be incurred by or awarded against any such Letter
of Credit Related Person (other than Taxes, which shall be governed by Section 16) (the “Letter of Credit Indemnified Costs”), and which arise out of or in connection with, or as a result of: 

(i) any Letter of Credit or any pre-advice of its issuance; 

(ii) any transfer, sale, delivery, surrender or endorsement of any Drawing Document at any time(s) held by any such Letter of Credit Related
Person in connection with any Letter of Credit; 
 (iii) any action or proceeding arising out of, or in connection with, any Letter of
Credit (whether administrative, judicial or in connection with arbitration), including any action or proceeding to compel or restrain any presentation or payment under any Letter of Credit, or for the wrongful dishonor of, or honoring a presentation
under, any Letter of Credit; 
 (iv) any independent undertakings issued by the beneficiary of any Letter of Credit; 

(v) any unauthorized instruction or request made to Issuing Bank in connection with any Letter of Credit or requested Letter of Credit or
error in computer or electronic transmission; 
 (vi) an adviser, confirmer or other nominated person seeking to be reimbursed, indemnified
or compensated; 
 (vii) any third party seeking to enforce the rights of an applicant, beneficiary, nominated person, transferee, assignee
of Letter of Credit proceeds or holder of an instrument or document; 

  
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 (viii) the fraud, forgery or illegal action of parties other than the Letter of Credit Related
Person; 
 (ix) Issuing Bank’s performance of the obligations of a confirming institution or entity that wrongfully dishonors a
confirmation; or 
 (x) the acts or omissions, whether rightful or wrongful, of any present or future de jure or de facto governmental or
regulatory authority or cause or event beyond the control of the Letter of Credit Related Person; 
 in each case, including that resulting from the Letter
of Credit Related Person’s own negligence; provided, however, that such indemnity shall not be available to any Letter of Credit Related Person claiming indemnification under clauses (i) through (x) above to the extent
that such Letter of Credit Indemnified Costs may be finally determined in a final, non-appealable judgment of a court of competent jurisdiction to have resulted directly from the gross negligence or willful misconduct of the Letter of Credit Related
Person claiming indemnity. Borrowers hereby agree to pay the Letter of Credit Related Person claiming indemnity on demand from time to time all amounts owing under this Section 2.11(f). If and to the extent that the obligations of
Borrowers under this Section 2.11(f) are unenforceable for any reason, Borrowers agree to make the maximum contribution to the Letter of Credit Indemnified Costs permissible under applicable law. This indemnification provision shall
survive termination of this Agreement and all Letters of Credit. 
 (g) The liability of Issuing Bank (or any other Letter of Credit Related
Person) under, in connection with or arising out of any Letter of Credit (or pre-advice), regardless of the form or legal grounds of the action or proceeding, shall be limited to direct damages suffered by Borrowers that are caused directly by
Issuing Bank’s gross negligence or willful misconduct in (i) honoring a presentation under a Letter of Credit that on its face does not at least substantially comply with the terms and conditions of such Letter of Credit, (ii) failing
to honor a presentation under a Letter of Credit that strictly complies with the terms and conditions of such Letter of Credit or (iii) retaining Drawing Documents presented under a Letter of Credit. Issuing Bank shall be deemed to have acted
with due diligence and reasonable care if Issuing Bank’s conduct is in accordance with Standard Letter of Credit Practice or in accordance with this Agreement. Borrowers’ aggregate remedies against Issuing Bank and any Letter of Credit
Related Person for wrongfully honoring a presentation under any Letter of Credit or wrongfully retaining honored Drawing Documents shall in no event exceed the aggregate amount paid by Borrowers to Issuing Bank in respect of the honored presentation
in connection with such Letter of Credit under Section 2.11(d), plus interest at the rate then applicable to Base Rate Loans hereunder. Borrowers shall take action to avoid and mitigate the amount of any damages claimed against Issuing
Bank or any other Letter of Credit Related Person, including by enforcing its rights against the beneficiaries of the Letters of Credit. Any claim by Borrowers under or in connection with any Letter of Credit shall be reduced by an amount equal to
the sum of (x) the amount (if any) saved by Borrowers as a result of the breach or alleged wrongful conduct complained of; and (y) the amount (if any) of the loss that would have been avoided had Borrowers taken all reasonable steps to
mitigate any loss, and in case of a claim of wrongful dishonor, by specifically and timely authorizing Issuing Bank to effect a cure. 
 (h)
Borrowers are responsible for preparing or approving the final text of the Letter of Credit as issued by Issuing Bank, irrespective of any assistance Issuing Bank may provide such as drafting or recommending text or by Issuing Bank’s use or
refusal to use text submitted by Borrowers. Borrowers are solely responsible for the suitability of the Letter of Credit for Borrowers’ purposes. With respect to any Letter of Credit containing an “automatic amendment” to extend the
expiration date of such Letter of Credit, Issuing Bank, in its sole and absolute discretion, may give notice of nonrenewal of such Letter of Credit and, if Borrowers do not at any time want such Letter of Credit to be renewed, Borrowers will so
notify Agent and Issuing Bank at least 15 calendar days before Issuing Bank is required to notify the beneficiary of such Letter of Credit or any advising bank of such nonrenewal pursuant to the terms of such Letter of Credit. 

  
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 (i) Borrowers’ reimbursement and payment obligations under this Section 2.11 are
absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including: 

(i) any lack of validity, enforceability or legal effect of any Letter of Credit or this Agreement or any term or provision therein or
herein; 
 (ii) payment against presentation of any draft, demand or claim for payment under any Drawing Document that does not comply in
whole or in part with the terms of the applicable Letter of Credit or which proves to be fraudulent, forged or invalid in any respect or any statement therein being untrue or inaccurate in any respect, or which is signed, issued or presented by a
Person or a transferee of such Person purporting to be a successor or transferee of the beneficiary of such Letter of Credit; 
 (iii)
Issuing Bank or any of its branches or Affiliates being the beneficiary of any Letter of Credit; 
 (iv) Issuing Bank or any correspondent
honoring a drawing against a Drawing Document up to the amount available under any Letter of Credit even if such Drawing Document claims an amount in excess of the amount available under the Letter of Credit; 

(v) the existence of any claim, set-off, defense or other right that Borrowers or any other Person may have at any time against any
beneficiary, any assignee of proceeds, Issuing Bank or any other Person; 
 (vi) any other event, circumstance or conduct whatsoever,
whether or not similar to any of the foregoing that might, but for this Section 2.11(i), constitute a legal or equitable defense to or discharge of, or provide a right of set-off against, Borrowers’ reimbursement and other payment
obligations and liabilities, arising under, or in connection with, any Letter of Credit, whether against Issuing Bank, the beneficiary or any other Person; or 

(vii) the fact that any Default or Event of Default shall have occurred and be continuing; 

provided, however, that subject to Section 2.11(g) above, the foregoing shall not release Issuing Bank from such liability to
Borrowers as may be finally determined in a final, non-appealable judgment of a court of competent jurisdiction against Issuing Bank following reimbursement or payment of the obligations and liabilities, including reimbursement and other payment
obligations, of Borrowers to Issuing Bank arising under, or in connection with, this Section 2.11 or any Letter of Credit. 

(j) Without limiting any other provision of this Agreement, Issuing Bank and each other Letter of Credit Related Person (if applicable) shall
not be responsible to Borrowers for, and Issuing Bank’s rights and remedies against Borrowers and the obligation of Borrowers to reimburse Issuing Bank for each drawing under each Letter of Credit shall not be impaired by: 

(i) honor of a presentation under any Letter of Credit that on its face substantially complies with the terms and conditions of such Letter
of Credit, even if the Letter of Credit requires strict compliance by the beneficiary; 
 (ii) honor of a presentation of any Drawing
Document that appears on its face to have been signed, presented or issued (A) by any purported successor or transferee of any beneficiary or other Person required to sign, present or issue such Drawing Document or (B) under a new name of
the beneficiary; 
 (iii) acceptance as a draft of any written or electronic demand or request for payment under a Letter of Credit, even
if nonnegotiable or not in the form of a draft or notwithstanding any requirement that such draft, demand or request bear any or adequate reference to the Letter of Credit; 

  
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 (iv) the identity or authority of any presenter or signer of any Drawing Document or the form,
accuracy, genuineness or legal effect of any Drawing Document (other than Issuing Bank’s determination that such Drawing Document appears on its face substantially to comply with the terms and conditions of the Letter of Credit); 

(v) acting upon any instruction or request relative to a Letter of Credit or requested Letter of Credit that Issuing Bank in good faith
believes to have been given by a Person authorized to give such instruction or request; 
 (vi) any errors, omissions, interruptions or
delays in transmission or delivery of any message, advice or document (regardless of how sent or transmitted) or for errors in interpretation of technical terms or in translation or any delay in giving or failing to give notice to Borrowers; 

(vii) any acts, omissions or fraud by, or the insolvency of, any beneficiary, any nominated person or entity or any other Person or any
breach of contract between the beneficiary and any Borrower or any of the parties to the underlying transaction to which the Letter of Credit relates; 

(viii) assertion or waiver of any provision of the ISP or UCP that primarily benefits an issuer of a letter of credit, including any
requirement that any Drawing Document be presented to it at a particular hour or place; 
 (ix) payment to any paying or negotiating bank
(designated or permitted by the terms of the applicable Letter of Credit) claiming that it rightfully honored or is entitled to reimbursement or indemnity under Standard Letter of Credit Practice applicable to it; 

(x) acting or failing to act as required or permitted under Standard Letter of Credit Practice applicable to where Issuing Bank has issued,
confirmed, advised or negotiated such Letter of Credit, as the case may be; 
 (xi) honor of a presentation after the expiration date of
any Letter of Credit notwithstanding that a presentation was made prior to such expiration date and dishonored by Issuing Bank if subsequently Issuing Bank or any court or other finder of fact determines such presentation should have been honored;

 (xii) dishonor of any presentation that does not strictly comply or that is fraudulent, forged or otherwise not entitled to honor; or

 (xiii) honor of a presentation that is subsequently determined by Issuing Bank to have been made in violation of international, federal,
state or local restrictions on the transaction of business with certain prohibited Persons. 
 (k) Borrowers shall pay immediately upon
demand to Agent for the account of Issuing Bank as non-refundable fees, commissions, and charges (it being acknowledged and agreed that any charging of such fees, commissions, and charges to the Loan Account pursuant to the provisions of
Section 2.6(d) shall be deemed to constitute a demand for payment thereof for the purposes of this Section 2.11(k)): (i) a fronting fee which shall be imposed by Issuing Bank upon the issuance of each Letter of Credit of
0.825% per annum of the face amount thereof, plus (ii) any and all other customary commissions, fees and charges then in effect imposed by, and any and all expenses incurred by, Issuing Bank, or by any adviser, confirming
institution or entity or other nominated person, relating to Letters of Credit, at the time of issuance of any Letter of Credit and upon the occurrence of any other activity with respect to any Letter of Credit (including transfers, assignments of
proceeds, amendments, drawings, renewals or cancellations). 

  
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 (l) If by reason of (x) any Change in Law, or (y) compliance by Issuing Bank or any
other member of the Lender Group with any direction, request, or requirement (irrespective of whether having the force of law) of any Governmental Authority or monetary authority including, Regulation D of the Board of Governors as from time to time
in effect (and any successor thereto): 
 (i) any reserve, deposit, or similar requirement is or shall be imposed or modified in respect of
any Letter of Credit issued or caused to be issued hereunder or hereby, or 
 (ii) there shall be imposed on Issuing Bank or any other
member of the Lender Group any other condition regarding any Letter of Credit, 
 and the result of the foregoing is to increase, directly or indirectly,
the cost to Issuing Bank or any other member of the Lender Group of issuing, making, participating in, or maintaining any Letter of Credit or to reduce the amount receivable in respect thereof, then, and in any such case, Agent may, at any time
within a reasonable period after the additional cost is incurred or the amount received is reduced, notify Borrowers, and Borrowers shall pay within 30 days after demand therefor, such amounts as Agent may specify to be necessary to compensate
Issuing Bank or any other member of the Lender Group for such additional cost or reduced receipt, together with interest on such amount from the date of such demand until payment in full thereof at the rate then applicable to Base Rate Loans
hereunder; provided, that (A) Borrowers shall not be required to provide any compensation pursuant to this Section 2.11(l) for any such amounts incurred more than 180 days prior to the date on which the demand for payment of
such amounts is first made to Borrowers, and (B) if an event or circumstance giving rise to such amounts is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. The
determination by Agent of any amount due pursuant to this Section 2.11(l), as set forth in a certificate setting forth the calculation thereof in reasonable detail, shall, in the absence of manifest or demonstrable error, be final and
conclusive and binding on all of the parties hereto. 
 (i) Unless otherwise expressly agreed by Issuing Bank and Borrowers when a Letter of
Credit is issued, (i) the rules of the ISP and the UCP shall apply to each standby Letter of Credit, and (ii) the rules of the UCP shall apply to each commercial Letter of Credit. 

(j) In the event of a direct conflict between the provisions of this Section 2.11 and any provision contained in any Issuer
Document, it is the intention of the parties hereto that such provisions be read together and construed, to the fullest extent possible, to be in concert with each other. In the event of any actual, irreconcilable conflict that cannot be resolved as
aforesaid, the terms and provisions of this Section 2.11 shall control and govern. 
 2.12 LIBOR Option. 

(a) Interest and Interest Payment Dates. In lieu of having interest charged at the rate based upon the Base Rate, Borrowers shall have
the option, subject to Section 2.12(b) below (the “LIBOR Option”) to have interest on all or a portion of the Revolving Loans or the Term Loan be charged (whether at the time when made (unless otherwise provided herein),
upon conversion from a Base Rate Loan to a LIBOR Rate Loan, or upon continuation of a LIBOR Rate Loan as a LIBOR Rate Loan) at a rate of interest based upon the LIBOR Rate. Interest on LIBOR Rate Loans shall be payable on the earliest of
(i) the last day of the Interest Period applicable thereto; provided, that, subject to the following clauses (ii) and (iii), in the case of any Interest Period greater than 3 months in duration, interest shall be payable at 3 month
intervals after the commencement of the applicable Interest Period and on the last day of such Interest Period), (ii) the date on which all or any portion of the Obligations are accelerated pursuant to the terms hereof, or (iii) the date
on which this Agreement is terminated pursuant to the terms hereof. On the last day of each applicable Interest Period, unless Borrowers properly have exercised the LIBOR Option with respect thereto, the interest rate applicable to such LIBOR Rate
Loan automatically shall convert to the rate of interest then applicable to Base Rate Loans of the same type hereunder. At any time that an Event of Default has occurred and is continuing, at the written election of the Required Lenders, Borrowers
no longer shall have the option to request that Revolving Loans bear interest at a rate based upon the LIBOR Rate. 

  
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 (b) LIBOR Election. 

(i) Borrowers may, at any time and from time to time, so long as Borrowers have not received a notice from Agent (which notice Agent may
elect to give or not give in its discretion unless Agent is directed to give such notice by the Required Lenders, in which case, it shall give the notice to Borrowers), after the occurrence and during the continuance of an Event of Default, to
terminate the right of Borrowers to exercise the LIBOR Option during the continuance of such Event of Default, elect to exercise the LIBOR Option by notifying Agent prior to 11:00 a.m. at least 1 Business Day prior to the commencement of the
proposed Interest Period (the “LIBOR Deadline”). Notice of Borrowers’ election of the LIBOR Option for a permitted portion of the Revolving Loans or the Term Loan and an Interest Period pursuant to this Section shall be made by
delivery to Agent of a LIBOR Notice received by Agent before the LIBOR Deadline, or by telephonic notice received by Agent before the LIBOR Deadline (to be confirmed by delivery to Agent of a LIBOR Notice received by Agent prior to 5:00 p.m. on the
same day). Promptly upon its receipt of each such LIBOR Notice, Agent shall provide a copy thereof to each of the affected Lenders. 
 (ii)
Each LIBOR Notice shall be irrevocable and binding on Borrowers. In connection with each LIBOR Rate Loan, each Borrower shall indemnify, defend, and hold Agent and the Lenders harmless against any loss, cost, or expense actually incurred by Agent or
any Lender as a result of (A) the payment of any principal of any LIBOR Rate Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default), (B) the conversion of any LIBOR Rate Loan
other than on the last day of the Interest Period applicable thereto, or (C) the failure to borrow, convert, continue or prepay any LIBOR Rate Loan on the date specified in any LIBOR Notice delivered pursuant hereto (such losses, costs, or
expenses, “Funding Losses”). A certificate of Agent or a Lender delivered to Borrowers setting forth in reasonable detail any amount or amounts that Agent or such Lender is entitled to receive pursuant to this
Section 2.12 shall be conclusive absent manifest error. Borrowers shall pay such amount to Agent or the Lender, as applicable, within 30 days of the date of its receipt of such certificate. If a payment of a LIBOR Rate Loan on a day
other than the last day of the applicable Interest Period would result in a Funding Loss, Agent may, in its sole discretion at the request of Borrowers, hold the amount of such payment as cash collateral in support of the Obligations until the last
day of such Interest Period and apply such amounts to the payment of the applicable LIBOR Rate Loan on such last day, it being agreed that Agent has no obligation to so defer the application of payments to any LIBOR Rate Loan and that, in the event
that Agent does not defer such application, Borrowers shall be obligated to pay any resulting Funding Losses. 
 (iii) Unless Agent, in its
sole discretion, agrees otherwise, Borrowers shall have not more than 5 LIBOR Rate Loans in effect at any given time. Borrowers may only exercise the LIBOR Option for proposed LIBOR Rate Loans of at least $1,000,000. 

(c) Conversion. Borrowers may convert LIBOR Rate Loans to Base Rate Loans at any time; provided, that in the event that LIBOR
Rate Loans are converted or prepaid on any date that is not the last day of the Interest Period applicable thereto, including as a result of any prepayment through the required application by Agent of any payments or proceeds of Collateral in
accordance with Section 2.4(b) or for any other reason, including early termination of the term of this Agreement or acceleration of all or any portion of the Obligations pursuant to the terms hereof, each Borrower shall indemnify,
defend, and hold Agent and the Lenders and their Participants harmless against any and all Funding Losses in accordance with Section 2.12 (b)(ii). 

(d) Special Provisions Applicable to LIBOR Rate. 

(i) The LIBOR Rate may be adjusted by Agent with respect to any Lender on a prospective basis to take into account any additional or
increased costs to such Lender of maintaining or obtaining any eurodollar deposits or increased costs, in each case, due to changes in applicable law occurring subsequent to the commencement of the then applicable Interest Period, including any
Changes in Law (including any changes in tax laws (except changes of general applicability in corporate income tax laws)) and changes in the reserve requirements imposed by the Board of Governors, which additional or increased costs

  
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would increase the cost of funding or maintaining loans bearing interest at the LIBOR Rate. In any such event, the affected Lender shall give Borrowers and Agent notice of such a determination
and adjustment and Agent promptly shall transmit the notice to each other Lender and, upon its receipt of the notice from the affected Lender, Borrowers may, by notice to such affected Lender (A) require such Lender to furnish to Borrowers a
statement setting forth in reasonable detail the basis for adjusting such LIBOR Rate and the method for determining the amount of such adjustment, or (B) repay the LIBOR Rate Loans of such Lender with respect to which such adjustment is made
(together with any amounts due under Section 2.12(b)(ii)). 
 (ii) In the event that any change in market conditions or any
Change in Law shall at any time after the date hereof, in the reasonable opinion of any Lender, make it unlawful or impractical for such Lender to fund or maintain LIBOR Rate Loans or to continue such funding or maintaining, or to determine or
charge interest rates at the LIBOR Rate, such Lender shall give notice of such changed circumstances to Agent and Borrowers and Agent promptly shall transmit the notice to each other Lender and (y) in the case of any LIBOR Rate Loans of such
Lender that are outstanding, the date specified in such Lender’s notice shall be deemed to be the last day of the Interest Period of such LIBOR Rate Loans, and interest upon the LIBOR Rate Loans of such Lender thereafter shall accrue interest
at the rate then applicable to Base Rate Loans, and (z) Borrowers shall not be entitled to elect the LIBOR Option until such Lender determines that it would no longer be unlawful or impractical to do so. 

(e) No Requirement of Matched Funding. Anything to the contrary contained herein notwithstanding, neither Agent, nor any Lender, nor
any of their Participants, is required actually to acquire eurodollar deposits to fund or otherwise match fund any Obligation as to which interest accrues at the LIBOR Rate. 

2.13 Capital Requirements. 

(a) If, after the date hereof, Issuing Bank or any Lender determines that (i) any Change in Law regarding capital or reserve requirements
for banks or bank holding companies, or (ii) compliance by Issuing Bank or such Lender, or their respective parent bank holding companies, with any guideline, request or directive of any Governmental Authority regarding capital adequacy
(whether or not having the force of law), has the effect of reducing the return on Issuing Bank’s, such Lender’s, or such holding companies’ capital as a consequence of Issuing Bank’s or such Lender’s commitments hereunder
to a level below that which Issuing Bank, such Lender, or such holding companies could have achieved but for such Change in Law or compliance (taking into consideration Issuing Bank’s, such Lender’s, or such holding companies’ then
existing policies with respect to capital adequacy and assuming the full utilization of such entity’s capital) by any amount deemed by Issuing Bank or such Lender to be material, then Issuing Bank or such Lender may notify Borrowers and Agent
thereof. Following receipt of such notice, Borrowers agree to pay Issuing Bank or such Lender on demand the amount of such reduction of return of capital as and when such reduction is determined, payable within 30 days after presentation by Issuing
Bank or such Lender of a statement in the amount and setting forth in reasonable detail Issuing Bank’s or such Lender’s calculation thereof and the assumptions upon which such calculation was based (which statement shall be deemed true and
correct absent manifest error). In determining such amount, Issuing Bank or such Lender may use any reasonable averaging and attribution methods. Failure or delay on the part of Issuing Bank or any Lender to demand compensation pursuant to this
Section shall not constitute a waiver of Issuing Bank’s or such Lender’s right to demand such compensation; provided that Borrowers shall not be required to compensate Issuing Bank or a Lender pursuant to this Section for any
reductions in return incurred more than 180 days prior to the date that Issuing Bank or such Lender notifies Borrowers of such Change in Law giving rise to such reductions and of such Lender’s intention to claim compensation therefor;
provided further that if such claim arises by reason of the Change in Law that is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

(b) If Issuing Bank or any Lender requests additional or increased costs referred to in Section 2.11(l) or
Section 2.12(d)(i) or amounts under Section 2.13(a) or sends a notice under Section 2.12(d)(ii) relative to changed circumstances (such Issuing Bank or Lender, an “Affected Lender”), then such
Affected Lender shall use reasonable efforts to promptly designate a different one of its lending offices or to 

  
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assign its rights and obligations hereunder to another of its offices or branches, if (i) in the reasonable judgment of such Affected Lender, such designation or assignment would eliminate
or reduce amounts payable pursuant to Section 2.11(l), Section 2.12(d)(i) or Section 2.13(a), as applicable, or would eliminate the illegality or impracticality of funding or maintaining LIBOR Rate Loans and
(ii) in the reasonable judgment of such Affected Lender, such designation or assignment would not subject it to any material unreimbursed cost or expense and would not otherwise be materially disadvantageous to it. Borrowers agree to pay all
reasonable, documented out-of-pocket costs and expenses incurred by such Affected Lender in connection with any such designation or assignment. If, after such reasonable efforts, such Affected Lender does not so designate a different one of its
lending offices or assign its rights to another of its offices or branches so as to eliminate Borrowers’ obligation to pay any future amounts to such Affected Lender pursuant to Section 2.11(l), Section 2.12(d)(i) or
Section 2.13(a), as applicable, or to enable Borrowers to obtain LIBOR Rate Loans, then Borrowers (without prejudice to any amounts then due to such Affected Lender under Section 2.11(l), Section 2.12(d)(i) or
Section 2.13(a), as applicable) may, unless prior to the effective date of any such assignment the Affected Lender withdraws its request for such additional amounts under Section 2.11(l), Section 2.12(d)(i) or
Section 2.13(a), as applicable, or indicates that it is no longer unlawful or impractical to fund or maintain LIBOR Rate Loans, may designate a different Issuing Bank or substitute a Lender, in each case, reasonably acceptable to Agent
to purchase the Obligations owed to such Affected Lender and such Affected Lender’s commitments hereunder (a “Replacement Lender”), and if such Replacement Lender agrees to such purchase, such Affected Lender shall assign to
the Replacement Lender its Obligations and commitments, and upon such purchase by the Replacement Lender, which such Replacement Lender shall be deemed to be “Issuing Bank” or a “Lender” (as the case may be) for purposes of this
Agreement and such Affected Lender shall cease to be “Issuing Bank” or a “Lender” (as the case may be) for purposes of this Agreement. 

(c) Notwithstanding anything herein to the contrary, the protections of Sections 2.11(l), 2.12(d), and 2.13 shall be
available to Issuing Bank and each Lender (as applicable) regardless of any possible contention of the invalidity or inapplicability of the law, rule, regulation, judicial ruling, judgment, guideline, treaty or other change or condition which shall
have occurred or been imposed, so long as it shall be customary for issuing banks or lenders affected thereby to comply therewith. Notwithstanding any other provision herein, neither Issuing Bank nor any Lender shall demand compensation pursuant to
this Section 2.13 if it shall not at the time be the general policy or practice of Issuing Bank or such Lender (as the case may be) to demand such compensation in similar circumstances under comparable provisions of other credit
agreements, if any. 
 2.14 Joint and Several Liability of Borrowers. 

(a) Each Borrower is accepting joint and several liability hereunder and under the other Loan Documents in consideration of the financial
accommodations to be provided by the Lender Group under this Agreement, for the mutual benefit, directly and indirectly, of each Borrower and in consideration of the undertakings of the other Borrowers to accept joint and several liability for the
Obligations. 
 (b) Each Borrower, 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 Borrowers, with respect to the payment and performance of all of the Obligations (including any Obligations arising under this Section 2.14), it being the intention of the parties
hereto that all the Obligations shall be the joint and several obligations of each Borrower without preferences or distinction among them. 

(c) If and to the extent that any Borrower shall fail to make any payment with respect to any of the Obligations as and when due or to perform
any of the Obligations in accordance with the terms thereof, then in each such event the other Borrowers will make such payment with respect to, or perform, such Obligation until such time as all of the Obligations are paid in full. 

(d) The Obligations of each Borrower under the provisions of this Section 2.14 constitute the absolute and unconditional, full
recourse Obligations of each Borrower enforceable against each Borrower to the full extent of its properties and assets, irrespective of the validity, regularity or enforceability of the provisions of this Agreement (other than this
Section 2.14(d)) or any other circumstances whatsoever. 

  
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 (e) Except as otherwise expressly provided in this Agreement, each Borrower hereby waives notice
of acceptance of its joint and several liability, notice of any Revolving Loans or Letters of Credit issued under or pursuant to this Agreement, notice of the occurrence of any Default, Event of Default, or of any demand for any payment under this
Agreement, notice of any action at any time taken or omitted by Agent or Lenders under or in respect of any of the Obligations, any requirement of diligence or to mitigate damages and, generally, to the extent permitted by applicable law, all
demands, notices and other formalities of every kind in connection with this Agreement (except as otherwise provided in this Agreement). Each Borrower hereby assents to, and waives notice of, any extension or postponement of the time for the payment
of any of the Obligations, the acceptance of any payment of any of the Obligations, the acceptance of any partial payment thereon, any waiver, consent or other action or acquiescence by Agent or Lenders at any time or times in respect of any default
by any Borrower in the performance or satisfaction of any term, covenant, condition or provision of this Agreement, any and all other indulgences whatsoever by Agent or Lenders in respect of any of the Obligations, and the taking, addition,
substitution or release, in whole or in part, at any time or times, of any security for any of the Obligations or the addition, substitution or release, in whole or in part, of any Borrower. Without limiting the generality of the foregoing, each
Borrower assents to any other action or delay in acting or failure to act on the part of any Agent or Lender with respect to the failure by any Borrower to comply with any of its respective Obligations, including, without limitation, any failure
strictly or diligently to assert any right or to pursue any remedy or to comply fully with applicable laws or regulations thereunder, which might, but for the provisions of this Section 2.14 afford grounds for terminating, discharging or
relieving any Borrower, in whole or in part, from any of its Obligations under this Section 2.14, it being the intention of each Borrower that, so long as any of the Obligations hereunder remain unsatisfied, the Obligations of each
Borrower under this Section 2.14 shall not be discharged except by performance and then only to the extent of such performance. The Obligations of each Borrower under this Section 2.14 shall not be diminished or rendered
unenforceable by any winding up, reorganization, arrangement, liquidation, reconstruction or similar proceeding with respect to any other Borrower or any Agent or Lender. 

(f) Each Borrower represents and warrants to Agent and Lenders that such Borrower is currently informed of the financial condition of
Borrowers and of all other circumstances which a diligent inquiry would reveal and which bear upon the risk of nonpayment of the Obligations. Each Borrower further represents and warrants to Agent and Lenders that such Borrower has read and
understands the terms and conditions of the Loan Documents. Each Borrower hereby covenants that such Borrower will continue to keep informed of Borrowers’ financial condition and of all other circumstances which bear upon the risk of nonpayment
or nonperformance of the Obligations. 
 (g) The provisions of this Section 2.14 are made for the benefit of Agent, each member
of the Lender Group, each Bank Product Provider, and their respective successors and assigns, and may be enforced by it or them from time to time against any or all Borrowers as often as occasion therefor may arise and without requirement on the
part of Agent, any member of the Lender Group, any Bank Product Provider, or any of their successors or assigns first to marshal any of its or their claims or to exercise any of its or their rights against any Borrower or to exhaust any remedies
available to it or them against any Borrower or to resort to any other source or means of obtaining payment of any of the Obligations hereunder or to elect any other remedy. The provisions of this Section 2.14 shall remain in effect
until all of the Obligations shall have been paid in full or otherwise fully satisfied. If at any time, any payment, or any part thereof, made in respect of any of the Obligations, is rescinded or must otherwise be restored or returned by Agent or
any Lender upon the insolvency, bankruptcy or reorganization of any Borrower, or otherwise, the provisions of this Section 2.14 will forthwith be reinstated in effect, as though such payment had not been made. 

(h) Each Borrower hereby agrees that it will not enforce any of its rights of contribution or subrogation against any other Borrower with
respect to any liability incurred by it hereunder or under any of the other Loan Documents, any payments made by it to Agent or Lenders with respect to any of the Obligations or 

  
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any collateral security therefor until such time as all of the Obligations have been paid in full in cash. Any claim which any Borrower may have against any other Borrower with respect to any
payments to any Agent or any member of the Lender Group hereunder or under any of the Bank Product Agreements are hereby expressly made subordinate and junior in right of payment, without limitation as to any increases in the Obligations arising
hereunder or thereunder, to the prior payment in full in cash of the Obligations and, in the event of any insolvency, bankruptcy, receivership, liquidation, reorganization or other similar proceeding under the laws of any jurisdiction relating to
any Borrower, its debts or its assets, whether voluntary or involuntary, all such Obligations shall be paid in full in cash before any payment or distribution of any character, whether in cash, securities or other property, shall be made to any
other Borrower therefor. 
 (i) Each Borrower hereby agrees that after the occurrence and during the continuance of any Default or Event of
Default, such Borrower will not demand, sue for or otherwise attempt to collect any indebtedness of any other Borrower owing to such Borrower until the Obligations shall have been paid in full in cash. If, notwithstanding the foregoing sentence,
such Borrower shall collect, enforce or receive any amounts in respect of such indebtedness, such amounts shall be collected, enforced and received by such Borrower as trustee for Agent, and such Borrower shall deliver any such amounts to Agent for
application to the Obligations in accordance with Section 2.4(b). 
 3. CONDITIONS; TERM OF AGREEMENT. 

3.1 Conditions Precedent to the Initial Extension of Credit. The obligation of each Lender to make the initial extensions of
credit provided for hereunder is subject to the fulfillment, to the satisfaction of Agent and each Lender, of each of the conditions precedent set forth on Schedule 3.1 (the making of such initial extensions of credit by a Lender being
conclusively deemed to be its satisfaction or waiver of the conditions precedent). 
 3.2 Conditions Precedent to all Extensions of
Credit. The obligation of the Lender Group (or any member thereof) to make any Revolving Loans hereunder (or to extend any other credit hereunder) at any time shall be subject to the following conditions precedent: 

(a) the representations and warranties of each Borrower or its Subsidiaries contained in this Agreement or in the other Loan Documents shall
be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the date of
such extension of credit, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all
material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date); and 

(b) no Default or Event of Default shall have occurred and be continuing on the date of such extension of credit, nor shall either result from
the making thereof. 
 3.3 Maturity. This Agreement shall continue in full force and effect for a term ending on the Maturity
Date. 
 3.4 Effect of Maturity. On the Maturity Date, all commitments of the Lender Group to provide additional credit
hereunder shall automatically be terminated and all of the Obligations immediately shall become due and payable without notice or demand and Borrowers shall be required to repay all of the Obligations in full. No termination of the obligations of
the Lender Group (other than payment in full of the Obligations and termination of the Commitments) shall relieve or discharge any Loan Party of its duties, obligations, or covenants hereunder or under any other Loan Document and Agent’s Liens
in the Collateral shall continue to secure the Obligations and shall remain in effect until all Obligations have been paid in full and the Commitments have been terminated. When all of the Obligations have been paid in full and the Lender
Group’s obligations to provide additional credit under the Loan Documents have been terminated irrevocably, Agent 

  
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will, at Borrowers’ sole expense, execute and deliver any termination statements, lien releases, discharges of security interests, and other similar discharge or release documents (and, if
applicable, in recordable form) as are reasonably necessary to release, as of record, Agent’s Liens and all notices of security interests and liens previously filed by Agent. 

3.5 Early Termination by Borrowers. Borrowers have the option, at any time upon 10 Business Days prior written notice to Agent,
to terminate this Agreement and terminate the Commitments hereunder by repaying to Agent all of the Obligations in full. The foregoing notwithstanding, (a) Borrowers may rescind termination notices relative to proposed payments in full of the
Obligations with the proceeds of third party Indebtedness if the closing for such issuance or incurrence does not happen on or before the date of the proposed termination (in which case, a new notice shall be required to be sent in connection with
any subsequent termination), and (b) Borrowers may extend the date of termination at any time with the consent of Agent (which consent shall not be unreasonably withheld or delayed). 

3.6 Conditions Subsequent. The obligation of the Lender Group (or any member thereof) to continue to make Revolving Loans (or
otherwise extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of the conditions subsequent set forth on Schedule 3.6 (the failure by Borrowers to so perform or cause to be performed such
conditions subsequent as and when required by the terms thereof (unless such date is extended, in writing, by Agent, which Agent may do without obtaining the consent of the other members of the Lender Group), shall constitute an Event of Default).

 4. REPRESENTATIONS AND WARRANTIES. 

In order to induce the Lender Group to enter into this Agreement, each Borrower makes the following representations and warranties to the
Lender Group which shall be true, correct, and complete, in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text
thereof), as of the Closing Date, and shall be true, correct, and complete, in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by
materiality in the text thereof), as of the date of the making of each Revolving Loan (or other extension of credit) made thereafter, as though made on and as of the date of such Revolving Loan (or other extension of credit) (except to the extent
that such representations and warranties relate solely to an earlier date, in which case such representations and warranties shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any
representations and warranties that already are qualified or modified by materiality in the text thereof) as of such earlier date) and such representations and warranties shall survive the execution and delivery of this Agreement: 

4.1 Due Organization and Qualification; Subsidiaries. 

(a) Each Loan Party (i) is duly organized and existing and in good standing under the laws of the jurisdiction of its organization,
(ii) is qualified to do business in any state where the failure to be so qualified could reasonably be expected to result in a Material Adverse Effect, and (iii) has all requisite power and authority to own and operate its properties, to
carry on its business as now conducted (after giving effect to the Merger), to enter into the Loan Documents to which it is a party and to carry out the transactions contemplated thereby. 

(b) Set forth on Schedule 4.1(b) (as such Schedule may be updated from time to time to reflect changes resulting from transactions
permitted under this Agreement) is a complete and accurate description of the authorized Equity Interests of each Borrower, by class, and, as of the Closing Date, a description of the number of shares of each such class that are issued and
outstanding. No Borrower is subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any shares of its Equity Interests or any security convertible into or exchangeable for any of its Equity Interests. 

  
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 (c) Set forth on Schedule 4.1(c) (as such Schedule may be updated from time to time to
reflect changes resulting from transactions permitted under this Agreement), is a complete and accurate list of Borrowers’ direct and indirect Subsidiaries, showing: (i) the number of shares of each class of common and preferred Equity
Interests authorized for each of such Subsidiaries, and (ii) the number and the percentage of the outstanding shares of each such class owned directly or indirectly by Administrative Borrower. All of the outstanding Equity Interests of each
such Subsidiary has been validly issued and is fully paid and non-assessable. 
 (d) Except as set forth on Schedule 4.1(d), as of
the Closing Date, there are no subscriptions, options, warrants, or calls relating to any shares of any Borrower’s or any of its Subsidiaries’ Equity Interests, including any right of conversion or exchange under any outstanding security
or other instrument. 
 4.2 Due Authorization; No Conflict. 

(a) As to each Loan Party, the execution, delivery, and performance by such Loan Party of the Loan Documents to which it is a party have been
duly authorized by all necessary action on the part of such Loan Party. 
 (b) As to each Loan Party, the execution, delivery, and
performance by such Loan Party of the Loan Documents to which it is a party do not and will not (i) violate any material provision of federal, state, or local law or regulation applicable to any Loan Party or its Subsidiaries, the Governing
Documents of any Loan Party or its Subsidiaries, or any order, judgment, or decree of any court or other Governmental Authority binding on any Loan Party or its Subsidiaries, (ii) conflict with, result in a breach of, or constitute (with due
notice or lapse of time or both) a default under any material agreement of any Loan Party or its Subsidiaries where any such conflict, breach or default could individually or in the aggregate reasonably be expected to have a Material Adverse Effect,
(iii) result in or require the creation or imposition of any Lien of any nature whatsoever upon any assets of any Loan Party, other than Permitted Liens, or (iv) require any approval of any holder of Equity Interests of a Loan Party or any
approval or consent of any Person under any material agreement of any Loan Party, other than consents or approvals that have been obtained and that are still in force and effect and except, in the case of material agreements, for consents or
approvals, the failure to obtain could not individually or in the aggregate reasonably be expected to cause a Material Adverse Effect. 

4.3 Governmental Consents. The execution, delivery, and performance by each Loan Party of the Loan Documents to which such Loan
Party is a party and the consummation of the transactions contemplated by the Loan Documents do not and will not require any registration with, consent, or approval of, or notice to, or other action with or by, any Governmental Authority, other than
registrations, consents, approvals, notices, or other actions that have been obtained and that are still in force and effect and except for filings and recordings with respect to the Collateral to be made, or otherwise delivered to Agent for filing
or recordation, as of the Closing Date. 
 4.4 Binding Obligations; Perfected Liens. 

(a) Each Loan Document has been duly executed and delivered by each Loan Party that is a party thereto and is the legally valid and binding
obligation of such Loan Party, enforceable against such Loan Party in accordance with its respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws
relating to or limiting creditors’ rights generally. 
 (b) Agent’s Liens are validly created, perfected (other than (i) in
respect of motor vehicles that are subject to a certificate of title, (ii) money, (iii) letter-of-credit rights (other than supporting obligations, (iv) commercial tort claims (other than those that, by the terms of the Guaranty and
Security Agreement, are required to be perfected), and (v) any Deposit Accounts and Securities Accounts not subject to a Control Agreement as permitted by Section 7(k)(iv) of the Guaranty and Security Agreement, and subject only to
the 

  
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filing of financing statements, the recordation of the Copyright Security Agreement, and the recordation of the Mortgages, in each case, in the appropriate filing offices), and first priority
Liens, subject only to Permitted Liens which are non-consensual Permitted Liens, permitted purchase money Liens, or the interests of lessors under Capital Leases. 

4.5 Title to Assets; No Encumbrances. Each of the Loan Parties and its Subsidiaries has (a) good and legal title to (in the
case of fee interests in Real Property), (b) valid leasehold interests in (in the case of leasehold interests in real or personal property), and (c) good and marketable title to (in the case of all other personal property), all of their
respective assets reflected in their most recent financial statements delivered pursuant to Section 5.1, in each case except for assets disposed of since the date of such financial statements to the extent permitted hereby. All of such
assets are free and clear of Liens except for Permitted Liens. 
 4.6 Litigation. 

(a) There are no actions, suits, or proceedings pending or, to the knowledge of any Borrower, after due inquiry, threatened in writing against
a Loan Party or any of its Subsidiaries that either individually or in the aggregate could reasonably be expected to result in a Material Adverse Effect. 

(b) Schedule 4.6(b) sets forth a complete and accurate description, with respect to each of the actions, suits, or proceedings with
asserted liabilities in excess of, or that could reasonably be expected to result in liabilities in excess of, $250,000 that, as of the Closing Date, is pending or, to the knowledge of any Borrower, after due inquiry, threatened against a Loan Party
or any of its Subsidiaries, of (i) the parties to such actions, suits, or proceedings, (ii) the nature of the dispute that is the subject of such actions, suits, or proceedings, (iii) the procedural status, as of the Closing Date,
with respect to such actions, suits, or proceedings, and (iv) whether any liability of the Loan Parties’ and their Subsidiaries in connection with such actions, suits, or proceedings is covered by insurance. 

4.7 Compliance with Laws. No Loan Party nor any of its Subsidiaries (a) is in violation of any applicable laws, rules,
regulations, executive orders, or codes (including Environmental Laws) that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect, or (b) is subject to or in default with respect to any final
judgments, writs, injunctions, decrees, rules or regulations of any court or any federal, state, municipal or other governmental department, commission, board, bureau, agency or instrumentality, domestic or foreign, that, individually or in the
aggregate, could reasonably be expected to result in a Material Adverse Effect. 
 4.8 No Material Adverse Effect. All
historical financial statements relating to the Loan Parties and their Subsidiaries that have been delivered by Borrowers to Agent have been prepared in accordance with GAAP (except, in the case of unaudited financial statements, for the lack of
footnotes and being subject to year-end audit adjustments) and present fairly in all material respects, the Loan Parties’ and their Subsidiaries’ consolidated financial condition as of the date thereof and results of operations for the
period then ended. Since December 31, 2011, no event, circumstance, or change has occurred that has or could reasonably be expected to result in a Material Adverse Effect with respect to the Loan Parties and their Subsidiaries. 

4.9 Solvency. 

(a) Each Loan Party is Solvent. 

(b) No transfer of property is being made by any Loan Party and no obligation is being incurred by any Loan Party in connection with the
transactions contemplated by this Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of such Loan Party. 

  
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 4.10 Employee Benefits. 

(a) Except as set forth on Schedule 4.10 (as such Schedule may be updated from time to time, so long as such updated Schedule is delivered
together with written notice thereof to Agent), no Loan Party, none of its Subsidiaries, nor any of their respective ERISA Affiliates maintains or contributes to any Benefit Plan. 

(b) Each Loan Party and each of the ERISA Affiliates has complied in all material respects with ERISA, the IRC and all applicable laws
regarding each Employee Benefit Plan. 
 (c) Each Employee Benefit Plan is, and has been, maintained in substantial compliance with ERISA,
the IRC, all applicable laws and the terms of each such Employee Benefit Plan. 
 (d) Each Employee Benefit Plan that is intended to qualify
under Section 401(a) of the IRC has received a favorable determination letter from the Internal Revenue Service or an application for such letter is currently being processed by the Internal Revenue Service. To the best knowledge of each Loan
Party and the ERISA Affiliates after due inquiry, nothing has occurred which would prevent, or cause the loss of, such qualification. 
 (e)
No liability to the PBGC (other than for the payment of current premiums which are not past due) by any Loan Party or ERISA Affiliate has been incurred or is expected by any Loan Party or ERISA Affiliate to be incurred with respect to any Pension
Plan. 
 (f) No Notification Event exists or has occurred in the past six (6) years. 

(g) No Loan Party or ERISA Affiliate sponsors, maintains, or contributes to any Employee Benefit Plan, including, without limitation, any such
plan maintained to provide benefits to former employees of such entities that may not be terminated by any Loan Party or ERISA Affiliate in its sole discretion at any time without material liability. 

(h) No Loan Party or ERISA Affiliate has provided any security under Section 436 of the IRC. 

4.11 Environmental Condition. Except as set forth on Schedule 4.11, (a) to each Borrower’s knowledge, no Loan
Party’s nor any of its Subsidiaries’ properties or assets has ever been used by a Loan Party or its Subsidiaries, or by previous owners or operators in the disposal of, or to produce, store, handle, treat, release, or transport, any
Hazardous Materials, where such disposal, production, storage, handling, treatment, release or transport was in violation, in any material respect, of any applicable Environmental Law, (b) to each Borrower’s knowledge, after due inquiry,
no Loan Party’s nor any of its Subsidiaries’ properties or assets has ever been designated or identified in any manner pursuant to any environmental protection statute as a Hazardous Materials disposal site, (c) no Loan Party nor any
of its Subsidiaries has received notice that a Lien arising under any Environmental Law has attached to any revenues or to any Real Property owned or operated by a Loan Party or its Subsidiaries, and (d) no Loan Party nor any of its
Subsidiaries nor any of their respective facilities or operations is subject to any outstanding written order, consent decree, or settlement agreement with any Person relating to any Environmental Law or Environmental Liability that, individually or
in the aggregate, could reasonably be expected to result in a Material Adverse Effect. 
 4.12 Complete Disclosure. All
factual information taken as a whole (other than forward-looking information and projections and information of a general economic nature and general information about Borrowers’ industry) furnished by or on behalf of a Loan Party or its
Subsidiaries in writing to Agent or any Lender (including all information contained in the Schedules hereto or in the other Loan Documents) for purposes of or in connection with this Agreement or the other Loan Documents, and all other such factual
information taken as a whole (other than forward-looking information and projections and information of a general economic nature and general information about Borrowers’ industry) hereafter furnished by or on behalf of a Loan Party or its
Subsidiaries in writing to Agent or any Lender will be, true and accurate, in all material respects, on the date as of which such information is dated or certified and not incomplete by omitting to state

  
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any fact necessary to make such information (taken as a whole) not misleading in any material respect at such time in light of the circumstances under which such information was provided. The
Projections delivered to Agent on December 19, 2012 represent, and as of the date on which any other Projections are delivered to Agent, such additional Projections represent, Borrowers’ good faith estimate, on the date such Projections
are delivered, of the Loan Parties’ and their Subsidiaries’ future performance for the periods covered thereby based upon assumptions believed by Borrowers to be reasonable at the time of the delivery thereof to Agent (it being understood
that such Projections are subject to significant uncertainties and contingencies, many of which are beyond the control of the Loan Parties and their Subsidiaries, and no assurances can be given that such Projections will be realized, and although
reflecting Borrowers’ good faith estimate, projections or forecasts based on methods and assumptions which Borrowers believed to be reasonable at the time such Projections were prepared, are not to be viewed as facts, and that actual results
during the period or periods covered by the Projections may differ materially from projected or estimated results). 
 4.13 Patriot
Act. To the extent applicable, each Loan Party is in compliance, in all material respects, with the (a) Trading with the Enemy Act, as amended, and each of the foreign assets control regulations of the United States Treasury Department
(31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (b) Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA
Patriot Act of 2001) (the “Patriot Act”). No part of the proceeds of the loans made hereunder will be used by any Loan Party or any of their Affiliates, directly or indirectly, for any payments to any governmental official or
employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United
States Foreign Corrupt Practices Act of 1977, as amended. 
 4.14 Indebtedness. Set forth on Schedule 4.14 is a true
and complete list of all Indebtedness of each Loan Party and each of its Subsidiaries outstanding immediately prior to the Closing Date that is to remain outstanding immediately after giving effect to the closing hereunder on the Closing Date and
such Schedule accurately sets forth the aggregate principal amount of such Indebtedness as of the Closing Date. 
 4.15 Payment of
Taxes. Except as otherwise permitted under Section 5.5, all tax returns and reports of each Loan Party and its Subsidiaries required to be filed by any of them have been timely filed, and all taxes shown on such tax returns to be
due and payable and all assessments, fees and other governmental charges upon a Loan Party and its Subsidiaries and upon their respective assets, income, businesses and franchises that are due and payable have been paid when due and payable. Each
Loan Party and each of its Subsidiaries have made adequate provision in accordance with GAAP for all taxes not yet due and payable. No Borrower knows of any proposed tax assessment against a Loan Party or any of its Subsidiaries that is not being
actively contested by such Loan Party or such Subsidiary diligently, in good faith, and by appropriate proceedings; provided such reserves or other appropriate provisions, if any, as shall be required in conformity with GAAP shall have been
made or provided therefor. 
 4.16 Margin Stock. No Loan Party nor any of its Subsidiaries is engaged principally, or as one
of its important activities, in the business of extending credit for the purpose of purchasing or carrying any Margin Stock. No part of the proceeds of the loans made to Borrowers will be used to purchase or carry any Margin Stock or to extend
credit to others for the purpose of purchasing or carrying any Margin Stock or for any purpose that violates the provisions of Regulation T, U or X of the Board of Governors. 

4.17 Governmental Regulation. No Loan Party nor any of its Subsidiaries is subject to regulation under the Federal Power Act or
the Investment Company Act of 1940 or under any other federal or state statute or regulation which may limit its ability to incur Indebtedness or which may otherwise render all or any portion of the Obligations unenforceable. No Loan Party nor any
of its Subsidiaries is a “registered investment company” or a company “controlled” by a “registered investment company” or a “principal underwriter” of a “registered investment company” as such terms
are defined in the Investment Company Act of 1940. 

  
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 4.18 OFAC. No Loan Party nor any of its Subsidiaries is in violation of any of the
country or list based economic and trade sanctions administered and enforced by OFAC. No Loan Party nor any of its Subsidiaries (a) is a Sanctioned Person or a Sanctioned Entity, (b) has its assets located in Sanctioned Entities, or
(c) derives revenues from investments in, or transactions with Sanctioned Persons or Sanctioned Entities. No proceeds of any loan made hereunder will be used to fund any operations in, finance any investments or activities in, or make any
payments to, a Sanctioned Person or a Sanctioned Entity. 
 4.19 Employee and Labor Matters. There is (i) no unfair labor
practice complaint pending, or to the knowledge of any Borrower, threatened against any Borrower or its Subsidiaries before any Governmental Authority and no grievance or arbitration proceeding pending or to the knowledge of any Borrower, threatened
against any Borrower or its Subsidiaries which arises out of or under any collective bargaining agreement and that could reasonably be expected to result in a Material Adverse Effect, (ii) no strike, labor dispute, slowdown, stoppage or similar
action or grievance pending or, to the knowledge of any Borrower, threatened in writing against any Borrower or its Subsidiaries that could reasonably be expected to result in a Material Adverse Effect, or (iii) to the knowledge of any
Borrower, after due inquiry, no union representation question existing with respect to the employees of any Borrower or its Subsidiaries and no union organizing activity taking place with respect to any of the employees of any Borrower or its
Subsidiaries. None of any Borrower or its Subsidiaries has incurred any liability or obligation under the Worker Adjustment and Retraining Notification Act or similar state law, which remains unpaid or unsatisfied. The hours worked and payments made
to employees of each Borrower and its Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable legal requirements, except to the extent such violations could not, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect. All material payments due from any Borrower or its Subsidiaries on account of wages and employee health and welfare insurance and other benefits have been paid or accrued as a liability on the books
of Borrowers, except where the failure to do so could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. 

4.20 Other Documents. 

(a) Borrowers have delivered to Agent a complete and correct copy of the Acquisition Documents, including all schedules and exhibits thereto.
The execution, delivery and performance of each of the Acquisition Documents has been duly authorized by all necessary action on the part of each Borrower who is a party thereto. Each Acquisition Document is the legal, valid and binding obligation
of each Borrower who is a party thereto, enforceable against such Borrower in accordance with its terms, in each case, except (i) as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating
to or affecting generally the enforcement of creditors’ rights and (ii) the availability of the remedy of specific performance or injunctive or other equitable relief is subject to the discretion of the court before which any proceeding
therefor may be brought. No Borrower is in default in the performance or compliance with any provisions thereof. All representations and warranties made by a Borrower in the Acquisition Documents and in the certificates delivered in connection
therewith are true and correct in all material respects. To each Borrower’s knowledge, none of the Seller’s representations or warranties in the Acquisition Documents contain any untrue statement of a material fact or omit any fact
necessary to make the statements therein not misleading, in any case that could reasonably be expected to result in a Material Adverse Effect. 

(b) As of the Closing Date, the Merger has been consummated in all material respects, in accordance with all applicable laws. As of the
Closing Date, all requisite approvals by Governmental Authorities having jurisdiction over Borrowers and, to each Borrower’s knowledge, the Seller, with respect to the Merger, have been obtained (including filings or approvals required under
the Hart-Scott-Rodino Antitrust Improvements Act), except for any approval the failure to obtain could not reasonably be expected to be material to the interests of the Lenders. As of the Closing Date, after giving effect to the transactions
contemplated by the Acquisition Documents, Borrowers will have good title to the assets acquired pursuant to the Acquisition Agreement, free and clear of all Liens other than Permitted Liens. 

4.21 Leases. Each Loan Party and its Subsidiaries enjoy peaceful and undisturbed possession under all leases material to their
business and to which they are parties or under which they are operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Loan Party or its Subsidiaries exists under
any of them. 

  
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 4.22 Material Contracts. Set forth on Schedule 4.22 (as such Schedule may be
updated from time to time in accordance herewith) is a reasonably detailed description of the Material Contracts of each Loan Party and its Subsidiaries as of the most recent date on which Borrowers provided the Compliance Certificate pursuant to
Section 5.1; provided, however, that Borrowers may amend Schedule 4.22 to add additional Material Contracts so long as such amendment occurs by written notice to Agent on the date that Borrowers provide the
Compliance Certificate. Except for matters which, either individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, each Material Contract (other than those that have expired at the end of their normal
terms) is in full force and effect and is binding upon and enforceable against the applicable Loan Party or its Subsidiary. 
 5. AFFIRMATIVE
COVENANTS. 
 Each Borrower covenants and agrees that, until termination of all of the Commitments and payment in full of the
Obligations: 
 5.1 Financial Statements, Reports, Certificates. Borrowers (a) will deliver to Agent (and if so requested
by Agent, with copies for each Lender) each of the financial statements, reports, and other items set forth on Schedule 5.1 no later than the times specified therein, (b) agree that no Subsidiary of a Loan Party will have a fiscal year
different from that of Administrative Borrower, (c) agree to maintain a system of accounting that enables Borrowers to produce financial statements in accordance with GAAP, and (d) agree that they will, and will cause each other Loan Party
to, maintain their billing systems and practices substantially as in effect as of the Closing Date and shall only make material modifications (other than those with respect to implementation of the ERP system made in consultation with Agent) thereto
with notice to, and with the consent of, Agent. For avoidance of doubt, any proposed modifications to Borrowers’ recognition of implementation costs or changes to revenue recognition with respect to implementation revenue shall be disclosed to
Agent and may result in amendments to the financial covenants set forth in Section 7 hereof. 
 5.2 Reporting. Borrowers
will deliver to Agent (and if so requested by Agent, with copies for each Lender) each of the reports set forth on Schedule 5.2 at the times specified therein. 

5.3 Existence. Except as otherwise permitted under Section 6.3 or Section 6.4, each Borrower will, and
will cause each of its Subsidiaries to, at all times preserve and keep in full force and effect such Person’s valid existence and good standing in its jurisdiction of organization and, except as could not reasonably be expected to result in a
Material Adverse Effect, good standing with respect to all other jurisdictions in which it is qualified to do business and any rights, franchises, permits, licenses, accreditations, authorizations, or other approvals material to their businesses.

 5.4 Maintenance of Properties. Each Borrower will, and will cause each of its Subsidiaries to, maintain and preserve all of
its assets that are necessary or useful in the proper conduct of its business in good working order and condition, ordinary wear, tear, casualty, and condemnation and Permitted Dispositions excepted and except where the failure to so maintain and
preserve assets could not reasonably be expected to result in a Material Adverse Effect. 
 5.5 Taxes. Each Borrower will, and
will cause each of its Subsidiaries to, pay in full before delinquency or before the expiration of any extension period all material governmental assessments and taxes imposed, levied, or assessed against it, or any of its assets or in respect of
any of its income, businesses, or franchises, except to the extent that the validity of such governmental assessment or tax is the subject of a Permitted Protest. 

5.6 Insurance. Each Borrower will, and will cause each of its Subsidiaries to, at such Borrower’s expense,
(a) maintain insurance respecting each of each Borrower’s and its Subsidiaries’ assets wherever 

  
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located, covering liabilities, losses or damages as are customarily are insured against by other Persons engaged in same or similar businesses and similarly situated and located. All such
policies of insurance shall be with financially sound and reputable insurance companies acceptable to Agent (it being agreed that, as of the Closing Date, Wells Fargo Insurance Services, Inc. is acceptable to Agent) and in such amounts as is carried
generally in accordance with sound business practice by companies in similar businesses similarly situated and located and, in any event, in amount, adequacy, and scope reasonably satisfactory to Agent (it being agreed that the amount, adequacy, and
scope of the policies of insurance of Borrowers in effect as of the Closing Date are acceptable to Agent). All property insurance policies covering the Collateral are to be made payable to Agent for the benefit of Agent and the Lenders, as their
interests may appear, in case of loss, pursuant to a standard loss payable endorsement with a standard non contributory “lender” or “secured party” clause and are to contain such other provisions as Agent may reasonably require
to fully protect the Lenders’ interest in the Collateral and to any payments to be made under such policies. All certificates of property and general liability insurance are to be delivered to Agent, with the loss payable (but only in respect
of Collateral) and additional insured endorsements in favor of Agent and shall provide for not less than 30 days (10 days in the case of non-payment) prior written notice to Agent of the exercise of any right of cancellation. Borrowers shall give
Agent prompt notice of any loss exceeding $250,000 covered by their or their Subsidiaries’ casualty or business interruption insurance. Upon the occurrence and during the continuance of an Event of Default, Agent shall have the sole right to
file claims under any property and general liability insurance policies in respect of the Collateral, to receive, receipt and give acquittance for any payments that may be payable thereunder, and to execute any and all endorsements, receipts,
releases, assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies. 

5.7 Inspection.  

(a) Subject to Section 2.10(c), each Borrower will, and will cause each of its Subsidiaries to, permit Agent, any Lender, and each of
their respective duly authorized representatives or agents to visit any of its properties and inspect any of its assets or books and records, to examine and make copies of its books and records, and to discuss its affairs, finances, and accounts
with, and to be advised as to the same by, its officers and employees (provided an authorized representative of a Borrower shall be allowed to be present) at such reasonable times and intervals as Agent or any Lender, as applicable, may designate
and, so long as no Default or Event of Default has occurred and is continuing, with reasonable prior notice to Borrowers and during regular business hours. 

(b) Subject to Section 2.10(c), each Borrower will, and will cause each of its Subsidiaries to, permit Agent and each of its duly
authorized representatives or agents to conduct appraisals and valuations at such reasonable times and intervals as Agent may designate. 

5.8 Compliance with Laws. Each Borrower will, and will cause each of its Subsidiaries to, comply with the requirements of all
applicable laws, rules, regulations, and orders of any Governmental Authority, other than laws, rules, regulations, and orders the non-compliance with which, individually or in the aggregate, could not reasonably be expected to result in a Material
Adverse Effect. 
 5.9 Environmental. Each Borrower will, and will cause each of its Subsidiaries to, 

(a) Keep any property either owned or operated by any Borrower or its Subsidiaries free of any Environmental Liens or post bonds or other
financial assurances sufficient to satisfy the obligations or liability evidenced by such Environmental Liens, 
 (b) Comply, in all
material respects, with Environmental Laws, 
 (c) Promptly notify Agent of any release of which any Borrower has knowledge of a Hazardous
Material in any reportable quantity from or onto property owned or operated by any Borrower or its Subsidiaries and take any Remedial Actions required to abate said release or otherwise to come into compliance, in all material respects, with
applicable Environmental Law, and 
 (d) Promptly, but in any event within 5 Business Days of its receipt thereof, provide Agent with
written notice of any of the following: (i) notice that an Environmental Lien has been filed against any of the real or personal property of a Borrower or its Subsidiaries, (ii) commencement of any Environmental Action or written notice
that an Environmental Action will be filed against a Borrower or its Subsidiaries, and (iii) written notice of a violation, citation, or other administrative order from a Governmental Authority. 

  
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 5.10 Disclosure Updates. Each Borrower will, promptly and in no event later than 5
Business Days after obtaining knowledge thereof, notify Agent if any written information, exhibit, or report furnished to Agent or the Lenders in accordance with the terms of this Agreement contained, at the time it was furnished, any untrue
statement of a material fact or omitted to state any material fact necessary to make the statements contained therein not misleading in light of the circumstances in which made. The foregoing to the contrary notwithstanding, any notification
pursuant to the foregoing provision will not cure or remedy the effect of the prior untrue statement of a material fact or omission of any material fact nor shall any such notification have the effect of amending or modifying this Agreement or any
of the Schedules hereto. 
 5.11 Formation of Subsidiaries. Each Borrower will, at the time that any Loan Party forms any
direct or indirect Subsidiary or acquires any direct or indirect Subsidiary after the Closing Date, within 10 days of such formation or acquisition (or such later date as permitted by Agent in its sole discretion) (a) cause such new Subsidiary
to provide to Agent a joinder to the Guaranty and Security Agreement, together with such other security agreements (including mortgages with respect to any Real Property owned in fee of such new Subsidiary with a fair market value greater than
$1,000,000), as well as appropriate financing statements (and with respect to all property subject to a mortgage, fixture filings), all in form and substance reasonably satisfactory to Agent (including being sufficient to grant Agent a first
priority Lien (subject to Permitted Liens) in and to the assets of such newly formed or acquired Subsidiary); provided, that the joinder to the Guaranty and Security Agreement, and such other security agreements shall not be required to be
provided to Agent with respect to any Subsidiary of any Borrower that is a CFC if providing such agreements would result in adverse tax consequences or the costs to the Loan Parties of providing such guaranty or such security agreements are
unreasonably excessive (as determined by Agent in consultation with Borrowers) in relation to the benefits to Agent and the Lenders of the security or guarantee afforded thereby, (b) provide, or cause the applicable Loan Party to provide, to
Agent a pledge agreement (or an addendum to the Guaranty and Security Agreement) and appropriate certificates and powers or financing statements, pledging all of the direct or beneficial ownership interest in such new Subsidiary in form and
substance reasonably satisfactory to Agent; provided, that only 65% of the total outstanding voting Equity Interests of any first tier Subsidiary of a Borrower that is a CFC (and none of the Equity Interests of any Subsidiary of such CFC)
shall be required to be pledged if pledging a greater amount would result in adverse tax consequences or the costs to the Loan Parties of providing such pledge are unreasonably excessive (as determined by Agent in consultation with Borrowers) in
relation to the benefits to Agent and the Lenders of the security afforded thereby (which pledge, if reasonably requested by Agent, shall be governed by the laws of the jurisdiction of such Subsidiary), and (c) provide to Agent all other
documentation, including one or more opinions of counsel reasonably satisfactory to Agent, which, in its opinion, is appropriate with respect to the execution and delivery of the applicable documentation referred to above (including policies of
title insurance or other documentation with respect to all Real Property owned in fee and subject to a mortgage). Any document, agreement, or instrument executed or issued pursuant to this Section 5.11 shall constitute a Loan Document.

 5.12 Further Assurances. Each Borrower will, and will cause each of the other Loan Parties to, at any time upon the
reasonable request of Agent, execute or deliver to Agent any and all financing statements, fixture filings, security agreements, pledges, assignments, mortgages, deeds of trust, opinions of counsel, and all other documents (the “Additional
Documents”) that Agent may reasonably request in form and substance reasonably satisfactory to Agent, to create, perfect, and continue perfected or to better perfect Agent’s Liens in all of the assets of each Borrower and its
Subsidiaries (whether now owned or hereafter arising or acquired, tangible or intangible, real or personal), to create and perfect Liens in favor of Agent in any Real Property acquired by any Borrower or any other Loan Party with a fair market value
in excess of $1,000,000, and in order to fully consummate all of the transactions contemplated hereby and under the other Loan Documents; provided  

  
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that the foregoing shall not apply to any Subsidiary of a Borrower that is a CFC if providing such documents would result in adverse tax consequences or the costs to the Loan Parties of providing
such documents are unreasonably excessive (as determined by Agent in consultation with Borrowers) in relation to the benefits to Agent and the Lenders of the security afforded thereby. To the maximum extent permitted by applicable law, if any
Borrower or any other Loan Party refuses or fails to execute or deliver any reasonably requested Additional Documents within a reasonable period of time following the request to do so, each Borrower and each other Loan Party hereby authorizes Agent
to execute any such Additional Documents in the applicable Loan Party’s name and authorizes Agent to file such executed Additional Documents in any appropriate filing office. In furtherance of, and not in limitation of, the foregoing, each Loan
Party shall take such actions as Agent may reasonably request from time to time to ensure that the Obligations are guarantied by the Guarantors and are secured by substantially all of the assets of each Borrower and its Subsidiaries, including all
of the outstanding capital Equity Interests of each Borrower and its Subsidiaries (subject to exceptions and limitations contained in the Loan Documents with respect to CFCs). 

5.13 Lender Meetings. Borrowers will, within 90 days after the close of each fiscal year of Administrative Borrower, at the
request of Agent or of the Required Lenders and upon reasonable prior notice, hold a meeting (at a mutually agreeable location and time or, at the option of Agent, by conference call) with all Lenders who choose to attend such meeting at which
meeting shall be reviewed the financial results of the previous fiscal year and the financial condition of Borrowers and their Subsidiaries and the projections presented for the current fiscal year of Administrative Borrower. 

5.14 Compliance with ERISA and the IRC. In addition to and without limiting the generality of Section 5.8, (a) comply
in all material respects with applicable provisions of ERISA and the IRC with respect to all Employee Benefit Plans, (b) without the prior written consent of Agent and the Required Lenders, not take any action or fail to take action the result
of which could result in a Loan Party or ERISA Affiliate incurring a material liability to the PBGC or to a Multiemployer Plan (other than to pay contributions or premiums payable in the ordinary course), (c) allow any facts or circumstances to
exist with respect to one or more Employee Benefit Plans that, in the aggregate, reasonably could be expected to result in a Material Adverse Effect, (d) not participate in any prohibited transaction that could result in other than a de minimis
civil penalty excise tax, fiduciary liability or correction obligation under ERISA or the IRC, (e) operate each Employee Benefit Plan in such a manner that will not incur any material tax liability under the IRC (including Section 4980B of
the IRC), and (e) furnish to Agent upon Agent’s written request such additional information about any Employee Benefit Plan for which any Loan Party or ERISA Affiliate could reasonably expect to incur any material liability. With respect
to each Pension Plan (other than a Multiemployer Plan) except as could not reasonably be expected to result in liability to the Loan Parties, the Loan Parties and the ERISA Affiliates shall (i) satisfy in full and in a timely manner, without
incurring any late payment or underpayment charge or penalty and without giving rise to any Lien, all of the contribution and funding requirements of the IRC and of ERISA, and (ii) pay, or cause to be paid, to the PBGC in a timely manner,
without incurring any late payment or underpayment charge or penalty, all premiums required pursuant to ERISA. 
 5.15 Deposit
Accounts and Securities Accounts. From and after the date that is 90 days after the Closing Date or, if later, 10 days after the acquisition of any deposit account or securities account (as any such date may be extended by Agent),
maintain its primary Deposit Accounts and Securities Accounts of the Loan Parties and their Subsidiaries located in a jurisdiction in the United States (a) only at Wells Fargo or one or more of its Affiliates and (b) subject to a Control
Agreement or an equivalent agreement under applicable law. 
 6. NEGATIVE COVENANTS. 

Each Borrower covenants and agrees that, until termination of all of the Commitments and payment in full of the Obligations: 

6.1 Indebtedness. Each Borrower will not, and will not permit any of its Subsidiaries to create, incur, assume, suffer to exist,
guarantee, or otherwise become or remain, directly or indirectly, liable with respect to any Indebtedness, except for Permitted Indebtedness. 

  
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 6.2 Liens. Each Borrower will not, and will not permit any of its Subsidiaries to
create, incur, assume, or suffer to exist, directly or indirectly, any Lien on or with respect to any of its assets, of any kind, whether now owned or hereafter acquired, or any income or profits therefrom, except for Permitted Liens. 

6.3 Restrictions on Fundamental Changes. Each Borrower will not, and will not permit any of its Subsidiaries to, 

(a) Other than in order to consummate a Permitted Acquisition, enter into any merger, consolidation, reorganization, or recapitalization, or
reclassify its Equity Interests, except for (i) any merger between Loan Parties, provided, that a Borrower must be the surviving entity of any such merger to which it is a party, (ii) any merger between a Loan Party and a Subsidiary
of such Loan Party that is not a Loan Party so long as such Loan Party is the surviving entity of any such merger, and (iii) any merger between Subsidiaries of any Borrower that are not Loan Parties, 

(b) liquidate, wind up, or dissolve itself (or suffer any liquidation or dissolution), except for (i) the liquidation or dissolution of
non-operating Subsidiaries of any Borrower with nominal assets and nominal liabilities, (ii) the liquidation or dissolution of a Loan Party (other than any Borrower) or any of its wholly-owned Subsidiaries so long as all of the assets
(including any interest in any Equity Interests) of such liquidating or dissolving Loan Party or Subsidiary are transferred to a Loan Party that is not liquidating or dissolving, or (iii) the liquidation or dissolution of a Subsidiary of any
Borrower that is not a Loan Party (other than any such Subsidiary the Equity Interests of which (or any portion thereof) is subject to a Lien in favor of Agent) so long as all of the assets of such liquidating or dissolving Subsidiary are
transferred to a Subsidiary of a Borrower that is not liquidating or dissolving, or 
 (c) suspend or cease operating a substantial portion
of its or their business, except as permitted pursuant to clauses (a) or (b) above or in connection with a transaction permitted under Section 6.4. 

6.4 Disposal of Assets. Other than Permitted Dispositions or transactions expressly permitted by Sections 6.3 or
6.9, each Borrower will not, and will not permit any of its Subsidiaries to convey, sell, lease, license, assign, transfer, or otherwise dispose of (or enter into an agreement to convey, sell, lease, license, assign, transfer, or otherwise
dispose of) any of its or their assets. 
 6.5 Nature of Business. Each Borrower will not, and will not permit any of its
Subsidiaries to make any change in the nature of its or their business as described in Schedule 6.5 or acquire any properties or assets that are not reasonably related to the conduct of such business activities; provided, that the
foregoing shall not prevent any Borrower and its Subsidiaries from engaging in any business that is reasonably related or ancillary to its or their business. 

6.6 Prepayments and Amendments. Each Borrower will not, and will not permit any of its Subsidiaries to, 

(a) Except in connection with Refinancing Indebtedness permitted by Section 6.1 or in connection with a repayment of the Harbert
Capital Facility from the proceeds of an issuance of Equity Interests in the Administrative Borrower; 
 (i) optionally prepay, redeem,
defease, purchase, or otherwise acquire any Indebtedness of any Borrower or its Subsidiaries, other than (A) the Obligations in accordance with this Agreement, and (B) Permitted Intercompany Advances, or 

(ii) make any payment on account of Indebtedness that has been contractually subordinated in right of payment to the Obligations if such
payment is not permitted at such time under the subordination terms and conditions, or 

  
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 (b) Directly or indirectly, amend, modify, or change any of the terms or provisions of 

(i) any agreement, instrument, document, indenture, or other writing evidencing or concerning Permitted Indebtedness other than (A) the
Obligations in accordance with this Agreement, (B) Permitted Intercompany Advances, and (C) Indebtedness permitted under clauses (c), (h), (j) and (k) of the definition of Permitted Indebtedness, or

 (ii) the Governing Documents of any Loan Party or any of its Subsidiaries if the effect thereof, either individually or in the
aggregate, could reasonably be expected to be materially adverse to the interests of the Lenders. 
 6.7 Restricted Payments.
Each Borrower will not, and will not permit any of its Subsidiaries to make any Restricted Payment; provided, that, so long as it is permitted by law, and so long as no Default or Event of Default shall have occurred and be continuing or
would result therefrom, 
 (a) Administrative Borrower may make distributions to former employees, officers, or directors of Administrative
Borrower (or any spouses, ex-spouses, or estates of any of the foregoing) on account of redemptions of Equity Interests of Administrative Borrower held by such Persons, provided, that the aggregate amount of such redemptions made by
Administrative Borrower during the term of this Agreement plus the amount of Indebtedness outstanding under clause (l) of the definition of Permitted Indebtedness, does not exceed $250,000 in any fiscal year, 

(b) Administrative Borrower may make distributions to former employees, officers, or directors of Administrative Borrower (or any spouses,
ex-spouses, or estates of any of the foregoing), solely in the form of forgiveness of Indebtedness of such Persons owing to Administrative Borrower on account of repurchases of the Equity Interests of Administrative Borrower held by such Persons;
provided that such Indebtedness was incurred by such Persons solely to acquire Equity Interests of Administrative Borrower, and 

(c) Administrative Borrower may repay the Harbert Capital Facility solely from the proceeds of (i) an issuance of Equity Interests in the
Administrative Borrower and (ii) Refinancing Indebtedness. 
 6.8 Accounting Methods. Each Borrower will not, and will
not permit any of its Subsidiaries to modify or change its fiscal year or its method of accounting (other than as may be required to conform to GAAP). 

6.9 Investments. Each Borrower will not, and will not permit any of its Subsidiaries to, directly or indirectly, make or acquire
any Investment or incur any liabilities (including contingent obligations) for or in connection with any Investment except for Permitted Investments. 

6.10 Transactions with Affiliates. Each Borrower will not, and will not permit any of its Subsidiaries to, directly or
indirectly, enter into or permit to exist any transaction with any Affiliate of any Borrower or any of its Subsidiaries except for: 
 (a)
transactions between such Borrower or its Subsidiaries, on the one hand, and any Affiliate of such Borrower or its Subsidiaries, on the other hand, so long as such transactions (i) are fully disclosed to Agent prior to the consummation thereof,
if they involve one or more payments by any Borrower or its Subsidiaries in excess of $250,000 for any single transaction or series of related transactions, and (ii) are no less favorable, taken as a whole, to such Borrower or its Subsidiaries,
as applicable, than would be obtained in an arm’s length transaction with a non-Affiliate, 
 (b) so long as it has been approved by
such Borrower’s or its applicable Subsidiary’s Board of Directors in accordance with applicable law, any indemnity provided for the benefit of directors (or comparable managers) of such Borrower or its applicable Subsidiary, 

(c) so long as it has been approved by such Borrower’s or its applicable Subsidiary’s Board of Directors in accordance with
applicable law, the payment of reasonable compensation, severance, or employee benefit arrangements to employees, officers, and outside directors of such Borrower and its Subsidiaries in the ordinary course of business and consistent with industry
practice, and 

  
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 (d) transactions permitted by Section 6.3 or Section 6.9, or any
Permitted Intercompany Advance. 
 (e) any transaction fees associated with the Merger to the Sponsor so long as: 

(i) the total amount of such fees shall not exceed $600,000, 

(ii) (1) immediately prior to and immediately after giving effect to the payment of such transaction fees, no Default or Event of Default
shall have occurred and be continuing and (2) the Borrowers have delivered to the Agent, calculations in form and substance reasonably satisfactory to the Agent, demonstrating that immediately after giving effect to the payment of such
transaction fees, the Borrowers will be in pro forma compliance with the financial covenants set forth in Section 7, and 

(iii) (1) such payment is made on or after the date on which the financial statements for the quarter ending March 31, 2013 have been
delivered to the Agent in accordance with Section 5.1, and (2)(x) if such payment is made prior to June 30, 2013, after giving effect to such payment, the Administrative Borrower shall have Availability of at least $5,000,000
and (y) if such payment is made after June 30, 2013, after giving effect to such payment, the Administrative Borrower shall have Availability of at least $3,000,000. 

6.11 Use of Proceeds. Each Borrower will not, and will not permit any of its Subsidiaries to use the proceeds of any loan made
hereunder for any purpose other than (a) on the Closing Date, (i) to repay, in full, the outstanding principal, accrued interest, and accrued fees and expenses owing under or in connection with the Existing Credit Facility, (ii) to
pay a portion of the consideration payable in connection with the consummation of the Merger, and (iii) to pay the fees, costs, and expenses incurred in connection with this Agreement, the other Loan Documents, and the transactions contemplated
hereby and thereby, in each case, as set forth in the Funds Flow Agreement, and (b) thereafter, consistent with the terms and conditions hereof, for their lawful and permitted purposes (including that no part of the proceeds of the loans made
to Borrowers will be used to purchase or carry any such Margin Stock or to extend credit to others for the purpose of purchasing or carrying any such Margin Stock or for any purpose that violates the provisions of Regulation T, U or X of the Board
of Governors). 
 6.12 Limitation on Issuance of Equity Interests. Except for the issuance or sale of Qualified Equity
Interests by Administrative Borrower, each Borrower will not, and will not permit any of its Subsidiaries to, issue or sell or enter into any agreement or arrangement for the issuance or sale of any of its Equity Interests. 

6.13 Employee Benefits. 

(a) Terminate, or permit any ERISA Affiliate to terminate, any Pension Plan in a manner, or take any other action with respect to any Plan,
which could reasonably be expected to result in any liability of any Loan Party or ERISA Affiliate to the PBGC. 
 (b) Fail to make, or
permit any ERISA Affiliate to fail to make, full payment when due of all amounts which, under the provisions of any Benefit Plan, agreement relating thereto or applicable Law, any Loan Party or ERISA Affiliate is required to pay if such failure
could reasonably be expected to have a Material Adverse Effect. 
 (c) Permit to exist, or allow any ERISA Affiliate to permit to exist, any
accumulated funding deficiency within the meaning of section 302 of ERISA or section 412 of the Code, whether or not waived, with respect to any Plan which exceeds $250,000 with respect to all Pension Plans in the aggregate. 

(d) Acquire, or permit any ERISA Affiliate to acquire, an interest in any Person that causes such Person to become an ERISA Affiliate with
respect to a Loan Party or with respect to any ERISA Affiliate if such Person sponsors, maintains or contributes to, or at any time in the six-year period preceding such acquisition has sponsored, maintained, or contributed to, (i) any Pension
or (ii) any Multiemployer Plan. 

  
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 (e) Contribute to or assume an obligation to contribute to, or permit any ERISA Affiliate to
contribute to or assume an obligation to contribute to, any Multiemployer Plan not set forth on Schedule 4.11. 
 (f) Amend, or
permit any ERISA Affiliate to amend, a Pension Plan resulting in a material increase in current liability such that a Loan Party or ERISA Affiliate is required to provide security to such Plan under the IRC. 

6.14 Clean-Down. 

(a) At all times prior to February 15, 2013, each Borrower shall not permit the total amount of Revolving Loans outstanding to exceed
$4,000,000 at any time. 
 (b) After the Closing Date and prior to February 15, 2013, each Borrower shall not permit the total amount
of Revolving Loans outstanding to exceed $2,000,000 at any time. 
 (c) Commencing on February 15, 2013 prior to April 15, 2013,
each Borrower shall not permit the total amount of Revolving Loans outstanding to exceed $1,000,000 at any time. 
 (d) The Borrowers shall
repay all outstanding Revolving Loans on or prior to May 15, 2013. 
 (e) Commencing on the first day on or after April 15, 2013
on which the total amount of Revolving Loans outstanding is $0, and for a period of thirty (30) consecutive days thereafter (such 30-day period, the “Clean-down Period”), each Borrower shall not permit any Revolving Loans to be
outstanding. 
 (f) After the Closing Date, the Borrowers shall not be permitted to borrow any Revolving Loans until after the Clean-down
Period. Notwithstanding anything herein to the contrary, charges to the Loan Account (i) pursuant to Section 2.6(d)(i) shall not be a violation of this Section 6.14; provided, that such amounts are repaid on the
date such amounts are due, and (ii) pursuant to Section 2.6(d)(ii) shall not be a violation of this Section 6.14; provided, that, such amounts are repaid within three (3) Business Days. 

7. FINANCIAL COVENANTS. 
 Each Borrower
covenants and agrees that, until termination of all of the Commitments and payment in full of the Obligations, Borrowers will: 
 (a)
Fixed Charge Coverage Ratio. Have a Fixed Charge Coverage Ratio, measured on a quarter-end basis of no less than the applicable ratio set forth in the following table for the applicable period set forth opposite thereto: 

 

			
	 Applicable Ratio
	 	 Applicable Period

	1.25:1.00	 	For the three-month period
ending March 31, 2013
	1.25:1.00	 	For the six-month period
ending June 30, 2013
	1.25:1.00	 	For the nine-month period
ending September 30, 2013
	1.25:1.00	 	For the twelve-month period ending December 31,
2014, and each quarter thereafter

  
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 (b) Total Leverage Ratio. Have a Total Leverage Ratio, measured on a quarter-end basis, of
not greater than the applicable ratio set forth in the following table for the applicable date set forth opposite thereto: 
  

			
	 Applicable Ratio
	 	 Applicable Date

	4.00:1.00	 	March 31, 2013
	3.75:1.00	 	June 30, 2013
	3.50:1.00	 	September 30, 2013
	3.25: 1.00	 	December 31, 2013
	3.00:1.00	 	March 31, 2014
	2.75:1.00	 	June 30, 2014
	2.50:1.00	 	September 30, 2014
	2.25:1.00	 	December 31, 2014 and thereafter

 8. EVENTS OF DEFAULT. 

Any one or more of the following events shall constitute an event of default (each, an “Event of Default”) under this
Agreement: 
 8.1 Payments. If Borrowers fail to pay when due and payable, or when declared due and payable, (a) all or
any portion of the Obligations consisting of interest, fees, or charges due the Lender Group, reimbursement of Lender Group Expenses, or other amounts (other than any portion thereof constituting principal) constituting Obligations (including any
portion thereof that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), and such failure continues for a period of 3 Business
Days, (b) all or any portion of the principal of the Loans, or (c) any amount payable to Issuing Bank in reimbursement of any drawing under a Letter of Credit; 

  
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 8.2 Covenants. If any Loan Party or any of its Subsidiaries: 

(a) fails to perform or observe any covenant or other agreement contained in any of (i) Sections 3.6, 5.1, 5.2, 5.3
(solely if any Borrower is not in good standing in its jurisdiction of organization), 5.6, 5.7 (solely if any Borrower refuses to allow Agent or its representatives or agents to visit any Borrower’s properties, inspect its assets
or books or records, examine and make copies of its books and records, or discuss Borrowers’ affairs, finances, and accounts with officers and employees of any Borrower), 5.10, 5.11, 5.13, or 5.14 of this Agreement,
(ii) Section 6 of this Agreement, (iii) Section 7 of this Agreement, or (iv) Section 7 of the Guaranty and Security Agreement; 

(b) fails to perform or observe any covenant or other agreement contained in any of Sections 5.3 (other than if any Borrower is not in
good standing in its jurisdiction of organization), 5.4, 5.5, 5.8, and 5.12 of this Agreement and such failure continues for a period of 10 days after the earlier of (i) the date on which such failure shall first
become known to any officer of any Borrower or (ii) the date on which written notice thereof is given to Borrowers by Agent; or 
 (c)
fails to perform or observe any covenant or other agreement contained in this Agreement, or in any of the other Loan Documents, in each case, other than any such covenant or agreement that is the subject of another provision of this
Section 8 (in which event such other provision of this Section 8 shall govern), and such failure continues for a period of 30 days after the earlier of (i) the date on which such failure shall first become known to any
officer of any Borrower or (ii) the date on which written notice thereof is given to Borrowers by Agent; 
 8.3
Judgments. If one or more judgments, orders, or awards for the payment of money involving an aggregate amount of $250,000, or more (except to the extent fully covered (other than to the extent of customary deductibles) by insurance
pursuant to which the insurer has not denied coverage) is entered or filed against a Loan Party or any of its Subsidiaries, or with respect to any of their respective assets, and either (a) there is a period of 45 consecutive days at any time
after the entry of any such judgment, order, or award during which (1) the same is not discharged, satisfied, vacated, or bonded pending appeal, or (2) a stay of enforcement thereof is not in effect, or (b) enforcement proceedings are
commenced upon such judgment, order, or award; 
 8.4 Voluntary Bankruptcy, etc. If an Insolvency Proceeding is commenced by a
Loan Party or any of its Subsidiaries; 
 8.5 Involuntary Bankruptcy, etc. If an Insolvency Proceeding is commenced against a
Loan Party or any of its Subsidiaries and any of the following events occur: (a) such Loan Party or such Subsidiary consents to the institution of such Insolvency Proceeding against it, (b) the petition commencing the Insolvency Proceeding
is not timely controverted, (c) the petition commencing the Insolvency Proceeding is not dismissed within 60 calendar days of the date of the filing thereof, (d) an interim trustee is appointed to take possession of all or any substantial
portion of the properties or assets of, or to operate all or any substantial portion of the business of, such Loan Party or its Subsidiary, or (e) an order for relief shall have been issued or entered therein; 

8.6 Default Under Other Agreements. If there is (a) a default in one or more agreements to which a Loan Party or any of its
Subsidiaries is a party with one or more third Persons relative to a Loan Party’s or any of its Subsidiaries’ Indebtedness involving an aggregate amount of $250,000 or more, and such default (i) occurs at the final maturity of the
obligations thereunder, or (ii) results in a right by such third Person, irrespective of whether exercised, to accelerate the maturity of such Loan Party’s or its Subsidiary’s obligations thereunder, or (b) a default in or an
involuntary early termination of one or more Hedge Agreements to which a Loan Party or any of its Subsidiaries is a party involving an aggregate amount of $100,000 or more; 

8.7 Representations, etc. If any warranty, representation, certificate, statement, or Record made herein or in any other Loan
Document or delivered in writing to Agent or any Lender in connection with this Agreement or any other Loan Document proves to be untrue in any material respect (except that such materiality qualifier shall not be applicable to any representations
and warranties that already are qualified or modified by materiality in the text thereof) as of the date of issuance or making or deemed making thereof; 

  
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 8.8 Guaranty. If the obligation of any Guarantor under the guaranty contained in
the Guaranty and Security Agreement is limited or terminated by operation of law or by such Guarantor (other than in accordance with the terms of this Agreement); 

8.9 Security Documents. If the Guaranty and Security Agreement or any other Loan Document that purports to create a Lien, shall,
for any reason, fail or cease to create a valid and perfected and, except to the extent of Permitted Liens which are non-consensual Permitted Liens, permitted purchase money Liens or the interests of lessors under Capital Leases, first priority Lien
on the Collateral covered thereby, except (a) as a result of a disposition of the applicable Collateral in a transaction permitted under this Agreement, or (b) as the result of an action or failure to act on the part of Agent; 

8.10 Loan Documents. The validity or enforceability of any Loan Document shall at any time for any reason (other than solely as
the result of an action or failure to act on the part of Agent) be declared to be null and void, or a proceeding shall be commenced by a Loan Party or its Subsidiaries, or by any Governmental Authority having jurisdiction over a Loan Party or its
Subsidiaries, seeking to establish the invalidity or unenforceability thereof, or a Loan Party or its Subsidiaries shall deny that such Loan Party or its Subsidiaries has any liability or obligation purported to be created under any Loan Document;
or 
 8.11 Change of Control. A Change of Control shall occur. 

8.12 ERISA. The occurrence of any of the following events: (a) any Loan Party or ERISA Affiliate fails to make full payment
when due of all amounts which any Loan Party or ERISA Affiliate is required to pay as contributions, installments, or otherwise to or with respect to a Pension Plan or Multiemployer Plan, and such failure could reasonably be expected to result in
liability in excess of $250,000, (b) an accumulated funding deficiency or funding shortfall in excess of $250,000 occurs or exists, whether or not waived, with respect to any Pension Plan, individually or in the aggregate, (c) a
Notification Event, which could reasonably be expected to result in liability in excess of $250,000, either individually or in the aggregate, or (d) any Loan Party or ERISA Affiliate completely or partially withdraws from one or more
Multiemployer Plans and incurs Withdrawal Liability in excess of $250,000 in the aggregate, or fails to make any Withdrawal Liability payment when due. 

9. RIGHTS AND REMEDIES. 
 9.1
Rights and Remedies. Upon the occurrence and during the continuation of an Event of Default, Agent may, and, at the instruction of the Required Lenders, shall (in each case under clauses (a) or (b) by written notice to
Borrowers), in addition to any other rights or remedies provided for hereunder or under any other Loan Document or by applicable law, do any one or more of the following: 

(a) (i) declare the principal of, and any and all accrued and unpaid interest and fees in respect of, the Loans and all other Obligations
(other than the Bank Product Obligations), whether evidenced by this Agreement or by any of the other Loan Documents to be immediately due and payable, whereupon the same shall become and be immediately due and payable and Borrowers shall be
obligated to repay all of such Obligations in full, without presentment, demand, protest, or further notice or other requirements of any kind, all of which are hereby expressly waived by each Borrower, and (ii) direct Borrowers to provide (and
Borrowers agree that upon receipt of such notice Borrowers will provide) Letter of Credit Collateralization to Agent to be held as security for Borrowers’ reimbursement obligations for drawings that may subsequently occur under issued and
outstanding Letters of Credit; 
 (b) declare the Commitments terminated, whereupon the Commitments shall immediately be terminated together
with (i) any obligation of any Revolving Lender to make Revolving Loans, (ii) the obligation of the Swing Lender to make Swing Loans, and (iii) the obligation of Issuing Bank to issue Letters of Credit; and 

  
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 (c) exercise all other rights and remedies available to Agent or the Lenders under the Loan
Documents, under applicable law, or in equity; provided, that, with respect to any Event of Default resulting solely from failure of Borrowers to comply with the financial covenants set forth in Section 7, neither Agent nor the Required
Lenders may exercise the foregoing remedies in this Section 9.1 until the date that is the earlier of (1) 10 Business Days after the day on which financial statements are required to be delivered for the applicable fiscal quarter and
(2) the date that Agent receives notice that there will not be a Curative Equity contribution made for such fiscal quarter. 
 The foregoing to the
contrary notwithstanding, upon the occurrence of any Event of Default described in Section 8.4 or Section 8.5, in addition to the remedies set forth above, without any notice to Borrowers or any other Person or any act by the
Lender Group, the Commitments shall automatically terminate and the Obligations (other than the Bank Product Obligations), inclusive of the principal of, and any and all accrued and unpaid interest and fees in respect of, the Loans and all other
Obligations (other than the Bank Product Obligations), whether evidenced by this Agreement or by any of the other Loan Documents, shall automatically become and be immediately due and payable and Borrowers shall automatically be obligated to repay
all of such Obligations in full (including Borrowers being obligated to provide (and Borrowers agrees that they will provide) (1) Letter of Credit Collateralization to Agent to be held as security for Borrowers’ reimbursement obligations
in respect of drawings that may subsequently occur under issued and outstanding Letters of Credit, and (2) Bank Product Collateralization to be held as security for Borrowers’ or their Subsidiaries’ obligations in respect of
outstanding Bank Products), without presentment, demand, protest, or notice or other requirements of any kind, all of which are expressly waived by Borrowers. 

9.2 Remedies Cumulative. The rights and remedies of the Lender Group under this Agreement, the other Loan Documents, and all
other agreements shall be cumulative. The Lender Group shall have all other rights and remedies not inconsistent herewith as provided under the Code, by law, or in equity. No exercise by the Lender Group of one right or remedy shall be deemed an
election, and no waiver by the Lender Group of any Event of Default shall be deemed a continuing waiver. No delay by the Lender Group shall constitute a waiver, election, or acquiescence by it. 

9.3 Curative Equity. 

(a) Subject to the limitations set forth in clause (f) below, Borrowers may cure (and shall be deemed to have cured) an Event of Default
arising out of a breach of any of the financial covenants set forth in clauses (a) or (b) of Section 7 (the “Specified Financial Covenants”) if they receive the cash proceeds of an investment of Curative Equity
within 10 Business Days after the date that is the earlier to occur of (i) the date on which the Compliance Certificate is delivered to Agent in respect of the fiscal quarter with respect to which any such breach occurred and (ii) the date
on which the Compliance Certificate is required to be delivered to Agent pursuant to Section 5.1 in respect of the fiscal quarter with respect to which any such breach occurred; provided that Borrowers’ right to so cure an
Event of Default shall be contingent on their timely delivery of such Compliance Certificate as required under Section 5.1. 

(b) Borrowers shall promptly notify Agent of its receipt of any proceeds of Curative Equity (and shall immediately apply the same to the
payment of the Obligations in the manner specified in Section 2.4(e)(vii)). 
 (c) Any investment of Curative Equity shall be in
immediately available funds and, subject to the limitations set forth in clause (f) below, shall be in an amount that is sufficient to cause Borrowers to be in compliance with all of the Specified Financial Covenants as at the last day of the
most recently ended fiscal quarter, calculated for such purpose as if such amount of Curative Equity were additional EBITDA of Borrowers as at such date. 

  
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 (d) In the Compliance Certificate delivered pursuant to Section 5.1 in respect of the
fiscal quarter end on which Curative Equity is used to Borrowers shall (i) include evidence of their receipt of Curative Equity proceeds, and (ii) set forth a calculation of the financial results and balance sheet of Borrowers as at such
fiscal quarter end (including for such purposes the proceeds of such Curative Equity (broken out separately) as deemed EBITDA as if received on such date), which shall confirm that on a pro forma basis after taking into account the receipt of the
Curative Equity proceeds, Borrowers would have been in compliance with the Specified Financial Covenants as of such date. 
 (e) Upon
delivery of a Compliance Certificate pursuant to Section 5.1 conforming to the requirements of this Section, any Event of Default that occurred and is continuing as a result of a breach of any of the Specified Financial Covenants shall
be deemed cured with no further action required by the Required Lenders. Prior to the date of the delivery of a Compliance Certificate pursuant to Section 5.1 conforming to the requirements of this Section, any Event of Default that has
occurred as a result of a breach of any of the Specified Financial Covenants shall be deemed to be continuing and, as a result, the Lenders (including the Swing Lender and the Issuing Bank) shall have no obligation to make additional loans or
otherwise extend additional credit hereunder. In the event Borrowers do not cure all financial covenant violations as provided in this Section 9.3, the existing Event(s) of Default shall continue unless waived in writing by the Required
Lenders in accordance herewith. 
 (f) Notwithstanding the foregoing, Borrowers’ rights under this Section 9.3 may
(i) be exercised not more than 4 times during the term of this Agreement, (ii) not be exercised with respect to consecutive fiscal quarters, and (iii) not be exercised if the amount of the proposed investment of Curative Equity
exceeds (x) prior to the fiscal quarter ending September 30, 2013, the lesser of (A) 10% of EBITDA and (B) $1,000,000 and (y) after September 30, 2013, the lesser of (A) 10% of EBITDA and (B) $1,500,000. Any
amount of Curative Equity that is in excess of the amount sufficient to cause Borrowers to be in compliance with all of the Specified Financial Covenants as at such date shall not constitute Curative Equity. Curative Equity shall be disregarded for
purposes of determining EBITDA for any pricing, financial covenant based conditions or any baskets with respect to the covenants contained in this Agreement and there shall be no pro forma reduction in Indebtedness with the proceeds of any Curative
Equity for purposes of determining compliance with the Specified Financial Covenants or for determining any pricing, financial covenant based conditions or baskets with respect to the covenants contained in this Agreement, in each case in the
quarter in which such Curative Equity is used. 
 (g) To the extent that Curative Equity is received and included in the calculation of the
Specified Financial Covenants as deemed EBITDA for any fiscal quarter pursuant to this Section 9.3, such Curative Equity shall be deemed to be EBITDA for purposes of determining compliance with the Specified Financial Covenants for
subsequent periods that include such fiscal quarter. 
 10. WAIVERS; INDEMNIFICATION. 

10.1 Demand; Protest; etc. Each Borrower waives demand, protest, notice of protest, notice of default or dishonor, notice of
payment and nonpayment, nonpayment at maturity, release, compromise, settlement, extension, or renewal of documents, instruments, chattel paper, and guarantees at any time held by the Lender Group on which any Borrower may in any way be liable. 

10.2 The Lender Group’s Liability for Collateral. Each Borrower hereby agrees that: (a) so long as Agent complies with
its obligations, if any, under the Code, the Lender Group shall not in any way or manner be liable or responsible for: (i) the safekeeping of the Collateral, (ii) any loss or damage thereto occurring or arising in any manner or fashion
from any cause, (iii) any diminution in the value thereof, or (iv) any act or default of any carrier, warehouseman, bailee, forwarding agency, or other Person, and (b) all risk of loss, damage, or destruction of the Collateral shall
be borne by Borrowers. 
 10.3 Indemnification. Each Borrower shall pay, indemnify, defend, and hold the Agent-Related
Persons, the Lender-Related Persons, and each Participant (each, an “Indemnified Person”) harmless (to the 

  
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fullest extent permitted by law) from and against any and all claims, demands, suits, actions, investigations, proceedings, liabilities, fines, costs, penalties, and damages, and all reasonable,
documented fees and disbursements of attorneys, experts, or consultants and all other costs and expenses actually incurred in connection therewith or in connection with the enforcement of this indemnification (as and when they are incurred and
irrespective of whether suit is brought), at any time asserted against, imposed upon, or incurred by any of them (a) in connection with or as a result of or related to the execution and delivery (provided that Borrowers shall not be liable for
costs and expenses (including attorneys fees) of any Lender (other than Wells Fargo) incurred in advising, structuring, drafting, reviewing, administering or syndicating the Loan Documents), enforcement, performance, or administration (including any
restructuring or workout with respect hereto) of this Agreement, any of the other Loan Documents, or the transactions contemplated hereby or thereby or the monitoring of Borrowers’ and their Subsidiaries’ compliance with the terms of the
Loan Documents (provided, that the indemnification in this clause (a) shall not extend to (i) disputes solely between or among the Lenders that do not involve any acts or omissions of any Loan Party, or (ii) disputes
solely between or among the Lenders and their respective Affiliates that do not involve any acts or omissions of any Loan Party; it being understood and agreed that the indemnification in this clause (a) shall extend to Agent (but not the
Lenders) relative to disputes between or among Agent on the one hand, and one or more Lenders, or one or more of their Affiliates, on the other hand, or (iii) any Taxes or any costs attributable to Taxes, which shall be governed by
Section 16), (b) with respect to any actual or prospective investigation, litigation, or proceeding related to this Agreement, any other Loan Document, the making of any Loans or issuance of any Letters of Credit
hereunder, or the use of the proceeds of the Loans or the Letters of Credit provided hereunder (irrespective of whether any Indemnified Person is a party thereto), or any act, omission, event, or circumstance in any manner related thereto, and
(c) in connection with or arising out of any presence or release of Hazardous Materials at, on, under, to or from any assets or properties owned, leased or operated by any Borrower or any of its Subsidiaries or any Environmental Actions,
Environmental Liabilities or Remedial Actions related in any way to any such assets or properties of any Borrower or any of its Subsidiaries (each and all of the foregoing, the “Indemnified Liabilities”). The foregoing to the
contrary notwithstanding, no Borrower shall have any obligation to any Indemnified Person under this Section 10.3 with respect to any Indemnified Liability that a court of competent jurisdiction finally determines to have resulted from
the gross negligence or willful misconduct of such Indemnified Person or its officers, directors, employees, attorneys, or agents. This provision shall survive the termination of this Agreement and the repayment in full of the Obligations. If any
Indemnified Person makes any payment to any other Indemnified Person with respect to an Indemnified Liability as to which Borrowers were required to indemnify the Indemnified Person receiving such payment, the Indemnified Person making such payment
is entitled to be indemnified and reimbursed by Borrowers with respect thereto. WITHOUT LIMITATION, THE FOREGOING INDEMNITY SHALL APPLY TO EACH INDEMNIFIED PERSON WITH RESPECT TO INDEMNIFIED LIABILITIES WHICH IN WHOLE OR IN PART ARE CAUSED BY OR
ARISE OUT OF ANY NEGLIGENT ACT OR OMISSION OF SUCH INDEMNIFIED PERSON OR OF ANY OTHER PERSON. 

  
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 11. NOTICES. 

Unless otherwise provided in this Agreement, all notices or demands relating to this Agreement or any other Loan Document shall be in writing
and (except for financial statements and other informational documents which may be sent by first-class mail, postage prepaid) shall be personally delivered or sent by registered or certified mail (postage prepaid, return receipt requested),
overnight courier, electronic mail (at such email addresses as a party may designate in accordance herewith), or telefacsimile. In the case of notices or demands to any Borrower or Agent, as the case may be, they shall be sent to the respective
address set forth below: 
  

			
	If to any Borrower:	  	c/o Connecture, Inc.
		  	18500 W. Corporate Drive, Suite 250
		  	Brookfield, Wisconsin 53045
		  	Fax: (262) 432-0075
		
	with copies to:	  	DLA Piper LLP (US)
		  	1201 West Peachtree Street NW, Suite 2800
		  	Atlanta, Georgia 30309
		  	Fax: (404) 682-7854
		  	Attention: Joseph G. Silver
		
	If to Agent:	  	WELLS FARGO BANK, NATIONAL ASSOCIATION
		  	One Boston Place, 18th Floor
		  	Boston, MA 02108
		  	Attn: Technology Finance Portfolio Manager
		  	Fax No.: 855-842-6367
		
	with copies to:	  	Morgan, Lewis & Bockius LLP
		  	101 Park Avenue
		  	New York, NY 10178
		  	Attn: Marshall Stoddard, Esq.
		  	Fax No.: 212-309-6001

 Any party hereto may change the address at which they are to receive notices hereunder, by notice in
writing in the foregoing manner given to the other party. All notices or demands sent in accordance with this Section 11, shall be deemed received on the earlier of the date of actual receipt or 3 Business Days after the deposit thereof
in the mail; provided, that (a) notices sent by overnight courier service shall be deemed to have been given when received, (b) notices by facsimile shall be deemed to have been given when sent (except that, if not given during
normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient) and (c) notices by electronic mail shall be deemed received upon the sender’s receipt of an
acknowledgment from the intended recipient (such as by the “return receipt requested” function, as available, return email or other written acknowledgment). 

12. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER; JUDICIAL REFERENCE PROVISION. 

(a) THE VALIDITY OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT IN
RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, THE RIGHTS OF THE PARTIES HERETO AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO, AND
ANY CLAIMS, CONTROVERSIES OR DISPUTES ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 

(b) THE PARTIES AGREE THAT ALL ACTIONS OR PROCEEDINGS ARISING IN CONNECTION WITH THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS SHALL BE TRIED
AND LITIGATED ONLY IN THE STATE AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, FEDERAL COURTS LOCATED IN THE COUNTY OF NEW YORK, STATE OF NEW YORK; PROVIDED, THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY COLLATERAL OR OTHER PROPERTY MAY BE
BROUGHT, AT AGENT’S OPTION, IN THE 

  
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COURTS OF ANY JURISDICTION WHERE AGENT ELECTS TO BRING SUCH ACTION OR WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP WAIVE, TO THE EXTENT
PERMITTED UNDER APPLICABLE LAW, ANY RIGHT EACH MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTENT ANY PROCEEDING IS BROUGHT IN ACCORDANCE WITH THIS SECTION 12(b). 

(c) TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP HEREBY WAIVE THEIR RESPECTIVE
RIGHTS, IF ANY, TO A JURY TRIAL OF ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY BASED UPON OR ARISING OUT OF ANY OF THE LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT
CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS (EACH A “CLAIM”). EACH BORROWER AND EACH MEMBER OF THE LENDER GROUP REPRESENT THAT EACH HAS REVIEWED THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY
TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

(d) EACH BORROWER HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN
THE COUNTY OF NEW YORK AND THE STATE OF NEW YORK, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENTS, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH
ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT AGENT MAY OTHERWISE
HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST ANY LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(e) NO CLAIM MAY BE MADE BY ANY LOAN PARTY AGAINST THE AGENT, THE SWING LENDER, ANY OTHER LENDER, ISSUING BANK, OR ANY AFFILIATE, DIRECTOR,
OFFICER, EMPLOYEE, COUNSEL, REPRESENTATIVE, AGENT, OR ATTORNEY-IN-FACT OF ANY OF THEM FOR ANY SPECIAL, INDIRECT, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES OR LOSSES IN RESPECT OF ANY CLAIM FOR BREACH OF CONTRACT OR ANY OTHER THEORY OF LIABILITY
ARISING OUT OF OR RELATED TO THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR ANY ACT, OMISSION, OR EVENT OCCURRING IN CONNECTION THEREWITH, AND EACH LOAN PARTY HEREBY WAIVES, RELEASES, AND AGREES NOT TO SUE UPON ANY
CLAIM FOR SUCH DAMAGES, WHETHER OR NOT ACCRUED AND WHETHER OR NOT KNOWN OR SUSPECTED TO EXIST IN ITS FAVOR. 

  
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 13. ASSIGNMENTS AND PARTICIPATIONS; SUCCESSORS. 

13.1 Assignments and Participations. 

(a) (i) Subject to the conditions set forth in clause (a)(ii) below, any Lender may assign and delegate all or any portion of its rights and
duties under the Loan Documents (including the Obligations owed to it and its Commitments) to one or more assignees (each, an “Assignee”), with the prior written consent (such consent not be unreasonably withheld or delayed) of:

 (A) Borrowers; provided, that no consent of Borrowers shall be required (1) if an Event of Default has occurred and is
continuing or (2) in connection with an assignment to a Person that is a Lender or an Affiliate (other than natural persons) of a Lender; provided further, that Borrowers shall be deemed to have consented to a proposed assignment unless
they object thereto by written notice to Agent within 5 Business Days after having received notice thereof; and 
 (B) Agent, Swing Lender,
and Issuing Bank. 
 (ii) Assignments shall be subject to the following additional conditions: 

(A) no assignment may be made to a natural person, 

(B) no assignment may be made to a Loan Party, an Affiliate of a Loan Party, or any Sponsor Affiliated Entity, 

(C) the amount of the Commitments and the other rights and obligations of the assigning Lender hereunder and under the other Loan Documents
subject to each such assignment (determined as of the date the Assignment and Acceptance with respect to such assignment is delivered to Agent) shall be in a minimum amount (unless waived by Agent) of $5,000,000 (except such minimum amount shall not
apply to (I) an assignment or delegation by any Lender to any other Lender, an Affiliate of any Lender, or a Related Fund of such Lender or (II) a group of new Lenders, each of which is an Affiliate of each other or a Related Fund of such new
Lender to the extent that the aggregate amount to be assigned to all such new Lenders is at least $5,000,000), 
 (D) each partial
assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement, 

(E) the parties to each assignment shall execute and deliver to Agent an Assignment and Acceptance; provided, that Borrowers and Agent
may continue to deal solely and directly with the assigning Lender in connection with the interest so assigned to an Assignee until written notice of such assignment, together with payment instructions, addresses, and related information with
respect to the Assignee, have been given to Borrowers and Agent by such Lender and the Assignee, 
 (F) unless waived by Agent, the
assigning Lender or Assignee has paid to Agent, for Agent’s separate account, a processing fee in the amount of $3,500, and 
 (G) the
assignee, if it is not a Lender, shall deliver to Agent an Administrative Questionnaire in a form approved by Agent (the “Administrative Questionnaire”). 

(b) From and after the date that Agent receives the executed Assignment and Acceptance and, if applicable, payment of the required processing
fee, (i) the Assignee thereunder shall be a party hereto and, to the extent that rights and obligations hereunder have been assigned to it pursuant to such Assignment and Acceptance, shall be a “Lender” and shall have the rights and
obligations of a Lender under the Loan Documents, and (ii) the assigning Lender shall, to the extent that rights and obligations hereunder and under the other Loan Documents have been assigned by it pursuant to such Assignment and Acceptance,
relinquish its rights (except with respect to Section 10.3) and be released from any future obligations under this Agreement (and in the case of an Assignment and Acceptance covering all or the remaining portion of an assigning
Lender’s rights and obligations under this Agreement and the other Loan Documents, such Lender shall cease to be a party hereto and thereto); provided, that nothing contained herein shall release any assigning Lender from obligations
that survive the termination of this Agreement, including such assigning Lender’s obligations under Section 15 and Section 17.9(a). 

(c) By executing and delivering an Assignment and Acceptance, the assigning Lender thereunder and the Assignee thereunder confirm to and agree
with each other and the other parties hereto as 

  
 - 50 - 

 
follows: (i) other than as provided in such Assignment and Acceptance, such assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with this Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement or any other Loan Document furnished pursuant hereto, (ii) such
assigning Lender makes no representation or warranty and assumes no responsibility with respect to the financial condition of any Borrower or the performance or observance by any Borrower of any of its obligations under this Agreement or any other
Loan Document furnished pursuant hereto, (iii) such Assignee confirms that it has received a copy of this Agreement, together with such other documents and information as it has deemed appropriate to make its own credit analysis and decision to
enter into such Assignment and Acceptance, (iv) such Assignee will, independently and without reliance upon Agent, such assigning Lender or any other Lender, and based on such documents and information as it shall deem appropriate at the time,
continue to make its own credit decisions in taking or not taking action under this Agreement, (v) such Assignee appoints and authorizes Agent to take such actions and to exercise such powers under this Agreement and the other Loan Documents as
are delegated to Agent, by the terms hereof and thereof, together with such powers as are reasonably incidental thereto, and (vi) such Assignee agrees that it will perform all of the obligations which by the terms of this Agreement are required
to be performed by it as a Lender. 
 (d) Immediately upon Agent’s receipt of the required processing fee, if applicable, and delivery
of notice to the assigning Lender pursuant to Section 13.1(b), this Agreement shall be deemed to be amended to the extent, but only to the extent, necessary to reflect the addition of the Assignee and the resulting adjustment of the
Commitments arising therefrom. The Commitment allocated to each Assignee shall reduce such Commitments of the assigning Lender pro tanto. 

(e) Any Lender may at any time sell to one or more commercial banks, financial institutions, or other Persons (a
“Participant”) participating interests in all or any portion of its Obligations, its Commitment, and the other rights and interests of that Lender (the “Originating Lender”) hereunder and under the other Loan
Documents; provided, that (i) the Originating Lender shall remain a “Lender” for all purposes of this Agreement and the other Loan Documents and the Participant receiving the participating interest in the Obligations, the
Commitments, and the other rights and interests of the Originating Lender hereunder shall not constitute a “Lender” hereunder or under the other Loan Documents and the Originating Lender’s obligations under this Agreement shall remain
unchanged, (ii) the Originating Lender shall remain solely responsible for the performance of such obligations, (iii) Borrowers, Agent, and the Lenders shall continue to deal solely and directly with the Originating Lender in connection
with the Originating Lender’s rights and obligations under this Agreement and the other Loan Documents, (iv) no Lender shall transfer or grant any participating interest under which the Participant has the right to approve any amendment
to, or any consent or waiver with respect to, this Agreement or any other Loan Document, except to the extent such amendment to, or consent or waiver with respect to this Agreement or of any other Loan Document would (A) extend the final
maturity date of the Obligations hereunder in which such Participant is participating, (B) reduce the interest rate applicable to the Obligations hereunder in which such Participant is participating, (C) release all or substantially all of
the Collateral or guaranties (except to the extent expressly provided herein or in any of the Loan Documents) supporting the Obligations hereunder in which such Participant is participating, (D) postpone the payment of, or reduce the amount of,
the interest or fees payable to such Participant through such Lender (other than a waiver of default interest), or (E) decreases the amount or postpones the due dates of scheduled principal repayments or prepayments or premiums payable to such
Participant through such Lender, (v) no participation shall be sold to a natural person, (vi) no participation shall be sold to a Loan Party, an Affiliate of a Loan Party, or any Sponsor Affiliated Entity, and (vii) all amounts
payable by Borrowers hereunder shall be determined as if such Lender had not sold such participation, except that, if amounts outstanding under this Agreement are due and unpaid, or shall have been declared or shall have become due and payable upon
the occurrence of an Event of Default, each Participant shall be deemed to have the right of set off in respect of its participating interest in amounts owing under this Agreement to the same extent as if the amount of its participating interest
were owing directly to it as a Lender under this Agreement. The rights of any Participant only shall be derivative through the Originating Lender with whom such Participant participates and no Participant shall have any rights under this Agreement
or the other Loan Documents or any direct rights as to the other Lenders, Agent, Borrowers, the Collateral, or otherwise in respect of the Obligations. No Participant shall have the right to participate directly in the making of decisions by the
Lenders among themselves. 

  
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 (f) In connection with any such assignment or participation or proposed assignment or
participation or any grant of a security interest in, or pledge of, its rights under and interest in this Agreement, a Lender may, subject to the provisions of Section 17.9, disclose all documents and information which it now or
hereafter may have relating to any Borrower and its Subsidiaries and their respective businesses. 
 (g) Any other provision in this
Agreement notwithstanding, any Lender may at any time create a security interest in, or pledge, all or any portion of its rights under and interest in this Agreement in favor of any Federal Reserve Bank in accordance with Regulation A of the Federal
Reserve Bank or U.S. Treasury Regulation 31 CFR §203.24, and such Federal Reserve Bank may enforce such pledge or security interest in any manner permitted under applicable law. 

(h) Agent (as a non-fiduciary agent on behalf of Borrowers) shall maintain, or cause to be maintained, a register (the
“Register”) on which it enters the name and address of each Lender as the registered owner of the Term Loan (and the principal amount thereof and stated interest thereon) held by such Lender (each, a “Registered
Loan”). Other than in connection with an assignment by a Lender of all or any portion of its portion of the Term Loan to an Affiliate of such Lender or a Related Fund of such Lender (i) a Registered Loan (and the registered note, if
any, evidencing the same) may be assigned or sold in whole or in part only by registration of such assignment or sale on the Register (and each registered note shall expressly so provide) and (ii) any assignment or sale of all or part of such
Registered Loan (and the registered note, if any, evidencing the same) may be effected only by registration of such assignment or sale on the Register, together with the surrender of the registered note, if any, evidencing the same duly endorsed by
(or accompanied by a written instrument of assignment or sale duly executed by) the holder of such registered note, whereupon, at the request of the designated assignee(s) or transferee(s), one or more new registered notes in the same aggregate
principal amount shall be issued to the designated assignee(s) or transferee(s). Prior to the registration of assignment or sale of any Registered Loan (and the registered note, if any evidencing the same), Borrowers shall treat the Person in whose
name such Registered Loan (and the registered note, if any, evidencing the same) is registered as the owner thereof for the purpose of receiving all payments thereon and for all other purposes, notwithstanding notice to the contrary. In the case of
any assignment by a Lender of all or any portion of its Term Loan to an Affiliate of such Lender or a Related Fund of such Lender, and which assignment is not recorded in the Register, the assigning Lender, on behalf of Borrowers, shall maintain a
register comparable to the Register. 
 (i) In the event that a Lender sells participations in the Registered Loan, such Lender, as a
non-fiduciary agent on behalf of Borrowers, shall maintain (or cause to be maintained) a register on which it enters the name of all participants in the Registered Loans held by it (and the principal amount (and stated interest thereon) of the
portion of such Registered Loans that is subject to such participations) (the “Participant Register”). A Registered Loan (and the Registered Note, if any, evidencing the same) may be participated in whole or in part only by
registration of such participation on the Participant Register (and each registered note shall expressly so provide). Any participation of such Registered Loan (and the registered note, if any, evidencing the same) may be effected only by the
registration of such participation on the Participant Register. 
 (j) Agent shall make a copy of the Register (and each Lender shall make a
copy of its Participant Register in the extent it has one) available for review by Borrowers from time to time as Borrowers may reasonably request. 

13.2 Successors. This Agreement shall bind and inure to the benefit of the respective successors and assigns of each of the
parties; provided, that no Borrower may assign this Agreement or any rights or duties hereunder without the Lenders’ prior written consent and any prohibited assignment shall be absolutely void ab initio. No consent to assignment
by the Lenders shall release any Borrower from its Obligations. A Lender may assign this Agreement and the other Loan Documents and its rights and duties hereunder and thereunder pursuant to Section 13.1 and, except as expressly required
pursuant to Section 13.1, no consent or approval by any Borrower is required in connection with any such assignment. 

  
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 14. AMENDMENTS; WAIVERS. 

14.1 Amendments and Waivers. 

(a) No amendment, waiver or other modification of any provision of this Agreement or any other Loan Document (other than Bank Product
Agreements or the Fee Letter), and no consent with respect to any departure by any Borrower therefrom, shall be effective unless the same shall be in writing and signed by the Required Lenders (or by Agent at the written request of the Required
Lenders) and the Loan Parties that are party thereto and then any such waiver or consent shall be effective, but only in the specific instance and for the specific purpose for which given; provided, that no such waiver, amendment, or consent
shall, unless in writing and signed by all of the Lenders directly affected thereby and all of the Loan Parties that are party thereto, do any of the following: 

(i) increase the amount of or extend the expiration date of any Commitment of any Lender or amend, modify, or eliminate the last sentence of
Section 2.4(c)(i), 
 (ii) postpone or delay any date fixed by this Agreement or any other Loan Document for any payment of
principal, interest, fees, or other amounts due hereunder or under any other Loan Document, 
 (iii) reduce the principal of, or the rate
of interest on, any loan or other extension of credit hereunder, or reduce any fees or other amounts payable hereunder or under any other Loan Document (except (y) in connection with the waiver of applicability of Section 2.6(c)
(which waiver shall be effective with the written consent of the Required Lenders), and (z) that any amendment or modification of defined terms used in the financial covenants in this Agreement shall not constitute a reduction in the rate of
interest or a reduction of fees for purposes of this clause (iii)), 
 (iv) amend, modify, or eliminate this Section or any provision of
this Agreement providing for consent or other action by all Lenders, 
 (v) amend, modify, or eliminate Section 3.1 or
3.2, 
 (vi) amend, modify, or eliminate Section 15.11, 

(vii) other than as permitted by Section 15.11, release Agent’s Lien in and to any of the Collateral, 

(viii) amend, modify, or eliminate the definitions of “Required Lenders” or “Pro Rata Share”, 

(ix) contractually subordinate any of Agent’s Liens, 

(x) other than in connection with a merger, liquidation, dissolution or sale of such Person expressly permitted by the terms hereof or the
other Loan Documents, release any Borrower or any Guarantor from any obligation for the payment of money or consent to the assignment or transfer by any Borrower or any Guarantor of any of its rights or duties under this Agreement or the other Loan
Documents, or 
 (xi) amend, modify, or eliminate any of the provisions of Section 2.4(b)(i) or (ii) or
Section 2.4(e) or (f), or 

  
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 (b) No amendment, waiver, modification, or consent shall amend, modify, waive, or eliminate, 

(i) the definition of, or any of the terms or provisions of, the Fee Letter, without the written consent of Agent and Borrowers (and shall
not require the written consent of any of the Lenders), 
 (ii) any provision of Section 15 pertaining to Agent, or any other
rights or duties of Agent under this Agreement or the other Loan Documents, without the written consent of Agent, Borrowers, and the Required Lenders; 

(c) No amendment, waiver, modification, elimination, or consent shall amend, modify, or waive any provision of this Agreement or the other
Loan Documents pertaining to Issuing Bank, or any other rights or duties of Issuing Bank under this Agreement or the other Loan Documents, without the written consent of Issuing Bank, Agent, Borrowers, and the Required Lenders; 

(d) No amendment, waiver, modification, elimination, or consent shall amend, modify, or waive any provision of this Agreement or the other
Loan Documents pertaining to Swing Lender, or any other rights or duties of Swing Lender under this Agreement or the other Loan Documents, without the written consent of Swing Lender, Agent, Borrowers, and the Required Lenders; and 

(e) Anything in this Section 14.1 to the contrary notwithstanding, (i) any amendment, modification, elimination, waiver,
consent, termination, or release of, or with respect to, any provision of this Agreement or any other Loan Document that relates only to the relationship of the Lender Group among themselves, and that does not affect the rights or obligations of any
Borrower, shall not require consent by or the agreement of any Loan Party, and (ii) any amendment, waiver, modification, elimination, or consent of or with respect to any provision of this Agreement or any other Loan Document may be entered
into without the consent of, or over the objection of, any Defaulting Lender other than any of the matters governed by Section 14.1(a)(i) through (iii) that affect such Lender. 

14.2 Replacement of Certain Lenders. 

(a) If (i) any action to be taken by the Lender Group or Agent hereunder requires the consent, authorization, or agreement of all
Lenders or all Lenders affected thereby and if such action has received the consent, authorization, or agreement of the Required Lenders but not of all Lenders or all Lenders affected thereby, or (ii) any Lender makes a claim for compensation
under Section 16, then Borrowers or Agent, upon at least 5 Business Days prior irrevocable notice, may permanently replace any Lender that failed to give its consent, authorization, or agreement (a “Non-Consenting
Lender”) or any Defaulting Lender or any Lender that made a claim for compensation (a “Tax Lender”) with one or more Replacement Lenders, and the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, shall
have no right to refuse to be replaced hereunder. Such notice to replace the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, shall specify an effective date for such replacement, which date shall not be later than 15 Business
Days after the date such notice is given. 
 (b) Prior to the effective date of such replacement, the Non-Consenting Lender, Defaulting
Lender or Tax Lender, as applicable, and each Replacement Lender shall execute and deliver an Assignment and Acceptance, subject only to the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, being repaid in full its share of the
outstanding Obligations (without any premium or penalty of any kind whatsoever, but including (i) all interest, fees and other amounts that may be due in payable in respect thereof, and (ii) an assumption of its Pro Rata Share of
participations in the Letters of Credit). If the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, shall refuse or fail to execute and deliver any such Assignment and Acceptance prior to the effective date of such replacement,
Agent may, but shall not be required to, execute and deliver such Assignment and Acceptance in the name or and on behalf of the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, and irrespective of whether Agent executes and
delivers such Assignment and Acceptance, the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, shall be deemed to have executed and delivered such Assignment and Acceptance. The replacement of any Non-Consenting Lender,
Defaulting Lender or Tax Lender, as applicable, shall be made in accordance with the terms of Section 13.1. Until such time as one or more Replacement Lenders shall have acquired all of the Obligations,

  
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the Commitments, and the other rights and obligations of the Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, hereunder and under the other Loan Documents, the
Non-Consenting Lender, Defaulting Lender or Tax Lender, as applicable, shall remain obligated to make the Non-Consenting Lender’s, Defaulting Lender’s or Tax Lender’s, as applicable, Pro Rata Share of Revolving Loans and to purchase a
participation in each Letter of Credit, in an amount equal to its Pro Rata Share of participations in such Letters of Credit. 
 14.3
No Waivers; Cumulative Remedies. No failure by Agent or any Lender to exercise any right, remedy, or option under this Agreement or any other Loan Document, or delay by Agent or any Lender in exercising the same, will operate as a
waiver thereof. No waiver by Agent or any Lender will be effective unless it is in writing, and then only to the extent specifically stated. No waiver by Agent or any Lender on any occasion shall affect or diminish Agent’s and each
Lender’s rights thereafter to require strict performance by Borrowers of any provision of this Agreement. Agent’s and each Lender’s rights under this Agreement and the other Loan Documents will be cumulative and not exclusive of any
other right or remedy that Agent or any Lender may have. 
 15. AGENT; THE LENDER GROUP. 

15.1 Appointment and Authorization of Agent. Each Lender hereby designates and appoints Wells Fargo as its agent under this
Agreement and the other Loan Documents and each Lender hereby irrevocably authorizes (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to designate, appoint, and authorize) Agent to execute and deliver each
of the other Loan Documents on its behalf and to take such other action on its behalf under the provisions of this Agreement and each other Loan Document and to exercise such powers and perform such duties as are expressly delegated to Agent by the
terms of this Agreement or any other Loan Document, together with such powers as are reasonably incidental thereto. Agent agrees to act as agent for and on behalf of the Lenders (and the Bank Product Providers) on the conditions contained in this
Section 15. Any provision to the contrary contained elsewhere in this Agreement or in any other Loan Document notwithstanding, Agent shall not have any duties or responsibilities, except those expressly set forth herein or in the other
Loan Documents, nor shall Agent have or be deemed to have any fiduciary relationship with any Lender (or Bank Product Provider), and no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this
Agreement or any other Loan Document or otherwise exist against Agent. Without limiting the generality of the foregoing, the use of the term “agent” in this Agreement or the other Loan Documents with reference to Agent is not intended to
connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead, such term is used merely as a matter of market custom, and is intended to create or reflect only a representative
relationship between independent contracting parties. Each Lender hereby further authorizes (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to authorize) Agent to act as the secured party under each of the
Loan Documents that create a Lien on any item of Collateral. Except as expressly otherwise provided in this Agreement, Agent shall have and may use its sole discretion with respect to exercising or refraining from exercising any discretionary rights
or taking or refraining from taking any actions that Agent expressly is entitled to take or assert under or pursuant to this Agreement and the other Loan Documents. Without limiting the generality of the foregoing, or of any other provision of the
Loan Documents that provides rights or powers to Agent, Lenders agree that Agent shall have the right to exercise the following powers as long as this Agreement remains in effect: (a) maintain, in accordance with its customary business
practices, ledgers and records reflecting the status of the Obligations, the Collateral, payments and proceeds of Collateral, and related matters, (b) execute or file any and all financing or similar statements or notices, amendments, renewals,
supplements, documents, instruments, proofs of claim, notices and other written agreements with respect to the Loan Documents, (c) make Revolving Loans, for itself or on behalf of Lenders, as provided in the Loan Documents, (d) exclusively
receive, apply, and distribute payments and proceeds of the Collateral as provided in the Loan Documents, (e) open and maintain such bank accounts and cash management arrangements as Agent deems necessary and appropriate in accordance with the
Loan Documents for the foregoing purposes, (f) perform, exercise, and enforce any and all other rights and remedies of the Lender Group with respect to any Borrower or its Subsidiaries, the Obligations, the Collateral, or otherwise related to
any of same as provided in the Loan Documents, and (g) incur and pay such Lender Group Expenses as Agent may deem necessary or appropriate for the performance and fulfillment of its functions and powers pursuant to the Loan Documents. 

  
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 15.2 Delegation of Duties. Agent may execute any of its duties under this Agreement
or any other Loan Document by or through agents, employees or attorneys in fact and shall be entitled to advice of counsel concerning all matters pertaining to such duties. Agent shall not be responsible for the negligence or misconduct of any agent
or attorney in fact that it selects as long as such selection was made without gross negligence or willful misconduct. 
 15.3
Liability of Agent. None of the Agent-Related Persons shall (a) be liable for any action taken or omitted to be taken by any of them under or in connection with this Agreement or any other Loan Document or the transactions
contemplated hereby (except for its own gross negligence or willful misconduct), or (b) be responsible in any manner to any of the Lenders (or Bank Product Providers) for any recital, statement, representation or warranty made by any Borrower
or any of its Subsidiaries or Affiliates, or any officer or director thereof, contained in this Agreement or in any other Loan Document, or in any certificate, report, statement or other document referred to or provided for in, or received by Agent
under or in connection with, this Agreement or any other Loan Document, or the validity, effectiveness, genuineness, enforceability or sufficiency of this Agreement or any other Loan Document, or for any failure of any Borrower or its Subsidiaries
or any other party to any Loan Document to perform its obligations hereunder or thereunder. No Agent-Related Person shall be under any obligation to any Lenders (or Bank Product Providers) to ascertain or to inquire as to the observance or
performance of any of the agreements contained in, or conditions of, this Agreement or any other Loan Document, or to inspect the books and records or properties of any Borrower or its Subsidiaries. 

15.4 Reliance by Agent. Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution,
notice, consent, certificate, affidavit, letter, telegram, telefacsimile or other electronic method of transmission, telex or telephone message, statement or other 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 counsel to Borrowers or counsel to any Lender), independent accountants and other experts selected by Agent. Agent shall be fully
justified in failing or refusing to take any action under this Agreement or any other Loan Document unless Agent shall first receive such advice or concurrence of the Lenders as it deems appropriate and until such instructions are received, Agent
shall act, or refrain from acting, as it deems advisable. If Agent so requests, it shall first be indemnified to its reasonable satisfaction by the Lenders (and, if it so elects, the Bank Product Providers) against any and all liability and expense
that may be incurred by it by reason of taking or continuing to take any such action. Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request
or consent of the Required Lenders and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Lenders (and Bank Product Providers). 

15.5 Notice of Default or Event of Default. Agent shall not be deemed to have knowledge or notice of the occurrence of any
Default or Event of Default, except with respect to defaults in the payment of principal, interest, fees, and expenses required to be paid to Agent for the account of the Lenders and, except with respect to Events of Default of which Agent has
actual knowledge, unless Agent shall have received written notice from a Lender or Borrowers referring to this Agreement, describing such Default or Event of Default, and stating that such notice is a “notice of default.” Agent promptly
will notify the Lenders of its receipt of any such notice or of any Event of Default of which Agent has actual knowledge. If any Lender obtains actual knowledge of any Event of Default, such Lender promptly shall notify the other Lenders and Agent
of such Event of Default. Each Lender shall be solely responsible for giving any notices to its Participants, if any. Subject to Section 15.4, Agent shall take such action with respect to such Default or Event of Default as may be
requested by the Required Lenders in accordance with Section 9; provided, that unless and until Agent has received any such request, Agent may (but shall not be obligated to) take such action, or refrain from taking such action,
with respect to such Default or Event of Default as it shall deem advisable. 

  
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 15.6 Credit Decision. Each Lender (and Bank Product Provider) acknowledges that
none of the Agent-Related Persons has made any representation or warranty to it, and that no act by Agent hereinafter taken, including any review of the affairs of any Borrower and its Subsidiaries or Affiliates, shall be deemed to constitute any
representation or warranty by any Agent-Related Person to any Lender (or Bank Product Provider). Each Lender represents (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to represent) to Agent that it has,
independently and without reliance upon any Agent-Related Person and based on such due diligence, documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, prospects, operations, property,
financial and other condition and creditworthiness of each Borrower or any other Person party to a Loan Document, and all applicable bank regulatory laws relating to the transactions contemplated hereby, and made its own decision to enter into this
Agreement and to extend credit to Borrowers. Each Lender also represents (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to represent) that it will, independently and without reliance upon any Agent-Related
Person and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under this Agreement and the other Loan Documents, and to
make such investigations as it deems necessary to inform itself as to the business, prospects, operations, property, financial and other condition and creditworthiness of each Borrower or any other Person party to a Loan Document. Except for
notices, reports, and other documents expressly herein required to be furnished to the Lenders by Agent, Agent shall not have any duty or responsibility to provide any Lender (or Bank Product Provider) with any credit or other information concerning
the business, prospects, operations, property, financial and other condition or creditworthiness of any Borrower or any other Person party to a Loan Document that may come into the possession of any of the Agent-Related Persons. Each Lender
acknowledges (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that Agent does not have any duty or responsibility, either initially or on a continuing basis (except to the extent, if any,
that is expressly specified herein) to provide such Lender (or Bank Product Provider) with any credit or other information with respect to any Borrower, its Affiliates or any of their respective business, legal, financial or other affairs, and
irrespective of whether such information came into Agent’s or its Affiliates’ or representatives’ possession before or after the date on which such Lender became a party to this Agreement (or such Bank Product Provider entered into a
Bank Product Agreement). 
 15.7 Costs and Expenses; Indemnification. Agent may incur and pay Lender Group Expenses to the
extent Agent reasonably deems necessary or appropriate for the performance and fulfillment of its functions, powers, and obligations pursuant to the Loan Documents, including court costs, attorneys fees and expenses, fees and expenses of financial
accountants, advisors, consultants, and appraisers, costs of collection by outside collection agencies, auctioneer fees and expenses, and costs of security guards or insurance premiums paid to maintain the Collateral, whether or not Borrowers are
obligated to reimburse Agent or Lenders for such expenses pursuant to this Agreement or otherwise. Agent is authorized and directed to deduct and retain sufficient amounts from payments or proceeds of the Collateral received by Agent to reimburse
Agent for such out-of-pocket costs and expenses prior to the distribution of any amounts to Lenders (or Bank Product Providers). In the event Agent is not reimbursed for such costs and expenses by Borrowers or their Subsidiaries, each Lender hereby
agrees that it is and shall be obligated to pay to Agent such Lender’s ratable thereof. Whether or not the transactions contemplated hereby are consummated, each of the Lenders, on a ratable basis, shall indemnify and defend the Agent-Related
Persons (to the extent not reimbursed by or on behalf of Borrowers and without limiting the obligation of Borrowers to do so) from and against any and all Indemnified Liabilities; provided, that no Lender shall be liable for the payment to
any Agent-Related Person of any portion of such Indemnified Liabilities resulting solely from such Person’s gross negligence or willful misconduct nor shall any Lender be liable for the obligations of any Defaulting Lender in failing to make a
Revolving Loan or other extension of credit hereunder. Without limitation of the foregoing, each Lender shall reimburse Agent upon demand for such Lender’s ratable share of any costs or reasonable, documented out of pocket expenses (including
attorneys, accountants, advisors, and consultants fees and expenses) incurred by Agent in connection with the preparation, execution, delivery, administration, modification, amendment, or enforcement (whether through negotiations, legal proceedings
or otherwise) of, or legal advice in respect of rights or responsibilities under, this Agreement or any other Loan Document to the extent that Agent is not reimbursed for such expenses by or on behalf of Borrowers. The undertaking in this Section
shall survive the payment of all Obligations hereunder and the resignation or replacement of Agent. 

  
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 15.8 Agent in Individual Capacity. Wells Fargo and its Affiliates may make loans
to, issue letters of credit for the account of, accept deposits from, provide Bank Products to, acquire Equity Interests in, and generally engage in any kind of banking, trust, financial advisory, underwriting, or other business with any Borrower
and its Subsidiaries and Affiliates and any other Person party to any Loan Document as though Wells Fargo were not Agent hereunder, and, in each case, without notice to or consent of the other members of the Lender Group. The other members of the
Lender Group acknowledge (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, pursuant to such activities, Wells Fargo or its Affiliates may receive information regarding a Borrower or its
Affiliates or any other Person party to any Loan Documents that is subject to confidentiality obligations in favor of such Borrower or such other Person and that prohibit the disclosure of such information to the Lenders (or Bank Product Providers),
and the Lenders acknowledge (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver of such confidentiality obligations, which waiver
Agent will use its reasonable best efforts to obtain), Agent shall not be under any obligation to provide such information to them. The terms “Lender” and “Lenders” include Wells Fargo in its individual capacity. 

15.9 Successor Agent. Agent may resign as Agent upon 30 days (10 days if an Event of Default has occurred and is continuing)
prior written notice to the Lenders (unless such notice is waived by the Required Lenders) and Borrowers (unless such notice is waived by Borrowers) and without any notice to the Bank Product Providers. If Agent resigns under this Agreement, the
Required Lenders shall be entitled, with (so long as no Event of Default has occurred and is continuing) the consent of Borrowers (such consent not to be unreasonably withheld, delayed, or conditioned), appoint a successor Agent for the Lenders (and
the Bank Product Providers). If, at the time that Agent’s resignation is effective, it is acting as Issuing Bank or the Swing Lender, such resignation shall also operate to effectuate its resignation as Issuing Bank or the Swing Lender, as
applicable, and it shall automatically be relieved of any further obligation to issue Letters of Credit or to make Swing Loans. If no successor Agent is appointed prior to the effective date of the resignation of Agent, Agent may appoint, after
consulting with the Lenders and Borrowers, a successor Agent. If Agent has materially breached or failed to perform any material provision of this Agreement or of applicable law, the Required Lenders may agree in writing to remove and replace Agent
with a successor Agent from among the Lenders with (so long as no Event of Default has occurred and is continuing) the consent of Borrowers (such consent not to be unreasonably withheld, delayed, or conditioned). In any such event, upon the
acceptance of its appointment as successor Agent hereunder, such successor Agent shall succeed to all the rights, powers, and duties of the retiring Agent and the term “Agent” shall mean such successor Agent and the retiring Agent’s
appointment, powers, and duties as Agent shall be terminated. After any retiring Agent’s resignation hereunder as Agent, the provisions of this Section 15 shall inure to its benefit as to any actions taken or omitted to be taken by
it while it was Agent under this Agreement. If no successor Agent has accepted appointment as Agent by the date which is 30 days following a retiring Agent’s notice of resignation, the retiring Agent’s resignation shall nevertheless
thereupon become effective and the Lenders shall perform all of the duties of Agent hereunder until such time, if any, as the Lenders appoint a successor Agent as provided for above. 

15.10 Lender in Individual Capacity. Any Lender and its respective Affiliates may make loans to, issue letters of credit for the
account of, accept deposits from, provide Bank Products to, acquire Equity Interests in and generally engage in any kind of banking, trust, financial advisory, underwriting, or other business with any Borrower and its Subsidiaries and Affiliates and
any other Person party to any Loan Documents as though such Lender were not a Lender hereunder without notice to or consent of the other members of the Lender Group (or the Bank Product Providers). The other members of the Lender Group acknowledge
(and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, pursuant to such activities, such Lender and its respective Affiliates may receive information regarding a Borrower or its Affiliates or
any other Person party to any Loan Documents that is subject to confidentiality obligations in favor of such Borrower or such other Person and that prohibit the disclosure of such information to the Lenders, and

  
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the Lenders acknowledge (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to acknowledge) that, in such circumstances (and in the absence of a waiver of
such confidentiality obligations, which waiver such Lender will use its reasonable best efforts to obtain), such Lender shall not be under any obligation to provide such information to them. 

15.11 Collateral Matters. 

(a) The Lenders hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to
authorize) Agent to release any Lien on any Collateral (i) upon the termination of the Commitments and payment and satisfaction in full by Borrowers of all of the Obligations, (ii) constituting property being sold or disposed of if a
release is required or desirable in connection therewith and if Borrowers certify to Agent that the sale or disposition is permitted under Section 6.4 (and Agent may rely conclusively on any such certificate, without further inquiry),
(iii) constituting property in which no Borrower or its Subsidiaries owned any interest at the time Agent’s Lien was granted nor at any time thereafter, (iv) constituting property leased or licensed to a Borrower or its Subsidiaries
under a lease or license that has expired or is terminated in a transaction permitted under this Agreement, or (v) in connection with a credit bid or purchase authorized under this Section 15.11. The Loan Parties and the Lenders
hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to authorize) Agent, based upon the instruction of the Required Lenders, to (a) consent to, credit bid or purchase (either
directly or indirectly through one or more entities) all or any portion of the Collateral at any sale thereof conducted under the provisions of the Bankruptcy Code, including Section 363 of the Bankruptcy Code, (b) credit bid or purchase
(either directly or indirectly through one or more entities) all or any portion of the Collateral at any sale or other disposition thereof conducted under the provisions of the Code, including pursuant to Sections 9-610 or 9-620 of the Code, or
(c) credit bid or purchase (either directly or indirectly through one or more entities) all or any portion of the Collateral at any other sale or foreclosure conducted or consented to by Agent in accordance with applicable law in any judicial
action or proceeding or by the exercise of any legal or equitable remedy. In connection with any such credit bid or purchase, (i) the Obligations owed to the Lenders and the Bank Product Providers shall be entitled to be, and shall be, credit
bid on a ratable basis (with Obligations with respect to contingent or unliquidated claims being estimated for such purpose if the fixing or liquidation thereof would not impair or unduly delay the ability of Agent to credit bid or purchase at such
sale or other disposition of the Collateral and, if such contingent or unliquidated claims cannot be estimated without impairing or unduly delaying the ability of Agent to credit bid at such sale or other disposition, then such claims shall be
disregarded, not credit bid, and not entitled to any interest in the Collateral that is the subject of such credit bid or purchase) and the Lenders and the Bank Product Providers whose Obligations are credit bid shall be entitled to receive
interests (ratably based upon the proportion of their Obligations credit bid in relation to the aggregate amount of Obligations so credit bid) in the Collateral that is the subject of such credit bid or purchase (or in the Equity Interests of the
any entities that are used to consummate such credit bid or purchase), and (ii) Agent, based upon the instruction of the Required Lenders, may accept non-cash consideration, including debt and equity securities issued by any entities used to
consummate such credit bid or purchase and in connection therewith Agent may reduce the Obligations owed to the Lenders and the Bank Product Providers (ratably based upon the proportion of their Obligations credit bid in relation to the aggregate
amount of Obligations so credit bid) based upon the value of such non-cash consideration. Except as provided above, Agent will not execute and deliver a release of any Lien on any Collateral without the prior written authorization of (y) if the
release is of all or substantially all of the Collateral, all of the Lenders (without requiring the authorization of the Bank Product Providers), or (z) otherwise, the Required Lenders (without requiring the authorization of the Bank Product
Providers). Upon request by Agent or Borrowers at any time, the Lenders will (and if so requested, the Bank Product Providers will) confirm in writing Agent’s authority to release any such Liens on particular types or items of Collateral
pursuant to this Section 15.11; provided, that (1) anything to the contrary contained in any of the Loan Documents notwithstanding, Agent shall not be required to execute any document or take any action necessary to evidence
such release on terms that, in Agent’s opinion, could expose Agent to liability or create any obligation or entail any consequence other than the release of such Lien without recourse, representation, or warranty, and (2) such release
shall not in any manner discharge, affect, or impair the Obligations or any Liens (other than those expressly released) upon (or obligations of 

  
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Borrowers in respect of) any and all interests retained by any Borrower, including, the proceeds of any sale, all of which shall continue to constitute part of the Collateral. Each Lender further
hereby irrevocably authorize (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to irrevocably authorize) Agent, at its option and in its sole discretion, to subordinate any Lien granted to or held by Agent
under any Loan Document to the holder of any Permitted Lien on such property if such Permitted Lien secures Permitted Purchase Money Indebtedness. 

(b) Agent shall have no obligation whatsoever to any of the Lenders (or the Bank Product Providers) (i) to verify or assure that the
Collateral exists or is owned by Borrowers or their Subsidiaries or is cared for, protected, or insured or has been encumbered, (ii) to verify or assure that Agent’s Liens have been properly or sufficiently or lawfully created, perfected,
protected, or enforced or are entitled to any particular priority, (iii) to impose, maintain, increase, reduce, implement, or eliminate any particular reserve hereunder or to determine whether the amount of any reserve is appropriate or not, or
(iv) to exercise at all or in any particular manner or under any duty of care, disclosure or fidelity, or to continue exercising, any of the rights, authorities and powers granted or available to Agent pursuant to any of the Loan Documents, it
being understood and agreed that in respect of the Collateral, or any act, omission, or event related thereto, subject to the terms and conditions contained herein, Agent may act in any manner it may deem appropriate, in its sole discretion given
Agent’s own interest in the Collateral in its capacity as one of the Lenders and that Agent shall have no other duty or liability whatsoever to any Lender (or Bank Product Provider) as to any of the foregoing, except as otherwise expressly
provided herein. 
 15.12 Restrictions on Actions by Lenders; Sharing of Payments. 

(a) Each of the Lenders agrees that it shall not, without the express written consent of Agent, and that it shall, to the extent it is
lawfully entitled to do so, upon the written request of Agent, set off against the Obligations, any amounts owing by such Lender to any Borrower or its Subsidiaries or any deposit accounts of any Borrower or its Subsidiaries now or hereafter
maintained with such Lender. Each of the Lenders further agrees that it shall not, unless specifically requested to do so in writing by Agent, take or cause to be taken any action, including, the commencement of any legal or equitable proceedings to
enforce any Loan Document against any Borrower or any Guarantor or to foreclose any Lien on, or otherwise enforce any security interest in, any of the Collateral. 

(b) If, at any time or times any Lender shall receive (i) by payment, foreclosure, setoff, or otherwise, any proceeds of Collateral or
any payments with respect to the Obligations, except for any such proceeds or payments received by such Lender from Agent pursuant to the terms of this Agreement, or (ii) payments from Agent in excess of such Lender’s Pro Rata Share of all
such distributions by Agent, such Lender promptly shall (A) turn the same over to Agent, in kind, and with such endorsements as may be required to negotiate the same to Agent, or in immediately available funds, as applicable, for the account of
all of the Lenders and for application to the Obligations in accordance with the applicable provisions of this Agreement, or (B) purchase, without recourse or warranty, an undivided interest and participation in the Obligations owed to the
other Lenders so that such excess payment received shall be applied ratably as among the Lenders in accordance with their Pro Rata Shares; provided, that to the extent that such excess payment received by the purchasing party is thereafter
recovered from it, those purchases of participations shall be rescinded in whole or in part, as applicable, and the applicable portion of the purchase price paid therefor shall be returned to such purchasing party, but without interest except to the
extent that such purchasing party is required to pay interest in connection with the recovery of the excess payment. 
 15.13 Agency
for Perfection. Agent hereby appoints each other Lender (and each Bank Product Provider) as its agent (and each Lender hereby accepts (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to accept) such
appointment) for the purpose of perfecting Agent’s Liens in assets which, in accordance with Article 8 or Article 9, as applicable, of the Code can be perfected by possession or control. Should any Lender obtain possession or control of any
such Collateral, such Lender shall notify Agent thereof, and, promptly upon Agent’s request therefor shall deliver possession or control of such Collateral to Agent or in accordance with Agent’s instructions. 

  
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 15.14 Payments by Agent to the Lenders. All payments to be made by Agent to the
Lenders (or Bank Product Providers) shall be made by bank wire transfer of immediately available funds pursuant to such wire transfer instructions as each party may designate for itself by written notice to Agent. Concurrently with each such
payment, Agent shall identify whether such payment (or any portion thereof) represents principal, premium, fees, or interest of the Obligations. 

15.15 Concerning the Collateral and Related Loan Documents. Each member of the Lender Group authorizes and directs Agent to
enter into this Agreement and the other Loan Documents. Each member of the Lender Group agrees (and by entering into a Bank Product Agreement, each Bank Product Provider shall be deemed to agree) that any action taken by Agent in accordance with the
terms of this Agreement or the other Loan Documents relating to the Collateral and the exercise by Agent of its powers set forth therein or herein, together with such other powers that are reasonably incidental thereto, shall be binding upon all of
the Lenders (and such Bank Product Provider). 
 15.16 Financial Examination Reports; Confidentiality; Disclaimers by Lenders; Other
Reports and Information. By becoming a party to this Agreement, each Lender: 
 (a) is deemed to have requested that Agent
furnish such Lender, promptly after it becomes available, a copy of each financial examination report respecting any Borrower or its Subsidiaries (each, a “Report”) prepared by or at the request of Agent, and Agent shall so furnish
each Lender with such Reports, 
 (b) expressly agrees and acknowledges that Agent does not (i) make any representation or warranty as
to the accuracy of any Report, and (ii) shall not be liable for any information contained in any Report, 
 (c) expressly agrees and
acknowledges that the Reports are not comprehensive audits or examinations, that Agent or other party performing any financial examination will inspect only specific information regarding Borrowers and their Subsidiaries and will rely significantly
upon Borrowers’ and their Subsidiaries’ books and records, as well as on representations of Borrowers’ personnel, 
 (d)
agrees to keep all Reports and other material, non-public information regarding Borrowers and their Subsidiaries and their operations, assets, and existing and contemplated business plans in a confidential manner in accordance with
Section 17.9, and 
 (e) without limiting the generality of any other indemnification provision contained in this Agreement,
agrees: (i) to hold Agent and any other Lender preparing a Report harmless from any action the indemnifying Lender may take or fail to take or any conclusion the indemnifying Lender may reach or draw from any Report in connection with any loans
or other credit accommodations that the indemnifying Lender has made or may make to Borrowers, or the indemnifying Lender’s participation in, or the indemnifying Lender’s purchase of, a loan or loans of Borrowers, and (ii) to pay and
protect, and indemnify, defend and hold Agent, and any such other Lender preparing a Report harmless from and against, the claims, actions, proceedings, damages, costs, expenses, and other amounts (including, attorneys fees and costs) incurred by
Agent and any such other Lender preparing a Report as the direct or indirect result of any third parties who might obtain all or part of any Report through the indemnifying Lender. 

(f) In addition to the foregoing, (x) any Lender may from time to time request of Agent in writing that Agent provide to such Lender a
copy of any report or document provided by any Borrower or its Subsidiaries to Agent that has not been contemporaneously provided by such Borrower or such Subsidiary to such Lender, and, upon receipt of such request, Agent promptly shall provide a
copy of same to such Lender, (y) to the extent that Agent is entitled, under any provision of the Loan Documents, to request additional reports or information from any Borrower or its Subsidiaries, any Lender may, from time to time, reasonably
request Agent to exercise such right as specified in such Lender’s notice to Agent, whereupon Agent promptly shall request of Borrowers the additional reports or information reasonably specified by such Lender, and, upon receipt thereof from
such Borrower or such Subsidiary, Agent promptly shall provide a copy of same to such Lender, and (z) any time that Agent renders to Borrowers a statement regarding the Loan Account, Agent shall send a copy of such statement to each Lender.

  
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 15.17 Several Obligations; No Liability. Notwithstanding that certain of the Loan
Documents now or hereafter may have been or will be executed only by or in favor of Agent in its capacity as such, and not by or in favor of the Lenders, any and all obligations on the part of Agent (if any) to make any credit available hereunder
shall constitute the several (and not joint) obligations of the respective Lenders on a ratable basis, according to their respective Commitments, to make an amount of such credit not to exceed, in principal amount, at any one time outstanding, the
amount of their respective Commitments. Nothing contained herein shall confer upon any Lender any interest in, or subject any Lender to any liability for, or in respect of, the business, assets, profits, losses, or liabilities of any other Lender.
Each Lender shall be solely responsible for notifying its Participants of any matters relating to the Loan Documents to the extent any such notice may be required, and no Lender shall have any obligation, duty, or liability to any Participant of any
other Lender. Except as provided in Section 15.7, no member of the Lender Group shall have any liability for the acts of any other member of the Lender Group. No Lender shall be responsible to any Borrower or any other Person for any
failure by any other Lender (or Bank Product Provider) to fulfill its obligations to make credit available hereunder, nor to advance for such Lender (or Bank Product Provider) or on its behalf, nor to take any other action on behalf of such Lender
(or Bank Product Provider) hereunder or in connection with the financing contemplated herein. 
 16. WITHHOLDING TAXES. 

16.1 Payments. All payments made by Borrowers hereunder or under any note or other Loan Document will be made without setoff,
counterclaim, or other defense. In addition, all such payments will be made free and clear of, and without deduction or withholding for, any present or future Indemnified Taxes, and in the event any deduction or withholding of Indemnified Taxes is
required, Borrowers shall comply with the next sentence of this Section 16.1. If any Indemnified Taxes are so levied or imposed, Borrowers agree to pay the full amount of such Indemnified Taxes and such additional amounts as may be
necessary so that every payment of all amounts due under this Agreement, any note, or Loan Document, including any amount paid pursuant to this Section 16.1 after withholding or deduction for or on account of any Indemnified Taxes, will
not be less than the amount provided for herein; provided, that Borrowers shall not be required to increase any such amounts to the extent that the increase in such amount payable results from Agent’s or such Lender’s own willful
misconduct or gross negligence (as finally determined by a court of competent jurisdiction). Borrowers will furnish to Agent as promptly as possible after the date the payment of any Indemnified Tax is due pursuant to applicable law, certified
copies of tax receipts evidencing such payment by Borrowers. Borrowers agree to pay any present or future stamp, value added or documentary taxes or any other excise or property taxes, charges, or similar levies that arise from any payment made
hereunder or from the execution, delivery, performance, recordation, or filing of, or otherwise with respect to this Agreement or any other Loan Document. 

16.2 Exemptions. 

(a) If a Lender or Participant is entitled to claim an exemption or reduction from United States withholding tax, such Lender or Participant
agrees with and in favor of Agent, to deliver to Agent (or, in the case of a Participant, to the Lender granting the participation only) one of the following before receiving its first payment under this Agreement: 

(i) if such Lender or Participant is entitled to claim an exemption from United States withholding tax pursuant to the portfolio interest
exception, (A) a statement of the Lender or Participant, signed under penalty of perjury, that it is not a (I) a “bank” as described in Section 881(c)(3)(A) of the IRC, (II) a 10% shareholder of Administrative Borrower
(within the meaning of Section 871(h)(3)(B) of the IRC), or (III) a controlled foreign corporation related to Borrowers within the meaning of Section 864(d)(4) of the IRC, and (B) a properly completed and executed IRS Form W-8BEN or
Form W-8IMY (with proper attachments); 

  
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 (ii) if such Lender or Participant is entitled to claim an exemption from, or a reduction of,
withholding tax under a United States tax treaty, a properly completed and executed copy of IRS Form W-8BEN; 
 (iii) if such Lender or
Participant is entitled to claim that interest paid under this Agreement is exempt from United States withholding tax because it is effectively connected with a United States trade or business of such Lender, a properly completed and executed copy
of IRS Form W-8ECI; 
 (iv) if such Lender or Participant is entitled to claim that interest paid under this Agreement is exempt from
United States withholding tax because such Lender or Participant serves as an intermediary, a properly completed and executed copy of IRS Form W-8IMY (with proper attachments); or 

(v) a properly completed and executed copy of any other form or forms, including IRS Form W-9, as may be required under the IRC or other laws
of the United States as a condition to exemption from, or reduction of, United States withholding or backup withholding tax. 
 (b) Each
Lender or Participant shall provide new forms (or successor forms) upon the expiration or obsolescence of any previously delivered forms and to promptly notify Agent (or, in the case of a Participant, to the Lender granting the participation only)
of any change in circumstances which would modify or render invalid any claimed exemption or reduction. 
 (c) If a Lender or Participant
claims an exemption from withholding tax in a jurisdiction other than the United States, such Lender or such Participant agrees with and in favor of Agent, to deliver to Agent (or, in the case of a Participant, to the Lender granting the
participation only) any such form or forms, as may be required under the laws of such jurisdiction as a condition to exemption from, or reduction of, foreign withholding or backup withholding tax before receiving its first payment under this
Agreement, but only if such Lender or such Participant is legally able to deliver such forms, provided, that nothing in this Section 16.2(c) shall require a Lender or Participant to disclose any information that it deems to be
confidential (including without limitation, its tax returns). Each Lender and each Participant shall provide new forms (or successor forms) upon the expiration or obsolescence of any previously delivered forms and to promptly notify Agent (or, in
the case of a Participant, to the Lender granting the participation only) of any change in circumstances which would modify or render invalid any claimed exemption or reduction. 

(d) If a Lender or Participant claims exemption from, or reduction of, withholding tax and such Lender or Participant sells, assigns, grants a
participation in, or otherwise transfers all or part of the Obligations of Borrowers to such Lender or Participant, such Lender or Participant agrees to notify Agent (or, in the case of a sale of a participation interest, to the Lender granting the
participation only) of the percentage amount in which it is no longer the beneficial owner of Obligations of Borrowers to such Lender or Participant. To the extent of such percentage amount, Agent will treat such Lender’s or such
Participant’s documentation provided pursuant to Section 16.2(a) or 16.2(c) as no longer valid. With respect to such percentage amount, such Participant or Assignee may provide new documentation, pursuant to
Section 16.2(a) or 16.2(c), if applicable. Borrowers agree that each Participant shall be entitled to the benefits of this Section 16 with respect to its participation in any portion of the Commitments and the
Obligations so long as such Participant complies with the obligations set forth in this Section 16 with respect thereto. 
 16.3
Reductions. 
 (a) If a Lender or a Participant is entitled to a reduction in the applicable withholding tax, Agent (or, in
the case of a Participant, to the Lender granting the participation) may withhold from any interest payment to such Lender or such Participant an amount equivalent to the applicable withholding tax after taking into account such reduction. If the
forms or other documentation required by Section 16.2(a) or 16.2(c) are not delivered to Agent (or, in the case of a Participant, to the Lender granting the participation), then Agent (or, in the case of a Participant, to the
Lender granting the participation) may withhold from any interest payment to such Lender or such Participant not providing such forms or other documentation an amount equivalent to the applicable withholding tax. 

  
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 (b) If the IRS or any other Governmental Authority of the United States or other jurisdiction
asserts a claim that Agent (or, in the case of a Participant, to the Lender granting the participation) did not properly withhold tax from amounts paid to or for the account of any Lender or any Participant due to a failure on the part of the Lender
or any Participant (because the appropriate form was not delivered, was not properly executed, or because such Lender failed to notify Agent (or such Participant failed to notify the Lender granting the participation) of a change in circumstances
which rendered the exemption from, or reduction of, withholding tax ineffective, or for any other reason) such Lender shall indemnify and hold Agent harmless (or, in the case of a Participant, such Participant shall indemnify and hold the Lender
granting the participation harmless) for all amounts paid, directly or indirectly, by Agent (or, in the case of a Participant, to the Lender granting the participation), as tax or otherwise, including penalties and interest, and including any taxes
imposed by any jurisdiction on the amounts payable to Agent (or, in the case of a Participant, to the Lender granting the participation only) under this Section 16, together with all costs and expenses (including attorneys fees and
expenses). The obligation of the Lenders and the Participants under this subsection shall survive the payment of all Obligations and the resignation or replacement of Agent. 

16.4 Refunds. If Agent or a Lender determines, in its sole discretion, that it has received a refund of any Indemnified Taxes to
which Borrowers have paid additional amounts pursuant to this Section 16, so long as no Default or Event of Default has occurred and is continuing, it shall pay over such refund to Borrowers (but only to the extent of payments made, or
additional amounts paid, by Borrowers under this Section 16 with respect to Indemnified Taxes giving rise to such a refund), net of all out-of-pocket expenses of Agent or such Lender and without interest (other than any interest paid by
the applicable Governmental Authority with respect to such a refund); provided, that Borrowers, upon the request of Agent or such Lender, agrees to repay the amount paid over to Borrowers (plus any penalties, interest or other charges, imposed by
the applicable Governmental Authority, other than such penalties, interest or other charges imposed as a result of the willful misconduct or gross negligence of Agent hereunder) to Agent or such Lender in the event Agent or such Lender is required
to repay such refund to such Governmental Authority. Notwithstanding anything in this Agreement to the contrary, this Section 16 shall not be construed to require Agent or any Lender to make available its tax returns (or any other
information which it deems confidential) to Borrowers or any other Person. 
 17. GENERAL PROVISIONS. 

17.1 Effectiveness. This Agreement shall be binding and deemed effective when executed by each Borrower, Agent, and each Lender
whose signature is provided for on the signature pages hereof. 
 17.2 Section Headings. Headings and numbers have been set
forth herein for convenience only. Unless the contrary is compelled by the context, everything contained in each Section applies equally to this entire Agreement. 

17.3 Interpretation. Neither this Agreement nor any uncertainty or ambiguity herein shall be construed against the Lender Group
or any Borrower, whether under any rule of construction or otherwise. On the contrary, this Agreement has been reviewed by all parties and shall be construed and interpreted according to the ordinary meaning of the words used so as to accomplish
fairly the purposes and intentions of all parties hereto. 
 17.4 Severability of Provisions. Each provision of this Agreement
shall be severable from every other provision of this Agreement for the purpose of determining the legal enforceability of any specific provision. 

17.5 Bank Product Providers. Each Bank Product Provider in its capacity as such shall be deemed a third party beneficiary hereof
and of the provisions of the other Loan Documents for purposes of any reference in a Loan Document to the parties for whom Agent is acting. Agent hereby agrees to act as agent for such Bank 

  
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Product Providers and, by virtue of entering into a Bank Product Agreement, the applicable Bank Product Provider shall be automatically deemed to have appointed Agent as its agent and to have
accepted the benefits of the Loan Documents. It is understood and agreed that the rights and benefits of each Bank Product Provider under the Loan Documents consist exclusively of such Bank Product Provider’s being a beneficiary of the Liens
and security interests (and, if applicable, guarantees) granted to Agent and the right to share in payments and collections out of the Collateral as more fully set forth herein. In addition, each Bank Product Provider, by virtue of entering into a
Bank Product Agreement, shall be automatically deemed to have agreed that Agent shall have the right, but shall have no obligation, to establish, maintain, relax, or release reserves in respect of the Bank Product Obligations and that if reserves
are established there is no obligation on the part of Agent to determine or insure whether the amount of any such reserve is appropriate or not. In connection with any such distribution of payments or proceeds of Collateral, Agent shall be entitled
to assume no amounts are due or owing to any Bank Product Provider unless such Bank Product Provider has provided a written certification (setting forth a reasonably detailed calculation) to Agent as to the amounts that are due and owing to it and
such written certification is received by Agent a reasonable period of time prior to the making of such distribution. Agent shall have no obligation to calculate the amount due and payable with respect to any Bank Products, but may rely upon the
written certification of the amount due and payable from the applicable Bank Product Provider. In the absence of an updated certification, Agent shall be entitled to assume that the amount due and payable to the applicable Bank Product Provider is
the amount last certified to Agent by such Bank Product Provider as being due and payable (less any distributions made to such Bank Product Provider on account thereof). Borrowers may obtain Bank Products from any Bank Product Provider, although
Borrowers are not required to do so. Each Borrower acknowledges and agrees that no Bank Product Provider has committed to provide any Bank Products and that the providing of Bank Products by any Bank Product Provider is in the sole and absolute
discretion of such Bank Product Provider. Notwithstanding anything to the contrary in this Agreement or any other Loan Document, no provider or holder of any Bank Product shall have any voting or approval rights hereunder (or be deemed a Lender)
solely by virtue of its status as the provider or holder of such agreements or products or the Obligations owing thereunder, nor shall the consent of any such provider or holder be required (other than in their capacities as Lenders, to the extent
applicable) for any matter hereunder or under any of the other Loan Documents, including as to any matter relating to the Collateral or the release of Collateral or Guarantors.

17.6 Debtor-Creditor Relationship. The relationship between the Lenders and Agent, on the one hand, and the Loan Parties, on the
other hand, is solely that of creditor and debtor. No member of the Lender Group has (or shall be deemed to have) any fiduciary relationship or duty to any Loan Party arising out of or in connection with the Loan Documents or the transactions
contemplated thereby, and there is no agency or joint venture relationship between the members of the Lender Group, on the one hand, and the Loan Parties, on the other hand, by virtue of any Loan Document or any transaction contemplated therein.

 17.7 Counterparts; Electronic Execution. This Agreement may be executed in any number of counterparts and by different
parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Agreement. Delivery of an executed counterpart of this
Agreement by telefacsimile or other electronic method of transmission shall be equally as effective as delivery of an original executed counterpart of this Agreement. Any party delivering an executed counterpart of this Agreement by telefacsimile or
other electronic method of transmission also shall deliver an original executed counterpart of this Agreement but the failure to deliver an original executed counterpart shall not affect the validity, enforceability, and binding effect of this
Agreement. The foregoing shall apply to each other Loan Document mutatis mutandis. 
 17.8 Revival and Reinstatement of
Obligations; Certain Waivers. If any member of the Lender Group or any Bank Product Provider repays, refunds, restores, or returns in whole or in part, any payment or property (including any proceeds of Collateral)
previously paid or transferred to such member of the Lender Group or such Bank Product Provider in full or partial satisfaction of any Obligation or on account of any other obligation of any Loan Party
under any Loan Document or any Bank Product Agreement, because the payment, transfer, or the incurrence of the obligation so satisfied is asserted or declared to be void, voidable, or otherwise recoverable under any law relating to
creditors’ rights, including provisions of the Bankruptcy Code 

  
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relating to fraudulent transfers, preferences, or other voidable or recoverable obligations or transfers (each, a “Voidable Transfer”), or because such member
of the Lender Group or Bank Product Provider elects to do so on the reasonable advice of its counsel in connection with a claim that the payment, transfer, or incurrence is or may be a Voidable Transfer, then, as to any such Voidable
Transfer, or the amount thereof that such member of the Lender Group or Bank Product Provider elects to repay, restore, or return (including pursuant to a settlement of any claim in respect thereof), and as to all reasonable costs,
expenses, and attorneys fees of such member of the Lender Group or Bank Product Provider related thereto, (i) the liability of the Loan Parties with respect to the amount or property paid, refunded, restored, or returned will
automatically and immediately be revived, reinstated, and restored and will exist and (ii) Agent’s Liens securing such liability shall be effective, revived, and remain in full force and effect, in each case, as fully as if
such Voidable Transfer had never been made. If, prior to any of the foregoing, (A) Agent’s Liens shall have been released or terminated or (B) any provision of this Agreement shall have been terminated or cancelled,
Agent’s Liens, or such provision of this Agreement, shall be reinstated in full force and effect and such prior release, termination, cancellation or surrender shall not diminish, release, discharge, impair or otherwise affect the
obligation of any Loan Party in respect of such liability or any Collateral securing such liability.
 17.9
Confidentiality. 
 (a) Agent and Lenders each individually (and not jointly or jointly and severally) agree that
non-public information regarding Borrowers and their Subsidiaries, their operations, assets, and existing and contemplated business plans (“Confidential Information”) shall be treated by Agent and the Lenders in a confidential
manner, and shall not be disclosed by Agent and the Lenders to Persons who are not parties to this Agreement, except: (i) to attorneys for and other advisors, accountants, auditors, and consultants to any member of the Lender Group and to
employees, directors and officers of any member of the Lender Group (the Persons in this clause (i), “Lender Group Representatives”) on a “need to know” basis in connection with this Agreement and the transactions
contemplated hereby and on a confidential basis, (ii) to Subsidiaries and Affiliates of any member of the Lender Group (including the Bank Product Providers), provided that any such Subsidiary or Affiliate shall have agreed to receive such
information hereunder subject to the terms of this Section 17.9, (iii) as may be required by regulatory authorities so long as such authorities are informed of the confidential nature of such information, (iv) as may be
required by statute, decision, or judicial or administrative order, rule, or regulation; provided that (x) prior to any disclosure under this clause (iv), the disclosing party agrees to provide Borrowers with prior notice thereof, to the
extent that it is practicable to do so and to the extent that the disclosing party is permitted to provide such prior notice to Borrowers pursuant to the terms of the applicable statute, decision, or judicial or administrative order, rule, or
regulation and (y) any disclosure under this clause (iv) shall be limited to the portion of the Confidential Information as may be required by such statute, decision, or judicial or administrative order, rule, or regulation, (v) as
may be agreed to in advance in writing by Borrowers, (vi) as requested or required by any Governmental Authority pursuant to any subpoena or other legal process, provided, that, (x) prior to any disclosure under this clause (vi) the
disclosing party agrees to provide Borrowers with prior written notice thereof, to the extent that it is practicable to do so and to the extent that the disclosing party is permitted to provide such prior written notice to Borrowers pursuant to the
terms of the subpoena or other legal process and (y) any disclosure under this clause (vi) shall be limited to the portion of the Confidential Information as may be required by such Governmental Authority pursuant to such subpoena or other
legal process, (vii) as to any such information that is or becomes generally available to the public (other than as a result of prohibited disclosure by Agent or the Lenders or the Lender Group Representatives), (viii) in connection with
any assignment, participation or pledge of any Lender’s interest under this Agreement, provided that prior to receipt of Confidential Information any such assignee, participant, or pledgee shall have agreed in writing to receive such
Confidential Information either subject to the terms of this Section 17.9 or pursuant to confidentiality requirements substantially similar to those contained in this Section 17.9 (and such Person may disclose such
Confidential Information to Persons employed or engaged by them as described in clause (i) above), (ix) in connection with any litigation or other adversary proceeding involving parties hereto which such litigation or adversary proceeding
involves claims related to the rights or duties of such parties under this Agreement or the other Loan Documents; provided, that, prior to any disclosure to any Person (other than any Loan Party, Agent, any Lender, any of their respective
Affiliates, or their respective counsel) under this 

  
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clause (ix) with respect to litigation involving any Person (other than any Borrower, Agent, any Lender, any of their respective Affiliates, or their respective counsel), the disclosing
party agrees to provide Borrowers with prior written notice thereof, and (x) in connection with, and to the extent reasonably necessary for, the exercise of any secured creditor remedy under this Agreement or under any other Loan Document. 

(b) Anything in this Agreement to the contrary notwithstanding, Agent may disclose information concerning the terms and conditions of this
Agreement and the other Loan Documents to loan syndication and pricing reporting services or in its marketing or promotional materials, with such information to consist of deal terms and other information customarily found in such publications or
marketing or promotional materials and may otherwise use the name, logos, and other insignia of any Borrower or the other Loan Parties and the Commitments provided hereunder in any “tombstone” or other advertisements, on its website or in
other marketing materials of the Agent. 
 (c) The Loan Parties hereby acknowledge that Agent or its Affiliates may make available to the
Lenders materials or information provided by or on behalf of Borrowers hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks, SyndTrak or another similar electronic system (the
“Platform”) and certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Loan Parties or their securities) (each, a “Public
Lender”). The Loan Parties shall be deemed to have authorized Agent and its Affiliates and the Lenders to treat Borrower Materials marked “PUBLIC” or otherwise at any time filed with the SEC as not containing any material
non-public information with respect to the Loan Parties or their securities for purposes of United States federal and state securities laws. All Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the
Platform designated as “Public Investor” (or another similar term). Agent and its Affiliates and the Lenders shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” or that are not at any time filed with
the SEC as being suitable only for posting on a portion of the Platform not marked as “Public Investor” (or such other similar term). 

17.10 Survival. All representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or
other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and
the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its behalf and notwithstanding that Agent, Issuing Bank, or any Lender may have had notice or knowledge of any Default
or Event of Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of, or any accrued interest on, any Loan or any fee or any other amount
payable under this Agreement is outstanding or unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or been terminated. 

17.11 Patriot Act. Each Lender that is subject to the requirements of the Patriot Act hereby notifies Borrowers that pursuant to
the requirements of the Act, it is required to obtain, verify and record information that identifies each Borrower, which information includes the name and address of each Borrower and other information that will allow such Lender to identify each
Borrower in accordance with the Patriot Act. In addition, if Agent is required by law or regulation or internal policies to do so, it shall have the right to periodically conduct (a) Patriot Act searches, OFAC/PEP searches, and customary
individual background checks for the Loan Parties and (b) OFAC/PEP searches and customary individual background checks for the Loan Parties’ senior management and key principals, and each Borrower agrees to cooperate in respect of the
conduct of such searches and further agrees that the reasonable costs and charges for such searches shall constitute Lender Group Expenses hereunder and be for the account of Borrowers. 

17.12 Integration. This Agreement, together with the other Loan Documents, reflects the entire understanding of the parties with
respect to the transactions contemplated hereby and shall not be contradicted or qualified by any other agreement, oral or written, before the date hereof. The foregoing to the contrary notwithstanding, all Bank Product Agreements, if any, are
independent agreements governed by the written provisions of such Bank Product Agreements, which will remain in full force and effect, unaffected by any repayment, prepayments, acceleration, reduction, increase, or change in the terms of any credit
extended hereunder, except as otherwise expressly provided in such Bank Product Agreement. 

  
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 17.13 Connecture as Agent for Borrowers. Each Borrower hereby irrevocably appoints
Connecture as the borrowing agent and attorney-in-fact for all Borrowers (the “Administrative Borrower”) which appointment shall remain in full force and effect unless and until Agent shall have received prior written notice signed
by each Borrower that such appointment has been revoked and that another Borrower has been appointed Administrative Borrower. Each Borrower hereby irrevocably appoints and authorizes the Administrative Borrower (a) to provide Agent with all
notices with respect to Revolving Loans and Letters of Credit obtained for the benefit of any Borrower and all other notices and instructions under this Agreement and the other Loan Documents (and any notice or instruction provided by Administrative
Borrower shall be deemed to be given by Borrowers hereunder and shall bind each Borrower), (b) to receive notices and instructions from members of the Lender Group (and any notice or instruction provided by any member of the Lender Group to the
Administrative Borrower in accordance with the terms hereof shall be deemed to have been given to each Borrower), and (c) to take such action as the Administrative Borrower deems appropriate on its behalf to obtain Revolving Loans and Letters
of Credit and to exercise such other powers as are reasonably incidental thereto to carry out the purposes of this Agreement. It is understood that the handling of the Loan Account and Collateral in a combined fashion, as more fully set forth
herein, is done solely as an accommodation to Borrowers in order to utilize the collective borrowing powers of Borrowers in the most efficient and economical manner and at their request, and that Lender Group shall not incur liability to any
Borrower as a result hereof. Each Borrower expects to derive benefit, directly or indirectly, from the handling of the Loan Account and the Collateral in a combined fashion since the successful operation of each Borrower is dependent on the
continued successful performance of the integrated group. To induce the Lender Group to do so, and in consideration thereof, each Borrower hereby jointly and severally agrees to indemnify each member of the Lender Group and hold each member of the
Lender Group harmless against any and all liability, expense, loss or claim of damage or injury, made against the Lender Group by any Borrower or by any third party whosoever, arising from or incurred by reason of (i) the handling of the Loan
Account and Collateral of Borrowers as herein provided, or (ii) the Lender Group’s relying on any instructions of the Administrative Borrower, except that Borrowers will have no liability to the relevant Agent-Related Person
or Lender-Related Person under this Section 17.13 with respect to any liability that has been finally determined by a court of competent jurisdiction to have resulted solely from the gross negligence or willful misconduct of such
Agent-Related Person or Lender-Related Person, as the case may be. 
 [Signature pages to follow.] 

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

							
	BORROWERS:	 		 	 CONNECTURE, INC.
 a Delaware
corporation

				
		 		 	By:	 	 /s/ James Purko

		 		 	Name:	 	 James Purko

		 		 	Title:	 	 CFO

			
		 		 	 DESTINATIONRX, INC.
 a
Delaware corporation

				
		 		 	By:	 	 /s/ James Purko

		 		 	Name:	 	 James Purko

		 		 	Title:	 	 CFO

			
		 		 	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

a national banking association, as Agent and as a Lender

				
		 		 	By:	 	 /s/ Stephen Carll

		 		 	Name:	 	 Stephen Carll

		 		 		 	Its Authorized Signatory

 Schedule 1.1 

As used in the Agreement, the following terms shall have the following definitions: 

“Accounting Changes” means changes in accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants (or successor thereto or any agency with similar functions). 

“Acquired Indebtedness” means Indebtedness of a Person whose assets or Equity Interests are acquired by a Borrower or any of
its Subsidiaries in connection with a Permitted Acquisition; provided, that such Indebtedness (a) is either purchase money Indebtedness or a Capital Lease with respect to Equipment or mortgage financing with respect to Real Property,
(b) was in existence prior to the date of such Permitted Acquisition, and (c) was not incurred in connection with, or in contemplation of, such Permitted Acquisition. 

“Acquisition” means (a) the purchase or other acquisition by a Person or its Subsidiaries of all or substantially all of
the assets of (or any division or business line of) any other Person, or (b) the purchase or other acquisition (whether by means of a merger, consolidation, or otherwise) by a Person or its Subsidiaries of all or substantially all of the Equity
Interests of any other Person. 
 “Acquisition Agreement” means that certain Merger Agreement, dated as of January 14,
2013, among Connecture, DRX, DRX Acquisition Company, and the Principal Stockholders named therein. 
 “Acquisition
Documents” means the Acquisition Agreement and all other documents related thereto and executed in connection therewith. 

“Additional Documents” has the meaning specified therefor in Section 5.12 of the Agreement. 

“Administrative Borrower” has the meaning specified therefor in Section 17.13 of the Agreement. 

“Administrative Questionnaire” has the meaning specified therefor in Section 13.1(a) of the Agreement. 

“Affected Lender” has the meaning specified therefor in Section 2.13(b) of the Agreement. 

“Affiliate” means, as applied to any Person, any other Person who controls, is controlled by, or is under common control
with, such Person. For purposes of this definition, “control” means the possession, directly or indirectly through one or more intermediaries, of the power to direct the management and policies of a Person, whether through the ownership of
Equity Interests, by contract, or otherwise; provided, that, for purposes of Section 6.10 of the Agreement: (a) any Person which owns directly or indirectly 10% or more of the Equity Interests having ordinary voting power for
the election of directors or other members of the governing body of a Person or 10% or more of the partnership or other ownership interests of a Person (other than as a limited partner of such Person) shall be deemed an Affiliate of such Person,
(b) each director (or comparable manager) of a Person shall be deemed to be an Affiliate of such Person, and (c) each partnership in which a Person is a general partner shall be deemed an Affiliate of such Person. 

“Agent” has the meaning specified therefor in the preamble to the Agreement. 

“Agent-Related Persons” means Agent, together with its Affiliates, officers, directors, employees, attorneys, and agents.

 “Agent’s Account” means the Deposit Account of Agent identified on Schedule A-1 to the Agreement (or such
other Deposit Account of Agent that has been designated as such, in writing, by Agent to Administrative Borrower and the Lenders). 

  
 -1- 

 “Agent’s Liens” means the Liens granted by each Borrower or its
Subsidiaries to Agent under the Loan Documents and securing the Obligations. 
 “Agreement” means the Credit Agreement to
which this Schedule 1.1 is attached. 
 “Applicable Margin” means, as of any date of determination and with respect
to Base Rate Loans or LIBOR Rate Loans, as applicable, the applicable margin set forth in the following table that corresponds to the most recent Total Leverage Ratio calculation delivered to Agent pursuant to Section 5.1 of the
Agreement (the “Total Leverage Ratio Calculation”); provided, that for the period from the Closing Date through the date Agent receives the Total Leverage Ratio Calculation in respect of the testing period ending
March 31, 2013, the Applicable Margin shall be set at the margin in the row styled “Level III”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Margin shall be set at
the margin in the row styled “Level III”: 
  

							
	 Level
	  	 Total Leverage

Ratio Calculation
	  	 Applicable Margin Relative
to Base Rate Loans (the
“Base Rate
Margin”)
	  	 Applicable Margin
Relative to LIBOR Rate
Loans (the
“LIBOR
Rate Margin”)

				
	I	  	If the Total Leverage Ratio is less 2.5:1.0	  	4.50 percentage points	  	5.50 percentage points
				
	II	  	If the Total Leverage Ratio is greater than or equal to 2.5:1.0 and less than or equal to 3.0:1.0	  	4.75 percentage points	  	5.75 percentage points
				
	III	  	If the Total Leverage Ratio is greater than 3.0:1.0	  	5.00 percentage points	  	6.00 percentage points

 Except as set forth in the foregoing proviso, the Applicable Margin shall be based upon the most recent Total
Leverage Ratio Calculation, which will be calculated as of the end of each fiscal quarter. Except as set forth in the foregoing proviso, the Applicable Margin shall be re-determined quarterly on the first day of the month following the date of
delivery to Agent of the certified calculation of the Total Leverage Ratio pursuant to Section 5.1 of the Agreement; provided, that if Borrowers fail to provide such certification when such certification is due, the Applicable
Margin shall be set at the margin in the row styled “Level III” as of the first day of the month following the date on which the certification was required to be delivered until the date on which such certification is delivered (on which
date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such certification, the Applicable Margin shall be set at the margin based upon the calculations disclosed by
such certification. In the event that the information regarding the Total Leverage Ratio contained in any certificate delivered pursuant to Section 5.1 of the Agreement is shown to be inaccurate, and such inaccuracy, if corrected, would
have led to the application of a higher Applicable Margin for any period (an “Applicable Period”) than the Applicable Margin actually applied for such Applicable Period, then (i) Borrowers shall immediately deliver to Agent a
correct certificate for such Applicable Period, (ii) the Applicable Margin shall be determined as if the correct Applicable Margin (as set forth in the table above) were applicable for such Applicable Period, and (iii) Borrowers shall
immediately deliver to Agent full payment in respect of the accrued additional interest as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by Agent to the affected Obligations. 

  
 -2- 

 “Application Event” means the occurrence of (a) a failure by Borrowers to
repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(ii) of
the Agreement. 
 “Assignee” has the meaning specified therefor in Section 13.1(a) of the Agreement. 

“Assignment and Acceptance” means an Assignment and Acceptance Agreement substantially in the form of Exhibit A-1 to
the Agreement. 
 “Authorized Person” means any one of the individuals identified on Schedule A-2 to the Agreement,
as such schedule is updated from time to time by written notice from Borrowers to Agent. 
 “Availability” means, as of any
date of determination, the amount that Borrowers are entitled to borrow as Revolving Loans under Section 2.1 of the Agreement (after giving effect to the then outstanding Revolver Usage). 

“Bank Product” means any one or more of the following financial products or accommodations extended to a Borrower or its
Subsidiaries by a Bank Product Provider: (a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”)), (b) credit card processing services,
(c) debit cards, (d) stored value cards, (e) Cash Management Services, or (f) transactions under Hedge Agreements. 

“Bank Product Agreements” means those agreements entered into from time to time by a Borrower or its Subsidiaries with a Bank
Product Provider in connection with the obtaining of any of the Bank Products. 
 “Bank Product Collateralization” means
providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent in its reasonable discretion
to be sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations); provided that the Agent shall endeavor to provide substantially contemporaneous
written detail of such determination to the Borrowers, but a non-willful failure of Agent to so notify Borrowers shall not be a breach of this Agreement and shall not cause such establishment or increase of Bank Product Collateralization to be
ineffective. 
 “Bank Product Obligations” means (a) all obligations, liabilities, reimbursement obligations, fees, or
expenses owing by each Borrower and its Subsidiaries to any Bank Product Provider pursuant to or evidenced by a Bank Product Agreement and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or
to become due, now existing or hereafter arising, (b) all Hedge Obligations, and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a result of Agent or such Lender purchasing participations from, or
executing guarantees or indemnities or reimbursement obligations to, a Bank Product Provider with respect to the Bank Products provided by such Bank Product Provider to a Borrower or one of its Subsidiaries. 

“Bank Product Provider” means Wells Fargo or any of its Affiliates, including each of the foregoing in its capacity, if
applicable, as a Hedge Provider 
 “Bank Product Provider Agreement” means an agreement in substantially the form attached
hereto as Exhibit B-2 to the Agreement, in form and substance satisfactory to Agent, duly executed by the applicable Bank Product Provider, Borrowers, and Agent. 

“Bank Product Reserves” means, as of any date of determination, those reserves that Agent deems necessary to establish (based
upon the Bank Product Providers’ reasonable determination of the liabilities 

  
 -3- 

 
and obligations of each Borrower and its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding; provided that the Agent shall
provide written detail of such determination to the Borrowers prior to instituting any Bank Product Reserves, but a non-willful failure of Agent to so notify Borrowers shall not be a breach of this Agreement and shall not cause such establishment or
increase of such Bank Product Reserve to be ineffective. 
 “Bankruptcy Code” means Title 11 of the United States Code, as
in effect from time to time. 
 “Base Rate” means the greatest of (a) the Federal Funds Rate plus  1⁄2, (b) the LIBOR Rate (which rate shall be calculated based upon an Interest Period of 1 month and shall be determined on a daily basis), plus 1 percentage
point, and (c) the rate of interest announced, from time to time, within Wells Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that the “prime rate” is one of Wells Fargo’s
base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such
internal publications as Wells Fargo may designate. 
 “Base Rate Loan” means each portion of the Revolving Loans or the
Term Loan that bears interest at a rate determined by reference to the Base Rate. 
 “Base Rate Margin” has the meaning set
forth in the definition of Applicable Margin. 
 “Benefit Plan” means a “defined benefit plan” (as defined in
Section 3(35) of ERISA) for which any Borrower or any of its Subsidiaries or ERISA Affiliates has been an “employer” (as defined in Section 3(5) of ERISA) within the past six years. 

“Board of Directors” means, as to any Person, the board of directors (or comparable managers) of such Person, or any
committee thereof duly authorized to act on behalf of the board of directors (or comparable managers). 
 “Board of
Governors” means the Board of Governors of the Federal Reserve System of the United States (or any successor). 

“Borrower” and “Borrowers” have the respective meanings specified therefor in the preamble to the Agreement.

 “Borrower Materials” has the meaning specified therefor in Section 17.9(c) of the Agreement. 

“Borrowing” means a borrowing consisting of Revolving Loans made on the same day by the Lenders (or Agent on behalf thereof),
or by Swing Lender in the case of a Swing Loan, or by Agent in the case of a Protective Advance. 
 “Business Day” means
any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to close in the state of New York, except that, if a determination of a Business Day shall relate to a LIBOR Rate Loan, the term “Business Day”
also shall exclude any day on which banks are closed for dealings in Dollar deposits in the London interbank market. 
 “Capital
Expenditures” means, with respect to any Person for any period, the amount of all expenditures by such Person and its Subsidiaries during such period that are capital expenditures as determined in accordance with GAAP, whether such
expenditures are paid in cash or financed, but excluding, without duplication (a) expenditures made during such period in connection with the replacement, substitution, or restoration of assets or properties pursuant to
Section 2.4(e)(ii) of the Agreement, (b) with respect to the purchase price of assets that are purchased substantially contemporaneously with the trade-in of existing assets during such period, the amount that the gross amount of
such purchase price is reduced by the credit granted by the seller of such assets for the assets being traded in at such time, (c) expenditures made during such period to 

  
 -4- 

 
consummate one or more Permitted Acquisitions, (d) expenditures made during such period to the extent made with the identifiable proceeds of an equity investment in a Borrower or any of its
Subsidiaries by Sponsor which equity investment is made substantially contemporaneously with the making of the expenditure, (e) capitalized software development costs to the extent such costs are deducted from net earnings under the definition
of EBITDA for such period, and (f) expenditures during such period that, pursuant to a written agreement, are reimbursed by a third Person (excluding any Borrower or any of its Affiliates). 

“Capitalized Lease Obligation” means that portion of the obligations under a Capital Lease that is required to be capitalized
in accordance with GAAP. 
 “Capital Lease” means a lease that is required to be capitalized for financial reporting
purposes in accordance with GAAP. 
 “Cash Equivalents” means (a) marketable direct obligations issued by, or
unconditionally guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year from the date of acquisition thereof, (b) marketable direct
obligations issued or fully guaranteed by any state of the United States or any political subdivision of any such state or any public instrumentality thereof maturing within 1 year from the date of acquisition thereof and, at the time of
acquisition, having one of the two highest ratings obtainable from either Standard & Poor’s Rating Group (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”), (c) commercial paper
maturing no more than 270 days from the date of creation thereof and, at the time of acquisition, having a rating of at least A-1 from S&P or at least P-1 from Moody’s, (d) certificates of deposit, time deposits, overnight bank
deposits or bankers’ acceptances maturing within 1 year from the date of acquisition thereof issued by any bank organized under the laws of the United States or any state thereof or the District of Columbia or any United States branch of a
foreign bank having at the date of acquisition thereof combined capital and surplus of not less than $1,000,000,000, (e) Deposit Accounts maintained with (i) any bank that satisfies the criteria described in clause (d) above, or
(ii) any other bank organized under the laws of the United States or any state thereof so long as the full amount maintained with any such other bank is insured by the Federal Deposit Insurance Corporation, (f) repurchase obligations of
any commercial bank satisfying the requirements of clause (d) of this definition or recognized securities dealer having combined capital and surplus of not less than $1,000,000,000, having a term of not more than seven days, with respect to
securities satisfying the criteria in clauses (a) or (d) above, (g) debt securities with maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any commercial bank satisfying the
criteria described in clause (d) above, and (h) Investments in money market funds substantially all of whose assets are invested in the types of assets described in clauses (a) through (g) above. 

“Cash Management Services” means any cash management or related services including treasury, depository, return items,
overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network, automatic clearing house transfer (including the Automated Clearing House processing of electronic funds
transfers through the direct Federal Reserve Fedline system) and other customary cash management arrangements. 
 “CFC”
means a controlled foreign corporation (as that term is defined in the IRC). 
 “Change of Control” means that: 

(a) (i) Sponsor fails to own and control, directly or indirectly, 30% or more (ii) Permitted Holders fail to own and control,
directly or indirectly, 50.1%, or more, or (iii) any other “person” or “group” (within the meaning of Section 13(d) and 14(d) of the Exchange Act) owns more than Sponsor, of the Equity Interests of Administrative
Borrower entitled (without regard to the occurrence of any contingency) to vote for the election of members of the Board of Directors of Administrative Borrower, 

  
 -5- 

 (b) any “person” or “group” (within the meaning of Sections 13(d) and 14(d)
of the Exchange Act), other than Permitted Holders, becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 30%, or more, of the Equity Interests of Administrative Borrower entitled (without regard
to the occurrence of any contingency) to vote for the election of members of the Board of Directors of Administrative Borrower, 
 (c) a
majority of the members of the Board of Directors of Administrative Borrower do not constitute Continuing Directors, or 
 (d)
Administrative Borrower fails to own and control, directly or indirectly, 100% of the Equity Interests of each other Loan Party. 

“Change in Law” means the occurrence after the date of the Agreement of: (a) the adoption or effectiveness of any law,
rule, regulation, judicial ruling, judgment or treaty, (b) any change in any law, rule, regulation, judicial ruling, judgment or treaty or in the administration, interpretation, implementation or application by any Governmental Authority of any
law, rule, regulation, guideline or treaty, or (c) the making or issuance by any Governmental Authority of any request, rule, guideline or directive, whether or not having the force of law; provided that notwithstanding anything in the
Agreement to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or
directives concerning capital adequacy promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities shall, in each
case, be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued. 
 “Closing Date”
means the date of the making of the initial Revolving Loan (or other extension of credit) under the Agreement. 
 “Code”
means the New York Uniform Commercial Code, as in effect from time to time. 
 “Collateral” means all assets and interests
in assets and proceeds thereof now owned or hereafter acquired by any Borrower or its Subsidiaries in or upon which a Lien is granted by such Person in favor of Agent or the Lenders under any of the Loan Documents. 

“Commitment” means, with respect to each Lender, its Revolver Commitment or its Term Loan Commitment, as the context
requires, and, with respect to all Lenders, their Revolver Commitments or their Term Loan Commitments, as the context requires, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on
Schedule C-1 to the Agreement or in the Assignment and Acceptance pursuant to which such Lender became a Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with
the provisions of Section 13.1 of the Agreement. 
 “Compliance Certificate” means a certificate substantially
in the form of Exhibit C-1 to the Agreement delivered by the chief financial officer of Administrative Borrower to Agent. 

“Confidential Information” has the meaning specified therefor in Section 17.9(a) of the Agreement. 

“Continuing Director” means (a) any member of the Board of Directors who was a director (or comparable manager) of
Administrative Borrower on the Closing Date, and (b) any individual who becomes a member of the Board of Directors after the Closing Date if such individual was approved, appointed or nominated for election to the Board of Directors by either
the Permitted Holders or a majority of the Continuing Directors, but excluding any such individual originally proposed for election in opposition to the Board of Directors in office at the Closing Date in an actual or threatened election contest
relating to the election of the directors (or comparable managers) of Administrative Borrower and whose initial assumption of office resulted from such contest or the settlement thereof. 

  
 -6- 

 “Control Agreement” means a control agreement, in form and substance reasonably
satisfactory to Agent, executed and delivered by a Borrower or one of its Subsidiaries, Agent, and the applicable securities intermediary (with respect to a Securities Account) or bank (with respect to a Deposit Account). 

“Copyright Security Agreement” has the meaning specified therefor in the Guaranty and Security Agreement. 

“Curative Equity” means the net amount of common equity contributions made by Sponsor to Borrowers in immediately available
funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or
otherwise) shall not constitute Curative Equity. 
 “Current Assets” means, as at any date of determination, the total
assets of Borrowers and their Subsidiaries (other than cash and Cash Equivalents) which may properly be classified as current assets on a consolidated balance sheet of Borrowers and their Subsidiaries in accordance with GAAP. 

“Current Liabilities” means, as at any date of determination, the total liabilities of Borrowers and their Subsidiaries which
may properly be classified as current liabilities (other than the current portion of the Term Loan, the Swing Loans and the Revolving Loans) on a consolidated balance sheet of Borrowers and their Subsidiaries in accordance with GAAP. 

“Default” means an event, condition, or default that, with the giving of notice, the passage of time, or both, would be an
Event of Default. 
 “Defaulting Lender” means any Lender that (a) has failed to fund any amounts required to be
funded by it under the Agreement within 1 Business Day of the date that it is required to do so under the Agreement (including the failure to make available to Agent amounts required pursuant to a Settlement or to make a required payment in
connection with a Letter of Credit Disbursement), (b) notified Borrowers, Agent, or any Lender in writing that it does not intend to comply with all or any portion of its funding obligations under the Agreement, (c) has made a public
statement to the effect that it does not intend to comply with its funding obligations under the Agreement or under other agreements generally (as reasonably determined by Agent) under which it has committed to extend credit, (d) failed, within
1 Business Day after written request by Agent, to confirm that it will comply with the terms of the Agreement relating to its obligations to fund any amounts required to be funded by it under the Agreement, (e) otherwise failed to pay over to
Agent or any other Lender any other amount required to be paid by it under the Agreement within 1 Business Day of the date that it is required to do so under the Agreement, or (f) (i) becomes or is insolvent or has a parent company that
has become or is insolvent or (ii) becomes the subject of a bankruptcy or Insolvency Proceeding, or has had a receiver, conservator, trustee, or custodian or appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or Insolvency Proceeding, or has had a receiver, conservator, trustee, or custodian appointed for it, or has
taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment. 

“Defaulting Lender Rate” means (a) for the first 3 days from and after the date the relevant payment is due, the Base
Rate, and (b) thereafter, the interest rate then applicable to Revolving Loans that are Base Rate Loans (inclusive of the Base Rate Margin applicable thereto). 

“Deposit Account” means any deposit account (as that term is defined in the Code). 

  
 -7- 

 “Designated Account” means the Deposit Account of Administrative Borrower
identified on Schedule D-1 to the Agreement (or such other Deposit Account of Administrative Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrowers to Agent). 

“Designated Account Bank” has the meaning specified therefor in Schedule D-1 to the Agreement (or such other bank that
is located within the United States that has been designated as such, in writing, by Borrowers to Agent). 
 “Disqualified Equity
Interests” shall mean any Equity Interest that, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition
(a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders
thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is
redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for
Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 180 days after the Maturity Date. 

“Dollars” or “$” means United States dollars. 

“Drawing Document” means any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit.

 “Earn-Outs” shall mean unsecured liabilities of a Loan Party arising under an agreement to make any deferred payment as
a part of the Purchase Price for a Permitted Acquisition, including performance bonuses or consulting payments in any related services, employment or similar agreement, in an amount that is subject to or contingent upon the revenues, income, cash
flow or profits (or the like) of the target of such Permitted Acquisition. 
 “EBITDA” means, with respect to any fiscal
period: 
 (a) Borrowers’ consolidated net earnings (or loss), 

minus 

(b) without duplication, the sum of the following amounts of Borrowers for such period to the extent included in determining consolidated net
earnings (or loss) for such period: 
 (i) any extraordinary, unusual, or non-recurring gains, 

(ii) interest income, 
 (iii)
any software development, labor, or commission/incentive costs to the extent capitalized during such period, 
 (iv) exchange, translation
or performance gains relating to any hedging transactions or foreign currency fluctuations, and 
 (v) income arising by reason of the
application of FAS 141R, 
 plus 

  
 -8- 

 (c) without duplication, the sum of the following amounts of Borrowers for such period to the
extent included in determining consolidated net earnings (or loss) for such period: 
 (i) any extraordinary, unusual, or non-recurring
non-cash losses, 
 (ii) Interest Expense, 

(iii) tax expense based on income, profits or capital, including federal, foreign, state, franchise and similar taxes (and for the avoidance
of doubt, specifically excluding any sales taxes or any other taxes held in trust for a Governmental Authority), 
 (iv) depreciation and
amortization for such period, 
 (v) (A) with respect to the Merger, costs, reasonable fees to Persons (other than any Borrower, Sponsor or
any of their Affiliates), charges, or expenses incurred in connection therewith prior to, on or within 180 days of the Closing Date; provided that the amounts necessary to pay all of such costs, fees, charges, or expenses are actually funded
on the Closing Date as reflected in the sources and uses delivered to Agent that is acceptable to Agent; provided further that (i) the amounts necessary to pay all of such costs, fees, charges, or expenses are actually funded on the
Closing Date or (ii) such amounts do not exceed $1,750,000 in the aggregate (including the one-time transaction fee payable to the Sponsor in accordance with Section 6.10(d)) and are paid within 185 days of the Closing Date,
(B) with respect to any Permitted Acquisition after the Closing Date, costs, fees, charges, or expenses consisting of out-of-pocket expenses owed by Borrowers or any of their Subsidiaries to any Person for services performed by such Person in
connection with such Permitted Acquisition incurred within 180 days of the consummation of such Permitted Acquisition, (i) up to an aggregate amount (for all such items in this clause (B)) for such Permitted Acquisition not to exceed the
greater of (1) $1,500,000 and (2) 5.0% of the Purchase Price of such Permitted Acquisition and (ii) in any amount to the extent such costs, fees, charges, or expenses in this clause (B) are paid with proceeds of new equity
investments in exchange for Qualified Equity Interests of Administrative Borrower contemporaneously made by Permitted Holders, 
 (vi) (A)
with respect to the Merger: (1) purchase accounting adjustments, including, without limitation, a dollar for dollar adjustment for that portion of revenue that would have been recorded in the relevant period had the balance of deferred revenue
(unearned income) recorded on the closing balance sheet and before application of purchase accounting not been adjusted downward to fair value to be recorded on the opening balance sheet in accordance with GAAP purchase accounting rules; and
(2) non-cash adjustments in accordance with GAAP purchase accounting rules under FASB Statement No. 141 and EITF Issue No. 01-3, in the event that such an adjustment is required by Borrowers’ independent auditors, in each case,
as determined in accordance with GAAP; and (B) with respect to any Permitted Acquisitions after the Closing Date: (1) purchase accounting adjustments, including, without limitation, a dollar for dollar adjustment for that portion of
revenue that would have been recorded in the relevant period had the balance of deferred revenue (unearned income) recorded on the closing balance sheet and before application of purchase accounting not been adjusted downward to fair value to be
recorded on the opening balance sheet in accordance with GAAP purchase accounting rules; and (2) non-cash adjustments in accordance with GAAP purchase accounting rules under FASB Statement No. 141 and EITF Issue No. 01-3, in the event
that such an adjustment is required by Borrowers’ independent auditors, in each case, as determined in accordance with GAAP, 
 (vii)
fees, costs, charges and expenses, in respect of Earn-Outs incurred in connection with any Permitted Acquisition to the extent permitted to be incurred under the Agreement that are required by the application of FAS 141R to be and are expensed by
Borrowers and their Subsidiaries, 
 (viii) non-cash compensation expense (including deferred non-cash compensation expense), or other
non-cash expenses or charges, arising from the sale or issuance of Equity Interests, the granting of stock options, and the granting of stock appreciation rights and similar arrangements (including any repricing, amendment, modification,
substitution, or change of any such Equity Interests, stock option, stock appreciation rights, or similar arrangements) minus the amount of any such expenses or charges when paid in cash to the extent not deducted in the computation of net
earnings (or loss), 

  
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 (ix) one time non-cash restructuring charges, 

(x) non-cash exchange, translation, or performance losses relating to any hedging transactions or foreign currency fluctuations, 

(xi) non-cash losses on sales of fixed assets or write-downs of fixed or intangible assets, 

(xii) the difference between the balance of deferred revenue associated with implementation of the Borrowers on a consolidated basis at the
end of such period and the balance of deferred revenue associated with implementation of the Borrowers on a consolidated basis at the beginning of such period (which difference may be negative), and 

(xiii) the difference between the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the end of
such period and the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the beginning of such period (which difference may be negative), 

in each case, determined on a consolidated basis in accordance with GAAP. 

For the purposes of calculating EBITDA for any period of 4 consecutive fiscal quarters (each, a “Reference Period”),
(a) if at any time during such Reference Period (and after the Closing Date), any Borrower or any of its Subsidiaries shall have made a Permitted Acquisition, EBITDA for such Reference Period shall be calculated after giving pro forma
effect thereto (including pro forma adjustments arising out of events which are directly attributable to such Permitted Acquisition, are factually supportable, and are expected to have a continuing impact, in each case to be mutually and
reasonably agreed upon by Borrowers and Agent) or in such other manner acceptable to Agent as if any such Permitted Acquisition or adjustment occurred on the first day of such Reference Period, and (b) EBITDA for the fiscal quarter ended
June 30, 2013, shall be deemed to be $-258,317 and (c) EBITDA for the fiscal quarter ended September 30, 2013, shall be deemed to be $-1,374,215. 

“Employee Benefit Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA, whether or not
subject to ERISA, (a) that is or within the preceding six (6) years has been sponsored, maintained or contributed to by any Loan Party or ERISA Affiliate or (b) to which any Loan Party or ERISA Affiliate has, or has had at any time
within the preceding six (6) years, any liability, contingent or otherwise. 
 “Environmental Action” means any
written complaint, summons, citation, notice, directive, order, claim, litigation, investigation, judicial or administrative proceeding, judgment, letter, or other written communication from any Governmental Authority, or any third party involving
violations of Environmental Laws or releases of Hazardous Materials (a) from any assets, properties, or businesses of any Borrower, any Subsidiary of any Borrower, or any of their predecessors in interest, (b) from adjoining properties or
businesses, or (c) from or onto any facilities which received Hazardous Materials generated by any Borrower, any Subsidiary of any Borrower, or any of their predecessors in interest. 

“Environmental Law” means any applicable federal, state, provincial, foreign or local statute, law, rule, regulation,
ordinance, code, binding and enforceable guideline, binding and enforceable written policy, or rule of common law now or hereafter in effect and in each case as amended, or any judicial or administrative interpretation thereof, including any
judicial or administrative order, consent decree or judgment, in each case, to the extent binding on any Borrower or its Subsidiaries, relating to the environment, the effect of the environment on employee health, or Hazardous Materials, in each
case as amended from time to time. 

  
 -10- 

 “Environmental Liabilities” means all liabilities, monetary obligations, losses,
damages, costs and expenses (including all reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any
claim or demand, or Remedial Action required, by any Governmental Authority or any third party, and which relate to any Environmental Action. 

“Environmental Lien” means any Lien in favor of any Governmental Authority for Environmental Liabilities. 

“Equipment” means equipment (as that term is defined in the Code). 

“Equity Interest” means, with respect to a Person, all of the shares, options, warrants, interests, participations, or other
equivalents (regardless of how designated) of or in such Person, whether voting or nonvoting, including capital stock (or other ownership or profit interests or units), preferred stock, or any other “equity security” (as such term is
defined in Rule 3a11-1 of the General Rules and Regulations promulgated by the SEC under the Exchange Act). 
 “ERISA”
means the Employee Retirement Income Security Act of 1974, as amended, and any successor statutes, and all regulations and guidance promulgated thereunder. Any reference to a specific section of ERISA shall be deemed to be a reference to such
section of ERISA and any successor statutes, and all regulations and guidance promulgated thereunder. 
 “ERISA Affiliate”
means each entity, trade or business (whether or not incorporated) that together with a Loan Party or a Subsidiary would be (or has been) treated as a “single employer” within the meaning of section 4001(b)(1) of ERISA or subsections (b),
(c), (m) or (o) of section 414 of the IRC. ERISA Affiliate shall include any Subsidiary of any Loan Party. 
 “Event of
Default” has the meaning specified therefor in Section 8 of the Agreement. 
 “Excess Cash Flow”
means, with respect to any fiscal period and with respect to Borrowers determined on a consolidated basis in accordance with GAAP the result of: 

(a) TTM EBITDA, 
 plus

 (b) the sum of 

(i) foreign, United States, state, or local tax refunds, 

(ii) interest income, 

(iii) post-closing Purchase Price adjustments received in cash during such period in connection with a Permitted Acquisition,
and 
 (iv) the amount of any decrease in Net Working Capital for such period, 

minus 
 (c) the sum of

 (i) the cash portion of Interest Expense and loan servicing fees paid during such fiscal period, 

  
 -11- 

 (ii) the cash portion of taxes (on account of income, profits, or capital) paid
during such period, 
 (iii) all scheduled principal payments permitted under the Agreement during such period, 

(iv) the cash portion of Capital Expenditures (net of (y) any proceeds reinvested in accordance with the proviso to
Section 2.4(e)(ii) of the Agreement, and (z) any proceeds of related financings with respect to such expenditures) made during such period, 

(v) management fees paid in cash during such period (other than any management fees paid with the proceeds of an equity
investment in any Borrower and its Subsidiaries by Sponsor or other then existing shareholders of such Borrower), 
 (vi)
cash payments made in respect of Permitted Acquisitions (in each case, to the extent such payments are not made with the proceeds of Indebtedness (other than Revolving Loans or equity contributions made by Sponsor), 

(vii) the amount of cash items included in the calculation of EBITDA pursuant to clauses (c)(v)(A)(ii) and (c)(vii) of the
definition of EBITDA for such period (to the extent that the applicable payments are not made with the proceeds of Indebtedness (other than proceeds of Revolving Loans) or equity contributions made by Sponsor), 

(viii) the distributed earnings of a Borrower or any one of its Subsidiaries to the extent that the declaration or payment of
dividends or similar distributions by such Borrower or such Subsidiary is permitted under the Agreement, 
 (ix) the amount
of any increase in Net Working Capital for such period, 
 (x) any non-cash purchase accounting adjustments with respect to
the Merger Agreement or a Permitted Acquisition added to Borrowers’ net income (or loss) pursuant to clauses (c)(vi)(A)(2) and (c)(vi)(B)(2) of the definition of EBITDA, 

(xi) the difference between the balance of deferred revenue associated with implementation of the Borrowers on a consolidated
basis at the end of such period and the balance of deferred revenue associated with implementation of the Borrowers on a consolidated basis at the beginning of such period (which difference may be negative), and 

(xii) the difference between the balance of deferred revenue in connection with the Maryland State Advantage perpetual license
at the end of such period and the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the beginning of such period (which difference may be negative). 

“Exchange Act” means the Securities Exchange Act of 1934, as in effect from time to time. 

“Excluded Taxes” means (i) any tax imposed on the net income or net profits of any Lender or any Participant (including
any branch profits taxes), in each case imposed by the jurisdiction (or by any political subdivision or taxing authority thereof) in which such Lender or such Participant is organized or the jurisdiction (or by any political subdivision or taxing
authority thereof) in which such Lender’s or such Participant’s principal office is located in each case as a result of a present or former connection between such Lender or such Participant and the jurisdiction or taxing authority
imposing the tax (other than any such connection arising solely from such Lender or such Participant having executed, delivered or performed its obligations or received payment under, or enforced its rights or remedies under the Agreement or any
other Loan Document); (ii) taxes resulting from a Lender’s or a Participant’s failure to comply with the requirements of Section 16.2 of the 

  
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Agreement, and (iii) any United States federal withholding taxes that would be imposed on amounts payable to a Foreign Lender based upon the applicable withholding rate in effect at the time
such Foreign Lender becomes a party to the Agreement (or designates a new lending office), except that Taxes shall include (A) any amount that such Foreign Lender (or its assignor, if any) was previously entitled to receive pursuant to
Section 16.1 of the Agreement, if any, with respect to such withholding tax at the time such Foreign Lender becomes a party to the Agreement (or designates a new lending office), and (B) additional United States federal withholding
taxes that may be imposed after the time such Foreign Lender becomes a party to the Agreement (or designates a new lending office), as a result of a change in law, rule, regulation, order or other decision with respect to any of the foregoing by any
Governmental Authority. 
 “Existing Credit Facility” means the credit facility issued under the Amended and Restated Loan
and Security Agreement, dated as of September 29, 2009 between Connecture and Comerica Bank. 
 “Extraordinary
Receipts” means (a) so long as no Event of Default has occurred and is continuing, proceeds of judgments, proceeds of settlements, or other consideration of any kind received in connection with any cause of action or claim, and
(b) if an Event of Default has occurred and is continuing, any payments received by any Borrower or any of its Subsidiaries not in the ordinary course of business (and not consisting of proceeds described in Section 2.4(e)(ii) of
the Agreement) consisting of (i) proceeds of judgments, proceeds of settlements, or other consideration of any kind received in connection with any cause of action or claim, (ii) indemnity payments (other than to the extent such indemnity
payments are immediately payable to a Person that is not an Affiliate of any Borrower or any of its Subsidiaries, and (iii) any purchase price adjustment received in connection with any purchase agreement. 

“Fee Letter” means that certain fee letter, dated as of even date with the Agreement, among Borrowers and Agent, in form and
substance reasonably satisfactory to Agent. 
 “Federal Funds Rate” means, for any period, a fluctuating interest rate per
annum equal to, for each day during such period, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day
by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by Agent from three Federal funds brokers of recognized
standing selected by it. 
 “Fixed Charges” means, with respect to any fiscal period and with respect to Borrowers
determined on a consolidated basis in accordance with GAAP, the sum, without duplication, of (a) Interest Expense accrued (other than interest paid-in-kind, amortization of financing fees, and other non-cash Interest Expense) during such
period, (b) principal payments in respect of Indebtedness that are required to be paid during such period, (c) all federal, state, and local income taxes accrued during such period, (d) all Restricted Payments paid (whether in cash or
other property, other than Equity Interest) during such period and (e) any Earn-Outs that are paid in cash during such period. 

“Fixed Charge Coverage Ratio” means, with respect to any fiscal period and with respect to Borrowers determined on a
consolidated basis in accordance with GAAP, the ratio of (a) EBITDA for such period minus Capital Expenditures (excluding Capital Expenditures financed with (y) any proceeds reinvested in accordance with the proviso to
Section 2.4(e)(ii) of the Agreement, and (z) any proceeds of related financings with respect to such expenditures) made during such period, to (b) Fixed Charges for such period. 

“Flow of Funds Agreement” means a flow of funds agreement, dated as of even date herewith, in form and substance reasonably
satisfactory to Agent, executed and delivered by each Loan Party and Agent. 
 “Foreign Lender” means any Lender or
Participant that is not a United States person within the meaning of IRC section 7701(a)(30). 

  
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 “Funded Indebtedness” means, as of any date of determination, all Indebtedness
for borrowed money or letters of credit of Borrowers, determined on a consolidated basis in accordance with GAAP, that by its terms matures more than one year after the date of determination, and any such Indebtedness maturing within one year from
such date that is renewable or extendable at the option of any Borrower or its Subsidiaries, as applicable, to a date more than one year from such date, including, in any event, but without duplication, with respect to Borrowers and their
Subsidiaries, the Revolver Usage, the Term Loan, and the amount of their Capitalized Lease Obligations. 
 “Funding Date”
means the date on which a Borrowing occurs. 
 “Funding Losses” has the meaning specified therefor in
Section 2.12(b)(ii) of the Agreement. 
 “GAAP” means generally accepted accounting principles as in effect
from time to time in the United States, consistently applied. 
 “Governing Documents” means, with respect to any Person,
the certificate or articles of incorporation, by-laws, or other organizational documents of such Person. 
 “Governmental
Authority” means the government of any nation or any political subdivision thereof, whether at the national, state, territorial, provincial, municipal or any other level, and any agency, authority, instrumentality, regulatory body, court,
central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of, or pertaining to, government (including any supra-national bodies such as the European Union or the European
Central Bank). 
 “Guarantor” means (a) each Subsidiary of each Borrower and (b) each other Person that becomes a
guarantor after the Closing Date pursuant to Section 5.11 of the Agreement. 
 “Guaranty and Security
Agreement” means a guaranty and security agreement, dated as of even date with the Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by each of the Borrowers and each of the Guarantors to Agent. 

“Harbert Capital Facility” means the term loan facility issued under the Harbert Loan and Security Agreement. 

“Harbert Loan and Security Agreement” means (i) that certain Loan and Security Agreement, dated as of February 16,
2011 among Connecture, Connecture RWS, LLC, a Delaware limited liability company, Connecture Holdings, LLC, a Delaware limited liability company, Insurix and Harbert Mezzanine Partners II SBIC, L.P. and (ii) each loan or credit agreement
evidencing any initial or subsequent replacement, substitution, renewal or refinancing of the obligations under the such Harbert Loan and Security Agreement, in each case as the same may be amended, restated, supplemented, modified, replaced,
substituted, renewed or refinanced from time to time as permitted under the terms of the Subordination Agreement and this Agreement. 

“Hazardous Materials” means (a) substances that are defined or listed in, or otherwise classified pursuant to, any
applicable laws or regulations as “hazardous substances,” “hazardous materials,” “hazardous wastes,” “toxic substances,” or any other formulation intended to define, list, or classify substances by reason of
deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity, reproductive toxicity, or “EP toxicity”, (b) oil, petroleum, or petroleum derived substances, natural gas, natural gas liquids, synthetic gas,
drilling fluids, produced waters, and other wastes associated with the exploration, development, or production of crude oil, natural gas, or geothermal resources, (c) any flammable substances or explosives or any radioactive materials, and
(d) asbestos in any form or electrical equipment that contains any oil or dielectric fluid containing levels of polychlorinated biphenyls in excess of 50 parts per million. 

“Hedge Agreement” means a “swap agreement” as that term is defined in Section 101(53B)(A) of the Bankruptcy
Code. 

  
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 “Hedge Obligations” means any and all obligations or liabilities, whether
absolute or contingent, due or to become due, now existing or hereafter arising, of each Borrower and its Subsidiaries arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more of the Hedge Providers.

 “Hedge Provider” means Wells Fargo or any of its Affiliates. 

“Indebtedness” as to any Person means (a) all obligations of such Person for borrowed money, (b) all obligations of
such Person evidenced by bonds, debentures, notes, or other similar instruments and all reimbursement or other obligations in respect of letters of credit, bankers acceptances, or other financial products, (c) all obligations of such Person as
a lessee under Capital Leases, (d) all obligations or liabilities of others secured by a Lien on any asset of such Person, irrespective of whether such obligation or liability is assumed, (e) all obligations of such Person to pay the
deferred purchase price of assets (other than trade payables incurred in the ordinary course of business and repayable in accordance with customary trade practices and, for the avoidance of doubt, other than royalty payments payable in the ordinary
course of business in respect of non-exclusive licenses), (f) all monetary obligations of such Person owing under Hedge Agreements (which amount shall be calculated based on the amount that would be payable by such Person if the Hedge Agreement
were terminated on the date of determination), (g) any Disqualified Equity Interests of such Person, and (h) any obligation of such Person guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co-made,
discounted, or sold with recourse) any obligation of any other Person that constitutes Indebtedness under any of clauses (a) through (g) above. For purposes of this definition, (i) the amount of any Indebtedness represented by a
guaranty or other similar instrument shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument
embodying such Indebtedness, and (ii) the amount of any Indebtedness which is limited or is non-recourse to a Person or for which recourse is limited to an identified asset shall be valued at the lesser of (A) if applicable, the limited
amount of such obligations, and (B) if applicable, the fair market value of such assets securing such obligation. 

“Indemnified Liabilities” has the meaning specified therefor in Section 10.3 of the Agreement. 

“Indemnified Person” has the meaning specified therefor in Section 10.3 of the Agreement. 

“Indemnified Taxes” means, any Taxes other than Excluded Taxes. 

“Insolvency Proceeding” means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or
under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other
similar relief. 
 “Interest Expense” means, for any period, the aggregate of the interest expense of Borrowers for such
period, determined on a consolidated basis in accordance with GAAP. 
 “Interest Period” means, with respect to each LIBOR
Rate Loan, a period commencing on the date of the making of such LIBOR Rate Loan (or the continuation of a LIBOR Rate Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1, 2, 3 , or 6 months thereafter or, if agreed to by
all Lenders, 9 or 12 months thereafter; provided, that (a) interest shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but excluding, the day on which any Interest
Period expires, (b) any Interest Period that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall
end on the next preceding Business Day, (c) with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period), the Interest Period shall end on the last Business Day of the calendar month that is 1, 2, 3, 6, 9, or 12 months after the date on which the Interest Period began, as applicable, and (d) Borrowers may not elect an Interest
Period which will end after the Maturity Date. 

  
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 “Investment” means, with respect to any Person, any investment by such Person in
any other Person (including Affiliates) in the form of loans, guarantees, advances, capital contributions (excluding (a) commission, travel, and similar advances to officers and employees of such Person made in the ordinary course of business,
and (b) bona fide accounts receivable arising in the ordinary course of business), or acquisitions of Indebtedness, Equity Interests, or all or substantially all of the assets of such other Person (or of any division or business line of
such other Person), and any other items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. The amount of any Investment shall be the original cost of such Investment plus the cost of all additions
thereto, without any adjustment for increases or decreases in value, or write-ups, write-downs, or write-offs with respect to such Investment. 

“IRC” means the Internal Revenue Code of 1986, as amended, and any successor statutes, and all regulations and guidance
promulgated thereunder. Any reference to a specific section of the IRC shall be deemed to be a reference to such section of the IRC and any successor statutes, and all regulations and guidance promulgated thereunder. 

“ISP” means, with respect to any Letter of Credit, the International Standby Practices 1998 (International Chamber of
Commerce Publication No. 590) and any subsequent revision thereof adopted by the International Chamber of Commerce on the date such Letter of Credit is issued. 

“Issuer Document” means, with respect to any Letter of Credit, a letter of credit application, a letter of credit agreement,
or any other document, agreement or instrument entered into (or to be entered into) by a Borrower in favor of Issuing Bank and relating to such Letter of Credit. 

“Issuing Bank” means Wells Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent, agrees,
in such Lender’s sole discretion, to become an Issuing Bank for the purpose of issuing Letters of Credit pursuant to Section 2.11 of the Agreement, and Issuing Bank shall be a Lender. 

“Lender” has the meaning set forth in the preamble to the Agreement, shall include Issuing Bank and the Swing Lender, and
shall also include any other Person made a party to the Agreement pursuant to the provisions of Section 13.1 of the Agreement and “Lenders” means each of the Lenders or any one or more of them. 

“Lender Group” means each of the Lenders (including Issuing Bank and the Swing Lender) and Agent, or any one or more of them.

 “Lender Group Expenses” means all (a) costs or expenses (including taxes and insurance premiums) required to be
paid by any Borrower or its Subsidiaries under any of the Loan Documents that are paid, advanced, or incurred by the Lender Group, (b) reasonable, documented out-of-pocket fees or charges paid or incurred by Agent in connection with the Lender
Group’s transactions with each Borrower and its Subsidiaries under any of the Loan Documents, including, photocopying, notarization, couriers and messengers, telecommunication, public record searches, filing fees, recording fees, publication,
real estate surveys, real estate title policies and endorsements, and environmental audits, (c) Agent’s customary fees and charges imposed or incurred in connection with any background checks or OFAC/PEP searches related to any Borrower or
its Subsidiaries, (d) Agent’s customary fees and charges (as adjusted from time to time) with respect to the disbursement of funds (or the receipt of funds) to or for the account of any Borrower (whether by wire transfer or otherwise),
together with any out-of-pocket costs and expenses incurred in connection therewith, (e) customary charges imposed or incurred by Agent resulting from the dishonor of checks payable by or to any Loan Party, (f) reasonable documented
out-of-pocket costs and expenses paid or incurred by the Lender Group to correct any default or enforce any provision of the Loan Documents, or during the continuance of an Event of Default, in gaining possession of, maintaining, handling,
preserving, storing, shipping, selling, preparing for 

  
 -16- 

 
sale, or advertising to sell the Collateral, or any portion thereof, irrespective of whether a sale is consummated, (g) financial examination, appraisal, and valuation fees and expenses of
Agent related to any financial examinations, appraisals, or valuation to the extent of the fees and charges (and up to the amount of any limitation) provided in Section 2.10 of the Agreement, (h) Agent’s reasonable costs and
expenses (including reasonable documented attorneys fees and expenses) relative to third party claims or any other lawsuit or adverse proceeding paid or incurred, whether in enforcing or defending the Loan Documents or otherwise in connection with
the transactions contemplated by the Loan Documents, Agent’s Liens in and to the Collateral, or the Lender Group’s relationship with any Borrower or any of its Subsidiaries, (i) Agent’s reasonable documented costs and expenses
(including reasonable documented attorneys fees and due diligence expenses) incurred in advising, structuring, drafting, reviewing, administering (including travel, meals, and lodging), syndicating (including reasonable costs and expenses relative
to the rating of the Term Loan, CUSIP, DXSyndicateTM, SyndTrak or other communication costs incurred in connection with a syndication of the loan facilities), or amending, waiving, or modifying the Loan Documents, and (j) Agent’s and
each Lender’s reasonable documented costs and expenses (including reasonable documented attorneys, accountants, consultants, and other advisors fees and expenses) incurred in terminating, enforcing (including attorneys, accountants,
consultants, and other advisors fees and expenses incurred in connection with a “workout,” a “restructuring,” or an Insolvency Proceeding concerning any Borrower or any of its Subsidiaries or in exercising rights or remedies
under the Loan Documents), or defending the Loan Documents, irrespective of whether a lawsuit or other adverse proceeding is brought, or in taking any enforcement action or any Remedial Action with respect to the Collateral. 

“Lender Group Representatives” has the meaning specified therefor in Section 17.9 of the Agreement. 

“Lender-Related Person” means, with respect to any Lender, such Lender, together with such Lender’s Affiliates,
officers, directors, employees, attorneys, and agents. 
 “Letter of Credit” means a letter of credit (as that term is
defined in the Code) issued by Issuing Bank. 
 “Letter of Credit Collateralization” means either (a) providing cash
collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement
(including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105%of the then existing Letter of Credit Usage,
(b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of
Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter
of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be
drawn under any such standby letter of credit). 
 “Letter of Credit Disbursement” means a payment made by Issuing Bank
pursuant to a Letter of Credit. 
 “Letter of Credit Exposure” means, as of any date of determination with respect to any
Lender, such Lender’s Pro Rata Share of the Letter of Credit Usage on such date. 
 “Letter of Credit Fee” has the
meaning specified therefor in Section 2.6(b) of the Agreement. 
 “Letter of Credit Indemnified Costs” has the
meaning specified therefor in Section 2.11(f) of the Agreement. 

  
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 “Letter of Credit Related Person” has the meaning specified therefor in
Section 2.11(f) of the Agreement. 
 “Letter of Credit Usage” means, as of any date of determination, the
aggregate undrawn amount of all outstanding Letters of Credit. 
 “LIBOR Deadline” has the meaning specified therefor in
Section 2.12(b)(i) of the Agreement. 
 “LIBOR Notice” means a written notice in the form of Exhibit L-1
to the Agreement. 
 “LIBOR Option” has the meaning specified therefor in Section 2.12(a) of the Agreement.

 “LIBOR Rate” means the greater of (a) 1.25 percent per annum, and (b) the rate per annum rate appearing on
Macro*World’s (https://capitalmarkets.mworld.com; the “Service”) Page BBA LIBOR - USD (or on any successor or substitute page of such Service, or any successor to or substitute for such Service) 2 Business Days prior to the
commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest Period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan or as a
conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrowers in accordance with the Agreement (and, if any such rate is below zero, the LIBOR Rate shall be deemed to be zero), which determination shall be made by Agent and shall be conclusive
in the absence of manifest error. 
 “LIBOR Rate Loan” means each portion of a Revolving Loan or the Term Loan that bears
interest at a rate determined by reference to the LIBOR Rate. 
 “LIBOR Rate Margin” has the meaning set forth in the
definition of Applicable Margin. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, charge,
deposit arrangement, encumbrance, easement, lien (statutory or other), security interest, or other security arrangement and any other preference, priority, or preferential arrangement of any kind or nature whatsoever, including any conditional sale
contract or other title retention agreement, the interest of a lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any of the foregoing. 

“Loan” shall mean any Revolving Loan, Swing Loan, Protective Advance, or Term Loan made (or to be made) hereunder. 

“Loan Account” has the meaning specified therefor in Section 2.9 of the Agreement. 

“Loan Documents” means the Agreement, the Control Agreements, the Copyright Security Agreement, the Fee Letter, the Guaranty
and Security Agreement, the Intercompany Subordination Agreement, any Issuer Documents, the Letters of Credit, the Mortgages, the Patent Security Agreement, the Trademark Security Agreement, any note or notes executed by Borrowers in connection with
the Agreement and payable to any member of the Lender Group, and any other instrument or agreement entered into, now or in the future, by any Borrower or any of its Subsidiaries and any member of the Lender Group in connection with the Agreement.

 “Loan Party” means any Borrower or any Guarantor. 

“Margin Stock” as defined in Regulation U of the Board of Governors as in effect from time to time. 

“Material Adverse Effect” means (a) a material adverse effect in the business, operations, results of operations,
assets, liabilities or financial condition of Borrowers and their Subsidiaries, taken as a whole, (b) a material impairment of Borrowers’ and their Subsidiaries ability to perform their obligations under

  
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the Loan Documents to which they are parties or of the Lender Group’s ability to enforce the Obligations or realize upon all or a material portion of the Collateral (other than as a result
of an action taken or not taken that is solely in the control of Agent), or (c) a material impairment of the enforceability or priority of Agent’s Liens with respect to all or a material portion of the Collateral. 

“Material Contract” means, with respect to any Person, (a) each contract or agreement to which such Person or any of its
Subsidiaries is a party involving aggregate consideration payable to or by such Person or such Subsidiary of $1,500,000 or more (other than purchase orders in the ordinary course of the business of such Person or such Subsidiary and other than
contracts that by their terms may be terminated by such Person or Subsidiary in the ordinary course of its business upon less than 60 days notice without penalty or premium) and (b) all other contracts or agreements, the loss of which could
reasonably be expected to result in a Material Adverse Effect. 
 “Maturity Date” means the earlier of
(a) January 15, 2018 and (b) the 91st day prior to the maturity date of the obligations under the Harbert Capital Facility (or any Permitted Refinancing thereof); provided that if all of the Indebtedness owing under the Harbert
Credit Facility is converted into equity of Administrative Borrower, then “Maturity Date” means January 15, 2018. 

“Maximum Revolver Amount” means $5,000,000, decreased by the amount of reductions in the Revolver Commitments made in
accordance with Section 2.4(c) of the Agreement. 
 “Merger” means the Acquisition contemplated in the
Acquisition Documents. 
 “Moody’s” has the meaning specified therefor in the definition of Cash Equivalents. 

“Mortgages” means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed
and delivered by a Borrower or one of its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral. 

“Multiemployer Plan” means any multiemployer plan within the meaning of Section 3(37) or 4001(a)(3) of ERISA with
respect to which any Loan Party or ERISA Affiliate has an obligation to contribute or has any liability, contingent or otherwise or could be assessed withdrawal liability assuming a complete withdrawal from any such multiemployer plan. 

“Net Cash Proceeds” means: 

(a) with respect to any sale or disposition by any Borrower or any of its Subsidiaries of assets, the amount of cash proceeds received
(directly or indirectly) from time to time (whether as initial consideration or through the payment of deferred consideration) by or on behalf of such Borrower or such Subsidiary, in connection therewith after deducting therefrom only (i) the
amount of any Indebtedness secured by any Permitted Lien on any asset (other than (A) Indebtedness owing to Agent or any Lender under the Agreement or the other Loan Documents and (B) Indebtedness assumed by the purchaser of such asset)
which is required to be, and is, repaid in connection with such sale or disposition, (ii) reasonable fees, commissions, and expenses related thereto and required to be paid by such Borrower or such Subsidiary in connection with such sale or
disposition, (iii) taxes paid or payable to any taxing authorities by such Borrower or such Subsidiary in connection with such sale or disposition, in each case to the extent, but only to the extent, that the amounts so deducted are, at the
time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of any Borrower or any of its Subsidiaries, and are properly attributable to such transaction; and (iv) all amounts that are set aside as a reserve
(A) for adjustments in respect of the purchase price of such assets, (B) for any liabilities associated with such sale or casualty, to the extent such reserve is required by GAAP, and (C) for the payment of unassumed liabilities
relating to the assets sold or otherwise disposed of at the time of, or within 30 days after, the date of such sale or other disposition, to the extent that in each case the funds described above in this clause (iv) are (x) deposited into
escrow with a third party escrow agent or set aside in a separate Deposit 

  
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Account that is subject to a Control Agreement in favor of Agent and (y) paid to Agent as a prepayment of the applicable Obligations in accordance with Section 2.4(e) of the
Agreement at such time when such amounts are no longer required to be set aside as such a reserve; and 
 (b) with respect to the issuance
or incurrence of any Indebtedness by any Borrower or any of its Subsidiaries, or the issuance by any Borrower or any of its Subsidiaries of any Equity Interests, the aggregate amount of cash received (directly or indirectly) from time to time
(whether as initial consideration or through the payment or disposition of deferred consideration) by or on behalf of such Borrower or such Subsidiary in connection with such issuance or incurrence, after deducting therefrom only (i) reasonable
fees, commissions, and expenses related thereto and required to be paid by such Borrower or such Subsidiary in connection with such issuance or incurrence, (ii) taxes paid or payable to any taxing authorities by such Borrower or such Subsidiary
in connection with such issuance or incurrence, in each case to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of any Borrower
or any of its Subsidiaries, and are properly attributable to such transaction. 
 “Net Working Capital” means, as of any
date of determination, Current Assets as of such date minus Current Liabilities as of such date. 
 “Non-Consenting Lender”
has the meaning specified therefor in Section 14.2(a) of the Agreement. 
 “Non-Defaulting Lender” means each
Lender other than a Defaulting Lender. 
 “Notification Event” means (a) the occurrence of a “reportable
event” described in Section 4043 of ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a
plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan
amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan
by the PBGC or any Pension Plan or Multiemployer Plan administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien,
(g) the partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that
results in the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of
proceedings to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in
“endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of
ERISA, (l) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the
meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including
Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of
the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event
that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit 

  
 -20- 

 
Plans or any event that results in or could reasonably be expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the
IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days. 
 “Obligations” means
(a) all loans (including the Term Loan and the Revolving Loans (inclusive of Protective Advances and Swing Loans)), debts, principal, interest (including any interest that accrues after the commencement of an Insolvency Proceeding, regardless
of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), reimbursement or indemnification obligations with respect to Letters of Credit (irrespective of whether contingent), premiums, liabilities (including
all amounts charged to the Loan Account pursuant to the Agreement), obligations (including indemnification obligations), fees (including the fees provided for in the Fee Letter), Lender Group Expenses (including any fees or expenses that accrue
after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding), guaranties, and all covenants and duties of any other kind and description owing by any
Loan Party arising out of, under, pursuant to, in connection with, or evidenced by the Agreement or any of the other Loan Documents and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to
become due, now existing or hereafter arising, and including all interest not paid when due and all other expenses or other amounts that Borrowers are required to pay or reimburse by the Loan Documents or by law or otherwise in connection with the
Loan Documents, and (b) all Bank Product Obligations. Without limiting the generality of the foregoing, the Obligations of Borrowers under the Loan Documents include the obligation to pay (i) the principal of the Revolving Loans and the
Term Loan, (ii) interest accrued on the Revolving Loans and the Term Loan, (iii) the amount necessary to reimburse Issuing Bank for amounts paid or payable pursuant to Letters of Credit, (iv) Letter of Credit commissions, fees
(including fronting fees) and charges, (v) Lender Group Expenses, (vi) fees payable under the Agreement or any of the other Loan Documents, and (vii) indemnities and other amounts payable by any Loan Party under any Loan Document. Any
reference in the Agreement or in the Loan Documents to the Obligations shall include all or any portion thereof and any extensions, modifications, renewals, or alterations thereof, both prior and subsequent to any Insolvency Proceeding. 

“OFAC” means The Office of Foreign Assets Control of the U.S. Department of the Treasury. 

“Originating Lender” has the meaning specified therefor in Section 13.1(e) of the Agreement. 

“Participant” has the meaning specified therefor in Section 13.1(e) of the Agreement. 

“Participant Register” has the meaning set forth in Section 13.1(i) of the Agreement. 

“Patent Security Agreement” has the meaning specified therefor in the Guaranty and Security Agreement. 

“Patriot Act” has the meaning specified therefor in Section 4.13 of the Agreement. 

“PBGC” means the Pension Benefit Guaranty Corporation or any successor agency. 

“Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to the provisions of
Title IV or Section 302 of ERISA or Sections 412 or 430 of the Code sponsored, maintained, or contributed to by any Loan Party or ERISA Affiliate or to which any Loan Party or ERISA Affiliate has any liability, contingent or otherwise.

 “Perfection Certificate” means a certificate in the form of Exhibit P-1 to the Agreement. 

“Permitted Acquisition” means any Acquisition so long as: 

(a) no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Acquisition and
the proposed Acquisition is consensual, 

  
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 (b) no Indebtedness will be incurred, assumed, or would exist with respect to any Borrower or its
Subsidiaries as a result of such Acquisition, other than Indebtedness permitted under clauses (f) or (g) of the definition of Permitted Indebtedness and no Liens will be incurred, assumed, or would exist with respect to the assets of any
Borrower or its Subsidiaries as a result or such Acquisition other than Permitted Liens, 
 (c) Borrowers have provided Agent with written
confirmation, supported by reasonably detailed calculations, that on a pro forma basis (including pro forma adjustments arising out of events which are directly attributable to such proposed Acquisition, are factually supportable, and
are expected to have a continuing impact, in each case, determined as if the combination had been accomplished at the beginning of the relevant period; such eliminations and inclusions to be mutually and reasonably agreed upon by Borrowers and
Agent) created by adding the historical combined financial statements of Borrowers (including the combined financial statements of any other Person or assets that were the subject of a prior Permitted Acquisition during the relevant period) to the
historical consolidated financial statements of the Person to be acquired (or the historical financial statements related to the assets to be acquired) pursuant to the proposed Acquisition, Borrowers and their Subsidiaries (i) would have been
in compliance with the financial covenants in Section 7 of the Agreement for the 4 fiscal quarter period ended immediately prior to the proposed date of consummation of such proposed Acquisition, and (ii) are projected to be in
compliance with the financial covenants in Section 7 of the Agreement for the 4 fiscal quarter period ended one year after the proposed date of consummation of such proposed Acquisition, 

(d) Borrowers have provided Agent with its due diligence package relative to the proposed Acquisition, including forecasted balance sheets,
profit and loss statements, and cash flow statements of the Person or assets to be acquired, all prepared on a basis consistent with such Person’s (or assets’) historical financial statements, together with appropriate supporting details
and a statement of underlying assumptions for the 1 year period following the date of the proposed Acquisition, on a quarter by quarter basis), in form and substance (including as to scope and underlying assumptions) reasonably satisfactory to
Agent, 
 (e) Borrowers shall have Availability plus Qualified Cash in an amount equal to or greater than $5,000,000 immediately after
giving effect to the consummation of the proposed Acquisition, 
 (f) the assets being acquired or the Person whose Equity Interests are
being acquired did not have negative EBITDA during the 12 consecutive month period most recently concluded prior to the date of the proposed Acquisition, 

(g) Borrowers have provided Agent with written notice of the proposed Acquisition at least 15 Business Days prior to the anticipated closing
date of the proposed Acquisition and, not later than 5 Business Days prior to the anticipated closing date of the proposed Acquisition, copies of the acquisition agreement and other material documents relative to the proposed Acquisition, which
agreement and documents must be reasonably acceptable to Agent, 
 (h) the assets being acquired (other than a de minimis amount of
assets in relation to Borrowers’ and their Subsidiaries’ total assets), or the Person whose Equity Interests are being acquired, are useful in or engaged in, as applicable, the business of Borrowers and their Subsidiaries or a business
reasonably related thereto, 
 (i) the assets being acquired (other than a de minimis amount of assets in relation to the assets
being acquired) are located within the United States or the Person whose Equity Interests are being acquired is organized in a jurisdiction located within the United States, 

(j) the subject assets or Equity Interests, as applicable, are being acquired directly by a Borrower or one of its Subsidiaries that is a Loan
Party, and, in connection therewith, the applicable Loan Party shall have complied with Section 5.11 or 5.12 of the Agreement, as applicable, of the Agreement and, in the case of an acquisition of Equity Interests, the applicable
Loan Party shall have demonstrated to Agent that the new Loan Parties have received consideration sufficient to make the joinder documents binding and enforceable against such new Loan Parties, and 

  
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 (k) the purchase consideration payable in respect of all Permitted Acquisitions (including the
proposed Acquisition and including deferred payment obligations) shall not exceed $15,000,000 in the aggregate; provided, that the purchase consideration payable in respect of any single Acquisition or series of related Acquisitions shall not
exceed $10,000,000 in the aggregate. 
 “Permitted Discretion” means a determination made in the exercise of reasonable
(from the perspective of a secured commercial lender) business judgment. 
 “Permitted Dispositions” means: 

(a) sales, abandonment, or other dispositions of property (other than any intellectual property) that is substantially worn, damaged, or
obsolete or no longer used or useful in the ordinary course of business and leases or subleases of Real Property not useful in the conduct of the business of Borrowers and their Subsidiaries, 

(b) sales of inventory to buyers in the ordinary course of business, 

(c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of the Agreement or the other Loan
Documents, 
 (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, and other intellectual property rights in the
ordinary course of business, 
 (e) the granting of Permitted Liens, 

(f) the sale or discount, in each case without recourse, of accounts receivable arising in the ordinary course of business, but only in
connection with the compromise or collection thereof, 
 (g) any involuntary loss, damage or destruction of property, 

(h) any involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition
of use of property, 
 (i) the leasing or subleasing of assets of any Borrower or its Subsidiaries in the ordinary course of business, 

(j) the sale or issuance of Equity Interests (other than Disqualified Equity Interests) of Administrative Borrower, 

(k) (i) the lapse of registered patents, trademarks, copyrights and other intellectual property of any Borrower or any of its
Subsidiaries to the extent not economically desirable in the conduct of its business or (ii) the abandonment of patents, trademarks, copyrights, or other intellectual property rights in the ordinary course of business so long as (in each case
under clauses (i) and (ii)), (A) with respect to copyrights, such copyrights are not material revenue generating copyrights, and (B) such lapse is not materially adverse to the interests of the Lender Group, 

(l) the making of Restricted Payments that are expressly permitted to be made pursuant to the Agreement, 

(m) the making of Permitted Investments, 

  
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 (n) so long as no Event of Default has occurred and is continuing or would immediately result
therefrom, transfers of assets (i) from any Borrower or any of its Subsidiaries to a Loan Party, and (ii) from any Subsidiary of any Borrower that is not a Loan Party to any other Subsidiary of any Borrower, 

(o) dispositions of assets acquired by Borrowers and their Subsidiaries pursuant to a Permitted Acquisition consummated within 12 months of
the date of the proposed disposition so long as (i) the consideration received for the assets to be so disposed is at least equal to the fair market value of such assets, (ii) the assets to be so disposed are not necessary or economically
desirable in connection with the business of Borrowers and their Subsidiaries, and (iii) the assets to be so disposed are readily identifiable as assets acquired pursuant to the subject Permitted Acquisition, 

(p) trade-in of assets in the ordinary course of business for credit towards the purchase price of replacement assets purchased concurrently
therewith so long as the gross amount of the purchase price of such replacement assets is greater than the gross trade –in value of the assets being traded in at such time, and 

(q) sales or dispositions of assets (other than Equity Interests of Subsidiaries of any Borrower) not otherwise permitted in clauses
(a) through (p) above so long as made at fair market value and the aggregate fair market value of all assets disposed of in fiscal year (including the proposed disposition) would not exceed $250,000. 

“Permitted Holder” means (i) Sponsor and (ii) Crysalis Ventures. 

“Permitted Indebtedness” means: 

(a) Indebtedness evidenced by the Agreement or the other Loan Documents, 

(b) Indebtedness set forth on Schedule 4.14 to the Agreement and any Refinancing Indebtedness in respect of such Indebtedness, 

(c) Permitted Purchase Money Indebtedness and any Refinancing Indebtedness in respect of such Indebtedness, 

(d) endorsement of instruments or other payment items for deposit, 

(e) Indebtedness consisting of (i) unsecured guarantees incurred in the ordinary course of business with respect to surety and appeal
bonds, performance bonds, bid bonds, appeal bonds, completion guarantee and similar obligations; (ii) unsecured guarantees arising with respect to customary indemnification obligations to purchasers in connection with Permitted Dispositions;
and (iii) unsecured guarantees with respect to Indebtedness of any Borrower or one of its Subsidiaries, to the extent that the Person that is obligated under such guaranty could have incurred such underlying Indebtedness, 

(f) unsecured Indebtedness of any Borrower that is incurred on the date of the consummation of a Permitted Acquisition solely for the purpose
of consummating such Permitted Acquisition so long as (i) no Event of Default has occurred and is continuing or would result therefrom, (ii) such unsecured Indebtedness is not incurred for working capital purposes, (iii) such
unsecured Indebtedness does not mature prior to the date that is six months after the Maturity Date, (iv) such unsecured Indebtedness does not amortize until six months after the Maturity Date, (v) such unsecured Indebtedness does not
provide for the payment of interest thereon in cash or Cash Equivalents prior to the date that is six months after the Maturity Date, and (vi) such Indebtedness is subordinated in right of payment to the Obligations on terms and conditions
reasonably satisfactory to Agent, 
 (g) Acquired Indebtedness in an amount not to exceed $500,000 outstanding at any one time, 

(h) Indebtedness incurred in the ordinary course of business under performance, surety, statutory, or appeal bonds, 

  
 -24- 

 (i) Indebtedness owed to any Person providing property, casualty, liability, or other insurance
to any Borrower or any of its Subsidiaries, so long as the amount of such Indebtedness is not in excess of the amount of the unpaid cost of, and shall be incurred only to defer the cost of, such insurance for the year in which such Indebtedness is
incurred and such Indebtedness is outstanding only during such year, 
 (j) the incurrence by any Borrower or its Subsidiaries of
Indebtedness under Hedge Agreements that are incurred for the bona fide purpose of hedging the interest rate, commodity, or foreign currency risks associated with Borrowers’ and its Subsidiaries’ operations and not for speculative
purposes, 
 (k) Indebtedness incurred in the ordinary course of business in respect of credit cards, credit card processing services, debit
cards, stored value cards, commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”), or Cash Management Services, 

(l) unsecured Indebtedness of any Borrower owing to former employees, officers, or directors (or any spouses, ex-spouses, or estates of any of
the foregoing) incurred in connection with the repurchase by such Borrower of the Equity Interests of Administrative Borrower that has been issued to such Persons, so long as (i) no Default or Event of Default has occurred and is continuing or
would result from the incurrence of such Indebtedness, (ii) the aggregate amount of all such Indebtedness outstanding at any one time does not exceed $250,000, and (iii) such Indebtedness is subordinated to the Obligations on terms and
conditions reasonably acceptable to Agent, 
 (m) unsecured Indebtedness owing to sellers of assets or Equity Interests to a Loan Party that
is incurred by the applicable Loan Party in connection with the consummation of one or more Permitted Acquisitions so long as (i) the aggregate principal amount for all such unsecured Indebtedness does not exceed $500,000 at any one time
outstanding, (ii) is subordinated to the Obligations on terms and conditions reasonably acceptable to Agent, and (iii) is otherwise on terms and conditions (including all economic terms and the absence of covenants) reasonably acceptable
to Agent, 
 (n) contingent liabilities in respect of any indemnification obligation, adjustment of purchase price, non-compete, or similar
obligation of Borrowers or the applicable Loan Party incurred in connection with the consummation of one or more Permitted Acquisitions, 

(o) Indebtedness composing Permitted Investments, 

(p) unsecured Indebtedness incurred in respect of netting services, overdraft protection, and other like services, in each case, incurred in
the ordinary course of business, 
 (q) unsecured Indebtedness of any Borrower or its Subsidiaries in respect of Earn-Outs owing to sellers
of assets or Equity Interests to such Borrower or its Subsidiaries that is incurred in connection with the consummation of one or more Permitted Acquisitions so long as such unsecured Indebtedness is on terms and conditions reasonably acceptable to
Agent; provided, that, the definitive documentation relating to such Earn-Out shall not require payment thereof at any time if after giving effect to such payment (i) an Event of Default shall have occurred and be continuing or (ii) if
average Excess Availability plus Qualifying Cash for the immediately preceding thirty (30) day period is less than $5,000,000, 
 (r)
[intentionally omitted], 
 (s) accrual of interest, accretion or amortization of original issue discount, or the payment of interest in
kind, in each case, on Indebtedness that otherwise constitutes Permitted Indebtedness, 
 (t) subject to the terms of the Subordination
Agreement, Indebtedness under the Harbert Credit Facility in an aggregate amount not the exceed $6,600,000 and any Refinancing Indebtedness in respect of such Indebtedness; 

  
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 (u) Subordinated Indebtedness, and 

(v) any other unsecured Indebtedness incurred by any Borrower or any of its Subsidiaries in an aggregate outstanding amount not to exceed
$250,000 at any one time. 
 “Permitted Intercompany Advances” means loans made by (a) a Loan Party to another Loan
Party, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party and (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party, so long as the parties thereto are
party to the Intercompany Subordination Agreement. 
 “Permitted Investments” means: 

(a) Investments in cash and Cash Equivalents, 

(b) Investments in negotiable instruments deposited or to be deposited for collection in the ordinary course of business, 

(c) advances made in connection with purchases of goods or services in the ordinary course of business, 

(d) Investments received in settlement of amounts due to any Loan Party or any of its Subsidiaries effected in the ordinary course of business
or owing to any Loan Party or any of its Subsidiaries as a result of Insolvency Proceedings involving an account debtor or upon the foreclosure or enforcement of any Lien in favor of a Loan Party or its Subsidiaries, 

(e) Investments owned by any Loan Party or any of its Subsidiaries on the Closing Date and set forth on Schedule P-1 to the Agreement,

 (f) guarantees permitted under the definition of Permitted Indebtedness, 

(g) Permitted Intercompany Advances, 

(h) Equity Interests or other securities acquired in connection with the satisfaction or enforcement of Indebtedness or claims due or owing to
a Loan Party or its Subsidiaries (in bankruptcy of customers or suppliers or otherwise outside the ordinary course of business) or as security for any such Indebtedness or claims, 

(i) deposits of cash made in the ordinary course of business to secure performance of operating leases, 

(j) (i) non-cash loans and advances to employees, officers, and directors of Administrative Borrower or any of its Subsidiaries for the
purpose of purchasing Equity Interests in Administrative Borrower so long as the proceeds of such loans are used in their entirety to purchase such Equity Interests in Administrative Borrower, and (ii) loans and advances to employees and
officers of any Borrower or any of its Subsidiaries in the ordinary course of business for any other business purpose and in an aggregate amount not to exceed $250,000, 

(k) Permitted Acquisitions, 

(l) Investments in the form of capital contributions and the acquisition of Equity Interests made by any Loan Party in any other Loan Party
(other than capital contributions to or the acquisition of Equity Interests of any Borrower), 

  
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 (m) Investments resulting from entering into (i) Bank Product Agreements, or
(ii) agreements relative to Indebtedness that is permitted under clause (j) of the definition of Permitted Indebtedness, 
 (n)
equity Investments by any Loan Party in any Subsidiary of such Loan Party which is required by law to maintain a minimum net capital requirement or as may be otherwise required by applicable law, 

(o) Investments held by a Person acquired in a Permitted Acquisition to the extent that such Investments were not made in contemplation of or
in connection with such Permitted Acquisition and were in existence on the date of such Permitted Acquisition, and 
 (p) so long as no
Event of Default has occurred and is continuing or would result therefrom, any other Investments in an aggregate amount not to exceed $250,000 during the term of the Agreement. 

“Permitted Liens” means 

(a) Liens granted to, or for the benefit of, Agent to secure the Obligations, 

(b) Liens for unpaid taxes, assessments, or other governmental charges or levies that either (i) are not yet delinquent, or (ii) do
not have priority over Agent’s Liens and the underlying taxes, assessments, or charges or levies are the subject of Permitted Protests, 

(c) judgment Liens arising solely as a result of the existence of judgments, orders, or awards that do not constitute an Event of Default
under Section 8.3 of the Agreement, 
 (d) Liens set forth on Schedule P-2 to the Agreement; provided, that to
qualify as a Permitted Lien, any such Lien described on Schedule P-2 to the Agreement shall only secure the Indebtedness that it secures on the Closing Date and any Refinancing Indebtedness in respect thereof, 

(e) the interests of lessors under operating leases and non-exclusive licensors under license agreements, 

(f) purchase money Liens or the interests of lessors under Capital Leases to the extent that such Liens or interests secure Permitted Purchase
Money Indebtedness and so long as (i) such Lien attaches only to the asset purchased or acquired and the proceeds thereof, and (ii) such Lien only secures the Indebtedness that was incurred to acquire the asset purchased or acquired or any
Refinancing Indebtedness in respect thereof, 
 (g) Liens arising by operation of law in favor of warehousemen, landlords, carriers,
mechanics, materialmen, laborers, or suppliers, incurred in the ordinary course of business and not in connection with the borrowing of money, and which Liens either (i) are for sums not yet delinquent, or (ii) are the subject of Permitted
Protests, 
 (h) Liens on amounts deposited to secure any Borrower’s and its Subsidiaries’ obligations in connection with
worker’s compensation or other unemployment insurance, 
 (i) Liens on amounts deposited to secure any Borrower’s and its
Subsidiaries’ obligations in connection with the making or entering into of bids, tenders, or leases in the ordinary course of business and not in connection with the borrowing of money, 

(j) Liens on amounts deposited to secure any Borrower’s and its Subsidiaries’ reimbursement obligations with respect to surety or
appeal bonds obtained in the ordinary course of business, 
 (k) with respect to any Real Property, easements, rights of way, and zoning
restrictions that do not materially interfere with or impair the use or operation thereof, 

  
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 (l) non-exclusive licenses of patents, trademarks, copyrights, and other intellectual property
rights in the ordinary course of business, 
 (m) Liens that are replacements of Permitted Liens to the extent that the original
Indebtedness is the subject of permitted Refinancing Indebtedness and so long as the replacement Liens only encumber those assets that secured the original Indebtedness, 

(n) rights of setoff or bankers’ liens upon deposits of funds in favor of banks or other depository institutions, solely to the extent
incurred in connection with the maintenance of such Deposit Accounts in the ordinary course of business, 
 (o) Liens granted in the
ordinary course of business on the unearned portion of insurance premiums securing the financing of insurance premiums to the extent the financing is permitted under the definition of Permitted Indebtedness, 

(p) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with
the importation of goods, 
 (q) Liens solely on any cash earnest money deposits made by a Borrower or any of its Subsidiaries in connection
with any letter of intent or purchase agreement with respect to a Permitted Acquisition, 
 (r) Liens assumed by any Borrower or its
Subsidiaries in connection with a Permitted Acquisition that secure Acquired Indebtedness, 
 (s) subject to the Subordination
Agreement, Liens securing Indebtedness permitted pursuant to clause (t) of the definition of Permitted Indebtedness, and 
 (t) other
Liens which do not secure Indebtedness for borrowed money or letters of credit and as to which the aggregate amount of the obligations secured thereby does not exceed $250,000. 

“Permitted Protest” means the right of any Borrower or any of its Subsidiaries to protest any Lien (other than any Lien that
secures the Obligations), taxes (other than payroll taxes or taxes that are the subject of a United States federal tax lien), or rental payment, provided that (a) a reserve with respect to such obligation is established on such Borrower’s
or its Subsidiaries’ books and records in such amount as is required under GAAP, (b) any such protest is instituted promptly and prosecuted diligently by such Borrower or its Subsidiary, as applicable, in good faith, and (c) Agent is
satisfied that, while any such protest is pending, there will be no impairment of the enforceability, validity, or priority of any of Agent’s Liens. 

“Permitted Purchase Money Indebtedness” means, as of any date of determination, Indebtedness (other than the Obligations, but
including Capitalized Lease Obligations), incurred after the Closing Date and at the time of, or within 20 days after, the acquisition of any fixed assets for the purpose of financing all or any part of the acquisition cost thereof, in an aggregate
principal amount outstanding at any one time not in excess of $2,000,000. 
 “Person” means natural persons, corporations,
limited liability companies, limited partnerships, general partnerships, limited liability partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and governments
and agencies and political subdivisions thereof. 
 “Platform” has the meaning specified therefor in
Section 17.9(c) of the Agreement. 

  
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 “Projections” means Borrowers’ forecasted (a) balance sheets,
(b) profit and loss statements, and (c) cash flow statements, all prepared on a basis consistent with Borrowers’ historical financial statements, together with appropriate supporting details and a statement of underlying assumptions.

 “Pro Rata Share” means, as of any date of determination: 

(a) with respect to a Lender’s obligation to make all or a portion of the Revolving Loans, with respect to such Lender’s right to
receive payments of interest, fees, and principal with respect to the Revolving Loans, and with respect to all other computations and other matters related to the Revolver Commitments or the Revolving Loans, the percentage obtained by dividing
(i) the Revolving Loan Exposure of such Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders, 
 (b) with respect
to a Lender’s obligation to participate in the Letters of Credit, with respect to such Lender’s obligation to reimburse Issuing Bank, and with respect to such Lender’s right to receive payments of Letter of Credit Fees, and with
respect to all other computations and other matters related to the Letters of Credit, the percentage obtained by dividing (i) the Revolving Loan Exposure of such Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders;
provided, that if all of the Revolving Loans have been repaid in full and all Revolver Commitments have been terminated, but Letters of Credit remain outstanding, Pro Rata Share under this clause shall be determined as if the Revolver
Commitments had not been terminated and based upon the Revolver Commitments as they existed immediately prior to their termination, 
 (c)
with respect to a Lender’s obligation to make all or a portion of the Term Loan, with respect to such Lender’s right to receive payments of interest, fees, and principal with respect to the Term Loan, and with respect to all other
computations and other matters related to the Term Loan Commitments or the Term Loan, the percentage obtained by dividing (i) the Term Loan Exposure of such Lender by (ii) the aggregate Term Loan Exposure of all Lenders, and 

(d) with respect to all other matters and for all other matters as to a particular Lender (including the indemnification obligations arising
under Section 15.7 of the Agreement), the percentage obtained by dividing (i) the sum of the Term Loan Exposure of such Lender plus the Revolving Loan Exposure of such Lender by (ii) the sum of the aggregate Term Loan Exposure
of all Lenders plus the aggregate Revolving Loan Exposure of all Lenders, in any such case as the applicable percentage may be adjusted by assignments permitted pursuant to Section 13.1; provided, that if all of the Loans have
been repaid in full, all Letters of Credit have been made the subject of Letter of Credit Collateralization, and all Commitments have been terminated, Pro Rata Share under this clause shall be determined as if the Revolving Loan Exposures and Term
Loan Exposures had not been repaid, collateralized, or terminated and shall be based upon the Revolving Loan Exposures and Term Loan Exposures as they existed immediately prior to their repayment, collateralization, or termination. 

“Protective Advances” has the meaning specified therefor in Section 2.3(d)(i) of the Agreement. 

“Public Lender” has the meaning specified therefor in Section 17.9(c) of the Agreement. 

“Purchase Price” means, with respect to any Acquisition, an amount equal to the aggregate consideration, whether cash,
property or securities (including the fair market value of any Equity Interests of Administrative Borrower issued in connection with such Acquisition and including the maximum amount of Earn-Outs), paid or delivered by a Borrower or one of its
Subsidiaries in connection with such Acquisition (whether paid at the closing thereof or payable thereafter and whether fixed or contingent), but excluding therefrom (a) any cash of the seller and its Affiliates used to fund any portion of such
consideration and (b) any cash or Cash Equivalents acquired in connection with such Acquisition. 
 “Qualified Cash”
means, as of any date of determination, the amount of unrestricted cash and Cash Equivalents of Borrowers and their Subsidiaries that is in Deposit Accounts or in Securities Accounts, or 

  
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any combination thereof, and which such Deposit Account or Securities Account is the subject of a Control Agreement and is maintained by a branch office of the bank or securities intermediary
located within the United States. 
 “Qualified Equity Interest” means and refers to any Equity Interests issued by
Administrative Borrower (and not by one or more of its Subsidiaries) that is not a Disqualified Equity Interest. 
 “Real
Property” means any estates or interests in real property now owned or hereafter acquired by any Borrower or one of its Subsidiaries and the improvements thereto. 

“Real Property Collateral” means (a) the Real Property identified on Schedule R-1 to the Agreement and
(b) any Real Property hereafter acquired by any Borrower or one of its Subsidiaries with a fair market value in excess of $1,000,000. 

“Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is
retrievable in perceivable form. 
 “Reference Period” has the meaning set forth in the definition of EBITDA. 

“Refinancing Indebtedness” means refinancings, renewals, or extensions of Indebtedness so long as: 

(a) such refinancings, renewals, or extensions do not result in an increase in the principal amount of the Indebtedness so refinanced,
renewed, or extended, other than by the amount of premiums paid thereon and the fees and expenses incurred in connection therewith and by the amount of unfunded commitments with respect thereto, 

(b) such refinancings, renewals, or extensions do not result in a shortening of the average weighted maturity (measured as of the refinancing,
renewal, or extension) of the Indebtedness so refinanced, renewed, or extended, nor are they on terms or conditions that, taken as a whole, are or could reasonably be expected to be materially adverse to the interests of the Lenders, 

(c) if the Indebtedness that is refinanced, renewed, or extended was subordinated in right of payment to the Obligations, then the terms and
conditions of the refinancing, renewal, or extension must include subordination terms and conditions that are at least as favorable to the Lender Group as those that were applicable to the refinanced, renewed, or extended Indebtedness, and 

(d) the Indebtedness that is refinanced, renewed, or extended is not recourse to any Person that is liable on account of the Obligations other
than those Persons which were obligated with respect to the Indebtedness that was refinanced, renewed, or extended. 

“Register” has the meaning set forth in Section 13.1(h) of the Agreement. 

“Registered Loan” has the meaning set forth in Section 13.1(h) of the Agreement. 

“Related Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or investing in
bank loans and similar extensions of credit in the ordinary course and that is administered, advised or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers, advises or
manages a Lender. 
 “Remedial Action” means all actions taken to (a) clean up, remove, remediate, contain, treat,
monitor, assess, evaluate, or in any way address Hazardous Materials in the indoor or outdoor environment, (b) prevent or minimize a release or threatened release of Hazardous Materials so they do not migrate or endanger or threaten to endanger
public health or welfare or the indoor or outdoor environment, (c) restore or reclaim 

  
 -30- 

 
natural resources or the environment, (d) perform any pre-remedial studies, investigations, or post-remedial operation and maintenance activities, or (e) conduct any other actions with
respect to Hazardous Materials required by Environmental Laws. 
 “Replacement Lender” has the meaning specified therefor
in Section 2.13(b) of the Agreement. 
 “Report” has the meaning specified therefor in
Section 15.16 of the Agreement. 
 “Required Availability” means that the sum of (a) Availability plus
(b) Qualified Cash exceeds $4,500,000. 
 “Required Lenders” means, at any time, Lenders having or holding more
than 50% of the sum of (a) the aggregate Revolving Loan Exposure of all Lenders, plus (b) the aggregate Term Loan Exposure of all Lenders; provided, that the Revolving Loan Exposure and Term Loan Exposure of any Defaulting Lender
shall be disregarded in the determination of the Required Lenders, (ii) at any time there are 2 or more Lenders, “Required Lenders” must include at least 2 Lenders (who are not Affiliates of one another). 

“Restricted Payment” means to (a) declare or pay any dividend or make any other payment or distribution, directly or
indirectly, on account of Equity Interests issued by Administrative Borrower (including any payment in connection with any merger or consolidation involving Administrative Borrower) or to the direct or indirect holders of Equity Interests issued by
Administrative Borrower in their capacity as such (other than dividends or distributions payable in Qualified Equity Interests issued by Administrative Borrower), or (b) purchase, redeem, make any sinking fund or similar payment, or otherwise
acquire or retire for value (including in connection with any merger or consolidation involving Administrative Borrower) any Equity Interests issued by Administrative Borrower, (c) make any payment to retire, or to obtain the surrender of, any
outstanding warrants, options, or other rights to acquire Equity Interests of Administrative Borrower now or hereafter outstanding, and (d) make, or cause or suffer to permit any Borrowers’ or any of its Subsidiaries to make, any payment
or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any Subordinated Indebtedness. 

“Revolver Commitment” means, with respect to each Revolving Lender, its Revolver Commitment, and, with respect to all
Revolving Lenders, their Revolver Commitments, in each case as such Dollar amounts are set forth beside such Revolving Lender’s name under the applicable heading on Schedule C-1 to the Agreement or in the Assignment and Acceptance
pursuant to which such Revolving Lender became a Revolving Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1 of the
Agreement. 
 “Revolver Usage” means, as of any date of determination, the sum of (a) the amount of outstanding
Revolving Loans (inclusive of Swing Loans and Protective Advances), plus (b) the amount of the Letter of Credit Usage. 

“Revolving Lender” means a Lender that has a Revolving Loan Commitment or that has an outstanding Revolving Loan. 

“Revolving Loan Exposure” means, with respect to any Revolving Lender, as of any date of determination (a) prior to the
termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender. 

“Revolving Loans” has the meaning specified therefor in Section 2.1(a) of the Agreement. 

“Sanctioned Entity” means (a) a country or a government of a country, (b) an agency of the government of a country,
(c) an organization directly or indirectly controlled by a country or its government, (d) a Person resident in or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and
enforced by OFAC. 

  
 -31- 

 “Sanctioned Person” means a person named on the list of Specially Designated
Nationals maintained by OFAC. 
 “S&P” has the meaning specified therefor in the definition of Cash Equivalents. 

“SEC” means the United States Securities and Exchange Commission and any successor thereto. 

“Securities Account” means a securities account (as that term is defined in the Code). 

“Seller” means Lemhi Ventures I Fund, LP, Yankee Investment Holdings LLC, Diamond Creek Investment, Ltd., Michael Cho, in his
individual capacity and Michael Chung, his individual capacity. 
 “Settlement” has the meaning specified therefor in
Section 2.3(e)(i) of the Agreement. 
 “Settlement Date” has the meaning specified therefor in
Section 2.3(e)(i) of the Agreement. 
 “Solvent” means, with respect to any Person as of any date of
determination, that (a) at fair valuations, the sum of such Person’s debts (including contingent liabilities) is less than all of such Person’s assets, (b) such Person is not engaged or about to engage in a business or
transaction for which the remaining assets of such Person are unreasonably small in relation to the business or transaction or for which the property remaining with such Person is an unreasonably small capital, and (c) such Person has not
incurred and does not intend to incur, or reasonably believe that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise), and (d) such Person is “solvent” or not
“insolvent”, as applicable within the meaning given those terms and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time
shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent
liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). 
 “Sponsor” means
Great Point Partners or any other investment vehicle sponsored, advised, managed or formed by Great Point Partners, but excluding portfolio companies of any such vehicle. 

“Standard Letter of Credit Practice” means, for Issuing Bank, any domestic or foreign law or letter of credit practices
applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the
case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as
chosen in the applicable Letter of Credit. 
 “Subject Holder” has the meaning specified therefor in
Section 2.4(e)(iv) of the Agreement. 
 “Subordinated Indebtedness” means any unsecured Indebtedness of any
Borrower or its Subsidiaries incurred from time to time that is subordinated in right of payment to the Obligations and (a) that is only guaranteed by the Guarantors, (b) that is not subject to scheduled amortization, redemption, sinking
fund or similar payment and does not have a final maturity, in each case, on or before the date that is six months after the Maturity Date, (c) that does not include any financial covenants or any covenant or agreement that is more restrictive
or onerous on any Loan Party in any material respect than any comparable covenant in the Agreement and, with respect to any such Indebtedness in excess of $250,000 in the aggregate, is otherwise on terms and conditions reasonably acceptable to
Agent, (d) shall be limited to cross-payment default and cross-acceleration to designated “senior debt” (including the Obligations), and (e) the other terms and conditions of the subordination are reasonably acceptable to Agent.

  
 -32- 

 “Subordination Agreement” means that certain Subordination Agreement, dated as
of January 15, 2013 between the Agent and Harbert Mezzanine Partners II SBIC, L.P., as the same may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof and hereof. 

“Subsidiary” of a Person means a corporation, partnership, limited liability company, or other entity in which that Person
directly or indirectly owns or controls the Equity Interests having ordinary voting power to elect a majority of the Board of Directors of such corporation, partnership, limited liability company, or other entity. 

“Swing Lender” means Wells Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees,
in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement. 
 “Swing
Loan” has the meaning specified therefor in Section 2.3(b) of the Agreement. 
 “Swing Loan Exposure”
means, as of any date of determination with respect to any Lender, such Lender’s Pro Rata Share of the Swing Loans on such date. 

“Taxes” means any taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter
imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein, and all interest, penalties or similar liabilities with respect thereto. 

“Tax Lender” has the meaning specified therefor in Section 14.2(a) of the Agreement. 

“Term Loan” has the meaning specified therefor in Section 2.2 of the Agreement. 

“Term Loan Amount” means $22,500,000. 

“Term Loan Commitment” means, with respect to each Lender, its Term Loan Commitment, and, with respect to all Lenders, their
Term Loan Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 to the Agreement or in the Assignment and Acceptance pursuant to which such Lender became a
Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1 of the Agreement. 

“Term Loan Exposure” means, with respect to any Term Loan Lender, as of any date of determination (a) prior to the
funding of the Term Loan, the amount of such Lender’s Term Loan Commitment, and (b) after the funding of the Term Loan, the outstanding principal amount of the Term Loan held by such Lender. 

“Term Loan Lender” means a Lender that has a Term Loan Commitment or that has a portion of the Term Loan. 

“Total Leverage Ratio” means, as of any date of determination, the ratio of (a) Borrowers’ Funded Indebtedness as
of such date to (b) Borrowers’ T4Q EBITDA for the 4 fiscal quarter period ended as of such date. 
 “Total Leverage Ratio
Calculation” has the meaning set forth in the definition of Applicable Margin. 

  
 -33- 

 “Trademark Security Agreement” has the meaning specified therefor in the
Guaranty and Security Agreement. 
 “T4Q EBITDA” means, as of any date of determination, EBITDA of Borrowers determined on
a consolidated basis in accordance with GAAP, for the 4 fiscal quarter period most recently ended. 
 “TTM EBITDA” means,
as of any date of determination, EBITDA of Borrowers determined on a consolidated basis in accordance with GAAP, for the 12 month period most recently ended. 

“UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits 2007 Revision,
International Chamber of Commerce Publication No. 600 and any subsequent revision thereof adopted by the International Chamber of Commerce on the date such Letter of Credit is issued. 

“United States” means the United States of America. 

“Unused Line Fee” has the meaning specified therefor in Section 2.10(b) of the Agreement. 

“Voidable Transfer” has the meaning specified therefor in Section 17.8 of the Agreement. 

“Wells Fargo” means Wells Fargo Bank, National Association, a national banking association. 

“Withdrawal Liability” means liability with respect to a Multiemployer Plan as a result of a complete or partial withdrawal
from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

  
 -34- 

 EXHIBIT A-1 

FORM OF ASSIGNMENT AND ACCEPTANCE AGREEMENT 

This ASSIGNMENT AND ACCEPTANCE AGREEMENT (“Assignment Agreement”) is entered into as of
                     between                     
(“Assignor”) and                      (“Assignee”). Reference is made to the Agreement described in Annex I
hereto (the “Credit Agreement”). Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to them in the Credit Agreement. 

1. In accordance with the terms and conditions of Section 13 of the Credit Agreement, the Assignor hereby sells and assigns to the
Assignee, and the Assignee hereby purchases and assumes from the Assignor, that interest in and to the Assignor’s rights and obligations under the Loan Documents as of the date hereof with respect to the Obligations owing to the Assignor, and
Assignor’s portion of the Commitments, all to the extent specified on Annex I. 
 2. The Assignor (a) represents and
warrants that (i) it is the legal and beneficial owner of the interest being assigned by it hereunder and that such interest is free and clear of any adverse claim and (ii) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment Agreement and to consummate the transactions contemplated hereby; (b) makes no representation or warranty and assumes no responsibility with respect to (i) any statements, representations
or warranties made in or in connection with the Loan Documents, or (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any other instrument or document furnished pursuant thereto;
(c) makes no representation or warranty and assumes no responsibility with respect to the financial condition of the Borrowers or any Guarantor or the performance or observance by the Borrowers or any Guarantor of any of their respective
obligations under the Loan Documents or any other instrument or document furnished pursuant thereto, and (d) represents and warrants that the amount set forth as the Purchase Price on Annex I represents the amount owed by Borrower to
Assignor with respect to Assignor’s share of the Term Loan and the Revolving Loans assigned hereunder, as reflected on Assignor’s books and records. 

3. The Assignee (a) confirms that it has received copies of the Credit Agreement and the other Loan Documents, together with copies of
the financial statements referred to therein and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment Agreement; (b) agrees that it will, independently and
without reliance upon Agent, Assignor, or any other Lender, based upon such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking any action under the Loan Documents;
(c) appoints and authorizes the Agent to take such action as agent on its behalf and to exercise such powers under the Loan Documents as are delegated to Agent by the terms thereof, together with such powers as are reasonably incidental
thereto; (d) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender; and (f) attaches the forms prescribed by the Internal
Revenue Service of the United States certifying as to the Assignee’s status for purposes of determining exemption from United States withholding taxes with respect to all payments to be made to the Assignee under the Credit Agreement or such
other documents as are necessary to indicate that all such payments are subject to such rates at a rate reduced by an applicable tax treaty. 

4. Following the execution of this Assignment Agreement by the Assignor and Assignee, the Assignor will deliver this Assignment Agreement to
the Agent for recording by the Agent. The effective date of this Assignment (the “Settlement Date”) shall be the latest to occur of (a) the date of 

 
the execution and delivery hereof by the Assignor and the Assignee, (b) the receipt by Agent for its sole and separate account a processing fee in the amount of $5,000 (if required by the
Credit Agreement), (c) the receipt of any required consent of the Agent, and (d) the date specified in Annex I. 
 5. As of
the Settlement Date (a) the Assignee shall be a party to the Credit Agreement and, to the extent of the interest assigned pursuant to this Assignment Agreement, have the rights and obligations of a Lender thereunder and under the other Loan
Documents, and (b) the Assignor shall, to the extent of the interest assigned pursuant to this Assignment Agreement, relinquish its rights and be released from its obligations under the Credit Agreement and the other Loan Documents,
provided, however, that nothing contained herein shall release any assigning Lender from obligations that survive the termination of this Agreement, including such assigning Lender’s obligations under Article 15 and
Section 17.9(a) of the Credit Agreement. 
 6. Upon the Settlement Date, Assignee shall pay to Assignor the Purchase Price (as
set forth in Annex I). From and after the Settlement Date, Agent shall make all payments that are due and payable to the holder of the interest assigned hereunder (including payments of principal, interest, fees and other amounts) to Assignor
for amounts which have accrued up to but excluding the Settlement Date and to Assignee for amounts which have accrued from and after the Settlement Date. On the Settlement Date, Assignor shall pay to Assignee an amount equal to the portion of any
interest, fee, or any other charge that was paid to Assignor prior to the Settlement Date on account of the interest assigned hereunder and that are due and payable to Assignee with respect thereto, to the extent that such interest, fee or other
charge relates to the period of time from and after the Settlement Date. 
 7. This Assignment Agreement may be executed in counterparts and
by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. This Assignment Agreement may be executed and delivered by
telecopier or other facsimile transmission all with the same force and effect as if the same were a fully executed and delivered original manual counterpart. 

8. THIS ASSIGNMENT AGREEMENT SHALL BE SUBJECT TO THE PROVISIONS REGARDING CHOICE OF LAW AND VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE
SET FORTH IN SECTION 12 OF THE CREDIT AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE, MUTATIS MUTANDIS. 

 IN WITNESS WHEREOF, the parties hereto have caused this Assignment Agreement and Annex I hereto
to be executed by their respective officers, as of the first date written above. 
  

			
	[NAME OF ASSIGNOR]
	
	as Assignor
		
	By	 	  

		 	Name:
		 	Title:
	
	 [NAME OF ASSIGNEE]
  

as Assignee

		
	By	 	  

		 	Name:
		 	Title:

  

			
	ACCEPTED THIS      DAY OF             
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Agent
		
	By	 	  

		 	Name:
		 	Title:

			
	ACKNOWLEDGED AND AGREED TO:
	
	CONNECTURE, INC., as Borrower
		
	By	 	  

		 	Name:
		 	Title:
	
	DESTINATIONRX, INC., as Borrower
		
	By	 	  

		 	Name:
		 	Title:

 ANNEX FOR ASSIGNMENT AND ACCEPTANCE 

ANNEX I 
  

											
	 1.
	 	Borrower:	 	                                     
                                       	  		  			
				
	 2.
	 	Name and Date of Credit Agreement:	  		  			
			
		 		 	 Credit Agreement entered into as of January 15, 2013, by and among the lenders signatory thereto (each of such lenders, together with its
successors and permitted assigns, is referred to hereinafter as a “Lender”, as that term is hereinafter further defined), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as administrative agent for each
member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity, “Agent”), Connecture, Inc., a Delaware corporation (“Connecture”), and
DestinationRX, Inc., a Delaware corporation (“DRX”; together with Connecture, are referred to hereinafter each individually as a “Borrower”, and individually and collectively, jointly and severally, as the
“Borrowers”).
	          

				
	 3.
	 	Date of Assignment Agreement:	  	                        	  			
				
	 4.
	 	Amounts:	  		  			
				
		 	 a.     Assigned Amount of Revolver Commitment
	  	$                     	  	 	                                	  
				
		 	 b.     Assigned Amount of Revolving Loans
	  	$                     	  			
				
		 	 b.     Assigned Amount of Term Loan
	  	$                     	  			
				
	 5.
	 	Settlement Date:	  	                      	  			
				
	 6.
	 	Purchase Price	  	$                     	  			
				
	 7.
	 	Notice and Payment Instructions, etc.	  		  			

  

											
					
	Assignee:	  		 	Assignor:	 		 	
				
	  
	  		 	  
	 	
				
	  
	  		 	  
	 	
				
	  
	  		 	  
	 	

 EXHIBIT B-2 

FORM OF BANK PRODUCT PROVIDER AGREEMENT 

[Letterhead of Specified Bank Products Provider] 

[Date] 
 Wells Fargo Bank, N.A., as Agent 

One Boston Place, 18th Floor 
 Boston, MA 02108 

Attention: Technology Finance Portfolio Manager - Connecture 
 Fax
No.: 
 Reference hereby is made to that certain Credit Agreement entered into as of January 15, 2013, by and among the lenders
identified signatory thereto (each of such lenders, together with its successors and permitted assigns, is referred to hereinafter as a “Lender”, as that term is hereinafter further defined), WELLS FARGO BANK, NATIONAL
ASSOCIATION, a national banking association, as administrative agent for each member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity, “Agent”),
Connecture, Inc., a Delaware corporation (“Connecture”), and DestinationRX, Inc., a Delaware corporation (“DRX”; together with Connecture, are referred to hereinafter each individually as a “Borrower”, and
individually and collectively, jointly and severally, as the “Borrowers”). 
 Reference is also made to that certain [Bank
Product Agreement or Agreements] (the “Specified Bank Product Agreement [Agreements]”) dated as of                     , by and
between [Lender or Affiliate of Lender] (the “Specified Bank Products Provider”) and [identify the Loan Party]. 
 1.
Appointment of Agent. The Specified Bank Products Provider hereby designates and appoints Agent, and Agent by its signature below hereby accepts such appointment, as its agent under the Credit Agreement and the other Loan Documents. The
Specified Bank Products Provider hereby acknowledges that it has reviewed Sections 15.1 through 15.15 and Sections 15.17, 15.18, and 17.5 (collectively such sections are referred to herein as the “Agency
Provisions”), including, as applicable, the defined terms used therein. Specified Bank Products Provider and Agent each agree that the Agency Provisions which govern the relationship, and certain representations, acknowledgements,
appointments, rights, restrictions, and agreements, between the Agent, on the one hand, and the Lenders or the Lender Group, on the other hand, shall, from and after the date of this letter agreement also apply to and govern, mutatis mutandis,
the relationship between the Agent, on the one hand, and the Specified Bank Product Provider with respect to the Bank Products provided pursuant to the Specified Bank Product Agreement, on the other hand. 

2. Acknowledgement of Certain Provisions of Credit Agreement. The Specified Bank Products Provider hereby acknowledges that it has
reviewed the provisions of Sections 2.4(b)(ii), 14.1, 15, and 17.5 of the Credit Agreement, including, as applicable, the defined terms used therein, and agrees to be bound by the provisions thereof. Without limiting the
generality of any of the foregoing referenced provisions, Specified Bank Product Provider understands and agrees that its rights and benefits under the Loan Documents consist solely of it being a beneficiary of the Liens and security interests
granted to Agent and the right to share in proceeds of the Collateral to the extent set forth in the Credit Agreement. 
 3. Reporting
Requirements. Agent shall have no obligation to calculate the amount due and payable with respect to any Bank Products. On a monthly basis (not later than the 10th Business Day 

 
of each calendar month) or as more frequently as Agent shall request, the Specified Bank Products Provider agrees to provide Agent with a written report, in form and substance satisfactory to
Agent, detailing Specified Bank Products Provider’s reasonable determination of the liabilities and obligations (and mark- to-market exposure) of the Borrowers and the other Loan Parties in respect of the Bank Products provided by Specified
Bank Products Provider pursuant to the Specified Bank Products Agreement. If Agent does not receive such written report within the time period provided above, Agent shall be entitled to assume that the reasonable determination of the liabilities and
obligations of the Borrowers and the other Loan Parties with respect to the Bank Products provided pursuant to the Specified Bank Products Agreement is zero. 

4. Bank Product Reserve Conditions. Specified Bank Products Provider further acknowledges and agrees that Agent shall have the right
(to the extent permitted pursuant to the Credit Agreement), but shall have no obligation to establish, maintain, relax, or release reserves in respect of any of the Bank Product Obligations and that if reserves are established there is no obligation
on the part of the Agent to determine or insure whether the amount of any such reserve is appropriate or not (including whether it is sufficient in amount). If Agent chooses to implement a reserve, Specified Bank Products Provider acknowledges and
agrees that Agent shall be entitled to rely on the information in the reports described above to establish the Bank Product Reserve Amount. 

5. Bank Product Obligations. From and after the delivery to Agent of this agreement duly executed by Specified Bank Product Provider
and the acknowledgement of this agreement by Agent and Borrower, the obligations and liabilities of the Borrowers and the other Loan Parties to Specified Bank Product Provider in respect of Bank Products evidenced by the Specified Bank Product
Agreement shall constitute Bank Product Obligations (and which, in turn, shall constitute Obligations), and Specified Bank Product Provider shall constitute a Bank Product Provider until such time as Specified Bank Products Provider or its Affiliate
is no longer a Lender. Specified Bank Products Provider acknowledges that other Bank Products (which may or may not be Specified Bank Products) may exist at any time. 

6. Notices. All notices and other communications provided for hereunder shall be given in the form and manner provided in
Section 11 of the Credit Agreement, and, if to Agent, shall be mailed, sent, or delivered to Agent in accordance with Section 11 in the Credit Agreement, if to Borrower, shall be mailed, sent, or delivered to Borrower in
accordance with Section 11 in the Credit Agreement, and, if to Specified Bank Products Provider, shall be mailed, sent, or delivered to the address set forth below, or, in each case as to any party, at such other address as shall be
designated by such party in a written notice to the other party. 
  

					
	 If to Specified Bank

Products Provider:
	 	  

		 	  

		 	  

		 	Attn:	 	  

		 	Fax No.	 	  

 7. Miscellaneous. This agreement shall bind and inure to the benefit of the respective successors and
assigns of each of the parties hereto (including any successor agent pursuant to Section 15.9 of the Credit Agreement); provided, that Borrower may not assign this agreement or any rights or duties hereunder without the other
parties’ prior written consent and any prohibited assignment shall be absolutely void ab initio. Unless the context of this agreement clearly requires otherwise, references to 

[Bank Product Provider Agreement] 

 
the plural include the singular, references to the singular include the plural, the terms “includes” and “including” are not limiting, and the term “or” has, except
where otherwise indicated, the inclusive meaning represented by the phrase “and/or.” This agreement may be executed in any number of counterparts and by different parties on separate counterparts. Each of such counterparts shall be deemed
to be an original, and all of such counterparts, taken together, shall constitute but one and the same agreement. Delivery of an executed counterpart of this letter by telefacsimile or other means of electronic transmission shall be equally
effective as delivery of a manually executed counterpart. 
 8. Governing Law, Etc. THIS AGREEMENT SHALL BE SUBJECT TO THE PROVISIONS
REGARDING CHOICE OF LAW AND VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE SET FORTH IN SECTION 12 OF THE CREDIT AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY THIS REFERENCE, MUTATIS MUTANDIS. 

[signature pages to follow] 

[Bank Product Provider Agreement] 

 
			
	Sincerely,
	
	[SPECIFIED BANK PRODUCTS PROVIDER]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 Acknowledged, accepted, and agreed as of the date first written above: 

 

			
	CONNECTURE, INC.,
	a Delaware corporation, as Borrower
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

			
	DESTINATIONRX, INC.,
	a Delaware corporation, as Borrower
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 [Bank Product Provider Agreement] 

 Acknowledged, accepted, and agreed as of the date first written above: 

 

			
	WELLS FARGO BANK, NATIONAL ASSOCIATION,
	 a national banking association, as Agent

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 [Bank Product Provider Agreement] 

 EXHIBIT C-1 

FORM OF COMPLIANCE CERTIFICATE 

[on [Connecture/DRX] letterhead] 
  

					
	To:	  	Wells Fargo Bank, National Association
		  	One Boston Place, 18th Floor
		  	Boston, MA 02108
		  	Attn: Technology Finance Portfolio Manager
			
		  		  	 Re: Compliance Certificate dated                  ,
20    

 Ladies and Gentlemen: 

Reference is made to that certain Credit Agreement entered into as of January 15, 2013, by and among the lenders signatory thereto (each
of such lenders, together with its successors and permitted assigns, is referred to hereinafter as a “Lender”, as that term is hereinafter further defined), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking
association, as administrative agent for each member of the Lender Group and the Bank Product Providers (in such capacity, together with its successors and assigns in such capacity, “Agent”), Connecture, Inc., a Delaware corporation
(“Connecture”), and DestinationRX, Inc., a Delaware corporation (“DRX’; together with Connecture, are referred to hereinafter each individually as a “Borrower”, and individually and collectively,
jointly and severally, as the “Borrowers”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. 

Pursuant to Section 5.1 of the Credit Agreement, the undersigned officer of each Borrower hereby certifies with respect to the
Borrower to which it is an officer as of the date hereof that: 
 1. The financial information of such Borrower and its Subsidiaries
furnished in Schedule 1 attached hereto, has been prepared in accordance with GAAP (except, in the case of unaudited financial statements, for year-end audit adjustments and the lack of footnotes), and fairly presents in all material respects
the financial condition of such Borrower and its Subsidiaries as of the date set forth therein. 
 2. Each such officer has reviewed the
terms of the Credit Agreement and has made, or caused to be made under his/her supervision, a review in reasonable detail of the transactions and financial condition of the applicable Borrower and its Subsidiaries during the accounting period
covered by the financial statements delivered pursuant to Section 5.1 of the Credit Agreement. 
 3. Such review has not
disclosed the existence on and as of the date hereof, and the undersigned does not have knowledge of the existence as of the date hereof, of any event or condition that constitutes a Default or Event of Default, except for such conditions or events
listed on Schedule 2 attached hereto, in each case specifying the nature and period of existence thereof and what action Parent and/or its Subsidiaries have taken, are taking, or propose to take with respect thereto. 

 4. Except as set forth on Schedule 3 attached hereto, the representations and warranties
of such Borrower and its Subsidiaries set forth in the Credit Agreement and the other Loan Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties
that already are qualified or modified by materiality in the text thereof) on and as of the date hereof (except to the extent that such representations and warranties relate solely to an earlier date, in which case such representations and
warranties shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) as of such
earlier date. 
 5. As of the date hereof, such Borrower and its Subsidiaries are in compliance with the applicable covenants contained in
Section 7 of the Credit Agreement as demonstrated on Schedule 4 hereof. 
 [Signature page follows.] 

 IN WITNESS WHEREOF, this Compliance Certificate is executed by the undersigned this
     day of             , 20     . 
  

			
	 CONNECTURE, INC.,

	 a Delaware corporation, as Borrower

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 DESTINATIONRX, INC.,

	 a Delaware corporation, as Borrower

		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

 [Exhibit C-1 Form of Compliance Certificate] 

 SCHEDULE 1 

Financial Information 

 SCHEDULE 2 

Default or Event of Default 

 SCHEDULE 3 

Representations and Warranties 

 SCHEDULE 4 

Financial Covenants [To be updated] 
  

	1.	Fixed Charge Coverage Ratio. 

 Such Borrower’s and its
Subsidiaries’ Fixed Charge Coverage Ratio, measured on a quarter-end basis, for the     quarter period ending             , 20    ,
is    :1.0, which ratio is greater than or equal to the ratio set forth in Section 7(a) of the Credit Agreement for the corresponding period. 
  

	2.	Leverage Ratio. 

 Such Borrower’s and its Subsidiaries’ Leverage
Ratio, measured on a quarter-end basis, as of the last day of the quarter ending             , 20    , is    :1.0, which is less than or equal to the
ratio set forth in Section 7(b) of the Credit Agreement for the corresponding date. 

 EXHIBIT L-1 

FORM OF LIBOR NOTICE 
 Wells Fargo Bank,
N.A., as Agent 
 under the below referenced Credit Agreement 

One Boston Place, 18th Floor 
 Boston, MA 02108 

Ladies and Gentlemen: 
 Reference hereby is made
to that certain Credit Agreement entered into as of January 15, 2013, by and among the lenders signatory thereto (each of such lenders, together with its successors and permitted assigns, is referred to hereinafter as a
“Lender”, as that term is hereinafter further defined), WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as administrative agent for each member of the Lender Group and the Bank Product Providers (in
such capacity, together with its successors and assigns in such capacity, “Agent”), Connecture, Inc., a Delaware corporation (“Connecture”), and DestinationRX, Inc., a Delaware corporation (“DRX”;
together with Connecture, are referred to hereinafter each individually as a “Borrower”, and individually and collectively, jointly and severally, as the “Borrowers”) 

This LIBOR Notice represents Borrower’s request to elect the LIBOR Option with respect to outstanding Revolving Loans or the Term Loan in
the amount of $        (the “LIBOR Rate Advance”), and is a written confirmation of the telephonic notice of such election given to Agent. 

The LIBOR Rate Advance will have an Interest Period of 1, 2, 3, or 6 month(s) commencing
on                    . 
 This LIBOR
Notice further confirms Borrower’s acceptance, for purposes of determining the rate of interest based on the LIBOR Rate under the Credit Agreement, of the LIBOR Rate as determined pursuant to the Credit Agreement. 

Each Borrower represents and warrants that (i) as of the date hereof, the representations and warranties of the Borrowers or their
respective Subsidiaries contained in this Agreement and in the other Loan Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are
qualified or modified by materiality in the text thereof) on and as of the date hereof, as though made on and as of such date (except to the extent that such representations and warranties relate solely to an earlier date, in which case such
representations and warranties shall be true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by

 Wells Fargo Bank, N.A., as Agent 

Page 2 
  

 
materiality in the text thereof) as of such earlier date)), (ii) each of the covenants and agreements contained in any Loan Document have been performed (to the extent required to be
performed on or before the date hereof or each such effective date), and (iii) no Default or Event of Default has occurred and is continuing on the date hereof, nor will any thereof occur after giving effect to the request above. 

 

			
	Dated:	 	  

	
	CONNECTURE, INC., a Delaware corporation, as Borrower
		
	 By
	 	  

	 Name:
	 	  

	 Title:
	 	  

	
	 DESTINATIONRX, INC., a Delaware

corporation, as Borrower

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

	
	Acknowledged by:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, as Agent

  

			
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Exhibit L-1 -Form of LIBOR Notice] 

  

 EXHIBIT P-1 

FORM OF PERFECTION CERTIFICATE 

Reference is hereby made to (a) that certain Credit Agreement dated as of January 15, 2013 (as amended, restated, supplemented, or
otherwise modified from time to time, the “Credit Agreement”) by and among Connecture, Inc., a Delaware corporation (“Connecture”), DestinationRX, Inc. (“DRX, and together with Connecture, each a
“Borrower,” and together, the “Borrowers”), the lenders party thereto as “Lenders” (each of such Lenders, together with its successors and permitted assigns, is referred to hereinafter as a
“Lender”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“Wells Fargo”), in its capacity as administrative agent for each member of the Lender Group and the Bank Product Providers (in
such capacity, together with its successors and assigns in such capacity, “Agent”), and (b) that certain Guaranty and Security Agreement dated as of January 15, 2013 (as amended, restated, supplemented, or otherwise
modified from time to time, the “Guaranty and Security Agreement”) by and among the Borrowers, the Subsidiaries of Borrower parties thereto as “Grantors,” and Agent. 

All initially capitalized terms used herein without definition shall have the meanings ascribed thereto in the Credit Agreement. Any terms
(whether capitalized or lower case) used in this Perfection Certificate that are defined in the Code shall be construed and defined as set forth in the Code unless otherwise defined herein or in the Credit Agreement; provided that to
the extent that the Code is used to define any term used herein and if such term is defined differently in different Articles of the Code, the definition of such term contained in Article 9 of the Code shall govern. As used herein, the term
“Loan Parties” shall mean the “Loan Parties” as that term is defined in the Credit Agreement and “Code” shall mean the “Code” as that term is defined in the Guaranty and Security Agreement. 

The undersigned, the Chief Financial Officers of the Connecture and DRX, hereby certifies (in their capacity as Chief Financial Officer and
not in an individual capacity) to Agent and each of the other members of the Lender Group and the Bank Product Providers as follows as of January, 15 2013: 

1. Names. 
 (a) The exact
legal name of each Loan Party, as such name appears in its certified certificate of incorporation, articles of incorporation, certificate of formation, or any other organizational document, is set forth in Schedule 1(a). Each Loan
Party is (i) the type of entity disclosed next to its name in Schedule 1(a) and (ii) a registered organization except to the extent disclosed in Schedule 1(a). Also set forth in Schedule 1
(a) is the organizational identification number, if any, of each Loan Party that is a registered organization, the Federal Taxpayer Identification Number of each Loan Party and the jurisdiction of formation of each Loan Party. Each Loan
Party has qualified to do business in the states listed on Schedule 1(a). 
 (b) Set forth in Schedule 1(b)
hereto is a list of any other legal names each Loan Party has had in the past five years, together with the date of the relevant name change. 

(c) Set forth in Schedule 1(c) is a list of all other names used by each Loan Party in connection with any business or
organization to which such Loan Party became the successor by merger, consolidation, acquisition, change in form, nature or jurisdiction of organization or otherwise or on any filings with the Internal Revenue Service, in each case, at any time in
the past five years. Except as set forth in Schedule 1(c), no Loan Party has changed its jurisdiction of organization at any time during the past four months. 

 2. Chief Executive Offices. The chief executive office of each Loan Party is located at
the address set forth in Schedule 2 hereto. 
 3. Real Property. 

(a) Attached hereto as Schedule 3(a) is a list of all (i) Real Property (as defined in the Guaranty and Security Agreement)
of each Loan Party, (ii) filing offices for any mortgages encumbering the Real Property or to encumber, the Real Property as of the Closing Date, (iii) common names, addresses and uses of each parcel of Real Property (stating improvements
located thereon) and (iv) other information relating thereto required by such Schedule. Except as described on Schedule 3(a) attached hereto: (A) no Loan Party has entered into any leases, subleases, tenancies, franchise
agreements, licenses or other occupancy arrangements as owner, lessor, sublessor, licensor, franchisor or grantor with respect to any of the real property described on Schedule 3(a) and (B) no Loan Party has any leases which
require the consent of the landlord, tenant or other party thereto to the transactions contemplated by the Loan Documents. 
 (b)
Schedule 3(b) sets forth all third parties (“Bailees”) with possession of any Collateral (including inventory and equipment) of the Loan Parties, including the name and address of such Bailee, a description of the inventory
and equipment in such Bailee’s possession and the location of such inventory and equipment (if none please so state). 
 4.
Extraordinary Transactions. Except for those purchases, mergers, acquisitions, consolidations, and other transactions described on Schedule 4 attached hereto, all of the Collateral has been originated by each Loan Party in the
ordinary course of business or consists of goods which have been acquired by such Loan Party in the ordinary course of business from a person in the business of selling goods of that kind. 

5. File Search Reports. Attached hereto as Schedule 5 is a true and accurate summary of certified file search reports
from (a) the Uniform Commercial Code filing offices (i) in each jurisdiction of formation identified in Section 1 (a) and in each location identified Section 2 with respect to each legal name set forth in Section 1 and
(ii) in each jurisdiction described in Schedule 1(c) or Schedule 3 relating to any of the transactions described in Schedule 1(c) or Schedule 4 with respect to each legal name of the
person or entity from which each Loan Party purchased or otherwise acquired any assets and (b) each filing office in each real estate recording office identified on Schedule 3(a) for any Real Property Collateral] A true copy of
each financing statement, including judgment and tax liens, bankruptcy and pending lawsuits or other filing identified in such file search reports has been delivered to Agent. 

6. UCC Filings. The financing statements (duly authorized by each Loan Party constituting the debtor therein), including the
indications of the collateral, attached as Schedule 6 relating to the Guaranty and Security Agreement or the Real Property, are in the appropriate forms for filing in the filing offices in the jurisdictions identified in Schedule
6 hereof. 
  

	1	Please note that the list of real estate locations that need to be searched shall be determined after Schedule 3(a) is provided. 

 7. Schedule of Filings. Attached hereto as Schedule 7 is a schedule of (i)
the appropriate filing offices for the financing statements attached hereto as Schedule 6 and (ii) the appropriate filing offices for the filings described in Schedule 11(c) and (iii) any other actions required to
create, preserve, protect and perfect the security interests in the Collateral (as defined in the Guaranty and Security Agreement) granted, assigned or pledged to Agent pursuant to the Guaranty and Security Agreement or any other Loan Document. No
other filings or actions are required to create, preserve, protect and perfect the security interests in the Collateral granted, assigned or pledged to Agent pursuant to the Loan Documents. 

8. Termination Statements. Attached hereto as Schedule 8 are the duly authorized termination statements in the
appropriate form for filing in each applicable jurisdiction identified in Schedule 8 hereto with respect to each Lien described therein. 

9. Stock Ownership and Other Equity Interests. Attached hereto as Schedule 9(a) is a true and correct list of each of all
of the authorized, and the issued and outstanding, Equity Interests of each Loan Party and its Subsidiaries and the record and beneficial owners of such Equity Interests. Also set forth on Schedule 9(a) is each equity investment of
each Loan Party that represents 50% or less of the equity of the entity in which such investment was made. Attached hereto as Schedule 9(b) is a true and correct organizational chart of the [Connecture/DRX] and its Subsidiaries. 

10. Instruments and Chattel Paper. Attached hereto as Schedule 10 is a true and correct list of all promissory notes,
instruments (other than checks to be deposited in the ordinary course of business), tangible chattel paper, electronic chattel paper and other evidence of Indebtedness held by each Loan Party as of January 15, 2013 having an aggregate value or
face amount in excess of $100,000, including all intercompany notes between or among any two or more Loan Parties or any of their Subsidiaries. 

11. Intellectual Property. 

(a) Schedule 11 (a) provides a complete and correct list of all registered Copyrights (as defined in the Guaranty and
Security Agreement) owned by any Loan Party, all applications for registration of Copyrights owned by any Loan Party, and all other Copyrights owned by any Loan Party and material to the conduct of the business of any Loan Party. Schedule 11
(a) provides a complete and correct list of all Patents (as defined in the Guaranty and Security Agreement) owned by any Loan Party and all applications for Patents owned by any Loan Party. Schedule 11(a) provides a
complete and correct list of all registered Trademarks (as defined in the Guaranty and Security Agreement) owned by any Loan Party, all applications for registration of Trademarks owned by any Loan Party, and all other Trademarks owned by any Loan
Party and material to the conduct of the business of any Loan Party. 
 (b) Schedule 11(b) provides a complete and correct
list of all Intellectual Property Licenses (as defined in the Guaranty and Security Agreement) entered into by any Loan Party pursuant to which (i) any Loan Party has provided any license or other rights in Intellectual Property (as defined in
the Guaranty and Security Agreement) owned or controlled by such Loan Party to any other Person (other than non-exclusive software licenses granted in the ordinary course of business) or (ii) any Person has granted to any Loan Party any license
or other rights in Intellectual Property owned or controlled by such Person that is material to the business of such Loan Party, including any Intellectual Property that is incorporated in any Inventory, software, or other product marketed, sold,
licensed, or distributed by such Loan Party; 
 (c) Attached hereto as Schedule 11(c) in proper form for filing with the
United States Patent and Trademark Office and United States Copyright Office (as applicable) are the filings 

 
necessary to preserve, protect and perfect the security interests in the United States Trademarks, United Patents, United States Copyrights and Intellectual Property Licenses set forth on
Schedule 11(a) and Schedule 11(b), including duly signed copies of each of the Patent Security Agreement, Trademark Security Agreement and the Copyright Security Agreement, as applicable. 

12. Commercial Tort Claims. Attached hereto as Schedule 12 is a true and correct list of all commercial tort claims that
exceed $100,000 held by each Loan Party, including a brief description thereof. 
 13. Deposit Accounts and Securities Accounts.
Attached hereto as Schedule 13 is a true and complete list of all Deposit Accounts and Securities Accounts (each as defined in the Guaranty and Security Agreement) maintained by each Loan Party, including the name of each institution
where each such account is held, the name of each such account and the name of each entity that holds each account. 
 14.
Letter-of-Credit Rights. Attached hereto as Schedule 14 is a true and correct list of all letters of credit issued in favor of any Loan Party, as beneficiary thereunder, having an aggregate value or face amount in excess of
$100,000. 
 15. Other Assets: A Loan Party owns the following kinds of assets: 

 

									
	 Aircraft:
	  	 	Yes        	  	  	 	No        	  
			
	 Vessels, boats or ships:
	  	 	Yes        	  	  	 	No        	  
			
	 Railroad rolling stock:
	  	 	Yes        	  	  	 	No        	  
			
	 Motor Vehicles or similar titled collateral.
	  	 	Yes        	  	  	 	No        	  

 If the answer is yes to any of these other types of assets, please describe on Schedule 15. 

[The Remainder of this Page has been intentionally left blank] 

 IN WITNESS WHEREOF, we have hereunto signed this Perfection Certificate as of this
            day of    , 20        . 
  

			
	CONNECTURE, INC., a Delaware corporation
		
	By:	 	  

		 	Name:
		 	Title:
	
	DESTINATIONRX, INC., a Delaware corporation
		
	By:	 	  

		 	Name:
		 	Title:
	
	INSURIX, INC., a Connecticut Corporation
		
	By:	 	  

		 	Name:
		 	Title:
	
	RXHEALTH INSURANCE AGENCY, INC., a Connecticut Corporation
		
	By:	 	  

		 	Name:
		 	Title:

 [EXHIBIT P-1 – FORM PERFECTION CERTIFICATE] 

 Schedule l(a) 

Legal Names, Etc. 
  

											
	 Legal Name
	  	Type of Entity	  	Registered
Organization
(Yes/No)	  	Organizational
Number2	  	Federal Taxpayer
Identification Number	  	Jurisdiction of Formation

  

 

	2 	If none, so state. 

  
 - 3 - 

 Schedule l(b) 

Prior Names 
  

					
	 Loan Party/Subsidiary
	  	Prior Name	  	Date of Change

  
 - 4 - 

 Schedule l(c) 

Changes in Corporate Identity; Other Names 
  

											
	 Loan
Party/Subsidiary
	  	Name of Entity	  	Action	  	Date of Action	  	State of Formation	  	List of All Other
Names Used on Any
Filings with the
Internal Revenue
Service During Past
Five Years

Add Information required by Section 1 to the extent required by Section 1(c) of the Perfection Certificate 

  
 - 5 - 

 Schedule 2 

Chief Executive Offices 
  

							
	 Loan
Party/Subsidiary
	  	Address	  	County	  	State

  
 - 6 - 

 Schedule 3(a) 

Real Property 
  

																					
	 Entity of
Record
	  	Common
Name and
Address	 	Owned,
Leased or
Other
Interest	 	Landlord
/ Owner
if Leased
or Other
Interest	 	Description of
Lease or
Other
Documents
Evidencing
Interest	 	Purpose/
Use	 	Improvements
Located on
Real
Property	 	Legal
Description	 	Encumbered
or to be
Encumbered
by Mortgage	 	Filing
Office for
Mortgage	 	Option to
Purchase/Right
of First Refusal
	 [    ]
	  	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[SEE
EXHIBIT A-
[    ]ATTACHED
HERETO]	 	[YES/NO]	 	[    ]	 	[YES/NO]

  
 - 7 - 

 Schedule 3(a) 

Real Property (cont.) 

Required Consents; Loan Party Held Landlord/Grantor Interests 

I. Landlord’s / Tenant’s Consent Required 

1. [LIST EACH LEASE OR OTHER INSTRUMENT WHERE LANDLORD’S / TENANT’S CONSENT IS REQUIRED]. 

II. Leases, Subleases, Tenancies, Franchise Agreements, Licenses or Other Occupancy Agreements Pursuant to which any Loan Party holds Landlord’s /
Grantor’s Interest 
 1. [LIST EACH LEASE OR OTHER INSTRUMENT WHERE ANY LOAN PARTY HOLDS LANDLORD’S / GRANTOR’S INTEREST] 

  
 - 8 - 

 Schedule 3(b) 

Bailees 

  
 - 9 - 

 Schedule 4 

Transactions Other Than in the Ordinary Course of Business 

 

					
	 Loan Party/Subsidiary
	  	Description of Transaction Including Parties
Thereto	  	Date of
Transaction

  
 - 10 - 

 Schedule 5 

Certified File Search Reports 
  

							
	 Loan Party/Subsidiary
	  	Search Report dated	  	Prepared by	  	Jurisdiction

 See attached. 

  
 - 11 - 

 Schedule 6 

Copy of Financing Statements To Be Filed 

See attached. 

  
 - 12 - 

 Schedule 7 

Filings/Filing Offices 
  

							
	 Type of Filing3
	  	Entity	  	Applicable Collateral
Document
[Mortgage, Security
Agreement or Other]	  	Jurisdictions

  

	3 	UCC-I financing statement, fixture filing, mortgage, intellectual property filing or other necessary filing. 

  
 - 13 - 

 Schedule 8 

Attached hereto is a true copy of each termination statement filing duly acknowledged or otherwise identified by the filing officer. 

Termination Statement Filings 
  

											
	 Debtor
	  	Jurisdiction	  	Secured Party	  	Type of Collateral	  	UCC-1
File Date	  	UCC-1
File
Number

  
 - 14 - 

 Schedule 9(a) 

(a) Equity Interests of Loan Parties and Subsidiaries 
  

									
	 Current Legal

Entities Owned
	  	Record Owner	  	Certificate No.	  	No. Shares/Interest	  	Percent
Pledged

 (b)
Other Equity Interests 

  
 - 15 - 

 Schedule 9(b) 

Organizational Chart 

  
 - 16 - 

 Schedule 10 

Instruments and Chattel Paper 
  

	1.	Promissory Notes: 

  

									
	 Entity
	  	Principal
Amount	  	Date of Issuance	  	Interest Rate	  	Maturity Date

  

	2.	Chattel Paper: 

  
 - 17 - 

 Schedule 11(a) 

Copyrights, Patents and Trademarks 

UNITED STATES COPYRIGHTS 
 Registrations: 

 

					
	OWNER	  	TITLE	  	REGISTRATION NUMBER

 Applications: 

 

			
	OWNER	  	APPLICATION NUMBER

 OTHER COPYRIGHTS 

Registrations: 
  

							
	OWNER	  	COUNTRY/STATE	  	TITLE	  	REGISTRATION NUMBER

 Applications: 

 

					
	OWNER	  	COUNTRY/STATE	  	APPLICATION NUMBER

  
 - 18 - 

 Schedule 11 (a)

Copyrights, Patents and Trademarks (cont.) 

UNITED STATES PATENTS: 
 Registrations: 

 

					
	 OWNER
	  	REGISTRATION
NUMBER	  	DESCRIPTION

Applications: 
  

					
	 OWNER
	  	APPLICATION
NUMBER	  	DESCRIPTION

OTHER PATENTS: 
 Registrations: 

 

							
	 OWNER
	  	REGISTRATION
NUMBER	  	COUNTRY/STATE	  	DESCRIPTION

Applications: 
  

							
	 OWNER
	  	APPLICATION
NUMBER	  	COUNTRY/STATE	  	DESCRIPTION

  

  
 - 19 - 

 Schedule 11(a)

Copyrights, Patents and Trademarks (cont.) 

UNITED STATES TRADEMARKS: 
 Registrations: 

 

					
	 OWNER
	  	 REGISTRATION
NUMBER
	  	
TRADEMARK

Applications: 
  

					
	 OWNER
	  	 APPLICATION
NUMBER
	  	
TRADEMARK

OTHER TRADEMARKS: 
 Registrations: 

 

							
	 OWNER
	  	REGISTRATION
NUMBER	  	COUNTRY/STATE	  	TRADEMARK

Applications: 
  

							
	 OWNER
	  	APPLICATION
NUMBER	  	COUNTRY/STATE	  	TRADEMARK

  
 - 20 - 

 Schedule 11(b) 

Intellectual Property Licenses 
  

									
	 LICENSEE
	  	LICENSOR	  	COUNTRY/STATE	  	REGISTRATION/
APPLICATION
NUMBER, IF
ANY	  	DESCRIPTION

  
 - 21 - 

 Schedule 11(c) 

Intellectual Property Filings 

  
 - 22 - 

 Schedule 12 

Commercial Tort Claims 

  
 - 23 - 

 Schedule 13 

Deposit Accounts and Securities Accounts 
  

							
	OWNER	  	TYPE OF ACCOUNT	  	BANK OR
INTERMEDIARY	  	ACCOUNT
NUMBERS

  
 - 24 - 

 Schedule 14 

Letter of Credit Rights 

  
 - 25 - 

 Schedule 15 

Other Assets 

  
 - 26 - 

 FORM OF SUPPLEMENT TO PERFECTION CERTIFICATE 

Supplement (this “Supplement”), dated as of            ,
20    , to the Perfection Certificate, dated as of January 15, 2013 (as amended, restated, supplemented or otherwise modified from time to time, the “Perfection Certificate”) by each of the parties listed on
the signature pages thereto and those additional entities that thereafter become Loan Parties (collectively, jointly and severally, “Grantors” and each individually “Grantor”). 

Reference is hereby made to (a) that certain Credit Agreement dated as of January 15, 2013 (as amended, restated, supplemented, or
otherwise modified from time to time, the “Credit Agreement”) by and among Connecture, Inc., a Delaware corporation (“Connecture”), DestinationRX, Inc. (“DRX, and together with Connecture, each a
“Borrower,” and together, the “Borrowers”), the lenders party thereto as “Lenders” (each of such Lenders, together with its successors and permitted assigns, is referred to hereinafter as a
“Lender”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association (“Wells Fargo”), in its capacity as administrative agent for each member of the Lender Group and the Bank Product Providers (in
such capacity, together with its successors and assigns in such capacity, “Agent”), and (b) that certain Guaranty and Security Agreement dated as of January 15, 2013 (as amended, restated, supplemented, or otherwise
modified from time to time, the “Guaranty and Security Agreement”) by and among the Borrowers, the Subsidiaries of Borrower parties thereto as “Grantors,” and Agent. 

All initially capitalized terms used herein without definition shall have the meanings ascribed thereto in the Credit Agreement. Any terms
(whether capitalized or lower case) used in this Perfection Certificate that are defined in the Code shall be construed and defined as set forth in the Code unless otherwise defined herein or in the Credit Agreement; provided that to
the extent that the Code is used to define any term used herein and if such term is defined differently in different Articles of the Code, the definition of such term contained in Article 9 of the Code shall govern. As used herein, the term
“Code” shall mean the “Code” as that term is defined in the Guaranty and Security Agreement. 
 WHEREAS, pursuant
to Section 5.2 of the Credit Agreement, the Loan Parties must execute and deliver a Perfection Certificate and the execution and delivery of the Perfection Certificate may be accomplished by the execution of this Supplement in favor of
Agent, for the benefit of each member of the Lender Group and the Bank Product Providers; 
 In accordance with Section 5.2 of
the Credit Agreement, the undersigned, the Chief Financial Officers of Connecture and DRX, hereby certify (in their capacity as Chief Financial Officer and not in any individual capacity) to Agent and each of the other members of the Lender Group
and the Bank Product Providers as follows as of             ,20     : the information in the Perfection Certificate delivered on or prior to the Closing Date is true,
correct, and complete on and as of the date hereof. Schedule 1(a), “Legal Names, Etc.”, Schedule 1(b), “Prior Names”, Schedule 1(c), “Changes in Corporate Identity; Other Names”, Schedule 2,
“Chief Executive Offices”, Schedule 3(a), “Real Property”, Schedule 3(b), “Bailees”, Schedule 4, “Transactions Other Than in the Ordinary Course of Business”, Schedule 9(a),
“Equity Interests”, Schedule 9(b), “Organizational Chart” Schedule 10, “Instruments and Chattel Paper”, Schedule 11(a), “Copyrights, Patents and Trademarks”, Schedule 11(b),
“Intellectual Property Licenses”, Schedule 12, “Commercial Tort Claims”, Schedule 13, “Deposit Accounts and Securities Accounts”, Schedule 14, “Letter-of-Credit Rights”, and Schedule
15, “Other Assets” attached hereto supplement Schedule 1(a), Schedule (1(b), Schedule 1(c), Schedule 2, Schedule 3, Schedule 4, Schedule 9(a), Schedule 9(b), Schedule 10,
Schedule 11(a), Schedule 11(b), Schedule 12, Schedule 13, Schedule 14, Schedule 15, respectively, to the Perfection Certificate and shall be deemed a part thereof for all purposes of the Perfection
Certificate. 

  
 - 27 - 

 The undersigned officers of each of the Loan Parties hereby certify as of the date hereof on
behalf of the Loan Parties in their capacity as officers of the Loan Parties and not in their individual capacities that no additional filings or actions are required to create, preserve or perfect the security interests in the Collateral granted,
assigned or pledged to Agent pursuant to the Loan Documents. 
 Except as expressly supplemented hereby, the Perfection Certificate shall
remain in full force and effect. 
 IN WITNESS WHEREOF, we have hereunto signed this Supplement to Perfection Certificate as of this
    day of            , 20    . 
  

			
	CONNECTURE, INC. / DESTINATIONRX, INC.
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	 [Each of the Guarantors of Connecture/DRX]

		
	 By:
	 	  

		 	Name:
		 	Title:

  
 - 28 - 

 Schedule 1(a) 

Legal Names, Etc. 
  

											
	 Legal Name
	  	 Type of Entity
	  	 Registered

Organization

(Yes/No)
	  	 Organizational

Number4
	  	 Federal Taxpayer
Identification Number
	  	 Jurisdiction of
Formation

 
  

	4 	If none, so state. 

  
 - 29 - 

 Schedule 1(b) 

Prior Names 
  

					
	 Loan Party/Subsidiary
	  	 Prior Name
	  	 Date of Change

 

  
 - 30 - 

 Schedule 1(c) 

Changes in Corporate Identity; Other Names 
  

											
	 Loan Party/Subsidiary
	  	 Name of Entity
	  	 Action
	  	 Date of Action
	  	 State of Formation
	  	 List of All Other
Names Used on Any
Filings with
the
Internal Revenue
Service During Past
Five Years

 [Add Information required by Section 1 to the
extent required by Section 1(c) of the Perfection Certificate] 
  

  
 - 31 - 

 Schedule 2 

Chief Executive Offices 
  

							
	 Loan

Party/Subsidiary
	  	 Address
	  	 County
	  	 State

  
 - 32 - 

 Schedule 3(a) 

Real Property 
  

																					
	 Entity of

Record
	  	Common
Name and
Address	 	Owned,
Leased or
Other
Interest	 	Landlord
/ Owner
if Leased
or Other
Interest	 	Descrip-
tion of
Lease or
Other
Documents
Evidencing
Interest	 	Purpose/
Use	 	Improve-
ments
Located on
Real
Property	 	Legal
Description	 	Encumbered
or to be
Encumbered
by Mortgage	 	Filing
Office for
Mortgage	 	Option to
Purchase/Right
of First Refusal
	 [    ]
	  	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[    ]	 	[SEE
EXHIBIT
A- [    ]
ATTACHED
HERETO]	 	[YES/NO]	 	[    ]	 	[YES/NO]

  
 - 33 - 

 Schedule 3(a) 

Real Property (cont.) 

Required Consents; Loan Party Held Landlord/ Grantor Interests 

I. Landlord’s / Tenant’s Consent Required 

1. [LIST EACH LEASE OR OTHER INSTRUMENT WHERE LANDLORD’S / TENANT’S CONSENT IS REQUIRED]. 

II. Leases, Subleases, Tenancies, Franchise Agreements, Licenses or Other Occupancy Agreements Pursuant to which any Loan Party holds Landlord’s /
Grantor’s Interest 
 1. [LIST EACH LEASE OR OTHER INSTRUMENT WHERE ANY LOAN PARTY HOLDS LANDLORD’S / GRANTOR’S INTEREST 

  
 - 34 - 

 Schedule 3(a) 

Real Property (cont.) 

Required Consents; Loan Party Held Landlord/ Grantor Interests 

I. Landlord’s / Tenant’s Consent Required 

1. [LIST EACH LEASE OR OTHER INSTRUMENT WHERE LANDLORD’S / TENANT’S CONSENT IS REQUIRED]. 

II. Leases, Subleases, Tenancies, Franchise Agreements, Licenses or Other Occupancy Agreements Pursuant to which any Loan Party holds Landlord’s /
Grantor’s Interest 
 1. [LIST EACH LEASE OR OTHER INSTRUMENT WHERE ANY LOAN PARTY HOLDS LANDLORD’S / GRANTOR’S INTEREST] 

  
 - 35 - 

 Schedule 3(b) 

Bailees 

  
 - 36 - 

 Schedule 4 

Transactions Other Than in the Ordinary Course of Business 

 

					
	 Loan Party/Subsidiary
	  	 Description of Transaction Including Parties

Thereto
	  	Date of
Transaction

  
 - 37 - 

 Schedule 9(a) 

(a) Equity Interests of Loan Parties and Subsidiaries 
  

									
	 Current Legal

Entities Owned
	  	 Record Owner
	  	 Certificate No.
	  	 No. Shares/Interest
	  	 Percent

Pledged

(b) Other Equity Interests 

  
 - 38 - 

 Schedule 9(b) 

Organizational Chart 

  
 - 39 - 

 Schedule 10 

Instruments and Chattel Paper 
  

	1.	Promissory Notes: 

  

									
	 Entity
	  	 Principal

Amount
	  	 Date of Issuance
	  	 Interest Rate
	  	 Maturity Date

 

	2.	Chattel Paper: 

  
 - 40 - 

 Schedule 11(a) 

Copyrights, Patents and Trademarks 
  

									
	 UNITED STATES COPYRIGHTS
  

Registrations:
  
	  	 	  	 	  	 	  	 
	OWNER	  	TITLE	  	REGISTRATION NUMBER	  	 	  	 
	  
 Applications:

 
	  	 	  	 	  	 	  	 
	OWNER	  	APPLICATION NUMBER	  	 	  	 	  	 
	  
 OTHER COPYRIGHTS

 
 Registrations:

 
	  	 	  	 	  	 	  	 
	OWNER	  	COUNTRY/STATE	  	TITLE	  	REGISTRATION NUMBER	  	 
	  
 Applications:

 
	  	 	  	 	  	 	  	 
	OWNER	  	COUNTRY/STATE	  	APPLICATION NUMBER	  	 	  	 

  
 - 41 - 

 Schedule 11(a) 

Copyrights, Patents and Trademarks (cont.) 

									
	  
 UNITED STATES PATENTS:

 
 Registrations:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	REGISTRATION
NUMBER	  	DESCRIPTION	  	 	  	 
	  
 Applications:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	APPLICATION
NUMBER	  	DESCRIPTION	  	 	  	 
	  
 OTHER PATENTS:

 
 Registrations:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	REGISTRATION
NUMBER	  	COUNTRY/STATE	  	DESCRIPTION	  	 
	  
 Applications:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	APPLICATION
NUMBER	  	COUNTRY/STATE	  	DESCRIPTION	  	 

  
 - 42 - 

 Schedule 11(a) 

Copyrights, Patents and Trademarks (cont.) 
  

									
	 UNITED STATES TRADEMARKS:
  

Registrations:
  
	  	 	  	 	  	 	  	 
	 OWNER
	  	REGISTRATION
NUMBER	  	TRADEMARK	  	 	  	 
	  
 Applications:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	APPLICATION
NUMBER	  	TRADEMARK	  	 	  	 
	  
 OTHER TRADEMARKS:

 
 Registrations:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	REGISTRATION
NUMBER	  	COUNTRY/STATE	  	TRADEMARK	  	 
	  
 Applications:

 
	  	 	  	 	  	 	  	 
	 OWNER
	  	APPLICATION
NUMBER	  	COUNTRY/STATE	  	TRADEMARK	  	 

  
 - 43 - 

 Schedule 11(b) 

Intellectual Property Licenses 
  

									
	 LICENSEE
	  	LICENSOR	  	COUNTRY/STATE	  	REGISTRATION/
APPLICATION
NUMBER, IF
ANY	  	DESCRIPTION

  
 - 44 - 

 Schedule 12 

Commercial Tort Claims 

  
 - 45 - 

 Schedule 13 

Deposit Accounts and Securities Accounts 
  

							
	OWNER	  	TYPE OF ACCOUNT	  	 BANK OR

INTERMEDIARY
	  	 ACCOUNT

NUMBERS

  
 - 46 - 

 Schedule 14 

Letter of Credit Rights 

  
 - 47 - 

 Schedule 15 

Other Assets 

  
 - 48 - 

 DISCLOSURE SCHEDULES 

relating to the transactions contemplated by that certain 

CREDIT AGREEMENT, 
 (the
“Agreement”), 
 by and among 

WELLS FARGO BANK, NATIONAL ASSOCIATION, 

as Administrative Agent, 
 THE
LENDERS THAT ARE PARTIES THERETO, 
 as Lenders, 

and 
 CONNECTURE, INC.,

 and 
 DESTINATIONRX,
INC., 
 as the Borrowers 

DATED AS OF JANUARY 15, 2013 

These disclosure schedules (each, a “Schedule,” and collectively, the “Schedules”) are furnished by or on behalf of the
Borrowers pursuant to and as part of the Agreement. Capitalized terms not defined herein shall have the meanings ascribed to them in the Agreement. Headings have been assigned to the various Schedules for convenience of reference only and shall not
be construed to affect the meaning or construction of the language in the body of such Schedules. 

 Schedule A-I 

Agent’s Account 

An account at a bank designated by Agent from time to time as the account into which Borrower shall make all payments to
Agent for the benefit of the Lender Group and into which the Lender Group shall make all payments to Agent under this Agreement and the other Loan Documents; unless and until Agent notifies Borrower and the Lender Group to the contrary, Agent’s
Account shall be that certain deposit account bearing account number ###### , reference Connecture, Inc., and maintained by Agent with Wells Fargo Bank, N.A., 420 Montgomery Street, San Francisco, CA, ABA ###### . 

  

 SCHEDULE A-2 

Authorized Persons 
  

	1.	Robert Douglas Schneider 

  

	2.	James Purko 

  

 Schedule C-1 

Commitments 
  

													
	 Lender
	  	Revolver Commitment	 	  	Term Loan
Commitment	 	  	Total Commitment	 
	 Wells Fargo Bank, National Association
	  	$	5,000,000	  	  	$	22,500,000	  	  	$	27,500,000	  
	 All Lenders
	  	$	5,000,000	  	  	$	22,500,000	  	  	$	27,500,000	  

  

 SCHEDULE D-1 

Designated Account 
  

			
	 BANK OR

INTERMEDIARY
	  	ACCOUNT NUMBER
	 ######
	  	######

  

 SCHEDULE P-1 

Permitted Investments 
  

	1.	Connecture, Inc. has a cash balance with Comerica Bank of approximately $613,000 as of December 29, 2012. 

  

	2.	Connecture, Inc. made a $250,000 security deposit in connection with the lease of office space at 18500 West Corporate Drive, Suite 250 in Brookfield, WI 53089. Such security deposit is held by the landlord, CORE Realty
Holdings Management, Inc. 

  

 SCHEDULE P-2 

Permitted Liens 
  

									
	 Loan Party
	  	 Secured Party
	  	 Type of Filing
	  	 File No.
	  	 Filing Date

	CONNECTURE, INC.	  	Ailco Equipment Finance Group, Inc.	  	UCC-1 Financing Statement	  	2012 2494914	  	6/28/2012
	CONNECTURE, INC.	  	Everbank Commercial Finance, Inc.	  	UCC-1 Financing Statement	  	2012 3313659	  	8/27/2012
	CONNECTURE, INC.	  	Dell Financial Services L.L.C.	  	UCC-1 Financing Statement	  	2012 3550839	  	3/14/2012
	DESTINATIONRX, INC.	  	Dell Financial Services	  	UCC-1 Financing Statement	  	2007 4102660	  	10/29/2007
	DESTINATIONRX, INC.	  	Mintaka Financial LLC	  	UCC-1 Financing Statement	  	2012 1540519	  	4/9/2012
	DESTINATIONRX, INC.	  	Mintaka Financial LLC	  	UCC-1 Financing Statement	  	12-7307630423	  	4/6/2012
	DESTINATIONRX, INC.	  	Susquehanna Commercial Finance, Inc.	  	UCC-1 Financing Statement	  	07-7112688101	  	5/4/2007

 Cash collateral in the amount of $250,000 held by Comerica in support of that certain Letter of Credit, dated May 8,
2012, issued by Comerica Bank in favor of Connecture, Inc. and for the benefit of CORE Realty Holdings Management, Inc. 
 Cash collateral in the amount of
$200,000 held by Comerica in support of that certain Letter of Credit, dated November 16, 2011, issued by Comerica Bank in favor of DestinationRX, Inc. and for the benefit of 600 Wilshire Property LLC. 

 SCHEDULE R-1 

Real Property Collateral 
 None. 

 Schedule 1.1 

As used in the Agreement, the following terms shall have the following definitions: 

“Accounting Changes” means changes in accounting principles required by the promulgation of any rule, regulation,
pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants (or successor thereto or any agency with similar functions). 

“Acquired Indebtedness” means Indebtedness of a Person whose assets or Equity Interests are acquired by a Borrower or any of
its Subsidiaries in connection with a Permitted Acquisition; provided, that such Indebtedness (a) is either purchase money Indebtedness or a Capital Lease with respect to Equipment or mortgage financing with respect to Real Property,
(b) was in existence prior to the date of such Permitted Acquisition, and (c) was not incurred in connection with, or in contemplation of, such Permitted Acquisition. 

“Acquisition” means (a) the purchase or other acquisition by a Person or its Subsidiaries of all or substantially all of the
assets of (or any division or business line of) any other Person, or (b) the purchase or other acquisition (whether by means of a merger, consolidation, or otherwise) by a Person or its Subsidiaries of all or substantially all of the Equity
Interests of any other Person. 
 “Acquisition Agreement” means that certain Merger Agreement, dated as of January 14,
2013, among Connecture, DRX, DRX Acquisition Company, and the Principal Stockholders named therein. 
 “Acquisition
Documents” means the Acquisition Agreement and all other documents related thereto and executed in connection therewith. 

“Additional Documents” has the meaning specified therefor in Section 5.12 of the Agreement. 

“Administrative Borrower” has the meaning specified therefor in Section 17.13 of the Agreement. 

“Administrative Questionnaire” has the meaning specified therefor in Section 13.1 (a) of the Agreement. 

“Affected Lender” has the meaning specified therefor in Section 2.13(b) of the Agreement. 

“Affiliate” means, as applied to any Person, any other Person who controls, is controlled by, or is under common control
with, such Person. For purposes of this definition, “control” means the possession, directly or indirectly through one or more intermediaries, of the power to direct the management and policies of a Person, whether through the ownership of
Equity Interests, by contract, or otherwise; provided, that, for purposes of Section 6.10 of the Agreement: (a) any Person which owns directly or indirectly 10% or more of the Equity Interests having ordinary voting power for
the election of directors or other members of the governing body of a Person or 10% or more of the partnership or other ownership interests of a Person (other than as a limited partner of such Person) shall be deemed an Affiliate of such Person,
(b) each director (or comparable manager) of a Person shall be deemed to be an Affiliate of such Person, and (c) each partnership in which a Person is a general partner shall be deemed an Affiliate of such Person. 

 “Agent” has the meaning specified therefor in the preamble to the Agreement.

 “Agent-Related Persons” means Agent, together with its Affiliates, officers, directors, employees, attorneys, and
agents. 
 “Agent’s Account” means the Deposit Account of Agent identified on Schedule A-1 to the Agreement (or such
other Deposit Account of Agent that has been designated as such, in writing, by Agent to Administrative Borrower and the Lenders). 

“Agent’s Liens” means the Liens granted by each Borrower or its Subsidiaries to Agent under the Loan Documents and
securing the Obligations. 
 “Agreement” means the Credit Agreement to which this Schedule 1.1 is attached. 

“Applicable Margin” means, as of any date of determination and with respect to Base Rate Loans or LIBOR Rate Loans, as
applicable, the applicable margin set forth in the following table that corresponds to the most recent Total Leverage Ratio calculation delivered to Agent pursuant to Section 5.1 of the Agreement (the “Total Leverage Ratio
Calculation”); provided, that for the period from the Closing Date through the date Agent receives the Total Leverage Ratio Calculation in respect of the testing period ending March 31, 2013, the Applicable Margin shall be set
at the margin in the row styled “Level III”; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Margin shall be set at the margin in the row styled “Level IIl”: 

 

							
	 Level
	  	 Total Leverage

Ratio Calculation
	  	 Applicable Margin Relative

to Base Rate Loans (the
 “Base
Rate Margin”)
	  	 Applicable Margin

Relative to LIBOR Rate
 Loans (the
“LIBOR
 Rate Margin”)

	I	  	If the Total Leverage Ratio is less 2.5:1.0	  	4.50 percentage points	  	5.50 percentage points
	II	  	If the Total Leverage Ratio is greater than or equal to 2.5:1.0 and less than or equal to 3.0:1.0	  	4.75 percentage points	  	5.75 percentage points
	III	  	If the Total Leverage Ratio is greater than 3.0:1.0	  	5.00 percentage points	  	6.00 percentage points

 Except as set forth in the foregoing proviso, the Applicable Margin shall be based upon the most recent Total
Leverage Ratio Calculation, which will be calculated as of the end of each fiscal quarter. Except as set forth in the foregoing proviso, the Applicable Margin shall be re-determined quarterly on the first day of the month following the date of
delivery to Agent of the certified calculation of the Total Leverage Ratio pursuant to Section 5.1 of the Agreement; 

  
 - 2 - 

 
provided, that if Borrowers fail to provide such certification when such certification is due, the Applicable Margin shall be set at the margin in the row styled “Level III” as
of the first day of the month following the date on which the certification was required to be delivered until the date on which such certification is delivered (on which date (but not retroactively), without constituting a waiver of any Default or
Event of Default occasioned by the failure to timely deliver such certification, the Applicable Margin shall be set at the margin based upon the calculations disclosed by such certification. In the event that the information regarding the Total
Leverage Ratio contained in any certificate delivered pursuant to Section 5.1 of the Agreement is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin for any period
(an “Applicable Period”) than the Applicable Margin actually applied for such Applicable Period, then (i) Borrowers shall immediately deliver to Agent a correct certificate for such Applicable Period, (ii) the Applicable
Margin shall be determined as if the correct Applicable Margin (as set forth in the table above) were applicable for such Applicable Period, and (iii) Borrowers shall immediately deliver to Agent full payment in respect of the accrued
additional interest as a result of such increased Applicable Margin for such Applicable Period, which payment shall be promptly applied by Agent to the affected Obligations. 

“Application Event” means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the
Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(ii) of the Agreement. 

“Assignee” has the meaning specified therefor in Section 13.1(a) of the Agreement. 

“Assignment and Acceptance” means an Assignment and Acceptance Agreement substantially in the form of Exhibit A-1 to
the Agreement. 
 “Authorized Person” means any one of the individuals identified on Schedule A-2 to the Agreement,
as such schedule is updated from time to time by written notice from Borrowers to Agent. 
 “Availability” means, as of any
date of determination, the amount that Borrowers are entitled to borrow as Revolving Loans under Section 2.1 of the Agreement (after giving effect to the then outstanding Revolver Usage). 

“Bank Product” means any one or more of the following financial products or accommodations extended to a Borrower or its
Subsidiaries by a Bank Product Provider: (a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”)), (b) credit card processing services,
(c) debit cards, (d) stored value cards, (e) Cash Management Services, or (f) transactions under Hedge Agreements. 

“Bank Product Agreements” means those agreements entered into from time to time by a Borrower or its Subsidiaries with a Bank
Product Provider in connection with the obtaining of any of the Bank Products. 
 “Bank Product Collateralization” means
providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent in its reasonable discretion
to be sufficient to satisfy the reasonably estimated credit exposure with 

  
 - 3 - 

 
respect to the then existing Bank Product Obligations (other than Hedge Obligations); provided that the Agent shall endeavor to provide substantially contemporaneous written detail of such
determination to the Borrowers, but a non-willful failure of Agent to so notify Borrowers shall not be a breach of this Agreement and shall not cause such establishment or increase of Bank Product Collateralization to be ineffective. 

“Bank Product Obligations” means (a) all obligations, liabilities, reimbursement obligations, fees, or expenses owing by
each Borrower and its Subsidiaries to any Bank Product Provider pursuant to or evidenced by a Bank Product Agreement and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now
existing or hereafter arising, (b) all Hedge Obligations, and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a result of Agent or such Lender purchasing participations from, or executing
guarantees or indemnities or reimbursement obligations to, a Bank Product Provider with respect to the Bank Products provided by such Bank Product Provider to a Borrower or one of its Subsidiaries. 

“Bank Product Provider” means Wells Fargo or any of its Affiliates, including each of the foregoing in its capacity, if
applicable, as a Hedge Provider 
 “Bank Product Provider Agreement” means an agreement in substantially the form attached
hereto as Exhibit B-2 to the Agreement, in form and substance satisfactory to Agent, duly executed by the applicable Bank Product Provider, Borrowers, and Agent. 

“Bank Product Reserves” means, as of any date of determination, those reserves that Agent deems necessary to establish (based
upon the Bank Product Providers’ reasonable determination of the liabilities and obligations of each Borrower and its Subsidiaries in respect of Bank Product Obligations) in respect of Bank Products then provided or outstanding; provided
that the Agent shall provide written detail of such determination to the Borrowers prior to instituting any Bank Product Reserves, but a non-willful failure of Agent to so notify Borrowers shall not be a breach of this Agreement and shall not cause
such establishment or increase of such Bank Product Reserve to be ineffective. 
 “Bankruptcy Code” means Title 11 of the
United States Code, as in effect from time to time. 
 “Base Rate” means the greatest of (a) the Federal Funds Rate
plus  1⁄2, (b) the LIBOR Rate (which rate shall be calculated based upon an Interest Period of 1 month and shall be determined on a daily basis), plus 1
percentage point, and (c) the rate of interest announced, from time to time, within Wells Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that the “prime rate” is one of Wells
Fargo’s base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto and is evidenced by the recording thereof after its
announcement in such internal publications as Wells Fargo may designate. 
 “Base Rate Loan” means each portion of the
Revolving Loans or the Term Loan that bears interest at a rate determined by reference to the Base Rate. 
 “Base Rate
Margin” has the meaning set forth in the definition of Applicable Margin. 

  
 - 4 - 

 “Benefit Plan” means a “defined benefit plan” (as defined in
Section 3(35) of ERISA) for which any Borrower or any of its Subsidiaries or ERISA Affiliates has been an “employer” (as defined in Section 3(5) of ERISA) within the past six years. 

“Board of Directors” means, as to any Person, the board of directors (or comparable managers) of such Person, or any
committee thereof duly authorized to act on behalf of the board of directors (or comparable managers). 
 “Board of
Governors” means the Board of Governors of the Federal Reserve System of the United States (or any successor). 

“Borrower” and “Borrowers” have the respective meanings specified therefor in the preamble to the Agreement.

 “Borrower Materials” has the meaning specified therefor in Section 17.9(c) of the Agreement. 

“Borrowing” means a borrowing consisting of Revolving Loans made on the same day by the Lenders (or Agent on behalf thereof),
or by Swing Lender in the case of a Swing Loan, or by Agent in the case of a Protective Advance. 
 “Business Day” means
any day that is not a Saturday, Sunday, or other day on which banks are authorized or required to close in the state of New York, except that, if a determination of a Business Day shall relate to a LIBOR Rate Loan, the term “Business Day”
also shall exclude any day on which banks are closed for dealings in Dollar deposits in the London interbank market. 
 “Capital
Expenditures” means, with respect to any Person for any period, the amount of all expenditures by such Person and its Subsidiaries during such period that are capital expenditures as determined in accordance with GAAP, whether such
expenditures are paid in cash or financed, but excluding, without duplication (a) expenditures made during such period in connection with the replacement, substitution, or restoration of assets or properties pursuant to
Section 2.4(e)(ii) of the Agreement, (b) with respect to the purchase price of assets that are purchased substantially contemporaneously with the trade-in of existing assets during such period, the amount that the gross amount of
such purchase price is reduced by the credit granted by the seller of such assets for the assets being traded in at such time, (c) expenditures made during such period to consummate one or more Permitted Acquisitions, (d) expenditures made
during such period to the extent made with the identifiable proceeds of an equity investment in a Borrower or any of its Subsidiaries by Sponsor which equity investment is made substantially contemporaneously with the making of the expenditure,
(e) capitalized software development costs to the extent such costs are deducted from net earnings under the definition of EBITDA for such period, and (f) expenditures during such period that, pursuant to a written agreement, are
reimbursed by a third Person (excluding any Borrower or any of its Affiliates). 
 “Capitalized Lease Obligation” means
that portion of the obligations under a Capital Lease that is required to be capitalized in accordance with GAAP. 
 “Capital
Lease” means a lease that is required to be capitalized for financial reporting purposes in accordance with GAAP. 

  
 - 5 - 

 “Cash Equivalents” means (a) marketable direct obligations issued by, or
unconditionally guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year from the date of acquisition thereof, (b) marketable direct
obligations issued or fully guaranteed by any state of the United States or any political subdivision of any such state or any public instrumentality thereof maturing within 1 year from the date of acquisition thereof and, at the time of
acquisition, having one of the two highest ratings obtainable from either Standard & Poor’s Rating Group (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”), (c) commercial paper
maturing no more than 270 days from the date of creation thereof and, at the time of acquisition, having a rating of at least A-1 from S&P or at least P-1 from Moody’s, (d) certificates of deposit, time deposits, overnight bank
deposits or bankers’ acceptances maturing within 1 year from the date of acquisition thereof issued by any bank organized under the laws of the United States or any state thereof or the District of Columbia or any United States branch of a
foreign bank having at the date of acquisition thereof combined capital and surplus of not less than $1,000,000,000, (e) Deposit Accounts maintained with (i) any bank that satisfies the criteria described in clause (d) above, or
(ii) any other bank organized under the laws of the United States or any state thereof so long as the full amount maintained with any such other bank is insured by the Federal Deposit Insurance Corporation, (f) repurchase obligations of
any commercial bank satisfying the requirements of clause (d) of this definition or recognized securities dealer having combined capital and surplus of not less than $1,000,000,000, having a term of not more than seven days, with respect to
securities satisfying the criteria in clauses (a) or (d) above, (g) debt securities with maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any commercial bank satisfying the
criteria described in clause (d) above, and (h) Investments in money market funds substantially all of whose assets are invested in the types of assets described in clauses (a) through (g) above. 

“Cash Management Services” means any cash management or related services including treasury, depository, return items,
overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network, automatic clearing house transfer (including the Automated Clearing House processing of electronic funds
transfers through the direct Federal Reserve Fedline system) and other customary cash management arrangements. 
 “CFC”
means a controlled foreign corporation (as that term is defined in the IRC). 
 “Change of Control” means that: 

(a) (i) Sponsor fails to own and control, directly or indirectly, 30% or more (ii) Permitted Holders fail to own and control,
directly or indirectly, 50.1%, or more, or (iii) any other “person” or “group” (within the meaning of Section 13(d) and 14(d) of the Exchange Act) owns more than Sponsor, of the Equity Interests of Administrative
Borrower entitled (without regard to the occurrence of any contingency) to vote for the election of members of the Board of Directors of Administrative Borrower, 

(b) any “person” or “group” (within the meaning of Sections 13(d) and 14(d) of the Exchange Act), other than Permitted
Holders, becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 30%, or more, of the Equity Interests of Administrative Borrower entitled (without regard to the occurrence of any contingency) to
vote for the election of members of the Board of Directors of Administrative Borrower, 

  
 - 6 - 

 (c) a majority of the members of the Board of Directors of Administrative Borrower do not
constitute Continuing Directors, or 
 (d) Administrative Borrower fails to own and control, directly or indirectly, 100% of the Equity
Interests of each other Loan Party. 
 “Change in Law” means the occurrence after the date of the Agreement of:
(a) the adoption or effectiveness of any law, rule, regulation, judicial ruling, judgment or treaty, (b) any change in any law, rule, regulation, judicial ruling, judgment or treaty or in the administration, interpretation, implementation
or application by any Governmental Authority of any law, rule, regulation, guideline or treaty, or (c) the making or issuance by any Governmental Authority of any request, rule, guideline or directive, whether or not having the force of law;
provided that notwithstanding anything in the Agreement to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and
(ii) all requests, rules, guidelines or directives concerning capital adequacy promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or
foreign regulatory authorities shall, in each case, be deemed to be a “Change in Law,” regardless of the date enacted, adopted or issued. 

“Closing Date” means the date of the making of the initial Revolving Loan (or other extension of credit) under the Agreement.

 “Code” means the New York Uniform Commercial Code, as in effect from time to time. 

“Collateral” means all assets and interests in assets and proceeds thereof now owned or hereafter acquired by any Borrower or
its Subsidiaries in or upon which a Lien is granted by such Person in favor of Agent or the Lenders under any of the Loan Documents. 

“Commitment” means, with respect to each Lender, its Revolver Commitment or its Term Loan Commitment, as the context
requires, and, with respect to all Lenders, their Revolver Commitments or their Term Loan Commitments, as the context requires, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on
Schedule C-1 to the Agreement or in the Assignment and Acceptance pursuant to which such Lender became a Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with
the provisions of Section 13.1 of the Agreement. 
 “Compliance Certificate” means a certificate substantially
in the form of Exhibit C-1 to the Agreement delivered by the chief financial officer of Administrative Borrower to Agent. 

“Confidential Information” has the meaning specified therefor in Section 17.9(a) of the Agreement. 

“Continuing Director” means (a) any member of the Board of Directors who was a director (or comparable manager) of
Administrative Borrower on the Closing Date, and (b) any individual who becomes a member of the Board of Directors after the Closing Date if such individual was approved, appointed or nominated for election to the Board of Directors by either
the Permitted Holders or a majority of the Continuing Directors, but excluding any such 

  
 - 7 - 

 
individual originally proposed for election in opposition to the Board of Directors in office at the Closing Date in an actual or threatened election contest relating to the election of the
directors (or comparable managers) of Administrative Borrower and whose initial assumption of office resulted from such contest or the settlement thereof. 

“Control Agreement” means a control agreement, in form and substance reasonably satisfactory to Agent, executed and delivered
by a Borrower or one of its Subsidiaries, Agent, and the applicable securities intermediary (with respect to a Securities Account) or bank (with respect to a Deposit Account). 

“Copyright Security Agreement” has the meaning specified therefor in the Guaranty and Security Agreement. 

“Curative Equity” means the net amount of common equity contributions made by Sponsor to Borrowers in immediately available
funds and which is designated “Curative Equity” by Borrowers under Section 9.3 of the Agreement at the time it is contributed. For the avoidance of doubt, the forgiveness of antecedent debt (whether Indebtedness, trade payables, or
otherwise) shall not constitute Curative Equity. 
 “Current Assets” means, as at any date of determination, the total
assets of Borrowers and their Subsidiaries (other than cash and Cash Equivalents) which may properly be classified as current assets on a consolidated balance sheet of Borrowers and their Subsidiaries in accordance with GAAP. 

“Current Liabilities” means, as at any date of determination, the total liabilities of Borrowers and their Subsidiaries which
may properly be classified as current liabilities (other than the current portion of the Term Loan, the Swing Loans and the Revolving Loans) on a consolidated balance sheet of Borrowers and their Subsidiaries in accordance with GAAP. 

“Default” means an event, condition, or default that, with the giving of notice, the passage of time, or both, would be an
Event of Default. 
 “Defaulting Lender” means any Lender that (a) has failed to fund any amounts required to be
funded by it under the Agreement within 1 Business Day of the date that it is required to do so under the Agreement (including the failure to make available to Agent amounts required pursuant to a Settlement or to make a required payment in
connection with a Letter of Credit Disbursement), (b) notified Borrowers, Agent, or any Lender in writing that it does not intend to comply with all or any portion of its funding obligations under the Agreement, (c) has made a public
statement to the effect that it does not intend to comply with its funding obligations under the Agreement or under other agreements generally (as reasonably determined by Agent) under which it has committed to extend credit, (d) failed, within
1 Business Day after written request by Agent, to confirm that it will comply with the terms of the Agreement relating to its obligations to fund any amounts required to be funded by it under the Agreement, (e) otherwise failed to pay over to
Agent or any other Lender any other amount required to be paid by it under the Agreement within 1 Business Day of the date that it is required to do so under the Agreement, or (f) (i) becomes or is insolvent or has a parent company that
has become or is insolvent or (ii) becomes the subject of a bankruptcy or Insolvency Proceeding, or has had a receiver, conservator, trustee, or custodian or appointed for it, or has taken any action in furtherance of, or indicating its consent
to, approval of or acquiescence in any such proceeding or appointment or has a parent company that has become the subject of a bankruptcy or Insolvency Proceeding, or has had a receiver, conservator, trustee, or custodian appointed for it, or has
taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in any such proceeding or appointment. 

  
 - 8 - 

 “Defaulting Lender Rate” means (a) for the first 3 days from and after the
date the relevant payment is due, the Base Rate, and (b) thereafter, the interest rate then applicable to Revolving Loans that are Base Rate Loans (inclusive of the Base Rate Margin applicable thereto). 

“Deposit Account” means any deposit account (as that term is defined in the Code). 

“Designated Account” means the Deposit Account of Administrative Borrower identified on Schedule D-1 to the Agreement
(or such other Deposit Account of Administrative Borrower located at Designated Account Bank that has been designated as such, in writing, by Borrowers to Agent). 

“Designated Account Bank” has the meaning specified therefor in Schedule D-1 to the Agreement (or such other bank that
is located within the United States that has been designated as such, in writing, by Borrowers to Agent). 
 “Disqualified Equity
Interests” shall mean any Equity Interest that, by its terms (or by the terms of any security or other Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition
(a) matures or is mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders
thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) is
redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for
Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 180 days after the Maturity Date. 

“Dollars” or “$” means United States dollars. 

“Drawing Document” means any Letter of Credit or other document presented for purposes of drawing under any Letter of Credit.

 “Earn-Outs” shall mean unsecured liabilities of a Loan Party arising under an agreement to make any deferred payment as
a part of the Purchase Price for a Permitted Acquisition, including performance bonuses or consulting payments in any related services, employment or similar agreement, in an amount that is subject to or contingent upon the revenues, income, cash
flow or profits (or the like) of the target of such Permitted Acquisition. 
 “EBITDA” means, with respect to any fiscal
period: 
 (a) Borrowers’ consolidated net earnings (or loss), 

minus 
 (b) without
duplication, the sum of the following amounts of Borrowers for such period to the extent included in determining consolidated net earnings (or loss) for such period: 

  
 - 9 - 

 (i) any extraordinary, unusual, or non-recurring gains, 

(ii) interest income, 
 (iii)
any software development, labor, or commission/incentive costs to the extent capitalized during such period, 
 (iv) exchange, translation
or performance gains relating to any hedging transactions or foreign currency fluctuations, and 
 (v) income arising by reason of the
application of FAS 141R,  
 plus 

(c) without duplication, the sum of the following amounts of Borrowers for such period to the extent included in determining consolidated net
earnings (or loss) for such period: 
 (i) any extraordinary, unusual, or non-recurring non-cash losses, 

(ii) Interest Expense, 
 (iii)
tax expense based on income, profits or capital, including federal, foreign, state, franchise and similar taxes (and for the avoidance of doubt, specifically excluding any sales taxes or any other taxes held in trust for a Governmental Authority),

 (iv) depreciation and amortization for such period, 

(v) (A) with respect to the Merger, costs, reasonable fees to Persons (other than any Borrower, Sponsor or any of their Affiliates), charges,
or expenses incurred in connection therewith prior to, on or within 180 days of the Closing Date; provided that the amounts necessary to pay all of such costs, fees, charges, or expenses are actually funded on the Closing Date as reflected in
the sources and uses delivered to Agent that is acceptable to Agent; provided further that (i) the amounts necessary to pay all of such costs, fees, charges, or expenses are actually funded on the Closing Date or (ii) such amounts
do not exceed $1,750,000 in the aggregate (including the one-time transaction fee payable to the Sponsor in accordance with Section 6.10(d)) and are paid within 185 days of the Closing Date, (B) with respect to any Permitted Acquisition
after the Closing Date, costs, fees, charges, or expenses consisting of out-of-pocket expenses owed by Borrowers or any of their Subsidiaries to any Person for services performed by such Person in connection with such Permitted Acquisition incurred
within 180 days of the consummation of such Permitted Acquisition, (i) up to an aggregate amount (for all such items in this clause (B)) for such Permitted Acquisition not to exceed the greater of (1) $1,500,000 and (2) 5.0% of the
Purchase Price of such Permitted Acquisition and (ii) in any amount to the extent such costs, fees, charges, or expenses in this clause (B) are paid with proceeds of new equity investments in exchange for Qualified Equity Interests of
Administrative Borrower contemporaneously made by Permitted Holders, 
 (vi) (A) with respect to the Merger: (1) purchase
accounting adjustments, including, without limitation, a dollar for dollar adjustment for that portion of revenue that would have been recorded in the relevant period had the balance of deferred revenue (unearned income) recorded on the closing
balance sheet and before application of purchase accounting not been adjusted downward to fair value to be recorded on the opening balance sheet 

  
 - 10 - 

 
in accordance with GAAP purchase accounting rules; and (2) non-cash adjustments in accordance with GAAP purchase accounting rules under FASB Statement No. 141 and EITF Issue
No. 01-3, in the event that such an adjustment is required by Borrowers’ independent auditors, in each case, as determined in accordance with GAAP; and (B) with respect to any Permitted Acquisitions after the Closing Date:
(1) purchase accounting adjustments, including, without limitation, a dollar for dollar adjustment for that portion of revenue that would have been recorded in the relevant period had the balance of deferred revenue (unearned income) recorded
on the closing balance sheet and before application of purchase accounting not been adjusted downward to fair value to be recorded on the opening balance sheet in accordance with GAAP purchase accounting rules; and (2) non-cash adjustments in
accordance with GAAP purchase accounting rules under FASB Statement No. 141 and EITF Issue No. 01-3, in the event that such an adjustment is required by Borrowers’ independent auditors, in each case, as determined in accordance with
GAAP, 
 (vii) fees, costs, charges and expenses, in respect of Earn-Outs incurred in connection with any Permitted Acquisition to the
extent permitted to be incurred under the Agreement that are required by the application of FAS 141R to be and are expensed by Borrowers and their Subsidiaries, 

(viii) non-cash compensation expense (including deferred non-cash compensation expense), or other non-cash expenses or charges, arising from
the sale or issuance of Equity Interests, the granting of stock options, and the granting of stock appreciation rights and similar arrangements (including any repricing, amendment, modification, substitution, or change of any such Equity Interests,
stock option, stock appreciation rights, or similar arrangements) minus the amount of any such expenses or charges when paid in cash to the extent not deducted in the computation of net earnings (or loss), 

(ix) one time non-cash restructuring charges, 

(x) non-cash exchange, translation, or performance losses relating to any hedging transactions or foreign currency fluctuations, 

(xi) non-cash losses on sales of fixed assets or write-downs of fixed or intangible assets, 

(xii) the difference between the balance of deferred revenue associated with implementation of the Borrowers on a consolidated basis at the
end of such period and the balance of deferred revenue associated with implementation of the Borrowers on a consolidated basis at the beginning of such period (which difference may be negative), and 

(xiii) the difference between the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the end of
such period and the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the beginning of such period (which difference may be negative), 

in each case, determined on a consolidated basis in accordance with GAAP. 

For the purposes of calculating EBITDA for any period of 4 consecutive fiscal quarters (each, a “Reference Period”),
(a) if at any time during such Reference Period (and after the Closing Date), any Borrower or any of its Subsidiaries shall have made a Permitted Acquisition, EBITDA for such Reference Period shall be calculated after giving pro forma
effect thereto (including pro forma adjustments arising out of events which are directly attributable to 

  
 - 11 - 

 
such Permitted Acquisition, are factually supportable, and are expected to have a continuing impact, in each case to be mutually and reasonably agreed upon by Borrowers and Agent) or in such
other manner acceptable to Agent as if any such Permitted Acquisition or adjustment occurred on the first day of such Reference Period, and (b) EBITDA for the fiscal quarter ended June 30, 2013, shall be deemed to be $-258,317 and
(c) EBITDA for the fiscal quarter ended September 30, 2013, shall be deemed to be $-1,374,215. 
 “Employee Benefit
Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA, whether or not subject to ERISA, (a) that is or within the preceding six (6) years has been sponsored, maintained or contributed to by any
Loan Party or ERISA Affiliate or (b) to which any Loan Party or ERISA Affiliate has, or has had at any time within the preceding six (6) years, any liability, contingent or otherwise. 

“Environmental Action” means any written complaint, summons, citation, notice, directive, order, claim, litigation,
investigation, judicial or administrative proceeding, judgment, letter, or other written communication from any Governmental Authority, or any third party involving violations of Environmental Laws or releases of Hazardous Materials (a) from
any assets, properties, or businesses of any Borrower, any Subsidiary of any Borrower, or any of their predecessors in interest, (b) from adjoining properties or businesses, or (c) from or onto any facilities which received Hazardous
Materials generated by any Borrower, any Subsidiary of any Borrower, or any of their predecessors in interest. 
 “Environmental
Law” means any applicable federal, state, provincial, foreign or local statute, law, rule, regulation, ordinance, code, binding and enforceable guideline, binding and enforceable written policy, or rule of common law now or hereafter in
effect and in each case as amended, or any judicial or administrative interpretation thereof, including any judicial or administrative order, consent decree or judgment, in each case, to the extent binding on any Borrower or its Subsidiaries,
relating to the environment, the effect of the environment on employee health, or Hazardous Materials, in each case as amended from time to time. 

“Environmental Liabilities” means all liabilities, monetary obligations, losses, damages, costs and expenses (including all
reasonable fees, disbursements and expenses of counsel, experts, or consultants, and costs of investigation and feasibility studies), fines, penalties, sanctions, and interest incurred as a result of any claim or demand, or Remedial Action required,
by any Governmental Authority or any third party, and which relate to any Environmental Action. 
 “Environmental Lien”
means any Lien in favor of any Governmental Authority for Environmental Liabilities. 
 “Equipment” means equipment (as
that term is defined in the Code). 
 “Equity Interest” means, with respect to a Person, all of the shares, options,
warrants, interests, participations, or other equivalents (regardless of how designated) of or in such Person, whether voting or nonvoting, including capital stock (or other ownership or profit interests or units), preferred stock, or any other
“equity security” (as such term is defined in Rule 3al 1-1 of the General Rules and Regulations promulgated by the SEC under the Exchange Act). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended, and any successor statutes, and all
regulations and guidance promulgated thereunder. Any reference to a specific section of ERISA shall be deemed to be a reference to such section of ERISA and any successor statutes, and all regulations and guidance promulgated thereunder. 

  
 - 12 - 

 “ERISA Affiliate” means each entity, trade or business (whether or not
incorporated) that together with a Loan Party or a Subsidiary would be (or has been) treated as a “single employer” within the meaning of section 4001(b)(1) of ERISA or subsections (b), (c), (m) or (o) of section 414 of the IRC.
ERISA Affiliate shall include any Subsidiary of any Loan Party. 
 “Event of Default” has the meaning specified therefor in
Section 8 of the Agreement. 
 “Excess Cash Flow” means, with respect to any fiscal period and with respect to
Borrowers determined on a consolidated basis in accordance with GAAP the result of: 
 (a) TTM EBITDA, 

plus 
 (b) the sum of 

(i) foreign, United States, state, or local tax refunds, 

(ii) interest income, 

(iii) post-closing Purchase Price adjustments received in cash during such period in connection with a Permitted Acquisition,
and 
 (iv) the amount of any decrease in Net Working Capital for such period, 

minus 

(c) the sum of 

(i) the cash portion of Interest Expense and loan servicing fees paid during such fiscal period, 

(ii) the cash portion of taxes (on account of income, profits, or capital) paid during such period, 

(iii) all scheduled principal payments permitted under the Agreement during such period, 

(iv) the cash portion of Capital Expenditures (net of (y) any proceeds reinvested in accordance with the proviso to
Section 2.4(e)(ii) of the Agreement, and (z) any proceeds of related financings with respect to such expenditures) made during such period, 

(v) management fees paid in cash during such period (other than any management fees paid with the proceeds of an equity
investment in any Borrower and its Subsidiaries by Sponsor or other then existing shareholders of such Borrower), 
 (vi)
cash payments made in respect of Permitted Acquisitions (in each case, to the extent such payments are not made with the proceeds of Indebtedness (other than Revolving Loans or equity contributions made by Sponsor), 

  
 - 13 - 

 (vii) the amount of cash items included in the calculation of EBITDA pursuant to
clauses (c)(v)(A)(ii) and (c)(vii) of the definition of EBITDA for such period (to the extent that the applicable payments are not made with the proceeds of Indebtedness (other than proceeds of Revolving Loans) or equity contributions made by
Sponsor), 
 (viii) the distributed earnings of a Borrower or any one of its Subsidiaries to the extent that the declaration
or payment of dividends or similar distributions by such Borrower or such Subsidiary is permitted under the Agreement, 

(ix) the amount of any increase in Net Working Capital for such period, 

(x) any non-cash purchase accounting adjustments with respect to the Merger Agreement or a Permitted Acquisition added to
Borrowers’ net income (or loss) pursuant to clauses (c)(vi)(A)(2) and (c)(vi)(B)(2) of the definition of EBITDA, 
 (xi)
the difference between the balance of deferred revenue associated with implementation of the Borrowers on a consolidated basis at the end of such period and the balance of deferred revenue associated with implementation of the Borrowers on a
consolidated basis at the beginning of such period (which difference may be negative), and 
 (xii) the difference between
the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the end of such period and the balance of deferred revenue in connection with the Maryland State Advantage perpetual license at the beginning of
such period (which difference may be negative). 
 “Exchange Act” means the Securities Exchange Act of 1934, as in effect
from time to time. 
 “Excluded Taxes” means (i) any tax imposed on the net income or net profits of any Lender or any
Participant (including any branch profits taxes), in each case imposed by the jurisdiction (or by any political subdivision or taxing authority thereof) in which such Lender or such Participant is organized or the jurisdiction (or by any political
subdivision or taxing authority thereof) in which such Lender’s or such Participant’s principal office is located in each case as a result of a present or former connection between such Lender or such Participant and the jurisdiction or
taxing authority imposing the tax (other than any such connection arising solely from such Lender or such Participant having executed, delivered or performed its obligations or received payment under, or enforced its rights or remedies under the
Agreement or any other Loan Document); (ii) taxes resulting from a Lender’s or a Participant’s failure to comply with the requirements of Section 16.2 of the Agreement, and (iii) any United States federal withholding
taxes that would be imposed on amounts payable to a Foreign Lender based upon the applicable withholding rate in effect at the time such Foreign Lender becomes a party to the Agreement (or designates a new lending office), except that Taxes
shall include (A) any amount that such 

  
 - 14 - 

 
Foreign Lender (or its assignor, if any) was previously entitled to receive pursuant to Section 16.1 of the Agreement, if any, with respect to such withholding tax at the time such
Foreign Lender becomes a party to the Agreement (or designates a new lending office), and (B) additional United States federal withholding taxes that may be imposed after the time such Foreign Lender becomes a party to the Agreement (or
designates a new lending office), as a result of a change in law, rule, regulation, order or other decision with respect to any of the foregoing by any Governmental Authority. 

“Existing Credit Facility” means the credit facility issued under the Amended and Restated Loan and Security Agreement, dated
as of September 29, 2009 between Connecture and Comerica Bank. 
 “Extraordinary Receipts” means (a) so long as
no Event of Default has occurred and is continuing, proceeds of judgments, proceeds of settlements, or other consideration of any kind received in connection with any cause of action or claim, and (b) if an Event of Default has occurred and is
continuing, any payments received by any Borrower or any of its Subsidiaries not in the ordinary course of business (and not consisting of proceeds described in Section 2.4(e)(ii) of the Agreement) consisting of (i) proceeds of
judgments, proceeds of settlements, or other consideration of any kind received in connection with any cause of action or claim, (ii) indemnity payments (other than to the extent such indemnity payments are immediately payable to a Person that
is not an Affiliate of any Borrower or any of its Subsidiaries, and (iii) any purchase price adjustment received in connection with any purchase agreement. 

“Fee Letter” means that certain fee letter, dated as of even date with the Agreement, among Borrowers and Agent, in form and
substance reasonably satisfactory to Agent. 
 “Federal Funds Rate” means, for any period, a fluctuating interest rate per
annum equal to, for each day during such period, the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day
by the Federal Reserve Bank of New York, or, if such rate is not so published for any day which is a Business Day, the average of the quotations for such day on such transactions received by Agent frown three Federal funds brokers of recognized
standing selected by it. 
 “Fixed Charges” means, with respect to any fiscal period and with respect to Borrowers
determined on a consolidated basis in accordance with GAAP, the sum, without duplication, of (a) Interest Expense accrued (other than interest paid-in-kind, amortization of financing fees, and other non-cash Interest Expense) during such
period, (b) principal payments in respect of Indebtedness that are required to be paid during such period, (c) all federal, state, and local income taxes accrued during such period, (d) all Restricted Payments paid (whether in cash or
other property, other than Equity Interest) during such period and (e) any Earn-Outs that are paid in cash during such period. 

“Fixed Charge Coverage Ratio” means, with respect to any fiscal period and with respect to Borrowers determined on a
consolidated basis in accordance with GAAP, the ratio of (a) EBITDA for such period minus Capital Expenditures (excluding Capital Expenditures financed with (y) any proceeds reinvested in accordance with the proviso to
Section 2.4(e)(ii) of the Agreement, and (z) any proceeds of related financings with respect to such expenditures) made during such period, to (b) Fixed Charges for such period. 

  
 - 15 - 

 “Flow of Funds Agreement” means a flow of funds agreement, dated as of even date
herewith, in form and substance reasonably satisfactory to Agent, executed and delivered by each Loan Party and Agent. 
 “Foreign
Lender” means any Lender or Participant that is not a United States person within the meaning of IRC section 7701(a)(30). 

“Funded Indebtedness” means, as of any date of determination, all Indebtedness for borrowed money or letters of credit of
Borrowers, determined on a consolidated basis in accordance with GAAP, that by its terms matures more than one year after the date of determination, and any such Indebtedness maturing within one year from such date that is renewable or extendable at
the option of any Borrower or its Subsidiaries, as applicable, to a date more than one year from such date, including, in any event, but without duplication, with respect to Borrowers and their Subsidiaries, the Revolver Usage, the Term Loan, and
the amount of their Capitalized Lease Obligations. 
 “Funding Date” means the date on which a Borrowing occurs. 

“Funding Losses” has the meaning specified therefor in Section 2.12(b)(ii) of the Agreement. 

“GAAP” means generally accepted accounting principles as in effect from time to time in the United States, consistently
applied. 
 “Governing Documents” means, with respect to any Person, the certificate or articles of incorporation, by-laws,
or other organizational documents of such Person. 
 “Governmental Authority” means the government of any nation or any
political subdivision thereof, whether at the national, state, territorial, provincial, municipal or any other level, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative,
judicial, taxing, regulatory or administrative powers or functions of, or pertaining to, government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantor” means (a) each Subsidiary of each Borrower and (b) each other Person that becomes a guarantor after the
Closing Date pursuant to Section 5.11 of the Agreement. 
 “Guaranty and Security Agreement” means a guaranty
and security agreement, dated as of even date with the Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by each of the Borrowers and each of the Guarantors to Agent. 

“Harbert Capital Facility” means the term loan facility issued under the Harbert Loan and Security Agreement. 

“Harbert Loan and Security Agreement” means (i) that certain Loan and Security Agreement, dated as of February 16,
2011 among Connecture, Connecture RWS, LLC, a Delaware limited liability company, Connecture Holdings, LLC, a Delaware limited liability company, Insurix and Harbert Mezzanine Partners II SBIC, L.P. and (ii) each loan or credit agreement
evidencing any initial or subsequent replacement, substitution, renewal or refinancing of the obligations under the such Harbert Loan and Security Agreement, in each case as the same 

  
 - 16 - 

 
may be amended, restated, supplemented, modified, replaced, substituted, renewed or refinanced from time to time as permitted under the terms of the Subordination Agreement and this Agreement.

 “Hazardous Materials” means (a) substances that are defined or listed in, or otherwise classified pursuant to, any
applicable laws or regulations as “hazardous substances,” “hazardous materials,” “hazardous wastes,” “toxic substances,” or any other formulation intended to define, list, or classify substances by reason of
deleterious properties such as ignitability, corrosivity, reactivity, carcinogenicity, reproductive toxicity, or “EP toxicity”, (b) oil, petroleum, or petroleum derived substances, natural gas, natural gas liquids, synthetic gas,
drilling fluids, produced waters, and other wastes associated with the exploration, development, or production of crude oil, natural gas, or geothermal resources, (c) any flammable substances or explosives or any radioactive materials, and
(d) asbestos in any form or electrical equipment that contains any oil or dielectric fluid containing levels of polychlorinated biphenyls in excess of 50 parts per million. 

“Hedge Agreement” means a “swap agreement” as that term is defined in Section 101 (53B)(A) of the
Bankruptcy Code. 
 “Hedge Obligations” means any and all obligations or liabilities, whether absolute or contingent, due
or to become due, now existing or hereafter arising, of each Borrower and its Subsidiaries arising under, owing pursuant to, or existing in respect of Hedge Agreements entered into with one or more of the Hedge Providers. 

“Hedge Provider” means Wells Fargo or any of its Affiliates. 

“Indebtedness” as to any Person means (a) all obligations of such Person for borrowed money, (b) all obligations of
such Person evidenced by bonds, debentures, notes, or other similar instruments and all reimbursement or other obligations in respect of letters of credit, bankers acceptances, or other financial products, (c) all obligations of such Person as
a lessee under Capital Leases, (d) all obligations or liabilities of others secured by a Lien on any asset of such Person, irrespective of whether such obligation or liability is assumed, (e) all obligations of such Person to pay the
deferred purchase price of assets (other than trade payables incurred in the ordinary course of business and repayable in accordance with customary trade practices and, for the avoidance of doubt, other than royalty payments payable in the ordinary
course of business in respect of non-exclusive licenses), (f) all monetary obligations of such Person owing under Hedge Agreements (which amount shall be calculated based on the amount that would be payable by such Person if the Hedge Agreement
were terminated on the date of determination), (g) any Disqualified Equity Interests of such Person, and (h) any obligation of such Person guaranteeing or intended to guarantee (whether directly or indirectly guaranteed, endorsed, co-made, discounted, or sold with recourse) any obligation of any other Person that constitutes Indebtedness under any of clauses (a) through (g) above. For purposes of this definition, (i) the amount
of any Indebtedness represented by a guaranty or other similar instrument shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant
to the terms of the instrument embodying such Indebtedness, and (ii) the amount of any Indebtedness which is limited or is non-recourse to a Person or for which recourse is limited to an identified asset shall be valued at the lesser of
(A) if applicable, the limited amount of such obligations, and (B) if applicable, the fair market value of such assets securing such obligation. 

“Indemnified Liabilities” has the meaning specified therefor in Section 10.3 of the Agreement. 

  
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 “Indemnified Person” has the meaning specified therefor in
Section 10.3 of the Agreement. 
 “Indemnified Taxes” means, any Taxes other than Excluded Taxes. 

“Insolvency Proceeding” means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or
under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other
similar relief. 
 “Interest Expense” means, for any period, the aggregate of the interest expense of Borrowers for such
period, determined on a consolidated basis in accordance with GAAP. 
 “Interest Period” means, with respect to each LIBOR
Rate Loan, a period commencing on the date of the making of such LIBOR Rate Loan (or the continuation of a LIBOR Rate Loan or the conversion of a Base Rate Loan to a LIBOR Rate Loan) and ending 1, 2, 3, or 6 months thereafter or, if agreed to by all
Lenders, 9 or 12 months thereafter; provided, that (a) interest shall accrue at the applicable rate based upon the LIBOR Rate from and including the first day of each Interest Period to, but excluding, the day on which any Interest
Period expires, (b) any Interest Period that would end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall
end on the next preceding Business Day, (c) with respect to an Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such
Interest Period), the Interest Period shall end on the last Business Day of the calendar month that is 1, 2, 3, 6, 9, or 12 months after the date on which the Interest Period began, as applicable, and (d) Borrowers may not elect an Interest
Period which will end after the Maturity Date. 
 “Investment” means, with respect to any Person, any investment by such
Person in any other Person (including Affiliates) in the form of loans, guarantees, advances, capital contributions (excluding (a) commission, travel, and similar advances to officers and employees of such Person made in the ordinary course of
business, and (b) bona fide accounts receivable arising in the ordinary course of business), or acquisitions of Indebtedness, Equity Interests, or all or substantially all of the assets of such other Person (or of any division or
business line of such other Person), and any other items that are or would be classified as investments on a balance sheet prepared in accordance with GAAP. The amount of any Investment shall be the original cost of such Investment plus the cost of
all additions thereto, without any adjustment for increases or decreases in value, or write-ups, write-downs, or write-offs with respect to such Investment. 

“IRC” means the Internal Revenue Code of 1986, as amended, and any successor statutes, and all regulations and guidance
promulgated thereunder. Any reference to a specific section of the IRC shall be deemed to be a reference to such section of the IRC and any successor statutes, and all regulations and guidance promulgated thereunder. 

“ISP” means, with respect to any Letter of Credit, the International Standby Practices 1998 (International Chamber of
Commerce Publication No. 590) and any subsequent revision thereof adopted by the International Chamber of Commerce on the date such Letter of Credit is issued. 

  
 - 18 - 

 “Issuer Document” means, with respect to any Letter of Credit, a letter of
credit application, a letter of credit agreement, or any other document, agreement or instrument entered into (or to be entered into) by a Borrower in favor of Issuing Bank and relating to such Letter of Credit. 

“Issuing Bank” means Wells Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent, agrees,
in such Lender’s sole discretion, to become an Issuing Bank for the purpose of issuing Letters of Credit pursuant to Section 2.11 of the Agreement, and Issuing Bank shall be a Lender. 

“Lender” has the meaning set forth in the preamble to the Agreement, shall include Issuing Bank and the Swing Lender, and
shall also include any other Person made a party to the Agreement pursuant to the provisions of Section 13.1 of the Agreement and “Lenders” means each of the Lenders or any one or more of them. 

“Lender Group” means each of the Lenders (including Issuing Bank and the Swing Lender) and Agent, or any one or more of them.

 “Lender Group Expenses” means all (a) costs or expenses (including taxes and insurance premiums) required to be
paid by any Borrower or its Subsidiaries under any of the Loan Documents that are paid, advanced, or incurred by the Lender Group, (b) reasonable, documented out-of-pocket fees or charges paid or incurred by Agent in connection with the Lender
Group’s transactions with each Borrower and its Subsidiaries under any of the Loan Documents, including, photocopying, notarization, couriers and messengers, telecommunication, public record searches, filing fees, recording fees, publication,
real estate surveys, real estate title policies and endorsements, and environmental audits, (c) Agent’s customary fees and charges imposed or incurred in connection with any background checks or OFAC/PEP searches related to any Borrower or
its Subsidiaries, (d) Agent’s customary fees and charges (as adjusted from time to time) with respect to the disbursement of funds (or the receipt of funds) to or for the account of any Borrower (whether by wire transfer or otherwise),
together with any out-of-pocket costs and expenses incurred in connection therewith, (e) customary charges imposed or incurred by Agent resulting from the dishonor of checks payable by or to any Loan Party, (f) reasonable documented
out-of-pocket costs and expenses paid or incurred by the Lender Group to correct any default or enforce any provision of the Loan Documents, or during the continuance of an Event of Default, in gaining possession of, maintaining, handling,
preserving, storing, shipping, selling, preparing for sale, or advertising to sell the Collateral, or any portion thereof, irrespective of whether a sale is consummated, (g) financial examination, appraisal, and valuation fees and expenses of
Agent related to any financial examinations, appraisals, or valuation to the extent of the fees and charges (and up to the amount of any limitation) provided in Section 2.10 of the Agreement, (h) Agent’s reasonable costs and
expenses (including reasonable documented attorneys fees and expenses) relative to third party claims or any other lawsuit or adverse proceeding paid or incurred, whether in enforcing or defending the Loan Documents or otherwise in connection with
the transactions contemplated by the Loan Documents, Agent’s Liens in and to the Collateral, or the Lender Group’s relationship with any Borrower or any of its Subsidiaries, (i) Agent’s reasonable documented costs and expenses
(including reasonable documented attorneys fees and due diligence expenses) incurred in advising, structuring, drafting, reviewing, administering (including travel, meals, and lodging), syndicating (including reasonable costs and expenses relative
to the rating of the Term Loan, CUSIP, DXSyndicateTM, SyndTrak or other communication costs incurred in connection with a syndication of the loan facilities), or amending, waiving, or modifying
the Loan Documents, and (j) Agent’s and each Lender’s reasonable documented costs and expenses (including reasonable documented attorneys, 

  
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accountants, consultants, and other advisors fees and expenses) incurred in terminating, enforcing (including attorneys, accountants, consultants, and other advisors fees and expenses incurred in
connection with a “workout,” a “restructuring,” or an Insolvency Proceeding concerning any Borrower or any of its Subsidiaries or in exercising rights or remedies under the Loan Documents), or defending the Loan Documents,
irrespective of whether a lawsuit or other adverse proceeding is brought, or in taking any enforcement action or any Remedial Action with respect to the Collateral. 

“Lender Group Representatives” has the meaning specified therefor in Section 17.9 of the Agreement. 

“Lender-Related Person” means, with respect to any Lender, such Lender, together with such Lender’s Affiliates,
officers, directors, employees, attorneys, and agents. 
 “Letter of Credit” means a letter of credit (as that term is
defined in the Code) issued by Issuing Bank. 
 “Letter of Credit Collateralization” means either (a) providing cash
collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11 (k) of the
Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage,
(b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of
Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter
of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be
drawn under any such standby letter of credit). 
 “Letter of Credit Disbursement” means a payment made by Issuing Bank
pursuant to a Letter of Credit. 
 “Letter of Credit Exposure” means, as of any date of determination with respect to any
Lender, such Lender’s Pro Rata Share of the Letter of Credit Usage on such date. 
 “Letter of Credit Fee” has the
meaning specified therefor in Section 2.6(b) of the Agreement. 
 “Letter of Credit Indemnified Costs” has the
meaning specified therefor in Section 2.11 (f) of the Agreement. 
 “Letter of Credit Related Person” has
the meaning specified therefor in Section 2.11 (f) of the Agreement. 
 “Letter of Credit Usage” means, as
of any date of determination, the aggregate undrawn amount of all outstanding Letters of Credit. 

  
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 “LIBOR Deadline” has the meaning specified therefor in
Section 2.12(b)(i) of the Agreement. 
 “LIBOR Notice” means a written notice in the form of Exhibit L-1
to the Agreement. 
 “LIBOR Option” has the meaning specified therefor in Section 2.12(a) of the Agreement.

 “LIBOR Rate” means the greater of (a) 1.25 percent per annum, and (b) the rate per annum rate appearing on
Macro*World’s (https://capitalmarkets.mworld.com; the “Service”) Page BBA LIBOR - USD (or on any successor or substitute page of such Service, or any successor to or substitute for such Service) 2 Business Days prior to the
commencement of the requested Interest Period, for a term, and in an amount, comparable to the Interest Period and the amount of the LIBOR Rate Loan requested (whether as an initial LIBOR Rate Loan or as a continuation of a LIBOR Rate Loan or as a
conversion of a Base Rate Loan to a LIBOR Rate Loan) by Borrowers in accordance with the Agreement (and, if any such rate is below zero, the LIBOR Rate shall be deemed to be zero), which determination shall be made by Agent and shall be conclusive
in the absence of manifest error. 
 “LIBOR Rate Loan” means each portion of a Revolving Loan or the Term Loan that bears
interest at a rate determined by reference to the LIBOR Rate. 
 “LIBOR Rate Margin” has the meaning set forth in the
definition of Applicable Margin. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, charge,
deposit arrangement, encumbrance, easement, lien (statutory or other), security interest, or other security arrangement and any other preference, priority, or preferential arrangement of any kind or nature whatsoever, including any conditional sale
contract or other title retention agreement, the interest of a lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any of the foregoing. 

“Loan” shall mean any Revolving Loan, Swing Loan, Protective Advance, or Term Loan made (or to be made) hereunder. 

“Loan Account” has the meaning specified therefor in Section 2.9 of the Agreement. 

“Loan Documents” means the Agreement, the Control Agreements, the Copyright Security Agreement, the Fee Letter, the Guaranty
and Security Agreement, the Intercompany Subordination Agreement, any Issuer Documents, the Letters of Credit, the Mortgages, the Patent Security Agreement, the Trademark Security Agreement, any note or notes executed by Borrowers in connection with
the Agreement and payable to any member of the Lender Group, and any other instrument or agreement entered into, now or in the future, by any Borrower or any of its Subsidiaries and any member of the Lender Group in connection with the Agreement.

 “Loan Party” means any Borrower or any Guarantor. 

  
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 “Margin Stock” as defined in Regulation U of the Board of Governors as in effect
from time to time. 
 “Material Adverse Effect” means (a) a material adverse effect in the business, operations,
results of operations, assets, liabilities or financial condition of Borrowers and their Subsidiaries, taken as a whole, (b) a material impairment of Borrowers’ and their Subsidiaries ability to perform their obligations under the Loan
Documents to which they are parties or of the Lender Group’s ability to enforce the Obligations or realize upon all or a material portion of the Collateral (other than as a result of an action taken or not taken that is solely in the control of
Agent), or (c) a material impairment of the enforceability or priority of Agent’s Liens with respect to all or a material portion of the Collateral. 

“Material Contract” means, with respect to any Person, (a) each contract or agreement to which such Person or any of its
Subsidiaries is a party involving aggregate consideration payable to or by such Person or such Subsidiary of $1,500,000 or more (other than purchase orders in the ordinary course of the business of such Person or such Subsidiary and other than
contracts that by their terms may be terminated by such Person or Subsidiary in the ordinary course of its business upon less than 60 days notice without penalty or premium) and (b) all other contracts or agreements, the loss of which could
reasonably be expected to result in a Material Adverse Effect. 
 “Maturity Date” means the earlier of
(a) January 15, 2018 and (b) the 91st day prior to the maturity date of the obligations under the Harbert Capital Facility (or any Permitted Refinancing thereof); provided that if all of the Indebtedness owing under the Harbert
Credit Facility is converted into equity of Administrative Borrower, then “Maturity Date” means January 15, 2018. 

“Maximum Revolver Amount” means $5,000,000, decreased by the amount of reductions in the Revolver Commitments made in
accordance with Section 2.4(c) of the Agreement. 
 “Merger” means the Acquisition contemplated in the
Acquisition Documents. 
 “Moody’s” has the meaning specified therefor in the definition of Cash Equivalents. 

“Mortgages” means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed
and delivered by a Borrower or one of its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral. 

“Multiemployer Plan” means any multiemployer plan within the meaning of Section 3(37) or 4001(a)(3) of ERISA with
respect to which any Loan Party or ERISA Affiliate has an obligation to contribute or has any liability, contingent or otherwise or could be assessed withdrawal liability assuming a complete withdrawal from any such multiemployer plan. 

“Net Cash Proceeds” means: 

(a) with respect to any sale or disposition by any Borrower or any of its Subsidiaries of assets, the amount of cash proceeds received
(directly or indirectly) from time to time (whether as initial consideration or through the payment of deferred consideration) by or on 

  
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behalf of such Borrower or such Subsidiary, in connection therewith after deducting therefrom only (i) the amount of any Indebtedness secured by any Permitted Lien on any asset (other than
(A) Indebtedness owing to Agent or any Lender under the Agreement or the other Loan Documents and (B) Indebtedness assumed by the purchaser of such asset) which is required to be, and is, repaid in connection with such sale or disposition,
(ii) reasonable fees, commissions, and expenses related thereto and required to be paid by such Borrower or such Subsidiary in connection with such sale or disposition, (iii) taxes paid or payable to any taxing authorities by such Borrower
or such Subsidiary in connection with such sale or disposition, in each case to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate
of any Borrower or any of its Subsidiaries, and are properly attributable to such transaction; and (iv) all amounts that are set aside as a reserve (A) for adjustments in respect of the purchase price of such assets, (B) for any
liabilities associated with such sale or casualty, to the extent such reserve is required by GAAP, and (C) for the payment of unassumed liabilities relating to the assets sold or otherwise disposed of at the time of, or within 30 days after,
the date of such sale or other disposition, to the extent that in each case the funds described above in this clause (iv) are (x) deposited into escrow with a third party escrow agent or set aside in a separate Deposit Account that is
subject to a Control Agreement in favor of Agent and (y) paid to Agent as a prepayment of the applicable Obligations in accordance with Section 2.4(e) of the Agreement at such time when such amounts are no longer required to be set
aside as such a reserve; and 
 (b) with respect to the issuance or incurrence of any Indebtedness by any Borrower or any of its
Subsidiaries, or the issuance by any Borrower or any of its Subsidiaries of any Equity Interests, the aggregate amount of cash received (directly or indirectly) from time to time (whether as initial consideration or through the payment or
disposition of deferred consideration) by or on behalf of such Borrower or such Subsidiary in connection with such issuance or incurrence, after deducting therefrom only (i) reasonable fees, commissions, and expenses related thereto and
required to be paid by such Borrower or such Subsidiary in connection with such issuance or incurrence, (ii) taxes paid or payable to any taxing authorities by such Borrower or such Subsidiary in connection with such issuance or incurrence, in
each case to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of any Borrower or any of its Subsidiaries, and are properly
attributable to such transaction. 
 “Net Working Capital” means, as of any date of determination, Current Assets as of
such date minus Current Liabilities as of such date. 
 “Non-Consenting Lender” has the meaning specified therefor in
Section 14.2(a) of the Agreement. 
 “Non-Defaulting Lender” means each Lender other than a Defaulting Lender.

 “Notification Event” means (a) the occurrence of a “reportable event” described in Section 4043 of
ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial
employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination, under
Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC or any Pension Plan or
Multiemployer Plan 

  
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administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any
Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien, (g) the
partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that results in
the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of proceedings
to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in
“endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of
ERISA, (1) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the
meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including
Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of
the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event
that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit Plans or any event that results in or could reasonably be
expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days. 

“Obligations” means (a) all loans (including the Term Loan and the Revolving Loans (inclusive of Protective Advances and
Swing Loans)), debts, principal, interest (including any interest that accrues after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable in whole or in part as a claim in any such Insolvency Proceeding),
reimbursement or indemnification obligations with respect to Letters of Credit (irrespective of whether contingent), premiums, liabilities (including all amounts charged to the Loan Account pursuant to the Agreement), obligations (including
indemnification obligations), fees (including the fees provided for in the Fee Letter), Lender Group Expenses (including any fees or expenses that accrue after the commencement of an Insolvency Proceeding, regardless of whether allowed or allowable
in whole or in part as a claim in any such Insolvency Proceeding), guaranties, and all covenants and duties of any other kind and description owing by any Loan Party arising out of, under, pursuant to, in connection with, or evidenced by the
Agreement or any of the other Loan Documents and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, and including all interest not paid when
due and all other expenses or other amounts that Borrowers are required to pay or reimburse by the Loan Documents or by law or otherwise in connection with the Loan Documents, and (b) all Bank Product Obligations. Without limiting the
generality of the foregoing, the Obligations of Borrowers under the Loan Documents include the obligation to pay (i) the principal of the Revolving Loans and the Term Loan, (ii) interest accrued on the Revolving Loans and the Term Loan,
(iii) the amount necessary to reimburse Issuing Bank for amounts paid or payable pursuant to Letters of Credit, (iv) Letter of Credit commissions, fees (including 

  
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 fronting fees) and charges, (v) Lender Group Expenses, (vi) fees payable under the Agreement or any of
the other Loan Documents, and (vii) indemnities and other amounts payable by any Loan Party under any Loan Document. Any reference in the Agreement or in the Loan Documents to the Obligations shall include all or any portion thereof and any
extensions, modifications, renewals, or alterations thereof, both prior and subsequent to any Insolvency Proceeding. 

“OFAC” means The Office of Foreign Assets Control of the U.S. Department of the Treasury. 

“Originating Lender” has the meaning specified therefor in Section 13.1(e) of the Agreement. 

“Participant” has the meaning specified therefor in Section 13.1(e) of the Agreement. 

“Participant Register” has the meaning set forth in Section 13.1(i) of the Agreement. 

“Patent Security Agreement” has the meaning specified therefor in the Guaranty and Security Agreement. 

“Patriot Act” has the meaning specified therefor in Section 4.13 of the Agreement. 

“PBGC” means the Pension Benefit Guaranty Corporation or any successor agency. 

“Pension Plan” means any Employee Benefit Plan, other than a Multiemployer Plan, which is subject to the provisions of Title
IV or Section 302 of ERISA or Sections 412 or 430 of the Code sponsored, maintained, or contributed to by any Loan Party or ERISA Affiliate or to which any Loan Party or ERISA Affiliate has any liability, contingent or otherwise. 

“Perfection Certificate” means a certificate in the form of Exhibit P-1 to the Agreement. 

“Permitted Acquisition” means any Acquisition so long as: 

(a) no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the proposed Acquisition and
the proposed Acquisition is consensual, 
 (b) no Indebtedness will be incurred, assumed, or would exist with respect to any Borrower or its
Subsidiaries as a result of such Acquisition, other than Indebtedness permitted under clauses (f) or (g) of the definition of Permitted Indebtedness and no Liens will be incurred, assumed, or would exist with respect to the assets of any
Borrower or its Subsidiaries as a result or such Acquisition other than Permitted Liens, 
 (c) Borrowers have provided Agent with written
confirmation, supported by reasonably detailed calculations, that on a pro forma basis (including pro forma adjustments arising out of events which are directly attributable to such proposed Acquisition, are factually supportable, and
are expected to have a continuing impact, in each case, determined as if the 

  
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 combination had been accomplished at the beginning of the relevant period; such eliminations and inclusions to be
mutually and reasonably agreed upon by Borrowers and Agent) created by adding the historical combined financial statements of Borrowers (including the combined financial statements of any other Person or assets that were the subject of a prior
Permitted Acquisition during the relevant period) to the historical consolidated financial statements of the Person to be acquired (or the historical financial statements related to the assets to be acquired) pursuant to the proposed Acquisition,
Borrowers and their Subsidiaries (i) would have been in compliance with the financial covenants in Section 7 of the Agreement for the 4 fiscal quarter period ended immediately prior to the proposed date of consummation of such
proposed Acquisition, and (ii) are projected to be in compliance with the financial covenants in Section 7 of the Agreement for the 4 fiscal quarter period ended one year after the proposed date of consummation of such proposed
Acquisition, 
 (d) Borrowers have provided Agent with its due diligence package relative to the proposed Acquisition, including forecasted
balance sheets, profit and loss statements, and cash flow statements of the Person or assets to be acquired, all prepared on a basis consistent with such Person’s (or assets’) historical financial statements, together with appropriate
supporting details and a statement of underlying assumptions for the 1 year period following the date of the proposed Acquisition, on a quarter by quarter basis), in form and substance (including as to scope and underlying assumptions) reasonably
satisfactory to Agent, 
 (e) Borrowers shall have Availability plus Qualified Cash in an amount equal to or greater than $5,000,000
immediately after giving effect to the consummation of the proposed Acquisition, 
 (f) the assets being acquired or the Person whose Equity
Interests are being acquired did not have negative EBITDA during the 12 consecutive month period most recently concluded prior to the date of the proposed Acquisition, 

(g) Borrowers have provided Agent with written notice of the proposed Acquisition at least 15 Business Days prior to the anticipated closing
date of the proposed Acquisition and, not later than 5 Business Days prior to the anticipated closing date of the proposed Acquisition, copies of the acquisition agreement and other material documents relative to the proposed Acquisition, which
agreement and documents must be reasonably acceptable to Agent, 
 (h) the assets being acquired (other than a de minimis amount of
assets in relation to Borrowers’ and their Subsidiaries’ total assets), or the Person whose Equity Interests are being acquired, are useful in or engaged in, as applicable, the business of Borrowers and their Subsidiaries or a business
reasonably related thereto, 
 (i) the assets being acquired (other than a de minimis amount of assets in relation to the assets
being acquired) are located within the United States or the Person whose Equity Interests are being acquired is organized in a jurisdiction located within the United States, 

(j) the subject assets or Equity Interests, as applicable, are being acquired directly by a Borrower or one of its Subsidiaries that is a Loan
Party, and, in connection therewith, the applicable Loan Party shall have complied with Section 5.11 or 5.12 of the Agreement, as applicable, of the Agreement and, in the case of an acquisition of Equity Interests, the applicable
Loan Party shall have demonstrated to Agent that the new Loan Parties have received consideration sufficient to make the joinder documents binding and enforceable against such new Loan Parties, and 

  
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 (k) the purchase consideration payable in respect of all Permitted Acquisitions (including the
proposed Acquisition and including deferred payment obligations) shall not exceed $15,000,000 in the aggregate; provided, that the purchase consideration payable in respect of any single Acquisition or series of related Acquisitions shall not
exceed $10,000,000 in the aggregate. 
 “Permitted Discretion” means a determination made in the exercise of reasonable
(from the perspective of a secured commercial lender) business judgment. 
 “Permitted Dispositions” means: 

(a) sales, abandonment, or other dispositions of property (other than any intellectual property) that is substantially worn, damaged, or
obsolete or no longer used or useful in the ordinary course of business and leases or subleases of Real Property not useful in the conduct of the business of Borrowers and their Subsidiaries, 

(b) sales of inventory to buyers in the ordinary course of business, 

(c) the use or transfer of money or Cash Equivalents in a manner that is not prohibited by the terms of the Agreement or the other Loan
Documents, 
 (d) the licensing, on a non-exclusive basis, of patents, trademarks, copyrights, mad other intellectual property rights in the
ordinary course of business, 
 (e) the granting of Permitted Liens, 

(f) the sale or discount, in each case without recourse, of accounts receivable arising in the ordinary course of business, but only in
connection with the compromise or collection thereof, 
 (g) any involuntary loss, damage or destruction of property, 

(h) any involuntary condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, or confiscation or requisition
of use of property, 
 (i) the leasing or subleasing of assets of any Borrower or its Subsidiaries in the ordinary course of business, 

(j) the sale or issuance of Equity Interests (other than Disqualified Equity Interests) of Administrative Borrower, 

(k) (i) the lapse of registered patents, trademarks, copyrights and other intellectual property of any Borrower or any of its
Subsidiaries to the extent not economically desirable in the conduct of its business or (ii) the abandonment of patents, trademarks, copyrights, or other intellectual property rights in the ordinary course of business so long as (in each case
under clauses (i) and (ii)), (A) with respect to copyrights, such copyrights are not material revenue generating copyrights, and (B) such lapse is not materially adverse to the interests of the Lender Group, 

  
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 (l) the making of Restricted Payments that are expressly permitted to be made pursuant to the
Agreement, 
 (m) the making of Permitted Investments, 

(n) so long as no Event of Default has occurred and is continuing or would immediately result therefrom, transfers of assets (i) from any
Borrower or any of its Subsidiaries to a Loan Party, and (ii) from any Subsidiary of any Borrower that is not a Loan Party to any other Subsidiary of any Borrower, 

(o) dispositions of assets acquired by Borrowers and their Subsidiaries pursuant to a Permitted Acquisition consummated within 12 months of
the date of the proposed disposition so long as (i) the consideration received for the assets to be so disposed is at least equal to the fair market value of such assets, (ii) the assets to be so disposed are not necessary or economically
desirable in connection with the business of Borrowers and their Subsidiaries, and (iii) the assets to be so disposed are readily identifiable as assets acquired pursuant to the subject Permitted Acquisition, 

(p) trade-in of assets in the ordinary course of business for credit towards the purchase price of replacement assets purchased concurrently
therewith so long as the gross amount of the purchase price of such replacement assets is greater than the gross trade –in value of the assets being traded in at such time, and 

(q) sales or dispositions of assets (other than Equity Interests of Subsidiaries of any Borrower) not otherwise permitted in clauses
(a) through (p) above so long as made at fair market value and the aggregate fair market value of all assets disposed of in fiscal year (including the proposed disposition) would not exceed $250,000. 

“Permitted Holder” means (i) Sponsor and (ii) Crysalis Ventures. 

“Permitted Indebtedness” means: 

(a) Indebtedness evidenced by the Agreement or the other Loan Documents, 

(b) Indebtedness set forth on Schedule 4.14 to the Agreement and any Refinancing Indebtedness in respect of such Indebtedness, 

(c) Permitted Purchase Money Indebtedness and any Refinancing Indebtedness in respect of such Indebtedness, 

(d) endorsement of instruments or other payment items for deposit, 

(e) Indebtedness consisting of (i) unsecured guarantees incurred in the ordinary course of business with respect to surety and appeal
bonds, performance bonds, bid bonds, appeal bonds, completion guarantee and similar obligations; (ii) unsecured guarantees arising with respect to customary indemnification obligations to purchasers in connection with Permitted Dispositions;
and (iii) unsecured guarantees with respect to Indebtedness of any Borrower or one of its Subsidiaries, to the extent that the Person that is obligated under such guaranty could have incurred such underlying Indebtedness, 

  
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 (f) unsecured Indebtedness of any Borrower that is incurred on the date of the consummation of a
Permitted Acquisition solely for the purpose of consummating such Permitted Acquisition so long as (i) no Event of Default has occurred and is continuing or would result therefrom, (ii) such unsecured Indebtedness is not incurred for
working capital purposes, (iii) such unsecured Indebtedness does not mature prior to the date that is six months after the Maturity Date, (iv) such unsecured Indebtedness does not amortize until six months after the Maturity Date,
(v) such unsecured Indebtedness does not provide for the payment of interest thereon in cash or Cash Equivalents prior to the date that is six months after the Maturity Date, and (vi) such Indebtedness is subordinated in right of payment
to the Obligations on terms and conditions reasonably satisfactory to Agent, 
 (g) Acquired Indebtedness in an amount not to exceed
$500,000 outstanding at any one time, 
 (h) Indebtedness incurred in the ordinary course of business under performance, surety, statutory,
or appeal bonds, 
 (i) Indebtedness owed to any Person providing property, casualty, liability, or other insurance to any Borrower or any
of its Subsidiaries, so long as the amount of such Indebtedness is not in excess of the amount of the unpaid cost of, and shall be incurred only to defer the cost of, such insurance for the year in which such Indebtedness is incurred and such
Indebtedness is outstanding only during such year, 
 (j) the incurrence by any Borrower or its Subsidiaries of Indebtedness under Hedge
Agreements that are incurred for the bona fide purpose of hedging the interest rate, commodity, or foreign currency risks associated with Borrowers’ and its Subsidiaries’ operations and not for speculative purposes, 

(k) Indebtedness incurred in the ordinary course of business in respect of credit cards, credit card processing services, debit cards, stored
value cards, commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”), or Cash Management Services,, 

(1) unsecured Indebtedness of any Borrower owing to former employees, officers, or directors (or any spouses, ex-spouses, or estates of any of
the foregoing) incurred in connection with the repurchase by such Borrower of the Equity Interests of Administrative Borrower that has been issued to such Persons, so long as (i) no Default or Event of Default has occurred and is continuing or
would result from the incurrence of such Indebtedness, (ii) the aggregate amount of all such Indebtedness outstanding at any one time does not exceed $250,000, and (iii) such Indebtedness is subordinated to the Obligations on terms and
conditions reasonably acceptable to Agent, 
 (m) unsecured Indebtedness owing to sellers of assets or Equity Interests to a Loan Party that
is incurred by the applicable Loan Party in connection with the consummation of one or more Permitted Acquisitions so long as (i) the aggregate principal amount for all such unsecured Indebtedness does not exceed $500,000 at any one time
outstanding, (ii) is subordinated to the Obligations on terms and conditions reasonably acceptable to Agent, and (iii) is otherwise on terms and conditions (including all economic terms and the absence of covenants) reasonably acceptable
to Agent, 
  

  
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 (n) contingent liabilities in respect of any indemnification obligation, adjustment of purchase
price, non-compete, or similar obligation of Borrowers or the applicable Loan Party incurred in connection with the consummation of one or more Permitted Acquisitions, 

(o) Indebtedness composing Permitted Investments, 

(p) unsecured Indebtedness incurred in respect of netting services, overdraft protection, and other like services, in each case, incurred in
the ordinary course of business, 
 (q) unsecured Indebtedness of any Borrower or its Subsidiaries in respect of Earn-Outs owing to sellers
of assets or Equity Interests to such Borrower or its Subsidiaries that is incurred in connection with the consummation of one or more Permitted Acquisitions so long as such unsecured Indebtedness is on terms and conditions reasonably acceptable to
Agent; provided, that, the definitive documentation relating to such Earn-Out shall not require payment thereof at any time if after giving effect to such payment (i) an Event of Default shall have occurred and be continuing or (ii) if
average Excess Availability plus Qualifying Cash for the immediately preceding thirty (30) day period is less than $5,000,000, 
 (r)
[intentionally omitted], 
 (s) accrual of interest, accretion or amortization of original issue discount, or the payment of interest in
kind, in each case, on Indebtedness that otherwise constitutes Permitted Indebtedness, 
 (t) subject to the terms of the Subordination
Agreement, Indebtedness under the Harbert Credit Facility in an aggregate amount not the exceed $6,600,000 and any Refinancing Indebtedness in respect of such Indebtedness; 

(u) Subordinated Indebtedness, and 

(v) any other unsecured Indebtedness incurred by any Borrower or any of its Subsidiaries in an aggregate outstanding amount not to exceed
$250,000 at any one time. 
 “Permitted Intercompany Advances” means loans made by (a) a Loan Party to another Loan
Party, (b) a Subsidiary of a Borrower that is not a Loan Party to another Subsidiary of a Borrower that is not a Loan Party and (c) a Subsidiary of a Borrower that is not a Loan Party to a Loan Party, so long as the parties thereto are
party to the Intercompany Subordination Agreement. 
 “Permitted Investments” means: 

(a) Investments in cash and Cash Equivalents, 

(b) Investments in negotiable instruments deposited or to be deposited for collection in the ordinary course of business, 

(c) advances made in connection with purchases of goods or services in the ordinary course of business, 

(d) Investments received in settlement of amounts due to any Loan Party or any of its Subsidiaries effected in the ordinary course of business
or owing to any Loan Party or any of its Subsidiaries as a result of Insolvency Proceedings involving an account debtor or upon the foreclosure or enforcement of any Lien in favor of a Loan Party or its Subsidiaries, 

  
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 (e) Investments owned by any Loan Party or any of its Subsidiaries on the Closing Date and set
forth on Schedule P-1 to the Agreement, 
 (f) guarantees permitted under the definition of Permitted Indebtedness, 

(g) Permitted Intercompany Advances, 

(h) Equity Interests or other securities acquired in connection with the satisfaction or enforcement of Indebtedness or claims due or owing to
a Loan Party or its Subsidiaries (in bankruptcy of customers or suppliers or otherwise outside the ordinary course of business) or as security for any such Indebtedness or claims, 

(i) deposits of cash made in the ordinary course of business to secure performance of operating leases, 

(j) (i) non-cash loans and advances to employees, officers, and directors of Administrative Borrower or any of its Subsidiaries for the
purpose of purchasing Equity Interests in Administrative Borrower so long as the proceeds of such loans are used in their entirety to purchase such Equity Interests in Administrative Borrower, and (ii) loans and advances to employees and
officers of any Borrower or any of its Subsidiaries in the ordinary course of business for any other business purpose and in an aggregate amount not to exceed $250,000, 

(k) Permitted Acquisitions, 

(1) Investments in the form of capital contributions and the acquisition of Equity Interests made by any Loan Party in any other Loan Party
(other than capital contributions to or the acquisition of Equity Interests of any Borrower), 
 (m) Investments resulting from entering
into (i) Bank Product Agreements, or (ii) agreements relative to Indebtedness that is permitted under clause (j) of the definition of Permitted Indebtedness, 

(n) equity Investments by any Loan Party in any Subsidiary of such Loan Party which is required by law to maintain a minimum net capital
requirement or as may be otherwise required by applicable law, 
 (o) Investments held by a Person acquired in a Permitted Acquisition to
the extent that such Investments were not made in contemplation of or in connection with such Permitted Acquisition and were in existence on the date of such Permitted Acquisition, and 

(p) so long as no Event of Default has occurred and is continuing or would result therefrom, any other Investments in an aggregate amount not
to exceed $250,000 during the term of the Agreement. 
 “Permitted Liens” means 

(a) Liens granted to, or for the benefit of, Agent to secure the Obligations, 

  
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 (b) Liens for unpaid taxes, assessments, or other governmental charges or levies that either
(i) are not yet delinquent, or (ii) do not have priority over Agent’s Liens and the underlying taxes, assessments, or charges or levies are the subject of Permitted Protests, 

(c) judgment Liens arising solely as a result of the existence of judgments, orders, or awards that do not constitute an Event of Default
under Section 8.3 of the Agreement, 
 (d) Liens set forth on Schedule P-2 to the Agreement; provided, that to
qualify as a Permitted Lien, any such Lien described on Schedule P-2 to the Agreement shall only secure the Indebtedness that it secures on the Closing Date and any Refinancing Indebtedness in respect thereof, 

(e) the interests of lessors under operating leases and non-exclusive licensors under license agreements, 

(f) purchase money Liens or the interests of lessors under Capital Leases to the extent that such Liens or interests secure Permitted Purchase
Money Indebtedness and so long as (i) such Lien attaches only to the asset purchased or acquired and the proceeds thereof, and (ii) such Lien only secures the Indebtedness that was incurred to acquire the asset purchased or acquired or any
Refinancing Indebtedness in respect thereof, 
 (g) Liens arising by operation of law in favor of warehousemen, landlords, carriers,
mechanics, materialmen, laborers, or suppliers, incurred in the ordinary course of business and not in connection with the borrowing of money, and which Liens either (i) are for sums not yet delinquent, or (ii) are the subject of Permitted
Protests, 
 (h) Liens on amounts deposited to secure any Borrower’s and its Subsidiaries’ obligations in connection with
worker’s compensation or other unemployment insurance, 
 (i) Liens on amounts deposited to secure any Borrower’s and its
Subsidiaries’ obligations in connection with the making or entering into of bids, tenders, or leases in the ordinary course of business and not in connection with the borrowing of money, 

(j) Liens on amounts deposited to secure any Borrower’s and its Subsidiaries’ reimbursement obligations with respect to surety or
appeal bonds obtained in the ordinary course of business, 
 (k) with respect to any Real Property, easements, rights of way, and zoning
restrictions that do not materially interfere with or impair the use or operation thereof, 
 (1) non-exclusive licenses of patents,
trademarks, copyrights, and other intellectual property rights in the ordinary course of business, 
 (m) Liens that are replacements of
Permitted Liens to the extent that the original Indebtedness is the subject of permitted Refinancing Indebtedness and so long as the replacement Liens only encumber those assets that secured the original Indebtedness, 

(n) rights of setoff or bankers’ liens upon deposits of funds in favor of banks or other depository institutions, solely to the extent
incurred in connection with the maintenance of such Deposit Accounts in the ordinary course of business, 

  
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 (o) Liens granted in the ordinary course of business on the unearned portion of insurance
premiums securing the financing of insurance premiums to the extent the financing is permitted under the definition of Permitted Indebtedness, 

(p) Liens in favor of customs and revenue authorities arising as a matter of law to secure payment of customs duties in connection with the
importation of goods, 
 (q) Liens solely on any cash earnest money deposits made by a Borrower or any of its Subsidiaries in connection
with any letter of intent or purchase agreement with respect to a Permitted Acquisition, 
 (r) Liens assumed by any Borrower or its
Subsidiaries in connection with a Permitted Acquisition that secure Acquired Indebtedness, 
 (s) subject to the Subordination Agreement,
Liens securing Indebtedness permitted pursuant to clause (t) of the definition of Permitted Indebtedness, and 
 (t) other Liens which
do not secure Indebtedness for borrowed money or letters of credit and as to which the aggregate amount of the obligations secured thereby does not exceed $250,000. 

“Permitted Protest” means the right of any Borrower or any of its Subsidiaries to protest any Lien (other than any Lien that
secures the Obligations), taxes (other than payroll taxes or taxes that are the subject of a United States federal tax lien), or rental payment, provided that (a) a reserve with respect to such obligation is established on such Borrower’s
or its Subsidiaries’ books and records in such amount as is required under GAAP, (b) any such protest is instituted promptly and prosecuted diligently by such Borrower or its Subsidiary, as applicable, in good faith, and (c) Agent is
satisfied that, while any such protest is pending, there will be no impairment of the enforceability, validity, or priority of any of Agent’s Liens. 

“Permitted Purchase Money Indebtedness” means, as of any date of determination, Indebtedness (other than the Obligations, but
including Capitalized Lease Obligations), incurred after the Closing Date and at the time of, or within 20 days after, the acquisition of any fixed assets for the purpose of financing all or any part of the acquisition cost thereof, in an aggregate
principal amount outstanding at any one time not in excess of $2,000,000. 
 “Person” means natural persons, corporations,
limited liability companies, limited partnerships, general partnerships, limited liability partnerships, joint ventures, trusts, land trusts, business trusts, or other organizations, irrespective of whether they are legal entities, and governments
and agencies and political subdivisions thereof. 
 “Platform” has the meaning specified therefor in
Section 17.9(c) of the Agreement. 
 “Projections” means Borrowers’ forecasted (a) balance sheets,
(b) profit and loss statements, and (c) cash flow statements, all prepared on a basis consistent with Borrowers’ historical financial statements, together with appropriate supporting details and a statement of underlying assumptions.

  
 - 33 - 

 “Pro Rata Share” means, as of any date of determination: 

(a) with respect to a Lender’s obligation to make all or a portion of the Revolving Loans, with respect to such Lender’s right to
receive payments of interest, fees, and principal with respect to the Revolving Loans, and with respect to all other computations and other matters related to the Revolver Commitments or the Revolving Loans, the percentage obtained by dividing
(i) the Revolving Loan Exposure of such Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders, 
 (b) with respect
to a Lender’s obligation to participate in the Letters of Credit, with respect to such Lender’s obligation to reimburse Issuing Bank, and with respect to such Lender’s right to receive payments of Letter of Credit Fees, and with
respect to all other computations and other matters related to the Letters of Credit, the percentage obtained by dividing (i) the Revolving Loan Exposure of such Lender by (ii) the aggregate Revolving Loan Exposure of all Lenders;
provided, that if all of the Revolving Loans have been repaid in full and all Revolver Commitments have been terminated, but Letters of Credit remain outstanding, Pro Rata Share under this clause shall be determined as if the Revolver
Commitments had not been terminated and based upon the Revolver Commitments as they existed immediately prior to their termination, 
 (c)
with respect to a Lender’s obligation to make all or a portion of the Term Loan, with respect to such Lender’s right to receive payments of interest, fees, and principal with respect to the Term Loan, and with respect to all other
computations and other matters related to the Term Loan Commitments or the Term Loan, the percentage obtained by dividing (i) the Term Loan Exposure of such Lender by (ii) the aggregate Term Loan Exposure of all Lenders, and 

(d) with respect to all other matters and for all other matters as to a particular Lender (including the indemnification obligations arising
under Section 15.7 of the Agreement), the percentage obtained by dividing (i) the sum of the Term Loan Exposure of such Lender plus the Revolving Loan Exposure of such Lender by (ii) the sum of the aggregate Term Loan Exposure
of all Lenders plus the aggregate Revolving Loan Exposure of all Lenders, in any such case as the applicable percentage may be adjusted by assignments permitted pursuant to Section 13.1; provided, that if all of the Loans have been
repaid in full, all Letters of Credit have been made the subject of Letter of Credit Collateralization, and all Commitments have been terminated, Pro Rata Share under this clause shall be determined as if the Revolving Loan Exposures and Term Loan
Exposures had not been repaid, collateralized, or terminated and shall be based upon the Revolving Loan Exposures and Term Loan Exposures as they existed immediately prior to their repayment, collateralization, or termination. 

“Protective Advances” has the meaning specified therefor in Section 2.3(d)(i) of the Agreement. 

“Public Lender” has the meaning specified therefor in Section 17.9(c) of the Agreement. 

“Purchase Price” means, with respect to any Acquisition, an amount equal to the aggregate consideration, whether cash,
property or securities (including the fair market value of any Equity Interests of Administrative Borrower issued in connection with such Acquisition and including the maximum amount of Earn-Outs), paid or delivered by a Borrower or one of its
Subsidiaries in connection with such Acquisition (whether paid at the closing thereof or payable thereafter and whether fixed or contingent), but excluding therefrom (a) any cash of the seller and its Affiliates used to fund any portion of such
consideration and (b) any cash or Cash Equivalents acquired in connection with such Acquisition. 

  
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 “Qualified Cash” means, as of any date of determination, the amount of
unrestricted cash and Cash Equivalents of Borrowers and their Subsidiaries that is in Deposit Accounts or in Securities Accounts, or any combination thereof, and which such Deposit Account or Securities Account is the subject of a Control Agreement
and is maintained by a branch office of the bank or securities intermediary located within the United States. 
 “Qualified Equity
Interest” means and refers to any Equity Interests issued by Administrative Borrower (and not by one or more of its Subsidiaries) that is not a Disqualified Equity Interest. 

“Real Property” means any estates or interests in real property now owned or hereafter acquired by any Borrower or one of its
Subsidiaries and the improvements thereto. 
 “Real Property Collateral” means (a) the Real Property identified on
Schedule R-1 to the Agreement and (b) any Real Property hereafter acquired by any Borrower or one of its Subsidiaries with a fair market value in excess of $1,000,000. 

“Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is
retrievable in perceivable form. 
 “Reference Period” has the meaning set forth in the definition of EBITDA. 

“Refinancing Indebtedness” means refinancings, renewals, or extensions of Indebtedness so long as: 

(a) such refinancings, renewals, or extensions do not result in an increase in the principal amount of the Indebtedness so refinanced,
renewed, or extended, other than by the amount of premiums paid thereon and the fees and expenses incurred in connection therewith and by the amount of unfunded commitments with respect thereto, 

(b) such refinancings, renewals, or extensions do not result in a shortening of the average weighted maturity (measured as of the refinancing,
renewal, or extension) of the Indebtedness so refinanced, renewed, or extended, nor are they on terms or conditions that, taken as a whole, are or could reasonably be expected to be materially adverse to the interests of the Lenders, 

(c) if the Indebtedness that is refinanced, renewed, or extended was subordinated in right of payment to the Obligations, then the terms and
conditions of the refinancing, renewal, or extension must include subordination terms and conditions that are at least as favorable to the Lender Group as those that were applicable to the refinanced, renewed, or extended Indebtedness, and 

(d) the Indebtedness that is refinanced, renewed, or extended is not recourse to any Person that is liable on account of the Obligations other
than those Persons which were obligated with respect to the Indebtedness that was refinanced, renewed, or extended. 

“Register” has the meaning set forth in Section 13.1 (h) of the Agreement. 

“Registered Loan” has the meaning set forth in Section 13.1 (h) of the Agreement. 

  
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 “Related Fund” means any Person (other than a natural person) that is engaged in
making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course and that is administered, advised or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate
of an entity that administers, advises or manages a Lender. 
 “Remedial Action” means all actions taken to (a) clean
up, remove, remediate, contain, treat, monitor, assess, evaluate, or in any way address Hazardous Materials in the indoor or outdoor environment, (b) prevent or minimize a release or threatened release of Hazardous Materials so they do not
migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor environment, (c) restore or reclaim natural resources or the environment, (d) perform any pre-remedial studies, investigations, or post-remedial
operation and maintenance activities, or (e) conduct any other actions with respect to Hazardous Materials required by Environmental Laws. 

“Replacement Lender” has the meaning specified therefor in Section 2.13(b) of the Agreement. 

“Report” has the meaning specified therefor in Section 15.16 of the Agreement. 

“Required Availability” means that the sum of (a) Availability plus (b) Qualified Cash exceeds $4,500,000.

 “Required Lenders” means, at any time, Lenders having or holding more than 50% of the sum of (a) the aggregate
Revolving Loan Exposure of all Lenders, plus (b) the aggregate Term Loan Exposure of all Lenders; provided, that the Revolving Loan Exposure and Term Loan Exposure of any Defaulting Lender shall be disregarded in the determination of the
Required Lenders, (ii) at any time there are 2 or more Lenders, “Required Lenders” must include at least 2 Lenders (who are not Affiliates of one another). 

“Restricted Payment” means to (a) declare or pay any dividend or make any other payment or distribution, directly or
indirectly, on account of Equity Interests issued by Administrative Borrower (including any payment in connection with any merger or consolidation involving Administrative Borrower) or to the direct or indirect holders of Equity Interests issued by
Administrative Borrower in their capacity as such (other than dividends or distributions payable in Qualified Equity Interests issued by Administrative Borrower), or (b) purchase, redeem, make any sinking fund or similar payment, or otherwise
acquire or retire for value (including in connection with any merger or consolidation involving Administrative Borrower) any Equity Interests issued by Administrative Borrower, (c) make any payment to retire, or to obtain the surrender of, any
outstanding warrants, options, or other rights to acquire Equity Interests of Administrative Borrower now or hereafter outstanding, and (d) make, or cause or suffer to permit any Borrowers’ or any of its Subsidiaries to make, any payment
or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, any Subordinated Indebtedness. 

“Revolver Commitment” means, with respect to each Revolving Lender, its Revolver Commitment, and, with respect to all
Revolving Lenders, their Revolver Commitments, in each case as such Dollar amounts are set forth beside such Revolving Lender’s name under the applicable heading on Schedule C-1 to the Agreement or in the Assignment and Acceptance
pursuant to which such Revolving Lender became a Revolving Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1 of the
Agreement. 

  
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 “Revolver Usage” means, as of any date of determination, the sum of (a) the
amount of outstanding Revolving Loans (inclusive of Swing Loans and Protective Advances), plus (b) the amount of the Letter of Credit Usage. 

“Revolving Lender” means a Lender that has a Revolving Loan Commitment or that has an outstanding Revolving Loan. 

“Revolving Loan Exposure” means, with respect to any Revolving Lender, as of any date of determination (a) prior to the
termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender. 

“Revolving Loans” has the meaning specified therefor in Section 2.1(a) of the Agreement. 

“Sanctioned Entity” means (a) a country or a government of a country, (b) an agency of the government of a country,
(c) an organization directly or indirectly controlled by a country or its government, (d) a Person resident in or determined to be resident in a country, in each case, that is subject to a country sanctions program administered and
enforced by OFAC. 
 “Sanctioned Person” means a person named on the list of Specially Designated Nationals maintained by
OFAC. 
 “S&P” has the meaning specified therefor in the definition of Cash Equivalents. 

“SEC” means the United States Securities and Exchange Commission and any successor thereto. 

“Securities Account” means a securities account (as that term is defined in the Code). 

“Seller” means Lemhi Ventures I Fund, LP, Yankee Investment Holdings LLC, Diamond Creek Investment, Ltd., Michael Cho, in his
individual capacity and Michael Chung, his individual capacity. 
 “Settlement” has the meaning specified therefor in
Section 2.3(e)(i) of the Agreement. 
 “Settlement Date” has the meaning specified therefor in
Section 2.3(e)(i) of the Agreement. 
 “Solvent” means, with respect to any Person as of any date of
determination, that (a) at fair valuations, the sum of such Person’s debts (including contingent liabilities) is less than all of such Person’s assets, (b) such Person is not engaged or about to engage in a business or
transaction for which the remaining assets of such Person are unreasonably small in relation to the business or transaction or for which the property remaining with such Person is an unreasonably small capital, and (c) such Person has not
incurred and does not intend to incur, or 

  
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reasonably believe that it will incur, debts beyond its ability to pay such debts as they become due (whether at maturity or otherwise), and (d) such Person is “solvent” or not
“insolvent”, as applicable within the meaning given those terms and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability at any time
shall be computed as the amount that, in light of all of the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent
liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). 
 “Sponsor” means
Great Point Partners or any other investment vehicle sponsored, advised, managed or formed by Great Point Partners, but excluding portfolio companies of any such vehicle. 

“Standard Letter of Credit Practice” means, for Issuing Bank, any domestic or foreign law or letter of credit practices
applicable in the city in which Issuing Bank issued the applicable Letter of Credit or, for its branch or correspondent, such laws and practices applicable in the city in which it has advised, confirmed or negotiated such Letter of Credit, as the
case may be, in each case, (a) which letter of credit practices are of banks that regularly issue letters of credit in the particular city, and (b) which laws or letter of credit practices are required or permitted under ISP or UCP, as
chosen in the applicable Letter of Credit. 
 “Subject Holder” has the meaning specified therefor in
Section 2.4(e)(iv) of the Agreement. 
 “Subordinated Indebtedness” means any unsecured Indebtedness of any
Borrower or its Subsidiaries incurred from time to time that is subordinated in right of payment to the Obligations and (a) that is only guaranteed by the Guarantors, (b) that is not subject to scheduled amortization, redemption, sinking
fund or similar payment and does not have a final maturity, in each case, on or before the date that is six months after the Maturity Date, (c) that does not include any financial covenants or any covenant or agreement that is more restrictive
or onerous on any Loan Party in any material respect than any comparable covenant in the Agreement and, with respect to any such Indebtedness in excess of $250,000 in the aggregate, is otherwise on terms and conditions reasonably acceptable to
Agent, (d) shall be limited to cross-payment default and cross-acceleration to designated “senior debt” (including the Obligations), and (e) the other terms and conditions of the subordination are reasonably acceptable to Agent.

 “Subordination Agreement” means that certain Subordination Agreement, dated as of January 15, 2013 between the
Agent and Harbert Mezzanine Partners II SBIC, L.P., as the same may be amended, restated, supplemented or otherwise modified from time to time in accordance with the terms thereof and hereof. 

“Subsidiary” of a Person means a corporation, partnership, limited liability company, or other entity in which that Person
directly or indirectly owns or controls the Equity Interests having ordinary voting power to elect a majority of the Board of Directors of such corporation, partnership, limited liability company, or other entity. 

“Swing Lender” means Wells Fargo or any other Lender that, at the request of Borrowers and with the consent of Agent agrees,
in such Lender’s sole discretion, to become the Swing Lender under Section 2.3(b) of the Agreement. 

  
 - 38 - 

 “Swing Loan” has the meaning specified therefor in Section 2.3(b) of
the Agreement. 
 “Swing Loan Exposure” means, as of any date of determination with respect to any Lender, such
Lender’s Pro Rata Share of the Swing Loans on such date. 
 “Taxes” means any taxes, levies, imposts, duties, fees,
assessments or other charges of whatever nature now or hereafter imposed by any jurisdiction or by any political subdivision or taxing authority thereof or therein, and all interest, penalties or similar liabilities with respect thereto. 

“Tax Lender” has the meaning specified therefor in Section 14.2(a) of the Agreement. 

“Term Loan” has the meaning specified therefor in Section 2.2 of the Agreement. 

“Term Loan Amount” means $22,500,000. 

“Term Loan Commitment” means, with respect to each Lender, its Term Loan Commitment, and, with respect to all Lenders, their
Term Loan Commitments, in each case as such Dollar amounts are set forth beside such Lender’s name under the applicable heading on Schedule C-1 to the Agreement or in the Assignment and Acceptance pursuant to which such Lender became a
Lender under the Agreement, as such amounts may be reduced or increased from time to time pursuant to assignments made in accordance with the provisions of Section 13.1 of the Agreement. 

“Term Loan Exposure” means, with respect to any Term Loan Lender, as of any date of determination (a) prior to the
funding of the Term Loan, the amount of such Lender’s Term Loan Commitment, and (b) after the funding of the Term Loan, the outstanding principal amount of the Term Loan held by such Lender. 

“Term Loan Lender” means a Lender that has a Term Loan Commitment or that has a portion of the Term Loan. 

“Total Leverage Ratio” means, as of any date of determination, the ratio of (a) Borrowers’ Funded Indebtedness as
of such date to (b) Borrowers’ T4Q EBITDA for the 4 fiscal quarter period ended as of such date. 
 “Total Leverage Ratio
Calculation” has the meaning set forth in the definition of Applicable Margin. 
 “Trademark Security Agreement”
has the meaning specified therefor in the Guaranty and Security Agreement. 
 “T4Q EBITDA” means, as of any date of
determination, EBITDA of Borrowers determined on a consolidated basis in accordance with GAAP, for the 4 fiscal quarter period most recently ended. 

“TTM EBITDA” means, as of any date of determination, EBITDA of Borrowers determined on a consolidated basis in accordance
with GAAP, for the 12 month period most recently ended. 

  
 - 39 - 

 “UCP” means, with respect to any Letter of Credit, the Uniform Customs and
Practice for Documentary Credits 2007 Revision, International Chamber of Commerce Publication No. 600 and any subsequent revision thereof adopted by the International Chamber of Commerce on the date such Letter of Credit is issued. 

“United States” means the United States of America. 

“Unused Line Fee” has the meaning specified therefor in Section 2.10(b) of the Agreement. 

“Voidable Transfer” has the meaning specified therefor in Section 17.8 of the Agreement. 

“Wells Fargo” means Wells Fargo Bank, National Association, a national banking association. 

“Withdrawal Liability” means liability with respect to a Multiemployer Plan as a result of a complete or partial withdrawal
from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 

  
 - 40 - 

 Schedule 3.1 

The obligation of each Lender to make its initial extension of credit provided for in the Agreement is subject to the fulfillment, to the
satisfaction of each Lender (the making of such initial extension of credit by any Lender being conclusively deemed to be its satisfaction or waiver of the following), of each of the following conditions precedent: 

(a) the Closing Date shall occur on or before January 15, 2013; 

(b) Agent shall have received a letter duly executed by each Loan Party authorizing Agent to file appropriate financing statements in such
office or offices as may be necessary or, in the opinion of Agent, desirable to perfect the security interests to be created by the Loan Documents; 

(c) Agent shall have received evidence that appropriate financing statements have been duly filed in such office or offices as may be
necessary or, in the opinion of Agent, desirable to perfect the Agent’s Liens in and to the Collateral, and Agent shall have received searches reflecting the filing of all such financing statements; 

(d) Agent shall have received each of the following documents, in form and substance satisfactory to Agent, duly executed and delivered, and
each such document shall be in full force and effect: 
 (i) the Credit Agreement; 

(ii) the Copyright Security Agreement, 

(iii) the Fee Letter, 
 (iv)
the Flow of Funds Agreement, 
 (v) the Guaranty and Security Agreement, 

(vi) the Intercompany Subordination Agreement, 

(vii) a Perfection Certificate, 

(viii) the Patent Security Agreement, 

(ix) the Trademark Security Agreement, 

(x) a letter, in form and substance satisfactory to Agent, from Comerica Bank, in its capacity as administrative agent under the Existing
Credit Facility (“Existing Agent”) to Agent respecting the amount necessary to repay in full all of the obligations of Connecture and its Subsidiaries owing under the Existing Credit Facility and obtain a release of all of the Liens
existing in favor of Existing Agent in and to the assets of Connecture and its Subsidiaries, together with termination statements and other documentation evidencing the termination by Existing Agent of its Liens in and to the properties and assets
of Connecture and its Subsidiaries, and 

 (xi) a letter, in form and substance satisfactory to Agent, from Aaron Downend to Agent
respecting the amount necessary to repay in full all of the obligations of Connecture and its Subsidiaries owing under that certain promissory note in the original principal amount of $160,000 and obtain a release of all of the Liens existing in
favor of Aaron Downend in and to the assets of Connecture and its Subsidiaries, together with termination statements and other documentation evidencing the termination by Aaron Downend of his Liens in and to the properties and assets of Connecture
and its Subsidiaries; 
 (xii) a letter, in form and substance satisfactory to Agent, from Patrick Downend to Agent respecting the amount
necessary to repay in full all of the obligations of Connecture and its Subsidiaries owing under that certain promissory note in the original principal amount of $840,000 and obtain a release of all of the Liens existing in favor of Patrick Downend
in and to the assets of Connecture and its Subsidiaries, together with termination statements and other documentation evidencing the termination by Patrick Downend of his Liens in and to the properties and assets of Connecture and its Subsidiaries;

 (xiii) satisfactory to the Agent; the amendment to the Harbert Loan and Security Agreement, in a form 

(xiv) the Subordination Agreement; 

(e) Agent shall have received a certificate from the Secretary of each Loan Party (i) attesting to the resolutions of such Loan
Party’s board of directors authorizing its execution, delivery, and performance of the Loan Documents to which it is a party, (ii) authorizing specific officers of such Loan Party to execute the same, and (iii) attesting to the
incumbency and signatures of such specific officers of such Loan Party; 
 (f) Agent shall have received copies of each Loan Party’s
Governing Documents, as amended, modified, or supplemented to the Closing Date, certified by the Secretary of such Loan Party; 
 (g) Agent
shall have received a certificate of status with respect to each Loan Party, dated within 10 days of the Closing Date, such certificate to be issued by the appropriate officer of the jurisdiction of organization of such Loan Party, which certificate
shall indicate that such Loan Party is in good standing in such jurisdiction; 
 (h) Agent shall have received certificates of status with
respect to each Loan Party, each dated within 30 days of the Closing Date, such certificates to be issued by the appropriate officer of the jurisdictions (other than the jurisdiction of organization of such Loan Party) in which its failure to be
duly qualified or licensed would constitute a Material Adverse Effect, which certificates shall indicate that such Loan Party is in good standing in such jurisdictions; 

(i) Agent shall have received a certificate of insurance, together with the endorsements thereto, as are required by Section 5.6
of the Agreement, the form and substance of which shall be satisfactory to Agent; 
 (j) Agent shall have received an opinion of the Loan
Parties’ counsel in form and substance satisfactory to Agent; 

  
 -2- 

 (k) Borrower shall have the Required Availability after giving effect to the initial extensions
of credit under the Agreement and the payment of all fees and expenses required to be paid by Borrower on the Closing Date under the Agreement or the other Loan Documents; 

(1) Agent shall have completed its business, legal, and collateral due diligence, including (i) a review of each Borrower’s and its
Subsidiaries’ respective books and records and a recurring revenue valuation performed by a firm selected by Agent, (ii) a review of a quality of earnings report for each Borrower and its respective Subsidiaries performed by a firm
selected by Agent, and (iii) a review of each Borrower’s and its Subsidiaries’ respective material agreements, in each case, the results of which shall be satisfactory to Agent; 

(m) Agent shall have completed (i) Patriot Act searches, OFAC/PEP searches and customary individual background checks for each Loan
Party, and (ii) OFACiPEP searches and customary individual background searches for each Loan Party’s senior management and key principals, the results of which shall be satisfactory to Agent; 

(n) Agent shall have received a set of Projections of Borrower for the 3 year period following the Closing Date (on a year by year basis, and
for the 1 year period following the Closing Date, on a month by month basis), in form and substance (including as to scope and underlying assumptions) satisfactory to Agent; 

(o) Borrower shall have paid all Lender Group Expenses incurred in connection with the transactions evidenced by the Agreement and the other
Loan Documents; 
 (p) Agent shall have received appraisals of the Real Property Collateral satisfactory to Agent; 

(q) Agent shall have received a phase-I environmental report and a real estate survey with respect to each parcel composing the Real Property
Collateral; the environmental consultants and surveyors retained for such reports or surveys, the scope of the reports or surveys, and the results thereof shall be acceptable to Agent; 

(r) Agent shall have received evidence in form satisfactory to it that the Merger shall have been consummated on or prior to the Closing Date
in accordance with the Acquisition Documentation (as defined below) and all applicable requirements of taw, and no terms or conditions of the Acquisition Documentation (other than any immaterial terms or conditions) shall have been waived without
the consent of Agent; 
 (s) the Acquisition Agreement (including schedules, exhibits and annexes thereto) and all other all documentation
associated with the Merger (collectively, the “Acquisition Documentation”) shall be in form and substance satisfactory to Agent; 

(t) Agent shall have received a solvency certificate, in form and substance satisfactory to it, certifying as to the solvency of the Loan
Parties taken as a whole after giving effect to the Merger; 
 (u) The Borrowers and each of their respective Subsidiaries shall have
received all governmental and third party approvals (including shareholder approvals, Hart-Scott-Rodino clearance and other consents) necessary or, in the reasonable opinion of Agent, advisable in connection with the Agreement or the transactions
contemplated by the Loan Documents, which shall all be in full force and 

  
 -3- 

 
effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any competent authority which would restrain, prevent or otherwise impose adverse
conditions on the Credit Agreement or the transactions contemplated by the Loan Documents. The Borrowers and each of their Subsidiaries shall have received all licenses, approvals or evidence of other actions required by any Governmental Authority
in connection with the execution and delivery by each Borrower or its respective Subsidiaries of the Loan Documents or with the consummation of the transactions contemplated thereby; 

(v) the Revolving Usage shall not exceed $4,000,000 on the Closing Date; 

(w) that certain Subordinated Promissory Note in the principal sum of $3,000,000, dated as of January 15, 2013, made by Connecture, Inc.
in favor of Randall P. Herman, shall contain subordination provisions satisfactory to the Agent; and 
 (x) all other documents and legal
matters in connection with the transactions contemplated by the Agreement shall have been delivered, executed, or recorded and shall be in form and substance satisfactory to Agent. 

  
 -4- 

 Schedule 3.6 

Conditions Subsequent 
 The obligation of
the Lender Group (or any member thereof) to extend credit under the Agreement is subject to the fulfillment, on or before the date applicable thereto or such later date as the Agent agrees in its reasonable discretion, of each of the following
conditions subsequent: 
  

	 	(a)	on or prior to the date that is 90 days from the Closing Date, Agent shall have received Collateral Access Agreements for the chief executive office of each Loan Party and each other location where books and records of
the Loan Parties are kept. 

  

	 	(b)	on or prior to the date that is 10 business days from the Closing Date, Agent shall have received (i) certificates of insurance and (ii) endorsements to any certificate of insurance delivered pursuant to
Section 3.1 of the Agreement, the form and substance of which shall be satisfactory to Agent. 

  

	 	(c)	on or prior to the date that is six months after the Closing Date, Agent shall be paid $275,000 pursuant to Section A.1. of the Fee Letter. 

 

	 	(d)	except as permitted pursuant to Section 5.15 of the Credit Agreement, from and after the date that is 90 days after the Closing Date or, if later, 10 days after the acquisition of any deposit account or securities
account (as any such date may be extended by Agent), maintain its primary Deposit Accounts and Securities Accounts of the Loan Parties and their Subsidiaries located in a jurisdiction in the United States (a) only at Wells Fargo or one or more
of its Affiliates and (b) subject to a Control Agreement or an equivalent agreement under applicable law. 

  

	 	(e)	On or prior to the third Business Day following the Closing Date, DRX shall provide evidence to Agent, in form and substance satisfactory to Agent, that it has made a one-time deposit in an amount not to exceed $250,000
into an account established at Comerica Bank which account shall be for the sole and exclusive purpose of providing cash collateral to secure that certain letter of credit, dated November 16, 2011, issued by Comerica Bank in favor of
DestinationRX, Inc. and for the benefit of 600 Wilshire Property LLC. 

  
 1 

 SCHEDULE 4.1(b) 

Capitalization of Borrowers 
  

									
	 Borrower
	  	 Authorized Shares
	  	 Issued Shares
	  	 Outstanding Shares
	  	 Record owner of shares

	CONNECTURE, INC.	  	101,500,000 shares consisting of 54,700,000 shares of Common Stock and 46,800,00 shares of Preferred Stock (26,100,000 Series A Preferred shares, 20,700,000 Series B Preferred shares)	  	45,136,675	  	45,136,675	  	See attached capitalization table.
					
	DESTINATIONRX, INC.	  	1,000 shares of Common Stock	  	1,000	  	1,000	  	CONNECTURE, INC.

  

 SCHEDULE 4.1(c) 

Capitalization of Borrowers’ Subsidiaries 
  

									
	 Subsidiary
	  	 Authorized Shares
	  	 Issued Shares
	  	 Outstanding Shares
	  	 Record owner of

shares

	INSURIX, INC.	  	20,000 shares consisting of 10,000 shares of Non-Voting Common Stock and 10,000 shares of Voting Common stock.	  	2000	  	2000	  	CONNECTURE, INC.
					
	RXHEALTH INSURANCE AGENCY, INC.	  	100 shares of common stock	  	1	  	1	  	DESTINATIONRX, INC.

  

 Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested for this omitted information. 
 SCHEDULE 4.1(d) 

Subscriptions, Options, Warrants, Calls 
 1.
Connecture, Inc. has granted the following options to purchase common stock: 
  

											
	 Name
	  	 Role
	  	 Vesting

Commencement

Date
	  	Options	 	  	ISO / NSO
	 Doug Schneider**
	  	 CEO
	  	 3-Aug-12
	  	 	1,522,386	  	  	ISO
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 Dave Sockel
	  	 Sales
	  	 3-Aug-12
	  	 	466,232	  	  	ISO
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 Mark Granville
	  	 Client serv, acct Mgmt, IT
	  	 3-Aug-12
	  	 	466,232	  	  	ISO
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
	 [****]
	  	 [****]
	  	 [****]
	  	 	[****]	  	  	[****]
		  		  		  	  
	  
	 	  	
	 [****]
	  		  		  	 	[****]	  	  	
		  		  		  	  
	  
	 	  	
	 [****]
	  		  		  	 	[****]	  	  	
		  		  		  	  
	  
	 	  	

  

	**	Listed on Cap Table and Not Included in “Other Outstanding Options” 

 Total on Cap Table 

  

 2. Connecture, Inc. has issued the following warrants: 

 

											
	 Holder
	  	Type of
Shares	  	Number of
Shares	 	  	Exercise Price	 
	 Harbert Mezzanine Partners II SBIC, L.P.
	  	Series B	  	 	928,110	  	  	$	0.001	  
	 Harbert Mezzanine Partners II SBIC, L.P.
	  	Series A	  	 	1,172,736	  	  	$	0.001	  
	 Harbert Mezzanine Partners II SBIC, L.P.
	  	Common Stock	  	 	351,151	  	  	$	0.001	  

  

 SCHEDULE 4.6 

Litigation 
  

	1.	On September 25, 2012, DestinationRX, Inc. received a “Cease and Desist Unauthorized Access/Use of Microsoft Software” letter from Adam Longacre, Finance manager of Microsoft Licensing, GP stating that it
has come to Microsoft Corporation’s attention that DestinationRX, Inc. is providing its customers with access to and/or use of Microsoft software with the incorrect license to do so. The letter further states that Microsoft demands that
DestinationRX, Inc. immediately cease and desist from providing unauthorized access to or use of Microsoft software, as well as all infringing activities. As of the date of the Credit Agreement DestinationRX, Inc. is in discussions regarding a
possible resolution to this matter. 

  

 SCHEDULE 4.11 

Environmental Matters 
 None. 

  

 SCHEDULE 4.14 

Permitted Indebtedness 
  

	 	1.	Loan and Security Agreement by and among Connecture, Inc., Insurix, Inc. and Harbert Mezzanine Partners II SBIC, L.P., dated February 16, 2011. 

 

	 	2.	Subordinated Promissory Note, dated December 31, 2012, issued by Connecture, Inc. to Randall P. Herman, in the principal amount of $3,000,000. 

 Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested for this omitted information. 
 SCHEDULE 4.22 

Material Contracts 
 CONNECTURE, INC.1 
  

	 	1.	Subcontract Agreement Between [****] and Connecture, Inc. for [****], dated April 1, 2012. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to Connecture,
Inc.’s software products. 

  

	 	2.	Software License Agreement Between Connecture, Inc. and [****], dated April 30, 2012. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to Connecture,
Inc.’s software products. 

  

	 	3.	Master Services and Software Agreement by and between Connecture, Inc. and Blue Cross and Blue Shield of Michigan, an Independent Licensee of the Blue Cross and Blue Shield Association, dated December 22, 2011.
Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to Connecture, Inc.’s software products. 

  

	 	4.	Master Services and Software Agreement by and between Connecture, Inc. and [****], dated June 28, 2012. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to
Connecture, Inc.’s software products. 

  

	 	5.	Master Services Agreement by and between Connecture, Inc. and [****], as amended, dated January 20, 2003. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to
Connecture, Inc.’s software products. 

  

	 	6.	Master Services and Software Agreement by and between Connecture, Inc. and [****], as amended, dated December 15, 2011. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or
licenses to Connecture, Inc.’s software products. 

  

	 	7.	Master Services and Software Agreement by and between Connecture, Inc. and [****], dated November 20, 2009. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to
Connecture, Inc.’s software products. 

  

	 	8.	Application Service Provider Agreement Between Connecture Inc. and [****], as amended, dated January 1, 2010. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses
to Connecture, Inc.’s software products. 

  
  

	1 	Agreements listed without regard to threshold amount. 

 Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested for this omitted information. 
  

	 	9.	[****] Master Agreement, as amended, dated November 20, 2003. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to Connecture, Inc.’s software products.

  

	 	10.	Master Services and Software Agreement by and between Connecture, Inc. and [****], dated January 30, 2012. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to
Connecture, Inc.’s software products. 

  

	 	11.	Master Services and Software Agreement by and between Connecture, Inc. and [****], dated March 29, 2012. Pursuant to this agreement, Connecture, Inc. provides certain professional services for and/or licenses to
Connecture, Inc.’s software products. 

  

	 	12.	Lease, dated 3/31/11 by and between Pro-Park Group and Connecture, Inc. as amended by the Second Lease Amendment, dated 12/31/11. This agreement is a commercial office lease. 

 

	 	13.	Lease Agreement, by and between CORE Realty Holdings Management, Inc. fbo Brookfield Lakes Tenants in Common, and Connecture, Inc., dated 5/10/12. This agreement is a commercial office lease. 

 

	 	14.	Office Lease Agreement by and between 101 Marietta Street Associates and Connecture, Inc. dated 9/23/04, as assigned to Atlanta Centennial, LLC, as Landlord on 5/27/05, as amended on 10/7/2010, as assigned to CIP II/JOS
Centennial Tower LLC as Landlord on 3/6/12. This agreement is a commercial office lease. 

 DESTINATIONRX, INC.2 
  

	 	1.	Master [****] Agreement dated as of 5/1/2005 by and between [****] and DestinationRx (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	2.	Master Agreement effective as of 4/21/2008 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	3.	[****] Access and License Agreement effective as of 12/13/2005 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto),
with [****] cash received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, 

 

	2 	Agreements listed without regard to threshold amount. 

 Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested for this omitted information. 
  

	 	    	decision support products and services, professional services, hosting services, subscriptions and/or licenses of DestinationRx, Inc.’s software products and related data, documentation and information.

  

	 	4.	Master Agreement effective as of 12/30/2011 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	5.	License and Services Agreement dated 7/1/2010 by and between [****] and DestinationRx, Inc. (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	6.	Electronic Online Application Manager Schedule effective as of 8/24/2007 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments
thereto), with [****] cash received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions
and/or licenses of DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	7.	Application Services Provider Agreement dated 9/29/2006 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with
[****] cash received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	8.	Master Agreement effective as of 8/31/2009 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	9.	Master Agreement effective as of 3/31/2012 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

 Text marked [****] has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested for this omitted information. 
  

	 	10.	Master Agreement effective as of 7/1/2010 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] cash
received year to date as of 11/30/2012. Pursuant to this agreement, DestinationRx, Inc. provides certain data management, decision support products and services, professional services, hosting services, subscriptions and/or licenses of
DestinationRx, Inc.’s software products and related data, documentation and information. 

  

	 	11.	Multi-Flex Insurance Policy effective 4/14/2012 by and between The Hartford and DestinationRx (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with
$412,909.64 paid year to date as of 11/30/2012. This is an insurance policy. 

  

	 	12.	Master Agreement effective as of 6/15/2012 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto), with [****] paid
year to date as of 11/30/2012. This is a supplier agreement. 

  

	 	13.	Master Services Agreement effective as of 8/29/2001 by and between DestinationRx, Inc. and [****] (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments thereto). This is a
3rd party co-location agreement. 

  

	 	14.	Office Lease Agreement effective as of 11/1/2011 by and between DestinationRx, Inc. and 600 Wilshire Property, LLC (including all amendments, statements of work, purchase orders, exhibits, appendices and attachments
thereto). This agreement is a commercial office lease. 

  

	 	15.	Standard Office Lease for Suite 700 at East Lake Street, Chicago, IL effective as of November 29, 2003 by and between the Company and East Lake Street Associates, LLC (including all amendments, statements of work,
purchase orders, exhibits, appendices and attachments thereto). This agreement is a commercial office lease. 

  

	 	16.	Agreement of Lease dated February 29, 2007, and the First Amendment to Lease Agreement dated December 20, 2010, both by and between the Company and Lakefront North Investors Limited Partnership. This agreement
is a commercial office lease. 

 INSURIX, INC. 

None. 
 RXHEALTH AGENCY, INC. 

None. 
  

 Schedule 5.1 

Deliver to Agent (and if so requested by Agent, with copies for each Lender) each of the financial statements, reports, or other items set
forth below at the following times in form satisfactory to Agent: 
  

			
	as soon as available, but in any event within 30 days
(45 days in the case of a month that is the end of the Administrative Borrower’s fiscal quarters) after the end of each month, beginning December 2012, during the
Administrative Borrower’s fiscal years,	 	 (a) an unaudited consolidated and consolidating balance sheet, income statement, statement of cash flow, and statement of shareholder’s
equity (prepared on an as billed basis and GAAP basis) covering the Administrative Borrower’s and its Subsidiaries’ operations during such period and compared to the prior period and plan, together with a corresponding discussion and
analysis of results from management, and
  
 (b) a Compliance Certificate along with the
underlying calculations, including the calculations to arrive at EBITDAl to the extent applicable.

		
	as soon as available, but in any event within 90 days after the end of the Administrative Borrower’s fiscal years; provided that, delivery for the 2012 fiscal year may be made within 150 days,	 	 (c) consolidated and consolidating financial statements of the Administrative Borrower and its Subsidiaries for each such fiscal year,
audited by independent certified public accountants reasonably acceptable to Agent and certified, without any qualifications (including any (A) “going concern” or like qualification or exception, (B) qualification or exception as to the
scope of such audit, or (C) qualification which relates to the treatment or classification of any item and which, as a condition to the removal of such qualification, would require an adjustment to such item, the effect of which would be to cause
any noncompliance with the provisions of Section 7 of the Agreement), by such accountants to have been prepared in accordance with GAAP (such audited financial statements to include a balance sheet, income statement, statement of cash flow,
and statement of shareholder’s equity, and, if prepared, such accountants’ letter to management),
  

(d) a Compliance Certificate along with the underlying calculations, including the calculations to arrive at EBITDA to the extent applicable, and

 
 (e) a detailed calculation of Excess Cash Flow.

		
	as soon as available, but in any event within 30 days prior	 	(f) copies of the Administrative Borrower’s Projections, in form and substance (including as to scope and underlying assumptions) satisfactory to Agent, in its Permitted Discretion, for the forthcoming
3 years, year by year,
and for the

  

	1 	Wells Fargo would like a calculation from the Borrower to arrive at the EBITDA figure conforming to the definition as set forth in Schedule 1.1. 

			
	to the start of the Administrative Borrower’s fiscal years,	  	forthcoming fiscal year, month by month fiscal quarter by fiscal quarter, certified by the chief financial officer of the Administrative Borrower as being such officer’s good faith estimate of the financial performance of the
Administrative Borrower during the period covered thereby.
		
	if and when filed by a Borrower,	  	 (g) Form 10-Q quarterly reports, Form 10-K annual reports, and Form 8-K current reports,

 
 (h) any other filings made by such Borrower with the SEC, and

 
 (i) any other information that is provided by such Borrower to its shareholders
generally.

		
	promptly, but in any event within 5 days after a Borrower has knowledge of any event or condition that constitutes a Default or an Event of Default,	  	(j) notice of such event or condition and a statement of the curative action that such Borrower proposes to take with respect thereto.
		
	promptly after the commencement thereof, but in any event within 5 days after the service of process with respect thereto on a Borrower or any of its Subsidiaries,	  	(k) notice of all actions, suits, or proceedings brought by or against such Borrower or any of its Subsidiaries before any Governmental Authority which reasonably could be expected to result in a Material Adverse Effect.
		
	upon the request of Agent,	  	(1) any other information reasonably requested relating to the financial condition of either Borrower or its respective Subsidiaries.

 Schedule 5.2 

Provide Agent (and if so requested by Agent, with copies for each Lender) with each of the documents set forth below at the following times in
form satisfactory to Agent: 
  

			
	 Weekly (for the first
 6 months after the
Closing Date)
	 	(a) an updated 13-week cash flow forecast, consistent with what was previously provided to Agent.
		
	Monthly (not later than the 15th day of each month)	 	(b) a detailed report regarding the Borrowers’ and their Subsidiaries’ cash and Cash Equivalents, including an indication of which accounts constitute Qualified Cash, and
		
	Quarterly (no later than the last day of the month of each fiscal Quarter)	 	 (a) a sales pipeline report by prospect including the probability of close for each prospect (and grouped by probability),

 
 (b) a backlog report detailing all contracts which have been executed but not yet
performed, and segmented by estimated period of recognition,
  
 (c) a bookings report
for the following (i) prior month by revenue type, and (ii) trailing twelve months by revenue type,
  

(d) a detailed list of Borrower’s customers including contract expiration dates and annualized recurring revenue contribution,

 
 (e) attrition data for the prior fiscal quarter consistent with what was previously
provided,
  
 (f) a report regarding each Borrower’s and their respective
Subsidiaries’ accrued, but unpaid taxes, including but not limited to a detailed report regarding deemed dividend tax liability, if applicable, and
  

(g) a summary report showing (i) all deferred revenues as set forth in each Borrower’s and their respective Subsidiaries’ balance sheet for the prior
month, (ii) the portion of such deferred revenues that will be earned during the next four fiscal quarters, and (iii) the portion of such deferred revenues that will be earned on or after the date one year following the date of such balance
sheet,

		
	Annually (no later than the last day of each fiscal year)	 	(a) a Perfection Certificate or a supplement to the Perfection Certificate,
		
	Upon request by Agent	 	Such other reports, including but not limited to a summary aging of the Borrower’s Accounts, and a summary aging, by vendor, of Borrower’s accounts payable, and any book overdrafts, and as to the Collateral or the
financial condition of the Borrowers and their Subsidiaries, as Agent may reasonably request.

  
 1 

 SCHEDULE 6.5 

Nature of Business 
 The business of developing,
providing and supporting a) prescription drug comparison and Medicare and/or Senior Market (defined as age 65 and over) health plan comparison technology solutions and enrollment services, and non-Medicare health plan comparison and enrollment
services, b) web-based prescription drug comparison and Medicare health plan comparison and enrollment services, c) exchanges for Medicare Part D, Medicare Advantage, and Medicare Supplemental, d) web-based health insurance marketplace, service and
administration technology and e) web-based solutions for automating benefit insurance lines of businesses.

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