Document:

Amended and Restated Security Agreement, amended and restated as of June 23,2009

 Exhibit 4.1(j) 

 
  

AMENDED AND RESTATED SECURITY AGREEMENT 

dated as of 

August 9, 2006 

amended and restated as of June 23, 2009 

among 
 NIELSEN
FINANCE LLC, 
 THE OTHER GRANTORS IDENTIFIED HEREIN 

and 
 CITIBANK,
N.A., 
 as Collateral Agent 
  

 

 TABLE OF CONTENTS 

 

					
	 	 	 	  	Page
	ARTICLE I Definitions	  	1
			
	 SECTION 1.01.
	 	Credit Agreement	  	1
	 SECTION 1.02.
	 	Other Defined Terms	  	2
	 SECTION 1.03.
	 	Amendment and Restatement	  	13
		
	ARTICLE II Pledge of Securities	  	14
			
	 SECTION 2.01.
	 	Pledge	  	14
	 SECTION 2.02.
	 	Delivery of the Pledged Collateral	  	15
	 SECTION 2.03.
	 	Representations, Warranties and Covenants	  	15
	 SECTION 2.04.
	 	Certification of Limited Liability Company and Limited Partnership Interests	  	16
	 SECTION 2.05.
	 	Registration in Nominee Name; Denominations	  	17
	 SECTION 2.06.
	 	Voting Rights; Dividends and Interest	  	17
		
	ARTICLE III Security Interests in Personal Property	  	19
			
	 SECTION 3.01.
	 	Security Interest	  	19
	 SECTION 3.02.
	 	Representations and Warranties	  	22
	 SECTION 3.03.
	 	Covenants	  	23
	 SECTION 3.04.
	 	Other Actions	  	24
		
	ARTICLE IV Remedies	  	25
			
	 SECTION 4.01.
	 	Remedies Upon Default	  	25
	 SECTION 4.02.
	 	Application of Proceeds	  	27
		
	 ARTICLE V Indemnity, Subrogation, Subordination and Certain Dutch Matters
	  	27
			
	 SECTION 5.01.
	 	Indemnity	  	27
	 SECTION 5.02.
	 	Contribution and Subrogation	  	28
	 SECTION 5.03.
	 	Subordination	  	28
	 SECTION 5.04.
	 	Certain Dutch Matters	  	28
		
	ARTICLE VI Miscellaneous	  	29
			
	 SECTION 6.01.
	 	Notices	  	29
	 SECTION 6.02.
	 	Waivers; Amendment	  	29
	 SECTION 6.03.
	 	Collateral Agent’s Fees and Expenses; Indemnification	  	30
	 SECTION 6.04.
	 	Successors and Assigns	  	30
	 SECTION 6.05.
	 	Survival of Agreement	  	30
	 SECTION 6.06.
	 	Counterparts; Effectiveness; Several Agreement	  	31
	 SECTION 6.07.
	 	Severability	  	31

  

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	 SECTION 6.08.
	 	Right of Set-Off	  	31
	 SECTION 6.09.
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	32
	 SECTION 6.10.
	 	WAIVER OF JURY TRIAL	  	32
	 SECTION 6.11.
	 	Headings	  	33
	 SECTION 6.12.
	 	Security Interest Absolute	  	33
	 SECTION 6.13.
	 	Termination or Release	  	33
	 SECTION 6.14.
	 	Additional Restricted Subsidiaries	  	34
	 SECTION 6.15.
	 	Collateral Agent Appointed Attorney-in-Fact	  	34
	 SECTION 6.16.
	 	General Authority of the Collateral Agent	  	35
	 SECTION 6.17.
	 	Miscellaneous.	  	36
	 SECTION 6.18.
	 	Subject to Intercreditor Agreement	  	36
	 SECTION 6.19.
	 	Permitted Debt Offering Obligations	  	36

 Schedules 

Schedule I Pledged Equity; Pledged Debt 

Exhibits 
 Exhibit I Form of Security
Agreement Supplement 
 Annexes 

Annex A Form of First Lien Secured Party Consent 
  

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 AMENDED AND RESTATED SECURITY AGREEMENT dated as of August 9, 2006 and
amended and restated as of June 23, 2009 among NIELSEN FINANCE LLC, the other Grantors identified herein and who become a party hereto from time to time and CITIBANK, N.A., as Collateral Agent for the First Lien Secured Parties (the
“Collateral Agent”). 
 Reference is made to (i) the Credit Agreement dated as of August 9, 2006, as
amended January 22, 2007, as further amended August 9, 2007 and as amended and restated as of June 23, 2009 (the “Credit Agreement”), among Nielsen Finance LLC, a Delaware limited liability company (together with its
successors and assigns, “Nielsen”), TNC (US) HOLDINGS INC. (formerly known as VNU, Inc.), a New York corporation (together with its successors and assigns, “TNC” and, together with Nielsen, the “U.S.
Borrowers”), Nielsen Holding and Finance B.V. (formerly known as VNU Holding and Finance B.V.), a private company organized under the laws of The Netherlands, having its corporate seat in Haarlem, The Netherlands (together with its
successors and assigns, the “Dutch Borrower” and, together with the U.S. Borrowers, the “Borrowers”), the Guarantors party thereto from time to time, the lenders and other parties thereto from time to time and
CITIBANK, N.A., as Collateral Agent and (ii) that certain $500,000,000 Senior Secured Loan Agreement dated as of June 8, 2009 between Nielsen, as Borrower, Goldman Sachs Lending Partners LLC, as administrative agent, and the
lenders party thereto from time to time, as amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements thereof and of the Loan Documents (the “Initial Permitted Debt Offering
Agreement”). The Lenders have agreed to extend credit to the Borrowers subject to the terms and conditions set forth in the Credit Agreement and the Initial Permitted Debt Offering Agreement, as applicable. The obligations of the Lenders to
extend such credit were conditioned upon, among other things, the execution and delivery of this Agreement (the “Original Security Agreement”). The Lenders have agreed to amend and restate the Credit Agreement to allow any Loan
Party to incur Permitted Debt Offering Obligations. The Guarantors are affiliates of the Borrowers, will derive substantial benefits from (i) the extension of credit to the Borrowers pursuant to the Credit Agreement and the amendment and
restatement thereof and (ii) the extension of credit under the Initial Permitted Debt Offering Agreement and future Permitted Debt Offering Agreements and are willing to execute and deliver this Agreement in order to induce the Lenders to
extend such credit and enter into such amendment and restatement and to induce the lenders under the Permitted Debt Offering Agreements to extend the loans thereunder. Accordingly, the parties hereto agree as follows: 

ARTICLE I  

Definitions 

SECTION 1.01. Credit Agreement. (a) All terms defined in the New York UCC (as defined herein) and not defined in this
Agreement have the meanings specified therein; the term “instrument” shall have the meaning specified in Article 9 of the New York UCC. 

(b) The rules of construction specified in Article I of the Credit Agreement also apply to this Agreement. 

 

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 SECTION 1.02. Other Defined Terms. As used in this Agreement, the following
terms have the meanings specified below: 
 “Account Debtor” means any Person who is or who may become
obligated to any Grantor under, with respect to or on account of an Account. 
 “Accounts” has the meaning
specified in Article 9 of the New York UCC; provided that such term shall not include accounts receivable sold pursuant to any Permitted Receivables Financing. 

“Administrative Agent” means Citibank, N.A., in its capacity as administrative agent under any of the Loan Documents, or
any successor administrative agent; it being understood that Citibank, N.A. may designate any of its Affiliates, including without limitation Citicorp International Limited, as administrative agent for a particular Alternative Currency (as defined
in the Credit Agreement) and that such Affiliate shall be considered an Administrative Agent for all purposes under the Credit Agreement, or if a determination needs to be made and the Credit Agreement is no longer outstanding, the Applicable
Authorized Representative (as defined in the Intercreditor Agreement). 
 “Affiliate” means, with respect to
any Person, (i) another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified, or (ii) if such Person is an investment fund, any other
investment fund the primary investment advisor to which is the primary investment advisor to such Person or an Affiliate thereof. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction
of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Agent-Related Persons” means the Collateral Agent, together with its respective Affiliates, and the officers,
directors, employees, agents and attorneys-in-fact of such Persons and Affiliates. 
 “Agreement” means this
Amended and Restated Security Agreement. 
 “Amendment Agreement” means the Amendment Agreement dated as of
June 16, 2009 among the Borrowers, the Administrative Agent and the Lenders and Guarantors party thereto. 

“Amendment Effective Date” has the meaning set forth in the Amendment Agreement. 

“Applicable First Lien Representative” shall mean the “Applicable Authorized Representative” as defined in the
Intercreditor Agreement. 
 “Article 9 Collateral” has the meaning assigned to such term in
Section 3.01(a). 
  

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 “Attorney Costs” means and includes all reasonable fees, expenses and
disbursements of any law firm or other external legal counsel. 
 “Attributable Indebtedness” means, on any
date, in respect of any Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP. 

“Authorized Representative” shall mean (i) the Administrative Agent with respect to the Credit Agreement,
(ii) Goldman Sachs Lending Partners LLC, with respect to the Initial Permitted Debt Offering Agreement and (iii) any duly authorized representative of any other First Lien Secured Parties under a Permitted Debt Offering Agreement
designated as “Authorized Representative” for any First Lien Secured Parties in a First Lien Secured Party Consent delivered to the Collateral Agent. 

“Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as capitalized
leases; provided that for all purposes hereunder the amount of obligations under any Capitalized Lease shall be the amount thereof accounted for as a liability in accordance with GAAP. 

“Claiming Party” has the meaning assigned to such term in Section 5.02. 

“Closing Date” means August 9, 2006. 

“Collateral” means the Article 9 Collateral and the Pledged Collateral. 

“Collateral Agent” has the meaning assigned to such term in the preliminary statement of this Agreement. 

“Collateral Documents” means, collectively, this Agreement, each of the Mortgages (as defined in the Credit Agreement),
collateral assignments, security agreements, pledge agreements, intellectual property security agreements or other similar agreements delivered to the Administrative Agent and the Lenders pursuant to Section 6.11 or Section 6.13 of the
Credit Agreement or the equivalent provision of any Permitted Debt Offering Agreement, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent for the benefit of the
First Lien Secured Parties. 
 “Company” means The Nielsen Company B.V. (formerly known as VNU Group B.V.), a
private company incorporated under the laws of The Netherlands, having its corporate seat in Haarlem, The Netherlands, together with its successors and assigns. 

“Contributing Party” has the meaning assigned to such term in Section 5.02. 

“Covenant Parties” means (i) each of NHF, VNU International, ACN, TNC, and the Borrowers and (ii) at the
Company’s sole discretion, upon written notice to the Administrative Agent, the Company and any Subsidiary of the Company as designated by the Company; provided that (i) immediately before and after such designation, no Default
shall have occurred and be continuing, (ii) immediately after giving effect to such designation, the Covenant Parties 
  

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shall be in compliance, on a Pro Forma Basis, with the covenants set forth in Section 7.11 of the Credit Agreement (it being understood that if no Test Period cited in Section 7.11 of
the Credit Agreement has passed, the covenants in Section 7.11 of the Credit Agreement for the first Test Period cited in such Section shall be satisfied as of the last four quarters ended and, as a condition precedent to the effectiveness of
any such designation, Nielsen shall deliver to the Administrative Agent a certificate setting forth in reasonable detail the calculations demonstrating such compliance) and (iii) once an entity is designated a Covenant Party it remains a
Covenant Party for the term of this Agreement. 
 “Credit Agreement” has the meaning assigned to such term in
the preliminary statement of this Agreement. 
 “Debtor Relief Laws” means the Bankruptcy Code of the United
States, the Dutch Bankruptcy Act (Faillissementswet) and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, faillissement, surseance
van betaling, onderbewindstelling, ontbinding, or similar debtor relief Laws of the United States, The Netherlands or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default. 
 “Disqualified Equity Interests” means any Equity
Interest which, 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,
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 (as defined in the Credit Agreement)), (b) is redeemable at the option of the holder thereof, 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 ninety-one (91) days after the latest Maturity Date (as defined in the Credit Agreement). 

“Domestic Subsidiary” means any Subsidiary that is organized under the Laws of the United States, any state thereof or
the District of Columbia. 
 “Equity Interests” means, with respect to any Person, all of the shares,
interests, rights, participations or other equivalents (however designated) of capital stock of (or other ownership or profit interests or units in) such Person and all of the warrants, options or other rights for the purchase, acquisition or
exchange from such Person of any of the foregoing (including through convertible securities). 
 “Event of
Default” shall mean an “Event of Default” under and as defined in the Credit Agreement, the Initial Permitted Debt Offering Agreement or any other Permitted Debt Offering Agreement. 

 

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 “Existing L/C Issuer” means each bank which issued Existing Letters of
Credit. 
 “Existing Letters of Credit” means all letters of credit outstanding on the Closing Date, as more
fully described on Schedule 1.01F to the Existing Credit Agreement. 
 “First Lien Obligations” shall mean
collectively, the Obligations, the Initial Permitted Debt Offering Obligations and the Permitted Debt Offering Obligations. 

“First Lien Secured Parties” shall mean collectively, (i) the Secured Parties, (ii) the Authorized
Representative under the Initial Permitted Debt Offering Agreement and the “Secured Parties” as defined therein and (iii) if any, the holders of Permitted Debt Offering Obligations and any Authorized Representative with respect
thereto. 
 “First Lien Secured Party Consent” shall mean a consent in the form of Annex A to this Agreement
executed by the Authorized Representative of any holders of Permitted Debt Offering Obligations pursuant to Section 6.19. 

“Foreign Subsidiary” means any direct or indirect Restricted Subsidiary of the Company which is not a Domestic
Subsidiary. 
 “GAAP” means generally accepted accounting principles based upon International Financial
Reporting Standards issued and/or adopted by the International Accounting Standards Board, as in effect from time to time, unless and until Nielsen notifies the Administrative Agent in writing that Nielsen requests that GAAP be determined based on
generally accepted accounting principles in the United States of America, as in effect from time to time, from which time GAAP will be so determined; provided, however, that if Nielsen notifies the Administrative Agent that Nielsen requests
an amendment to any provision hereof to eliminate the effect of any change occurring after the Closing Date in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies Nielsen that the Required
Lenders (as defined in the Credit Agreement) request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall
be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. 

“General Intangibles” has the meaning specified in Article 9 of the New York UCC, and shall include corporate or other
business records, indemnification claims, contract rights (including rights under leases, whether entered into as lessor or lessee, Swap Contracts and other agreements), goodwill, registrations, franchises, tax refund claims and any letter of
credit, guarantee, claim, security interest or other security held by or granted to any Grantor, as the case may be, to secure payment by an Account Debtor of any of the Accounts; provided that such term shall not include any intellectual property
and related assets subject to the Intellectual Property Security Agreement between certain of the Grantors and the Collateral Agent dated the date hereof. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency,
authority, instrumentality, regulatory body, court, administrative tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government.

  

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 “Grantor” means each of the U.S. Borrower, each Guarantor that is a party
hereto, and each Guarantor that is a Domestic Subsidiary that becomes a party to this Agreement after the Closing Date; provided, that notwithstanding anything to the contrary in this Agreement, (i) the Third Party Pledgor is a party to
this Agreement and a Grantor hereunder solely for the purpose of granting a security interest in the Equity Interests of TNC (US) Holdings Inc. (formerly known as VNU, Inc.) and ACN Holdings, Inc. (and shall not be deemed a “Grantor” for
purposes of Article III hereunder other than with respect to items described in clause (xi) thereof with respect to such Equity Interests), (ii) the grant of a security interest by the Third Party Pledgor pursuant to this Agreement shall
extend only to the Pledged Equity and items described in clause (xi) of Article III hereunder with respect to such Equity Interests of VNU, Inc. and ACN Holdings, Inc., as the case may be, and shall not extend to, and the Collateral pledged by
the Third Party Pledgor shall not include, any other assets directly owned by such Third Party Pledgor, and (iii) the Third Party Pledgor shall not be subject to any representations, warranties or covenants contained herein, except to the
extent directly applicable to such Pledged Equity. 
 “Guarantees” means the “Guarantees” as the
defined in the Credit Agreement, the Initial Permitted Debt Offering Agreement or any Permitted Debt Offering Agreement. 

“Guarantors” means the Company, VNU Intermediate Holding B.V. and the Subsidiaries included on the signature pages to
the Existing Credit Agreement as Guarantors and those Subsidiaries that issue a Guarantee of the Obligations after the Closing Date pursuant to Section 6.11 of the Credit Agreement and under each Permitted Debt Offering Agreement and, with
respect to Obligations for which they would not otherwise be primarily liable, each U.S. Borrower and the Dutch Borrower. 

“Hedge Bank” means any Person that is a Lender or an Affiliate of a Lender at the time it enters into a Secured Hedge
Agreement or a Treasury Services Agreement, as applicable, in its capacity as a party thereto, and (other than a Person already party hereto as a Lender) delivers to the Administrative Agent a letter agreement reasonably satisfactory to it
(i) appointing the Collateral Agent as its agent under the applicable Loan Documents and (ii) agreeing to be bound by Section 9.07 and 10.15 of the Credit Agreement as if it were a Lender. 

“Indebtedness” means, as to any Person at a particular time, without duplication, all of the following: 

(a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures,
notes, loan agreements or other similar instruments; 
 (b) the maximum amount (after giving effect to any prior
drawings or reductions which may have been reimbursed) of all outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds, performance bonds and similar instruments issued or created by
or for the account of such Person; 
  

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 (c) net obligations of such Person under any Swap Contract; 

(d) all obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade
accounts payable in the ordinary course of business, (ii) any earn-out obligation until such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP and (iii) liabilities accrued in the ordinary course);

 (e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased
by such Person (including indebtedness arising under conditional sales or other title retention agreements and mortgage, industrial revenue bond, industrial development bond and similar financings), whether or not such indebtedness shall have been
assumed by such Person or is limited in recourse; 
 (f) all Attributable Indebtedness; and 

(g) all obligations of such Person in respect of Disqualified Equity Interests; 

if and to the extent that the foregoing would constitute indebtedness or a liability in accordance with GAAP; and 

(h) to the extent not otherwise included above, all Guarantees (as defined in the Credit Agreement) of such Person in
respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall (A) include (1) the
Indebtedness of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which such Person is a general partner, except to the extent such Person’s liability for such
Indebtedness is otherwise limited and (2) the amount of any Receivables Net Investment and (B) in the case of the Company and its Subsidiaries, exclude (1) all intercompany Indebtedness having a term not exceeding 364 days (inclusive
of any roll-over or extensions of terms) and made in the ordinary course of business consistent with past practice and (2) the Parent Intercompany Debt. The amount of any net obligation under any Swap Contract on any date shall be deemed to be
the Swap Termination Value thereof as of such date. The amount of Indebtedness of any Person for purposes of clause (e) shall be deemed to be equal to the lesser of (i) the aggregate unpaid amount of such Indebtedness and (ii) the
fair market value of the property encumbered thereby as determined by such Person in good faith. 

“Indemnitee” shall have the meaning assigned to such term in Section 6.03(b). 

“Initial Permitted Debt Offering Obligations” shall mean all “Loan Obligations” as defined in the Initial
Permitted Debt Offering Agreement and the Guarantees (as defined in the Initial Permitted Debt Offering Agreement) in respect thereof. 

“Intercreditor Agreement” shall mean the First Lien Intercreditor Agreement, dated as of June 23, 2009 among the
Collateral Agent and each Authorized Representative from time to time. 
  

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 “Laws” means, collectively, all international, foreign, Federal, state and
local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement,
interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of
law. 
 “L/C Issuer” means Citibank, N.A., the Existing L/C Issuer, and any other Lender that becomes an L/C
Issuer in accordance with Section 2.03(k) or 10.07(j) of the Credit Agreement, in each case, in its capacity as an issuer of Letters of Credit under the Credit Agreement, or any successor issuer of Letters of Credit under the Credit Agreement.

 “L/C Obligations” means, as at any date of determination, the aggregate undrawn amount of all outstanding
Letters of Credit plus the aggregate of all Unreimbursed Amounts (as defined in the Credit Agreement), including all L/C Borrowings (as defined in the Credit Agreement). 

“Lenders” means each Lender under, and as defined in, the Credit Agreement. 

“Letter of Credit” means any letter of credit issued hereunder. A Letter of Credit may be a commercial letter of credit
or a standby letter of credit. 
 “Letter of Credit Application” means an application and agreement for the
issuance or amendment of any Letter of Credit issued under the Credit Agreement. 
 “Lien” means any mortgage,
pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale
or other title retention agreement, any easement, right of way or other encumbrance on title to Real Property, and any Capitalized Lease having substantially the same economic effect as any of the foregoing). 

“Loan Documents” means, collectively, (i) the Credit Agreement, (ii) the Notes (as defined in the Credit
Agreement), (iii) the Collateral Documents and (iv) each Letter of Credit Application. 
 “Loan
Parties” means, collectively, the Borrowers and each Guarantor. 
 “Material Adverse Effect” means a
material adverse effect on the business, operations, assets, liabilities (actual or contingent) or financial condition of the Company and its Subsidiaries, taken as a whole. 

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

 

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 “NHF” means Nielsen Holding and Finance B.V. (formerly known as VNU Holding
and Finance B.V.), a private company organized under the laws of The Netherlands, having its corporate seat in Haarlem, The Netherlands. 

“Nielsen” has the meaning set forth in the introductory paragraph to this Agreement. 

“Obligations” means all (x) advances to, and debts, liabilities, obligations, covenants and duties of, any Loan
Party and its Subsidiaries arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or
hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or Subsidiary of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether
such interest and fees are allowed claims in such proceeding and (y) obligations of any Loan Party arising under any Secured Hedge Agreement or any Treasury Services Agreement. Without limiting the generality of the foregoing, the Obligations
of the Loan Parties under the Loan Documents (and of their Subsidiaries to the extent they have obligations under the Loan Documents) include (a) the obligation (including guarantee obligations) to pay principal, interest, Letter of Credit
fees, reimbursement obligations, charges, expenses, fees, Attorney Costs, indemnities and other amounts payable by any Loan Party or Subsidiary under any Loan Document and (b) the obligation of any Loan Party or Subsidiary to reimburse any
amount in respect of any of the foregoing that any Lender, in its sole discretion, may elect to pay or advance on behalf of such Loan Party or such Subsidiary. 

“Original Security Agreement” has the meaning assigned to such term in the preliminary statement of this Agreement.

 “Perfection Certificate” means a certificate in the form of Exhibit G-1 to the Existing Credit Agreement or
any other form approved by the Collateral Agent, as the same shall be supplemented from time to time by a Perfection Certificate Supplement or otherwise. 

“Perfection Certificate Supplement” means a certificate supplement in the form of Exhibit G-2 to the Existing Credit
Agreement or any other form approved by the Collateral Agent. 
 “Permitted Acquisition” has the meaning set
forth in Section 7.02(i) of the Credit Agreement. 
 “Permitted Debt Offering Agreement” shall mean
(i) the Initial Permitted Debt Offering Agreement and (ii) any other indenture, credit agreement or other agreement, if any, pursuant to which any Grantor has or will incur Permitted Debt Offering Obligations; provided that, in each case
(except in the case of the Initial Permitted Debt Offering Obligations), the Indebtedness thereunder has been designated as Permitted Debt Offering Obligations pursuant to and in accordance with Section 6.19. 

“Permitted Debt Offering Obligations” shall mean all advances to, and debts, liabilities, obligations, covenants and
duties of, any Loan Party and its Subsidiaries arising under 
  

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any Permitted Debt Offering Agreement, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and
including interest and fees that accrue after the commencement by or against any Loan Party or Subsidiary of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and
fees are allowed claims in such proceeding, that have been designated as Permitted Debt Offering Obligations pursuant to and in accordance with Section 6.19. Without limiting the generality of the foregoing, the Permitted Debt Offering
Obligations of the Loan Parties under the Permitted Debt Offering Agreements (and of their Subsidiaries to the extent they have obligations under the Permitted Debt Offering Agreements) include (a) the obligation (including guarantee
obligations) to pay principal, interest, letter of credit fees, reimbursement obligations, charges, expenses, fees, attorney costs, indemnities and other amounts payable by any Loan Party or Subsidiary under any Permitted Debt Offering Agreement and
(b) the obligation of any Loan Party or Subsidiary to reimburse any amount in respect of any of the foregoing that any lender, in its sole discretion, may elect to pay or advance on behalf of such Loan Party or such Subsidiary. 

“Permitted Receivables Documents” shall mean all documents and agreements evidencing, relating to or otherwise governing
a Permitted Receivables Financing. 
 “Permitted Receivables Financing” shall mean one or more transactions
pursuant to which (i) Receivables Assets or interests therein are sold to or financed by one or more Special Purpose Receivables Subsidiaries, and (ii) such Special Purpose Receivables Subsidiaries finance their acquisition of such
Receivables Assets or interests therein, or the financing thereof, by selling or borrowing against such Receivables Assets; provided that (A) recourse to the Loan Parties or any Subsidiary (other than the Special Purpose Receivables
Subsidiaries) and any obligations or agreements of the Loan Parties or any Subsidiary (other than the Special Purpose Receivables Subsidiaries) in connection with such transactions shall be limited to the extent customary for similar transactions in
the applicable jurisdictions (including, to the extent applicable, in a manner consistent with the delivery of a “true sale/absolute transfer” opinion with respect to any transfer by the Loan Parties or any Subsidiary (other than a Special
Purpose Receivables Subsidiary)), and (B) the aggregate Receivables Net Investment since the Closing Date shall not exceed $100,000,000 at any time. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Pledged Collateral” has the meaning assigned to such
term in Section 2.01. 
 “Pledged Debt” has the meaning assigned to such term in Section 2.01.

 “Pledged Equity” has the meaning assigned to such term in Section 2.01. 

“Pledged Securities” means any promissory notes, stock certificates or other securities now or hereafter included in the
Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 
  

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 “Pro Forma Basis” has the meaning assigned to such term in the Credit
Agreement. 
 “Proceeds” has the meaning specified in Section 9-102 of the New York UCC. 

“Prohibition” has the meaning assigned to such term in Section 5.04. 

“Real Property” means, collectively, all right, title and interest (including any leasehold, mineral or other estate) in
and to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto, all
improvements and appurtenant fixtures and equipment, all general intangibles and contract rights and other property and rights incidental to the ownership, lease or operation thereof. 

“Receivables Assets” shall mean accounts receivable (including any bills of exchange) and related assets and property
from time to time originated, acquired or otherwise owned by any Covenant Party or any Subsidiary. 
 “Receivables Net
Investment” shall mean the aggregate cash amount paid by the lenders or purchasers under any Permitted Receivables Financing in connection with their purchase of, or the making of loans secured by, Receivables Assets or interests therein,
as the same may be reduced from time to time by collections with respect to such Receivables Assets or otherwise in accordance with the terms of the Permitted Receivables Documents (but excluding any such collections used to make payments of items
included in clause (c) of the definition of Consolidated Interest Expense in the Credit Agreement); provided, however, that if all or any part of such Receivables Net Investment shall have been reduced by application of any distribution
and thereafter such distribution is rescinded or must otherwise be returned for any reason, such Receivables Net Investment shall be increased by the amount of such distribution, all as though such distribution had not been made. 

“Responsible Officer” means the chief executive officer, president, vice president, chief financial officer, treasurer
or assistant treasurer or other similar officer of a Loan Party (including, in the case of a Loan Party organized under the laws of The Netherlands, the authorized number of managing directors or an attorney under a power of attorney of such Loan
Party) and, as to any document delivered on the Closing Date, any secretary or assistant secretary of such Loan Party. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have
been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“Restricted Subsidiary” means any Subsidiary of a Covenant Party other than an Unrestricted Subsidiary. 

“Rule 3-16” has the meaning assigned to such term in Section 3.01(d). 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
  

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 “Secured Hedge Agreement” means any Swap Contract permitted under Article
VII of the Credit Agreement that is entered into by and between any Borrower or any Loan Party and any Hedge Bank. 

“Secured Parties” means, collectively, the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Banks, the
Supplemental Agents and each co-agent or sub-agent appointed by the Administrative Agent or Collateral Agent from time to time pursuant to Section 9.02 of the Credit Agreement. 

“Security Agreement Supplement” means an instrument in the form of Exhibit I hereto. 

“Security Interest” has the meaning assigned to such term in Section 3.01(a). 

“Special Purpose Receivables Subsidiary” shall mean a direct or indirect Subsidiary of a Covenant Party established in
connection with a Permitted Receivables Financing for the acquisition of Receivables Assets or interests therein, and which is organized in a manner intended to reduce the likelihood that it would be substantively consolidated with any Covenant
Party or any of the Subsidiaries (other than Special Purpose Receivables Subsidiaries) in the event such Covenant Party or any such Subsidiary becomes subject to a proceeding under a Debtor Relief Law. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity of which (i) a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the
happening of a contingency) are at the time beneficially owned, (ii) more than half of the issued share capital is at the time beneficially owned or (iii) the management of which is otherwise controlled, directly or indirectly, through one
or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of NHF. 

“Supplemental Agent” has the meaning specified in Section 9.13(a) of the Credit Agreement and “Supplemental
Agents” shall have the corresponding meaning. 
 “Swap Contract” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or
forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to
any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and
Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any 
  

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other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master
Agreement. 
 “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into
account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such
termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available
quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 

“Test Period” has the meaning assigned to such term in the Credit Agreement. 

“Third Party Pledgor” means VNU International B.V., a private company organized under the laws of The Netherlands,
having its corporate seat in Haarlem, The Netherlands. 
 “Treasury Services Agreement” means any agreement
between any Loan Party and any Hedge Bank relating to treasury, depository, and cash management services or automated clearinghouse transfer of funds. 

“Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as the same may from time to time
be in effect in the State of New York or the Uniform Commercial Code (or similar code or statute) of another jurisdiction, to the extent it may be required to apply to any item or items of Collateral. 

“Unrestricted Subsidiary” means (i) each Subsidiary of a Covenant Party listed on Schedule 1.01B to the Existing
Credit Agreement as of the Closing Date (in the case of each of NetRatings, Inc. and BuzzMetrics, Inc., from the Closing Date through the date on which they were redesignated as Restricted Subsidiaries) and (ii) any Subsidiary of a Covenant
Party designated by the board of directors of Nielsen as an Unrestricted Subsidiary pursuant to Section 6.14 of the Credit Agreement and each applicable Permitted Debt Offering Agreement subsequent to the Closing Date. 

“U.S. Borrower” has the meaning assigned to such term in the preliminary statement of this Agreement. 

SECTION 1.03. Amendment and Restatement. This Agreement amends and restates the Original Security Agreement. The Obligations of
the Grantors under the Original Security Agreement and the grant of security interest in the Collateral by the Grantors under the Original Security Agreement shall continue under this Agreement, and shall not in any event be terminated, extinguished
or annulled, but shall hereafter be governed by this Agreement. All references to the Original Security Agreement in any Loan Document (other than this Agreement) or other document or instrument delivered in connection therewith shall be deemed to
refer to this Agreement and the provisions hereof. It is understood and agreed that the Original Security Agreement is being amended and restated by entry into this Agreement on the date hereof. 

 

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 ARTICLE II 

Pledge of Securities 

SECTION 2.01. Pledge. As security for the payment or performance, as the case may be, in full of the First Lien Obligations,
including the Guarantees, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the benefit of the First Lien Secured Parties, and hereby grants to the Collateral Agent, its successors and assigns, for the
benefit of the First Lien Secured Parties and confirms its continuing prior grant to the Collateral Agent for the benefit of the Secured Parties of, a security interest in, all of such Grantor’s right, title and interest in, to and under
(i) all Equity Interests held by it and listed on Schedule I and any other Equity Interests obtained in the future by such Grantor and the certificates representing all such Equity Interests (the “Pledged Equity”);
provided that the Pledged Equity shall not include (A) more than 65% of the issued and outstanding voting Equity Interests of any Foreign Subsidiary of a Domestic Subsidiary, (B) Equity Interests of any Subsidiary of a Foreign
Subsidiary, (C) Equity Interests of any Subsidiary acquired pursuant to a Permitted Acquisition financed with Indebtedness incurred pursuant to Section 7.03(t) of the Credit Agreement if and so long as the terms of such Indebtedness
prohibit the creation of a Lien in favor of the Collateral Agent for the benefit of the First Lien Secured Parties on such Equity Interests, (D) Equity Interests of any Person that is not a direct or indirect, wholly owned Subsidiary of
Nielsen, to the extent such pledge is prohibited by law or contract, (E) Equity Interests of any Subsidiary with respect to which the Administrative Agent determines (with an acknowledgement to the U.S. Borrower) that the costs or other
consequences (including adverse tax consequences) of providing a pledge of its Equity Interests is excessive in view of the benefits to be obtained by the Lenders, (F) any Equity Interests to the extent that, as of the Closing Date, and for so
long as, such a pledge of such Equity Interests would violate law, or, with respect to Equity Interests of a Foreign Subsidiary, a contractual obligation binding on or relating to such Equity Interests, and (G) any Equity Interests held by the
Third Party Pledgor at any time other than Equity Interests in TNC (US) Holdings, Inc. and ACN Holdings, Inc., (ii) (A) the debt securities owned by it and listed opposite the name of such Grantor on Schedule I, (B) any debt
securities obtained in the future by such Grantor and (C) the promissory notes and any other instruments evidencing such debt securities (the “Pledged Debt”); (iii) all other property that may be delivered to and held by
the Collateral Agent pursuant to the terms of this Section 2.01; (iv) subject to Section 2.06, all payments of principal or interest, dividends, cash, instruments and other property from time to time received, receivable or otherwise
distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the securities referred to in clauses (i) and (ii) above; (v) subject to Section 2.06, all rights and privileges
of such Grantor with respect to the securities and other property referred to in clauses (i), (ii), (iii) and (iv) above; and (vi) all Proceeds of any of the foregoing (the items referred to in clauses (i)
through (vi) above being collectively referred to as the “Pledged Collateral”). 
 TO HAVE AND TO HOLD the
Pledged Collateral, together with all right, title, interest, powers, privileges and preferences pertaining or incidental thereto, unto the Collateral Agent, its successors and assigns, for the benefit of the First Lien Secured Parties, forever;
subject, however, to the terms, covenants and conditions hereinafter set forth. 
  

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 SECTION 2.02. Delivery of the Pledged Collateral. (a) Each Grantor agrees
promptly to deliver or cause to be delivered to the Collateral Agent, for the benefit of the First Lien Secured Parties, any and all Pledged Securities (other than any uncertificated securities, but only for so long as such securities remain
uncertificated) to the extent such Pledged Securities, in the case of promissory notes or other instruments evidencing Indebtedness, are required to be delivered pursuant to paragraph (b) of this Section 2.02. 

(b) Each Grantor will cause any Indebtedness for borrowed money having an aggregate principal amount in excess of $10,000,000 owed to
such Grantor by any Person to be evidenced by a duly executed promissory note that is pledged and delivered to the Collateral Agent, for the benefit of the First Lien Secured Parties, pursuant to the terms hereof. 

(c) Upon delivery to the Collateral Agent, (i) any Pledged Securities shall be accompanied by stock powers duly executed in blank or
other instruments of transfer reasonably satisfactory to the Collateral Agent and by such other instruments and documents as the Collateral Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral shall
be accompanied by proper instruments of assignment duly executed by the applicable Grantor and such other instruments or documents as the Collateral Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a schedule
describing the securities, which schedule shall be attached hereto as Schedule I and made a part hereof; provided that failure to attach any such schedule hereto shall not affect the validity of such pledge of such Pledged Securities. Each
schedule so delivered shall supplement any prior schedules so delivered. 
 SECTION 2.03. Representations, Warranties and
Covenants. The U.S. Borrower represents and warrants, as to itself and the other Grantors, to and with the Collateral Agent, for the benefit of the First Lien Secured Parties, that: 

(a) Schedule I correctly sets forth the percentage of the issued and outstanding units of each class of the Equity
Interests of the issuer thereof represented by the Pledged Equity and includes all material Equity Interests, debt securities and promissory notes required to be pledged hereunder pursuant to the Credit Agreement and each Permitted Debt Offering
Agreement; 
 (b) the Pledged Equity and Pledged Debt (solely with respect to Pledged Equity and Pledged Debt
issued by a Person other than VNUHF or a Subsidiary of VNUHF, to the best of the U.S. Borrower’s knowledge) have been duly and validly authorized and issued by the issuers thereof and (i) in the case of Pledged Equity, are fully paid and
nonassessable and (ii) in the case of Pledged Debt (solely with respect to Pledged Debt issued by a Person other than VNUHF or a Subsidiary of VNUHF, to the best of the U.S. Borrower’s knowledge), are legal, valid and binding obligations
of the issuers thereof; 
 (c) except for the security interests granted hereunder, each of the Grantors
(i) is and, subject to any transfers made in compliance with the Credit Agreement and 
  

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each Permitted Debt Offering Agreement, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule I as owned by such Grantors,
(ii) holds the same free and clear of all Liens, other than (A) Liens created by the Collateral Documents and (B) Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement and expressly permitted pursuant to each
Permitted Debt Offering Agreement, (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Collateral, other than (A) Liens created by the
Collateral Documents and (B) Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement and expressly permitted pursuant to each Permitted Debt Offering Agreement, and (iv) will defend its title or interest thereto or
therein against any and all Liens (other than the Liens permitted pursuant to this Section 2.03(c)), however arising, of all Persons whomsoever; 

(d) except for restrictions and limitations imposed by the Loan Documents or securities laws generally or laws, rules or
regulations governing the pledge of Equity Interests of Foreign Subsidiaries, the Pledged Collateral is and will continue to be freely transferable and assignable, and none of the Pledged Collateral is or will be subject to any option, right of
first refusal, shareholders agreement, charter or by-law provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect in any manner material and adverse to the First Lien Secured Parties the pledge of
such Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Collateral Agent of rights and remedies hereunder; 

(e) each of the Grantors has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the
manner hereby done or contemplated; 
 (f) no consent or approval of any Governmental Authority, any securities
exchange or any other Person was or is necessary to the validity of the pledge effected hereby (other than such as have been obtained and are in full force and effect and other than with respect to any laws, rules or regulations governing the pledge
of Equity Interests of Foreign Subsidiaries); 
 (g) by virtue of the execution and delivery by the Grantors of
this Agreement, when any Pledged Securities (other than Equity Interests of any Foreign Subsidiary) are delivered to the Collateral Agent in accordance with this Agreement, the Collateral Agent will obtain a legal, valid and perfected lien upon and
security interest in such Pledged Securities as security for the payment and performance of the First Lien Obligations; and 

(h) the pledge effected hereby is effective to vest in the Collateral Agent, for the benefit of the First Lien Secured
Parties, the rights of the Collateral Agent in the Pledged Collateral as set forth herein. 
 SECTION 2.04. Certification of
Limited Liability Company and Limited Partnership Interests. (a) Each interest in any limited liability company or limited partnership controlled by any Grantor, pledged under Section 2.01 and represented by a certificate, shall be a
“security” within the meaning of Article 8 of the New York UCC and shall be governed by Article 8 of the New York UCC, and each such interest shall at all times hereafter be represented by a certificate. 

 

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 (b) Each interest in any limited liability company or limited partnership controlled by any
Grantor, pledged under Section 2.01 and not represented by a certificate shall not be a “security” within the meaning of Article 8 of the New York UCC and shall not be governed by Article 8 of the New York UCC, and the Grantors
shall at no time elect to treat any such interest as a “security” within the meaning of Article 8 of the New York UCC or issue any certificate representing such interest, unless the applicable Grantor provides prior written
notification to the Administrative Agent of such election and immediately delivers any such certificate to the Administrative Agent pursuant to the terms hereof. 

SECTION 2.05. Registration in Nominee Name; Denominations. If an Event of Default shall occur and be continuing and the Collateral
Agent shall give the U.S. Borrower notice of its intent to exercise such rights, (a) the Collateral Agent, on behalf of the First Lien Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in
its own name as pledgee, the name of its nominee (as pledgee or as sub-agent) or the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Collateral Agent and each Grantor will promptly give to the Collateral Agent copies
of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor and (b) the Collateral Agent shall have the right to exchange the certificates representing Pledged Securities for
certificates of smaller or larger denominations for any purpose consistent with this Agreement. 
 SECTION 2.06. Voting
Rights; Dividends and Interest. (a) Unless and until an Event of Default shall have occurred and be continuing and the Collateral Agent shall have notified the U.S. Borrower that the rights of the Grantors under this Section 2.06 are
being suspended: 
 (i) Each Grantor shall be entitled to exercise any and all voting and/or other consensual
rights and powers inuring to an owner of Pledged Securities or any part thereof for any purpose consistent with the terms of this Agreement, the Credit Agreement, the other Loan Documents and each Permitted Debt Offering Agreement; provided
that such rights and powers shall not be exercised in any manner that could materially and adversely affect the rights inuring to a holder of any Pledged Securities or the rights and remedies of any of the Collateral Agent or the other First Lien
Secured Parties under this Agreement, the Credit Agreement, any other Loan Document or any Permitted Debt Offering Agreement or the ability of the First Lien Secured Parties to exercise the same. 

(ii) The Collateral Agent shall execute and deliver to each Grantor, or cause to be executed and delivered to such
Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or consensual rights and powers it is entitled to exercise pursuant to
subparagraph (i) above. 
 (iii) Each Grantor shall be entitled to receive and retain any and all dividends,
interest, principal and other distributions paid on or distributed in respect of the Pledged 
  

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Securities to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by, and otherwise paid or distributed in accordance with, the terms
and conditions of the Credit Agreement, the other Loan Documents, each Permitted Debt Offering Agreement and applicable Laws; provided that any noncash dividends, interest, principal or other distributions that would constitute Pledged Equity
or Pledged Debt, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption
thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and, if received by any Grantor, shall not be
commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Collateral Agent and the First Lien Secured Parties and shall be forthwith delivered to
the Collateral Agent in the same form as so received (with any necessary endorsement reasonably requested by the Collateral Agent). 

(b) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified the U.S.
Borrower of the suspension of the rights of the Grantors under paragraph (a)(iii) of this Section 2.06, then all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to receive pursuant
to paragraph (a)(iii) of this Section 2.06 shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall have the sole and exclusive right and authority to receive and retain such dividends, interest,
principal or other distributions. All dividends, interest, principal or other distributions received by any Grantor contrary to the provisions of this Section 2.06 shall be held in trust for the benefit of the Collateral Agent, shall be
segregated from other property or funds of such Grantor and shall be forthwith delivered to the Collateral Agent upon demand in the same form as so received (with any necessary endorsement reasonably requested by the Collateral Agent). Any and all
money and other property paid over to or received by the Collateral Agent pursuant to the provisions of this paragraph (b) shall be retained by the Collateral Agent in an account to be established by the Collateral Agent upon receipt of such
money or other property and shall be applied in accordance with the provisions of Section 4.02. After all Events of Default have been cured or waived, the Collateral Agent shall promptly repay to each Grantor (without interest) all dividends,
interest, principal or other distributions that such Grantor would otherwise be permitted to retain pursuant to the terms of paragraph (a)(iii) of this Section 2.06 and that remain in such account. 

(c) Upon the occurrence and during the continuance of an Event of Default, after the Collateral Agent shall have notified the U.S.
Borrower of the suspension of the rights of the Grantors under paragraph (a)(i) of this Section 2.06, then all rights of any Grantor to exercise the voting and consensual rights and powers it is entitled to exercise pursuant to
paragraph (a)(i) of this Section 2.06, and the obligations of the Collateral Agent under paragraph (a)(ii) of this Section 2.06, shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall
have the sole and exclusive right and authority to exercise such voting and consensual rights and powers; provided that, unless otherwise directed by the Required Lenders under the Credit Agreement or the then Applicable First Lien
Representative, the Collateral Agent shall have the right from time to time following and during the continuance of an Event of 

 

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Default to permit the Grantors to exercise such rights. After all Events of Default have been cured or waived, each Grantor shall have the exclusive right to exercise the voting and/or consensual
rights and powers that such Grantor would otherwise be entitled to exercise pursuant to the terms of paragraph (a)(i) above. 

(d) Any notice given by the Collateral Agent to the U.S. Borrower suspending the rights of the Grantors under paragraph (a) of this
Section 2.06 (i) shall be given in writing, (ii) may be given with respect to one or more of the Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph (a)(i) or paragraph
(a)(iii) in part without suspending all such rights (as specified by the Collateral Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Collateral Agent’s rights to give additional notices from time to time
suspending other rights so long as an Event of Default has occurred and is continuing. 
 ARTICLE III  

Security Interests in Personal Property 

SECTION 3.01. Security Interest. (a) As security for the payment or performance, as the case may be, in full of the First
Lien Obligations, including the Guarantees, each Grantor hereby assigns and pledges to the Collateral Agent, its successors and assigns, for the benefit of the First Lien Secured Parties, and hereby grants to the Collateral Agent, its successors and
assigns, for the benefit of the First Lien Secured Parties, and confirms its continuing prior grant to the Collateral Agent for the benefit of the Secured Parties of, a security interest (the “Security Interest”) in, all right,
title or interest in or to any and all of the following assets and properties now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest
(collectively, the “Article 9 Collateral”): 
 (i) all Accounts; 

(ii) all Chattel Paper; 

(iii) all Documents; 

(iv) all Equipment; 

(v) all General Intangibles; 

(vi) all Instruments; 

(vii) all Inventory; 

(viii) all Investment Property; 

(ix) all books and records pertaining to the Article 9 Collateral; 

(x) all Money and Deposit Accounts; and 

 

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 (xi) to the extent not otherwise included, all Proceeds and products of any
and all of the foregoing and all Supporting Obligations, collateral security and guarantees given by any Person with respect to any of the foregoing; 

provided, that notwithstanding anything to the contrary in this Agreement, this Agreement shall not constitute a grant of a security interest in
(and the term “Collateral” shall not include) (A) any vehicle covered by a certificate of title or ownership, (B) any Equity Interest excluded from the pledge made pursuant to Article II hereunder pursuant to clauses
(A) through (G) of Section 2.01, (C) any asset with respect to which the Administrative Agent determines (with an acknowledgement to the U.S. Borrower) that the costs or other consequences (including adverse tax consequences) of
providing a security interest in such asset is excessive in view of the benefits to be obtained by the Lenders, (D) any Equipment owned by any Grantor that is subject to a purchase money lien or a Capitalized Lease permitted by the Credit
Agreement if the contract or other agreement in which such Encumbrance is granted (or the documentation providing for such Capitalized Lease) prohibits or requires the consent of any person other than the U.S. Borrower or any Subsidiary as a
condition to the creation of any other security interest on such Equipment, (E) any assets with respect to which a security interest is not required to be granted under Section 6.11 of the Credit Agreement by reason of the second sentence
of Section 6.11(b) or of Section 6.11(d) of the Credit Agreement or (F) any General Intangible, Investment Property or rights of a Grantor arising under any contract, lease, instrument, license or other document if (but only to the
extent that) the grant of a security interest therein would (x) constitute a violation of a valid and enforceable restriction in respect of such General Intangible, Investment Property or other such rights in favor of a third party or under any
law, regulation, permit, order or decree of any Governmental Authority, unless and until all required consents shall have been obtained (for the avoidance of doubt, the restrictions described herein shall not include negative pledges or similar
undertakings in favor of a lender or other financial counterparty) or (y) expressly give any other party in respect of any such contract, lease, instrument, license or other document, the right to terminate its obligations thereunder,
provided, however, that the limitation set forth in clause (F) above shall not affect, limit, restrict or impair the grant by a Grantor of a security interest pursuant to this Agreement in any such Collateral to the extent that an
otherwise applicable prohibition or restriction on such grant is rendered ineffective by any applicable law, including the UCC. Each Grantor shall, if requested to do so by the Administrative Agent, the Collateral Agent or any Applicable First Lien
Representative, use commercially reasonable efforts to obtain any such required consent that is reasonably obtainable with respect to Collateral which the Administrative Agent or the Collateral Agent or the Applicable First Lien Representative
reasonably determines to be material. 
 (b) Each Grantor hereby irrevocably authorizes the Collateral Agent for the benefit of
the First Lien Secured Parties at any time and from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings) with respect to the Article 9 Collateral or any part thereof and amendments
thereto that (i) indicate the Collateral as all assets of such Grantor or words of similar effect as being of an equal or lesser scope or with greater detail, and (ii) contain the information required by Article 9 of the Uniform Commercial
Code or the analogous legislation of each applicable jurisdiction for the filing of any financing statement or amendment, including (A) whether such Grantor is an organization, the type of organization and any organizational identification
number issued to such Grantor and (B) in the 
  

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case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Article 9 Collateral relates. Each Grantor agrees to provide such
information to the Collateral Agent promptly upon request. 
 (c) The Security Interest is granted as security only and shall
not subject the Collateral Agent or any other First Lien Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Article 9 Collateral. 

(d) Notwithstanding anything to the contrary in Article II or Article III, the term “Pledged Equity,” “Pledged
Collateral” or “Collateral”, as it refers to such Collateral securing Permitted Debt Offering Obligations for which the applicable Permitted Debt Offering Agreement specifies such obligations will be subject to this paragraph or whose
Authorized Representative otherwise elects to be subject to this paragraph, shall not include any Equity Interests and other securities of a Subsidiary of the Company to the extent that the pledge of such Equity Interests and other securities would
result in Nielsen or the Company being required to file separate financial statements of such Subsidiary with the SEC, but only to the extent necessary to not be subject to such requirement and only for so long as such requirement is in existence
and only with respect to the relevant Permitted Debt Offering Obligations affected; provided that neither Nielsen nor any Subsidiary shall take any action in the form of a reorganization, merger or other restructuring a principal purpose of which is
to provide for the release of the Lien on any Equity Interests pursuant to this clause (d). In addition, in the event that Rule 3-16 of Regulation S-X under the Securities Act of 1933, as amended (“Rule 3-16”) is amended, modified or
interpreted by the SEC to require (or is replaced with another rule or regulation, or any other law, rule or regulation is adopted, which would require) the filing with the SEC (or any other Governmental Authority) of separate financial statements
of any Subsidiary of the Company due to the fact that such Subsidiary’s Equity Interests secures the Permitted Debt Offering Obligations affected thereby, then the Equity Interests of such Subsidiary will automatically be deemed not to be part
of the Collateral securing the relevant Permitted Debt Offering Obligations affected thereby but only to the extent necessary to not be subject to such requirement and only for so long as required to not be subject to such requirement. In such
event, this Agreement may be amended or modified, without the consent of any First Lien Secured Party, to the extent necessary to release the First Lien Security Interests in favor of the Collateral Agent on the shares of Equity Interests that are
so deemed to no longer constitute part of the Collateral for the relevant Permitted Debt Offering Obligations only. In the event that Rule 3-16 is amended, modified or interpreted by the SEC to permit (or is replaced with another rule or regulation,
or any other law, rule or regulation is adopted, which would permit) such Subsidiary’s Equity Interests to secure the Permitted Debt Offering Obligations in excess of the amount then pledged without the filing with the SEC (or any other
Governmental Authority) of separate financial statements of such Subsidiary, then the Equity Interests of such Subsidiary will automatically be deemed to be a part of the Collateral for the relevant Permitted Debt Offering Obligations. For the
avoidance of doubt and notwithstanding anything to the contrary in this Agreement, nothing in this clause (d) shall limit the pledge of such Equity Interests and other securities from securing the Obligations and the Initial Permitted Debt
Offering Obligations at all times or from securing any Permitted Debt Offering Obligations that are not in respect of securities subject to regulation by the SEC for which the applicable Permitted Debt Offering Agreement specifies, or whose
Authorized Representative elects to be subject to this paragraph. 
  

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 SECTION 3.02. Representations and Warranties. The U.S. Borrower represents and
warrants, as to itself and the other Grantors, to the Collateral Agent and the First Lien Secured Parties that: 

(a) Each Grantor has good and valid rights in and title to the Article 9 Collateral with respect to which it has
purported to grant a Security Interest hereunder and has full power and authority to grant to the Collateral Agent the Security Interest in such Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in
accordance with the terms of this Agreement, without the consent or approval of any other Person other than any consent or approval that has been obtained. 

(b) The Perfection Certificate has been duly prepared, completed and executed and the information set forth therein,
including the exact legal name of each Grantor, is correct and complete in all material respects as of the Closing Date and has been updated accurately in accordance with the terms hereof through the Amendment Effective Date. The Uniform Commercial
Code financing statements (including fixture filings, as applicable) or other appropriate filings, recordings or registrations prepared by the Collateral Agent based upon the information provided to the Collateral Agent in the Perfection Certificate
for filing in each governmental, municipal or other office specified in the Perfection Certificate, are all the filings, recordings and registrations that are necessary to establish a legal, valid and perfected security interest in favor of the
Collateral Agent (for the benefit of the First Lien Secured Parties) in respect of all Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States (or any political subdivision
thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under applicable law with respect to the
filing of continuation statements. 
 (c) The Security Interest constitutes (i) a legal and valid security
interest in all the Article 9 Collateral securing the payment and performance of the First Lien Obligations and (ii) subject to the filings described in Section 3.02(b), a perfected security interest in all Article 9 Collateral
in which a security interest may be perfected by filing, recording or registering a financing statement or analogous document in the United States (or any political subdivision thereof) and its territories and possessions pursuant to the Uniform
Commercial Code. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement and under each Permitted Debt Offering
Agreement. 
 (d) The Article 9 Collateral is owned by the Grantors free and clear of any Lien, except for
Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement and under each Permitted Debt Offering Agreement. None of the Grantors has filed or consented to the filing of (i) any financing statement or analogous document
under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral or (ii) any assignment in which any Grantor assigns any Article 9 Collateral or any security agreement or similar instrument covering any
Article 9 Collateral with any foreign governmental, municipal or other office, which financing statement or analogous document, 

 

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assignment, security agreement or similar instrument is still in effect, except, in each case, for Liens expressly permitted pursuant to Section 7.01 of the Credit Agreement and under each
Permitted Debt Offering Agreement. 
 SECTION 3.03. Covenants. (a) The U.S. Borrower agrees promptly to notify the
Collateral Agent in writing of any change (i) in legal name of any Grantor, (ii) in the identity or type of organization or corporate structure of any Grantor, or (iii) in the jurisdiction of organization of any Grantor. 

(b) Each Grantor shall, at its own expense, take any and all commercially reasonable actions necessary to defend title to the
Article 9 Collateral against all Persons and to defend the Security Interest of the Collateral Agent in the Article 9 Collateral and the priority thereof against any Lien not expressly permitted pursuant to Section 7.01 of the Credit
Agreement and under each Permitted Debt Offering Agreement. 
 (c) The U.S. Borrower agrees, on its own behalf and on behalf of
each other Grantor, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and documents and take all such actions as the Collateral Agent may from time to time reasonably request to better
assure, preserve, protect and perfect the Security Interest and the rights and remedies created hereby, including the payment of any fees and taxes required in connection with the execution and delivery of this Agreement, the granting of the
Security Interest and the filing of any financing statements (including fixture filings) or other documents in connection herewith or therewith. 

(d) At its option, the Collateral Agent may discharge past due taxes, assessments, charges, fees, Liens, security interests or other
encumbrances at any time levied or placed on the Article 9 Collateral and not permitted pursuant to Section 7.01 of the Credit Agreement and under each Permitted Debt Offering Agreement, and may pay for the maintenance and preservation of
the Article 9 Collateral to the extent any Grantor fails to do so as required by the Credit Agreement, this Agreement or any Permitted Debt Offering Agreement and within a reasonable period of time after the Collateral Agent has requested that
it do so, and each Grantor jointly and severally agrees to reimburse the Collateral Agent within 10 days after demand for any payment made or any reasonable expense incurred by the Collateral Agent pursuant to the foregoing authorization.
Nothing in this paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Collateral Agent or any First Lien Secured Party to cure or perform, any covenants or other promises of any Grantor
with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein, in the other Loan Documents and in each Permitted Debt Offering Agreement. 

(e) Each Grantor (rather than the Collateral Agent or any First Lien Secured Party) shall remain liable (as between itself and any
relevant counterparty) to observe and perform all the conditions and obligations to be observed and performed by it under each contract, agreement or instrument relating to the Article 9 Collateral, all in accordance with the terms and
conditions thereof, and each Grantor jointly and severally agrees to indemnify and hold harmless the Collateral Agent and the First Lien Secured Parties from and against any and all liability for such performance. 

 

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 SECTION 3.04. Other Actions. In order to further insure the attachment, perfection
and priority of, and the ability of the Collateral Agent to enforce, the Security Interest, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral:

 (a) Instruments. If any Grantor shall at any time hold or acquire any Instruments constituting
Collateral and evidencing an amount in excess of $10,000,000, such Grantor shall forthwith endorse, assign and deliver the same to the Collateral Agent for the benefit of the applicable First Lien Secured Parties, accompanied by such instruments of
transfer or assignment duly executed in blank as the Collateral Agent may from time to time reasonably request. 

(b) Investment Property. Except to the extent otherwise provided in Article II, if any Grantor shall at any
time hold or acquire any certificated securities, such Grantor shall forthwith endorse, assign and deliver the same to the Collateral Agent for the benefit of the applicable First Lien Secured Parties, accompanied by such instruments of transfer or
assignment duly executed in blank as the Collateral Agent may from time to time reasonably request. If any securities now or hereafter acquired by any Grantor are uncertificated and are issued to such Grantor or its nominee directly by the issuer
thereof, upon the Collateral Agent’s request and following the occurrence of an Event of Default such Grantor shall promptly notify the Collateral Agent thereof and, at the Collateral Agent’s reasonable request, pursuant to an agreement in
form and substance reasonably satisfactory to the Collateral Agent, either (i) cause the issuer to agree to comply with instructions from the Collateral Agent as to such securities, without further consent of any Grantor or such nominee, or
(ii) arrange for the Collateral Agent to become the registered owner of the securities. If any securities, whether certificated or uncertificated, or other investment property are held by any Grantor or its nominee through a securities
intermediary or commodity intermediary, upon the Collateral Agent’s request following the occurrence of an Event of Default, such Grantor shall immediately notify the Collateral Agent thereof and at the Collateral Agent’s request and
option, pursuant to an agreement in form and substance reasonably satisfactory to the Collateral Agent shall either (i) cause such securities intermediary or (as the case may be) commodity intermediary to agree to comply with entitlement orders
or other instructions from the Collateral Agent to such securities intermediary as to such security entitlements, or (as the case may be) to apply any value distributed on account of any commodity contract as directed by the Collateral Agent to such
commodity intermediary, in each case without further consent of any Grantor or such nominee, or (ii) in the case of financial assets or other Investment Property held through a securities intermediary, arrange for the Collateral Agent to become
the entitlement holder with respect to such Investment Property, with the Grantor being permitted, only with the consent of the Collateral Agent, to exercise rights to withdraw or otherwise deal with such Investment Property. The Collateral Agent
agrees with each of the Grantors that the Collateral Agent shall not give any such entitlement orders or instructions or directions to any such issuer, securities intermediary or commodity intermediary, and shall not withhold its consent to the
exercise of any withdrawal or dealing rights by any Grantor, unless an Event of Default has occurred and is continuing. The provisions of this paragraph shall not apply to any financial assets credited to a securities account for which the
Collateral Agent is the securities intermediary. 
  

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 (c) Commercial Tort Claims. If any Grantor shall at any time hold or
acquire a Commercial Tort Claim in an amount reasonably estimated by such Grantor to exceed $10,000,000 and for which a complaint in a court of competent jurisdiction has been filed (or with respect to which such Grantor’s affirmative intent to
file such a complaint or to settle the claim absent court proceeding has been documented in writing to the obligor of such claim), the Grantor shall promptly notify the Collateral Agent thereof in a writing signed by such Grantor including a summary
description of such claim and grant to the Collateral Agent, for the benefit of the First Lien Secured Parties, in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in
form and substance reasonably satisfactory to the Collateral Agent. 
 ARTICLE IV  

Remedies 

SECTION 4.01. Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, it is agreed that the
Collateral Agent shall have the right to exercise any and all rights afforded to a secured party with respect to the First Lien Obligations under the Uniform Commercial Code or other applicable law and also may (i) require each Grantor to, and
each Grantor agrees that it will at its expense and upon request of the Collateral Agent forthwith, assemble all or part of the Collateral as directed by the Collateral Agent and make it available to the Collateral Agent at a place and time to be
designated by the Collateral Agent that is reasonably convenient to both parties; (ii) occupy any premises owned or, to the extent lawful and permitted, leased by any of the Grantors where the Collateral or any part thereof is assembled or
located for a reasonable period in order to effectuate its rights and remedies hereunder or under law, without obligation to such Grantor in respect of such occupation; provided that the Collateral Agent shall provide the applicable Grantor
with notice thereof prior to or promptly after such occupancy; (iii) exercise any and all rights and remedies of any of the Grantors under or in connection with the Collateral, or otherwise in respect of the Collateral; provided that the
Collateral Agent shall provide the applicable Grantor with notice thereof prior to or promptly after such exercise; and (iv) subject to the mandatory requirements of applicable law and the notice requirements described below, to sell or
otherwise dispose of all or any part of the Collateral securing the First Lien Obligations at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery as the Collateral Agent
shall deem appropriate. The Collateral Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent and agree that they are purchasing
the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or
purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely, free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by
law) all rights of redemption, stay and appraisal which such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 

 

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 The Collateral Agent shall give the applicable Grantors 10 days’ written notice
(which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale of Collateral. Such notice, in the
case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the
Collateral, or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary business hours and at such place or places as the Collateral Agent may fix and state
in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may (in its sole and absolute discretion) determine. The
Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice of sale of such Collateral shall have been given. The Collateral Agent may, without notice or
publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was
so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained by the Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the
Collateral Agent shall not incur any liability in case any such purchaser or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice. At any public (or,
to the extent permitted by law, private) sale made pursuant to this Agreement, any First Lien Secured Party may bid for or purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or appraisal on the part of any
Grantor (all said rights being also hereby waived and released to the extent permitted by law), the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to such First Lien
Secured Party from any Grantor as a credit against the purchase price, and such First Lien Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor.
For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to
the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Collateral Agent shall have entered into such an agreement all Events of Default shall have been remedied and the First Lien Obligations
paid in full. As an alternative to exercising the power of sale herein conferred upon it, the Collateral Agent may proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant
to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 4.01 shall be deemed to conform to the commercially
reasonable standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
  

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 Each Grantor irrevocably makes, constitutes and appoints the Collateral Agent (and all
officers, employees or agents designated by the Collateral Agent) as such Grantor’s true and lawful agent (and attorney-in-fact) during the continuance of an Event of Default and after notice to the U.S. Borrower of its intent to exercise such
rights, for the purpose of (i) making, settling and adjusting claims in respect of Article 9 Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of
such policies if insurance, (ii) making all determinations and decisions with respect thereto and (iii) obtaining or maintaining the policies of insurance required by Section 6.07 of the Credit Agreement or any equivalent provision of
any Permitted Debt Offering Agreement or to pay any premium in whole or in part relating thereto. All sums disbursed by the Collateral Agent in connection with this paragraph, including reasonable attorneys’ fees, court costs, expenses and
other charges relating thereto, shall be payable, within 10 days of demand, by the Grantors to the Collateral Agent and shall be First Lien Obligations secured hereby. 

SECTION 4.02. Application of Proceeds. (a) The Collateral Agent shall apply the proceeds of any collection or sale of
Collateral, including any Collateral consisting of cash, in the order provided for in the Intercreditor Agreement. 
 The
Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale
granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall
not be obligated to see to the application of any part of the purchase money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 

(b) In making the determination and allocations required by this Section 4.02, the Collateral Agent may conclusively rely upon
information supplied by the Administrative Agent as to the amounts of unpaid principal and interest and other amounts outstanding with respect to the First Lien Obligations, and the Collateral Agent shall have no liability to any of the First Lien
Secured Parties for actions taken in reliance on such information, provided that nothing in this sentence shall prevent any Grantor from contesting any amounts claimed by any First Lien Secured Party in any information so supplied. All
distributions made by the Collateral Agent pursuant to this Section 4.02 shall be (subject to any decree of any court of competent jurisdiction) final (absent manifest error), and the Collateral Agent shall have no duty to inquire as to the
application by the Administrative Agent of any amounts distributed to it. 
 ARTICLE V  

Indemnity, Subrogation, Subordination and Certain Dutch Matters 

SECTION 5.01. Indemnity. In addition to all such rights of indemnity and subrogation as the Grantors may have under applicable law
(but subject to Section 5.03), each Borrower agrees that, in the event any assets of any Grantor (other than a Borrower primarily liable for such obligation) shall be sold pursuant to this Agreement or any other Collateral Document to satisfy
in whole or in part an obligation owed to any First Lien Secured Party, the relevant Borrower shall indemnify such Grantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 

 

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 SECTION 5.02. Contribution and Subrogation. Each Grantor other than with respect to
First Lien Obligations for which such Grantor is primarily liable as a Borrower (a “Contributing Party”) agrees (subject to Section 5.03) that, in the event assets of any other Grantor other than such Borrower shall be sold
pursuant to any Collateral Document to satisfy any First Lien Obligation of such Borrower owed to any First Lien Secured Party and such other Grantor (the “Claiming Party”) shall not have been fully indemnified by such Borrower as
provided in Section 5.01, the Contributing Party shall indemnify the Claiming Party in an amount equal to the greater of the book value or the fair market value of such assets, in each case multiplied by a fraction of which the numerator shall
be the net worth of the Contributing Party on the Closing Date and the denominator shall be the aggregate net worth of all the Contributing Parties together with the net worth of the Claiming Party on the Closing Date (or, in the case of any Grantor
becoming a party to the Original Security Agreement or hereto pursuant to Section 6.14 thereof or hereof, the date of the Security Agreement Supplement hereto executed and delivered by such Grantor). Any Contributing Party making any payment to
a Claiming Party pursuant to this Section 5.02 shall be subrogated to the rights of such Claiming Party to the extent of such payment. 

SECTION 5.03. Subordination. (a) Notwithstanding any provision of this Agreement to the contrary, all rights of the Grantors
under Sections 5.01 and 5.02 and all other rights of indemnity, contribution or subrogation under applicable law or otherwise shall be fully subordinated to the indefeasible payment in full in cash of the First Lien Obligations. No failure on
the part of any Borrower or any Grantor to make the payments required by Sections 5.01 and 5.02 (or any other payments required under applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Grantor with
respect to its obligations hereunder, and each Grantor shall remain liable for the full amount of the obligations of such Grantor hereunder. 

(b) Each Grantor hereby agrees that upon the occurrence and during the continuance of an Event of Default and after notice from the
Collateral Agent all Indebtedness owed to it by any Subsidiary shall be fully subordinated to the indefeasible payment in full in cash of the First Lien Obligations. 

SECTION 5.04. Certain Dutch Matters. Any obligation, guarantee, undertaking or security granted or assumed by a Person
incorporated or organized under the laws of The Netherlands pursuant to this Agreement or any other Loan Document or Secured Credit Document (as defined in the Intercreditor Agreement) shall be deemed not to be undertaken or incurred by such Person
to the extent that the same would constitute unlawful financial assistance within the meaning of Section 2:207(c) or 2:98(c) of the Dutch Civil Code or any other applicable financial assistance rules under any relevant jurisdiction (the
“Prohibition”) and the provisions of this Agreement, the other Loan Documents and Secured Credit Documents (as defined in the Intercreditor Agreement) shall be construed accordingly. For the avoidance of doubt it is expressly
acknowledged that the relevant Persons incorporated under the laws of The Netherlands will continue to guarantee and secure all such obligations which, if included, do not constitute a violation of the Prohibition. 

 

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 ARTICLE VI  

Miscellaneous 

SECTION 6.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 10.02 of the Credit Agreement (whether or not then in effect) and all notices to any holder of obligations under any Permitted Debt Offering Agreement, at its address set forth in the First Lien Secured
Party Consent or the Intercreditor Agreement, as such address may be changed by written notice to the Collateral Agent and Nielsen. All communications and notices hereunder to any Grantor other than the U.S. Borrower shall be given to it in care of
the U.S. Borrower as provided in Section 10.02 of the Credit Agreement (whether or not then in effect) or, if the Credit Agreement is no longer outstanding, the equivalent provision of each Permitted Debt Offering Agreement. Notwithstanding
anything to the contrary herein or in any other document, the Collateral Agent shall not be required to give any notice, forward any document or initiate any communication to any First Lien Secured Party unless expressly required to do so pursuant
to the Credit Agreement or the Intercreditor Agreement. 
 SECTION 6.02. Waivers; Amendment. (a) No failure or delay
by any First Lien Secured Party in exercising any right or power hereunder or under any other Loan Document or Permitted Debt Offering Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power,
or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the First Lien Secured Parties hereunder and under
the other Loan Documents and Permitted Debt Offering Agreements are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Loan Party
therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 6.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.
Without limiting the generality of the foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a waiver of any Default, regardless of whether any First Lien Secured Party may have had notice or knowledge of such
Default at the time. No notice or demand on any Loan Party in any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 

(b) Neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in
writing entered into by the Collateral Agent, the Loan Party or Loan Parties with respect to which such waiver, amendment or modification is to apply, and each other Authorized Representative to the extent required by (and in accordance with) the
applicable Permitted Debt Offering Agreement, subject to any consent required in accordance with Section 10.01 of the Credit Agreement, the equivalent provision of each Permitted Debt Offering Agreement, or as otherwise required by the
Intercreditor Agreement or another applicable intercreditor agreement. 
  

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 SECTION 6.03. Collateral Agent’s Fees and Expenses; Indemnification. 

(a) The parties hereto agree that the Collateral Agent shall be entitled to reimbursement of its expenses incurred hereunder as provided
in Section 10.04 of the Credit Agreement (whether or not then in effect) and the equivalent provision of each Permitted Debt Offering Agreement. 

(b) Without limitation of its indemnification obligations under the other Loan Documents, the U.S. Borrower agrees to indemnify the
Collateral Agent and each Agent-Related Person, each Lender, each “Lender” under and as defined in the Initial Permitted Debt Offering Agreement and (to the extent provided in the applicable Permitted Debt Offering Agreement
with respect to such First Lien Secured Party) any other First Lien Secured Party and their respective Affiliates, and directors, officers, employees, counsel, agents, trustees, investment advisors and attorneys-in-fact of each of the
foregoing (collectively the “Indemnitees”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses, including the reasonable fees, charges and disbursements of any
counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of, the execution, delivery or performance of this Agreement or any claim, litigation, investigation or proceeding relating
to any of the foregoing or any agreement or instrument contemplated hereby, or to the Collateral, whether or not any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that
such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or of any
Affiliate, director, officer, employee, counsel, agent or attorney-in-fact of such Indemnitee. 
 (c) Any such amounts payable
as provided hereunder shall be First Lien Obligations secured hereby and by the other Collateral Documents. The provisions of this Section 6.03 shall remain operative and in full force and effect regardless of the termination of this Agreement,
any other Loan Document or any Permitted Debt Offering Agreement, the consummation of the transactions contemplated hereby, the repayment of any of the First Lien Obligations, the invalidity or unenforceability of any term or provision of this
Agreement, any other Loan Document or any Permitted Debt Offering Agreement or any investigation made by or on behalf of the Collateral Agent or any other First Lien Secured Party. All amounts due under this Section 6.03 shall be payable within
10 days of written demand therefor. 
 SECTION 6.04. Successors and Assigns. Whenever in this Agreement any of the
parties hereto is referred to, such reference shall be deemed to include the permitted successors and assigns of such party; and all covenants, promises and agreements by or on behalf of any Grantor or the Collateral Agent that are contained in this
Agreement shall bind and inure to the benefit of their respective successors and assigns. 
 SECTION 6.05. Survival of
Agreement. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents, each Permitted Debt Offering Agreement and in the certificates or other instruments prepared or delivered in connection with or
pursuant to this Agreement, any other Loan Document or any Permitted Debt Offering Agreement shall be considered to have been relied upon by the applicable First Lien Secured Parties and shall survive the execution and delivery of the Loan
Documents, each Permitted Debt 
  

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Offering Agreement and the making of any Loans, issuance of any Letters of Credit, or other extensions of credit regardless of any investigation made by any First Lien Secured Party or on its
behalf and notwithstanding that any First Lien Secured Party may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended under the Credit Agreement or any Permitted Debt Offering
Agreement, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or note or other Indebtedness or any fee or any other amount payable under any Loan Document or any Permitted Debt Offering
Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments (as defined in the Credit Agreement) have not expired or terminated. 

SECTION 6.06. Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts, each of which shall
constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of
this Agreement. This Agreement shall become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Collateral Agent and a counterpart hereof shall have been executed on behalf
of the Collateral Agent, and thereafter shall be binding upon such Loan Party and the Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Loan Party, the Collateral Agent and the other First
Lien Secured Parties and their respective successors and assigns, except that no Loan Party shall have the right to assign or transfer its rights or obligations hereunder or any interest herein or in the Collateral (and any such assignment or
transfer shall be void) except as expressly contemplated by this Agreement and the Credit Agreement and not prohibited by each Permitted Debt Offering Agreement. This Agreement shall be construed as a separate agreement with respect to each Loan
Party and may be amended, modified, supplemented, waived or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder. 

SECTION 6.07. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular
provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the
economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION
6.08. Right of Set-Off. In addition to any rights and remedies of the First Lien Secured Parties provided by Law and the Credit Agreement and the Permitted Debt Offering Agreements, upon the occurrence and during the continuance of any Event
of Default, each First Lien Secured Party and its Affiliates is authorized at any time and from time to time, without prior notice to the U.S. Borrower or any other Loan Party, any such notice being waived by the U.S. Borrower and each Loan Party to
the fullest extent permitted by applicable Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held by, and other Indebtedness at any time owing by, such First Lien Secured Party and
its Affiliates to or for the credit or the account of the respective Loan Parties against any and 
  

 -31- 

 
all obligations owing to such First Lien Secured Party and its Affiliates hereunder, now or hereafter existing, irrespective of whether or not such First Lien Secured Party or Affiliate shall
have made demand under this Agreement and although such obligations may be contingent or unmatured or denominated in a currency different from that of the applicable deposit or Indebtedness. Each First Lien Secured Party agrees promptly to notify
the U.S. Borrower and the Collateral Agent after any such set off and application made by such First Lien Secured Party; provided, that the failure to give such notice shall not affect the validity of such set-off and application. The rights
of each First Lien Secured Party under this Section 6.08 are in addition to other rights and remedies (including other rights of set-off) that such First Lien Secured Party may have and are subject to the Intercreditor Agreement. 

SECTION 6.09. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance
with and governed by the law of the State of New York. 
 (b) Each of the Loan Parties hereby irrevocably and unconditionally
submits, for itself and its property, to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court
from any thereof, in any action or proceeding arising out of or relating to this Agreement or any other Loan Document, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees
that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement, any other Loan Document or any Permitted Debt Offering Agreement shall affect any
right that any First Lien Secured Party may otherwise have to bring any action or proceeding relating to this Agreement, any other Loan Document or any Permitted Debt Offering Agreement against any Grantor or its properties in the courts of any
jurisdiction. 
 (c) Each of the Loan Parties hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement, any other Loan Document or any Permitted Debt Offering Agreement
in any court referred to in paragraph (b) of this Section 6.09. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 6.01. Nothing in this Agreement, any other Loan Document or any Permitted Debt Offering Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law.

 SECTION 6.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY 
  

 -32- 

 
OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT, ANY PERMITTED DEBT OFFERING AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT
OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.10. 

SECTION 6.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 6.12. Security Interest Absolute. Except as otherwise set forth herein regarding the obligations of the Third Party
Pledgor, all rights of the Collateral Agent hereunder, the Security Interest, the grant of a security interest in the Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of
validity or enforceability of the Credit Agreement, any other Loan Document, any Permitted Debt Offering Agreement, any agreement with respect to any of the First Lien Obligations or any other agreement or instrument relating to any of the
foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the First Lien Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other
Loan Document, any Permitted Debt Offering Agreement, or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien on other collateral, or any release or amendment or waiver of or consent under or departure from
any guarantee, securing or guaranteeing all or any of the First Lien Obligations or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Grantor in respect of the First Lien Obligations or
this Agreement. 
 SECTION 6.13. Termination or Release. (a) This Agreement, the Security Interest and all other
security interests granted hereby shall terminate with respect to all First Lien Obligations when all the outstanding First Lien Obligations have been paid in full and the Lenders have no further commitment to lend under the Credit Agreement, the
L/C Obligations have been reduced to zero and the L/C Issuers have no further obligations to issue Letters of Credit under the Credit Agreement and all other Permitted Debt Offering Obligations under the Permitted Debt Offering Agreements
have been satisfied. 
 (b) A Grantor (other than the U.S. Borrower) shall automatically be released from its obligations
hereunder and the Security Interest in the Collateral of such Grantor shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement and each Permitted Debt Offering Agreement as a result of which such
Grantor ceases to be a Subsidiary of VNUHF or is otherwise no longer required to be a Grantor hereunder; provided that any necessary parties shall have consented to such transaction (to the extent required by the Credit Agreement or any
Permitted Debt Offering Agreement) and the terms of such consent did not provide otherwise. 
  

 -33- 

 (c) Upon any sale or other transfer by any Grantor of any Collateral (other than any
transfer of Collateral to another Grantor) that is permitted under the Credit Agreement and each other Permitted Debt Offering Agreement, or upon the effectiveness of any written consent to the release of the security interest granted hereby in any
Collateral pursuant to Section 10.01 of the Credit Agreement and under the equivalent provision of any Permitted Debt Offering Agreement, the security interest in such Collateral shall be automatically released. 

(d) In connection with any termination or release pursuant to paragraph (a), (b), (c), (e) or (f), the Collateral Agent shall
execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this Section 6.13 shall be
without recourse to or warranty by the Collateral Agent. 
 (e) Solely with respect to any Permitted Debt Offering Obligations,
a Grantor shall automatically be released from its obligations hereunder and/or the security interests in any Collateral shall in each case be automatically released, in each case (i) solely with respect to Initial Permitted Debt Offering
Obligations, upon the occurrence of any of the circumstances set forth in Section 8.11 of the Initial Permitted Debt Offering Agreement or (ii) with respect to any other Permitted Debt Offering Obligations, other than the Initial Permitted
Debt Offering Obligations, upon the occurrence of any of the circumstances set forth under any applicable Permitted Debt Offering Agreement governing such Permitted Debt Offering Obligations, all without delivery of any instrument or performance of
any act by any party, and all rights to the Collateral shall revert to any applicable Grantor. 
 (f) If any Collateral shall
become subject to the release provisions set forth in Section 2.04 of the Intercreditor Agreement, the lien created hereunder on such Collateral shall be automatically released to the extent (and only to the extent) provided therein.

 SECTION 6.14. Additional Restricted Subsidiaries. Pursuant to Section 6.11 of the Credit Agreement and/or the
equivalent provision of any Permitted Debt Offering Agreement, certain Restricted Subsidiaries of the Loan Parties that were not in existence or not Restricted Subsidiaries on the date of the Credit Agreement and/or the applicable Permitted Debt
Offering Agreement are required to enter into this Agreement as Grantors upon becoming Restricted Subsidiaries. Upon execution and delivery by the Collateral Agent and a Restricted Subsidiary of a Security Agreement Supplement, such Restricted
Subsidiary shall become a Grantor hereunder with the same force and effect as if originally named as a Grantor herein. The execution and delivery of any such instrument shall not require the consent of any other Loan Party hereunder. The rights and
obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Loan Party as a party to this Agreement. 

SECTION 6.15. Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby appoints the Collateral Agent the attorney-in-fact
of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof at

  

 -34- 

 
any time after and during the continuance of an Event of Default, which appointment is irrevocable and coupled with an interest. Without limiting the generality of the foregoing, the Collateral
Agent shall have the right, upon the occurrence and during the continuance of an Event of Default and notice by the Collateral Agent to the U.S. Borrower of its intent to exercise such rights, with full power of substitution either in the Collateral
Agent’s name or in the name of such Grantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof;
(b) to demand, collect, receive payment of, give receipt for and give discharges and releases of all or any of the Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral;
(d) to send verifications of Accounts to any Account Debtor; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any
of the Collateral or to enforce any rights in respect of any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) to notify, or to require any
Grantor to notify, Account Debtors to make payment directly to the Collateral Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other
acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Collateral Agent were the absolute owner of the Collateral for all purposes; provided that nothing herein contained shall be
construed as requiring or obligating the Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Collateral Agent, or to present or file any claim or notice, or to take any action
with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Collateral Agent and the other First Lien Secured Parties shall be accountable only for amounts actually
received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross
negligence or willful misconduct or that of any of their Affiliates, directors, officers, employees, counsel, agents or attorneys-in-fact. 

SECTION 6.16. General Authority of the Collateral Agent. 

(a) By acceptance of the benefits of this Agreement and any other Collateral Documents, each First Lien Secured Party (whether or not a
signatory hereto) shall be deemed irrevocably (i) to consent to the appointment of the Collateral Agent as its agent hereunder and under such other Collateral Documents, (ii) to confirm that the Collateral Agent shall have the authority to
act as the exclusive agent of such First Lien Secured Party for the enforcement of any provisions of this Agreement and such other Collateral Documents against any Grantor, the exercise of remedies hereunder or thereunder and the giving or
withholding of any consent or approval hereunder or thereunder relating to any Collateral or any Grantor’s obligations with respect thereto, (iii) to agree that it shall not take any action to enforce any provisions of this Agreement or
any other Collateral Document against any Grantor, to exercise any remedy hereunder or thereunder or to give any consents or approvals hereunder or thereunder except as expressly provided in this Agreement or any other Collateral Document (and any
intercreditor agreement) and (iv) to agree to be bound by the terms of this Agreement and any other Collateral Documents. 
  

 -35- 

 (b) Notwithstanding anything herein to the contrary, the provisions of this
Section 6.16 shall be expanded by Article IV of the Intercreditor Agreement, which provisions shall govern the appointment of Citibank, N.A. as Collateral Agent for the First Lien Secured Parties to the extent of any conflict with this
Agreement. The First Lien Secured Parties agree that the Collateral Agent may resign at any time in accordance with the Credit Agreement as in effect on the date hereof and Section 9.09 of the Credit Agreement is deemed incorporated herein.

 SECTION 6.17. Miscellaneous. 

(a) The Collateral Agent may execute any of the powers granted under this Agreement and perform any duty hereunder either directly or by
or through agents or attorneys-in-fact, and shall not be responsible for the gross negligence or willful misconduct of any agents or attorneys-in-fact selected by it with reasonable care and without gross negligence or willful misconduct.

 (b) The Collateral Agent shall not be deemed to have actual, constructive, direct or indirect notice or knowledge of the
occurrence of any Event of Default unless and until the Collateral Agent shall have received a notice of Event of Default or a notice from the Grantor or the First Lien Secured Parties to the Collateral Agent in its capacity as Collateral Agent
indicating that an Event of Default has occurred. The Collateral Agent shall have no obligation either prior to or after receiving such notice to inquire whether an Event of Default has, in fact, occurred and shall be entitled to rely conclusively,
and shall be fully protected in so relying, on any notice so furnished to it. 
 (c) Any obligation, guarantee or undertaking
granted or assumed by the Third Party Pledgor pursuant to this Agreement shall be subject to the limitations set forth in Section 11.11 of the Credit Agreement. 

SECTION 6.18. Subject to Intercreditor Agreement. Notwithstanding anything herein to the contrary, (i) the liens and security
interests granted to the Collateral Agent pursuant to this Agreement are expressly subject to the Intercreditor Agreement and (ii) the exercise of any right or remedy by the Collateral Agent hereunder is subject to the limitations and
provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern. 

SECTION 6.19. Permitted Debt Offering Obligations. On or after the date hereof and so long as such obligations and the liens to
secure such obligations are permitted to be incurred under the Credit Agreement and any Permitted Debt Offering Agreement then outstanding, Nielsen may from time to time designate obligations in respect of Indebtedness to be secured on a pari passu
basis with the First Lien Obligations as Permitted Debt Offering Obligations hereunder by delivering to the Collateral Agent and each Authorized Representative (a) a certificate signed by a Responsible Officer of Nielsen (i) identifying
the obligations so designated and the initial aggregate principal amount or face amount thereof, (ii) stating that such obligations are designated as Permitted Debt Offering Obligations for purposes hereof, (iii) representing that such
designation of such obligations as Permitted Debt Offering Obligations complies with the terms of the Credit Agreement and any Permitted Debt Offering Agreement then outstanding and (iv) specifying the name and address of the Authorized
Representative for such 
  

 -36- 

 
obligations and (b) a fully executed First Lien Secured Party Consent (in the form attached as Annex A). Each Authorized Representative agrees that upon the satisfaction of all conditions
set forth in the preceding sentence, the Collateral Agent shall act as agent under and subject to the terms of the Collateral Documents for the benefit of all First Lien Secured Parties, including without limitation, any First Lien Secured Parties
that hold any such Permitted Debt Offering Obligations, and each Authorized Representative agrees to the appointment, and acceptance of the appointment, of the Collateral Agent as agent for the holders of such Permitted Debt Offering Obligations as
set forth in each First Lien Secured Party Consent and agrees, on behalf of itself and each First Lien Secured Party it represents, to be bound by this Agreement and the Intercreditor Agreement. Each Authorized Representative party to this Agreement
on the date hereof shall be deemed to have complied with this Section 6.19 by its execution of this Agreement. 

(Remainder of page intentionally left blank) 

 

 -37- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	NIELSEN FINANCE LLC
		
	By:	 	 /s/ William Bradley

	Name:	 	William Bradley
	Title:	 	Vice President (Finance)
	
	 NMR LICENSING ASSOCIATES, L.P.,

A LIMITED PARTNERSHIP

		
	BY:	 	NMR INVESTING I, INC.
		 	ITS GENERAL PARTNER
		
	By:	 	 /s/ Frederick A. Steinmann

	Name:	 	Frederick A. Steinmann
	Title:	 	Executive Vice President
	
	 ATHENIAN LEASING CORPORATION

NMR INVESTING I, INC.

		
	By:	 	 /s/ Frederick A. Steinmann

	Name:	 	Frederick A. Steinmann
	Title:	 	Executive Vice President
	
	TNC (US) HOLDINGS, INC.
		
	By:	 	 /s/ Harris A. Black

	Name:	 	Harris A. Black
	Title:	 	Vice President
	
	NIELSEN HOLDING AND FINANCE B.V.
	(as a Grantor subject to the limitations set forth herein)
		
	By:	 	 /s/ Harris A. Black

	Name:	 	Harris A. Black
	Title:	 	Attorney
	
	NIELSEN FINANCE CO.
		
	By:	 	 /s/ Harris A. Black

	Name:	 	Harris A. Black
	Title:	 	Secretary

  

 -38- 

			
	A. C. NIELSEN (ARGENTINA) S.A.
	A. C. NIELSEN COMPANY, LLC
	ACN HOLDINGS INC.
	ACNIELSEN CORPORATION
	ACNIELSEN ERATINGS.COM
	ART HOLDING, L.L.C.
	BILLBOARD CAFES, INC.
	CZT/ACN TRADEMARKS, L.L.C.
	EMIS (CANADA), LLC
	FOREMOST EXHIBITS, INC.
	MFI HOLDINGS, INC.
	NESLEIN HOLDING, L.L.C.
	NETRATINGS, LLC
	NIELSEN BUSINESS MEDIA, INC.
	NIELSEN BUSINESS MEDIA HOLDING COMPANY
	NIELSEN GOVERNMENT AND PUBLIC SECTOR, INC.
	NIELSEN IAG, INC.
	NIELSEN LEASING CORPORATION
	NIELSEN MOBILE, LLC
	NIELSEN NATIONAL RESEARCH GROUP, INC.
	REWARDTV, INC.
	THE CAMBRIDGE GROUP, INC.
	THE NIELSEN COMPANY (US), LLC
	VNU MARKETING INFORMATION, INC.
		
	By:	 	 /s/ Harris A. Black

	Name:	 	Harris A. Black
	Title:	 	Secretary

  

 -39- 

			
	AGB NIELSEN MEDIA RESEARCH B.V.
	THE NIELSEN COMPANY B.V.
	VNU INTERMEDIATE HOLDING B.V.
	VNU INTERNATIONAL B.V.
		
	By:	 	 /s/ Harris A. Black

	Name:	 	Harris A. Black
	Title:	 	Attorney

  

 -40- 

			
	CITIBANK, N.A., as
	Collateral Agent
		
	By:	 	 /s/ Caesar W. Wyszomirski

	Name:	 	Caesar W. Wyszomirski
	Title:	 	VP

  

 -41- 

			
	GOLDMAN SACHS LENDING PARTNERS LLC, as
	an Authorized Representative
		
	By:	 	 /s/ Teri Streusand

	Name:	 	Teri Streusand
	Title:	 	Authorized Representative

  

 -42- 

 Schedule I to 

the Security Agreement 

EQUITY INTERESTS 
  

													
	 Issuer
	  	Issuer’s
Jurisdiction	  	Holder	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	  	Percent
Owned
	A.C. Nielsen (Argentina) S.A.	  	Delaware	  	A. C. Nielsen
 Company, LLC

	  	Delaware	  	1/2	  	200/9,800	  	100
							
	A.C. Nielsen (Dublin) Limited	  	Ireland	  		  		  	N/A	  	N/A	  	100
							
	A.C. Nielsen Chile Limitada	  	Chile	  		  		  	N/A	  	N/A	  	50.6
							
	A.C. Nielsen de Colombia Ltda.	  	Colombia	  		  		  	N/A	  	N/A	  	0.0001
							
	AC Nielsen El Salvador, S.A. de C.V.	  	El Salvador	  		  		  	N/A	  	N/A	  	5
							
	ACNielsen (Singapore) Ptd. Ltd.	  	Singapore	  		  		  	N/A	  	N/A	  	100
							
	ACNielsen (Tanzania) Ltd.	  	Tanzania	  		  		  	N/A	  	N/A	  	1
							
	ACNielsen eRatings.com	  	Delaware	  		  		  		  	100	  	100
							
	ACNielsen Honduras S.A. de C.V.	  	Honduras	  		  		  	N/A	  	N/A	  	0.4
							
	 ACNielsen Marketing Research India Private

    Limited
	  	India	  		  		  	N/A	  	N/A	  	0.01
							
	ACNielsen Nicaragua, S.A.	  	Nicaragua	  		  		  	N/A	  	N/A	  	2
							
	ACNielsen Pakistan (Private) Limited	  	Pakistan	  		  		  	N/A	  	N/A	  	0.1
							
	ACNielsen SA	  	Switzerland	  		  		  	N/A	  	N/A	  	99.75
							
	ART Holding, L.L.C.	  	Delaware	  		  		  	1	  	501	  	100
							
	CZT/ACN Trademarks, L.L.C.	  	Delaware	  		  		  	N/A	  	N/A	  	50
							
	EMIS (Canada), LLC	  	Delaware	  		  		  	N/A	  	N/A	  	100
							
	Neslein Holding (Spain) C.V.	  	Netherlands	  		  		  	N/A	  	N/A	  	98
							
	NetCrawling UK Limited	  	United Kingdom	  		  		  	N/A	  	N/A	  	100
							
	Nielsen Coöperatie W.A.	  	Netherlands	  		  		  	N/A	  	N/A	  	99

													
	 Issuer
	  	Issuer’s
Jurisdiction	  	Holder	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	  	Percent
Owned
	Nielsen General Partner B.V.	  	Netherlands	  		  		  	N/A	  	N/A	  	100
							
	Nielsen Leasing Corporation	  	Delaware	  	  

A. C. Nielsen
Company, LLC
	  	  

Delaware
	  	A-2	  	100	  	100
							
	The Nielsen Company (US), LLC	  	Delaware	  		  		  	2	  	1000	  	100
							
	Interactive Network, Inc.	  	California	  		  		  	N/A	  	N/A	  	0.36
							
	GQ Denver Property, L.L.C.	  	Delaware	  		  		  	N/A	  	N/A	  	17.89
							
	Interactive Data Corporation	  	Delaware	  		  		  	N/A	  	N/A	  	0.06
							
	NONSTOP Solutions, Incorporated	  	Delaware	  		  		  	N/A	  	N/A	  	0.7
							
	Market Simulations, Inc.	  	Delaware	  		  		  	N/A	  	N/A	  	20
							
	ACNielsen Corporation	  	Delaware	  	  
 ACN
Holdings
Inc.
	  	  

Delaware
	  	3	  	100	  	100
							
	Nielsen Finance LLC	  	Delaware	  		  		  	N/A	  	N/A	  	100
							
	A. C. Nielsen Company, LLC	  	Delaware	  	  

ACNielsen
Corporation
	  	  

Delaware
	  	3	  	1000	  	100
							
	A.C. Nielsen, SRL de C.V.	  	Mexico	  		  		  	N/A	  	N/A	  	0.01
							
	ACNielsen (Israel) Ltd.	  	Israel	  		  		  	N/A	  	N/A	  	100
							
	ACNielsen Holdings Limited	  	Hong Kong	  		  		  	N/A	  	N/A	  	95.998
							
	ACNielsen Marketing Research India Private Limited	  	India	  		  		  	N/A	  	N/A	  	99.99
							
	ACNielsen S.A.	  	Greece	  		  		  	N/A	  	N/A	  	0.00062
							
	Naviant France Sarl.	  	France	  		  		  	N/A	  	N/A	  	0.00000152
							
	Neslein Holding, L.L.C.	  	Delaware	  		  		  	N/A	  	100	  	100
							
	Nielsen Government and Public Sector, Inc.	  	California	  		  		  	4	  	1,000	  	100
							
	The Nielsen Company (Management Services-HK) Limited	  	Hong Kong	  		  		  	N/A	  	N/A	  	0.00000152

  

 -2- 

													
	 Issuer
	  	Issuer’s
Jurisdiction	  	Holder	  	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	  	Percent
Owned
	Percipient Inc. (merged with Efficient Market Services, Inc.)	  	Delaware	  	ACNielsen
Corporation	  	Delaware	  	N/A	  	N/A	  	6.4
							
	MediaMetrie Netratings SAS	  	France	  	  

ACNielsen
eRatings.com
	  	  

Delaware
	  	N/A	  	N/A	  	66
	NetRatings Japan	  	Japan	  		  		  	N/A	  	N/A	  	45.3
							
	IBOPE eRatings.com	  	Cayman
Islands	  		  		  	N/A	  	N/A	  	49
	Neslein Holding (Spain) C.V.	  	Netherlands	  	  

ART Holding,
L.L.C.
	  	  

Delaware
	  	N/A	  	N/A	  	1
	Nielsen Coöperatie W.A.	  	Netherlands	  		  		  	N/A	  	N/A	  	1
							
	Foremost Exhibits, Inc.	  	Nevada	  	MFI Holdings,
Inc.	  	Delaware	  	1	  	100	  	100
	Netratings (Shanghai) Company, Ltd.	  	China	  	  

NetRatings,
LLC
	  	  

Delaware
	  	N/A	  	N/A	  	100
							
	Netvalue Internet Measurement S.A.	  	Spain	  		  		  	N/A	  	N/A	  	100
							
	NTRT Eratings India Private Limited	  	India	  		  		  	N/A	  	N/A	  	100
							
	GlanceGuide, Inc.	  	California	  		  		  	N/A	  	N/A	  	33
							
	Nielsen Business Media, Inc.	  	Delaware	  	  

Nielsen Business
Media Holding
Company
	  	  

Delaware
	  	3	  	1,000	  	100
							
	VNU Business Media Argentina S.A.	  	Argentina	  		  		  	N/A	  	N/A	  	5
							
	Advertising Center, Inc.	  	California	  	  

Nielsen Business
Media, Inc.
	  	  

Delaware
	  	16,17	  	1,350	  	90
							
	Billboard Cafes, Inc.	  	Delaware	  		  		  	1	  	100	  	100
							
	MFI Holdings, Inc.	  	Delaware	  		  		  	1,2	  	200	  	100
							
	POC, Inc.	  	New York	  		  		  	4	  	8	  	100
							
	Showeast, LLC	  	New York	  		  		  	N/A	  	N/A	  	94
							
	VNU Business Media Argentina S.A.	  	Argentina	  		  		  	N/A	  	N/A	  	95
							
	SportsOneSource, L.L.C.	  	Delaware	  		  		  	N/A	  	N/A	  	16.666
							
	Nielsen Escrow Co.	  	Delaware	  	Nielsen Finance
Co.	  	Delaware	  	N/A	  	N/A	  	100
							
	Nielsen Escrow LLC	  	Delaware	  	  

Nielsen Finance
LLC
	  	  

Delaware
	  	N/A	  	N/A	  	100
							
	Nielsen Finance Co.	  	Delaware	  		  		  	2	  	1,000	  	100

  

 -3- 

													
	 Issuer
	  	Issuer’s
Jurisdiction	  	Holder	 	Holder’s
Jurisdiction	  	Certificate
No.	  	Quantity of
shares/Interest	 	Percent
Owned
	RewardTV, Inc.	  	Delaware	  	Nielsen IAG,
Inc.	 	Delaware	  	SC-1	  	100	 	100
							
	NMR Licensing Associates LP	  	Delaware	  	NMR Investing
I, Inc.	 	Delaware	  	N/A	  	N/A	 	1.689
							
	Nielsen Business Media Holding Company	  	Delaware	  	  

The Nielsen

Company (US),
LLC
	 	  

Delaware
	  	1	  	10	 	100
							
	Athenian Leasing Corporation	  	Delaware	  		 		  	5	  	1,000	 	100
							
	CZT/CAN Trademarks, L.L.C.	  	Delaware	  		 		  	N/A	  	50%	 	50
							
	NetRatings, LLC.	  	Delaware	  		 		  	N/A	  	N/A	 	100
							
	Nielsen EDI Limited	  	United Kingdom	  		 		  	N/A	  	N/A	 	1
							
	Nielsen IAG, Inc.	  	Delaware	  		 		  	N/A	  	N/A	 	100
							
	Nielsen Media Research Limited	  	Canada	  		 		  	N/A	  	N/A	 	99.9995
							
	Nielsen Mobile, LLC	  	Delaware	  		 		  	1	  	1,000	 	100
							
	Nielsen National Research Group, Inc.	  	California	  		 		  	1	  	1,000	 	100
							
	NMR Investing I, Inc.	  	Delaware	  		 		  	2	  	100	 	100
							
	NMR Licensing Associates LP	  	Delaware	  		 		  	N/A	  	N/A	 	98.311
							
	Scarborough Research	  	Delaware	  		 		  	N/A	  	50.5	 	50.5
							
	Strategic Mapping, Inc.	  	California	  		 		  	1	  	100	 	100
							
	VNU Marketing Information, Inc.	  	Delaware	  	The Nielsen
Company (US),
LLC	 	Delaware	  	CB-1	  	5	 	5
							
	Buzzmetrics, Ltd.	  	Israel	  	  

TNC (US) Holdings,
Inc.
	 	  
 New York

	  	N/A	  	N/A	 	8.87
							
	VNU Marketing Information, Inc.	  	Delaware	  		 		  	CA-1	  	95	 	95
							
	Neurofocus, Inc.	  	California	  		 		  	N/A	  	N/A	 	30
							
		  		  		 		  		  		 	
							
	ACN Holdings Inc.	  	Delaware	  	  

VNU Marketing
Information, Inc.
	 	  

Delaware
	  	2	  	100	 	100
							
	SportsOneSource, L.L.C.	  	Delaware	  		 		  	N/A	  	N/A	 	16.666
							
	HCIA Holding, LLC	  	Delaware	  		 		  	N/A	  	N/A	 	34.884

  

 -4- 

 DEBT SECURITIES 

Global Intercompany Note dated as of August 9, 2006 between each of the Companies, as the same has been supplemented from time to time. 

 

 -5- 

 Exhibit I to the 

Security Agreement 

SUPPLEMENT NO.      dated as of [—], (this
“Supplement”) to the Security Agreement dated as of August 9, 2006 and amended and restated as of June 23, 2009, among NIELSEN FINANCE LLC (“U.S. Borrower”), the other Grantors identified therein and
CITIBANK, N.A., as Collateral Agent for the First Lien Secured Parties. 
 A. Reference is made to the Credit Agreement dated as
of August 9, 2006, as amended January 22, 2007, as further amended August 9, 2007 and as amended and restated as of June 23, 2009 (as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among the U.S. Borrower, Nielsen Holding and Finance B.V. (formerly known as VNU Holding and Finance B.V.), TNC (US) Holdings Inc. (formerly known as VNU, Inc.), the Guarantors party thereto from time to time, the lenders and
other parties thereto from time to time and Citibank, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer, each Lender from time to time party thereto, Deutsche Bank Securities Inc., as Syndication Agent, and JPMorgan Chase Bank,
N.A., ABN AMRO Bank N.V. and ING Bank N.V. as Co-Documentation Agents. 
 B. Capitalized terms used herein and not otherwise
defined herein shall have the meanings assigned to such terms in the Credit Agreement and the Security Agreement referred to therein. 

C. The Grantors have entered into the Security Agreement in order to induce the Lenders to make Loans and the L/C Issuers to issue
Letters of Credit and to induce the providers under each Permitted Debt Offering Agreement to extend credit. Section 6.14 of the Security Agreement and/or the equivalent provision of any other Permitted Debt Offering Agreement provides that
additional Restricted Subsidiaries may become Grantors under the Security Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Restricted Subsidiary (the “New Subsidiary”) is executing
this Supplement in accordance with the requirements of the Credit Agreement to become a Grantor under the Security Agreement in order to induce the Lenders to make additional Loans and the L/C Issuers to issue additional Letters of Credit and as
consideration for Loans previously made and Letters of Credit previously issued and to induce the holders of any Permitted Debt Offering Obligations to make their respective extensions of credit thereunder. 

Accordingly, the Collateral Agent and the New Subsidiary agree as follows: 

SECTION 1. In accordance with Section 6.14 of the Amended and Restated Security Agreement, the New Subsidiary by its signature below
becomes a Grantor under the Security Agreement with the same force and effect as if originally named therein as a Grantor and the New Subsidiary hereby (a) agrees to all the terms and provisions of the Security Agreement applicable to it as a
Grantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, the New Subsidiary, as security
for the payment and performance in full of the First Lien Obligations does hereby create and grant to the Collateral Agent, its 

 

 -6- 

 
successors and assigns, for the benefit of the First Lien Secured Parties, their successors and assigns, a security interest in and lien on all of the New Subsidiary’s right, title and
interest in and to the Collateral (as defined in the Security Agreement) of the New Subsidiary. Each reference to a “Grantor” in the Security Agreement shall be deemed to include the New Subsidiary. The Security Agreement is hereby
incorporated herein by reference. 
 SECTION 2. The New Subsidiary represents and warrants to the Collateral Agent and the other
First Lien Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 

SECTION 3. This Supplement may be executed in counterparts (and by different parties hereto on different counterparts), each of which
shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Collateral Agent shall have received a counterpart of this Supplement that bears the signature of
the New Subsidiary and the Collateral Agent has executed a counterpart hereof. Delivery of an executed signature page to this Supplement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Supplement.

 SECTION 4. The New Subsidiary hereby represents and warrants that (a) set forth on Schedule I attached hereto is a
true and correct schedule of the location of any and all Collateral of the New Subsidiary and (b) set forth under its signature hereto is the true and correct legal name of the New Subsidiary, its jurisdiction of formation and the location of
its chief executive office. 
 SECTION 5. Except as expressly supplemented hereby, the Security Agreement shall remain in full
force and effect. 
 SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE
OF NEW YORK. 
 SECTION 7. In case any one or more of the provisions contained in this Supplement should be held invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the Security Agreement shall not in any way be affected or impaired thereby (it being understood that the
invalidity of a particular provision in a particular jurisdiction shall not in and of itself affect the validity of such provision in any other jurisdiction). The parties hereto shall endeavor in good-faith negotiations to replace the invalid,
illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 6.01 of the Security
Agreement. 
 SECTION 9. The New Subsidiary agrees to reimburse the Collateral Agent for its reasonable out-of-pocket expenses
in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Collateral Agent. 
  

 -7- 

 IN WITNESS WHEREOF, the New Subsidiary and the Collateral Agent have duly executed this
Supplement to the Security Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW SUBSIDIARY],
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Legal Name:
	Jurisdiction of Formation:
	Location of Chief Executive office:
	
	CITIBANK, N.A., as Collateral Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 -8- 

 Schedule I 

to the Supplement No      to the 

Security Agreement 

LOCATION OF COLLATERAL 
  

			
	 Description
	 	 Location

		 	
		 	
		 	

 EQUITY INTERESTS 
  

									
	 Issuer
	 	 Number of
Certificate
	 	 Registered
Owner
	 	 Number and
Class of
Equity
Interests
	 	 Percentage
of Equity Interests

		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

 DEBT SECURITIES 
  

							
	 Issuer
	 	 Principal
Amount
	 	 Date of Note
	 	 Maturity Date

 ANNEX A 

[Form of] 
 FIRST
LIEN SECURED PARTY CONSENT 
 [Name of First Lien Secured Party] 

[Address of First Lien Secured Party] 
 [Date]

 The undersigned is the Authorized Representative for Persons wishing to become First Lien Secured Parties (the “New
Secured Parties”) under (i) the Amended and Restated Security Agreement dated as of August 9, 2006 and amended and restated as of June 23, 2009, among Nielsen Finance LLC, the other Grantors identified therein and Citibank,
N.A., as Collateral Agent for the First Lien Secured Parties (as heretofore amended and/or supplemented, the “Security Agreement” (terms used without definition herein have the meanings assigned to such term by the Security
Agreement)): 
 (i) represents that the Authorized Representative has been duly authorized by the New Secured
Parties to become a party to the Security Agreement on behalf of the New Secured Parties under that [DESCRIBE OPERATIVE AGREEMENT] (the “New Secured Obligation”) and to act as the Authorized Representative for the New Secured
Parties; 
 (ii) acknowledges that the New Secured Parties have received a copy of the Security Agreement and the
Intercreditor Agreement; 
 (iii) appoints and authorizes the Collateral Agent to take such action as agent on
its behalf and on behalf of all other First Lien Secured Parties and to exercise such powers under the Security Agreement and the Intercreditor Agreement as are delegated to the Collateral Agent by the terms thereof, together with all such powers as
are reasonably incidental thereto; 
 (iv) accepts and acknowledges the terms of the Intercreditor Agreement
applicable to it and the New Secured Parties and agrees to serve as Authorized Representative for the New Secured Parties with respect to the New Secured Obligations and agrees on its own behalf and on behalf of the New Secured Parties to be bound
by the terms thereof applicable to holders of Permitted Debt Offering Obligations, with all the rights and obligations of a First Lien Secured Party thereunder and bound by all the provisions thereof (including, without limitation,
Section 2.02(b) thereof) as fully as if it had been a First Lien Secured Party on the effective date of the Intercreditor Agreement and agrees that its address for receiving notices pursuant to the Security Agreement and the First Lien Security
Documents (as defined in the Intercreditor Agreement) shall be as follows: 
 [Address] 

 [(v) elects to make the Permitted Debt Offering Obligations for which it is the Authorized
Representative be subject to Section 3.1(d) of the Security Agreement.] 
 The Collateral Agent, by acknowledging this
First Lien Secured Party Consent, accepts the appointment set forth in clause (iii) above. 
 THIS FIRST LIEN SECURED PARTY
CONSENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 IN
WITNESS WHEREOF, the undersigned has caused this First Lien Secured Party Consent to be duly executed by its authorized officer as of the      day of 20    . 

 

			
	[NAME OF AUTHORIZED REPRESENTATIVE]
		
	By:	 	  

	Name:	 	
	Title:	 	

 Acknowledged and Agreed 

CITIBANK, N.A., 
 as Collateral Agent 

 

			
	By:	 	  

	Name:	 	
	Title:	 	

 NIELSEN FINANCE LLC, a Delaware limited liability company 

The Grantors listed on Schedule I to the Security Agreement, 

each as Grantor 
  

			
	By:	 	  

	Name:	 	
	Title:	 	

  

 -2-Nielsen Holdings 2010 Stock Incentive Plan

 Exhibit 10.24 

NIELSEN HOLDINGS 2010 STOCK INCENTIVE PLAN 
  

	1.	Purpose of the Plan 

 The purpose of the
Plan is to aid the Company and its Subsidiaries in recruiting and retaining key employees, directors or other service providers and to motivate such employees, directors or other service providers to exert their best efforts on behalf of the Company
and its Subsidiaries by providing incentives through the granting of Awards. The Company expects that it will benefit from the added interest which such key employees, directors or other service providers will have in the welfare of the Company as a
result of their proprietary interest in the Company’s success. 
  

	2.	Definitions 

 The following capitalized
terms used in the Plan have the respective meanings set forth in this Section: 
 (a) 2006 Plan: The 2006 Stock
Acquisition And Option Plan For Key Employees Of Valcon Acquisition Holding B.V. and its Subsidiaries (as Amended and Restated). 

(b) Affiliate: With respect to any entity, any entity directly or indirectly controlling, controlled by, or under common control
with, such entity. 
 (c) Award: An Option, Stock Appreciation Right, Other Stock-Based Award or Performance-Based Award
granted pursuant to the Plan. 
 (d) Board: The Board of Directors of the Company. 

(e) Change in Control: the occurrence of any of the following events: 

(i) the sale or disposition, in one or a series of related transactions, of all or substantially all, of the assets of the Company to any
Person or Group other than the Permitted Holders; 
 (ii) any person or group, other than the Permitted Holders, is or becomes
the Beneficial Owner (except that a person shall be deemed to have “beneficial ownership” of all shares that any such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time),
directly or indirectly, of more than 50% of the total voting power of the voting stock of the Company (or any entity which controls the Company), including by way of merger, consolidation, tender or exchange offer or otherwise; 

(iii) a reorganization, recapitalization, merger or consolidation (a “Corporate Transaction”) involving the Company,
unless securities representing 50% or more of the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors of the Company or the corporation resulting from such Corporate Transaction (or
the parent of such corporation) are held subsequent to such transaction by the person or persons who were the Beneficial Owners of the outstanding voting securities entitled to vote generally in the election of directors of the Company immediately
prior to such Corporate Transaction; 

 (iv) during any rolling twenty-four (24) month period looking back from any given date,
individuals who at the beginning of such period constituted the Board (together with any new directors whose election by such Board or whose nomination for election by the shareholders of the Company was approved by a vote of a majority of the
directors of the Company, then still in office, who were either directors at the beginning of such period or whose election or nomination for election was previously so approved (including pursuant to the Investor Shareholder Agreement) (any such
director, an “Incumbent Director”) cease for any reason to constitute a majority of the Board, then in office; provided, that, no individual shall be an Incumbent Director who is elected or nominated as a director of the
Company (A) as a result of an actual or threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than the Board or (B) pursuant to an
agreement between Valcon Acquisition Holding (Luxembourg) S.à.r.l. (“Luxco”) or among one or more Investors (or any other shareholders of the Company) and a Third Party under which Luxco or the Investor is required to
nominate such director; or 
 (v) any transaction (including, without limitation, any merger, consolidation or sale of assets or
equity interests, or any acquisition of stock in the open market or otherwise) the result of which is that any Person or Group, other than any of the Investors or their Affiliates, obtains direct or indirect beneficial ownership of more than fifty
percent (50%) of the voting rights attached to the entire issued share capital of Luxco. 
 (f) Code: The Internal
Revenue Code of 1986, as amended, or any successor thereto, and the regulations and guidance promulgated thereunder. 
 (g)
Committee: (i) The Compensation Committee of the Board, and (ii) any subcommittee consisting solely of at least two individuals who are intended to qualify as “Non-Employee Directors” within the meaning of Rule 16b-3 under
the Exchange Act (or any successor rule thereto), “independent directors” within the meaning of the NYSE listed company rules and “outside directors” within the meaning of Section 162(m) of the Code (or any successor section
thereto), to the extent Rule 16b-3 under the Exchange Act and Section 162(m) of the Code, respectively, are applicable to the Company and the Plan, to which the Compensation Committee of the Board has delegated any of its duties, and such other
committee of the Board (including, without limitation, the full Board), in any such case to which the Compensation Committee of the Board has delegated power to act under or pursuant to the provisions of the Plan, as applicable. 

(h) Company: Nielsen Holdings B.V., a Netherlands entity which, shall be converted into a public company with limited liability
and, upon such conversion “Company” shall mean Nielsen Holdings N.V., a Netherlands entity. 
 (i) Effective
Date: The date the Board approves the Plan. 
 (j) Employment: The term “Employment” as used herein shall
be deemed to refer to (i) a Participant’s employment if the Participant is an employee of the Company or any of its Subsidiaries, (ii) a Participant’s services, if the Participant is another form of service provider to the
Company or any of its Subsidiaries, and (iii) a Participant’s services as a non-employee director, if the Participant is a non-employee member of the Board. 

 

 2 

 (k) Exchange Act: The Securities Exchange Act of 1934, as amended, or any successor
thereto. 
 (l) Fair Market Value: On a given date, (i) if there should be a public market for the Shares on such
date, the closing price of the Shares as reported on such date on the Composite Tape of the principal national securities exchange on which such Shares are listed or admitted to trading, or, if the Shares are not listed or admitted on any national
securities exchange, but are quoted on an inter-dealer quotation system, the final ask price for the Shares on such system on such date, or, if no sale of Shares shall have been reported on the Composite Tape of any national securities exchange or
quoted on an inter-dealer quotation system on such date, then the closing price or final ask price on the immediately preceding date on which sales of the Shares have been so reported or quoted shall be used, and (ii) if there should not be a
public market for the Shares on such date, the Fair Market Value shall be the fair market value of the Shares as determined by the Committee in good faith. 

(m) Group: means “group,” as such term is used for purposes of Section 13(d) or 14(d) of the Exchange Act.

 (n) Investors: means each of the investment funds associated with AlpInvest Partners, The Blackstone Group, The
Carlyle Group, Hellman & Friedman, Kohlberg Kravis Roberts, Co. and Thomas H. Lee Partners, or their successors and/or Affiliates, so long as they remain investors under that certain Shareholder’s Agreement regarding Nielsen Holdings
B.V., entered into on or about the Public Trading Date (the “Investor Shareholder Agreement”). 
 (o)
ISO: An Option that is also an incentive stock option granted pursuant to Section 6(d) of the Plan. 
 (p)
Option: A stock option granted pursuant to Section 6 of the Plan. 
 (q) Option Price: The purchase price per
Share of an Option, as determined pursuant to Section 6(a) of the Plan. 
 (r) Other Stock-Based Awards: Awards
granted pursuant to Section 8 of the Plan. 
 (s) Participant: An employee, director or other service provider of
the Company or any of its Subsidiaries who is selected by the Committee to participate in the Plan. 
 (t) Performance-Based
Awards: Awards granted pursuant to Section 9 of the Plan. 
 (u) Permanent Disability: or “Permanently
Disabled”: unless otherwise agreed by the Company (or any of its Subsidiaries) in a written employment agreement or employment letter with such Participant, or as specified in an Award agreement, as defined within the meaning of the term
“Disability” as set forth in Section 409A of the Code. The Permanent Disability determination shall be in the sole discretion of the Committee. 
  

 3 

 (v) Permitted Holder: Any and all of an employee benefit plan (or trust forming a
part thereof) maintained by (A) the Company or (B) any corporation or other Person of which a majority of its voting power of its voting equity securities or equity interest is owned, directly or indirectly, by the Company. 

(w) Person: “Person,” as such term is used for purposes of Section 13(d) or 14(d) of the Exchange Act. 

(x) Plan: The Nielsen Holdings 2010 Stock Incentive Plan, as it may be amended from time to time. 

(y) Public Trading Date: the first date upon which Shares are listed (or approved for listing) upon notice of issuance on any
national securities exchange. 
 (z) Shares: Shares of common stock of the Company. 

(aa) Stock Appreciation Right: A stock appreciation right granted pursuant to Section 7 of the Plan. 

(bb) Subsidiary: A subsidiary corporation, as defined in Section 424(f) of the Code (or any successor section thereto), or
any Subsidiary of the Company, or any Affiliate of the Company that satisfies the definition of “service recipient” within the meaning of Treasury Regulation Section 1.409A-1 (or any successor regulation), with respect to which the
person is a “service provider” (within the meaning of Treasury Regulation Section 1.409A-1(or any successor regulation) 

(cc) Third Party: A Person or Group that is not an Affiliate of the Company or any of the Investors as of the Public Trading Date.

  

	3.	Shares Subject to the Plan 

(a) Subject to Section 10, the total number of Shares which may available for Awards under the Plan is 19,392,000 Shares plus the
number of shares remaining available for award under the 2006 Plan as of the Effective Date and the maximum number of Shares for which incentive stock options may be granted is 9,696,000. The Shares may consist, in whole or in part, of unissued
Shares or treasury Shares. The issuance of Shares shall reduce the total number of Shares available under the Plan. Shares related to Awards or portions of Awards outstanding under the Plan and awards or portions of awards that are outstanding as of
the Effective Date under the 2006 Plan that are (a) forfeited, terminated, canceled, expire unexercised, (b) withheld or tendered to satisfy tax withholding obligations, the aggregate Option Price on the exercise of Options or the purchase
price for any other Award, or (c) repurchased by the Company, in each case, shall immediately become available for new Awards. If an Award is settled for cash (in whole or in part) or otherwise does not result in the issuance of all or a
portion of the Shares subject to such Award (including in connection with payment in Shares on exercise of a Stock Appreciation Right) such Shares shall, to the extent of such cash settlement or non-issuance, immediately become available for new
Awards. 
  

 4 

 (b) Awards may, in the discretion of the Committee, be made under the Plan in assumption of,
or in substitution for, outstanding awards previously granted by the Company or any of its Subsidiaries or a company acquired by the Company or with which the Company combines, subject to the limitations of Sections 6(f) and 7(d) below. The number
of Shares underlying awards made in assumption of, or in substitution for, outstanding awards previously granted by a company acquired by the Company or any of its Subsidiaries or with which the Company or any of its Subsidiaries combines shall not
be counted against the aggregate number of Shares available for Awards under the Plan, nor shall the Shares subject to such substitute awards become available for new Awards under the circumstances described in the prior paragraph of this
Section 3. In addition, in the event that a company acquired by the Company or any of its Subsidiaries or with which the Company or any of its Subsidiaries combines has shares available under a pre-existing plan approved by shareholders and not
adopted in contemplation of such acquisition or combination, the shares available for grant pursuant to the terms of such pre-existing plan (as adjusted, to the extent appropriate, using the exchange ratio or other adjustment or valuation ratio or
formula used in such acquisition or combination to determine the consideration payable to the holders of common stock of the entities party to such acquisition or combination) may be used for Awards under the Plan and shall not reduce the Shares
authorized for issuance; provided that Awards using such available shares shall not be made after the date awards or grants could have been made under the terms of the pre-existing plan, absent the acquisition or combination, and shall only be made
to individuals who were not employees or directors of the Company or any of its Subsidiaries prior to such acquisition or combination. 
  

	4.	Administration 

 (a) The
Plan shall be administered by the Committee; provided, however, that the Board may, in its sole discretion, take any action delegated to the Committee under this Plan as it may deem necessary. Notwithstanding anything in the Plan to
the contrary, to the extent required by Netherlands law, Awards granted pursuant to this Plan (to the extent they constitute options or other rights to acquire Shares) shall be deemed to have been granted subject to the approval of such Award
(including its terms and conditions as established by the Compensation Committee) by the Board (if and to the extent the Company’s general meeting of shareholders has delegated such authority to the Board) or by the Company’s general
meeting of shareholders itself (if and to the extent the Company’s general meeting of shareholders has not delegated such authority to the Board). No such authority from the Board or the Company’s general meeting of shareholders is
required for the issuance of Shares upon exercise of a validly granted Award. 
 (b) Subject to Section 16 of the Plan, the
Committee is authorized to (i) interpret the Plan, (ii) establish, amend and rescind any rules and regulations relating to the Plan, and (iii) make any other determinations that it deems necessary or desirable for the administration
of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or desirable. Any decision of the Committee in the interpretation and
administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, Participants and their beneficiaries or
successors). The Committee shall have the full power and authority to establish the terms and conditions of any Award consistent with the provisions of the Plan and to waive 

 

 5 

 
any such terms and conditions at any time (including, without limitation, accelerating or waiving any vesting conditions). The Committee may make Awards to Employees who are subject to the laws
of nations other than the United States, which Awards may have terms and conditions that differ from the terms of Awards granted to Employees in the United States as provided elsewhere in the Plan for the purpose of complying with foreign laws.

 (c) The Committee shall require payment of any amount it may determine to be necessary to withhold for federal, state, local
or other taxes as a result of the exercise, grant or vesting of an Award and the Company or any of its Subsidiaries shall have the right and is authorized to withhold any applicable withholding taxes in respect to the Award, its exercise or any
payment or transfer under or with respect to the Award and to take such other action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. To the extent permitted by the Committee,
the Participant may elect to pay a portion or all of such withholding taxes by (i) delivery of Shares, provided that such Shares have been held by the Participant for such period of time as the Company’s accountants may require or
(ii) with respect to minimum withholding amounts only, having Shares with a Fair Market Value equal to the amount withheld by the Company from any Shares that would have otherwise been received by the Participant (i.e., through a “net
settlement” of such minimum tax withholding due). 
  

	5.	Limitations 

 No Award may be granted
under the Plan after the tenth anniversary of the Effective Date, but Awards theretofore granted may extend beyond that date. 
  

	6.	Terms and Conditions of Options 

 Options
granted under the Plan shall be non-qualified stock options unless specifically identified as incentive stock options for federal income tax purposes, as determined by the Committee and evidenced by the related Award agreements, and shall be subject
to such other terms and conditions not inconsistent therewith. The maximum number of Shares in respect of which such Options may be granted during a fiscal year of the Company to any Participant shall be 2,000,000. In addition to the foregoing,
except as otherwise determined by the Committee and evidenced by the related Award agreements, the Options shall also be subject to the following terms and conditions: 

(a) Option Price. The Option Price per Share shall be determined by the Committee, but shall not be less than 100% of the Fair
Market Value of a Share on the date an Option is granted (other than in the case of Options granted in substitution of previously granted awards, as described in Section 3). For the avoidance of doubt, to the extent required by Netherlands law,
the Option Price shall not be less than the nominal value per Share in respect of which the Option is being exercised. 
 (b)
Exercisability. Options granted under the Plan shall be exercisable at such time and upon such terms and conditions as may be determined by the Committee, but in no event shall an Option be exercisable more than ten years after the date it is
granted; provided, however, in the event that any portion of an exercisable Option is scheduled to expire on such tenth anniversary date or otherwise scheduled to expire pursuant to the applicable Award agreement

  

 6 

 
and both (x) the date on which such portion of the Option is scheduled to expire falls during a Company blackout trading period applicable to the Participant (whether such period is imposed
at the election of the Company or is required by applicable law to be imposed) and (y) the exercise price per Share of such portion of the Option is less than the Fair Market Value, then on the date that such portion of the Option is scheduled
to expire, such portion of the Option (to the extent not previously exercised by the Participant) shall be automatically exercised on behalf of the Participant through a net settlement of both the exercise price and the minimum withholding taxes due
(if any) upon such automatic exercise (as described in Section 6(c)(v), below), and the net number of Shares resulting from such automatic exercise shall be delivered to the Participant as soon as practicable thereafter. 

(c) Exercise of Options. Except as otherwise provided in the Plan or in an Award agreement, an Option may be exercised for all, or
from time to time any part, of the Shares for which it is then exercisable. For purposes of Section 6 of the Plan, the exercise date of an Option shall be the later of the date a notice of exercise is received by the Company and, if applicable,
the date payment is received by the Company pursuant to clauses (i), (ii), (iii), (iv) or (v) in the following sentence. The purchase price for the Shares as to which an Option is exercised shall be paid to the Company in full at the time
of exercise at the election of the Participant: (i) in cash or its equivalent (e.g., by check); (ii) unless otherwise provided for by the Committee, at the election of the Participant, in Shares having a Fair Market Value equal to
the aggregate Option Price for the Shares being purchased and satisfying such other requirements as may be imposed by the Committee, provided, that such Shares have been held by the Participant for such period of time as the Company’s
accountants may require to avoid adverse accounting treatment; (iii) unless otherwise provided for by the Committee, partly in cash and partly in such Shares; (iv) if there is a public market for the Shares at such time, unless otherwise
provided for and subject to such rules as may be established by the Committee, through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out
of the proceeds of such sale equal to the aggregate Option Price for the Shares being purchased; or (v) allow for payment through a “net settlement” feature (i.e., having Shares with a Fair Market Value equal to the aggregate exercise
price in respect of the portion of the Option to be exercised withheld by the Company from any Shares that would have otherwise been received by the Participant). No Participant shall have any rights to dividends or other rights of a shareholder
with respect to Shares subject to an Option until the Participant has given written notice of exercise of the Option, paid in full for such Shares and, if applicable, has satisfied any other conditions imposed by the Committee pursuant to the Plan.

 (d) ISOs. The Committee may grant Options under the Plan that are intended to be “incentive stock options”
(within the meaning of Section 422 of the Code) (“ISOs”). Such ISOs shall comply with the requirements of Section 422 of the Code (or any successor section thereto). No ISO may be granted to any Participant who at the time
of such grant, owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any of its Subsidiaries, unless (i) the Option Price for such ISO is at least 110% of the Fair Market Value of
a Share on the date the ISO is granted and (ii) the date on which such ISO terminates is a date not later than the day preceding the fifth anniversary of the date on which the ISO is granted. Any Participant who disposes of Shares acquired upon
the exercise of an ISO either (x) within two years after the date of grant of such ISO or (y) within one year after the transfer of such Shares to the Participant, shall notify the Company of such disposition and of the

  

 7 

 
amount realized upon such disposition. All Options granted under the Plan are intended to be nonqualified stock options, unless the applicable Award agreement expressly states that the Option is
intended to be an ISO. If an Option is intended to be an ISO, and, if for any reason such Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such nonqualification, such Option (or portion thereof) shall be regarded as a
nonqualified stock option granted under the Plan; provided that such Option (or portion thereof) otherwise complies with the Plan’s requirements relating to nonqualified stock options. In no event shall any member of the Committee, the
Company or any of its Subsidiaries (or their respective employees, officers or directors) have any liability to any Participant (or any other Person) due to the failure of an Option to qualify for any reason as an ISO. 

(e) Attestation. Wherever in this Plan or any agreement evidencing an Award a Participant is permitted to pay the Option Price of
an Option or taxes relating to the exercise of an Option by delivering Shares, the Participant may, subject to procedures satisfactory to the Committee, satisfy such delivery requirement by presenting proof of beneficial ownership of such Shares, in
which case the Company shall treat the Option as exercised without further payment and shall withhold such number of Shares from the Shares acquired by the exercise of the Option. 

(f) Repricing of Options. Notwithstanding any provision herein to the contrary, the repricing of an Option, once granted
hereunder, is prohibited without prior approval of the Company’s shareholders. For this purpose, a “repricing” means any of the following (or any other action that has the same effect as any of the following): (i) changing the
terms of an Option to lower the Option Price; (ii) any other action that is treated as a “repricing” under generally accepted accounting principles; and (iii) repurchasing for cash or canceling an Option in exchange for another
Award at a time when the Option Price is greater than the Fair Market Value of the underlying Shares, unless the cancellation and exchange occurs in connection with a change in capitalization or similar change permitted under Section 10(a)
below. Such cancellation and exchange would be considered a “repricing” regardless of whether it is treated as a “repricing” under generally accepted accounting principles and regardless of whether it is voluntary on the part of
the Participant. 
  

	7.	Terms and Conditions of Stock Appreciation Rights 

(a) Grants. The Committee also may grant (i) a Stock Appreciation Right independent of an Option or (ii) a Stock
Appreciation Right in connection with an Option, or a portion thereof. The maximum number of Shares in respect of which such Stock Appreciation Rights may be granted during a fiscal year of the Company to any Participant shall be 2,000,000. A Stock
Appreciation Right granted pursuant to clause (ii) of the preceding sentence (A) may be granted at the time the related Option is granted or at any time prior to the exercise or cancellation of the related Option, (B) shall cover the
same number of Shares covered by an Option (or such lesser number of Shares as the Committee may determine) and (C) shall be subject to the same terms and conditions as such Option except for such additional limitations as are contemplated by
this Section 7 (or such additional limitations as may be included in an Award agreement). 
 (b) Terms. The exercise
price per Share of a Stock Appreciation Right shall be an amount determined by the Committee but in no event shall such amount be less than 100% of the 

 

 8 

 
Fair Market Value of a Share on the date the Stock Appreciation Right is granted (other than in the case of Stock Appreciation Rights granted in substitution of previously granted awards, as
described in Section 3); provided, however, that in the case of a Stock Appreciation Right granted in conjunction with an Option, or a portion thereof, the exercise price may not be less than the Option Price of the related
Option; and provided, further, that the exercise price of a Stock Appreciation Right that is granted in exchange for an Option may be less than the Fair Market Value on the grant date if such exercise price is equal to the Option Price of the
exchanged Option. For the avoidance of doubt, to the extent required by Netherlands law, the exercise price per Share of a Stock Appreciation Right shall not be less than the nominal value per Share in respect of which the Stock Appreciation Right
is being exercised. Each Stock Appreciation Right granted independent of an Option shall entitle a Participant upon exercise to an amount equal to (i) the excess of (A) the Fair Market Value on the exercise date of one Share over
(B) the exercise price per Share, times (ii) the number of Shares covered by the Stock Appreciation Right. Each Stock Appreciation Right granted in conjunction with an Option, or a portion thereof, shall entitle a Participant to surrender
to the Company the unexercised Option, or any portion thereof, and to receive from the Company in exchange therefor an amount equal to (i) the excess of (A) the Fair Market Value on the exercise date of one Share over (B) the Option
Price per Share, times (ii) the number of Shares covered by the Option, or portion thereof, which is surrendered. The date a notice of exercise is received by the Company shall be the exercise date. Payment to the Participant shall be made in
Shares or in cash, or partly in Shares and partly in cash (any such Shares valued at such Fair Market Value), all as shall be determined by the Committee. Stock Appreciation Rights may be exercised from time to time upon actual receipt by the
Company of written notice of exercise stating the number of Shares with respect to which the Stock Appreciation Right is being exercised. No fractional Shares will be issued in payment for Stock Appreciation Rights, but instead cash will be paid for
a fraction or, if the Committee should so determine, the number of Shares will be rounded downward to the next whole Share. 

(c) Limitations. The Committee may impose, in its discretion, such conditions upon the exercisability or transferability of Stock
Appreciation Rights as it may deem fit, but in no event shall a Stock Appreciation Right be exercisable more than ten years after the date it is granted. 

(d) Repricing of Stock Appreciation Rights. Notwithstanding any provision herein to the contrary, the repricing of a Stock
Appreciation Right, once granted hereunder, is prohibited without prior approval of the Company’s shareholders. For this purpose, a “repricing” means any of the following (or any other action that has the same effect as any of the
following): (i) changing the terms of a Stock Appreciation Right to lower its exercise price; (ii) any other action that is treated as a “repricing” under generally accepted accounting principles; and (iii) repurchasing for
cash or canceling a Stock Appreciation Right in exchange for another Award at a time when its exercise price is greater than the Fair Market Value of the underlying Shares, unless the cancellation and exchange occurs in connection with a change in
capitalization or similar change permitted under Section 10(a) of the Plan. Such cancellation and exchange would be considered a “repricing” regardless of whether it is treated as a “repricing” under generally accepted
accounting principles and regardless of whether it is voluntary on the part of the Participant. 
  

 9 

	8.	Other Stock-Based Awards 

The Committee, in its sole discretion, may grant or sell Awards of Shares, Awards of restricted Shares, Awards of restricted stock units,
and Awards that are valued in whole or in part by reference to, or are otherwise based on the Fair Market Value of Shares (such Awards, “Other Stock-Based Awards”). Such Other Stock-Based Awards shall be in such form, and dependent
on such conditions, as the Committee shall determine, including, without limitation, the right to receive, or vest with respect to, one or more Shares (or the equivalent cash value of such Shares) upon the completion of a specified period of
service, the occurrence of an event and/or the attainment of performance objectives. Other Stock-Based Awards may be granted alone or in addition to any other Awards granted under the Plan. Subject to the provisions of the Plan, the Committee shall
determine to whom and when Other Stock-Based Awards will be made, the number of Shares to be awarded under (or otherwise related to) such Other Stock-Based Awards, whether such Other Stock-Based Awards shall be settled in cash, Shares or a
combination of cash and Shares, and all other terms and conditions of such Awards (including, without limitation, the vesting provisions thereof and provisions ensuring that all Shares so awarded and issued shall be fully paid and non-assessable).
For the avoidance of doubt, to the extent required by Netherlands law, the price paid per Share for Shares awarded in respect of Other Stock-Based Awards shall not be less than the nominal value of the underlying Share. 

 

	9.	Performance-Based Awards 

(a) The Committee, in its sole discretion, may grant Awards which are denominated in Shares or cash (which, for the avoidance of doubt,
may include an Award of Options, Stock Appreciation Rights, and Other Stock-Based Awards) (such Awards, “Performance-Based Awards”), which Awards may, but for the avoidance of doubt are not required to, be granted in a manner which
is intended to be deductible by the Company under Section 162(m) of the Code (or any successor section thereto). Such Performance-Based Awards shall be in such form, and dependent on such conditions, as the Committee shall determine, including,
without limitation, the right to receive, or vest with respect to, one or more Shares or the cash value of the Award upon the completion of a specified period of service, the occurrence of an event and/or the attainment of performance objectives.
Performance-Based Awards may be granted alone or in addition to any other Awards granted under the Plan. For the avoidance of doubt, to the extent required by Netherlands law, the price paid per Share for Shares awarded in respect of
Performance-Based Awards shall not be less than the nominal value of the underlying Share. Subject to the provisions of the Plan, the Committee shall determine to whom and when Performance-Based Awards will be made, the number of Shares or aggregate
amount of cash to be awarded under (or otherwise related to) such Performance-Based Awards, whether such Performance-Based Awards shall be settled in cash, Shares or a combination of cash and Shares, and all other terms and conditions of such Awards
(including, without limitation, the vesting provisions thereof and provisions ensuring that all Shares so awarded and issued, to the extent applicable, shall be fully paid and non-assessable). 

(b) A Participant’s Performance-Based Award shall be determined based on the attainment of written performance goals approved by the
Committee for a performance period established by the Committee (i) while the outcome for that performance period is substantially uncertain and (ii) no more than 90 days after the commencement of the performance period to which the
performance goal relates or, if less, the number of days which is equal to 25 percent of 
  

 10 

 
the relevant performance period. The performance goals, which must be objective, shall be based upon one or more of the following criteria: (i) consolidated income before or after taxes
(including income before interest, taxes, depreciation and amortization); (ii) EBITDA; (iii) adjusted EBITDA; (iv) operating income; (v) net income; (vi) adjusted cash net income; (vii) adjusted cash net income per
Share; (viii) net income per Share; (ix) book value per Share; (x) return on members’ or shareholders’ equity; (xi) expense management; (xii) return on investment; (xiii) improvements in capital structure;
(xiv) profitability of an identifiable business unit or product; (xv) maintenance or improvement of profit margins; (xvi) stock price; (xvii) market share; (xviii) revenue or sales; (xiv) costs; (xx) cash flow;
(xxi) working capital; (xxii) multiple of invested capital; (xxiii) total return; and (xxiv) such other objective performance criteria as determined by the Committee in its sole discretion, to the extent such criteria would be a
permissible performance criteria under Section 162(m) of the Code. The foregoing criteria may relate to the Company, one or more of its Subsidiaries or one or more of its or their divisions or units, or any combination of the foregoing, and may
be applied on an absolute basis and/or be relative to one or more peer group companies or indices, or any combination thereof, all as the Committee shall determine. In addition, to the degree consistent with Section 162(m) of the Code (or any
successor section thereto), the performance goals may be calculated without regard to extraordinary items. The maximum amount of a Performance-Based Award granted in respect of any given performance period that may be earned during each fiscal year
of the Company covered by the performance period by any Participant shall be: (x) with respect to Performance-Based Awards that are denominated in Shares, 1,000,000 Shares and (y) with respect to Performance-Based Awards that are
denominated in cash, $10,000,000. For the avoidance of doubt, to the extent that a Performance-Based Award may be earned over a period that is longer than one fiscal year of the Company, the foregoing limitations shall apply to each full or partial
fiscal year during or in which such Award may be earned, and such limitations shall apply individually to each Performance-Based Award and not in the aggregate, to the extent multiple Performance-Based Awards are granted in respect of performance
periods that contain overlapping fiscal years of the Company. 
 (c) The Committee shall determine whether, with respect to a
performance period, the applicable performance goals have been met with respect to a given Participant and, if they have, during any period when Section 162(m) of the Code is applicable to the Company and the Plan and such Performance-Based
Award is intended to be deductible by the Company under Section 162(m) of the Code, shall so certify and ascertain the amount of the applicable Performance-Based Award. No Performance-Based Awards will be paid for such performance period until
such certification, to the extent applicable, is made by the Committee. The amount of the Performance-Based Award actually paid to a given Participant may be less than the amount determined by the applicable performance goal formula, at the
discretion of the Committee. The amount of the Performance-Based Award determined by the Committee for a performance period shall be paid to the Participant at such time as determined by the Committee in its sole discretion after the end of such
performance period; provided, however, that a Participant may, if and to the extent permitted by the Committee and consistent with the provisions of Sections 162(m) and 409A of the Code, to the extent applicable, elect to defer payment of a
Performance-Based Award. 
  

 11 

	10.	Adjustments Upon Certain Events 

Notwithstanding any other provisions in the Plan to the contrary, the following provisions shall apply to all Awards granted under the Plan: 

(a) Generally. In the event of any Share dividend or split, reorganization, recapitalization, merger, consolidation, spin-off,
combination, or transaction or exchange of Shares or other corporate exchange, any equity restructuring (as defined under Financial Accounting Standards Board (FASB) Accounting Standards Codification 718), or any distribution to shareholders other
than regular cash dividends or any transaction similar to the foregoing, the Committee in its sole discretion and without liability to any Person shall make such substitution or adjustment as it deems reasonably necessary to address, on an equitable
basis, the effect of such event (subject to Section 20), as to (i) the number or kind of Shares or other securities issued or reserved for issuance pursuant to the Plan or pursuant to outstanding Awards, (ii) the maximum number of
Shares for which Options or Stock Appreciation Rights may be granted during a fiscal year to any Participant, (iii) the maximum amount of a Performance Based Award that may be granted during a fiscal year to any Participant, (iv) the
Option Price or exercise price of any Award and/or (v) any other affected terms of such Awards. 
 (b) Change in
Control. In the event of a Change in Control that occurs after the Effective Date, unless the Committee otherwise provides in any applicable Award agreement at the time of the initial grant or in connection with the Change in Control:

 (i) If the successor or acquiring entity in the Change in Control does not agree to provide for the issuance of substitute
Awards on an equitable basis in a manner consistent with Section 10(a) of the Plan (such Awards, “Substitute Awards”), as determined by the Committee in its sole discretion, then (x) any outstanding Awards held by a
Participant at the effective time of such Change of Control that are unexercisable or otherwise unvested or subject to lapse restrictions and are not assumed by a successor corporation in connection with such Change in Control shall automatically be
deemed exercisable or otherwise vested or no longer subject to lapse restrictions and (y) the Committee shall (subject to Section 20 of the Plan), (A) cancel Awards for fair value (as determined in the sole discretion of the
Committee), to the extent permitted under Section 409A of the Code, which, in the case of Options and Stock Appreciation Rights, may equal the excess, if any, of value of the consideration to be paid in the Change in Control transaction to
holders of the same number of Shares subject to such Options or Stock Appreciation Rights (or, if no consideration is paid in any such transaction, the Fair Market Value of the Shares subject to such Options or Stock Appreciation Rights) over the
aggregate Option Price or exercise price of such Options or Stock Appreciation Rights, or (B) provide that for a period of at least ten (10) days prior to the Change in Control, such Awards shall be exercisable, to the extent applicable,
as to all Shares subject thereto and the Committee may further provide that upon the occurrence of the Change in Control, such Awards shall terminate and be of no further force and effect. For the avoidance of doubt, pursuant to clause
(A) above, the Committee may cancel Options and Stock Appreciation Rights for no consideration if the aggregate Fair Market Value of the Shares subject to such Options or Stock Appreciation Rights is less than or equal to the aggregate Option
Price of such Options or exercise price of such Stock Appreciation Rights. 
  

 12 

 (ii) If the successor or acquiring entity in the Change in Control does agree to provide
for the issuance of Substitute Awards, then any outstanding Awards held by a Participant at the effective time of such Change of Control that are unexercisable or otherwise unvested or subject to lapse restrictions shall not automatically be
deemed exercisable or otherwise vested or no longer subject to lapse restrictions, as the case may be, as of the date of the Change in Control; provided, however, that if, at any time during the two-year period following a Change in
Control the Participant’s Employment with the Company and its Subsidiaries is terminated under a circumstance that would give rise to the Participant’s right to the payment of severance compensation pursuant to any Company or Subsidiary
severance plan, policy, arrangement or agreement, as of such date of termination, any then-unvested Awards outstanding hereunder shall become automatically be deemed exercisable or otherwise vested or no longer subject to lapse restrictions.

 (iii) If the Committee establishes terms for the vesting or exercisability of any Award in connection with a Change in
Control that vary from the provisions set forth above in this Section 10(b) (i.e., the Committee provides for the vesting of an unvested Award at the time of a Change in Control where the acquiring or successor entity has agreed to provide for
the issuance of Substitute Awards), then the same such terms must apply to all other Awards having substantially similar vesting or exercisability terms that are held by all other Participants as of such time. For the avoidance of doubt, at the time
of a Change in Control, the Committee shall not be required to provide for similar treatment of Awards that are subject to vesting and exercisability terms that are dissimilar. 

 

	11.	Forfeiture/Clawback 

 The Committee may,
in its sole discretion, specify in an Award or a policy that will be incorporated into an Award agreement by reference, that the Participant’s rights, payments, and benefits with respect to an Award shall be subject to reduction, cancellation,
forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of Employment for
cause, termination of the Participant’s provision of services to the Company or any of its Subsidiaries, breach of noncompetition, confidentiality, or other restrictive covenants that may apply to the Participant, or restatement of the
Company’s financial statements to reflect adverse results from those previously released financial statements, as a consequence of errors, omissions, fraud, or misconduct. 

 

	12.	No Right to Employment or Awards 

 The
granting of an Award under the Plan shall impose no obligation on the Company or any of its Subsidiaries to continue the Employment of a Participant and shall not lessen or affect the Company’s or any Subsidiary’s right to terminate the
Employment of such Participant. No Participant or other Person shall have any claim to be granted any Award, and there is no obligation for uniformity of treatment of Participants, or holders or beneficiaries of Awards. The terms and conditions of
Awards and the Committee’s determinations and interpretations with respect thereto need not be the same with respect to each Participant (whether or not such Participants are similarly situated). 

 

 13 

	13.	Securities Laws 

 The Board may refuse to
instruct the Company to issue or transfer any Shares or other consideration under an Award if, acting in its sole discretion, it determines that the issuance or transfer of such Shares or such other consideration might violate any applicable law or
regulation and any payment tendered to the Company by a Participant, other holder or beneficiary in connection with the exercise of such Award shall be promptly refunded to the relevant Participant, holder or beneficiary. Without limiting the
generality of the foregoing, no Award granted hereunder shall be construed as an offer to sell securities of the Company, and no such offer shall be outstanding, unless and until the Committee in its sole discretion has determined that any such
offer, if made, would be in compliance with all applicable requirements of applicable securities laws, including, without limitation, laws of the United States (and any state thereof), and the Netherlands. 

 

	14.	Successors and Assigns 

 The Plan shall be
binding on all successors and assigns of the Company and a Participant, including without limitation, the estate of such Participant and the executor, administrator or trustee of such estate, or any receiver or trustee in bankruptcy or
representative of the Participant’s creditors. 
  

	15.	Nontransferability of Awards 

 Unless
otherwise determined by the Committee, an Award shall not be transferable or assignable by the Participant otherwise than by will or by the laws of descent and distribution. An Award exercisable after the death of a Participant may be exercised by
the legatees, personal representatives or distributees of the Participant. 
  

	16.	Amendments or Termination 

 Subject to the
limitations imposed under Sections 6(d) and 7(f) of this Plan, the Board may amend, alter or discontinue the Plan or any outstanding Award, but no amendment, alteration or discontinuation shall be made, (a) without the approval of the
shareholders of the Company to the extent such approval is (i) required by or (ii) desirable to satisfy the requirements of, in each case, any applicable law, regulation or other rule, including, the listing standards of the securities
exchange, which is, at the applicable time, the principal market for the Shares, (b) without the consent of a Participant, if such action would materially and adversely affect any of the rights of the Participant under any Award theretofore
granted to such Participant under the Plan; provided, however, that the Committee may amend the Plan in such manner as it deems necessary to permit the granting of Awards meeting the requirements of the Code or other applicable laws
(including, without limitation, to avoid adverse tax or accounting consequences to the Company or to Participants). 
  

	17.	International Participants 

 With respect
to Participants who reside or work outside the United States of America and who are not (and who are not expected to be) “covered employees” within the meaning of Section 162(m) of the Code, the Committee may, in its sole discretion,
amend the terms of the Plan or 
  

 14 

 
Awards with respect to such Participants in order to conform such terms with the requirements of local law or to obtain more favorable tax or other treatment for a Participant, the Company or a
Subsidiary. 
  

	18.	Choice of Law 

 The Plan shall be governed
by and construed in accordance with the laws of the State of New York without regard to conflicts of laws, except to the extent that the matter in question is mandatorily required to be governed by Netherlands law, in which case it will be governed
by the applicable provision of Netherlands law. 
  

	19.	Effectiveness of the Plan 

 The Plan shall
be effective as of the Effective Date, subject to the approval of the shareholders of the Company. 
  

	20.	Section 409A of the Code 

 To the
extent applicable, this Plan and all Awards granted hereunder are intended to comply with or be exempt from Section 409A of the Code and will be interpreted in a manner intended to comply with Section 409A of the Code. References under the
Plan or an Award to the Participant’s termination of Employment shall be deemed to refer to the date upon which the Participant has experienced a “separation from service” within the meaning of Section 409A of the Code.
Notwithstanding anything herein to the contrary, (a) if at the time of the Participant’s separation from service with any Service Recipient the Participant is a “specified employee” as defined in Section 409A of the Code,
and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such separation from service is necessary in order to prevent the imposition of any accelerated or additional tax under Section 409A of
the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Participant) to the minimum extent necessary to
satisfy Section 409A of the Code until the date that is six months and one day following the Participant’s separation from service with all Service Recipients (or the earliest date as is permitted under Section 409A of the Code), if
such payment or benefit is payable upon a termination of Employment and (b) if any other payments of money or other benefits due to the Participant hereunder would cause the application of an accelerated or additional tax under
Section 409A of the Code, such payments or other benefits shall be deferred, if deferral will make such payment or other benefits compliant under Section 409A of the Code, or otherwise such payment or other benefits shall be restructured,
to the minimum extent necessary, in a manner, reasonably determined by the Committee, that does not cause such an accelerated or additional tax or result in an additional cost to the Company (without any reduction in such payments or benefits
ultimately paid or provided to the Participant). 
  

 15

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