Document:

EX-10.6

 Exhibit 10.6 
  

 
  

SECURITY AGREEMENT 

among 
 OREXIGEN
THERAPEUTICS, INC., 
 as Issuer, 

and 
 THE GUARANTORS
PARTY HERETO FROM TIME TO TIME, 
 as Guarantors 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Collateral Agent 

Dated as of March [    ], 2016 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	Page(s)	 
		
	 ARTICLE I DEFINITIONS AND INTERPRETATION
	  	 	1	  
			
	 SECTION 1.1
	    	 Definitions
	  	 	1	  
	 SECTION 1.2
	    	 Interpretation
	  	 	6	  
	 SECTION 1.3
	    	 Resolution of Drafting Ambiguities
	  	 	6	  
		
	 ARTICLE II GRANT OF SECURITY AND SECURED OBLIGATIONS
	  	 	6	  
			
	 SECTION 2.1
	    	 Grant of Security Interest
	  	 	6	  
	 SECTION 2.2
	    	 Filings
	  	 	7	  
	 SECTION 2.3
	    	 Control Agreements
	  	 	8	  
		
	 ARTICLE III PERFECTION; SUPPLEMENTS; FURTHER ASSURANCES; USE OF PLEDGED COLLATERAL
	  	 	9	  
			
	 SECTION 3.1
	    	 Delivery of Certificated Securities Collateral
	  	 	9	  
	 SECTION 3.2
	    	 Perfection of Other Securities Collateral
	  	 	10	  
	 SECTION 3.3
	    	 Financing Statements and Other Filings; Maintenance of Perfected Security Interest
	  	 	11	  
	 SECTION 3.4
	    	 Other Actions
	  	 	11	  
	 SECTION 3.5
	    	 Joinder of Additional Guarantors
	  	 	12	  
		
	 ARTICLE IV REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	13	  
			
	 SECTION 4.1
	    	 Title; Consent
	  	 	13	  
	 SECTION 4.2
	    	 Validity of Security Interest
	  	 	13	  
	 SECTION 4.3
	    	 Defense of Claims
	  	 	14	  
	 SECTION 4.4
	    	 Other Financing Statements
	  	 	14	  
	 SECTION 4.5
	    	 Chief Executive Office; Change of Name; Jurisdiction of Organization, etc.
	  	 	14	  
	 SECTION 4.6
	    	 Due Authorization and Issuance
	  	 	14	  
	 SECTION 4.7
	    	 Pledged Collateral
	  	 	14	  
		
	 ARTICLE V CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL
	  	 	15	  
			
	 SECTION 5.1
	    	 Voting Rights; Distributions; etc.
	  	 	15	  
		
	 ARTICLE VI CERTAIN PROVISIONS CONCERNING INTELLECTUAL PROPERTY COLLATERAL
	  	 	16	  
			
	 SECTION 6.1
	    	 Grant of License
	  	 	16	  
	 SECTION 6.2
	    	 Scheduled Intellectual Property
	  	 	16	  
	 SECTION 6.4
	    	 Protection of Collateral Agent’s Security
	  	 	17	  
	 SECTION 6.5
	    	 After-Acquired Property
	  	 	17	  
	 SECTION 6.6
	    	 Litigation
	  	 	18	  
		
	ARTICLE VII MAINTENANCE OF RECORDS	  	 	18	  

  
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	 ARTICLE VIII REMEDIES
	  	 	18	  
			
	 SECTION 8.1
	    	 Remedies
	  	 	18	  
	 SECTION 8.2
	    	 Notice of Sale
	  	 	20	  
	 SECTION 8.3
	    	 Waiver of Claims; Other Waivers; Marshalling
	  	 	20	  
	 SECTION 8.4
	    	 Standards for Exercising Rights and Remedies
	  	 	21	  
	 SECTION 8.5
	    	 Certain Sales of Pledged Collateral
	  	 	21	  
	 SECTION 8.6
	    	 No Waiver; Cumulative Remedies
	  	 	22	  
		
	 ARTICLE IX APPLICATION OF PROCEEDS
	  	 	23	  
		
	 ARTICLE X MISCELLANEOUS
	  	 	23	  
			
	 SECTION 10.1
	    	 Collateral Agent Appointed Attorney-in-Fact
	  	 	23	  
	 SECTION 10.2
	    	 Continuing Security Interest
	  	 	23	  
	 SECTION 10.3
	    	 Termination; Release
	  	 	23	  
	 SECTION 10.4
	    	 Modification in Writing
	  	 	24	  
	 SECTION 10.5
	    	 Notices
	  	 	24	  
	 SECTION 10.6
	    	 Governing Law and Consent to Jurisdiction; Waiver of Jury Trial
	  	 	24	  
	 SECTION 10.7
	    	 Severability of Provisions
	  	 	24	  
	 SECTION 10.8
	    	 Execution in Counterparts
	  	 	24	  
	 SECTION 10.9
	    	 Business Days
	  	 	24	  
	 SECTION 10.10
	    	 No Claims Against Collateral Agent
	  	 	25	  
	 SECTION 10.11
	    	 Obligations Absolute
	  	 	25	  
	 SECTION 10.12
	    	 Concerning the Collateral Agent
	  	 	25	  

  
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	 SCHEDULES
	  	
		
	 Schedule 1
	  	 Commercial Tort Claims

	 Schedule 2
	  	 Letters of Credit

	 Schedule 3
	  	 Filing Offices

		
	EXHIBITS	  	
		
	 Exhibit 1
	  	 Form of Joinder Agreement

	 Exhibit 2
	  	 Form of Copyright Security Agreement

	 Exhibit 3
	  	 Form of Patent Security Agreement

	 Exhibit 4
	  	 Form of Trademark Security Agreement

  
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 SECURITY AGREEMENT 

This SECURITY AGREEMENT, dated as of March [    ], 2016 (as amended, restated, amended and restated, supplemented or
otherwise modified from time to time in accordance with the provisions hereof, including by one or more Joinder Agreements, or otherwise, this “Agreement”), is made by and among Orexigen Therapeutics, Inc., a Delaware corporation
(“Issuer”), and the Subsidiaries of Issuer from time to time party hereto by execution of a Joinder Agreement (the “Guarantors”), as pledgors, assignors and debtors (Issuer, together with the Guarantors, in such
capacities and together with any successors in such capacities, the “Pledgors,” and each, a “Pledgor”), and U.S. Bank National Association, a national banking association, solely in its capacity as collateral agent
pursuant to the Indenture, as pledgee, assignee and secured party (in such capacities and together with any successors in such capacities, the “Collateral Agent”). 

R E C I T A L S: 

A. In connection with the execution and delivery of this Agreement, Issuer, U.S. Bank National Association, as trustee and the Collateral
Agent, and the other parties party thereto have entered into that certain Indenture, dated as of March [    ], 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the
“Indenture”). 
 B. Issuer will receive substantial benefits from the execution and delivery of the Indenture and the other
Notes Documents and is, therefore, willing to enter into this Agreement. 
 C. This Agreement is given by Pledgor in favor of the Collateral
Agent for the benefit of the Secured Parties to secure the payment and performance of all of the Obligations. 
 D. It is a condition to the
issuance of the Notes that Issuer executes and delivers the applicable Notes Documents, including this Agreement. 
  

A G R E E M E N T: 

NOW THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, each Pledgor and the Collateral Agent hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETATION 

SECTION 1.1 Definitions. (a) Unless otherwise defined herein or in the Indenture, capitalized terms used herein that are
defined in the UCC shall have the meanings assigned to them in the UCC (provided, that the term “Instrument” shall have the meaning specified in Article 9 of the UCC). 

(b) Terms used (including in the preamble and recitals hereto) but not otherwise defined herein that are defined in the Indenture shall have
the meanings given to them in the Indenture. 
 (c) The following terms shall have the following meanings: 

“Acquired Blocked Account” shall have the meaning assigned to such term in Section 2.3(b). 

“Agreement” shall have the meaning assigned to such term in the preamble hereof. 

  
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 “Blocked Account” shall mean, collectively, the Existing Blocked Accounts, the
New Blocked Accounts and the Acquired Blocked Accounts. 
 “Collateral Agent” shall have the meaning assigned to such term
in the preamble hereof. 
 “Control” means with respect to any asset, right or property with respect to which a security
interest therein is perfected by a Secured Party’s having “control” thereof (whether pursuant to the terms of an agreement or through the existence of certain facts and circumstances), that the intended Secured Party has
“control” of such asset, right, or property as contemplated in the UCC and otherwise on terms reasonably acceptable to the Controlling Party. 

“Copyright Security Agreement” shall mean an agreement substantially in the form annexed hereto as
Exhibit 2. 
 “Copyrights” shall mean, collectively all works of authorship (whether protected by
statutory or common law copyright, whether established or registered in the United States or any other country, multi-national registry, or any political subdivision thereof, whether registered or unregistered and whether published or unpublished)
and all copyright registrations and applications therefor, including the copyright registrations and applications listed in Section 10(a) of the Perfection Certificate, together with any and all restorations, renewals and extensions thereof
and amendments thereto. 
 “Deliverable Intercompany Notes” shall mean, with respect to each Pledgor, all Pledged
Intercompany Notes owed to such Pledgor, other than (i) any Pledged Intercompany Note that is in an aggregate principal amount of less than $2,000,000 or (ii) any Pledged Intercompany Note owed by another Pledgor. 

“Distributions” shall mean, collectively, with respect to each Pledgor, all dividends, cash, options, warrants, rights,
instruments, distributions, returns of capital or principal, income, interest, profits and other property, interests (debt or equity) or proceeds, including as a result of a split, revision, reclassification or other like change of the Pledged
Securities, from time to time received, receivable or otherwise distributed to such Pledgor in respect of or in exchange for any or all of the Pledged Securities or Pledged Intercompany Notes. 

“Excluded Account” shall mean, collectively, with respect to each Pledgor, (i) Deposit Accounts exclusively used for payroll,
payroll taxes and other employee wage and benefit payments to or for the benefit of Note Parties’ employees, (ii) tax accounts, including, without limitation, sales tax accounts, (iii) escrow accounts, (iv) fiduciary or trust accounts, (v) zero
balance accounts that sweep on a daily basis to a Blocked Account, (vi) Federal A/R Accounts, and (vii) collateral accounts pledged to secure performance (including to secure letters of credit and bank guarantees) to the extent constituting
Permitted Liens. 
 “Excluded Assets” shall mean (A) any fee-owned Real Property located outside the United States and any
leasehold interest in Real Property located outside the United States, (B) all Vehicles and other assets covered by a certificate of title (except to the extent a security interest therein can be perfected by the filing of a UCC financing statement
or the equivalent under other applicable law), (C) any lease, license or agreement or any Property subject to a purchase money security interest or Capital Lease Obligation, in each case, to the extent that a grant of a security interest therein
would violate or invalidate such lease, license or agreement or purchase money or capital lease arrangement or create a right of termination in favor of any other party thereto (other than any Pledgor) after giving effect to the applicable anti-assignment provisions of the UCC or other applicable law, other than the proceeds and receivables thereof the assignment of which is expressly deemed effective under the UCC or other

  
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applicable law notwithstanding such prohibition, (D) any Excluded Capital Stock, (E) any Property where the cost of obtaining a security interest in, or perfection of, such assets exceeds the
practical benefit to the Lenders afforded thereby as reasonably determined by Issuer and the Controlling Party, (F) any intent-to-use application for registration of a Trademark prior to the filing of a “Statement of Use” or an
“Amendment to Allege Use” with respect thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use
Trademark application or any registration issuing therefrom under applicable federal law, and (G) any assets the grant of a security interest in which would be prohibited by applicable law but only, in each case, to the extent, and only for so long
as, such prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the UCC, any other laws (including the Debtor Relief Laws), or principles of equity, and, to the extent severable, shall attach immediately to any
portion of such assets that do not result in such prohibition; provided that immediately upon the ineffectiveness, lapse or termination of any such prohibition, the Collateral shall include, and such Pledgor shall be deemed to have granted a
security interest in, such assets as if such provision had never been in effect. 
 “Existing Blocked Account” shall have
the meaning assigned to such term in Section 2.3(a). 
 “Federal A/R Account” shall mean any Deposit Account into
which the only deposits made are payments on Medicare or Medicaid accounts receivable or other accounts receivable under which the United States federal government is the account debtor and so long as such Deposit Account is subject to a daily
sweep, pursuant to an agreement between the Collateral Agent, the Pledgor and the applicable depository bank in form and substance reasonably satisfactory to the Controlling Party, into a Blocked Account. 

“Guarantors” shall have the meaning assigned to such term in the preamble hereof. 

“Indenture” shall have the meaning assigned to such term in the recitals hereof. 

“Intellectual Property” shall mean, collectively, all domestic, foreign and multi-national intellectual property rights of
any kind, whether now or hereafter existing, including, without limitation, all Patents, Trademarks, Copyrights and Trade Secrets, together with any and all (i) rights and privileges arising under applicable law with respect to the use of any
of the foregoing, (ii) rights to proceeds, income, fees, royalties, damages and payments now and hereafter due and/or payable thereunder and with respect thereto, including damages, claims and payments for past, present or future infringements,
misappropriations, dilutions or other violations thereof, (iii) rights to sue or otherwise recover for past, present and future infringements, misappropriations, dilutions or other violations thereof and (iv) rights corresponding thereto
throughout the world. 
 “Intellectual Property Collateral” shall mean, with respect to each Pledgor, all Intellectual
Property of such Pledgor (including Licenses), whether now owned or held, or hereafter acquired or created by or assigned to such Pledgor; provided, that notwithstanding any of the foregoing, Intellectual Property Collateral shall not include
any Excluded Assets. 
 “Issuer” shall have the meaning assigned to such term in the preamble hereof. 

“Joinder Agreement” shall mean an agreement substantially in the form annexed hereto as Exhibit 1.

 “Licenses” shall mean all licenses, covenants not to sue and any other agreement granting any right with respect to any
Intellectual Property (whether a Pledgor is the grantor or grantee thereunder). 

  
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 “Material Adverse Effect” shall have the meaning assigned to such term in the
Purchase Agreement. 
 “Material IP Collateral” shall mean any Intellectual Property Collateral that is material to the
business of any Pledgor or is otherwise of material value. 
 “New Blocked Account” shall have the meaning assigned to such
term in Section 2.3(b). 
 “Order” shall mean any judgment, decree, verdict, order, consent order, consent decree,
writ, declaration or injunction. 
 “Organization Documents” mean, collectively, with respect to any Person, (a) in the
case of any corporation, the certificate of incorporation and by-laws (or similar constitutive documents) of such Person, (b) in the case of any limited liability company, the certificate of formation and operating agreement (or similar constitutive
documents) of such Person, (c) in the case of any limited partnership, the certificate of formation and limited partnership agreement (or similar constitutive documents) of such Person, (d) in the case of any general partnership, the partnership
agreement (or similar constitutive document) of such Person and (e) in any other case, the functional equivalent of the foregoing. 

“Patent Security Agreement” shall mean an agreement substantially in the form annexed hereto as
Exhibit 3. 
 “Patents” shall mean, collectively, all patents and all patent registrations and
applications issued or applied for in the United States or any other country, multi-national registry, or any political subdivision thereof, including those listed in Section 10(c) of the Perfection Certificate, together
with any and all (i) inventions and improvements described and claimed therein and (ii) reissues, substitutions, reexaminations, divisions, renewals, extensions, continuations and continuations-in-part thereof and amendments thereto. 

“Perfection Certificate” shall mean that certain perfection certificate, dated the date hereof, executed and delivered by
Issuer in favor of the Collateral Agent for the benefit of the Secured Parties. 
 “Pledged Collateral” shall have the
meaning assigned to such term in Section 2.1. 
 “Pledged Debt” shall have the meaning assigned
to such term in Section 3.4(a). 
 “Pledged Intercompany Notes” shall mean, with respect to each
Pledgor, all intercompany promissory notes by such Pledgor evidencing Indebtedness for borrowed money and all Instruments evidencing such intercompany notes, and all assignments, amendments, restatements, supplements, extensions, renewals,
replacements or modifications thereof to the extent not prohibited pursuant to the terms hereof and under the Indenture; provided, that notwithstanding any of the foregoing, Pledged Intercompany Notes shall not include any Excluded Assets.

 “Pledged Interests” shall mean, collectively, with respect to each Pledgor, (i) all membership, partnership or other
Capital Stock (other than in a corporation), as applicable, now or hereafter owned by such Pledgor at any time including without limitation, those of each issuer described in Section 11 to the Perfection Certificate, together with all rights,
privileges, authority and powers of such Pledgor in and to each such issuer or under any Organization Document of each such issuer and (ii) the certificates, instruments and agreements representing such membership, partnership or other
interests and any and all interest of such Pledgor in the entries on the books of any financial intermediary pertaining to such 

  
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membership, partnership or other Capital Stock; provided, that notwithstanding any of the foregoing, Pledged Interests shall not include any Excluded Assets. 

“Pledged Securities” shall mean, collectively, the Pledged Interests and the Pledged Shares; provided, that
notwithstanding any of the foregoing, Pledged Securities shall not include any Excluded Assets. 
 “Pledged Shares” shall
mean, collectively, with respect to each Pledgor, (i) the issued and outstanding shares of capital stock, whether certificated or uncertificated, now or hereafter owned by such Pledgor at any time, together with all rights, privileges, authority and
powers of such Pledgor relating to such interests in each such issuer or under any Organization Document of each such issuer and (ii) the certificates, instruments and agreements representing such shares of capital stock and any and all interest of
such Pledgor in the entries on the books of the issuer of such shares or of any financial intermediary pertaining to the Pledged Shares; provided, that notwithstanding any of the foregoing, Pledged Shares shall not include any Excluded
Assets. 
 “Pledgor” shall have the meaning assigned to such term in the preamble hereof. 

“Registered Organization” is any “registered organization” as defined in the Code with such additions to such term
as may hereafter be made. 
 “Securities Collateral” shall mean, collectively, the Pledged Securities, the Pledged
Intercompany Notes and the Distributions; provided, that notwithstanding any of the foregoing, Securities Collateral shall not include any Excluded Assets. 

“Trademark Security Agreement” shall mean an agreement substantially in the form annexed hereto as
Exhibit 4. 
 “Trademarks” shall mean,
collectively, all trademarks (including service marks), slogans, logos, certification marks, trade dress, uniform resource locations (URLs), domain names, corporate names, trade names, or other indicia of source, whether registered or unregistered,
and all registrations and applications for the foregoing (whether statutory or common law and whether registered or applied for in the United States or any other country, multi-national registry, or any political subdivision thereof), including
those trademark and service mark registrations and applications listed in Section 10(b) of the Perfection Certificate together with any and all (i) goodwill of the business connected with the use thereof and symbolized
thereby and (ii) extensions and renewals thereof and amendments thereto. 
 “Trade Secrets” shall mean, collectively, all
trade secrets and all other confidential or proprietary information and know-how, whether or not reduced to a writing or other tangible form. 

“UCC” shall mean the Uniform Commercial Code as in effect on the date hereof in the State of New York; provided,
however, that if by reason of mandatory provisions of applicable law, any or all of the attachment, perfection or priority of the Collateral Agent’s and the other Secured Parties’ security interest in any item or portion of the Pledged
Collateral is governed by the Uniform Commercial Code in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect on the date hereof in such other jurisdiction for purposes of the
provisions hereof relating to such attachment, perfection or priority and for purposes of definitions relating to such provisions. 

“Uncertificated Security” shall have the meaning assigned to such term in Section 3.2. 

  
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 “USCO” means the United States Copyright Office. 

“USPTO” means the United States Patent and Trademark Office. 

SECTION 1.2 Interpretation. The interpretive provisions specified in the Indenture shall be applicable to this Agreement. No
failure on the part of the Collateral Agent to provide any Pledgor with any notice expressly required hereunder in connection with the exercise of any right, power or remedy hereunder shall impair the validity of exercise of such right, power or
remedy. 
 SECTION 1.3 Resolution of Drafting Ambiguities. Each Pledgor acknowledges and agrees that it was represented by
counsel in connection with the execution and delivery hereof, that it and its counsel reviewed and participated in the preparation and negotiation hereof and that any rule of construction to the effect that ambiguities are to be resolved against the
drafting party (i.e., the Collateral Agent) shall not be employed in the interpretation hereof. 
 ARTICLE II 

GRANT OF SECURITY AND SECURED OBLIGATIONS 

SECTION 2.1 Grant of Security Interest. As collateral security for the payment and performance in full of all the Obligations, each
Pledgor hereby pledges and grants to the Collateral Agent for the ratable benefit of the Secured Parties, a Lien on and security interest in and to all of the right, title and interest of such Pledgor in, to and under the following Property,
wherever located, whether now existing or hereafter arising or acquired from time to time (collectively, the “Pledged Collateral”): 

(i) all Accounts; 
 (ii) all
Equipment, Goods, Inventory and Fixtures; 
 (iii) all Documents, Instruments and Chattel Paper; 

(iv) all Letter-of-Credit Rights; 

(v) all Securities Collateral; 

(vi) all Investment Property and Deposit Accounts; 

(vii) all Intellectual Property Collateral; 

(viii) the Commercial Tort Claims described on Schedule 1 hereto (as such Schedule may be supplemented from time to time pursuant to
Section 3.4(f)); 
 (ix) all General Intangibles; 

(x) all Money; 
 (xi) all
Supporting Obligations; 
 (xii) all books and records pertaining to the Pledged Collateral; 

(xiii) to the extent not covered by clauses (i) through (xii) of this sentence, choses in action of such Pledgor, whether tangible or
intangible; and 

  
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 (xiv) all Proceeds and products of each of the foregoing and all accessions to, substitutions and
replacements for, and rents, profits and products of, each of the foregoing, and any and all Proceeds of any insurance, indemnity, warranty or guaranty payable to such Pledgor from time to time with respect to any of the foregoing. 

Notwithstanding anything to the contrary contained in clauses (i) through (xiv) above or any other provision of any Notes Document: 

(v) the security interest created by this Agreement shall not extend to, and the term “Pledged Collateral” and “Intellectual
Property Collateral” shall not include, any Excluded Assets; 
 (w) no Pledgor shall be required to take any action with respect to
perfection by “control” (within the meaning of the UCC (other than in respect of (A) Pledged Securities (to the extent such Pledged Securities can be perfected by control), (B) Pledged Debt to the extent required to be delivered to the
Collateral Agent hereunder and (C) any accounts pursuant to Section 2.3); 
 (x) except as provided in Section 4.19(d)(i) of the
Indenture, no security agreements or pledge agreements governed under the laws of any jurisdiction, other than the United States or any of its States, shall be required; 

(y) no Pledgor shall be required to perfect the security interests granted by this Agreement by any means other than by (A) filings pursuant
to the UCC in the office of the secretary of state (or similar central filing office) or local filing office, as applicable, of the relevant state(s), (B) filing and recording fully executed agreements substantially in the forms set forth in
Exhibits 2, 3, and 4 hereto in the USPTO or in the USCO, as applicable, (C) obtaining “control” (within the meaning of the UCC) of Pledged Securities, Pledged Debt and any accounts pursuant to Section 2.3 to the extent expressly
required elsewhere herein or (D) other methods expressly provided herein; and 
 (z) no Pledgor shall be required to deliver any leasehold
mortgage, landlord consent or estoppel, collateral access agreement or bailee letters with regards to any leased Real Property. 

Notwithstanding anything to the contrary contained herein, immediately upon any Property ceasing to constitute Excluded Assets, the Pledged
Collateral shall include, and the Issuer and the other Pledgors, as applicable, shall be deemed to have granted a security interest in, such Property. 

SECTION 2.2 Filings. 

(a) Subject to Section 4.19 and Section 4.23 of the Indenture, each Pledgor hereby irrevocably authorizes the Collateral Agent
(or its designee) at any time and from time to time prior to the termination of this Agreement pursuant to Section 10.3 to file (but the Collateral Agent shall have no duty to file) in any relevant jurisdiction any financing statements
(including fixture filings), continuation statements and amendments thereto that contain the information required by Article 9 of the UCC of each applicable jurisdiction for the filing of any financing statement, continuation statement or
amendment thereto relating to the Pledged Collateral, including (i) whether such Pledgor is an organization, the type of organization and any organizational identification number issued to such Pledgor and (ii) in the case of a financing
statement filed as a fixture filing or covering Pledged Collateral constituting minerals or the like to be extracted or timber to be cut, a sufficient description of the Real Property to which such Pledged Collateral relates. Each Pledgor
agrees to provide all information described in the immediately preceding sentence to the Collateral Agent promptly upon reasonable request and, upon reasonable request by a Pledgor, the Collateral Agent agrees to use commercially reasonable efforts
to make available to such Pledgor copies of any such filings. Such financing statements may describe the collateral in the same manner as described herein or may contain a description of collateral that describes such Property in any

  
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other manner as the Controlling Party may determine, in its reasonable discretion, is necessary or advisable to ensure the perfection of the security interest in the collateral granted to the
Collateral Agent in connection herewith, including, describing such Property as “all assets whether now owned or hereafter acquired” or “all personal property whether now owned or hereafter acquired” (regardless of whether any
particular asset comprised in the Pledged Collateral falls within the scope of Article 9 of the UCC). 
 (b) Each Pledgor hereby
ratifies its authorization for the Collateral Agent (or its designee) to file in any relevant jurisdiction any financing statements or amendments thereto relating to the Pledged Collateral if such financing statements or amendments have been filed
prior to the date hereof. 
 (c) Each Pledgor hereby further authorizes the Collateral Agent (or its designee) to file (but the Collateral
Agent shall have no duty to file) instruments with the USPTO or the USCO (or any successor office), including Copyright Security Agreements, Patent Security Agreements and Trademark Security Agreements, or other documents that are necessary for the
purpose of perfecting, confirming, continuing, enforcing or protecting the pledge and security interest granted by such Pledgor hereunder in (i) any Intellectual Property Collateral owned by Pledgor and applied for, registered or issued in the
United States and (ii) any Exclusive Copyright Licenses, in each case naming such Pledgor, as debtor, and the Collateral Agent, as secured party. 

(d) Subject to the other terms, limitations and conditions set forth in this Agreement and the other Notes Documents, notwithstanding the
grant of authority to the Collateral Agent under this section, the Pledgors shall file or cause to be filed any and all financing statements, continuation statements, amendments or other documents and agreements as may be necessary to perfect and
maintain the perfection of the Collateral Agent’s security interest over the Pledged Collateral. 
 SECTION 2.3 Control
Agreements. 
 (a) For all Deposit Accounts, Securities Accounts, Commodities Accounts and any similar accounts maintained by the Issuer
as of the date hereof (other than Excluded Accounts, collectively, the “Existing Blocked Accounts”), the Issuer shall ensure that the Collateral Agent has control (within the meaning of the UCC) (within 60 days after the date of
this Agreement (or such later date acceptable to the Controlling Party); provided that the Issuer shall use best efforts to ensure that the Collateral Agent has control with 30 days after the date of this Agreement) with respect to any
such Existing Blocked Account of the Issuer by causing the institution maintaining such account to enter into a Control agreement in form and substance reasonably satisfactory to the Controlling Party, pursuant to which the applicable institution
shall agree to comply with the Collateral Agent’s instructions with respect to disposition of funds in such Existing Blocked Account without further consent by the Issuer. If any institution with which an Existing Blocked Account is maintained
refuses to, or does not, enter into a Control agreement in response to reasonable comments from the Controlling Party and the Collateral Agent, then the Issuer shall promptly (and in any event within 60 days after notice from the Controlling Party
(or such later date acceptable to the Controlling Party)) close the respective Existing Blocked Account, transfer all balances therein to another Blocked Account meeting the requirements of this Section 2.3, and, if practicable, prior to such
transfer, cause the institution maintaining such account to enter into a Control agreement in compliance with this Section 2.3(a); provided that, to the extent it is not practicable for the Issuer to cause the institution maintaining
such account to enter into a Control agreement prior to such transfer, Section 2.3(b)(i) shall not apply to the new Blocked Account being opened and within 60 days (or such later date acceptable to the Controlling Party) of opening such account, the
Issuer shall ensure that the Collateral Agent has control (within the meaning of the UCC) (within 60 days after the date of this Agreement (or such later date acceptable to the Controlling Party)) with respect to such account. Notwithstanding
anything else contained herein, no institution shall be required to subordinate its security interest in a Deposit Account, Securities Account, or Commodities Account. 

  
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 (b) On and after the date hereof: 

(i) no Note Party shall open Deposit Accounts, Securities Accounts, Commodities Accounts and any similar accounts (other than the Excluded
Accounts, collectively, the “New Blocked Accounts”), unless a Control agreement, in accordance with the terms of Section 2.3(a), in respect of such New Blocked Account is entered into prior to, or simultaneously with, the
opening or acquisition of such New Blocked Account; and 
 (ii) within 60 days (or such later date acceptable to the Controlling Party) of
acquiring Deposit Accounts, Securities Accounts, Commodities Accounts and any similar accounts pursuant to an acquisition permitted under the Notes Documents (other than the Excluded Accounts, collectively, the “Acquired Blocked
Accounts”), each applicable Pledgor shall ensure that the Collateral Agent has Control with respect to any Acquired Blocked Account of such Pledgor by causing the institution maintaining such account to enter into a Control agreement in
form and substance reasonably satisfactory to the Controlling Party, pursuant to which the applicable institution shall agree to comply with the Collateral Agent’s instructions with respect to disposition of funds in such Blocked Account
without further consent by such Pledgor. If any institution with which an Acquired Blocked Account is maintained refuses to, or does not, enter into a Control agreement in response to reasonable comments from the Controlling Agent and the Collateral
Agent, then the respective Pledgor shall promptly (and in any event within 60 days after notice from the Controlling Party (or such later date acceptable to the Controlling Party)) close the respective Acquired Blocked Account, transfer all balances
therein to another Blocked Account meeting the requirements of this Section 2.3, and, if practicable, prior to such transfer, cause the institution maintaining such account to enter into a Control agreement in compliance with this Section
2.3(b)(ii); provided that, to the extent it is not practicable for to cause the institution maintaining such account to enter into a Control agreement prior to such transfer, Section 2.3(b)(i) shall not apply to the new Blocked Account
being opened and within 60 days (or such later date acceptable to the Controlling Party) of opening such account, such Pledgor shall ensure that the Collateral Agent has control (within the meaning of the UCC) with respect to such account. 

ARTICLE III 
 PERFECTION;
SUPPLEMENTS; FURTHER ASSURANCES; 
 USE OF PLEDGED COLLATERAL 

SECTION 3.1 Delivery of Certificated Securities Collateral. Each Pledgor represents and warrants that as of the date hereof,
Schedule 3 hereto sets forth the office of the secretary of state (or similar central filing office) or local filing office, as applicable, of the relevant state(s) in which a filing pursuant to the UCC would perfect the security interests
granted by this Agreement with respect to the Pledged Collateral (solely to the extent such security interests in the Pledged Collateral can be perfected by such filing). Each Pledgor represents and warrants that (i) all certificates or instruments
representing or evidencing any Pledged Securities and (ii) the Deliverable Intercompany Notes, in each case, in existence on the date hereof, will be delivered to the Collateral Agent (or its designee) in suitable form for transfer by delivery and
accompanied by duly executed instruments of transfer or assignment in blank and that the Collateral Agent has a valid and perfected first priority security interest therein (subject, as to priority, to Permitted Liens) within the time periods
specified in Section 4.23 of the Indenture. Each Pledgor hereby agrees that (i) all certificates or instruments representing or evidencing any Pledged Securities and (ii) the Deliverable Intercompany Notes, in each case, acquired by such
Pledgor after the date hereof shall, within 30 days after receipt thereof by such Pledgor (or such longer period as may be agreed to in writing by the Controlling Party), be delivered to the Collateral Agent (or its designee) pursuant hereto and
shall be in 

  
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suitable form for transfer by delivery and shall be accompanied by duly executed instruments of transfer or assignment in blank. Each delivery of Pledged Securities and Deliverable Intercompany
Notes shall be accompanied by a schedule describing such Pledged Securities and Deliverable Intercompany Notes, which schedule shall be deemed to supplement Section 11 and Section 14 of the Perfection Certificate and made a part
thereof; provided that failure to supplement Section 11 and Section 14 of the Perfection Certificate shall not affect the validity of such pledge of such Pledged Securities or Deliverable Intercompany Notes. Each schedule so
delivered shall supplement any prior schedules so delivered. 
 The Collateral Agent shall have the right, at any time upon the occurrence and during the
continuance of any Event of Default, upon prior written notice to Issuer, to endorse, assign or otherwise transfer to or to register in the name of the Collateral Agent or any of its nominees or endorse for negotiation any or all of such Pledged
Securities or Deliverable Intercompany Notes, without any indication that such Pledged Securities or Deliverable Intercompany Notes are subject to the security interest hereunder; provided, however, notwithstanding anything contained
herein to the contrary, immediately upon the cure or waiver of any applicable Events of Default, the Collateral Agent shall promptly endorse, assign or otherwise transfer to or register in the name of the applicable Pledgor any such Pledged
Securities or Deliverable Intercompany Notes (subject to revesting in the event of a subsequent Event of Default that is continuing and upon prior written notice from the Collateral Agent to Issuer, provided, that such Pledged
Securities or Deliverable Intercompany Notes remain in the possession of the Collateral Agent at such time). In addition, the Collateral Agent shall have the right (but not the obligation) at any time upon the occurrence and during the
continuance of any Event of Default to exchange certificates representing or evidencing any Pledged Securities or Deliverable Intercompany Notes for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

SECTION 3.2 Perfection of Other Securities Collateral. Each Pledgor represents and warrants that, subject to the provisions of
Section 4.2, the Collateral Agent has a valid and perfected first priority security interest (subject, as to priority, to Permitted Liens) under applicable U.S. federal or state law in all Pledged Securities not represented by a certificated
interest (“Uncertificated Security”) pledged by it hereunder that are in existence on the date hereof. Unless otherwise consented to by the Controlling Party, Pledged Interests shall either (i) be represented by a certificate,
and in the organizational documents of such entity, the applicable Pledgor shall cause the issuer of such interests (or use commercially reasonable efforts to cause the issuer if such issuer is not an Affiliate of such Pledgor), to elect to treat
such interests as a “security” within the meaning of Article 8 of the UCC of its jurisdiction of organization or formation, as applicable, by including in its organizational documents language substantially similar to the following
and, accordingly, such interests shall be governed by Article 8 of the UCC: 
 “The [partnership/limited liability company] hereby
irrevocably elects that all [partnership/membership] interests in the [partnership/limited liability company] shall be securities governed by Article 8 of the Uniform Commercial Code of [jurisdiction of organization or formation, as
applicable]. Each certificate evidencing [partnership/membership] interests in the [partnership/limited liability company] shall bear the following legend: ‘This certificate evidences an interest in [name of [partnership/limited liability
company]] and shall be a security for purposes of Article 8 of the Uniform Commercial Code.’ No change to this provision shall be effective until all outstanding certificates have been surrendered for cancellation and any new certificates
thereafter issued shall not bear the foregoing legend.” 
 or (ii) not be represented by a certificate and the applicable Pledgor shall cause the
issuer of such interests not to have elected to treat such interests as a “security” within the meaning of Article 8 of the UCC. 

  
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 If any of the Pledged Securities is or shall become evidenced or represented by an Uncertificated Security, such
Pledgor shall cause the issuer thereof (or use commercially reasonable efforts to cause if the issuer is not an Affiliate of such Pledgor) either (i) to register the Collateral Agent as the registered owner of such Uncertificated Security, upon
original issue or registration of transfer, or (ii) to agree in writing with such Pledgor and the Collateral Agent that such issuer will comply with instructions with respect to such Uncertificated Security originated by the Collateral Agent without
further consent of such Pledgor (and, if prior to the Disposition Date, such agreement to be in form and substance reasonably satisfactory to the Controlling Party). 

SECTION 3.3 Financing Statements and Other Filings; Maintenance of Perfected Security Interest. Each Pledgor agrees that at the
sole reasonable cost and expense of the Pledgors (i) such Pledgor shall take all commercially reasonable actions necessary to defend the security interest created by this Agreement in the Pledged Collateral against the material claims and
demands of all Persons, except with respect to Pledged Collateral as reasonably determined by such Pledgor and the Controlling Party is no longer necessary or beneficial to the conduct of such Pledgor’s business, (ii) such Pledgor shall
furnish to the Collateral Agent from time to time information further identifying and describing the Pledged Securities and Pledged Debt as the Controlling Party may reasonably request, all in reasonable detail, and (iii) at any time and from time
to time, upon the written request of the Controlling Party, such Pledgor shall promptly and duly execute and deliver, and cause to be filed and recorded, such further instruments and documents and take such further action as the Controlling Party
may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and the rights and powers herein granted, including (x) the filing of any financing statements and amendments thereto, continuation statements and
other documents (including this Agreement) under the UCC (or other similar laws) in effect in the United States or any of its States with respect to the security interest created hereby and (y) the execution and delivery of Patent Security
Agreements, Copyright Security Agreements, and Trademark Security Agreements. 
 SECTION 3.4 Other Actions. In order to further
ensure the attachment, perfection and priority of, and the ability of the Collateral Agent to enforce, the Collateral Agent’s security interest in the Pledged Collateral, each Pledgor (i) represents and warrants and/or (ii) covenants, at such
Pledgor’s own expense, to take the following actions, in each case with respect to the following Pledged Collateral: 
 (a)
Instruments and Tangible Chattel Paper. As of the date hereof, each Pledgor hereby represents and warrants that (i) no amounts individually in excess of $2,000,000 payable to such Pledgor under or in connection with any of the
Pledged Collateral (other than amounts owed by another Pledgor) are evidenced by any Instrument (other than checks to be deposited in the ordinary course of business) or Tangible Chattel Paper (other than documents or records evidencing amounts owed
by customers in the ordinary course of business pursuant to deferred payment procedures) other than the Deliverable Intercompany Notes and the Instruments and Tangible Chattel Paper listed in Section 14 of the Perfection Certificate and
(ii) each such Deliverable Intercompany Note, Instrument and each such item of Tangible Chattel Paper individually in excess of $2,000,000 (other than checks to be deposited in the ordinary course of business) has been or will be properly
endorsed and delivered to the Collateral Agent (or its designee) within the time periods specified in Section 4.23 of the Indenture, accompanied by instruments of transfer or assignment duly executed in blank. If any amount, individually, in excess
of $2,000,000 then payable under or in connection with any of the Pledged Collateral (other than any amount owed by any Pledgor) shall be evidenced by any Instrument (other than checks to be deposited in the ordinary course of business) or Tangible
Chattel Paper (other than documents or records evidencing amounts owed by customers in the ordinary course of business pursuant to deferred payment procedures) (such Instruments and Tangible Chattel Paper, collectively, together with the Deliverable
Intercompany Notes, the “Pledged Debt”) and has not previously been delivered to the Collateral Agent, the Pledgor acquiring such Instrument or Tangible Chattel Paper shall promptly (and in any event within 30 days after

  
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acquisition by such Pledgor or such longer period as may be agreed to in writing by the Controlling Party) endorse, assign and deliver the same to the Collateral Agent (or its designee),
accompanied by such instruments of transfer or assignment duly executed in blank as the Collateral Agent may from time to time reasonably specify; provided, however, that so long as no Event of Default has occurred and is continuing, upon
written request by such Pledgor, the Collateral Agent (or its designee) shall promptly (and in any event within 10 Business Days) return such Instrument or Tangible Chattel Paper to such Pledgor from time to time, to the extent necessary for
collection in the ordinary course of such Pledgor’s business.  
 (b)
[Reserved]. 
 (c) [Reserved]. 

(d) [Reserved]. 
 (e)
Letter-of-Credit Rights. As of the date hereof, no Pledgor is the beneficiary or assignee under any letter of credit, other than those listed on Schedule 2 hereto. The parties hereto acknowledge and agree that under no
circumstances shall any Pledgor hereunder be under any obligation to take any perfection steps (other than the filing of appropriate financing statements under the UCC) with respect to any security interest granted in any letter of credit under
which any Pledgor is a beneficiary having a value reasonably believed by the Pledgors to be, individually, less than $2,000,000. If any Pledgor shall become the beneficiary or assignee under any letter of credit with a value, individually, in
excess of $2,000,000 that is not a Supporting Obligation with respect to any of the Pledged Collateral, such Pledgor shall either (i) use commercially reasonable efforts to arrange for the issuer and any confirmer of such letter of credit to consent
to an assignment to the Collateral Agent of the proceeds of any drawing under such letter of credit or (ii) use commercially reasonable efforts to arrange for the Collateral Agent to become the transferee beneficiary of such letter of credit, with
the Collateral Agent agreeing, in each case, that the proceeds of any drawing under such letter of credit are to be paid to the applicable Pledgor unless an Event of Default has occurred and is continuing. 

(f) Commercial Tort Claims. As of the date hereof, each Pledgor hereby represents and warrants that it holds no Commercial Tort
Claims having a value reasonably believed by the Pledgors to be, individually, in excess of $2,000,000 for which such Pledgor has filed a complaint in a court of competent jurisdiction, other than those listed on Schedule 1 hereto. If
any Pledgor shall at any time hold or acquire a Commercial Tort Claim having a value reasonably believed by the Pledgors to be, individually, in excess of $2,000,000, such Pledgor shall promptly (and in any event within 30 days of acquiring such
Commercial Tort Claim or such later date as may be agreed to in writing by the Controlling Party) notify the Collateral Agent in a writing signed by such Pledgor of the brief details thereof and grant to the Collateral Agent in such writing a
security interest therein and in the Proceeds thereof, all upon the terms of this Agreement. Unless otherwise agreed, the grant of a security interest in any such Commercial Tort Claim shall not prejudice the right of such Pledgor to prosecute,
enforce or exercise any of its rights in connection with such Commercial Tort Claim, which it will continue to enjoy until an Event of Default has occurred and is continuing. 

SECTION 3.5 Joinder of Additional Guarantors. The Pledgors shall cause each Subsidiary of Issuer that, from time to time, after
the date hereof shall be required to become a Guarantor for the benefit of the Secured Parties pursuant to Section 4.19 of the Indenture, to execute and deliver to the Collateral Agent a Joinder Agreement within 30 days after the date on
which it was acquired or created (or such later date as may be agreed in writing by the Controlling Party) and, upon such execution and delivery, such Subsidiary shall constitute a “Guarantor” and a “Pledgor” for all purposes
under the Indenture and hereunder with the same force and effect as if originally named as a Guarantor and Pledgor 

  
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therein and herein. The execution and delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The rights and obligations of each Pledgor hereunder
shall remain in full force and effect notwithstanding the addition of any new Guarantor and Pledgor as a party to this Agreement or any other Notes Document. 

ARTICLE IV 
 REPRESENTATIONS,
WARRANTIES AND COVENANTS 
 Each Pledgor represents, warrants and covenants as follows: 

SECTION 4.1 Title; Consent. 

(a) Except for the security interest granted to the Collateral Agent for the ratable benefit of the Secured Parties pursuant to this Agreement
and Permitted Liens, such Pledgor owns (or, in the case of the Intellectual Property Collateral, either owns or has a License to) and, as to Pledged Collateral acquired by it from time to time after the date hereof, will either own or hold a License
to the rights in each item of Pledged Collateral pledged by it hereunder free and clear of any and all Liens of others, except (i) for those failures to own or have a License which could not reasonably be expected to result in a Material Adverse
Effect and (ii) as otherwise permitted by the Notes Documents. As of the date hereof, there are no outstanding warrants, options or other rights to purchase, or shareholder, voting trust or similar agreements outstanding with respect to, or Property
that is convertible into, or that requires the issuance or sale of, any Pledged Securities that constitute Capital Stock (in each case, other than to any Pledgor). No person other than the Collateral Agent (or (i) its bailee for such purpose or (ii)
the Pledgor that owns such Pledged Securities, Pledged Debt or Deposit Account, as applicable) has, or will have, control or possession of all or any part of the Pledged Securities, Pledged Debt or Deposit Account, except as expressly permitted by
the Notes Documents. 
 (b) Other than as required by (i) foreign laws with respect to the Capital Stock in any Foreign Subsidiary and (ii)
laws affecting the offering and sale of securities generally, no consent of any Person, including any general or limited partner, any other member or manager of a limited liability company, any shareholder or any other trust beneficiary, is
necessary (from the perspective of a secured party) in connection with the creation, perfection or first priority status (or the maintenance thereof) of the security interest of the Collateral Agent in any Capital Stock pledged to the Collateral
Agent under this Agreement and the other Collateral Documents or the exercise by the Collateral Agent of any remedies in respect of any Pledged Securities, except in each case as have already been obtained. 

SECTION 4.2 Validity of Security Interest. 

(a) The security interest in, and Lien on, the Pledged Collateral granted to the Collateral Agent for the ratable benefit of the Secured
Parties hereunder constitutes (a) a legal and valid security interest in all the Pledged Collateral securing the payment and performance of the Obligations, and (b) a valid and perfected first priority security interest (subject, as to
priority, to Permitted Liens) in all the Pledged Collateral with respect to which a lien may be perfected by (i) filing a financing statement pursuant to the UCC in the office of the secretary of state (or similar central filing office) or local
filing office, as applicable, of the relevant State(s), (ii) possession or Control by the Collateral Agent (or its bailee for such purpose and subject to the time periods provided in Section 4.23 of the Indenture) or (iii) filing Patent Security
Agreements, Copyright Security Agreements and Trademark Security Agreements with the USPTO or USCO, as applicable. 

  
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 (b) Notwithstanding anything to the contrary in any of the Notes Documents, no Note Party shall
be required to take any actions nor shall be deemed to make any representation, in each case under any Collateral Document with respect to any requirements of foreign laws that may affect the validity or perfection of any security interest purported
to be granted under any Collateral Document. 
 SECTION 4.3 Defense of Claims. Each Pledgor shall, at its own cost and expense, upon
the reasonable request of the Controlling Party or the Collateral Agent (at the direction of the Trustee or Controlling Party given in accordance with the Indenture), take any and all commercially reasonable actions necessary to defend title to the
Pledged Collateral pledged by it hereunder and the security interest therein and Lien thereon granted to the Collateral Agent and the priority thereof against all material claims and demands of all persons at any time claiming any interest therein
adverse to the Collateral Agent or any other Secured Party other than Permitted Liens. Each Pledgor shall promptly notify the Collateral Agent of any claims or demands of the type described in the foregoing sentence. 

SECTION 4.4 Other Financing Statements. No Pledgor has filed, nor authorized any third party to file, any valid or effective
financing statement (or similar statement or instrument of registration under the law of any jurisdiction of the United States or any of its States) covering or purporting to cover any interest of any kind in the Pledged Collateral, except such as
have been filed in favor of the Collateral Agent pursuant to this Agreement or in favor of any holder of a Permitted Lien with respect to such Permitted Lien. Until the satisfaction and discharge of the Indenture in accordance with Section
3.01 thereof or Covenant Termination under the Indenture in accordance with Section 3.02 thereof, no Pledgor shall execute, authorize or consent to be filed in any public office any financing statement (or similar statement or instrument
of registration under the law of any jurisdiction of the United States or any of its States or territories) relating to any Pledged Collateral, except financing statements and other statements and instruments filed or to be filed in respect of and
covering the security interests granted by such Pledgor to the holder(s) of Permitted Liens. 
 SECTION 4.5 Chief Executive Office;
Change of Name; Jurisdiction of Organization, etc. Such Pledgor shall give the Collateral Agent written notice at least 10 Business Days (or such later date as may be agreed in writing by the Controlling Party) prior to the occurrence
of any change to its name, legal structure (whether by merger, consolidation, change in corporate form or otherwise), type of organization, jurisdiction of organization, organizational identification number if it has one (but solely to the
extent such organizational identification number is required to be set forth on financing statements under the applicable UCC) or, in the case of any Pledgor that is not a Registered Organization, its sole place of business (or, if it has more than
one place of business, its chief executive office). The Collateral Agent shall not be liable nor responsible to any party for any failure to maintain a valid and perfected security interest with the priority required hereunder in such Pledgor’s
property constituting Pledged Collateral. The Collateral Agent shall have no duty to inquire about such changes, the parties acknowledging and agreeing that it would not be feasible or practical for the Collateral Agent to search for information on
such changes if such information is not provided by any Pledgor. 
 SECTION 4.6 Due Authorization and Issuance. All of the
Pledged Shares have been duly authorized, validly issued and are fully paid and non-assessable. All of the Pledged Interests have been fully paid for. 

SECTION 4.7 Pledged Collateral. As of the date hereof, all information set forth in the schedules annexed hereto, and all
information contained in the Perfection Certificate and the schedules thereto, in each case, relating to the Pledged Collateral, is accurate and complete in all material respects. As of the date of delivery of any updated information to the
Perfection Certificate (and/or schedules thereto) expressly required under this Agreement, such information shall be accurate and complete in all material respects. 

  
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 ARTICLE V 

CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL 

SECTION 5.1 Voting Rights; Distributions; etc.. 

(i) So long as no Event of Default shall have occurred and be continuing and subject to the provisions of Section 5.1(ii): 

(A) each Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Securities Collateral or any part thereof for
any purpose not inconsistent with the terms or purposes of this Agreement and the other Notes Documents; provided, however, that no Pledgor shall in any event exercise such rights in any manner that is adverse in any material respect
to the ability of the Collateral Agent (on behalf of itself and/or the other Secured Parties) to exercise rights and remedies hereunder after the occurrence and during the continuance of an Event of Default; and 

(B) each Pledgor shall be entitled to receive and retain, and to utilize free and clear of the Lien granted hereunder, any and all Distributions, but only if
and to the extent made in accordance with the provisions of the Indenture; provided, however, that any and all such Distributions consisting of rights or interests in the form of certificated Pledged Securities or Pledged Intercompany Notes
shall be subject to the requirements of Sections 3.1 and 3.2. 
 (ii) Upon the occurrence and during the continuance of any
Event of Default upon prior written notice from the Collateral Agent to Issuer: 
 (A) all rights of each Pledgor to exercise the voting and other
consensual rights it would otherwise be entitled to exercise pursuant to Section 5.1(i)(A) shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall thereupon have the sole right
(but not the obligation) to exercise such voting and other consensual rights (but if directed by the Trustee or Controlling Party in accordance with the Indenture, the Collateral Agent shall have the right from time to time following and during the
continuance of an Event of Default to permit the Pledgors to exercise such rights) until the applicable Event of Default is no longer continuing, at which time all such rights automatically shall revert to such Pledgor, and in which case the
Collateral Agent’s rights under this Section 5.1(ii)(A) shall cease to be effective, subject to revesting in the event of a subsequent Event of Default that is continuing and upon prior written notice from the
Collateral Agent as set forth above; provided that the foregoing clause (A) shall not apply with respect to (and this clause (A) shall not be construed as a restriction of) any voting and or consensual rights such Pledgor is entitled to
exercise in connection with the approval, payment and/or accrual of Distributions then permitted under Section 4.14 of the Indenture; and 
 (B) all
rights of each Pledgor to receive Distributions that it would otherwise be authorized to receive and retain pursuant to Section 5.1(i)(B) without further action shall cease and all such rights shall thereupon become vested
in the Collateral Agent, which shall thereupon have the sole right to receive and hold as Pledged Collateral such Distributions until all Event of Defaults are no longer continuing, in which case the Collateral Agent’s rights under this
Section 5.1(ii)(B) shall cease to be effective, subject to revesting in the event of a subsequent Event of Default that is continuing and upon prior written notice from the Collateral Agent as set forth above. 

(iii) Each Pledgor shall, at its sole cost and expense, from time to time execute and deliver to the Collateral Agent appropriate instruments
as may be necessary or as the Collateral Agent may reasonably request to permit the Collateral Agent to exercise the voting and other rights which it may 

  
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be entitled to exercise pursuant to Section 5.1(ii)(A) and to receive all Distributions which it may be entitled to receive under
Section 5.1(ii)(B). 
 (iv) All Distributions that are received by any Pledgor contrary to the provisions of
Section 5.1(ii)(B) shall be received in trust for the benefit of the Collateral Agent, shall be segregated from the other funds of such Pledgor and shall immediately be paid over to the Collateral Agent as Pledged
Collateral in the same form as so received (with any necessary or reasonably requested endorsement). 
 ARTICLE VI 

CERTAIN PROVISIONS CONCERNING INTELLECTUAL 

PROPERTY COLLATERAL 
 SECTION 6.1
Grant of License. 
 (a) For the purpose of enabling the Collateral Agent to exercise rights and remedies under this Agreement,
each Pledgor grants to the Collateral Agent an irrevocable (subject to termination under Section 10.3), nonexclusive license (exercisable without payment of royalty or other compensation to the Pledgors) to use, license or sublicense any
Intellectual Property now owned or hereafter acquired by such Pledgor, and wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all
computer software and programs used for the compilation or printout thereof, to the extent that such non-exclusive license (a) does not violate the express terms of any agreement between a Pledgor and a third party governing the applicable
Pledgor’s use of such Intellectual Property, or gives such third party any right of acceleration, modification or cancellation therein and (b) is not prohibited by any applicable law; provided, that such licenses to be granted hereunder
with respect to Trademarks shall be subject to the maintenance of quality standards with respect to the goods and services on which such Trademarks are used sufficient to preserve the validity of such Trademarks. The use of such license by the
Collateral Agent may only be exercised, at the option of the Collateral Agent, upon the occurrence and during the continuation of an Event of Default; provided, further, that any license, sublicense or other transaction entered into by
the Collateral Agent in accordance herewith shall be binding upon the Pledgors notwithstanding any subsequent cure of an Event of Default. 

(b) Notwithstanding anything else contained herein, the Issuer hereby provides notice to the Collateral Agent that the Issuer is party to that
certain Amended and Restated Collaboration Agreement, by and between Takeda Pharmaceutical Company Limited (the “Licensee”) and the Issuer, dated as of July 31, 2015 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time in accordance with the provisions hereof, the “Collaboration Agreement”), and that Licensee has exclusive license rights to the Orexigen Patents and Orexigen Know-How (each
as defined in the Collaboration Agreement) under the Collaboration Agreement. 
 SECTION 6.2 Scheduled Intellectual Property. On
and as of the date hereof, a Pledgor owns (a) all issued Patents and pending Patent applications issued by or filed at the USPTO listed in Section 10(c) of the Perfection Certificate, (b) all registered Trademarks and Trademark applications
registered by or filed at the USPTO listed in Section 10(b) of the Perfection Certificate, (c) all registered Copyrights and Copyright applications pending at the USCO listed in Section 10(a) of the Perfection Certificate and (d) all
Licenses granting to a Pledgor any exclusive right with respect to any registered Copyright owned by a third party (“Exclusive Copyright Licenses”) listed in Section 10(d) of the Perfection Certificate, except, in each case,
where the failure to own or possess the right to use, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 

  
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Except as set forth in Section 10 of the Perfection Certificate, as of the date hereof, all such scheduled Intellectual Property Collateral (but excluding Exclusive Copyright Licenses) has
not been abandoned and, to the knowledge of each Pledgor, is valid, subsisting and in full force and effect, except as could not reasonably be expected to result in a Material Adverse Effect. 

SECTION 6.3 No Violations or Proceedings. To the knowledge of each Pledgor, there is no violation, misappropriation, dilution or
infringement by others of any right of such Pledgor with respect to any Material IP Collateral, except where such violation, misappropriation, dilution or infringement, individually or in the aggregate, could not reasonably be expected to result in
a Material Adverse Effect. Such Pledgor is not infringing upon, diluting, misappropriating or otherwise violating any Intellectual Property right of any other person, except where such infringement, misappropriation, dilution or violation,
individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 6.4 Protection of
Collateral Agent’s Security. On a continuing basis, each Pledgor shall, at its sole cost and expense, (i) maintain and protect the Material IP Collateral owned by such Pledgor, (ii) not permit to lapse or become abandoned any
Material IP Collateral owned by such Pledgor, and (iii) during the continuance of an Event of Default, upon prior notice from the Collateral Agent to Issuer, (x) not enter into any settlement, covenant not to sue, or other agreement, in each case
that would materially impair the validity or enforceability of any Material IP Collateral owned by such Pledgor, or materially impair such Pledgor’s ownership of any Material IP Collateral owned by such Pledgor and (y) not permit to lapse or
become abandoned any Material IP Collateral owned by such Pledgor; provided, that, except with respect to clause (iii) above, nothing in this Agreement shall prevent any Pledgor from disposing of, discontinuing the use or maintenance of,
failing to pursue or otherwise allowing to lapse, terminate or put into the public domain, any of its Intellectual Property, to the extent Issuer determines in good faith that such Intellectual Property is not material to the business of Issuer and
its Restricted Subsidiaries, taken as a whole. Upon the Collateral Agent’s reasonable request, each Pledgor shall furnish to the Collateral Agent from time to time information further identifying and describing the Intellectual Property
Collateral as the Collateral Agent may reasonably request, all in reasonable detail (it being understood that the Collateral Agent shall have no duty to make such request (other than pursuant to any direction given by the Trustee or the Controlling
Party in accordance with the Indenture)). 
 SECTION 6.5 After-Acquired Property. If any Pledgor, at any time before the
satisfaction and discharge of the Indenture in accordance with Section 3.01 thereof or a Covenant Termination of the Indenture in accordance with Section 3.02 thereof, (i) obtains any rights to any additional Intellectual Property
Collateral or (ii) becomes entitled to the benefit of any additional Intellectual Property Collateral or extension thereof, including any reissue, division, continuation, or continuation-in-part of any Intellectual Property Collateral, or any
improvement on any Intellectual Property Collateral, the provisions hereof shall automatically apply thereto and any such item enumerated in clause (i) or (ii) of this sentence with respect to such Pledgor shall automatically constitute
Intellectual Property Collateral if such would have constituted Intellectual Property Collateral at the time of execution hereof and be subject to the Lien and security interest created by this Agreement without further action by any
party. Each Pledgor shall, at the time of filing of the financial statements required by Section 4.06(b) of the Indenture, with respect to any item of Intellectual Property Collateral owned by a Pledgor and applied for, registered or
issued in the United States, and any Exclusive Copyright Licenses, (i) promptly provide to the Collateral Agent written notice of each such item and (ii) promptly thereafter, file the instruments and documents provided for in Section
2.2(c). Further, each Pledgor authorizes the Collateral Agent to modify this Agreement by amending Section 10 to the Perfection Certificate to include any Intellectual Property Collateral identified by any Pledgor in accordance with
this Section 6.5 of the type required to be set forth therein, acquired or arising after the date hereof of such Pledgor. 

  
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 SECTION 6.6 Litigation. Upon the occurrence and during the continuance of any Event
of Default, to the extent permissible by law, the Collateral Agent shall have the right but shall in no way be obligated to file applications for protection of the Intellectual Property Collateral and/or bring suit in the name of any Pledgor, the
Collateral Agent or the Secured Parties to enforce the Intellectual Property Collateral and any License thereunder. In the event of such suit, each Pledgor shall, at the reasonable request of the Collateral Agent, do any and all lawful acts and
execute any and all documents reasonably requested by the Collateral Agent in aid of such enforcement, and the Pledgors shall promptly reimburse and indemnify the Collateral Agent for all costs and expenses incurred by the Collateral Agent in the
exercise of its rights under this Section 6.6 in accordance with Section 7.06 and Section 17.02(e) of the Indenture. In the event that, upon the occurrence of and during the continuance of any Event of Default, the
Collateral Agent elects not to bring such suit to enforce the Intellectual Property Collateral, each Pledgor agrees, at the reasonable request of the Collateral Agent, to take all reasonable actions, whether by suit, proceeding or other action, as
such Pledgor, in its reasonable business judgment, deems necessary and appropriate to prevent the infringement, counterfeiting, unfair competition, dilution, misappropriation, diminution in value of or other damage to any Material IP Collateral by
others and for that purpose agrees, subject to the foregoing qualifications, to diligently maintain any such suit, proceeding or other action to prevent such infringement, counterfeiting, unfair competition, dilution, misappropriation, diminution in
value of or other damage to the Material IP Collateral owned by any Pledgor. 
 ARTICLE VII 

MAINTENANCE OF RECORDS 
 Each Pledgor shall, at
such Pledgor’s sole cost and expense, upon the Collateral Agent’s demand (pursuant to any direction given by the Trustee or the Controlling Party in accordance with the Indenture) made at any time after the occurrence and during the
continuance of any Event of Default, deliver all tangible evidence of Accounts, including all documents evidencing Accounts and any books and records relating thereto to the Collateral Agent or to its representatives (copies of which evidence and
books and records may be retained by such Pledgor). Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent may (but shall not be obligated to (other than pursuant to any direction given by the Trustee or the
Controlling Party in accordance with the Indenture)) transfer a full and complete copy of any Pledgor’s books, records, credit information, reports, memoranda and all other writings relating to the Accounts to and for the use by any person that
has acquired or is contemplating acquisition of an interest in the Accounts or the Collateral Agent’s security interest therein without the consent of any Pledgor; provided, that the Collateral Agent agrees to use reasonable efforts to
provide prior written notice of any such transfer to such Pledgor. 
 ARTICLE VIII 

REMEDIES 
 SECTION 8.1
Remedies. Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent may from time to time (but shall not be obligated to (other than pursuant to any direction given by the Trustee or the Controlling Party in
accordance with the Indenture)) exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it, the following remedies, in each case, to the fullest extent permitted by
applicable law: 
 (i) Personally, or by agents or attorneys, immediately take possession of the Pledged Collateral or any part thereof,
from any Pledgor or any other person who then has possession of any part 

  
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thereof with or without notice or process of law, and for that purpose may enter upon any Pledgor’s premises where any of the Pledged Collateral is located, remove such Pledged Collateral,
remain present at such premises to receive copies of all communications and remittances relating to the Pledged Collateral and use in connection with such removal and possession any and all services, supplies, aids and other facilities of any
Pledgor; 
 (ii) Demand, sue for, collect or receive any money or Property at any time payable or receivable in respect of the Pledged
Collateral including instructing the obligor or obligors on any agreement, instrument or other obligation constituting part of the Pledged Collateral to make any payment required by the terms of such agreement, instrument or other obligation
directly to the Collateral Agent, and in connection with any of the foregoing, compromise, settle, extend the time for payment and make other modifications with respect thereto; provided, however, that in the event that any such payments are
made directly to any Pledgor, such Pledgor shall segregate all amounts received pursuant thereto in trust for the benefit of the Collateral Agent and shall promptly (but in no event later than three (3) Business Days after receipt thereof or such
later date as may be agreed to in writing by the Controlling Party) pay such amounts to the Collateral Agent; 
 (iii) Sell, assign, grant a
license to use or otherwise liquidate, or direct any Pledgor to sell, assign, grant a license to use or otherwise liquidate, any and all investments made in whole or in part with the Pledged Collateral or any part thereof, and take possession of the
proceeds of any such sale, assignment, license or liquidation, with respect to licenses to Trademarks, subject to reasonable quality control provisions in connection with the goods and services offered under any Trademarks sufficient to avoid the
risk of cancellation, voiding or invalidation of such Trademarks; 
 (iv) Take possession of the Pledged Collateral or any part thereof, by
directing any Pledgor in writing to deliver the same to the Collateral Agent at any place or places so designated by the Collateral Agent, in which event such Pledgor shall at its own expense: (A) forthwith cause the same to be moved to the
place or places designated by the Collateral Agent and therewith delivered to the Collateral Agent; (B) store and keep any Pledged Collateral so delivered to the Collateral Agent at such place or places pending further action by the Collateral
Agent; and (C) while the Pledged Collateral shall be so stored and kept, provide such security and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition. Each Pledgor’s
obligation to deliver the Pledged Collateral as contemplated in this Section 8.1(iv) is of the essence hereof. Upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a
decree requiring specific performance by any Pledgor of such obligation; 
 (v) Retain and apply the Distributions to the Obligations as
provided in Article 6 of the Indenture; 
 (vi) Exercise any and all rights as beneficial and legal owner of the
Pledged Collateral subject to Section 5.1(ii); and 
 (vii) All the rights and remedies of a secured party upon default under the UCC
(whether or not the UCC applies to the affected Pledged Collateral) or any other applicable law or in equity, and the Collateral Agent may also, at the direction of the Trustee or Controlling Party given in accordance with the Indenture, without
notice except as specified in Section 8.2, sell, assign, transfer or grant a license to use the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s board
or at any of the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Collateral Agent may deem commercially reasonable. The Collateral Agent or any
other Secured Party or any of their respective Affiliates may be the purchaser, licensee, assignee or recipient of any or all of the Pledged 

  
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Collateral at any such sale and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold,
assigned or licensed at such sale, to use and apply any of the Obligations owed to such person as a credit on account of the purchase price of any Pledged Collateral payable by such person at such sale. Each purchaser, assignee, licensee or
recipient at any such sale shall acquire the Property sold, assigned or licensed absolutely free from any claim or right on the part of any Pledgor, and each Pledgor hereby waives, to the fullest extent permitted by applicable law, all rights of
redemption, stay and/or appraisal that it now has or may at any time in the future have under any applicable law now existing or hereafter enacted. The Collateral Agent shall not be obligated to make any sale of Pledged Collateral regardless of
notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to
which it was so adjourned. Each Pledgor hereby waives, to the fullest extent permitted by applicable law, any claims against the Collateral Agent arising by reason of the fact that the price at which any Pledged Collateral may have been sold,
assigned or licensed at such a private sale was less than the price which might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Pledged Collateral to more than one offeree.

 SECTION 8.2 Notice of Sale. Each Pledgor acknowledges and agrees that, to the extent notice of sale or other disposition of
Pledged Collateral shall be required by any applicable law, 10 days’ prior written notice to such Pledgor of the time and place of any public sale or of the time after which any private sale or other intended disposition is to take place
shall be commercially reasonable notification of such matters. To the extent permitted by applicable law, no notification need be given to any Pledgor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying
any right to notification of sale or other intended disposition. 
 SECTION 8.3 Waiver of Claims; Other Waivers; Marshalling. 

(i) Each Pledgor hereby waives, to the fullest extent permitted by applicable law, notice of judicial hearing in connection with the
Collateral Agent’s taking possession or the Collateral Agent’s disposition of any of the Pledged Collateral, including any and all prior notice and hearing for any prejudgment remedy or remedies and any such right which such Pledgor would
otherwise have under any applicable law, and each Pledgor hereby further waives, to the fullest extent permitted by applicable law (i) all damages occasioned by such taking of possession, (ii) all other requirements as to the time, place
and terms of sale or other requirements with respect to the enforcement of the Collateral Agent’s rights hereunder and (iii) all rights of redemption, appraisal, valuation, stay, extension or moratorium now or hereafter in force under any
applicable law. The Collateral Agent shall not be liable for any incorrect or improper payment made pursuant to this Article VIII except to the extent resulting solely from the Collateral Agent’s gross negligence or
willful misconduct as determined in a final, non-appealable judgment by a court of competent jurisdiction. Any sale of, or the grant of options to purchase, or any other realization upon, any Pledged Collateral shall operate to divest all right,
title, interest, claim and demand, either at law or in equity, of the applicable Pledgor therein and thereto, and shall be a perpetual bar both at law and in equity or otherwise against such Pledgor and against any and all persons claiming or
attempting to claim the Pledged Collateral so sold, optioned or realized upon, or any part thereof, from, through or under such Pledgor. 

(ii) To the maximum extent permitted by applicable law, each Pledgor hereby waives demand, notice (except for any notices required hereunder),
protest, notice of acceptance of this Agreement, notice of Pledged Collateral received or delivered or any other action taken in reliance hereon. 

  
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 (iii) The Collateral Agent shall not be required to marshal any present or future collateral
security (including the Pledged Collateral) for, or other assurances of payment of, the Obligations or any of them or to resort to such collateral security or other assurances of payment in any particular order. To the maximum extent permitted by
applicable law, each Pledgor hereby agrees that it will not invoke any applicable law relating to the marshalling of collateral and hereby irrevocably waives the benefits of all such applicable laws. 

SECTION 8.4 Standards for Exercising Rights and Remedies. To the extent that applicable laws impose duties on the Collateral Agent
to exercise remedies in a commercially reasonable manner, each Pledgor acknowledges and agrees that it is not commercially unreasonable for the Collateral Agent (i) to fail to incur expenses reasonably deemed significant by the Collateral Agent
to prepare Pledged Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other finished products for disposition, (ii) to fail to obtain third party consents for access to Pledged
Collateral to be disposed of, or to obtain or, if not required by other applicable laws, to fail to obtain consents for Governmental Authorities or third parties for the collection or disposition of Pledged Collateral to be collected or disposed of,
(iii) to fail to exercise collection remedies against account debtors or other persons obligated on Pledged Collateral or to fail to remove liens or encumbrances on or any adverse claims against Pledged Collateral, (iv) to exercise
collection remedies against account debtors and other persons obligated on Pledged Collateral directly or through the use of collection agencies and other collection specialists, (v) to advertise dispositions of Pledged Collateral through
publications or media of general circulation, whether or not the Pledged Collateral is of a specialized nature, (vi) to contact other persons, whether or not in the same business as any Pledgor, for expressions of interest in acquiring all or
any portion of the Pledged Collateral, (vii) to hire one or more professional auctioneers to assist in the disposition of Pledged Collateral, whether or not the collateral is of a specialized nature, (viii) to dispose of Pledged Collateral
by utilizing internet sites that provide for the auction of assets of the types included in the Pledged Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (ix) to dispose of assets in
wholesale rather than retail markets, (x) to disclaim or modify disposition warranties, (xi) to purchase insurance or credit enhancements to insure the Collateral Agent against risks of loss, collection or disposition of Pledged Collateral
or to provide to the Collateral Agent a guaranteed return from the collection or disposition of Pledged Collateral, or (xii) to the extent deemed appropriate by the Collateral Agent, to obtain the services of other brokers, investment bankers,
consultants and other professionals to assist the Collateral Agent in the collection or disposition of any of the Pledged Collateral. The Pledgors acknowledge that the purpose of this Section 8.4 is to provide
non-exhaustive indications of what actions or omissions by the Collateral Agent would fulfill the Collateral Agent’s duties under the UCC or other applicable laws of the State or any other relevant jurisdiction in the Collateral Agent’s
exercise of remedies against the Pledged Collateral and that other actions or omissions by the Collateral Agent shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this
Section 8.4. Without limiting the foregoing, nothing contained in this Section 8.4 shall be construed to grant any rights to any Pledgor or to impose any duties on the Collateral Agent that
would not have been granted or imposed by this Agreement or by applicable law in the absence of this Section 8.4. 

SECTION 8.5 Certain Sales of Pledged Collateral. 

(i) Each Pledgor recognizes that, by reason of certain prohibitions contained in applicable law, the Collateral Agent may be compelled, with
respect to any sale of all or any part of the Pledged Collateral, to limit purchasers to those who meet the requirements of a Governmental Authority. Each Pledgor acknowledges that any such sales may be at prices and on terms less favorable to the
Collateral Agent than those obtainable through a public sale without such restrictions, and, notwithstanding such circumstances, agrees that any such restricted sale shall be deemed to have been 

  
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made in a commercially reasonable manner and that, except as may be required by applicable law, the Collateral Agent shall have no obligation to engage in public sales. 

(ii) Each Pledgor recognizes that, by reason of certain prohibitions contained in the Securities Act of 1933, as amended (the
“Securities Act”), and applicable state or foreign securities’ laws, the Collateral Agent may be compelled, with respect to any sale or disposition of all or any part of the Securities Collateral and Investment Property, to
limit purchasers to persons who will agree, among other things, to acquire such Securities Collateral or Investment Property for their own account, for investment and not with a view to the distribution or resale thereof. Each Pledgor acknowledges
that any such private sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public sale without such restrictions (including a public offering made pursuant to a registration statement under the
Securities Act), and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the Collateral Agent shall have no obligation to engage in public sales and no
obligation to delay the sale of any Securities Collateral or Investment Property for the period of time necessary to permit the issuer thereof to register it for a form of public sale requiring registration under the Securities Act or under
applicable state or foreign securities laws, even if such issuer would agree to do so. 
 (iii) If the Collateral Agent determines to
exercise its right to sell any or all of the Securities Collateral or Investment Property after the occurrence and during the continuance of an Event of Default, upon written request, the applicable Pledgor shall, and shall use commercially
reasonable efforts to cause each issuer of Securities Collateral and Investment Property to be sold hereunder to, from time to time furnish to the Collateral Agent all such information as may be necessary or as the Collateral Agent may reasonably
request to determine the number and nature or interest of securities or other instruments included in the Securities Collateral or Investment Property which may be sold by the Collateral Agent as exempt transactions under the Securities Act and the
rules of the Securities and Exchange Commission thereunder, as the same are from time to time in effect. Each Pledgor further agrees that a breach of any of the covenants contained in this Section 8.5(iii) will cause
irreparable injury to the Collateral Agent and other Secured Parties, that the Collateral Agent and the other Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in
this Section 8.5(iii) shall be specifically enforceable against such Pledgor, and such Pledgor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants, except for a
defense that no Event of Default has occurred or is continuing. 
 SECTION 8.6 No Waiver; Cumulative Remedies. 

(i) No failure on the part of the Collateral Agent to exercise, no course of dealing with respect to, and no delay on the part of the
Collateral Agent in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy hereunder preclude any other or further exercise thereof or the
exercise of any other right, power or remedy; nor shall the Collateral Agent be required to look first to, enforce or exhaust any other security, collateral or guaranties. The remedies herein provided are cumulative and are not exclusive of any
remedies provided by applicable law, in equity or otherwise. 
 (ii) In the event that the Collateral Agent shall have instituted any
proceeding to enforce any right, power or remedy under this Agreement or any other Notes Document by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined
adversely to the Collateral Agent, then and in every such case, the Pledgors, the Collateral Agent and each other Secured Party shall be restored to their respective former positions and rights hereunder with respect to the Pledged Collateral, and
all rights, remedies and powers of the Collateral Agent and the other Secured Parties shall continue as if no such proceeding had been instituted. 

  
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 SECTION 8.7 Certain Additional Actions Regarding Intellectual Property. If any Event
of Default shall have occurred and be continuing, upon the reasonable written demand of the Collateral Agent (pursuant to any direction given by the Trustee or the Controlling Party in accordance with the Indenture), each Pledgor shall execute and
deliver to the Collateral Agent an assignment or assignments of the registered Intellectual Property Collateral (and any applications therefor) or such other documents as are necessary or appropriate to carry out the intent and purposes hereof. 

ARTICLE IX 
 APPLICATION OF
PROCEEDS 
 The proceeds received by the Collateral Agent in respect of any sale of, collection from, or other realization upon all or any part of the
Pledged Collateral pursuant to the exercise by the Collateral Agent of its remedies shall, together with any other sums then held by the Collateral Agent, be applied in accordance with Section 6.05 of the Indenture. 

ARTICLE X 
 MISCELLANEOUS 

SECTION 10.1 Collateral Agent Appointed Attorney-in-Fact. Each Pledgor hereby appoints the Collateral Agent as its
attorney-in-fact, with full power and authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, at the direction of the Trustee or Controlling Party given in accordance with the Indenture, to take any action and
to execute any instrument consistent with the terms of the Indenture, this Agreement and the other Notes Documents which the Collateral Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is a
power of attorney coupled with an interest and such appointment shall be irrevocable. Each Pledgor hereby ratifies all that such attorney shall lawfully do in accordance with the terms of this Agreement and the other Notes Documents and only to the
extent permitted hereunder or thereunder. Notwithstanding anything in this Section 10.1 to the contrary, the Collateral Agent agrees that it will not exercise any rights under the power of attorney provided for in this Section 10.1
unless an Event of Default has occurred and is continuing. 
 SECTION 10.2 Continuing Security Interest. This Agreement shall
create a continuing security interest in the Pledged Collateral and shall (i) be binding upon the Pledgors, their respective successors and assigns and (ii) inure, together with the rights and remedies of the Collateral Agent hereunder, to
the benefit of the Collateral Agent and the other Secured Parties and each of their respective successors, transferees and permitted assigns. No other persons (including any other creditor of any Pledgor) shall have any interest herein or any
right or benefit with respect hereto. 
 SECTION 10.3 Termination; Release. (a) This Agreement shall automatically terminate
upon the satisfaction and discharge of the Indenture in accordance with Section 3.01 thereof or a Covenant Termination of the Indenture in accordance with Section 3.02 thereof. Upon termination hereof, the Lien granted hereby
shall automatically terminate and all rights to the Pledged Collateral shall automatically revert to the applicable Pledgor or to such other person as may be entitled thereto pursuant to any Order or other applicable law. The Lien granted hereby
shall be automatically released and shall automatically terminate with respect to all or any portion of the Pledged Collateral in accordance with Section 17.03 of the Indenture. For the avoidance of doubt, a Pledgor shall automatically be
released from its obligations hereunder if it ceases to be a Note Party in accordance with the Indenture. 

  
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 (b) In accordance with, and subject to the provisions of, Section 17.02(b) of the Indenture, any
of the Liens granted hereby may be subordinated pursuant to an Accepted Form (or other form reasonably acceptable to the Collateral Agent) of non-disturbance agreement or other agreement necessary to consummate a Permitted Commercialization
Arrangement. 
 (c) In connection with any termination or release pursuant to paragraph (a) of this Section 10.3, so long as Issuer
shall have provided the Collateral Agent with such certifications or documents as provided in Section 17.03(b) and (c) of the Indenture, the Collateral Agent shall execute and deliver to any Pledgor, at such Pledgor’s expense, all
documents that such Pledgor shall reasonably request to evidence such termination or release and shall perform such other actions reasonably requested by such Pledgor to effect such release, including delivery of certificates, securities and
instruments. 
 SECTION 10.4 Modification in Writing. No amendment, modification, supplement, termination or waiver of or to any
provision hereof, nor consent to any departure by any Pledgor therefrom, shall be effective unless the same shall be made in accordance with the terms of the Indenture and unless in writing and signed by the Collateral Agent and the applicable
Pledgor. Any amendment, modification or supplement of or to any provision hereof, any waiver of any provision hereof and any consent to any departure by any Pledgor from the terms of any provision hereof shall be effective only in the specific
instance and for the specific purpose for which made or given. Except where notice is specifically required by this Agreement, no notice to or demand on any Pledgor in any case shall entitle any Pledgor to any other or further notice or demand
in similar or other circumstances. 
 SECTION 10.5 Notices. Unless otherwise provided herein or in the Indenture, any notice or
other communication herein required or permitted to be given shall be given in the manner and become effective as set forth in the Indenture, as to any Pledgor, addressed to it at the address of Issuer set forth in the Indenture and as to the
Collateral Agent, addressed to it at the address set forth in the Indenture, or in each case at such other address as shall be designated by such party in a written notice to the other party complying as to delivery with the terms of this
Section 10.5. 
 SECTION 10.6 Governing Law and Consent to Jurisdiction; Waiver of Jury Trial. The
terms of Sections 19.04 and 19.12 of the Indenture with respect to governing law, consent of jurisdiction, service of process, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the
parties hereto agree to such terms. 
 SECTION 10.7 Severability of Provisions. In the event any provision of this
Agreement shall be invalid, illegal or unenforceable, then (to the extent permitted by law) the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired. 

SECTION 10.8 Execution in Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an
original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of
this Agreement as to the parties hereto and may be used in lieu of the original Agreement for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

SECTION 10.9 Business Days. In the event any time period or any date provided in this Agreement ends or falls on a day other than
a Business Day, then such time period shall be deemed to end and such date shall be deemed to fall on the next succeeding Business Day, and performance herein may be made on such Business Day, with the same force and effect as if made on such other
day. 

  
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 SECTION 10.10 No Claims Against Collateral Agent. Nothing contained in this Agreement
or any other Notes Document, nor the exercise by the Collateral Agent of any of the rights or remedies hereunder, shall constitute any consent or request by the Collateral Agent, express or implied, for the performance of any labor or services or
the furnishing of any materials or other Property in respect of the Pledged Collateral or any part thereof, nor as giving any Pledgor any right, power or authority to contract for or permit the performance of any labor or services or the furnishing
of any materials or other Property in such fashion as would permit the making of any claim against the Collateral Agent in respect thereof or any claim that any Lien based on the performance of such labor or services or the furnishing of any such
materials or other Property is prior to the Lien hereof. 
 SECTION 10.11 Obligations Absolute. All obligations of each Pledgor
hereunder shall be absolute and unconditional irrespective of: 
 (i) any bankruptcy, insolvency, reorganization, arrangement, readjustment,
composition, liquidation or the like of any Pledgor; 
 (ii) any lack of validity or enforceability of any Notes Document or any other
agreement or instrument relating thereto against any Pledgor; 
 (iii) any change in the time, manner or place of payment of, or in any
other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from any Notes Document or any other agreement or instrument relating thereto (except, and only to the extent provided by, any
amendment, waiver or consent executed in accordance with Article 10 of the Indenture which alters any such obligation hereunder); 
 (iv)
any pledge, exchange, release or non-perfection or loss of priority of any other collateral, or any release thereto (except, and only to the extent provided by, any release executed in accordance with Section 10.3 hereof which alters any such
obligation hereunder) or amendment or waiver of or consent to any departure from any guarantee thereto (except, and only to the extent provided by, any amendment, waiver or consent executed in accordance with Article 10 of the Indenture which
alters any such obligation hereunder), for all or any of the Obligations; 
 (v) any exercise, non-exercise or waiver of any right, remedy,
power or privilege under or in respect hereof of any Notes Document; or 
 (vi) any other circumstances which might otherwise constitute a
defense (other than the indefeasible payment in full of the Obligations) available to, or a discharge of, the Pledgors. 
 SECTION 10.12
Concerning the Collateral Agent. 
 (a) The powers conferred on the Collateral Agent hereunder are solely to protect the Secured
Parties’ interest in the Pledged Collateral and shall not impose any duty upon the Collateral Agent to exercise any such powers (other than as directed by the Trustee or the Controlling Party in accordance with the Indenture). Except for the
safe custody of any Pledged Collateral in its possession and the accounting for moneys actually received by it hereunder, the Collateral Agent shall have no duty as to any Pledged Collateral (other than as directed by the Trustee or the Controlling
Party in accordance with the Indenture), as to ascertaining or taking action with respect to any Pledged Collateral, whether or not any Secured Party has or is deemed to have knowledge of such matters, or as to the taking of any necessary steps to
preserve rights against any parties or any other rights pertaining to any Pledged Collateral. The Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of any

  
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Pledged Collateral in its possession if such Pledged Collateral is accorded treatment substantially equal to that which it accords its own property. 

(b) U.S. Bank National Association, is entering this Agreement not in its individual capacity, but solely in its capacity as Collateral Agent
under the Indenture. In acting hereunder, the Collateral Agent shall be entitled to all of the rights, privileges and immunities of the Collateral Agent set forth in the Indenture, including without limitation in Articles 7 and 17 thereof, as
if such rights, privileges and immunities were expressly set forth herein. 
 (c) The Collateral Agent shall have no duty or obligation to
make any filings, recordings, re-filings or re-recordings to perfect or maintain the perfection of the Collateral Agent’s security interest in the Pledged Collateral. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 26 

 IN WITNESS WHEREOF, the Pledgors and the Collateral Agent have caused this Agreement to be duly
executed and delivered by their duly authorized officers as of the date first above written. 
  

			
	OREXIGEN THERAPEUTICS, INC.,
	as Pledgor
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	 U.S. BANK NATIONAL ASSOCIATION,

solely in its capacity as Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:

 SCHEDULE 1 

COMMERCIAL TORT CLAIMS 

  
 Schedule 1 

 SCHEDULE 2 

LETTERS OF CREDIT 

  
 Schedule 2 

 SCHEDULE 3 

FILING OFFICES 

  
 Schedule 3 

 EXHIBIT 1 

[Form of] 
 JOINDER AGREEMENT 

[Name of New Pledgor] 
 [Address of
New Pledgor] 
 [Date] 
 U.S. Bank National Association 

as Collateral Agent for 
 the Secured Parties referred to below

 U.S. Bank National Association 
 Global Corporate Trust
Services 
 Mailcode: EP-MN-WS3C 
 60 Livingston Avenue 

St. Paul MN 55107-2292 Attn: Orexigen Therapeutics, Inc. Administrator 

Facsimile: (651) 466-7430 
  

	Re:	Orexigen Therapeutics, Inc. 

 Ladies and Gentlemen: 

Reference is made to that certain Security Agreement, dated as of March [    ], 2016 (as amended, restated, amended and
restated, supplemented or otherwise modified from time to time, the “Security Agreement”; capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement), entered
into by Orexigen Therapeutics, Inc., a Delaware corporation (“Issuer”), the other Pledgors party thereto and U.S. Bank National Association, as collateral agent for the Secured Parties (in such capacity and together with any
successors in such capacity, the “Collateral Agent”). 
 This joinder agreement (this “Joinder Agreement”)
supplements the Security Agreement and is delivered by the undersigned, [                    ] (the “New Pledgor”), pursuant to
Section 3.5 of the Security Agreement. The New Pledgor hereby agrees to be bound as a Pledgor by all of the terms, covenants and conditions set forth in the Security Agreement to the same extent that it would have been
bound if it had been a signatory to the Security Agreement on the execution date of the Security Agreement. Without limiting the generality of the foregoing, the New Pledgor hereby grants and pledges to the Collateral Agent, as collateral security
for the full, prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Obligations, a Lien on and security interest in, all of its right, title and interest in, to and under the Pledged
Collateral and expressly assumes all obligations and liabilities of a Pledgor under the Security Agreement and the other Notes Documents. The New Pledgor hereby agrees to each of the covenants applicable to such Pledgor contained in the Security
Agreement. 
 The New Pledgor hereby represents and warrants that (a) set forth under its signature hereto is the true and correct legal
name of the New Pledgor, its jurisdiction of formation and the location of its chief executive office, (b) set forth on Schedule I attached hereto is a true and correct schedule of the information required by Schedules 1 and 2 to the Security
Agreement applicable to it and (c) set forth on 

  
 Exhibit 1 – Form
of Joinder Agreement 

 
Schedule II attached hereto is a true and correct schedule of the information required pursuant to the Perfection Certificate. 

This Joinder Agreement and any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all such counterparts together shall constitute one and the same agreement. Delivery of an executed
counterpart of this Joinder Agreement by facsimile or other electronic means shall be effective as delivery of a manually executed counterpart of this Joinder Agreement. This Joinder Agreement is a Notes Document. 

THIS JOINDER AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) BASED UPON,
ARISING OUT OF OR RELATING TO THIS JOINDER AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

[Remainder of this page intentionally left blank] 

  
 Exhibit 1 – Form
of Joinder Agreement 

 IN WITNESS WHEREOF, the New Pledgor has caused this Joinder Agreement to be executed and
delivered by its duly authorized officer as of the date first above written. 
  

			
	[NEW PLEDGOR]
		
	By:	 	  

		 	Name:
		 	Title:
	
	Legal Name:
	Jurisdiction of Formation:
	Location of Chief Executive Office:

 AGREED TO AND ACCEPTED: 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
	solely in its capacity as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit 1 – Form
of Joinder Agreement 

 EXHIBIT 2 

[Form of] 
 COPYRIGHT SECURITY
AGREEMENT 
 This Copyright Security Agreement dated as of [            ],
20[    ] (this “Copyright Security Agreement”), by and among the signatory hereto indicated as a “Pledgor” (the “Pledgor”) in favor of U.S. Bank National Association solely in its
capacity as collateral agent for the Secured Parties (in such capacity, together with any successor thereof, the “Collateral Agent”) pursuant to that certain Indenture, dated as of March [    ], 2016 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the “Indenture”), by and among Orexigen Therapeutics, Inc., a Delaware corporation (“Issuer”), the Pledgor and each of the other
guarantors listed on the signature pages thereto, and U.S. Bank National Association, as trustee and as collateral agent. 
 W
I T N E S S E T H: 
 WHEREAS, the Pledgor is party to that certain Security
Agreement dated as of March [    ], 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) in favor of the Collateral Agent pursuant to
which the Pledgor pledged and granted to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in the Copyright Collateral (as defined below); and 

WHEREAS, pursuant to the Security Agreement, the Pledgor is required to execute and deliver this Copyright Security Agreement. 

NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the ratable benefit of the Secured Parties, to enter
into the Indenture, the Pledgor hereby agrees with the Collateral Agent as follows: 
 SECTION 1. Defined
Terms. Capitalized terms used but not defined herein shall have the meanings given or given by reference to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Copyright Collateral. The Pledgor hereby pledges and grants to the Collateral Agent for
the ratable benefit of the Secured Parties a Lien on and security interest in and to all of the right, title and interest of the Pledgor in, to and under all the following Pledged Collateral of the Pledgor, in each case excluding Excluded Assets,
whether now existing or hereafter arising or acquired from time to time (collectively, the “Copyright Collateral”): 
 (a)
all works of authorship (whether protected by statutory or common law copyright, whether registered or unregistered, and whether published or unpublished) and all copyright registrations and applications therefor, including the United States
registered copyrights, listed on Schedule 1 attached hereto, together with any and all (i) rights and privileges arising under applicable law with respect to the use of the foregoing, (ii) restorations, renewals and extensions
thereof and amendments thereto, (iii) rights to proceeds, income, fees, royalties, damages and payments now or hereafter due and/or payable thereunder and with respect thereto, including damages, claims and payments for past, present or future
infringements or other violations thereof, (iv) rights to sue or otherwise recover for past, present or future infringements or other violations and (v) rights corresponding thereto throughout the world; and 

  
 Exhibit 2 – Form
of Copyright Security Agreement 

 (b) all Exclusive Copyright Licenses listed on Schedule 1 attached hereto. 

SECTION 3. Security Agreement. The security interest granted pursuant to this Copyright Security Agreement is granted in
conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement, and the Pledgor hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the security interest in
the Copyright Collateral made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this
Copyright Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 

SECTION 4. Counterparts. This Copyright Security Agreement may be executed in any number of counterparts, each of which shall
be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Copyright Security Agreement and of signature pages by facsimile or PDF transmission shall constitute effective
execution and delivery of this Copyright Security Agreement as to the parties hereto and may be used in lieu of the original Copyright Security Agreement for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall
be deemed to be their original signatures for all purposes. 
 SECTION 5. Governing Law. The terms of Sections 19.04
and 19.12 of the Indenture with respect to governing law, consent of jurisdiction, service of process, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms.

 SECTION 6. Concerning the Collateral Agent. U.S. Bank National Association is entering this Agreement not in its
individual capacity, but solely in its capacity as Collateral Agent under the Indenture. In acting hereunder, the Collateral Agent shall be entitled to all of the rights, privileges and immunities of the Collateral Agent set forth in the
Indenture, including without limitation in Articles 7 and 17 thereof, as if such rights, privileges and immunities were expressly set forth herein. 

[Signature Page Follows] 

  
 Exhibit 2 – Form
of Copyright Security Agreement 

 IN WITNESS WHEREOF, the Pledgor has caused this Copyright Security Agreement to be executed and
delivered by its duly authorized officer as of the date first set forth above. 
  

			
	[PLEDGOR]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	U.S. BANK NATIONAL ASSOCIATION,
	solely in its capacity as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit 2 – Form
of Copyright Security Agreement 

 SCHEDULE 1 

to 
 COPYRIGHT SECURITY AGREEMENT

 UNITED STATES COPYRIGHT REGISTRATIONS AND COPYRIGHT APPLICATIONS; EXCLUSIVE COPYRIGHT LICENSES 

United States Copyright Registrations: 
  

					
	 OWNER
	  	 TITLE
	  	 REGISTRATION NUMBER

		  		  	

 United States Copyright Applications: 
  

			
	 OWNER
	  	 TITLE

		  	

 Exclusive Copyright Licenses: 

  
 Exhibit 2 – Form
of Copyright Security Agreement 

 EXHIBIT 3 

[Form of] 
 PATENT SECURITY
AGREEMENT 
 This Patent Security Agreement, dated as of [            ],
20[    ] (this “Patent Security Agreement”), by and among the signatory hereto indicated as a “Pledgor” (the “Pledgor”) in favor of U.S. Bank National Association solely in its capacity
as collateral agent for the Secured Parties (in such capacity, together with any successor thereof, the “Collateral Agent”) pursuant to that certain Indenture, dated as of March [    ], 2016 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the “Indenture”), by and among Orexigen Therapeutics, Inc., a Delaware corporation (“Issuer”), the Pledgor and each of the other
guarantors listed on the signature pages thereto, and U.S. Bank National Association, as trustee and as collateral agent. 
 W
I T N E S S E T H: 
 WHEREAS, the Pledgor is party to that certain Security
Agreement dated as of March [    ], 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) in favor of the Collateral Agent pursuant to
which the Pledgor pledged and granted to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in the Patent Collateral (as defined below); and 

WHEREAS, pursuant to the Security Agreement, the Pledgor is required to execute and deliver this Patent Security Agreement. 

NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the ratable benefit of the Secured Parties, to enter
into the Indenture, the Pledgor hereby agrees with the Collateral Agent as follows: 
 SECTION 1. Defined
Terms. Capitalized terms used but not defined herein shall have the meanings given or given by reference to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Patent Collateral. The Pledgor hereby pledges and grants to the Collateral Agent for the
ratable benefit of the Secured Parties a Lien on and security interest in and to all of the right, title and interest of the Pledgor in, to and under all following Pledged Collateral of the Pledgor, in each case excluding Excluded Assets, whether
now existing or hereafter arising or acquired from time to time (collectively, the “Patent Collateral”): all patents and patent applications (whether issued or applied for), including the United States patents and patent
applications, listed on Schedule 1 attached hereto, together with any and all (i) rights and privileges arising under applicable law with respect to the use of any of the foregoing, (ii) inventions and improvements described and
claimed therein, (iii) reissues, substitutes, reexaminations, divisions, renewals, extensions, continuations and continuations-in-part thereof and amendments thereto, (iv) rights to proceeds, income, fees, royalties, damages and payments
now or hereafter due and/or payable thereunder and with respect thereto including damages, claims and payments for past, present or future infringements or other violations thereof, (v) rights to sue or otherwise recover for past, present or
future infringements or other violations thereof and (vi) rights corresponding thereto throughout the world. 
 SECTION 3. Security
Agreement. The security interest granted pursuant to this Patent Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to 

  
 Exhibit 3 – Form
of Patent Security Agreement 

 
the Security Agreement, and the Pledgor hereby acknowledges and affirms that the rights and remedies of the Collateral Agent with respect to the security interest in the Patent Collateral made
and granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Patent Security Agreement is
deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 
 SECTION
4. Counterparts. This Patent Security Agreement may be executed in any number of counterparts, each of which shall be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of
copies of this Patent Security Agreement and of signature pages by facsimile or PDF transmission shall constitute effective execution and delivery of this Patent Security Agreement as to the parties hereto and may be used in lieu of the original
Patent Security Agreement for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

SECTION 5. Governing Law. The terms of Sections 19.04 and 19.12 of the Indenture with respect to governing law,
consent of jurisdiction, service of process, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. 

SECTION 6. Concerning the Collateral Agent. U.S. Bank National Association is entering this Agreement not in its individual
capacity, but solely in its capacity as Collateral Agent under the Indenture. In acting hereunder, the Collateral Agent shall be entitled to all of the rights, privileges and immunities of the Collateral Agent set forth in the Indenture,
including without limitation in Articles 7 and 17 thereof, as if such rights, privileges and immunities were expressly set forth herein. 

[Signature Page Follows] 

  
 Exhibit 3 – Form
of Patent Security Agreement 

 IN WITNESS WHEREOF, the Pledgor has caused this Patent Security Agreement to be executed and
delivered by its duly authorized officer as of the date first set forth above. 
  

			
	[PLEDGOR]
		
	By:	 	  

		 	Name:
		 	Title:

 Accepted and Agreed: 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
	solely in its capacity as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit 3 – Form
of Patent Security Agreement 

 SCHEDULE 1 

to 
 PATENT SECURITY AGREEMENT 

UNITED STATES PATENTS AND PATENT APPLICATIONS 

United States Patents: 
  

					
	 OWNER
	  	 TITLE
	  	 PATENT NUMBER

		  		  	

 United States Patent Applications: 
  

					
	 OWNER
	  	 TITLE
	  	 APPLICATION NUMBER

		  		  	

  
 Exhibit 3 – Form
of Patent Security Agreement 

 EXHIBIT 4 

[Form of] 
 TRADEMARK SECURITY
AGREEMENT 
 This Trademark Security Agreement, dated as of [            ],
20[    ] (this “Trademark Security Agreement”), by and among the signatory hereto indicated as a “Pledgor” (the “Pledgor”) in favor of U.S. Bank National Association solely in its
capacity as collateral agent for the Secured Parties (in such capacity, together with any successor thereof, the “Collateral Agent”) pursuant to that certain Indenture, dated as of March [    ], 2016 (as amended,
restated, amended and restated, supplemented or otherwise modified from time to time, the “Indenture”), by and among Orexigen Therapeutics, Inc., a Delaware corporation (“Issuer”), the Pledgor and each of the other
guarantors listed on the signature pages thereto, and U.S. Bank National Association, as trustee and as collateral agent. 
 W
I T N E S S E T H: 
 WHEREAS, the Pledgor is party to that certain
Security Agreement dated as of March [    ], 2016 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”) in favor of the Collateral Agent
pursuant to which the Pledgor pledged and granted to the Collateral Agent, for the ratable benefit of the Secured Parties, a security interest in the Trademark Collateral (as defined below); and 

WHEREAS, pursuant to the Security Agreement, the Pledgor is required to execute and deliver this Trademark Security Agreement. 

NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the ratable benefit of the Secured Parties, to enter
into the Indenture, the Pledgor hereby agrees with the Collateral Agent as follows: 
 SECTION 1. Defined
Terms. Capitalized terms used but not defined herein shall have the meanings given or given by reference to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Trademark Collateral. The Pledgor hereby pledges and grants to the Collateral Agent for
the ratable benefit of the Secured Parties a Lien on and security interest in and to all of the right, title and interest of the Pledgor in, to and under all the following Pledged Collateral of the Pledgor, in each case excluding Excluded Assets,
whether now existing or hereafter arising or acquired from time to time (collectively, the “Trademark Collateral”): all trademarks (including service marks), slogans, logos, certification marks, trade dress, uniform resource
locations (URLs), domain names, corporate names, trade names, or other indicia of source, whether registered or unregistered, all registrations and applications for the foregoing (whether statutory or common law and whether registered or applied for
in the United States or any other country, multi-national registry or any political subdivision thereof), including the United States trademark and service mark registrations and applications for registration listed on Schedule 1 attached
hereto, together with any and all (i) rights and privileges arising under applicable law with respect to the use of any of the foregoing, (ii) all goodwill of the business connected with the use thereof and symbolized thereby, (iii)
extensions and renewals thereof and amendments thereto, (iv) rights to proceeds, income, fees, royalties, damages and payments now and hereafter due and/or payable thereunder and with respect thereto, including damages, claims and payments for
past, present or future infringements, dilutions or other violations thereof, (v) rights to sue or otherwise recover for past, present and future infringements, dilutions or other violations thereof and (vi) rights corresponding thereto
throughout the world. 

  
 Exhibit 4 – Form
of Trademark Security Agreement 

 SECTION 3. Security Agreement. The security interest granted pursuant to this
Trademark Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement, and the Pledgor hereby acknowledges and affirms that the rights and remedies of the Collateral
Agent with respect to the security interest in the Trademark Collateral made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth
herein. In the event that any provision of this Trademark Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 

SECTION 4. Counterparts. This Trademark Security Agreement may be executed in any number of counterparts, each of which shall
be an original, but such counterparts shall together constitute but one and the same instrument. The exchange of copies of this Trademark Security Agreement and of signature pages by facsimile or PDF transmission shall constitute effective
execution and delivery of this Trademark Security Agreement as to the parties hereto and may be used in lieu of the original Trademark Security Agreement for all purposes. Signatures of the parties hereto transmitted by facsimile or PDF shall
be deemed to be their original signatures for all purposes. 
 SECTION 5. Governing Law. The terms of Sections 19.04
and 19.12 of the Indenture with respect to governing law, consent of jurisdiction, service of process, venue and waiver of jury trial are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms.

 SECTION 6. Concerning the Collateral Agent. U.S. Bank National Association is entering this Agreement not in its individual
capacity, but solely in its capacity as Collateral Agent under the Indenture. In acting hereunder, the Collateral Agent shall be entitled to all of the rights, privileges and immunities of the Collateral Agent set forth in the Indenture,
including without limitation in Articles 7 and 17 thereof, as if such rights, privileges and immunities were expressly set forth herein. 

[Signature Page Follows] 

  
 Exhibit 4 – Form
of Trademark Security Agreement 

 IN WITNESS WHEREOF, the Pledgor has caused this Trademark Security Agreement to be executed and
delivered by its duly authorized officer as of the date first set forth above. 
  

			
	[PLEDGOR]
		
	By:	 	  

		 	Name:
		 	Title:

 Accepted and Agreed: 
  

			
	U.S. BANK NATIONAL ASSOCIATION,
	solely in its capacity as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 Exhibit 4 – Form
of Trademark Security Agreement 

 SCHEDULE 1 

to 
 TRADEMARK SECURITY AGREEMENT

 UNITED STATES TRADEMARK REGISTRATIONS AND APPLICATIONS 

United States Trademark Registrations: 
  

					
	 OWNER
	  	 TITLE
	  	 REGISTRATION NUMBER

		  		  	

 United States Trademark Applications: 
  

					
	 OWNER
	  	 MARK
	  	 SERIAL NUMBER

		  		  	

  
 Exhibit 4 – Form
of Trademark Security AgreementExhibit 10.11

 

SOVEREIGN BANK – LOAN NO. 17003864 (REVOLVING CREDIT FACILITY)

 

TENTH AMENDMENT TO

AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT

 

THIS TENTH AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) dated as of JUNE 30, 2015 (the “Effective Date”), is by and between SOVEREIGN BANK, a Texas state bank (together with its successors and assigns, “Lender”), and DAWSON GEOPHYSICAL COMPANY, a Texas corporation (“Debtor”), formerly known as TGC INDUSTRIES, INC.

 

RECITALS

 

WHEREAS, Debtor and Lender entered into that certain AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT dated as of SEPTEMBER 16, 2009 (as amended, modified, and restated from time to time, the “Agreement”), pursuant to which Lender agreed to make certain credit facilities available to Debtor on the terms and conditions set forth therein.

 

WHEREAS, the parties desire to amend the Agreement pursuant to the terms and conditions set forth herein.

 

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.                                      Defined Terms. Capitalized terms used in this Amendment, to the extent not otherwise defined herein, shall have the same meanings as in the Agreement, as amended hereby. Section 1 of the Agreement is further amended as follows:

 

(a)                                 The defined term “Letter of Credit” is hereby added to the Agreement in the correct alphabetical order as follows (with other defined terms being re-lettered, as applicable):

 

“Letter of Credit” means that certain letter of credit with an issue date of November 23, 2015, issued by Lender, at the request of Debtor, as applicant, for the benefit of AIG ASSURANCE COMPANY and the other beneficiaries named therein, for drawings up to ONE MILLION SEVEN HUNDRED SIXTY-SEVEN THOUSAND ONE HUNDRED FIFTEEN AND NO/100 DOLLARS (1,767,115.00).

 

(b)                                 The following sentence is hereby added at the end of the definition of “Indebtedness”:

 

“The Indebtedness includes all obligations of Debtor to Lender under the Letter of Credit.”

 

2.                                      Addition of Section 2(f). A new Section 2(f) is hereby added to the Agreement as follows:

 

(f)                                   Letter of Credit.

 

(i)                                     Debtor hereby requests Lender to issue the Letter of Credit. Subject to the terms and conditions set forth in this Agreement and the other Loan Documents, Lender hereby agrees to issue the Letter of Credit on November 23,  2015. Each advance by Lender pursuant to a drawing under the Letter of Credit is due and payable on the date that is THIRTY (30) days after such drawing date, and will be charged by Lender as (and will be deemed to be) a Loan under the Revolving Credit Facility by Lender as of the day and time such payment is made by Lender and in the amount of such payment. Effective on the date of issuance of the Letter of Credit, a reserve against the Borrowing Base shall be established in an amount equal to the Letter of Credit and all other commitments and obligations made or incurred by Lender with respect thereto. Debtor shall pay Lender an Issuance Fee of $17,671.15 upon issuance of the Letter of Credit.

 

1

 

(ii)                                  Debtor authorizes Lender to accept, honor, or pay (as applicable) against any draft or other document which on its face appears otherwise in order and is signed, issued, or presented by any party or under the name of any party (a) purporting to act with authority (actual or apparent) on behalf of the beneficiary in whose name the Letter of Credit requires that any draft or document must be drawn, issued, or presented; (b) purporting to claim through such beneficiary; or (c) posing as such beneficiary. Debtor agrees to reimburse Lender any and all amounts which Lender pays under the Letter of Credit notwithstanding any legal or factual insufficiency or infirmity in such party’s conduct or in any of the documents referenced in items (a), (b) or (c) above. Debtor shall indemnify and hold Lender harmless from and against any and all losses, claims, damages, liabilities, costs and expenses which Lender may suffer or incur in connection with the Letter of Credit and any documents, drafts or acceptances relating thereto, including any losses, claims, damages, liabilities, costs and expenses due to (A) any action taken by any issuer or correspondent with respect to the Letter of Credit, or (B) if applicable, any fluctuation in the exchange rates for foreign currency: provided, however, that such indemnity shall not, as to the Lender, be available to the extent that such losses, claims, damages, liabilities, costs or expenses resulted from the Lender’s gross negligence or willful misconduct, IT BEING EXPRESSLY UNDERSTOOD AND AGREED THAT SUCH INDEMNITY SHALL EXTEND TO AND COVER LENDER’S NEGLIGENCE. Debtor assumes all risks with respect to the acts or omissions of the drawer under or beneficiary of the Letter of Credit and for such purposes the drawer or beneficiary shall be deemed Debtor’s agent. Debtor assumes all risks for, and agrees to pay, all foreign, Federal, State and local taxes, duties and levies relating to any goods subject to the Letter of Credit or any documents, drafts or acceptances thereunder. Debtor hereby releases and holds Lender harmless from and against any acts, waivers, errors, delays or omissions, whether caused by Debtor, by any issuer or correspondent or otherwise with respect to or relating to the Letter of Credit. The provisions of this Section shall survive the payment of obligations of Debtor hereunder and the termination of this Agreement.

 

(iii)                               Nothing contained herein shall be deemed or construed to grant Debtor any right or authority to pledge the credit of Lender in any manner. Lender shall have no liability of any kind with respect to the Letter of Credit provided by an issuer other than Lender unless Lender has duly executed and delivered to such issuer the application or a guarantee or indemnification in writing with respect to the Letter of Credit. Debtor shall be bound by any interpretation made by Lender, or any other issuer or correspondent under or in connection with the Letter of Credit or any documents, drafts or acceptances thereunder, notwithstanding that such interpretation may be inconsistent with any instructions of Debtor. Lender shall have the sole and exclusive right and authority to, and Debtor shall not: (A) at any time an Event of Default has occurred and is continuing, (l) approve or resolve any questions on non-compliance of documents or (2) give any instructions as to acceptance or rejection of any documents or goods, and (B) at all times, grant any extensions of the maturity of, time of payment for, or time of presentation of, any drafts, acceptances, or documents, drafts or acceptances thereunder or any letters of credit included in the Collateral. Lender may take any such actions either in its own name or in Debtor’s name.

 

(iv)                              If as a result of any regulatory change there shall be imposed, modified, or deemed applicable any tax, reserve, special deposit, or similar requirement against or with respect to or measured by reference the Letter of Credit and the result shall be to increase the cost to the Lender of issuing or maintaining the Letter of Credit or reduce any amount receivable by the Lender hereunder in respect of the Letter of Credit (which increase in cost, or reduction in amount receivable, shall be the result of the Lender’s reasonable allocation of the aggregate of such increases or reductions resulting from such event), then, upon demand by the Lender, Debtor agrees to pay the Lender, from time to time as specified by the Lender, such additional amounts as shall be sufficient to compensate the Lender for such increased costs or reductions in amount. A statement as to such increased costs or reductions in amount incurred by the Lender, submitted by the Lender to the Debtor, shall be conclusive as to the amount thereof, provided that the determination thereof is made on a reasonable basis.

 

(v)                                 Neither Lender nor any of Lender’s correspondents shall be responsible for, and Debtor’s obligation to reimburse Lender shall not be affected by any change of circumstances or conditions or action of any person related to the Letter of Credit or this Agreement including without limitation: (a) the validity, accuracy, sufficiency or genuineness of drafts, documents, certificates, statements or endorsements thereon, even if such drafts, documents, certificates, statements or endorsements thereon

 

2

 

prove, in fact, to be in any respect invalid, insufficient, fraudulent or forged; (b) any breach of any agreement between Debtor and the Beneficiary of the Letter of Credit or any other party, even if Lender has received notice of same; (c) any failure of any draft to bear any reference or adequate reference to the Letter of Credit; (d) any act or omission by Lender in connection with the Letter of Credit or related drafts and documents if done in good faith; (e) any omissions, interruptions, errors, mis-deliveries or delays in the transmission or delivery of any documents, message or communication by mall, cable, telegram or other media in connection with the Letter of Credit; (f) any act, error, default, omission or failure in business of the Beneficiary, any correspondent or any other party, or any other act or omission beyond Lender’s control; (g) any acceptance or payment of overdrafts or irregular drafts or extensions of time limits or other changes or variations in, the Letter of Credit if assented to, orally or in writing, by Debtor; Debtor shall be conclusively deemed to have waived any right to object to such variation unless within three days of receipt of such irregular drafts or documents or notice of such variation, Debtor files written notice with Lender; (h) any delay by any party in giving, or failing to give notice of any default under any agreement involving Lender; (i) failure by Lender to perfect any interest in or exercise any right with respect to the collateral securing this Agreement or any other security, endorsement, or guarantee it may have for payment of Debtor’s obligations; and, (j) any amendments to which Debtor has assented.

 

(vi)                              Lender shall not be responsible to Debtor for, and Lender’s right to reimbursement, indemnification, and other payments hereunder shall not be impaired by any act or omission for which an issuer of a letter of credit is relieved of responsibility under the 2007 Revision of the Uniform Customs and Practice for Documentary Credits of the international Chamber of Commerce, ICC Publication No. 600 or other applicable law. In addition, Debtor acknowledges that it has reviewed and agreed to the proposed language of the Letter of Credit and that Lender shall not be responsible for the inclusion or absence of any terms or conditions in that document. Lender shall not be liable for any special, indirect, or consequential damages, unless there is clear and convincing evidence that such damages resulted from Lender’s bad faith.

 

(vii)                           The governing law provisions of this Agreement shall apply to this Section, except to the extent such laws are inconsistent with the 2007 Revision of the Uniform Customs and Practice for Documentary Credits of the International Chamber of Commerce, ICC Publication No. 600.

 

(viii)                        If any Event of Default shall occur and be continuing or the Revolving Credit Maturity Date shall have occurred, Debtor shall, if requested by the Lender, immediately deposit with and pledge to the Lender cash or cash equivalent investments in an amount equal to the outstanding face amount of the Letter of Credit as security for the obligations thereunder.

 

3.                                      Conditions Precedent. The obligations of Lender under this Amendment shall be subject to the condition precedent that Debtor shall have executed and delivered to Lender this Amendment and such other documents and instruments incidental and appropriate to the transaction provided for herein as Lender or its counsel may reasonably request.

 

4.                                      Payment Expenses. Debtor agrees to pay all reasonable attorneys’ fees of Lender in connection with the drafting and execution of this Amendment.

 

5.                                      Ratifications. Except as expressly modified and superseded by this Amendment, the Agreement and the other Loan Documents are ratified and confirmed and continue in full force and effect. The Loan Documents, as modified by this Amendment, continue to be legal, valid, binding and enforceable in accordance with their respective terms. Without limiting the generality of the foregoing, Debtor hereby ratifies and confirms that all liens heretofore granted to Lender were intended to, do and continue to secure the full payment and performance of the indebtedness arising under the Loan Documents. Debtor agrees to perform such acts and duly authorize, execute, acknowledge, deliver, file and record such additional assignments, security agreements, modifications or agreements to any of the foregoing, and such other agreements, documents and instruments as Lender may reasonably request in order to perfect and protect those liens and preserve and protect the rights of Lender in respect of all present and future collateral. The terms, conditions and provisions of the Loan Documents (as the same may have been amended, modified or restated from time to time) are incorporated herein by reference, the same as if stated verbatim herein.

 

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6.                                      Representations, Warranties and Confirmations. Debtor hereby represents and warrants to Lender that (a) this Amendment and any other Loan Documents to be delivered under this Amendment (if any) have been duly executed and delivered by Debtor, are valid and binding upon Debtor and are enforceable against Debtor in accordance with their terms, except as limited by any applicable bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and except to the extent specific remedies may generally be limited by equitable principles, (b) no action of, or filing with, any governmental authority is required to authorize, or is otherwise required in connection with, the execution, delivery and performance by Debtor of this Amendment or any other Loan Document to be delivered under this Amendment, and (c) the execution, delivery and performance by Debtor of this Amendment and any other Loan Documents to be delivered under this Amendment do not require the consent of any other person and do not constitute a violation of any laws, agreements or understandings to which Debtor is a party or by which Debtor is bound.

 

7.                                      Release. Debtor hereby acknowledges and agrees that it knows of no defenses, counterclaims, offsets, cross-complaints, claims or demands of any kind or nature whatsoever to or against Lender or the terms and provisions of or the obligations of Debtor under the Loan Documents and the other agreements, instruments and documents evidencing, securing, governing, guaranteeing or pertaining thereto, and that Debtor has no right to seek affirmative relief or damages of any kind or nature from Lender with respect thereto. To the extent Debtor knows of any such defenses, counterclaims, offsets, cross-complaints, claims, demands or rights, Debtor hereby waives, and hereby knowingly and voluntarily releases and forever discharges Lender and its predecessors, officers, directors, agents, attorneys, employees, successors and assigns, from all possible claims, demands, actions, causes of action, defenses, counterclaims, offsets, cross-complaints, damages, costs, expenses and liabilities whatsoever with respect thereto, such waiver and release being with full knowledge and understanding of the circumstances and effects of such waiver and release and after having consulted legal counsel with respect thereto.

 

8.                                      Multiple Counterparts. This Amendment may be executed in a number of identical separate counterparts, each of which for all purposes is to be deemed an original, but all of which shall constitute, collectively, one agreement. Signature pages to this Amendment may be detached from multiple separate counterparts and attached to the same document and a telecopy or other facsimile of any such executed signature page shall be valid as an original.

 

9.                                      Reference to Loan Documents. Each of the Loan Documents, including the Agreement and any and all other agreements, documents, or instruments now or hereafter executed and delivered pursuant to the terms hereof containing a reference to any Loan Document shall mean and refer to such Loan Document as amended hereby.

 

10.                               Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable.

 

11.                               Headings. The headings, captions, and arrangements used in this Amendment are for convenience only and shall not affect the interpretation of this Amendment.

 

NOTICE OF FINAL AGREEMENT

 

THE AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS THE SAME MAY BE AMENDED BY THIS AMENDMENT, REPRESENT THE FINAL AGREEMENT BETWEEN AND AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN AND AMONG THE PARTIES.

 

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REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the date first written above.

 

	
LENDER:
    	
 
    	
ADDRESS:
    
	
 
    	
 
    	
 
    
	
SOVEREIGN BANK
    	
 
    	
6060 Sherry Lane
    
	
 
    	
 
    	
Dallas, TX 75225
    
	
By:
    	
/s/ Stephanie Baird   Velasquez
    	
 
    	
 
    
	
Name:
    	
Stephanie Baird   Velasquez
    	
 
    	
 
    
	
Title:
    	
Area President
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
With copies of notices to:
    	
 
    	
GARDERE WYNNE SEWELL   LLP
    
	
 
    	
 
    	
1601 Elm Street,   Suite 3000
    
	
 
    	
 
    	
Dallas, TX 75201-4761
    
	
 
    	
 
    	
Attention: Steven S.   Camp
    
	
 
    	
 
    	
 
    
	
DEBTOR:
    	
 
    	
ADDRESS:
    
	
 
    	
 
    	
 
    
	
DAWSON GEOPHYSICAL COMPANY
    	
 
    	
101 E. Park Blvd.,   Suite 955 
    
	
 
    	
 
    	
Plano, TX 75074 
    
	
By:
    	
/s/ Wayne Whitener
    	
 
    	
 
    
	
Name:
    	
Wayne Whitener
    	
 
    	
 
    
	
Title:
    	
Executive Vice Chairman
    	
 
    	
 
    
					

 

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