Document:

EX-10.2

 Exhibit 10.2 

AMENDED AND RESTATED SECURITY AND PLEDGE AGREEMENT 

THIS AMENDED AND RESTATED SECURITY AND PLEDGE AGREEMENT (this “Agreement”) is entered into as of July 30, 2020 among
ASTRONOVA, INC., a Rhode Island corporation (the “Borrower”), and such other parties that may become Grantors hereunder after the date hereof (together with the Borrower, each individually a “Grantor”, and
collectively, the “Grantors”) and BANK OF AMERICA, N.A., in its capacity as lender and as agent for the Secured Parties (in such capacity, the “Lender”). 

RECITALS 
 WHEREAS,
the Borrower previously entered into that certain Credit Agreement dated as of February 28, 2017 by, among others, the Borrower, the guarantors party thereto and the Lender (as amended, restated, supplemented, or otherwise modified from time to
time, the “Existing Credit Agreement”); 
 WHEREAS, in connection with the Existing Credit Agreement, the Borrower
and certain other grantors entered into that certain Security and Pledge Agreement dated as of February 28, 2017 in favor of the Lender (as amended, restated, supplemented or otherwise modified from time to time, the “Existing Pledge
and Security Agreement”); 
 WHEREAS, the parties hereto, among others, have agreed to amend and restate the Existing Credit
Agreement, which shall become effective upon the satisfaction of the conditions precedent set forth in Section 4.01 of that certain Amended and Restated Credit Agreement dated as of the date hereof (as amended, restated, supplemented or
otherwise modified from time to time, the “A&R Credit Agreement”), pursuant to which the Lender together with certain of its branch offices and affiliates have agreed to make Loans and issue Letters of Credit upon the terms and
subject to the conditions set forth therein; 
 WHEREAS, one of the conditions precedent to the A&R Credit Agreement is the
execution by the Grantors of this Agreement; and 
 WHEREAS, it is the intent of the parties hereto that this Agreement not
constitute a novation of the obligations and liabilities existing under the Existing Pledge and Security Agreement or evidence repayment of any of such obligations and liabilities and that this Agreement amend and restate in its entirety the
Existing Pledge and Security Agreement and re-evidence the obligations of the Grantors outstanding thereunder, as modified by the A&R Credit Agreement and this Agreement. 

NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree as
follows: 
 1. Definitions. 

(a) Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the A&R
Credit Agreement. With reference to this 

 
Agreement, unless otherwise specified herein: (i) the definitions of terms herein shall apply equally to the singular and plural forms of the terms defined, (ii) whenever the context
may require, any pronoun shall include the corresponding masculine, feminine and neuter forms, (iii) the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without
limitation”, (iv) the word “will” shall be construed to have the same meaning and effect as the word “shall”, (v) any definition of, or reference to, any agreement, instrument or other document herein shall be construed as
referring to such agreement, instrument or other document, as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (vi) any reference herein to
any Person shall be construed to include such Person’s permitted successors and assigns, (vii) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (viii) all references herein to Sections, Exhibits and Schedules shall be construed to refer to Sections of, and Exhibits and Schedules to, this Agreement, (ix) the
words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights, (x) the
term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form, (xi) in the computation of
periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through”
means “to and including”, (xii) Section headings herein are included for convenience of reference only and shall not affect the interpretation of this Agreement and (xiii) where the context requires, terms relating to the Collateral
or any part thereof, when used in relation to a Grantor, shall refer to such Grantor’s Collateral or the relevant part thereof. 

(b) The following terms shall have the meanings set forth in the UCC (defined below): Accession, Account, Account Debtor,
Adverse Claim, As-Extracted Collateral, Certificated Security, Chattel Paper, Commercial Tort Claim, Consumer Goods, Deposit Account, Document, Electronic Chattel Paper, Equipment, Farm Products, Financial
Asset, Fixtures, General Intangible, Goods, Instrument, Inventory, Investment Company Security, Investment Property, Letter-of-Credit Right, Manufactured Home, Payment
Intangible, Proceeds, Securities Account, Securities Intermediary, Security, Software, Supporting Obligation and Tangible Chattel Paper. 

(c) In addition, the following terms shall have the meanings set forth below: 

“Assignment of Claims Act” means the Assignment of Claims Act of 1940 (41 U.S.C. Section 15, 31 U.S.C.
Section 3737, and 31 U.S.C. Section 3727), including all amendments thereto and regulations promulgated thereunder. 

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

“Control” means the manner in which “control” is achieved under the UCC with respect to any
Collateral for which the UCC specifies a method of achieving “control”. 

  
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 “Copyright License” means any agreement now or hereafter in
existence, providing for the grant to any Grantor of any rights (including, without limitation, the grant of rights for a party to be designated as an author or owner and/or to enforce, defend, use, display, copy, manufacture, distribute, exploit
and sell, make derivative works, and require joinder in suit and/or receive assistance from another party) covered in whole or in part by a Copyright of any other Person. 

“Copyrights” means, collectively, all of the following of any Person: (i) all copyrights, works
protectable by copyright, copyright registrations and copyright applications anywhere in the world, (ii) all derivative works, counterparts, extensions and renewals of any of the foregoing, (iii) all income, royalties, damages and payments
now or hereafter due and/or payable under any of the foregoing or with respect to any of the foregoing, including, without limitation, damages or payments for past, present and future infringements, violations or misappropriations of any of the
foregoing, (iv) the right to sue for past, present and future infringements, violations or misappropriations of any of the foregoing and (v) all rights corresponding to any of the foregoing throughout the world. 

“Government Contract” means a contract between any Grantor and an agency, department or instrumentality of the
United States or any state, municipal or local Governmental Authority located in the United States or all obligations of any such Governmental Authority arising under any Account now or hereafter owing by any such Governmental Authority, as Account
Debtor, to any Grantor. 
 “Intellectual Property” means, collectively, all of the following of any Grantor:
(i) all systems software and applications software (including source code and object code), all documentation for such software, including, without limitation, user manuals, flowcharts, functional specifications, operations manuals, and all
formulas, processes, ideas and know-how embodied in any of the foregoing, (ii) concepts, discoveries, improvements and ideas, know-how, technology, reports, design
information, trade secrets, practices, specifications, test procedures, maintenance manuals, research and development, inventions (whether or not patentable), blueprints, drawings, data, customer lists, catalogs, and all physical embodiments of any
of the foregoing, (iii) Patents and Patent Licenses, Copyrights and Copyright Licenses, Trademarks and Trademark Licenses, in each case of such Grantor and (iv) other agreements with respect to any rights in any of the items described in
the foregoing clauses (i), (ii), and (iii). 
 “Issuer” means the issuer of any Pledged Equity. 

“Patent License” means any agreement, now or hereafter in existence, providing for the grant to any Grantor of
any rights (including, without limitation, the right for a party to be designated as an owner and/or to enforce, defend, make, have made, make improvements, manufacture, use, sell, import, export, and require joinder in suit and/or receive
assistance from another party) covered in whole or in part by a Patent of any other Person. 

  
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 “Patents” means collectively, all of the following of any
Person: (i) all patents, all inventions and patent applications anywhere in the world, (ii) all improvements, counterparts, reissues, divisional, re-examinations, extensions, continuations (in whole
or in part) and renewals of any of the foregoing and improvements thereon, (iii) all income, royalties, damages or payments now or hereafter due and/or payable under any of the foregoing or with respect to any of the foregoing, including,
without limitation, damages or payments for past, present or future infringements, violations or misappropriations of any of the foregoing, (iv) the right to sue for past, present and future infringements, violations or misappropriations of any
of the foregoing and (v) all rights corresponding to any of the foregoing throughout the world. 
 “Pledged
Equity” means, with respect to each Grantor, 100% of the issued and outstanding Equity Interests of each Subsidiary of such Grantor that is directly owned by such Grantor, in each case together with the certificates (or other
agreements or instruments), if any, representing such shares, and all options and other rights, contractual or otherwise, with respect thereto, including, but not limited to, the following: 

(1) all Equity Interests representing a dividend thereon, or representing a distribution or return of capital upon or in
respect thereof, or resulting from a stock split, revision, reclassification or other exchange therefor, and any subscriptions, warrants, rights or options issued to the holder thereof, or otherwise in respect thereof; and 

(2) in the event of any consolidation or merger involving any Issuer and in which such Issuer is not the surviving Person, all
shares of each class of the Equity Interests of the successor Person formed by or resulting from such consolidation or merger, to the extent that such successor Person is a direct Subsidiary of a Grantor. 

provided, however, unless an Event of Default has occurred and is continuing, the Borrower shall not be obligated to pledge the
Equity Interests of (i) the following of its Subsidiaries, AstroNova (Shanghai) Trading Co., Ltd, a Chinese limited liability company, AstroDigital Data de México, S.A., de C.V., a Mexican sociedad anónima de capital variable, and
AstroNova Aerospace, Inc., a Delaware corporation; or (ii) any Foreign Subsidiaries formed after the Effective Date with the primary purpose of providing the Borrower with a foreign sales office, and provided further that such Foreign
Subsidiary (x) holds minimal operational assets and no other material assets and (y) constitutes an Immaterial Subsidiary for purposes of the A&R Credit Agreement. 

“Trademark License” means any agreement, now or hereafter in existence, providing for the grant to any
Grantor of any rights in (including, without limitation, the right for a party to be designated as an owner and/or to enforce, defend, use, mark, police, and require joinder in suit and/or receive assistance from another party) covered in whole, or
in part, by a Trademark of any other Person. 

  
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 “Trademarks” means, collectively, all of the following of
any Person: (i) all trademarks, trade names, corporate names, company names, business names, fictitious business names, internet domain names, trade styles, service marks, logos, other business identifiers, whether registered or unregistered,
all registrations and recordings thereof, and all applications in connection therewith (other than each United States application to register any trademark or service mark prior to the filing under applicable Law of a verified statement of use for
such trademark or service mark) anywhere in the world, (ii) all counterparts, extensions and renewals of any of the foregoing, (iii) all income, royalties, damages and payments now or hereafter due and/or payable under any of the foregoing
or with respect to any of the foregoing, including, without limitation, damages or payments for past, present or future infringements, violations, dilutions or misappropriations of any of the foregoing, (iv) the right to sue for past, present
or future infringements, violations, dilutions or misappropriations of any of the foregoing and (v) all rights corresponding to any of the foregoing (including the goodwill) throughout the world. 

“Vehicles” means all cars, trucks, trailers, construction and earth moving equipment and other vehicles
covered by a certificate of title under the laws of any state, all tires and all other appurtenances to any of the foregoing. 

“Vessel” means any watercraft or other artificial contrivance used, or capable of being used, as a means of
transportation on water (including, without limitation, those whose primary purpose is the maritime transportation of cargo or which are otherwise engaged, used or useful in any business activities of the Grantors) which are owned by and registered
(or to be owned and registered) in the name of any of the Grantors, including, without limitation, any Vessel leased or otherwise registered in the foregoing parties’ names, pursuant to a lease or other operating agreement constituting a
capital lease obligation, in each case together with all related spares, equipment and any additional improvements, vessel owned, bareboat chartered or operated by a Grantor other than Vessels owned by an entity other than a Grantor and which are
managed under Vessel management agreements. 
 “UCC” means the Uniform Commercial Code as in effect from
time to time in the state of New York except as such term may be used in connection with the perfection of the Collateral and then the applicable jurisdiction with respect to such affected Collateral shall apply. 

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

“Work” means any work that is subject to copyright protection pursuant to Title 17 of the United States Code.

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

  
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currency and Cash Equivalents; (c) all Chattel Paper (including Electronic Chattel Paper and Tangible Chattel Paper); (d) those certain Commercial Tort Claims set forth on
Schedule 5.20(e) to the A&R Credit Agreement (as updated from time to time in accordance with the A&R Credit Agreement); (e) all Deposit Accounts; (f) all Documents; (g) all Equipment; (h) all
Fixtures; (i) all General Intangibles; (j) all Goods; (k) all Instruments; (l) all Intellectual Property; (m) all Inventory; (n) all Investment Property (subject to the applicable limitations set forth in the definition
of Pledged Equity); (o) all Letter-of-Credit Rights; (p) all Payment Intangibles; (q) all Pledged Equity; (r) all Securities Accounts; (s) all
Software; (t) all Supporting Obligations; (u) all Vehicles; (v) all books and records pertaining to the Collateral; (w) all Accessions and all Proceeds and products of any and all of the foregoing and (x) all other personal
property of any kind or type whatsoever now or hereafter owned by such Grantor or as to which such Grantor now or hereafter has the power to transfer interest therein. 

Notwithstanding anything to the contrary contained herein, the security interests granted under this Agreement shall not extend to
(a) Excluded Property (including, without limitation, any Equity Interests of Subsidiaries not constituting Pledged Equity as provided in the definition thereof), (b) any General Intangible, permit, lease, license, contract or other Instrument
of a Grantor to the extent the grant of a security interest in such General Intangible, permit, lease, license, contract or other Instrument in the manner contemplated by this Agreement, under the terms thereof or under applicable Law, is prohibited
and would result in the termination thereof or give the other parties thereto the right to terminate, accelerate or otherwise alter such Grantor’s rights, titles and interests thereunder (including upon the giving of notice or the lapse of time
or both) or (c) any United States intent-to-use trademark applications to the extent that, and solely during the period in which the grant of a security interest
therein would impair the validity or enforceability of or render void or result in the cancellation of, any registration issued as a result of such intent-to-use
trademark applications under applicable Law; provided that upon submission and acceptance by the USPTO of an amendment to allege use pursuant to 15 U.S.C. Section 1060(a) or any successor provision), such
intent-to-use trademark application shall be considered Collateral; provided, further that (i) any such limitation described in the foregoing clause
(b) on the security interests granted hereunder shall only apply to the extent that any such prohibition or right to terminate or accelerate or alter the Grantor’s rights is not rendered ineffective pursuant to the UCC or any other
applicable Law (including Debtor Relief Laws) or principles of equity and (ii) in the event of the termination or elimination of any such prohibition or right or the requirement for any consent contained in any applicable Law, General
Intangible, permit, lease, license, contract or other Instrument, to the extent sufficient to permit any such item to become Collateral hereunder, or upon the granting of any such consent, or waiving or terminating any requirement for such consent,
a security interest in such General Intangible, permit, lease, license, contract or other Instrument shall be automatically and simultaneously granted hereunder and shall be included as Collateral hereunder. 

The Grantors and the Lender, on behalf of the Secured Parties, hereby acknowledge and agree that the security interest created hereby in the
Collateral (a) constitutes continuing collateral security for all of the Secured Obligations, whether now existing or hereafter arising and (b) is not to be construed as an assignment of any Intellectual Property. 

3. Representations and Warranties. Each Grantor hereby represents and warrants to the Lender, for the benefit of the Secured Parties,
that until the Facility Termination Date, that: 

  
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 (a) Ownership. Each Grantor is the legal and beneficial owner of its
Collateral and has the right to pledge and grant a security interest in the same. There exists no Adverse Claim (other than Permitted Liens under Section 7.01(c) and Section 7.01(k) of the A&R Credit Agreement) with respect to the
Pledged Equity of such Grantor. 
 (b) Security Interest/Priority. This Agreement creates a valid security interest in
favor of the Lender, for the benefit of the Secured Parties, in the Collateral of such Grantor and, when properly perfected by filing, shall constitute a valid and perfected, first priority (subject only to Permitted Liens that by their nature may
have priority) security interest in such Collateral (including all uncertificated Pledged Equity consisting of partnership or limited liability company interests that do not constitute Securities), to the extent such security interest can be
perfected by filing under the UCC, free and clear of all Liens except for Permitted Liens. No Grantor has authenticated any agreement authorizing any secured party thereunder to file a financing statement, except to perfect Permitted Liens. The
taking possession by the Lender of the certificated securities (if any) evidencing the Pledged Equity and all other Instruments constituting Collateral will perfect and establish the first priority (subject only to Permitted Liens that by their
nature may have priority) of the Lender’s security interest in all the Pledged Equity evidenced by such certificated securities and such Instruments. With respect to any Collateral consisting of a Deposit Account, Securities Entitlement or
Securities Account, upon execution and delivery by the applicable Grantor, the applicable Securities Intermediary and the Lender of an agreement granting control to the Lender over such Collateral, the Lender shall have a valid and perfected, first
priority security interest in such Collateral. 
 (c) Types of Collateral. None of the Collateral consists of, or is
the Proceeds of, (i) As-Extracted Collateral, (ii) Consumer Goods, (iii) Farm Products, (iv) Manufactured Homes, (v) standing timber, (vi) an aircraft, airframe, aircraft engine
or related property, (vii) an aircraft leasehold interest, (viii) a Vessel or (ix) any other interest in or to any of the foregoing. 

(d) Accounts. (i) Each Account of the Grantors and the papers and documents relating thereto are genuine and in all
material respects what they purport to be, (ii) each Account arises out of (A) a bona fide sale of goods sold and delivered by such Grantor (or is in the process of being delivered) or (B) services theretofore actually rendered by
such Grantor to, the account debtor named therein, and (iii) no Account of a Grantor is evidenced by any Instrument or Chattel Paper unless such Instrument or Chattel Paper, to the extent requested by the Lender, has been endorsed over and
delivered to, or submitted to the control of, the Lender. 
 (e) Equipment and Inventory. With respect to any
Equipment and/or Inventory of a Grantor, each such Grantor has exclusive possession and control of such Equipment and Inventory of such Grantor except for (i) Equipment leased by such Grantor as a lessee, (ii) Equipment or Inventory in
transit with common carriers or (iii) Equipment and/or Inventory in the possession or control of a warehouseman, bailee or any agent or processor of such Grantor to the extent such Grantor has complied with Section 4(e). 

  
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 (f) Authorization of Pledged Equity. All Pledged Equity (i) is
duly authorized and validly issued, (ii) is fully paid and, to the extent applicable, nonassessable and is not subject to the preemptive rights of any Person, (iii) is beneficially owned as of record by a Grantor, and (iv) constitutes
all the issued and outstanding shares of all classes of the equity of such Issuer issued to such Grantor. 
 (g) No Other
Equity Interests, Instruments, Etc. As of the Closing Date, (i) no Grantor owns any certificated Equity Interests in any Subsidiary that are required to be pledged and delivered to the Lender hereunder pursuant to the definition of Pledged
Equity except as set forth on Schedule 5.20(f) to the A&R Credit Agreement (as updated from time to time in accordance with the A&R Credit Agreement), and (ii) no Grantor holds any Instruments, Documents or
Tangible Chattel Paper required to be pledged and delivered to the Lender pursuant to Section 4(c)(i) of this Agreement other than as set forth on Schedule 5.20(c) to the A&R Credit Agreement (as updated from time
to time in accordance with the A&R Credit Agreement). All such certificated securities, Instruments, Documents and Tangible Chattel Paper have been delivered to the Lender to the extent (A) requested by the Lender or (B) as
required by the terms of this Agreement and the other Loan Documents. 
 (h) Partnership and Limited Liability Company
Interests. Except as previously disclosed to the Lender, none of the Collateral consisting of an interest in a partnership or a limited liability company (i) is dealt in or traded on a securities exchange or in a securities market,
(ii) by its terms expressly provides that it is a Security governed by Article 8 of the UCC, (iii) is an Investment Company Security, (iv) is held in a Securities Account or (v) constitutes a Security or a Financial Asset. 

(i) [Reserved]. 

(j) Consents; Etc. No approval, consent, exemption, authorization or other action by, notice to, or filing with, any
Governmental Authority or any stockholder, is necessary or required for (i) the grant by such Grantor of the security interest in the Collateral granted hereby (to the extent that such interest may be granted under the UCC) or for the
execution, delivery or performance of this Agreement by such Grantor, (ii) the perfection of such security interest (to the extent such security interest can be perfected by filing under the UCC, the granting of control (to the extent required
under Section 4(c) hereof) or by filing an appropriate notice with the USPTO or the United States Copyright Office) or (iii) subject to applicable law, the exercise by the Lender or the Secured Parties of the rights and remedies
provided for in this Agreement (including, without limitation, as against any Issuer), except for (A) the filing or recording of UCC financing statements or other filings under the Assignment of Claims Act, (B) the filing of appropriate
notices with the USPTO and the United States Copyright Office, (C) obtaining control to perfect the Liens created by this Agreement (to the extent required under Section 4(c) hereof), (D) such actions as may be required by Laws affecting
the offering and sale of securities, (E) such actions as may be required by applicable foreign Laws affecting the pledge of the Pledged Equity of Foreign Subsidiaries, (F) consents, authorizations, filings or other actions which have been
obtained or made, (G) as may be required with respect to Vehicles registered under a certificate of title and (H) as may be required under the Federal Assignment of Claims Act. 

  
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 (k) Commercial Tort Claims. As of the Closing Date, no Grantor has
any Commercial Tort Claims seeking damages in excess of $20,000 other than as set forth on Schedule 5.20(e) to the A&R Credit Agreement (as updated from time to time in accordance with the A&R Credit
Agreement). 
 (l) Copyrights, Patents and Trademarks. 

(i) Except as could not reasonably be expected to have a Material Adverse Effect, to the knowledge of the Grantor all
Intellectual Property of such Grantor is valid, subsisting, unexpired, enforceable and has not been abandoned. 
 (ii) No
holding, decision or judgment has been rendered by any Governmental Authority that would limit, cancel or question the validity of any Intellectual Property of any Grantor that could reasonably be expected to result in a Material Adverse Effect.

 (iii) All applications pertaining to the Copyrights, Patents and Trademarks of each Grantor have been duly and properly
filed, and all registrations or letters pertaining to such Copyrights, Patents and Trademarks have been duly and properly filed and issued, except to the extent that any failure to do so could not reasonably be expected to result in a Material
Adverse Effect. 
 (iv) [Reserved]. 

(v) Except as could not reasonably be expected to have a Material Adverse Effect, each Grantor and each of its Subsidiaries,
own, or possess the right to use, all of the Intellectual Property that is reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person. 

(vi) Except as could not reasonably be expected to have a Material Adverse Effect, no slogan or other advertising device,
product, process, method, substance, part or other material now employed, or now contemplated to be employed by any Grantor or any of its Subsidiaries infringes upon any rights held by any other Person. 

(vii) No proceeding, claim or litigation regarding any of the foregoing is pending or, to the best knowledge of such Grantor,
threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 
 4.
Covenants. Each Grantor covenants that until the Facility Termination Date, that such Grantor shall: 

  
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 (a) Maintenance of Perfected Security Interest; Further Information.

 (i) Except as otherwise expressly permitted by this Agreement, maintain the security interest created by this Agreement as
a first priority perfected security interest (subject only to Permitted Liens to the extent permitted to have priority over the Secured Parties’ security interest) and shall defend such security interest against the claims and demands of all
Persons whomsoever (other than the holders of Permitted Liens to the extent permitted to have priority over the Secured Parties’ security interest). 

(ii) From time to time furnish to the Lender upon the Lender’s or any Lender’s reasonable request, statements and
schedules further identifying and describing the assets and property of such Grantor and such other reports in connection therewith as the Lender or such Lender may reasonably request, all in reasonable detail. 

(b) Required Notifications. Each Grantor shall promptly notify the Lender, in writing, of: (i) any Lien (other than
Permitted Liens) on any of the Collateral which would adversely affect the ability of the Lender to exercise any of its remedies hereunder and (ii) the occurrence of any other event which could reasonably be expected to have a material
impairment on the aggregate value of the Collateral or on the security interests created hereby. 
 (c) Perfection
through Possession and Control. 
 (i) If any amount in excess of $50,000 payable under or in connection with any of the
Collateral shall be or become evidenced by any Instrument or Tangible Chattel Paper or Supporting Obligation, or if any property constituting Collateral shall be stored or shipped subject to a Document, ensure that such Instrument, Tangible Chattel
Paper, Supporting Obligation or Document is either in the possession of such Grantor at all times or, if requested by the Lender to perfect its security interest in such Collateral, is delivered to the Lender duly endorsed in a manner satisfactory
to the Lender. Such Grantor shall ensure that any Collateral consisting of Tangible Chattel Paper is marked with a legend acceptable to the Lender indicating the Lender’s security interest in such Tangible Chattel Paper. 

(ii) Deliver to the Lender promptly upon the receipt thereof by or on behalf of a Grantor, all certificates and instruments
constituting Certificated Securities (other than in respect of any Equity Interests of Subsidiaries not constituting Pledged Equity) or Pledged Equity. Prior to delivery to the Lender, all such certificates constituting Pledged Equity shall be held
in trust by such Grantor for the benefit of the Lender pursuant hereto. All such certificates representing Pledged Equity shall be delivered in suitable form for transfer by delivery or shall be accompanied by duly executed instruments of transfer
or assignment in blank, substantially in the form provided in Exhibit A hereto or other form acceptable to the Lender. 

  
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 (iii) Subject to Section 6.14 of the A&R Credit Agreement, if any
Collateral shall consist of Deposit Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, Securities Accounts or uncertificated Investment Property, execute and
deliver (and, with respect to any Collateral consisting of a Securities Account or uncertificated Investment Property, cause the Securities Intermediary or the Issuer, as applicable, with respect to such Investment Property to execute and deliver)
to the Lender all control agreements, assignments, instruments or other documents as reasonably requested by the Lender for the purposes of obtaining and maintaining Control of such Collateral. If any Collateral shall consist of Deposit Accounts or
Securities Accounts, comply with all applicable requirements of Section 6.14 of the A&R Credit Agreement. 
 (d)
Filing of Financing Statements, Notices, etc. Each Grantor shall execute and deliver to the Lender and/or file such agreements, assignments or instruments (including affidavits, notices, reaffirmations and amendments and restatements of
existing documents, as the Lender may reasonably request) and do all such other things as the Lender may reasonably deem necessary or appropriate (i) to assure to the Lender its security interests hereunder, including (A) such instruments
as the Lender may from time to time reasonably request in order to perfect and maintain the security interests granted hereunder in accordance with the UCC, including, without limitation, financing statements (including continuation statements),
(B) with regard to Copyrights, a Notice of Grant of Security Interest in Copyrights substantially in the form of Exhibit B or other form acceptable to the Lender, (C) with regard to Patents, a Notice of Grant of
Security Interest in Patents for filing with the USPTO substantially in the form of Exhibit C or other form acceptable to the Lender and (D) with regard to Trademarks, a Notice of Grant of Security Interest in
Trademarks for filing with the USPTO substantially in the form of Exhibit D or other form acceptable to the Lender, (ii) to consummate the transactions contemplated hereby and (iii) to otherwise protect and assure
the Lender of its rights and interests hereunder. Furthermore, each Grantor also hereby irrevocably makes, constitutes and appoints the Lender, its nominee or any other person whom the Lender may designate, as such Grantor’s attorney in fact
with full power and for the limited purpose to prepare and file (and, to the extent applicable, sign) in the name of such Grantor any financing statements, or amendments and supplements to financing statements, renewal financing statements, notices
or any similar documents which in the Lender’s reasonable discretion would be necessary or appropriate in order to perfect and maintain perfection of the security interests granted hereunder, such power, being coupled with an interest, being
and remaining irrevocable until the Facility Termination Date. Each Grantor hereby agrees that a carbon, photographic or other reproduction of this Agreement or any such financing statement is sufficient for filing as a financing statement by the
Lender without notice thereof to such Grantor wherever the Lender may in its sole discretion desire to file the same. 
 (e)
[Reserved.] 

  
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 (f) Treatment of Accounts. If an Event of Default shall have occurred
and be continuing, not grant or extend the time for payment of any Account, or compromise or settle any Account for less than the full amount thereof, or release any person or property, in whole or in part, from payment thereof, or amend, supplement
or modify any Account in any manner that could reasonably be likely to adversely affect the value thereof, or allow any credit or discount thereon, other than as normal and customary in the ordinary course of a Grantor’s business. After an
Event of Default has occurred and is continuing or upon request of the Lender, each Grantor will deliver to the Lender a copy of each material demand, notice or document received by it that questions or calls into doubt the validity or
enforceability of any Account. 
 (g) Commercial Tort Claims. Execute and deliver such statements, documents and
notices and do and cause to be done all such things as may be required by the Lender, or required by Law to create, preserve, perfect and maintain the Lender’s security interest in any Commercial Tort Claims initiated by or in favor of any
Grantor. 
 (h) Inventory. With respect to the Inventory of each Grantor: 

(i) At all times maintain inventory records reasonably satisfactory to the Lender, keeping correct and accurate records (in all
material respects) itemizing and describing the kind, type, quality and quantity of Inventory and such Grantor’s cost therefor. 

(ii) Produce, use, store and maintain the Inventory with all reasonable care and caution and in accordance with applicable
standards of any insurance and in conformity with applicable Laws (including the requirements of the Federal Fair Labor Standards Act of 1938, as amended and all rules, regulations and orders related thereto). 

(i) Books and Records. Mark its books and records (and shall cause the Issuer of the Pledged Equity of such Grantor to
mark its books and records) to reflect the security interest granted pursuant to this Agreement. 
 (j) Nature of
Collateral. At all times maintain the Collateral as personal property and not affix any of the Collateral to any real property in a manner which would change its nature from personal property to real property or a Fixture to real property,
unless the Lender shall have a perfected Lien on such Fixture or real property. 
 (k) Issuance or Acquisition of Equity
Interests in Partnerships or Limited Liability Companies. 
 (i) Not without executing and delivering, or causing to be
executed and delivered, to the Lender such agreements, documents and instruments as the Lender may reasonably require, issue or acquire any Pledged Equity consisting of an interest in a partnership or a limited liability company that (A) is
dealt in or traded on a securities exchange or in a securities market, (B) by its terms expressly provides that it is a Security governed by Article 8 of the UCC, (C) is an investment company security, (D) is held in a Securities
Account or (E) constitutes a Security or a Financial Asset. 

  
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 (ii) Without the prior written consent of the Lender, no Grantor will
(A) vote to enable, or take any other action to permit, any applicable Issuer to issue any Investment Property or Equity Interests constituting partnership or limited liability company interests, except for those additional Investment Property
or Equity Interests constituting partnership or limited liability company interests that will be subject to the security interest granted herein in favor of the Secured Parties, or (B) enter into any agreement or undertaking, except in
connection with a Disposition permitted under Section 7.05 of the A&R Credit Agreement, restricting the right or ability of such Grantor or the Lender to sell, assign or transfer any Investment Property or Pledged Equity or Proceeds
thereof. The Grantors will defend the right, title and interest of the Lender in and to any Investment Property and Pledged Equity against the claims and demands of all Persons whomsoever. 

(iii) If any Grantor shall become entitled to receive or shall receive (A) any Certificated Securities (including, without
limitation, any certificate representing a stock dividend or a distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection with any reorganization), option or rights in respect of
the ownership interests of any Issuer, whether in addition to, in substitution of, as a conversion of, or in exchange for, any Investment Property (other than in respect of Equity Interests that are Excluded Property), or otherwise in respect
thereof, or (B) any sums paid upon or in respect of any Investment Property upon the liquidation or dissolution of any Issuer, such Grantor shall accept the same as the agent of the Secured Parties, hold the same in trust for the Secured
Parties, segregated from other funds of such Grantor, and promptly deliver the same to the Lender, on behalf of the Secured Parties, in accordance with the terms hereof. 

(l) Intellectual Property. 

(i) Not do any act or omit to do any act whereby any material Copyright may become invalidated and (A) not do any act, or
omit to do any act, whereby any material Copyright may become injected into the public domain; (B) take all necessary steps as it shall deem appropriate under the circumstances, to maintain and pursue each application (and to obtain the
relevant registration) of each material Copyright owned by a Grantor and to maintain each registration of each material Copyright owned by a Grantor including, without limitation, filing of applications for renewal where necessary; and (C) take
such actions as it shall deem appropriate in its business judgment under the circumstances to protect such Copyright, including, where such Grantor deems appropriate, the bringing of suit for infringement, dilution or impairment or seeking
injunctive relief and seeking to recover any and all damages for such infringement, misappropriation, dilution or impairment. 

  
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 (ii) Not make any assignment or agreement in conflict with the security
interest granted to the Lender in the Copyrights of each Grantor except as permitted by the A&R Credit Agreement. 

(iii) (A) Continue to employ each material Trademark with the appropriate notice of registration, if applicable and
(B) not (and not permit any licensee or sublicensee thereof to) do any act or omit to do any act whereby any material Trademark may become invalidated. 

(iv) Not do any act, or omit to do any act, whereby any material Patent may become abandoned or dedicated. 

(v) [Reserved.] 

(vi) Take all reasonable and necessary steps, including, without limitation, in any proceeding before the USPTO, or any similar
office or agency in any other country or any political subdivision thereof, to maintain and pursue each application (and to obtain the relevant registration) and to maintain each registration of each material Patent and Trademark, including, without
limitation, filing of applications for renewal, affidavits of use and affidavits of incontestability. 
 (vii) Promptly sue
for infringement, misappropriation, dilution or impairment, to seek injunctive relief where appropriate and to recover any and all damages for any infringement, misappropriation, dilution or impairment of any material Patent or Trademark, or to take
such other actions, in each case if and as it shall reasonably deem appropriate under the circumstances to protect such Patent or Trademark. 

(viii) Not make any assignment or agreement in conflict with the security interest granted to the Lender in the Patents or
Trademarks of each Grantor except as permitted by the A&R Credit Agreement. 
 (ix) Grants to the Lender a royalty-free
license to use such Grantor’s Intellectual Property in connection with the enforcement of the Lender’s rights hereunder, but only to the extent any license or agreement granting such Grantor rights in such Intellectual Property do not
prohibit such use by the Lender. 
 Notwithstanding the foregoing, the Grantors may, in their business judgment, abandon or
fail to maintain, pursue, preserve, protect or employ any Copyright, Patent or Trademark which they deem in their commercially reasonable judgment not to be material to their businesses. 

  
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 (m) Equipment. Maintain each item of Equipment in good working order
and condition (reasonable wear and tear and obsolescence excepted). 
 (n) Government Contracts. Promptly notify the
Lender, in writing, if it is a party to or enters into any Governmental Contract under or as a result of which any Governmental Authority or Authorities, as account debtors, owe monetary obligations greater than $500,000 in the aggregate to any
Grantor under any Accounts. 
 (o) Vehicles. Upon the request of the Lender upon the occurrence and during the
continuance of an Event of Default, file or cause to be filed in each office in each jurisdiction which the Lender shall deem reasonably advisable to perfect its Liens on the Vehicles, all applications for certificates of title or ownership (and any
other necessary documentation) indicating the Lender’s first priority Lien on the Vehicle (subject to any Permitted Liens) covered by such certificate. 

(p) Internet Property Rights. With respect to its rights, titles and interests in and to any internet domain names or
registration rights relating thereto, and any internet websites or the content thereof (collectively, “Internet Property Rights”) whether now existing or hereafter created or acquired and wheresoever located, each Grantor shall
after an Event of Default has occurred and is continuing or upon the reasonable request of the Lender, cause to be delivered to the Lender an undated transfer document with respect to each of its internet domain names, duly executed in blank by such
Grantor and in the form required by the applicable internet domain name registrar, sufficient to effect the transfer of each internet domain name to the transferee thereof named in such transfer form upon delivery to such registrar. 

(q) Further Assurances. Subject to the foregoing provisions of this Section 4: 

(i) Promptly upon the request of the Lender and at the sole expense of the Grantors, duly execute and deliver, and have
recorded, such further instruments and documents and take such further actions as the Lender may reasonably request for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted,
including, without limitation, (A) with respect to Government Contracts, assignment agreements and notices of assignment, in form and substance satisfactory to the Lender, duly executed by any Grantors party to such Government Contract in
compliance with the Assignment of Claims Act (or analogous state applicable Law), and (B) all applications, certificates, instruments, registration statements, and all other documents and papers the Lender may reasonably request and as may be
required by law in connection with the obtaining of any consent, approval, registration, qualification, or authorization of any Person deemed necessary or appropriate for the effective exercise of any rights under this Agreement; provided
that no Grantor shall be required to take any action to perfect a security interest in any Collateral as to which the Lender reasonably determines that the costs and burdens to the Grantors of perfecting a security interest in such Collateral
(including any applicable stamp, intangibles or other taxes) are excessive in relation to value to the Lender afforded thereby. 

  
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 (ii) From time to time upon the Lender’s reasonable request, promptly
furnish such updates to the information disclosed pursuant to this Agreement and the A&R Credit Agreement, including any Schedules hereto or thereto, such that such updated information is true and correct as of the date so furnished. 

(iii) Unless an Event of Default shall have occurred and be continuing, the Grantors shall not be required to obtain a landlord
waiver, collateral access agreement or similar waiver or agreement with respect to any location of a Grantor where any personal property Collateral is located. 

5. Authorization to File Financing Statements. Each Grantor hereby authorizes the Lender to prepare and file such financing statements
(including continuation statements) or amendments thereof or supplements thereto or other instruments as the Lender may from time to time deem necessary or appropriate in order to perfect and maintain the security interests granted hereunder in
accordance with the UCC, which such financing statements may describe the Collateral in the same manner as described herein or may contain an indication or description of Collateral that describes such property in any other manner as the Lender may
determine, in its sole discretion, is necessary, advisable or prudent to ensure the perfection of the security interest in the Collateral granted herein, including, without limitation, describing such property as “all assets, whether now owned
or hereafter acquired” or “all personal property, whether now owned or hereafter acquired.” 
 6. Advances. On failure
of any Grantor to perform any of the covenants and agreements contained herein or in any other Loan Document, the Lender may, at its sole option and in its sole discretion, perform the same and in so doing may expend such sums as the Lender may
reasonably deem advisable in the performance thereof, including, without limitation, the payment of any insurance premiums, the payment of any taxes, a payment to obtain a release of a Lien or potential Lien, expenditures made in defending against
any adverse claim and all other expenditures which the Lender may make for the protection of the security hereof or which may be compelled to make by operation of Law. All such sums and amounts so expended shall be repayable by the Grantors on a
joint and several basis promptly upon timely notice thereof and demand therefor, shall constitute additional Secured Obligations and shall bear interest from the date said amounts are expended at the Default Rate. No such performance of any covenant
or agreement by the Lender on behalf of any Grantor, and no such advance or expenditure therefor, shall relieve the Grantors of any Default or Event of Default. The Lender may make any payment hereby authorized in accordance with any bill, statement
or estimate procured from the appropriate public office or holder of the claim to be discharged without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax assessment, sale, forfeiture, tax lien, title or
claim except to the extent such payment is being contested in good faith by a Grantor in appropriate proceedings and against which adequate reserves are being maintained in accordance with GAAP. 

7. Remedies. 

  
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 (a) General Remedies. Upon the occurrence of an Event of Default and
during continuation thereof, the Lender on behalf of the Secured Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by any applicable Law
(including, but not limited to, levy of attachment, garnishment and the rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of
whether the UCC is the law of the jurisdiction where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral), and further, the Lender may, with or without judicial process or the aid and assistance
of others, (i) enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises,
(iii) require the Grantors to assemble and make available to the Lender at the expense of the Grantors any Collateral at any place and time designated by the Lender which is reasonably convenient to both parties, (iv) remove any Collateral
from any such premises for the purpose of effecting sale or other disposition thereof, (v) without demand and without advertisement, notice, hearing or process of law, all of which each of the Grantors hereby waives to the fullest extent
permitted by Law, at any place and time or times, sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or
all Collateral held by or for it at public or private sale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their
own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for money, upon credit or otherwise, at such prices and
upon such terms as the Lender deems advisable, in its sole discretion (subject to any and all mandatory legal requirements) and/or (vi) complete and tender each internet domain name transfer document in its own name, place and stead of the
Grantor in order to effect the transfer of any internet domain name registration, either to the Lender or to another transferee, as the case may be and maintain, obtain access to, and continue to operate, in its own name or in the name, place and
stead of such Grantor, such Grantor’s internet website and the contents thereof, and all related advertising, linking and technology licensing and other contractual relationships, in each case in connection with the maintenance, preservation,
operation, sale or other disposition of the Collateral or for any other purpose permitted under the Loan Documents or by applicable Law. Each Grantor acknowledges that any such private sale may be at prices and on terms less favorable to the seller
than the prices and other terms which might have been obtained at a public sale and, notwithstanding the foregoing, agrees that such private sale shall be deemed to have been made in a commercially reasonable manner and, in the case of a sale of
Pledged Equity, that the Lender shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The
Lender shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Lender’s compliance
with applicable Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. 

  
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To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice, specifying the place of any
public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 10.02 of the A&R Credit Agreement at least ten
(10) days before the time of sale or other event giving rise to the requirement of such notice. Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide
basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made
privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Lender may, in such
event, bid for the purchase of such securities. The Lender shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable Law, any Secured Party may be a
purchaser at any such sale. To the extent permitted by applicable Law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable Law, the Lender may postpone or cause
the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by Law, be made at the time and place to which the sale was
postponed, or the Lender may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Lender or any Secured
Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Lender or any other Secured Party as determined by a
final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable
disposition (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC. 

(b) Remedies Relating to Accounts. 

(i) During the continuation of an Event of Default, whether or not the Lender has exercised any or all of its rights and
remedies hereunder, (A) each Grantor shall, at the request of the Lender, notify (such notice to be in form and substance satisfactory to the Lender) its Account Debtors subject to a security interest hereunder that such Accounts have been
assigned to the Lender, for the benefit of the Secured Parties and promptly upon request of the Lender, instruct all account debtors to remit all payments in respect of Accounts to a mailing location selected by the Lender and (B) the Lender
shall have the right to enforce any Grantor’s rights against its customers and account debtors, and the Lender or its designee may notify any Grantor’s customers and account debtors that the Accounts

  
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of such Grantor have been assigned to the Lender or of the Lender’s security interest therein, and may (either in its own name or in the name of a Grantor or both) demand, collect (including
without limitation by way of a lockbox arrangement), receive, take receipt for, sell, sue for, compound, settle, compromise and give acquittance for any and all amounts due or to become due on any Account, and, in the Lender’s discretion, file
any claim or take any other action or proceeding to protect and realize upon the security interest of the Secured Parties in the Accounts. 

(ii)Each Grantor acknowledges and agrees that the Proceeds of its Accounts remitted to or on behalf of the Lender in accordance
with the provisions hereof shall be solely for the Lender’s own convenience and that such Grantor shall not have any right, title or interest in such Accounts or in any such other amounts except as expressly provided herein. Neither the Lender
nor the Secured Parties shall have any liability or responsibility to any Grantor for acceptance of a check, draft or other order for payment of money bearing the legend “payment in full” or words of similar import or any other restrictive
legend or endorsement or be responsible for determining the correctness of any remittance. 
 (iii)During the continuation of
an Event of Default, (A) the Lender shall have the right, but not the obligation, to make test verifications of the Accounts in any manner and through any medium that it reasonably considers advisable, and the Grantors shall furnish all such
assistance and information as the Lender may require in connection with such test verifications, (B) upon the Lender’s request and at the expense of the Grantors, the Grantors shall cause independent public accountants or others
satisfactory to the Lender to furnish to the Lender reports showing reconciliations, aging and test verifications of, and trial balances for, the Accounts and (C) the Lender in its own name or in the name of others may communicate with account
debtors on the Accounts to verify with them to the Lender’s satisfaction the existence, amount and terms of any Accounts. 

(iv) During the continuation of an Event of Default, upon the request of the Lender, each Grantor shall forward to the Lender,
on the last Business Day of each week, deposit slips related to all cash, money, checks or any other similar items of payment received by the Grantor during such week, and, if requested by the Lender, copies of such checks or any other similar items
of payment, together with a statement showing the application of all payments on the Collateral during such week and a collection report with regard thereto, in form and substance satisfactory to the Lender. 

(c) Deposit Accounts/Securities Accounts. Upon the occurrence of an Event of Default and during continuation thereof,
the Lender may prevent withdrawals or other dispositions of funds in Deposit Accounts and Securities Accounts subject to control agreements or held with any Secured Party. 

(d) Investment Property/Pledged Equity. Upon the occurrence of an Event of Default and during the continuation thereof:
the Lender shall have the right to receive any 

  
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and all cash dividends, payments or distributions made in respect of any Investment Property or Pledged Equity or other Proceeds paid in respect of any Investment Property or Pledged Equity, and
any or all of any Investment Property or Pledged Equity may, at the option of the Lender, be registered in the name of the Lender or its nominee, and the Lender or its nominee may, during the continuation of an Event of Default, exercise
(i) all voting, corporate and other rights pertaining to such Investment Property, or any such Pledged Equity at any meeting of shareholders, partners or members of the relevant Issuers or otherwise and (ii) any and all rights of
conversion, exchange and subscription and any other rights, privileges or options pertaining to such Investment Property or Pledged Equity as if it were the absolute owner thereof (including, without limitation, the right to exchange at its
discretion any and all of the Investment Property or Pledged Equity upon the merger, consolidation, reorganization, recapitalization or other fundamental change in the corporate, partnership or limited liability company structure of any Issuer or
upon the exercise by any Grantor or the Lender of any right, privilege or option pertaining to such Investment Property or Pledged Equity, and in connection therewith, the right to deposit and deliver any and all of the Investment Property or
Pledged Equity with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as the Lender may determine), all without liability except to account for property actually received by it; but the
Lender shall have no duty to any Grantor to exercise any such right, privilege or option and the Lender and the other Secured Parties shall not be responsible for any failure to do so or delay in so doing. In furtherance thereof, each Grantor hereby
authorizes and instructs each Issuer with respect to any Collateral consisting of Investment Property and/or Pledged Equity to (A) comply with any instruction received by it from the Lender in writing that (1) states that an Event of
Default has occurred and is continuing and (2) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from such Grantor, and each Grantor agrees that each Issuer shall be fully protected in so
complying following receipt of such notice and prior to notice that such Event of Default is no longer continuing, and (B) during the continuation of an Event of Default, pay any dividends, distributions or other payments with respect to any
Investment Property or Pledged Equity directly to the Lender. Unless an Event of Default shall have occurred and be continuing, each Grantor shall be permitted to receive all cash dividends, payments or other distributions made in respect of
any Investment Property and any Pledged Equity, to the extent permitted in the A&R Credit Agreement, and to exercise all voting and other corporate, company and partnership rights with respect to any Investment Property and Pledged Equity to the
extent not inconsistent with the terms of this Agreement and the other Loan Documents. 
 (e) Material Contractual
Obligations. Upon the occurrence of an Event of Default and during the continuation thereof, the Lender shall be entitled to (but shall not be required to): (i) proceed to perform any and all obligations of the applicable Grantor under any
material Contractual Obligation and exercise all rights of such Grantor thereunder as fully as such Grantor itself could, (ii) do all other acts which the Lender may deem necessary or proper to protect its security interest granted hereunder,
provided such acts are not inconsistent with or in violation of the terms of any of the A&R Credit Agreement, of the other Loan Documents or applicable Law, and (iii) sell, assign or otherwise transfer any material Contractual
Obligation in accordance with the A&R Credit Agreement, the other Loan Documents and applicable Law, subject, however, to the prior approval of each other party to such material Contractual Obligation, to the extent required under such material
Contractual Obligation. 

  
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 (f) Access. In addition to the rights and remedies hereunder, upon
the occurrence of an Event of Default and during the continuance thereof, the Lender shall have the right to enter and remain upon the various premises of the Grantors without cost or charge to the Lender, and use the same, together with materials,
supplies, books and records of the Grantors for the purpose of collecting and liquidating the Collateral, or for preparing for sale and conducting the sale of the Collateral, whether by foreclosure, auction or otherwise. In addition, the Lender may
remove Collateral, or any part thereof, from such premises and/or any records with respect thereto, in order to effectively collect or liquidate such Collateral. If the Lender exercises its right to take possession of the Collateral, each Grantor
shall also at its expense perform any and all other steps reasonably requested by the Lender to preserve and protect the security interest hereby granted in the Collateral, such as placing and maintaining signs indicating the security interest of
the Lender, appointing overseers for the Collateral and maintaining inventory records. 
 (g) Nonexclusive Nature of
Remedies. Failure by the Lender or the Secured Parties to exercise any right, remedy or option under this Agreement, any other Loan Document, any other document relating to the Secured Obligations, or as provided by Law, or any delay by the
Lender or the Secured Parties in exercising the same, shall not operate as a waiver of any such right, remedy or option. No waiver hereunder shall be effective unless it is in writing, signed by the party against whom such waiver is sought to be
enforced and then only to the extent specifically stated, which in the case of the Lender or the Secured Parties shall only be granted as provided herein. To the extent permitted by Law, neither the Lender, the Secured Parties, nor any party acting
as attorney for the Lender or the Secured Parties, shall be liable hereunder for any acts or omissions or for any error of judgment or mistake of fact or law other than their gross negligence or willful misconduct hereunder as determined by a final non-appealable judgment of a court of competent jurisdiction. The rights and remedies of the Lender and the Secured Parties under this Agreement shall be cumulative and not exclusive of any other right or remedy
which the Lender or the Secured Parties may have. 
 (h) Retention of Collateral. In addition to the rights and
remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the
relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have complied with such requirements, however, the Lender shall not be deemed to have retained any Collateral in
satisfaction of any Secured Obligations for any reason. 
 (i) Waiver; Deficiency. Each Grantor hereby waives, to the
extent permitted by applicable Laws, all rights of redemption, appraisement, valuation, stay, extension or moratorium now or hereafter in force under any applicable Laws in order to prevent or delay the enforcement of this Agreement or the absolute
sale of the Collateral or any portion thereof. In the event that the proceeds of any sale, collection or realization are insufficient to 

  
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pay all amounts to which the Lender or the Secured Parties are legally entitled, the Grantors shall be jointly and severally liable for the deficiency, together with interest thereon at the
Default Rate, together with the costs of collection and the fees, charges and disbursements of counsel. Any surplus remaining after the full payment and satisfaction of the Secured Obligations shall be returned to the Grantors or to whomsoever a
court of competent jurisdiction shall determine to be entitled thereto. 
 (j) Registration Rights. 

(i) If the Lender shall determine that in order to exercise its right to sell any or all of the Collateral it is necessary or
advisable to have such Collateral registered under the provisions of the Securities Act (any such Collateral, the “Restricted Securities Collateral”), the relevant Grantor will cause each applicable Issuer (and the officers and
directors thereof) that is a Grantor or a Subsidiary of a Grantor to (A) execute and deliver all such instruments and documents, and do or cause to be done all such other acts as may be, in the reasonable opinion of the Lender, necessary or
advisable to register such Restricted Securities Collateral, or that portion thereof to be sold, under the provisions of the Securities Act, (B) use its commercially reasonable efforts to cause the registration statement relating thereto to
become effective and to remain effective for a period of one year from the date of the first public offering of such Restricted Securities Collateral, or that portion thereof to be sold, and (C) make all amendments thereto and/or to the related
prospectus which, in the opinion of the Lender, are necessary or advisable, all in conformity with the requirements of the Securities Act and the rules and regulations of the Securities and Exchange Commission applicable thereto. Each Grantor agrees
to cause each applicable Issuer (and the officers and directors thereof) to comply with the provisions of the securities or “Blue Sky” laws of any and all jurisdictions which the Lender shall designate and to make available to its security
holders, as soon as practicable, an earnings statement (which need not be audited) which will satisfy the provisions of the Securities Act. 

(ii) Each Grantor agrees to use its commercially reasonable efforts to do or cause to be done all such other acts as may be
necessary to make such sale or sales of all or any portion of the Restricted Securities Collateral valid and binding and in compliance with any and all other applicable Laws. Each Grantor further agrees that a breach of any of the covenants
contained in this Section 7 will cause irreparable injury to the Lender and the other Secured Parties, that the Lender 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 7 shall be specifically enforceable against such Grantor, and such Grantor 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 under the A&R Credit Agreement. 
 8. Rights of the Lender. 

  
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 (a) Power of Attorney. In addition to other powers of attorney
contained herein, each Grantor hereby designates and appoints the Lender, on behalf of the Secured Parties, and each of its designees or agents, as attorney-in-fact of
such Grantor, irrevocably and with power of substitution, with authority to take any or all of the following actions upon the occurrence and during the continuance of an Event of Default: 

(i) to demand, collect, settle, compromise, adjust, give discharges and releases, all as the Lender may reasonably determine;

 (ii) to commence and prosecute any actions at any court for the purposes of collecting any Collateral and enforcing any
other right in respect thereof; 
 (iii) to defend, settle or compromise any action brought and, in connection therewith,
give such discharge or release as the Lender may deem reasonably appropriate; 
 (iv) to receive, open and dispose of mail
addressed to a Grantor and endorse checks, notes, drafts, acceptances, money orders, bills of lading, warehouse receipts or other instruments or documents evidencing payment, shipment or storage of the goods giving rise to the Collateral of such
Grantor on behalf of and in the name of such Grantor, or securing, or relating to such Collateral; 
 (v) to sell, assign,
transfer, make any agreement in respect of, or otherwise deal with or exercise rights in respect of, any Collateral or the goods or services which have given rise thereto, as fully and completely as though the Lender were the absolute owner thereof
for all purposes; 
 (vi) to adjust and settle claims under any insurance policy relating thereto; 

(vii) to execute and deliver all assignments, conveyances, statements, financing statements, continuation financing statements,
security agreements, affidavits, notices and other agreements, instruments and documents that the Lender may determine necessary in order to perfect and maintain the security interests and liens granted in this Agreement and in order to fully
consummate all of the transactions contemplated herein; 
 (viii) to institute any foreclosure proceedings that the Lender
may deem appropriate; 
 (ix) to sign and endorse any drafts, assignments, proxies, stock powers, verifications, notices and
other documents relating to the Collateral; 
 (x) to exchange any of the Pledged Equity or other property upon any merger,
consolidation, reorganization, recapitalization or other readjustment of the Issuer thereof and, in connection therewith, deposit any of the Pledged Equity with any committee, depository, transfer agent, registrar or other designated agency upon
such terms as the Lender may reasonably deem appropriate; 

  
 -23- 

 (xi) to vote for a shareholder resolution, or to sign an instrument in
writing, sanctioning the transfer of any or all of the Pledged Equity into the name of the Lender or one or more of the Secured Parties or into the name of any transferee to whom the Pledged Equity or any part thereof may be sold pursuant to
Section 7 hereof; 
 (xii) to pay or discharge taxes, liens, security interests or other encumbrances levied or placed
on or threatened against the Collateral; 
 (xiii) to direct any parties liable for any payment in connection with any of the
Collateral to make payment of any and all monies due and to become due thereunder directly to the Lender or as the Lender shall direct; 

(xiv) to receive payment of and receipt for any and all monies, claims, and other amounts due and to become due at any time in
respect of or arising out of any Collateral; 
 (xv) in the case of any Intellectual Property, execute and deliver, and have
recorded, any and all agreements, instruments, documents and papers as the Lender may request to evidence the security interests created hereby in such Intellectual Property and the goodwill and General Intangibles of such Grantor relating thereto
or represented thereby; and 
 (xvi) do and perform all such other acts and things as the Lender may reasonably deem to be
necessary, proper or convenient in connection with the Collateral. 
 This power of attorney is a power coupled with an interest and shall be irrevocable
until the Facility Termination Date. The Lender shall be under no duty to exercise or withhold the exercise of any of the rights, powers, privileges and options expressly or implicitly granted to the Lender in this Agreement, and shall not be liable
for any failure to do so or any delay in doing so. The Lender shall not be liable for any act or omission or for any error of judgment or any mistake of fact or law in its individual capacity or its capacity as attorney-in-fact except acts or omissions resulting from its gross negligence or willful misconduct as determined by a final non-appealable judgment of a court of
competent jurisdiction. This power of attorney is conferred on the Lender solely to protect, preserve and realize upon its security interest in the Collateral and shall not impose any duty upon the Lender or any other Secured Party to exercise any
such powers. 
 (b) Assignment by the Lender. The Lender may from time to time assign the Secured Obligations to a successor Lender
appointed in accordance with the A&R Credit Agreement, and such successor shall be entitled to all of the rights and remedies of the Lender under this Agreement in relation thereto. 

  
 -24- 

 (c) The Lender’s Duty of Care. Other than the exercise of reasonable care to
assure the safe custody of the Collateral while being held by the Lender hereunder, the Lender shall have no duty or liability to preserve rights pertaining thereto, it being understood and agreed that the Grantors shall be responsible for
preservation of all rights in the Collateral, and the Lender shall be relieved of all responsibility for the Collateral upon surrendering it or tendering the surrender of it to the Grantors. The Lender shall be deemed to have exercised reasonable
care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which the Lender accords its own property, which shall be no less than the treatment employed by a
reasonable and prudent agent in the industry, it being understood that the Lender shall not have responsibility for taking any necessary steps to preserve rights against any parties with respect to any of the Collateral. In the event of a public or
private sale of Collateral pursuant to Section 7 hereof, the Lender shall have no responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any
Collateral, whether or not the Lender has or is deemed to have knowledge of such matters, or (ii) taking any steps to clean, repair or otherwise prepare the Collateral for sale. 

(d) Liability with Respect to Accounts. Anything herein to the contrary notwithstanding, each of the Grantors shall remain liable under
each of the Accounts to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to each such Account. Neither the Lender nor any Secured
Party shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Lender or any Secured Party of any payment relating to such Account pursuant
hereto, nor shall the Lender or any Secured Party be obligated in any manner to perform any of the obligations of a Grantor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party under any Account (or any agreement giving rise thereto), to present or file any claim, to take any action to enforce any performance or
to collect the payment of any amounts which may have been assigned to it or to which it may be entitled at any time or times. 
 (e)
Releases of Collateral. 
 (i) If any Collateral shall be sold, transferred or otherwise disposed of by any Grantor in
a transaction permitted by the A&R Credit Agreement, then the Lender, at the request and sole expense of such Grantor, shall promptly execute and deliver to such Grantor all releases and other documents, and take such other action, reasonably
necessary for the release of the Liens created hereby or by any other Collateral Document on such Collateral. 
 (ii) The
Lender may release any of the Pledged Equity from this Agreement or may substitute any of the Pledged Equity for other Pledged Equity 

  
 -25- 

 
without altering, varying or diminishing in any way the force, effect, lien, pledge or security interest of this Agreement as to any Pledged Equity not expressly released or substituted, and this
Agreement shall continue as a first priority lien on all Pledged Equity not expressly released or substituted. 
 9. Application of
Proceeds. After the exercise of remedies provided for in Section 8.02 of the A&R Credit Agreement (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be
Cash Collateralized as set forth in Section 8.02 of the A&R Credit Agreement) any payments in respect of the Secured Obligations and any proceeds of the Collateral, when received by the Lender or any Secured Party in cash or Cash
Equivalents will be applied in reduction of the Secured Obligations in the order set forth in the A&R Credit Agreement. 
 10.
Continuing Agreement. 
 (a)This Agreement shall remain in full force and effect until the Facility Termination Date,
at which time this Agreement shall be automatically terminated (other than obligations under this Agreement which expressly survive such termination) and the Lender shall, upon the request and at the expense of the Grantors, forthwith release all of
its liens and security interests hereunder and shall execute and deliver all UCC termination statements and/or other documents reasonably requested by the Grantors evidencing such termination. 

(b)This Agreement shall continue to be effective or be automatically reinstated, as the case may be, if at any time payment, in
whole or in part, of any of the Secured Obligations is rescinded or must otherwise be restored or returned by the Lender or any Secured Party as a preference, fraudulent conveyance or otherwise under any Debtor Relief Law, all as though such payment
had not been made; provided that in the event payment of all or any part of the Secured Obligations is rescinded or must be restored or returned, all reasonable costs and expenses (including without limitation any reasonable legal fees and
disbursements) incurred by the Lender or any Secured Party in defending and enforcing such reinstatement shall be deemed to be included as a part of the Secured Obligations. 

11. Amendments; Waivers; Modifications, etc. This Agreement and the provisions hereof may not be amended, waived, modified, changed,
discharged or terminated except as set forth in Section 10.01 of the A&R Credit Agreement. 
 12. Successors in Interest.
This Agreement shall be binding upon each Grantor, its successors and assigns and shall inure, together with the rights and remedies of the Lender and the Secured Parties hereunder, to the benefit of the Lender and the Secured Parties and their
successors and permitted assigns. 
 13. Notices. All notices required or permitted to be given under this Agreement shall be in
conformance with Section 10.02 of the A&R Credit Agreement; provided that notices and communications to the Grantors shall be directed to the Grantors, at the address of the U.S. Borrower set forth in Section 10.02 of the
A&R Credit Agreement. 

  
 -26- 

 14. Counterparts. This Agreement may be executed in any number of counterparts, each
of which where so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. It shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart.
Delivery of an executed counterpart of a signature page of this Agreement by fax transmission or other electronic mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this
Agreement. Without limiting the foregoing, to the extent a manually executed counterpart is not specifically required to be delivered, upon the request of any party, such fax transmission or electronic mail transmission shall be promptly followed by
such manually executed counterpart. 
 15. Headings. The headings of the sections hereof are provided for convenience only and shall
not in any way affect the meaning or construction of any provision of this Agreement. 
 16. Governing Law; Submission to Jurisdiction;
Venue; WAIVER OF JURY TRIAL. The terms of Sections 10.13 and 10.14 of the A&R Credit Agreement with respect to governing law, submission to jurisdiction, venue and waiver of jury trial are incorporated herein by reference, mutatis
mutandis, and the parties hereto agree to such terms. 
 17. Severability. If any provision of this Agreement is determined to be
illegal, invalid or unenforceable, such provision shall be fully severable and the remaining provisions shall remain in full force and effect and shall be construed without giving effect to the illegal, invalid or unenforceable provisions. 

18. Entirety. This Agreement, the other Loan Documents and the other documents relating to the Secured Obligations represent the entire
agreement of the parties hereto and thereto, and supersede all prior agreements and understandings, oral or written, if any, including any commitment letters or correspondence relating to the Loan Documents, any other documents relating to the
Secured Obligations, or the transactions contemplated herein and therein. 
 19. Other Security. To the extent that any of the
Secured Obligations are now or hereafter secured by property other than the Collateral (including, without limitation, real property and securities owned by a Grantor), or by a guarantee, endorsement or property of any other Person, then the Lender
shall have the right to proceed against such other property, guarantee or endorsement upon the occurrence of any Event of Default, and the Lender shall have the right, in its sole discretion, to determine which rights, security, liens, security
interests or remedies the Lender shall at any time pursue, relinquish, subordinate, modify or take with respect thereto, without in any way modifying or affecting any of them or the Secured Obligations or any of the rights of the Lender or the
Secured Parties under this Agreement, under any other of the Loan Documents or under any other document relating to the Secured Obligations. 

20. Joinder. At any time after the date of this Agreement, one or more additional Persons may become party hereto by executing and
delivering to the Lender a Joinder Agreement in the form of Exhibit B to the A&R Credit Agreement or such other form acceptable to the Lender. Immediately upon such execution and delivery of such Joinder Agreement (and without any further
action), each such additional Person will become a party to this Agreement as an “Grantor” and have all of the rights and obligations of a Grantor hereunder and this Agreement and the schedules hereto shall be deemed amended by such
Joinder Agreement. 

  
 -27- 

 21. Consent of Issuers of Pledged Equity. Any Loan Party that is an Issuer hereby
acknowledges, consents and agrees to the grant of the security interests in such Pledged Equity by the applicable Grantors pursuant to this Agreement, together with all rights accompanying such security interest as provided by this Agreement and
applicable Law, notwithstanding any anti-assignment provisions in any operating agreement, limited partnership agreement or similar organizational or governance documents of such Issuer. 

22. Joint and Several Obligations of Grantors. 

(a) Each of the Grantors is accepting joint and several liability hereunder in consideration of the financial accommodations to
be provided by the Lender under the A&R Credit Agreement, for the mutual benefit, directly and indirectly, of each of the Grantors and in consideration of the undertakings of each of the Grantors to accept joint and several liability for the
obligations of each of them. 
 (b) Each of the Grantors jointly and severally hereby irrevocably and unconditionally
accepts, not merely as a surety but also as a primary obligor, joint and several liability with the other Grantors with respect to the payment and performance of all of the Secured Obligations, it being the intention of the parties hereto that
(i) all the Secured Obligations shall be the joint and several obligations of each of the Grantors without preferences or distinction among them and (ii) a separate action may be brought against each Grantor to enforce this Agreement
whether or not the U.S. Borrower, any other Grantor or any other person or entity is joined as a party. 
 (c)
Notwithstanding any provision to the contrary contained herein, in any other of the Loan Documents, to the extent the obligations of a Grantor shall be adjudicated to be invalid or unenforceable for any reason (including, without limitation, because
of any applicable state or federal law relating to fraudulent conveyances or transfers) then the obligations of such Grantor hereunder shall be limited to the maximum amount that is permissible under applicable law (whether federal or state and
including, without limitation, Debtor Relief Laws). 
 23. Marshaling. The Lender shall not be required to marshal any present or
future collateral security (including but not limited to the Collateral) for, or other assurances of payment of, the Secured Obligations or any of them or to resort to such collateral security or other assurances of payment in any particular order,
and all of its rights and remedies hereunder and in respect of such collateral security and other assurances of payment shall be cumulative and in addition to all other rights and remedies, however existing or arising. To the extent that it lawfully
may, each Grantor hereby agrees that it will not invoke any law relating to the marshaling of collateral which might cause delay in or impede the enforcement of the Lender’s rights and remedies under this Agreement or under any other instrument
creating or evidencing any of the Secured Obligations or under which any of the Secured Obligations is outstanding or by which any of the Secured Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully
may, each Grantor hereby irrevocably waives the benefits of all such laws. 

  
 -28- 

 24. Injunctive Relief. 

(a) Each Grantor recognizes that, in the event such Grantor fails to perform, observe or discharge any of its obligations or
liabilities under this Agreement or any other Loan Document, any remedy of law may prove to be inadequate relief to the Lender and the other Secured Parties. Therefore, each Grantor agrees that the Lender and the other Secured Parties, at the option
of the Lender and the other Secured Parties, shall be entitled to temporary and permanent injunctive relief in any such case without the necessity of proving actual damages. 

(b) The Lender, the other Secured Parties and each Grantor hereby agree that no such Person shall have a remedy of punitive or
exemplary damages against any other party to a Loan Document and each such Person hereby waives any right or claim to punitive or exemplary damages that they may now have or may arise in the future in connection with any dispute under this Agreement
or any other Loan Document, whether such dispute is resolved through arbitration or judicially. 
 25. Amendment and Restatement.
This Agreement constitutes an amendment and restatement of the Existing Pledge and Security Agreement effective from and after the date hereof. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby
are not intended by the parties to be, and shall not constitute, a novation or an accord and satisfaction of the Guaranteed Obligations or any other obligations owing to the Lender under the Existing Pledge and Security Agreement. Each of the
parties hereto hereby acknowledges and agrees that the pledge and grant of the security interests in the Collateral pursuant to this Agreement is not intended to, nor shall it be construed, as constituting a release of any prior pledge or security
interests granted by Debtor in favor of the Lender under the Existing Pledge and Security Agreement, but is intended to constitute a restatement and reconfirmation of the prior security interests granted by any such Grantor in favor of the Lender in
and to the Collateral. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 -29- 

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

					
	GRANTORS:	 	 ASTRONOVA, INC.

			
		 	By:	 	/s/ David S. Smith
	 	 	Name:	 	David S. Smith
	 	 	Title:	 	Vice President and Chief Financial Officer

 [Signature Page to AstroNova, Inc. Security and Pledge Agreement] 

 Accepted and agreed to as of the date first above written. 

 

			
	BANK OF AMERICA, N.A., as Lender
		
	By:	 	/s/ Nicholas Storti
	Name:	 	Nicholas Storti
	Title:	 	Senior Vice President

 [Signature Page to AstroNova, Inc. Security and Pledge Agreement] 

 EXHIBIT A 

[FORM OF] 
 IRREVOCABLE STOCK
POWER 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers to __________________ the following Equity Interests of
[___________], a [_________] [corporation] [limited liability company]: 
  

			
	No. of Shares	 	Certificate No.

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

			
	 
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  
 A-1 

 EXHIBIT B 

[FORM OF] 
 NOTICE 

OF 
 GRANT OF SECURITY INTEREST 

IN 
 COPYRIGHTS 

United States Copyright Office 
 Ladies and Gentlemen: 

Please be advised that pursuant to the Amended and Restated Security and Pledge Agreement dated as of July [__], 2020 (as amended, modified,
extended, restated, renewed, replaced, or supplemented from time to time, the “Agreement”) by and among the Grantors party thereto (each an “Grantor” and collectively, the “Grantors”) and Bank of
America, N.A., as lender (the “Lender”) for the Secured Parties referenced therein, the undersigned Grantor has granted a continuing security interest in and continuing lien upon the copyrights and copyright applications shown on
Schedule 1 attached hereto to the Lender for the ratable benefit of the Secured Parties. 
 The undersigned Grantor and the Lender,
on behalf of the Secured Parties, hereby acknowledge and agree that the security interest in the foregoing copyrights and copyright applications (a) may only be terminated in accordance with the terms of the Agreement and (b) is not to be
construed as an assignment of any copyright or copyright application. 
  

			
	Very truly yours,
	
	[GRANTOR]
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  

			
	Acknowledged and Accepted:
	
	BANK OF AMERICA, N.A., as Lender
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  

  
 B-1 

 EXHIBIT C 

[FORM OF] 
 NOTICE 

OF 
 GRANT OF SECURITY INTEREST 

IN 
 PATENTS 

United States Patent and Trademark Office 
 Ladies and Gentlemen:

 Please be advised that pursuant to the Amended and Restated Security and Pledge Agreement dated as of July [__], 2020 (as amended,
modified, extended, restated, renewed, replaced, or supplemented from time to time, the “Agreement”) by and among the Grantors party thereto (each an “Grantor” and collectively, the “Grantors”) and
Bank of America, N.A., as lender (the “Lender”) for the Secured Parties referenced therein, the undersigned Grantor has granted a continuing security interest in and continuing lien upon the patents and patent applications shown on
Schedule 1 attached hereto to the Lender for the ratable benefit of the Secured Parties. 
 The undersigned Grantor and the Lender,
on behalf of the Secured Parties, hereby acknowledge and agree that the security interest in the foregoing patents and patent applications (a) may only be terminated in accordance with the terms of the Agreement and (b) is not to be
construed as an assignment of any patent or patent application. 
  

			
	Very truly yours,
	
	[GRANTOR]
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  

			
	Acknowledged and Accepted:
	
	BANK OF AMERICA, N.A., as Lender
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  

  
 C-1 

 EXHIBIT D 

[FORM OF] 
 NOTICE 

OF 
 GRANT OF SECURITY INTEREST 

IN 
 TRADEMARKS 

United States Patent and Trademark Office 
 Ladies and Gentlemen:

 Please be advised that pursuant to the Amended and Restated Security and Pledge Agreement dated as of July [__], 2020 (as amended,
modified, extended, restated, renewed, replaced, or supplemented from time to time, the “Agreement”) and among the Grantors party thereto (each an “Grantor” and collectively, the “Grantors”) and
Bank of America, N.A., as lender (the “Lender”) for the Secured Parties referenced therein, the undersigned Grantor has granted a continuing security interest in and continuing lien upon the trademarks and trademark applications
shown on Schedule 1 attached hereto to the Lender for the ratable benefit of the Secured Parties. 
 The undersigned Grantor and the
Lender, on behalf of the Secured Parties, hereby acknowledge and agree that the security interest in the foregoing trademarks and trademark applications (a) may only be terminated in accordance with the terms of the Agreement and (b) is
not to be construed as an assignment of any trademark or trademark application. 
  

			
	Very truly yours,
	
	[GRANTOR]
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  

			
	Acknowledged and Accepted:
	
	BANK OF AMERICA, N.A., as Lender
		
	By:	 	 
	Name:	 	 
	 Title:
	 	 

  

  
 D-1EX-10.3

 Exhibit 10.3 

 
  

 

OPEN-END MORTGAGE DEED TO SECURE PRESENT 

AND FUTURE LOANS UNDER CHAPTER 25 OF TITLE 34 

OF THE RHODE ISLAND GENERAL LAWS, 

ASSIGNMENT OF LEASES AND RENTS, 

SECURITY AGREEMENT AND 
 FIXTURE
FILING 
 by 
 ASTRONOVA, INC.,

 a Rhode Island corporation, 

as Mortgagor 
 and 

BANK OF AMERICA, N.A., 
 a national
banking association, 
 as Mortgagee 

This document serves as a Fixture Filing under the Rhode Island Uniform Commercial Code. 

Mortgagor’s Organizational Identification Number is 000001534. 

Property Commonly Known As: 600 East Greenwich Avenue 

(a/k/a Assessor’s Plat 30, Lots 46, 40, 48, 24, 64 and 37) 

City/County: West Warwick, Kent County 

State: Rhode Island 
  

 
  

RI CREB Mortgage - 810943 
 Revised June 12, 2019 

 OPEN-END MORTGAGE DEED TO SECURE PRESENT AND
FUTURE LOANS UNDER CHAPTER 25 OF TITLE 34 OF THE RHODE ISLAND GENERAL LAWS, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING 

This OPEN-END MORTGAGE DEED TO SECURE PRESENT AND FUTURE LOANS UNDER CHAPTER 25 OF TITLE 34 OF THE
RHODE ISLAND GENERAL LAWS, ASSIGNMENT OF LEASES AND RENTS, SECURITY AGREEMENT AND FIXTURE FILING is made as of the 30th day of July, 2020 (the “Effective Date”), by ASTRONOVA,
INC., a Rhode Island corporation (herein referred to as “Mortgagor”), whose address is 600 East Greenwich Avenue, West Warwick, Rhode Island 02893, to BANK OF AMERICA, N.A., a national banking association
(“Mortgagee”), whose address is 100 Westminster Street RI-536-10-01, Providence, RI 02903. 

Recitals 
 WHEREAS,
Mortgagor has requested that Mortgagee make the Loan (as hereinafter defined) to Mortgagor. As a condition precedent to making the Loan, Mortgagee has required that Mortgagor execute and deliver this Open-End
Mortgage Deed to Secure Present and Future Loans Under Chapter 25 of Title 34 of The Rhode Island General Laws, Assignment of Leases and Rents, Security Agreement and Fixture Filing. 

Grants and Agreements 

Now, therefore, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged by Mortgagor, and in order to
induce Mortgagee to make the Loan to Mortgagor, Mortgagor agrees as follows: 
 Article I 

Definitions. 
 As used in
this Mortgage, the terms defined in the Preamble hereto shall have the respective meanings specified therein, and the following additional terms shall have the meanings specified: 

“Accessories” means all fixtures, fittings, apparatus, equipment, systems, machinery, furnishings, appliances, building and
construction materials, supplies and other articles of personal property and replacements thereof, of every kind and character, tangible and intangible (including software embedded therein), now owned or hereafter acquired by Mortgagor, which are
now or hereafter attached to, affixed to, placed upon or situated in, on or about the Land or Improvements, or used in or necessary to the complete and proper planning, development, use, occupancy or operation thereof, or acquired (whether delivered
to the Land or stored elsewhere) for use or installation in or on the Land or Improvements, and all Additions to the foregoing, all of which are hereby declared to be permanent accessions to the Land, but excluding the Movable Personal Property.

 “Accounts” means all accounts of Mortgagor within the meaning of the Uniform Commercial Code of the State, derived from
or arising out of the use, occupancy or enjoyment of the Property or for services rendered therein or thereon. 

“Additions” means any and all alterations, additions, accessions and improvements to property, substitutions therefor, and
renewals and replacements thereof. 
 “Claim” means any liability, suit, action, claim, demand, loss, expense, penalty,
fine, judgment or other cost of any kind or nature whatsoever, including fees, costs and expenses of attorneys, consultants, contractors and experts. 

  
 Page 1 

 “Condemnation” means any taking of title to, use of, or any other interest
in the Property under the exercise of the power of condemnation or eminent domain, whether temporarily or permanently, by any Governmental Authority or by any other Person acting under or for the benefit of a Governmental Authority. 

“Condemnation Awards” means any and all judgments, awards of damages (including severance and consequential damages),
payments, proceeds, settlements, amounts paid for a taking in lieu of Condemnation, or other compensation heretofore or hereafter made, including interest thereon, and the right to receive the same, as a result of, or in connection with, any
Condemnation or threatened Condemnation. 
 “Contract of Sale” means any contract for the sale of all or any part of the
Property or any interest therein, whether now in existence or hereafter executed. 
 “Controlled Substances Act” means the
Controlled Substances Act (21 U.S.C. Sections 801 et seq.), as amended from time to time, and any successor statute. 

“Default” means an event or circumstance which, with the giving of Notice or lapse of time, or both, would constitute an
Event of Default under the provisions of this Mortgage. 
 “Design and Construction Documents” means, collectively,
(a) all contracts for services to be rendered, work to be performed or materials to be supplied in the development of the Land or the construction or repair of Improvements, including all agreements with architects, engineers or contractors for
such services, work or materials; (b) all plans, drawings and specifications for the development of the Land or the construction or repair of Improvements; (c) all permits, licenses, variances and other rights or approvals issued by or
obtained from any Governmental Authority or other Person in connection with the development of the Land or the construction or repair of Improvements; and (d) all amendments of or supplements to any of the foregoing. 

“Encumbrance” means any Lien, easement, right of way, roadway (public or private), declaration, condition, covenant, or
restriction (including any declaration, condition, covenant, or restriction in connection with any condominium development or cooperative housing development), Lease or other matter of any nature that would affect title to the Property. 

“Environmental Agreement” means the Environmental Indemnification and Release Agreement of even date herewith by and between
Mortgagor and Mortgagee pertaining to the Property, as the same may from time to time be extended, amended, restated, supplemented or otherwise modified. 

“Event of Default” means an event or circumstance specified in Article VI and the continuance of such event or
circumstance beyond the applicable grace and/or cure periods therefor, if any, set forth in Article VI. 

“Expenses” means all fees, charges, costs and expenses of any nature whatsoever, including, without limitation, any expenses
set forth in the other Loan Documents, incurred at any time and from time to time (whether before or after an Event of Default) by Mortgagee in making the Loan, in protecting the security of this Mortgage, or in exercising or enforcing any rights,
powers and remedies provided in this Mortgage or any of the other Loan Documents, including reasonable attorneys’ fees, court costs, receiver’s fees, management fees and costs incurred in the completion, repair, maintenance and operation
of, or taking possession of, or selling, the Property. 
 “Flood Insurance Laws” means, collectively, (a) the National
Flood Insurance Act of 1968, (b) the Flood Disaster Protection Act of 1973, and (c) the National Flood Insurance Reform Act of 1994, and any regulation promulgated thereto, each as amended and together with any successor Law of such type. 

“Governmental Authority” or “Governmental Authorities” means the government of the United States or any
other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

  
 Page 2 

 “Hedge Agreement” means any agreement, if and only if evidenced by a
writing reciting that it is secured by this Mortgage, relating to any transaction that is a rate swap, basis swap transaction, forward rate transaction, commodity swap, commodity option, equity or equity index swap or option, bond option, note or
bill option, interest rate option, forward foreign exchange transaction, cap transaction, spot or floor transaction, collar transaction, currency swap transaction, cross-currency rate swap transaction, swap option, currency option, credit swap or
default transaction, T-lock, or any other similar transaction (including any option to enter into any of the foregoing) or any combination of the foregoing, and, unless the context otherwise clearly requires,
any agreement or contract that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute, and CFTC Regulation
1.3(xxx), any form of master agreement published by the International Swaps and Derivatives Association, Inc., and any other master agreement, entered into by Mortgagor, together with any related schedules and confirmations, as the same may be
amended, restated, replaced, supplemented, superseded or otherwise modified from time to time in accordance with its terms, relating to or governing any or all of the foregoing. 

“Improvements” means all buildings, structures and replacements thereof and other improvements now or hereafter existing,
erected or placed on the Land, including all plant, equipment, apparatus, machinery and fixtures of every kind and nature whatsoever forming part of said structures and/or buildings together with any on-site
improvements and off-site improvements in any way used or to be used in connection with the use, enjoyment, occupancy or operation of the Land. 

“Insurance Proceeds” means the insurance claims under and the proceeds of any and all policies of insurance covering the
Property or any part thereof, including all returned and unearned premiums with respect to any insurance relating to such Property, in each case whether now or hereafter existing or arising. 

“Land” means the real property described in Exhibit A attached hereto and made a part hereof. 

“Law” or “Laws” means, collectively, all international, foreign, federal, state and local statutes,
treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation
or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. With
respect to Mortgagor and the Property, “Law” or “Laws” includes all Laws pertaining to the construction, sale, leasing or use of the Improvements and to access and facilities for handicapped or disabled persons,
including without limitation and to the extent applicable, any building codes, the Controlled Substances Act, the Flood Insurance Laws, the Federal Architectural Barriers Act (42 U.S.C. § 4151 et seq.), the Fair Housing Amendments
Act of 1988 (42 U.S.C. § 3601 et seq.), the Americans With Disabilities Act of 1990 (42 U.S.C. § 12101 et seq.), the Rehabilitation Act of 1973 (29 U.S.C. § 794), each as amended to date and further amended
from time to time. 
 “Lease(s)” means all leases, license agreements and other occupancy or use agreements (whether oral
or written), now or hereafter existing, which cover or relate to the Property or any part thereof, together with all options therefor, amendments thereto and renewals, modifications and guaranties thereof, including any cash or security deposited
under the Leases to secure performance by the tenants of their obligations under the Leases, whether such cash or security is to be held until the expiration of the terms of the Leases or applied to one or more of the installments of rent coming due
thereunder. 

  
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 “Letter of Credit” or “Letters of Credit” means any letter
of credit issued by Mortgagee for the account of Mortgagor or its nominee in connection with the Land or the Improvements, together with any and all extensions, renewals or modifications thereof, substitutions therefor or replacements thereof, if
and only if evidenced by a writing reciting that the same is or are secured by this Mortgage. 
 “Lien” has the meaning
given to such term in the Loan Agreement. 
 “Loan” means, collectively, the loans from Mortgagee to Mortgagor pursuant to
the Loan Agreement, the repayment obligations in connection with which are evidenced by the Note. 
 “Loan Agreement” means
the Amended and Restated Credit Agreement of even date herewith between Mortgagor and Mortgagee which sets forth, among other things, the terms and conditions upon which the proceeds of the Loan will be disbursed, as the same may from time to time
be extended, amended, restated, supplemented or otherwise modified. 
 “Loan Documents” means this Mortgage, the Note,
the Environmental Agreement, the Loan Agreement, any Hedge Agreement, any application or reimbursement agreement executed in connection with any Letter of Credit, and any and all other documents which Mortgagor or any other party or
parties have executed and delivered, or may hereafter execute and deliver, to evidence, secure or guarantee the Obligations, or any part thereof, as the same may from time to time be extended, amended, restated, supplemented or otherwise modified.

 “Mortgage” means this Open-End Mortgage Deed to Secure Present and Future Loans
Under Chapter 25 of Title 34 of The Rhode Island General Laws, Assignment of Leases and Rents, Security Agreement and Fixture Filing, as the same may from time to time be extended, renewed, amended, restated, supplemented or otherwise modified. 

“Movable Personal Property” means any item of tangible personal property owned by Borrower that is not a fixture or otherwise
affixed or to become affixed to the Real Property. By way of example but not in limitation, Movable Personal Property would include desks, chairs and other furniture, curtains, portable dishwashers and portable microwave ovens, clothes washers and
dryers and other portable equipment, and inventory. 
 “Note” means, singly and collectively, (i) that certain Term
Note of even date herewith made by Mortgagor payable to the order of Mortgagee in the principal face amount of Fifteen Million Two Hundred Thirty-Two Thousand and No/100 Dollars ($15,232,000.00) and
(ii) that certain Revolving Note of even date herewith made by Mortgagor payable to the order of Mortgagee in the principal face amount of Ten Million and No/100 Dollars ($10,000,000.00), as the same may from time to time be extended, renewed,
amended, restated, replaced, supplemented or otherwise modified. 
 “Notice” means a notice, request, consent, demand or
other communication given in accordance with the provisions of this Mortgage. 
 “Obligations” means all present and future
debts, advances, obligations and liabilities of Mortgagor to Mortgagee arising pursuant to, and/or on account of, the provisions of this Mortgage, the Note or any of the other Loan Documents, including the obligations: (a) to pay all principal,
interest, late charges, prepayment premiums (if any) and other amounts due at any time under the Note; (b) to pay all Expenses, indemnification payments, fees and other amounts due at any time under this Mortgage or any of the other Loan
Documents, together with interest thereon as herein or therein provided; (c) to pay and perform all obligations of Mortgagor under any Hedge Agreement between Mortgagor and Mortgagee (or its affiliate); (d) to perform, observe and comply with
all of the other terms, covenants and conditions, expressed or implied, which Mortgagor is required to perform, observe or comply with pursuant to this Mortgage or any of the other Loan Documents; and (e) to pay and perform all future advances
and other obligations that Mortgagor or any successor in ownership of all or part of the Property may agree to pay and/or perform (whether as principal, surety or guarantor) for the benefit of Mortgagee, when a writing evidences the parties’
agreement that the advance or obligation be secured by this Mortgage. 

  
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 “Permitted Encumbrances” means (a) any matters set forth in any policy
of title insurance issued to Mortgagee and insuring Mortgagee’s interest in the Property which are acceptable to Mortgagee as of the date hereof, (b) the Liens and interests of this Mortgage, (c) any Permitted Lien (as defined in the
Loan Agreement), and (d) any other Encumbrance that Mortgagee shall expressly approve in writing in its sole and absolute discretion. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Personalty” means all personal property of any kind or nature
whatsoever, whether tangible or intangible and whether now owned or hereafter acquired, in which Mortgagor now has or hereafter acquires an interest and which is used in the construction of, or is placed upon, or is derived from or used in
connection with the maintenance, use, occupancy or enjoyment of, the Property, including (a) the Accessories; (b) the Accounts; (c) all franchise, license, management or other agreements with respect to the operation of the Real
Property or the business conducted therein (provided all of such agreements shall be subordinate to this Mortgage, and Mortgagee shall have no responsibility for the performance of Mortgagor’s obligations thereunder) and all general intangibles
(including payment intangibles, trademarks, trade names, goodwill, software and symbols) related to the Real Property or the operation thereof; (d) all sewer and water taps, appurtenant water stock or water rights, allocations and agreements
for utilities, bonds, letters of credit, letter-of-credit rights, permits, certificates, licenses, guaranties, warranties, causes of action, judgments, Claims, profits,
security deposits, utility deposits, deposits or escrows for taxes, insurance or other matters, and all rebates or refunds of fees, Taxes, assessments, charges or deposits paid to any Governmental Authority related to the Real Property or the
operation thereof; (e) all of Mortgagor’s rights and interests under all Hedge Agreements, including all rights to the payment of money from Mortgagee (or its affiliate) under any Hedge Agreement and all accounts, deposit accounts and
general intangibles, including payment intangibles, described in any Hedge Agreement; (f) all insurance policies held by Mortgagor with respect to the Property or Mortgagor’s operation thereof; and (g) all money, instruments, chattel
paper, or mortgages and documents (whether tangible or electronic) arising from or by virtue of any transactions related to the Property, and all deposits and deposit accounts of Mortgagor with Mortgagee related to the Property, including any such
deposit account from which Mortgagor may from time to time authorize Mortgagee to debit and/or credit payments due with respect to the Loan; together with all Additions to and Proceeds of all of the foregoing, but excluding any Movable Personal
Property. 
 “Proceeds” when used with respect to any of the Property, means all proceeds of such Property, including all
Insurance Proceeds and all other proceeds within the meaning of that term as defined in the Uniform Commercial Code of the State. 

“Property” means the Real Property and the Personalty and all other rights, interests and benefits of every kind and
character which Mortgagor now has or hereafter acquires in, to or for the benefit of the Real Property and/or the Personalty and all other property and rights used or useful in connection therewith, including all Leases, all Rents, all Condemnation
Awards, all Proceeds, and all of Mortgagor’s right, title and interest in and to all Design and Construction Documents, and all Contracts of Sale. 

“Property Assessments” means all Taxes, payments in lieu of taxes, water rents, sewer rents, assessments, condominium and
owner’s association assessments and charges, maintenance charges and other governmental or municipal or public or private dues, charges and levies and any Liens (including federal tax liens) which are or may be levied, imposed or assessed upon
the Property or any part thereof, or upon any Leases or any Rents, whether levied directly or indirectly or as excise taxes, as income taxes, or otherwise. 

  
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 “Real Property” means the Land and Improvements, together with (a) all
estates, title interests, title reversion rights, remainders, increases, issues, profits, rights of way or uses, additions, accretions, servitudes, strips, gaps, gores, liberties, privileges, water rights, water courses, alleys, passages, ways,
vaults, licenses, tenements, franchises, hereditaments, royalties, appurtenances, air space, easements, rights-of-way, rights of ingress or egress, parking rights,
timber, crops, mineral interests and other rights, now or hereafter owned by Mortgagor and belonging or appertaining to the Land or Improvements; (b) all Claims whatsoever of Mortgagor with respect to the Land or Improvements, either in law or
in equity, in possession or in expectancy; (c) all estate, right, title and interest of Mortgagor in and to all streets, roads and public places, opened or proposed, now or hereafter adjoining or appertaining to the Land or Improvements; and
(d) all options to purchase the Land or Improvements, or any portion thereof or interest therein, and any greater estate in the Land or Improvements, and all Additions to and Proceeds of the foregoing. 

“Rents” means all of the rents, royalties, issues, profits, revenues, earnings, income and other benefits of the Property or
any part thereof, or arising from the use or enjoyment of the Property or any part thereof, including all such amounts paid under or arising from any of the Leases and all fees, charges, accounts or other payments for the use or occupancy of rooms
or other public facilities within the Real Property or any part thereof. 
 “State” means the state in which the Land is
located. 
 “Taxes” means all taxes and assessments, whether general or special, ordinary or extraordinary, or foreseen or
unforeseen, which at any time may be assessed, levied, confirmed or imposed by any Governmental Authority or any community facilities or other private district on Mortgagor or on any of its properties or assets or any part thereof or in respect of
any of its franchises, businesses, income or profits. 
 “Transfer” means any direct or indirect sale, assignment,
conveyance or transfer, including any Contract of Sale and any other contract or agreement to sell, assign, convey or transfer, in whole or in part, whether made voluntarily or by operation of Law or otherwise, and whether made with or without
consideration. 
 Article II 

Granting Clauses; Condition of Grant. 

Section 2.1 Conveyances and Security Interests. 

In order to secure the prompt payment and performance of the Obligations, Mortgagor (a) grants, bargains, sells, conveys, transfers and
assigns with MORTGAGE COVENANTS, UPON THE STATUTORY CONDITION AND WITH THE STATUTORY POWER OF SALE the Real Property unto Mortgagee, all estate, right, title and interest of Mortgagor in and to the Real Property, whether now owned or held or
hereafter acquired by Mortgagor, to have and hold the Real Property unto Mortgagee, its successors and assigns forever; and to hold the Real Property unto Mortgagee in fee simple forever; provided that Mortgagor may retain possession of the Real
Property until the occurrence of an Event of Default; (b) grants to Mortgagee a security interest in the Personalty; (c) assigns to Mortgagee, and grants to Mortgagee a security interest in, all Condemnation Awards and all Insurance
Proceeds; and (d) assigns to Mortgagee, and grants to Mortgagee a security interest in, all of Mortgagor’s right, title and interest in, but not any of Mortgagor’s obligations or liabilities under, all Design and Construction
Documents, and all Contracts of Sale. All Persons who may have or acquire an interest in all or any part of the Property will be deemed to have notice of, and will be bound by, the terms of the Obligations and each other agreement or instrument made
or entered into in connection with each of the Obligations. Such terms include any provisions in the Note, the Loan Agreement or any Hedge Agreement between Mortgagor and Mortgagee (or its affiliate) which provide that the interest rate on one or
more of the Obligations may vary from time to time. The definition of “Obligations” includes future advances. 

  
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 Section 2.2 Absolute Assignment of Leases and Rents. 

In consideration of the making of the Loan by Mortgagee to Mortgagor, the sum of Ten and No/100 Dollars ($10.00) and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Mortgagor absolutely and unconditionally assigns the Leases and Rents to Mortgagee. This assignment is, and is intended to be, an unconditional, absolute and present
assignment from Mortgagor to Mortgagee of all of Mortgagor’s right, title and interest in and to the Leases and the Rents and not an assignment in the nature of a pledge of the Leases and Rents or the mere grant of a security interest therein.
So long as no Event of Default shall exist, however, and so long as Mortgagor is not in default in the performance of any obligation, covenant or agreement contained in the Leases, Mortgagor shall have a license (which license shall terminate
automatically and without notice upon the occurrence of an Event of Default or a default by Mortgagor under the Leases) to collect, but not prior to accrual, all Rents. Mortgagor agrees to collect and hold all Rents in trust for Mortgagee and, upon
the occurrence and during the continuance of an Event of Default, to pay over all Rents to Mortgagee, or apply them as otherwise directed by Mortgagee. 

Section 2.3 Security Agreement, Fixture Filing and Financing Statement. 

This Mortgage creates a security interest in the Personalty, and, to the extent the Personalty is not real property, this Mortgage constitutes
a security agreement from Mortgagor to Mortgagee under the Uniform Commercial Code of the State. Notwithstanding anything herein or in any other Loan Documents to the contrary, this Mortgage does not grant to Mortgagee a security interest in any
Movable Personal Property. In addition to all of its other rights under this Mortgage and otherwise, Mortgagee shall have all of the rights of a secured party under the Uniform Commercial Code of the State, as in effect from time to time, or under
the Uniform Commercial Code in force from time to time in any other state to the extent the same is applicable Law. This Mortgage shall be effective as a financing statement filed as a fixture filing with respect to all fixtures included within the
Property and is to be filed for record in the land evidence records of each city or town where any part of the Property (including such fixtures) is situated. This Mortgage shall also be effective as a financing statement with respect to any other
Property as to which a security interest may be perfected by the filing of a financing statement and may be filed as such in any appropriate filing or recording office. The respective mailing addresses of Mortgagor and Mortgagee are set forth in the
opening paragraph of this Mortgage. A carbon, photographic or other reproduction of this Mortgage or any other financing statement relating to this Mortgage shall be sufficient as a financing statement for any of the purposes referred to in this
Section. Mortgagor hereby irrevocably authorizes Mortgagee at any time and from time to time to file any initial financing statements, amendments thereto and continuation statements as authorized by applicable Law, reasonably required by Mortgagee
to establish or maintain the validity, perfection and priority of the security interests granted in this Mortgage. The foregoing authorization includes Mortgagor’s irrevocable authorization for Mortgagee at any time and from time to time to
file any initial financing statements and amendments thereto that indicate the Personalty (a) as “all assets” of Mortgagor or words of similar effect, but excluding any Movable Personal Property, regardless of whether any
particular asset comprised in the Personalty falls within the scope of the Uniform Commercial Code of the State or the jurisdiction where the initial financing statement or amendment is filed, or (b) as being of an equal or lesser scope or with
greater detail. 
 Section 2.4 Release of Mortgage and Termination of Assignments and Financing Statements. 

If and when Mortgagor has paid and performed all of the Obligations, and no further advances are to be made under the Loan Agreement, Mortgagee
will provide a discharge of the Property and a release of the lien of this Mortgage and termination statements for filed financing statements, if any, to Mortgagor. Mortgagor shall be responsible for the recordation of such release and the payment
of any recording and filing costs. Upon the recording of such release and the filing of such termination statements, the absolute assignments set forth in Section 2.2 shall automatically terminate and become null and void.

  
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 Article III 

Representations and Warranties. 

Mortgagor makes the following representations and warranties to Mortgagee: 

Section 3.1 Title to Real Property. 

Mortgagor (a) owns good and marketable fee simple title to the Real Property, (b) owns all of the beneficial and equitable interest
in and to the Real Property, and (c) is lawfully seized and possessed of the Real Property. Mortgagor has the right and authority to mortgage and convey the Real Property and does hereby mortgage and convey the Real Property with general
warranty to Mortgagee. The Real Property is subject to no Encumbrances other than the Permitted Encumbrances. 
 Section 3.2 Title
to Other Property. 
 Mortgagor has good title to the Personalty, and the Personalty is not subject to any Encumbrance other than the
Permitted Encumbrances. None of the Leases, Rents, Design and Construction Documents, or Contracts of Sale are subject to any Encumbrance other than the Permitted Encumbrances. 

Section 3.3 Property Assessments. 

The Real Property is assessed for purposes of Property Assessments as a separate and distinct parcel from any other property, such that the
Real Property shall never become subject to the Lien of any Property Assessments levied or assessed against any property other than the Real Property. 

Section 3.4 Independence of the Real Property. 

No buildings or other improvements on property not covered by this Mortgage rely on the Real Property or any interest therein to fulfill any
requirement of any Governmental Authority for the existence of such property, building or improvements; and none of the Real Property relies, or will rely, on any property not covered by this Mortgage or any interest therein to fulfill any
requirement of any Governmental Authority. The Real Property has been properly subdivided from all other property in accordance with the requirements of any applicable Governmental Authorities. 

Section 3.5 Existing Improvements. 

The existing Improvements, if any, were constructed, and are being used and maintained, in accordance with all applicable Laws, including
zoning Laws. 
 Section 3.6 Leases and Tenants. 

The Leases are valid and are in full force and effect, and Mortgagor is not in default under any of the terms thereof. Except as expressly
permitted in the Loan Agreement, Mortgagor has not accepted any Rents in advance of the time the same became due under the Leases and has not forgiven, compromised or discounted any of the Rents. Mortgagor has title to and the right to assign the
Leases and Rents to Mortgagee, and no other assignment of the Leases or Rents has been granted. To the best of Mortgagor’s knowledge and belief, no tenant or tenants occupying, individually or in the aggregate, more than five percent (5%) of
the net rentable area of the Improvements are in default under their Lease(s) or are the subject of any bankruptcy, insolvency or similar proceeding. 

  
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 Article IV 

Affirmative Covenants. 

Section 4.1 Obligations. 

Mortgagor agrees to promptly pay and perform all of the Obligations, time being of the essence in each case. 

Section 4.2 Property Assessments; Documentary Taxes. 

Mortgagor (a) will promptly pay in full and discharge all Property Assessments, and (b) will furnish to Mortgagee, upon demand, the
receipted bills for such Property Assessments prior to the day upon which the same shall become delinquent. Property Assessments shall be considered delinquent as of the first day any interest or penalty commences to accrue thereon. Mortgagor will
promptly pay all stamp, documentary, recordation, transfer and intangible taxes and all other taxes that may from time to time be required to be paid with respect to the Loan, the Note, this Mortgage or any of the other Loan Documents. 

Section 4.3 Permitted Contests. 

Mortgagor shall not be required to pay any of the Property Assessments, or to comply with any Law, so long as Mortgagor shall in good faith,
and at its cost and expense, contest the amount or validity thereof, or take other appropriate action with respect thereto, in good faith and in an appropriate manner or by appropriate proceedings; provided that (a) such proceedings operate to
prevent the collection of, or other realization upon, such Property Assessments or enforcement of the Law so contested, (b) there will be no sale, forfeiture or loss of the Property during the contest, (c) Mortgagee or the Property is not
subject to any Claim as a result of such contest, other than if paid or discharged as required below, and (d) Mortgagor provides assurances satisfactory to Mortgagee (including the establishment of an appropriate reserve account with Mortgagee)
of its ability to pay such Property Assessments or comply with such Law in the event Mortgagor is unsuccessful in its contest. Each such contest shall be promptly prosecuted to final conclusion or settlement, and Mortgagor shall indemnify and save
Mortgagee harmless against all Claims in connection therewith. Promptly after the settlement or conclusion of such contest or action, Mortgagor shall comply with such Law and/or pay and discharge the amounts which shall be levied, assessed or
imposed or determined to be payable, together with all penalties, fines, interests, costs and expenses in connection therewith. 

Section 4.4 Compliance with Laws. 

Except as expressly set forth in the Loan Agreement, Mortgagor will comply with and not violate, and cause to be complied with and not
violated, all present and future Laws applicable to the Property and its use and operation. 
 Section 4.5 Maintenance and Repair of
the Property. 
 Mortgagor, at Mortgagor’s sole expense, will (a) keep and maintain Improvements and Accessories in as good a
condition as exists as of the Effective Date, ordinary wear and tear excepted, (b) make all necessary or appropriate repairs and Additions to Improvements and Accessories, so that each part of the Improvements and all of the Accessories shall
at all times be in good condition and fit and proper for the respective purposes for which they were originally intended, erected, or installed, and (c) commit or permit no waste. 

Section 4.6 Additions to Security. 

All right, title and interest of Mortgagor in and to all Improvements and Additions hereafter constructed or placed on the Property and in and
to any Accessories hereafter acquired shall, without any further mortgage, conveyance, assignment or other act by Mortgagor, become subject to the Lien of this Mortgage as fully and completely, and with the same effect, as though now owned by
Mortgagor and specifically described in the granting clauses hereof. Mortgagor agrees, however, to execute and deliver to Mortgagee such further documents as may be required by the terms of the Loan Agreement and the other Loan Documents. 

  
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 Section 4.7 Subrogation. 

To the extent permitted by Law, Mortgagee shall be subrogated, notwithstanding its release of record, to any Lien now or hereafter existing on
the Property to the extent that such Lien is paid or discharged by Mortgagee whether or not from the proceeds of the Loan. This Section shall not be deemed or construed, however, to obligate Mortgagee to pay or discharge any Lien. 

Section 4.8 Leases. 

(a) Except as expressly permitted in the Loan Agreement, Mortgagor shall not enter into any Lease with respect to all or any portion of
the Property without the prior written consent of Mortgagee, which consent shall not be unreasonably withheld. 
 (b) Mortgagee shall not be
obligated to perform or discharge any obligation of Mortgagor under any Lease. The assignment of Leases provided for in this Mortgage in no manner places on Mortgagee any responsibility for (i) the control, care, management or repair of the
Property, (ii) the carrying out of any of the terms and conditions of the Leases, (iii) any waste committed on the Property, or (iv) any dangerous or defective condition on the Property (whether known or unknown). 

(c) No approval of any Lease by Mortgagee shall be for any purpose other than to protect Mortgagee’s security and to preserve
Mortgagee’s rights under the Loan Documents, and no such approval shall result in a waiver of a Default or Event of Default. 

Section 4.9 Statutory Condition 

This Mortgage is upon the STATUTORY CONDITION and upon the further condition that there be no breach of or default under any of the terms,
provisions, covenants and agreements of any of the Loan Documents or any other instruments or agreements to secure the indebtedness secured hereby and that all such terms, provisions and agreements be duly and fully kept and performed. 

Article V 
 Negative Covenants.

 Section 5.1 Encumbrances. 

Mortgagor will not permit any of the Property to become subject to any Encumbrance other than the Permitted Encumbrances. Within thirty
(30) days after the filing of any mechanic’s lien or other Lien or Encumbrance against the Property, Mortgagor will promptly discharge or stay execution of the same by payment or filing a bond or otherwise as permitted by Law. So long as
Mortgagee’s security has been protected by the filing of a bond or otherwise in a manner satisfactory to Mortgagee in its sole and absolute discretion, Mortgagor shall have the right to contest in good faith any Claim, Lien or Encumbrance,
provided that Mortgagor does so diligently and without prejudice to Mortgagee or delay in completing construction of the Improvements. Mortgagor shall give Mortgagee Notice of any default under any Lien and Notice of any foreclosure or threat of
foreclosure with respect to any of the Property. Mortgagor agrees that it shall indemnify and hold Mortgagee harmless against any loss or liability, cost or expense, including any judgments, attorneys’ fees and costs, costs of appeal bonds and
printing costs, arising out of or relating to any proceeding instituted by any claimant alleging priority over the lien of this Mortgage. 

Section 5.2 Transfer of the Property. 

Mortgagor will not Transfer, or contract to Transfer, all or any part of the Property or any legal or beneficial interest therein (except for
certain Transfers of the Accessories expressly permitted in this Mortgage and except for Transfers permitted under the Loan Agreement). Any Disposition (as defined in the Loan Agreement) prohibited under the terms of the Loan Agreement shall be
deemed to be a prohibited Transfer of the Property. 

  
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 Section 5.3 Removal, Demolition or Alteration of Accessories and Improvements.

 Except to the extent permitted by the following sentence and the Loan Agreement, no Improvements or Accessories shall be removed,
demolished or materially altered without the prior written consent of Mortgagee. Provided no Event of Default has occurred and is continuing, Mortgagor may remove and dispose of, free from the Lien of this Mortgage, such Accessories as from time to
time become worn out or obsolete, provided that, at the time of, or prior to, such removal, any such Accessories that, in the Mortgagor’s reasonable business judgment, are material to the operation of the Property or the Mortgagor’s
business with respect thereto are replaced with other Accessories which are free from Liens other than Permitted Encumbrances (and by such removal and replacement Mortgagor shall be deemed to have subjected such Accessories to the Lien of this
Mortgage). 
 Section 5.4 Additional Improvements. 

Mortgagor will not construct any Improvements other than those presently on the Land and those described in the Loan Agreement without the
prior written consent of Mortgagee. Mortgagor will complete and pay for, within a reasonable time, any Improvements that Mortgagor is permitted to construct on the Land. Mortgagor will construct and erect any permitted Improvements (a) strictly
in accordance with all applicable Laws and any private restrictive covenants, (b) entirely on lots or parcels of the Land, (c) so as not to encroach upon any easement or right of way or upon the land of others, and (d) wholly within
any building restriction and setback lines applicable to the Land. 
 Section 5.5 Restrictive Covenants, Zoning, etc. 

Without the prior written consent of Mortgagee, which consent shall not be unreasonably withheld, conditioned or delayed absent an Event of
Default, Mortgagor will not initiate, join in, or consent to any change in, any restrictive covenant, easement, zoning ordinance, or other public or private restrictions limiting or defining the uses which may be made of the Property. Mortgagor
(a) will promptly perform and observe, and cause to be performed and observed, all of the terms and conditions of all material agreements affecting the Property, and (b) will do or cause to be done all things necessary to preserve intact
and unimpaired any and all easements, appurtenances and other interests and rights in favor of, or constituting any portion of, the Property. 

Article VI 
 Events of Default.

 The occurrence or happening, from time to time, of any one or more of the following shall constitute an Event of Default under this
Mortgage: 
 Section 6.1 Payment Obligations. 

Mortgagor fails to pay any of the Obligations when due, subject to all applicable grace periods and as governed by
Section 8.01(a) of the Loan Agreement. 
 Section 6.2 Transfers. 

Mortgagor Transfers, or contracts to Transfer, all or any part of the Property or any legal or beneficial interest therein (except for
Transfers of the Accessories expressly permitted under this Mortgage or the Loan Agreement). Any Disposition (as defined in the Loan Agreement) prohibited under the terms of the Loan Agreement shall be deemed to be a prohibited Transfer of the
Property constituting an Event of Default. 

  
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 Section 6.3 Other Obligations. 

Mortgagor fails to promptly perform or comply with any of the Obligations set forth in this Mortgage (other than those expressly described in
other Sections of this Article), and such failure continues uncured for a period of thirty (30) days after Notice from Mortgagee to Mortgagor, unless (a) such failure, by its nature, is not capable of being cured within such period, and
(b) within such period, Mortgagor commences to cure such failure and thereafter diligently prosecutes the cure thereof, and (c) Mortgagor causes such failure to be cured no later than ninety (90) days after the date of such Notice
from Mortgagee. 
 Section 6.4 Event of Default Under Other Loan Documents. 

An Event of Default (as defined in the Loan Agreement) occurs under the Loan Agreement. 

Section 6.5 Reserved. 

Section 6.6 Default Under Leases. 

Mortgagor fails duly to perform its material obligations under any Lease, and such failure is not cured within the grace period, if any,
provided in the Lease. 
 Section 6.7 Default Under Other Mortgage Documents. 

An event of default occurs after giving effect to any applicable grace or cure periods under any other mortgage, deed of trust, or security
agreement covering the Property, if any, including any Permitted Encumbrances. 
 Section 6.8 Execution; Attachment. 

Any execution or attachment is levied against all or any material part of the Property, and such execution or attachment is not set aside,
discharged or stayed within thirty (30) days after the same is levied. 
 Article VII 

Rights and Remedies. 
 Upon
the happening of any Event of Default, Mortgagee shall have the right, in addition to any other rights or remedies available to Mortgagee under any of the Loan Documents, applicable Law, or equity to exercise any one or more of the following rights,
powers or remedies: 
 Section 7.1 Acceleration. 

Mortgagee may accelerate any or all (as determined by Mortgagee in its sole discretion) of the Obligations, whereupon such Obligations shall
become immediately due and payable, and Mortgagee may also terminate any Hedge Agreement and such Hedge Agreement shall immediately terminate, all of the foregoing without notice of default, notice of acceleration or intention to accelerate,
presentment or demand for payment, protest, notice of protest, notice of nonpayment or dishonor, or notices or demands of any kind or character (all of which are hereby expressly waived by Mortgagor). 

Section 7.2 Mortgagee’s Right to Enter and Take Possession, Operate and Apply Income. 

(i) Mortgagee may demand that Mortgagor surrender the actual possession of the Property and upon such demand, Mortgagor shall forthwith
surrender same to Mortgagee and, to the extent permitted by law, Mortgagee itself, or by such officers or agents as it may appoint, may enter and take possession of all of the Property and may exclude Mortgagor and its agents and employees wholly
therefrom. 
 (ii) If Mortgagor shall for any reason fail to surrender or deliver the Property or any part thereof after Mortgagee’s
demand, Mortgagee may obtain a judgment or order conferring on Mortgagee the right to immediate possession or requiring the Mortgagor to deliver immediate possession to Mortgagee, to the entry of which judgment or decree the Mortgagor hereby
specifically consents. 

  
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 (iii) Mortgagee may from time to time: (A) continue and complete construction of, hold,
store, use, operate, manage and control the Property and conduct the business thereof; (B) make all reasonably necessary maintenance, repairs, renewals, replacements, additions, betterments and improvements thereto and thereon and purchase or
otherwise acquire additional Personalty; (C) insure or keep the Property insured; (D) exercise all the rights and powers of the Mortgagor in its name or otherwise with respect to the same; and (E) enter into agreements with others
(including new Leases or amendments, extensions, or cancellations to existing Leases) all as Mortgagee from time to time may determine in its sole discretion. Mortgagor hereby constitutes and irrevocably appoints Mortgagee its true and lawful attorney-in-fact, which appointment is coupled with an interest, with full power of substitution, and empowers said attorney or attorneys in the name of Mortgagor, but at the
option of said attorney-in-fact, to do any and all acts and execute any and all agreements that Mortgagee may deem necessary or proper to implement and perform any and
all of the foregoing. 
 Section 7.3 Collection of Rents. 

Upon the occurrence of an Event of Default, the license granted to Mortgagor to collect the Rents shall be automatically and immediately
revoked, without further notice to or demand upon Mortgagor. Mortgagee may, but shall not be obligated to perform any or all obligations of the landlord under any or all of the Leases, and Mortgagee may, but shall not be obligated to, exercise and
enforce any or all of Mortgagor’s rights under the Leases. Without limitation to the generality of the foregoing, Mortgagee may notify the tenants under the Leases that all Rents are to be paid to Mortgagee, and following such notice all Rents
shall be paid directly to Mortgagee and not to Mortgagor or any other Person other than as directed by Mortgagee, it being understood that a demand by Mortgagee on any tenant under the Leases for the payment of Rent shall be sufficient to warrant
payment by such tenant of Rent to Mortgagee without the necessity of further consent by Mortgagor. Mortgagor hereby irrevocably authorizes and directs the tenants under the Leases to pay all Rents to Mortgagee instead of to Mortgagor, upon receipt
of written notice from Mortgagee, without the necessity of any inquiry of Mortgagor and without the necessity of determining the existence or non-existence of an Event of Default. Mortgagor hereby appoints
Mortgagee as Mortgagor’s attorney-in-fact with full power of substitution, which appointment shall take effect upon the occurrence of an Event of Default and is
coupled with an interest and is irrevocable prior to the full and final payment and performance of the Obligations, in Mortgagor’s name or in Mortgagee’s name: (a) to endorse all checks and other instruments received in payment of
Rents and to deposit the same in any account selected by Mortgagee; (b) to give receipts and releases in relation thereto; (c) to institute, prosecute and/or settle actions for the recovery of Rents; (d) to modify the terms of any
Leases including terms relating to the Rents payable thereunder; (e) to cancel any Leases; (f) to enter into new Leases; and (g) to do all other acts and things with respect to the Leases and Rents which Mortgagee may deem necessary
or desirable to protect the security for the Obligations. Any Rents received shall be applied first to pay all Expenses and next in reduction of the other Obligations. Mortgagor shall pay, on demand, to Mortgagee, the amount of any deficiency
between (i) the Rents received by Mortgagee, and (ii) all Expenses incurred together with interest thereon as provided in the Loan Agreement and the other Loan Documents. 

Section 7.4 Foreclosure. 

Mortgagee may exercise the STATUTORY POWER OF SALE. Any sale made hereunder may be as an entirety or in such parcels as Mortgagee may request.
To the extent permitted by applicable Law, any sale may be adjourned by announcement at the time and place appointed for such sale without further notice except as may be required by law. If the proceeds of such sale of less than the whole of the
Property shall be less than the aggregate of the Obligations, this Mortgage and the lien hereof shall remain in full force and effect as to the unsold portion of the Property just as though no sale had been made and

  
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the STATUTORY POWER OF SALE shall also apply to any future sales. A sale may cover not only the Real Property but also the Personalty and other interests which are a part of the Property, or any
part thereof, as a unit and as a part of a single sale, or the sale may be of any part of the Property separately from the remainder of the Property. After each sale, the Mortgagee shall make to the purchaser or purchasers at such sale good and
sufficient conveyances, conveying the property so sold to the purchaser or purchasers in fee simple, subject to the Permitted Encumbrances (and to such leases and other matters, if any), and shall receive the proceeds of said sale or sales and apply
the same as herein provided. In the event any sale hereunder is not completed or is defective in the opinion of Mortgagee, such sale shall not exhaust the power of sale hereunder and Mortgagee shall have the right to cause a subsequent sale or sales
to be made hereunder. Any and all statements of fact or other recitals made in any deed or deeds or other conveyances given by the Mortgagee as to nonpayment of the Obligations or as to the occurrence of any default, or as to Mortgagee’s having
declared all of said indebtedness to be due and payable, or as to the request to sell, or as to notice of time, place and terms of sale and the properties to be sold having been duly given, or as to any other act or thing having been duly done by
Mortgagee shall be taken as prima facie evidence of the truth of the facts so stated and recited. 
 Section 7.5 Receiver. 

Mortgagee may apply to any court of competent jurisdiction to have a receiver appointed to enter upon and take possession of the Property,
collect the Rents therefrom and apply the same as the court may direct, such receiver to have all of the rights and powers permitted under the Laws of the State. To the extent permitted by law, the right of the appointment of such receiver shall be
a matter of strict right without regard to the value or the occupancy of the Property or the solvency or insolvency of Mortgagor. The expenses, including receiver’s fees, reasonable attorneys’ fees, costs and agent’s commission
incurred pursuant to the powers herein contained, together with interest thereon at the default rate under the Note, shall be secured hereby and shall be due and payable by Mortgagor immediately without notice or
demand.    Notwithstanding the appointment of any receiver or other custodian, Mortgagee shall be entitled as pledgee to the possession and control of any cash or deposits at the time held by, payable, or deliverable under the
terms of this Mortgage to the Mortgagee, and the Mortgagee shall have the right to offset the unpaid Obligations against any such cash or deposits in such order as Mortgagee may elect. 

Section 7.6 Uniform Commercial Code. 

Mortgagee may exercise any or all of its rights and remedies under the Uniform Commercial Code as adopted by the State as in effect from time
to time, (or under the Uniform Commercial Code in force from time to time in any other state to the extent the same is applicable Law) or other applicable Law as well as all other rights and remedies possessed by Mortgagee, all of which shall be
cumulative. Mortgagee is hereby authorized and empowered to enter the Property or other place where the Personalty may be located without legal process, and to take possession of the Personalty without notice or demand, which hereby are waived to
the maximum extent permitted by the Laws of the State. Upon demand by Mortgagee, Mortgagor shall make the Personalty available to Mortgagee at a place reasonably convenient to Mortgagee. Mortgagee may proceed under the Uniform Commercial Code as to
all or any part of the Personalty, and in conjunction therewith may exercise all of the rights, remedies and powers of a secured creditor under the Uniform Commercial Code. Any notification required by the Uniform Commercial Code shall be deemed
reasonably and properly given if sent in accordance with the Notice provisions of this Mortgage at least ten (10) days before any sale or other disposition of the Personalty. Mortgagee may choose to dispose of some or all of the
property, in any combination consisting of both Personalty and Real Property, in one or more public or private sales to be held in accordance with the Law and procedures applicable to real property, as permitted by Article 9 of the Uniform
Commercial Code. Mortgagor agrees that such a sale of Personalty together with Real Property constitutes a commercially reasonable sale of the Personalty. 

  
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 Section 7.7 Application of Proceeds 

Unless otherwise provided by applicable Law, all proceeds from the sale of the Property or any part thereof pursuant to the rights and remedies
set forth in this Article and any other proceeds received by Mortgagee from the exercise of any of its other rights and remedies hereunder or under the other Loan Documents shall be applied first to pay all Expenses and next in reduction of the
other Obligations, in such manner and order as Mortgagee may elect. 
 Section 7.8 Remedies Cumulative and Concurrent. 

No right, power or remedy of Mortgagee as provided in the Note, this Mortgage, the Guaranty, or the other Loan Documents is intended to be
exclusive of any other right, power, or remedy of Mortgagee, but each and every such right, power and remedy shall be cumulative and concurrent and in addition to any other right, power or remedy available to Mortgagee now or hereafter existing at
law or in equity and may be pursued separately, successively or together against Mortgagor, any guarantor, or any endorser, co-maker, or surety of the Obligations, or the Property or any part thereof, or any
one or more of them, at the sole discretion of Mortgagee. The failure of Mortgagee to exercise any such right, power or remedy shall in no event be construed as a waiver or release thereof. 

Section 7.9 Waiver, Delay or Omission. 

No waiver of any Event of Default hereunder shall extend to or affect any subsequent or any other Event of Default then existing, or impair any
rights, powers or remedies consequent thereon, and no delay or omission of Mortgagee to exercise any right, power or remedy shall be construed to waive any such Event of Default or to constitute acquiescence therein. 

Section 7.10 Credit of Mortgagee. 

To the maximum extent permitted by the Laws of the State, upon any sale made under or by virtue of this Article, Mortgagee may bid for and
acquire the Property, or any part thereof, and in lieu of paying cash therefor may apply to the purchase price, any portion of or all of the unpaid Obligations in such order as Mortgagee may elect. 

Section 7.11 Sale. 

Any sale or sales made under or by virtue of this Article shall operate to divest all the estate, right, title, interest, claim and demand
whatsoever at law or in equity, of the Mortgagor and all Persons, except tenants pursuant to Leases approved by Mortgagee, claiming by, through or under Mortgagor in and to the properties and rights so sold, whether sold to Mortgagee or to others.

 Section 7.12 Proofs of Claim. 

In the case of any receivership, insolvency, bankruptcy, reorganization, arrangement, adjustment, composition, seizure of the Property by any
Governmental Authority, or other judicial proceedings affecting the Mortgagor, any guarantor, any endorser, co-maker, or surety of the Obligations, or any of their respective properties, the Mortgagee, to the
extent permitted by law, shall be entitled to file such proofs of claim and other documents as may be necessary or advisable in order to have its claim allowed in such proceedings for the entire unpaid Obligations at the date of the institution of
such proceedings, and for any additional amounts which may become due and payable after such date. 
 Section 7.13 Waiver of
Redemption, Notice, Marshaling, Etc. 
 Mortgagor hereby waives and releases, for itself and anyone claiming through, by, or under it, to
the maximum extent permitted by the Laws of the State: 
 (i) all benefit that might accrue to Mortgagor by virtue of any present or future
Law exempting the Property, or any part of the proceeds arising from any sale thereof, from attachment, levy or sale on execution, or providing for any appraisement, valuation, stay of execution, exemption from civil process, redemption or extension
of time for payment, 

  
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 (ii) unless specifically required herein, all notices of default, or Mortgagee’s actual
exercise of any option or remedy under the Loan Documents, or otherwise, and 
 (iii) any right to have the Property marshaled. 

Section 7.14 Discontinuance of Proceedings. 

If Mortgagee shall have proceeded to enforce any right under any Loan Document and such proceedings shall have been discontinued or abandoned
for any reason, then except as may be provided in any written agreement between Mortgagor and Mortgagee providing for the discontinuance or abandonment of such proceedings, Mortgagor and Mortgagee shall be restored to their former positions and the
rights, remedies and powers of Mortgagee shall continue as if no such proceedings had been instituted. 
 Section 7.15
Mortgagee’s Actions. 
 Mortgagee may, at any time without notice to any Person and without consideration, do or refrain from
doing any or all of the following actions, and neither the Mortgagor, any guarantor, any endorser, co-maker, or surety of the Obligations, nor any other Person (hereinafter in this Section collectively
referred to as the “Obligor”) now or hereafter liable for the payment and performance of the Obligations shall be relieved from the payment and performance thereof, unless specifically released in writing by Mortgagee:
(a) agree to renew, extend or modify the terms of the Note, this Mortgage and the other Loan Documents, or any of them; (b) forbear or extend the time for the payment or performance of any or all of the Obligations; (c) apply payments
by any Obligor to the reduction of the unpaid Obligations in such manner, in such amounts, and at such times and in such order and priority as Mortgagee may see fit; (d) release any Obligor; (e) substitute or release in whole or in part
the Property or any other collateral or any portion thereof now or hereafter held as security for the Obligations without affecting, disturbing or impairing in any manner whatsoever the validity and priority of the lien of this Mortgage upon the
Property which is not released or substituted, or the validity and priority of any security interest of the Mortgagee in such other collateral which is not released or substituted; (f) subordinate the lien of this Mortgage or the lien of any
other security interest in any other collateral now or hereafter held as security for the Obligations; (g) join in the execution of a plat or replat of the Land (provided, however, notwithstanding the foregoing, Mortgagee will join in such plat
or replat of the Land so long as such plat or replat is acceptable to Mortgagee); (h) join in and consent to the filing of a declaration of condominium or declaration of restrictive covenants regarding all or any part of the Land; (i) consent
to the granting of any easement on the Land; and (j) generally deal with any Obligor or any other party as Mortgagee may see fit. 

Section 7.16 Other Remedies. 

Mortgagee shall have the right from time to time to protect, exercise and enforce any legal or equitable remedy against Mortgagor provided
under the Loan Documents or by applicable Laws. 
 Article VIII 

Miscellaneous. 

Section 8.1 Rights, Powers and Remedies Cumulative. 

Each right, power and remedy of Mortgagee as provided for in this Mortgage, or in any of the other Loan Documents or now or hereafter existing
by Law, shall be cumulative and concurrent and shall be in addition to every other right, power or remedy provided for in this Mortgage, or in any of the other Loan Documents or now or hereafter existing by Law, and the exercise or beginning of the
exercise by Mortgagee of any one or more of such rights, powers or remedies shall not preclude the simultaneous or later exercise by Mortgagee of any or all such other rights, powers or remedies. 

  
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 Section 8.2 No Waiver by Mortgagee. 

No course of dealing or conduct by or among Mortgagee and Mortgagor shall be effective to amend, modify or change any provisions of this
Mortgage or the other Loan Documents. No failure or delay by Mortgagee to insist upon the strict performance of any term, covenant or agreement of this Mortgage or of any of the other Loan Documents, or to exercise any right, power or remedy
consequent upon a breach thereof, shall constitute a waiver of any such term, covenant or agreement or of any such breach, or preclude Mortgagee from exercising any such right, power or remedy at any later time or times. By accepting payment after
the due date of any of the Obligations, Mortgagee shall not be deemed to waive the right either to require prompt payment when due of all other Obligations, or to declare an Event of Default for failure to make prompt payment of any such other
Obligations. Neither Mortgagor nor any other Person now or hereafter obligated for the payment of the whole or any part of the Obligations shall be relieved of such liability by reason of (a) the failure of Mortgagee to comply with any request
of Mortgagor or of any other Person to take action to foreclose this Mortgage or otherwise enforce any of the provisions of this Mortgage, or (b) any agreement or stipulation between any subsequent owner or owners of the Property and Mortgagee,
or (c) Mortgagee’s extending the time of payment or modifying the terms of this Mortgage or any of the other Loan Documents without first having obtained the consent of Mortgagor or such other Person. Regardless of consideration, and
without the necessity for any notice to or consent by the holder of any subordinate Lien on the Property, Mortgagee may release any Person at any time liable for any of the Obligations or any part of the security for the Obligations and may extend
the time of payment or otherwise modify the terms of this Mortgage or any of the other Loan Documents without in any way impairing or affecting the Lien of this Mortgage or the priority of this Mortgage over any subordinate Lien. The holder of any
subordinate Lien shall have no right to terminate any Lease regardless of whether or not such Lease is subordinate to this Mortgage. Mortgagee may resort to the security or collateral described in this Mortgage or any of the other Loan Documents in
such order and manner as Mortgagee may elect in its sole discretion. 
 Section 8.3 Waivers and Agreements Regarding Remedies.

 To the full extent Mortgagor may do so under applicable law, Mortgagor hereby voluntarily and knowingly: 

(a) agrees that it will not at any time plead, claim or take advantage of any Laws now or hereafter in force providing for any appraisement,
valuation, stay, extension or redemption, and waives and releases all rights of redemption, valuation, appraisement, stay of execution, exemption from civil process, extension of time for payment and notice of election to accelerate the Obligations;

 (b) waives all rights to a marshaling of the assets of Mortgagor, including the Property, or to a sale in the inverse order of alienation
in the event of a foreclosure of the Property, and agrees not to assert any right under any Law pertaining to the marshaling of assets, the sale in inverse order of alienation, the exemption of homestead, the administration of estates of decedents,
or other matters whatsoever to defeat, reduce or affect the right of Mortgagee under the terms of this Mortgage to a sale of the Property without any prior or different resort for collection, or the right of Mortgagee to the payment of the
Obligations out of the proceeds of sale of the Property in preference to every other claimant whatsoever; 

(c)    waives any right to bring or utilize any defense, counterclaim or setoff, other than one which denies the existence
or sufficiency of the facts upon which any foreclosure action is grounded. If any defense, counterclaim or setoff, other than one permitted by the preceding clause, is timely raised in a foreclosure action, such defense, counterclaim or setoff shall
be dismissed. If such defense, counterclaim or setoff is based on a Claim which could be tried in an action for money damages, such Claim may be brought in a separate action which shall not thereafter be consolidated with the foreclosure action. The
bringing of such separate action for money damages shall not be deemed to afford any grounds for staying the foreclosure action; and 

  
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 (d) waives and relinquishes any and all rights and remedies which Mortgagor may have or be
able to assert by reason of the provisions of any Laws pertaining to the rights and remedies of sureties. 
 Section 8.4 Successors
and Assigns. 
 All of the grants, covenants, terms, provisions and conditions of this Mortgage shall run with the Land and shall
apply to and bind the successors and assigns of Mortgagor (including any permitted subsequent owner of the Property), and inure to the benefit of Mortgagee, its successors and assigns. 

Section 8.5 No Warranty by Mortgagee. 

By inspecting the Property or by accepting or approving anything required to be observed, performed or fulfilled by Mortgagor or to be given to
Mortgagee pursuant to this Mortgage or any of the other Loan Documents, Mortgagee shall not be deemed to have warranted or represented the condition, sufficiency, legality, effectiveness or legal effect of the same, and such acceptance or approval
shall not constitute any warranty or representation with respect thereto by Mortgagee. 
 Section 8.6 Amendments. 

This Mortgage may not be modified or amended except by an agreement in writing, signed by the party against whom enforcement of the change is
sought. 
 Section 8.7 Severability. 

In the event any one or more of the provisions of this Mortgage or any of the other Loan Documents shall for any reason be held to be invalid,
illegal or unenforceable, in whole or in part or in any other respect, or in the event any one or more of the provisions of the Loan Documents operates or would prospectively operate to invalidate this Mortgage or any of the other Loan Documents,
then and in either of those events, at the option of Mortgagee, such provision or provisions only shall be deemed null and void and shall not affect the validity of the remaining Obligations, and the remaining provisions of the Loan Documents shall
remain operative and in full force and effect and shall in no way be affected, prejudiced or disturbed thereby. 
 Section 8.8
Notices. 
 All Notices required or which any party desires to give hereunder or under any other Loan Document shall be in writing
and, unless otherwise specifically provided in such other Loan Document, shall be deemed sufficiently given or furnished if delivered by personal delivery, by nationally recognized overnight courier service or by certified United States mail,
postage prepaid, addressed to the party to whom directed at the applicable address specified in the Preamble to this Mortgage (unless changed by similar notice in writing given by the particular party whose address is to be changed). The address at
which Mortgagee will accept written notices pursuant to Section 34-25-10(b) and
Section 34-25-11 of the Rhode Island General Laws of 1956, as amended, is ASTRONOVA, INC., 600 East Greenwich Avenue, West Warwick, Rhode Island 02893. Any Notice
shall be deemed to have been given either at the time of personal delivery or, in the case of courier or mail, as of the date of first attempted delivery at the address and in the manner provided herein, or, in the case of facsimile, upon receipt;
provided that service of a Notice required by any applicable statute shall be considered complete when the requirements of that statute are met. Notwithstanding the foregoing, no notice of change of address shall be effective except upon actual
receipt. This Section shall not be construed in any way to affect or impair any waiver of notice or demand provided in this Mortgage or in any other Loan Document or to require giving of notice or demand to or upon any Person in any situation or for
any reason. 
 Section 8.9 Joint and Several Liability. 

If Mortgagor consists of two (2) or more Persons, the term “Mortgagor” shall also refer to all Persons signing this Mortgage as
Mortgagor, and to each of them, and all of them are jointly and severally bound, obligated and liable hereunder. Mortgagee may release, compromise, modify or settle with any of Mortgagor, in whole or in part, without impairing, lessening or
affecting the obligations and liabilities of the others of Mortgagor hereunder or under the Note. Any of the acts mentioned aforesaid may be done without the approval or consent of, or notice to, any of Mortgagor. 

  
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 Section 8.10 Rules of Construction. 

The words “hereof,” “herein,” “hereunder,” “hereto,” and other words of
similar import refer to this Mortgage in its entirety. The terms “agree” and “agreements” mean and include “covenant” and “covenants.” The words “include” and
“including” shall be interpreted as if followed by the words “without limitation.” The headings of this Mortgage are for convenience of reference only and shall not be considered a part hereof and are not in any way
intended to define, limit or enlarge the terms hereof. Any reference to a Property street address(es) is for administrative and reference purposes only. In the event of any conflict between a Property street address(es) listed herein and Exhibit
A attached hereto, the legal description set forth on Exhibit A shall control. All references (a) made in the neuter, masculine or feminine gender shall be deemed to have been made in all such genders, (b) made in the singular
or plural number shall be deemed to have been made, respectively, in the plural or singular number as well, (c) to the Loan Documents are to the same as extended, amended, restated, supplemented or otherwise modified from time to time unless
expressly indicated otherwise, (d) to the Land, Improvements, Personalty, Real Property or Property shall mean all or any portion of each of the foregoing, respectively, and (e) to Articles or Sections are to the respective Articles or
Sections contained in this Mortgage unless expressly indicated otherwise. Any term used or defined in the Uniform Commercial Code of the State, as in effect from time to time, which is not defined in this Mortgage shall have the meaning ascribed to
that term in the Uniform Commercial Code of the State. If a term is defined in Article 9 of the Uniform Commercial Code of the State differently than in another Article of the Uniform Commercial Code of the State, the term shall have the meaning
specified in Article 9. 
 Section 8.11 Governing Law. 

This Mortgage shall be construed, governed and enforced in accordance with the Laws in effect from time to time in the State (without regard to
its conflict of law principles). 
 Section 8.12 Time of Essence. 

It is specifically agreed that time is of the essence as to all matters provided for in this Mortgage. 

Section 8.13 Survival of Warranties and Covenants. 

The warranties, representations, covenants and agreements set forth in this Mortgage shall survive the making of the Loan and the execution and
delivery of the Note, and shall continue in full force and effect until all of the Obligations shall have been paid and performed in full. 

Section 8.14 Forum. 

Mortgagor hereby irrevocably submits generally and unconditionally for itself and in respect of its property with respect to the Loan and this
Mortgage to the non-exclusive jurisdiction of any state court or any United States federal court sitting in the State specified in the governing law section of this Mortgage and to the non-exclusive jurisdiction of any state court or any United States federal court sitting in the state in which any of the Property is located. Mortgagor hereby irrevocably waives, to the fullest extent permitted by
Law, any objection that Mortgagor may now or hereafter have to the laying of venue in any such court and any claim that any such court is an inconvenient forum. Nothing herein shall affect the right of Mortgagee to serve process in any manner
permitted by Law or limit the right of Mortgagee to bring proceedings against Mortgagor in any other court or jurisdiction. 

Section 8.15 WAIVER OF JURY TRIAL. 

MORTGAGOR AND MORTGAGEE HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A

  
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TRIAL BY JURY IN ANY LEGAL PROCEEDING OR ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS MORTGAGE OR ANY OTHER DOCUMENT EXECUTED IN CONNECTION HEREWITH OR THE TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). 
 EACH PARTY HERETO HEREBY: 

(a) CERTIFIES THAT NO REPRESENTATIVE, AGENT, OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON
WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; 
 (b) ACKNOWLEDGES THAT THIS WAIVER AND THE PROVISIONS
OF THIS SECTION WERE A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THE LOAN DOCUMENTS; 
 (c) CERTIFIES THAT THIS WAIVER IS
KNOWINGLY, WILLINGLY, AND VOLUNTARILY MADE; 
 (d) AGREES AND UNDERSTANDS THAT THIS WAIVER CONSTITUTES A WAIVER OF TRIAL BY JURY OF
ALL CLAIMS AGAINST ALL PARTIES TO SUCH PROCEEDING OR ACTION, INCLUDING CLAIMS AGAINST PARTIES WHO ARE NOT PARTIES TO THIS OR ANY OTHER AGREEMENT, AND FURTHER AGREES THAT SUCH PARTY SHALL NOT SEEK TO CONSOLIDATE ANY SUCH PROCEEDING OR ACTION WITH ANY
OTHER PROCEEDING OR ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED; 
 (e) AGREES THAT MORTGAGOR AND MORTGAGEE ARE
EACH HEREBY AUTHORIZED TO FILE A COPY OF THIS SECTION IN ANY PROCEEDING OR ACTION AS CONCLUSIVE EVIDENCE OF THIS WAIVER OF JURY TRIAL; AND 

(f) REPRESENTS AND WARRANTS THAT SUCH PARTY HAS BEEN REPRESENTED IN THE SIGNING OF THIS MORTGAGE AND IN THE MAKING OF THIS WAIVER BY
INDEPENDENT LEGAL COUNSEL, OR HAS HAD THE OPPORTUNITY TO BE REPRESENTED BY INDEPENDENT LEGAL COUNSEL SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL. 

Section 8.16 State-Specific Provisions. 

(a) Principles of Construction. In the event of any inconsistencies between the terms and conditions of this
Section 8.16 and the terms and conditions of this Mortgage, the terms and conditions of this Section 8.16 shall control and be binding. 

= 
 (b) Statutory Power of
Sale. This Mortgage is upon the STATUTORY CONDITION and upon the further condition that all covenants and agreements of Mortgagor contained herein and in the Loan Agreement, the Note and all related documents shall be kept and fully performed,
for any breach of which Mortgagee shall have the STATUTORY POWER OF SALE. 
 Said STATUTORY CONDITION and STATUTORY POWER OF SALE, as well
as the MORTGAGE COVENANTS contained in the granting clause of this Mortgage, are those contained in the General Laws of the State of Rhode Island. Provided further however, to the extent permitted by law, publication, pursuant to said STATUTORY
POWER OF SALE, of notice of the time and place of sale may be made by publishing the same at least once each week for three (3) successive weeks in a public newspaper published daily in the City of Providence, Rhode Island, and not as otherwise
provided in said STATUTORY POWER OF SALE. 

  
 Page 20 

 (c) Future Advances; Rhode Island Open-End
Mortgage. This Mortgage permits and secures any and all current and future advances to Mortgagor evidenced by (or pursuant to) any one or more of the following: the Note, the Loan Agreement, and the other Loan Documents, such other note or notes
as may be signed by Mortgagor payable to Lender and such other agreement(s) as may be entered into by Mortgagor with Lender, and signed by Borrower. The unpaid principal balance of indebtedness outstanding under this Mortgage shall at no time exceed
Twenty-Six Million Seven Hundred Thirty-Two Thousand and 00/100 Dollars ($26,732,000.00). Borrower will accept notices pursuant to R.I.G.L. §34-25-10(B) and §34-25-11 at the address and in the manner specified in
Section 8.8 of this Mortgage. 
 Section 8.17 Entire Agreement. 

The Loan Documents constitute the entire understanding and agreement between Mortgagor and Mortgagee with respect to the transactions arising
in connection with the Loan, and supersede all prior written or oral understandings and agreements between Mortgagor and Mortgagee with respect to the matters addressed in the Loan Documents. In particular, and without limitation, the terms of any
commitment by Mortgagee to make the Loan are merged into the Loan Documents. Except as incorporated in writing into the Loan Documents, there are no representations, understandings, stipulations, agreements or promises, oral or written, with respect
to the matters addressed in the Loan Documents. 
 [Remainder of Page Intentionally Blank; Signatures Follow] 

  
 Page 21 

 IN WITNESS WHEREOF, Mortgagor has caused this Mortgage to be executed as of the date first
written above. 
  

			
	 MORTGAGOR:

	
	 ASTRONOVA, INC.,

a Rhode Island corporation

		
	 By:
	 	 /s/ Stephen Petrarca

	 Name:
	 	     Stephen Petrarca

	 Title:
	 	     VP - Operations

 STATE OF RHODE ISLAND 

COUNTY OF _Kent_________ 
 In
    W. Warwick, RI________, on this 27th day of July, 2020, before me personally appeared Stephen Petrarca __________, the _ VP - Operations______ of AstroNova, Inc., a Rhode Island corporation, to me
known and known by me to be the party executing the foregoing instrument on behalf of said corporation, and acknowledged said instrument and the execution thereof to be his/her free act and deed in said capacity and the free act and deed of said
corporation. 
  

	
	 /s/ Christine Mathias

	 Notary Public

	 Print Name_Christine Mathias_________

	 My Commission Expires_May 1, 2024__

	
	 [SEAL]

  
 Signature Page 

 Exhibit A 

Legal Description 
 Parcel I:
(Assessor’s Plat 30, Lot 46) 
 That certain tract or parcel of land, with all buildings and improvements thereon, situated southerly of East Greenwich
Avenue in the Town of West Warwick, County of Kent and State of Rhode Island, being shown and delineated as “South Plot” on that certain plan entitled, “Plan of Property and Topographical Survey for:
Atlan-Tol Industries, Inc., location West Warwick, Rhode Island, Dated April 11, 1978, by Waterman Associates as revised May 18, 1979 by John L. Flock, R.L.S. No. 1542, which plan was recorded
in the Records of Land Evidence of the Town of West Warwick Rhode Island on July 17, 1979, (the “Plan”), and bounded and described as follows: 

Beginning at a stake set in the northerly line of land now or formerly of Fenton G. Keyes Associates and in the westerly line of land now or formerly of
Joseph E. MacPhee, which point is the southeasterly corner of the parcel designated “Area = 6.00A” on that certain plan entitled, “Property to be Conveyed by Quaker Lane Investment Corp. Dated Aug. 1969 Location West Warwick, R.I. by
Robert B. Boyer Assoc.” which plan is recorded in the Records of Land Evidence of the Town of West Warwick, in Plat Book 2 at page 13, said point of beginning being the southeasterly corner of the parcel herein described; 

Thence running N. 5°-07’-29” W, bounded easterly by MacPhee land
three hundred forty-four and 68/100 (344.68) to a corner; 
 thence turning an interior angle of 91°-16’-52” and running S. 86°-09’-23” W. bounded northerly by land now or formerly of The
Industrial Foundation of Rhode Island three hundred seventy-five and 36/100 (375.36) feet to the 80’ Wide Right of Way shown on the Plan; 
 thence
turning an interior angle of 90° and running S. 3°-50’-37” E. bounded westerly by the 80’ wide Right of Way three hundred forty-four and 59/100
(344.59) feet to a corner and land now or formerly of Fenton G. Keyes Associates; 
 thence turning an interior angle of 90° and running N 86°-09’-23” E. bounded southerly by said Keyes Associates land three hundred eighty-three and 07/100 (383.07) feet to the point and place of beginning, the first
described course forming an interior angle of 88°43’-08” with the last described course. Said parcel contains 3.00 acres more or less. 

Together with the easements for utilities and parking set forth in a deed from Atlan-Tol Industries, Inc. to Rhode
Island Port Authority and Economic Development Corporation recorded in said land evidence records in Book 98 at page 528. 
 Parcel 1 is conveyed with a
right of way, in common with others, for purposes of egress and ingress to and from East Greenwich Avenue and for all purposes for which streets are commonly used, as granted and described in the deed from, “QUAKER LANE INVESTMENT CORPORATION
TO ATLANTIC TOOL COMPANY, dated December 3, 1969, and recorded in the Records of Lane Evidence in the Town of West Warwick, in Book 70 at page 427, which right of way is shown as “80’ Wide Right of Way” on the Plan
hereinabove-referred to. 

  
 Exhibit A 

 Parcel 2: (Assessor’s Plat 30, Lot 40) 

That certain tract or parcel of land, with all buildings and improvements thereon, situated southerly of East Greenwich Avenue in the Town of West Warwick,
County of Kent and State of Rhode Island and bounded and described as follows: 
 Beginning at a point in the southerly line of land now or formerly of Jeep
Spray Service, Inc. and at the northwesterly corner of land now or formerly of Joseph E. MacPhee, et ux.; 
 Thence running westerly bounding northerly on
said Jeep Spray Service, Inc. land sixty-nine and 34/100 (69.34) feet to a corner; 
 Thence turning an interior angle of
270°-00’ and running northerly bounding easterly on land of said Jeep Spray Service, Inc. ninety-five and 00/100 (95.00) feet to a corner, said corner being the southwesterly terminus of a twenty-five
(25) feet wide right of way; 
 Thence turning an interior angle of
89°-26’-43” and running westerly in a line twenty-five (25) feet southerly from and parallel with the southerly line of said East Greenwich Avenue and
bounding northerly on said right of way two hundred and 72/200 (200.72) feet to the point of curvature of a curve having a radius of one hundred (100) feet; 

Thence running westerly and southerly in the arc of said curve and bounding northerly on said right of way and westerly on land now or formerly of Fenton G.
Keyes Associates, a right of way eighty (80) feet in width, one hundred fifty-eight and 62/100 (158.62) feet to the point of tangency of said curve; 

Thence running southerly bounding westerly on land of said Fenton G. Keyes Associates two hundred seventy-six and
56/100 (276.56) feet to a corner; 
 Thence turning an interior angle of 90° and running easterly bounding southerly on land leased by Atlan-Tol Industries, Inc. three hundred seventy-five and 36/100 (375.36) feet to a corner; 
 thence turning an interior
angle of 88°-43’-08” and running northerly bounding easterly on said MacPnee land two hundred seventy-six and
82/100 (276.82) feet to the point of beginning and Containing 130,676 square feet of land, or 3 acres of land, Said last course forming an interior angle of 92°-43’ with said first course. 

Parcel 2 is conveyed together with a right of way, in common with others, for purposes of egress and ingress to and from East Greenwich Avenue and for all
purposes for which streets are commonly used, as granted and described in the deed from Ouaker Lane Investment Corporation to Atlantic Tool Company, dated December 3, 1969, and recorded in the Records of Land Evidence in the Town of West
Warwick, in Book 70 at page 427, which right of way in shown as “80” Wide Right of Way” on the Plan hereinabove referred to. 

  
 Exhibit A 

 Parcel 3: (Assessor’s Plat 30, Lots 48 and 24) 

That certain lot or parcel of land together with all buildings and improvements thereon located on the southerly side of East Greenwich Avenue in the Town of
West Warwick, State of Rhode Island bounded and described as follows: 
 Beginning at a stake set in the southerly line of East Greenwich Avenue, said point
being the northwesterly corner of the herein described parcel and the northeasterly corner of land now or formerly of Jeep Spray Service, Inc.; 
 Thence
running southerly bounded westerly by said Jeep Spray land a distance of one hundred seventeen and 06/100 (117.06) feet, more or less, to a point; 
 Thence
turning an interior angle of 270°-00’-00” and running westerly bounded northerly by said Jeep Spray land distance of thirty and 81/100 (30.81) feet to a
granite bound and land now or formerly of Rhode Island Industrial Facilities Corporation; 
 thence turning an interior angle of 87°-17’-00” and running southerly bounded westerly in part by said Rhode Island Industrial Facilities Corporation land, in part by land now or formerly of the
Rhode Island Port Authority and Economic Development Corporation and in part by land now or formerly of Fenton G. Keyes Associates a distance of six hundred seventy-two and 83/100 (672.83) feet to a granite
bound; 
 thence turning an interior angle of 93°-02’-00” and
running easterly bounded southerly by said Keyes land a distance of one hundred fifty-three and 87/100 (153.87) feet to a stake and land now or formerly of Marvin S. and Christine M. Webber; 

thence turning an interior angle of 89°-52’-00” and running
northerly bounded easterly by said Webber land a distance of three hundred four and 36/100 (304.36) feet to a pipe set n the ground; 
 thence turning an
interior angle of 186°-59’-22” and running northerly bounded easterly by said Webber land a distance of one hundred
twenty-six and 89/100 (126.89) feet more or less to a stake and land now or formerly of Carpenter Jenkins Funeral Home; 

thence turning an interior angle of 80°-43’-38” and running
westerly a distance of one hundred thirty-two and 02/100 (132.02) feet to a stake; 
 thence turning an interior
angle of 272°-06’-00” and running northerly bounded easterly by said Carpenter Jencks land a distance of three hundred sixty-three and 00/100 (363.00) feet
more or less to a stake and the southerly line of East Greenwich Avenue; 
 thence turning an interior angle of 91°-54’-21” and running westerly along the southerly line of East Greenwich Avenue a distance of forty and 02/100 (40.02) feet to the point and place of beginning, said last described course
forming an interior angle of 88° -05-39” with the first described course. 

Said parcel contains 91.928 square feet or 2.1104 acres. 

  
 Exhibit A 

 Parcel 4: (Assessor’s Plat 30, Lot 64) 

That certain tract or parcel of land with all buildings and improvements thereon, situated in the Town of West Warwick, County of Kent and State of Rhode
Island, bounded and described as follows: 
 Beginning at a point in the southerly line of East Greenwich Avenue said point being the northwesterly corner
of land now or formerly of Robert B. Everson and John MacPhee and running southerly bounded easterly by said Everson and MacPhee land 25 feet; thence turning an interior angle of 90 degrees 33’17” and running westerly in a straight line 25
feet southerly of and parallel to the southerly line of East Greenwich Avenue two hundred and one and 35/100 (201.35) feet; thence turning southwesterly along the arc of a curve (r=100.00 feet tan=101.55) one hundred fifty-eight and 62/100 (158.62)
feet; thence running southerly in a straight line parallel to and eighty (80) feet easterly of the easterly line of land now or formerly of Alfred Besson six hundred twenty-one and 15/100 (621.15) feet to
a point; thence turning an interior angle of 90 degrees and running westerly eighty and 00/100 (80.00) feet to a point; thence turning an interior angle of 90 degrees and running northerly seven hundred forty-eight and 93/100 (748.93) feet to the
southerly line of East Greenwich Avenue, this last course being bounded westerly in part by land described above and in part by land now or formerly of Alfred T. Besson; thence turning an interior angle of 89 degrees 79” and running easterly
bounded northerly by the southerly line of East Greenwich Avenue three hundred eighty-two and 91/100 (382.91) feet to the point and place of beginning, this last described course and the first described course
from an interior angle of 89 degrees 26’43”. 
 The above described parcel is shown on that certain plan entitled, “Property to be conveyed
by Quaker Lane Investment Corp. located in West Warwick, R.I. by Robert B. Boyer & Assoc.” which plan in recorded in the Land Evidence Records is the Town of West Warwick, R.I. in Plan Book 2, Page 13. 

Parcel 5: (Assessor’s Plat 30, Lot 37) 
 That certain tract
or parcel of land with all buildings and improvements thereon, situated in the Town of West Warwick, County of Kent and State of Rhode Island, bounded and described as follows: 

Beginning at a point in the southerly line of East Greenwich Avenue, said point being at a stone wall on land now or formerly of Forward Development Company,
Inc., thence southerly with said stone wall and bounding easterly on land now or formerly of Forward Development Company, Inc. five hundred ninety-seven and 00/100 (597.00) feet, more or less, to another stone wall at land now or formerly of Forward
Development Company, Inc.; thence westerly with said stone wall and bounding southerly on land now or formerly of Forward Development Company, Inc. one hundred twenty-five (125.00) feet, more or less, to a fence post, and land now or formerly of
Arthur Caron, Jr.; thence northerly in part with and bounding easterly upon said Caron land and in part with and bounding westerly upon land now or formerly of Kenneth W. Keane et ux five hundred ninety-seven (597.00) feet, more or less, to said
East Greenwich Avenue; thence easterly, bounding northerly on said East Greenwich Avenue one hundred thirty-three (133.00) feet, more or less, to the point and place or beginning. 

  
 Exhibit A 

 EXCEPTING THEREFROM SO MUCH OF THE ABOVE DESCRIBED PREMISES AS WAS CONVEYED BY DEED FROM ALFRED J. BESSON TO
ROBERT E. HOULE AND BARBARA M. HOULE, RECORDED IN BOOK 75 AT PAGE 14 OF THE WEST WARWICK LAND EVIDENCE RECORDS, more particularly bounded and described as follows: 

That certain parcel of land with all the buildings and improvements thereon, situated in the Town of West Warwick, County of Kent, State of Rhode Island,
bounded and described as follows: 
 Beginning at a point in the southerly line of East Greenwich Avenue, said point is the northwesterly corner of the
herein described property, and said point is the northeasterly corner of now or lately Kenneth W. Keane et ux; thence turning southerly bounding westerly on last named land a distance of two hundred forty (240) feet to a point; thence turning
and running easterly parallel with the southerly line of East Greenwich Avenue a distance of one hundred twenty-nine (129) feet more or less to land now or lately Quaker Lane Investment Corp. thence turning and running northerly bounding
easterly on last named land a distance of two hundred forty (240) feet to East Greenwich Avenue; thence turning and running westerly bounding northerly on East Greenwich Avenue, a distance of one hundred thirty-three (133) feet to land now
or lately of Kenneth W. Keane et ux, and the point and place of beginning. 

  
 Exhibit A

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