Document:

Research and License Agreement

 Exhibit 10.1 
 Confidential Materials omitted and filed separately with the 
 Securities and
Exchange Commission. Asterisks denote omissions. 
 RESEARCH AND LICENSE AGREEMENT 

BY AND BETWEEN 

AVEO PHARMACEUTICALS, INC. 
 AND 
 CENTOCOR ORTHO BIOTECH INC. 

 Table of Contents 

 

							
	 	  	 	  	Page	 
	 Article I DEFINITIONS
	  	 	1	  
		
	 Article II Research
	  	 	12	  
			
	 2.1
	  	Conduct of Research Program	  	 	12	  
	 2.2
	  	Research Plan	  	 	12	  
	 2.3
	  	Governance	  	 	12	  
	 2.4
	  	Record-Keeping	  	 	13	  
	 2.5
	  	Funding	  	 	13	  
		
	 Article III LICENSE GRANT
	  	 	14	  
			
	 3.1
	  	License Grants from AVEO to COBI	  	 	14	  
	 3.2
	  	Research Grant-Back from COBI to AVEO	  	 	14	  
	 3.3
	  	Sublicenses	  	 	14	  
	 3.4
	  	Responsibility	  	 	15	  
	 3.5
	  	Diligence	  	 	15	  
	 3.6
	  	Exclusivity	  	 	16	  
		
	 Article IV FINANCIAL PROVISIONS
	  	 	16	  
			
	 4.1
	  	License Fee	  	 	16	  
	 4.2
	  	Research Funding	  	 	16	  
	 4.3
	  	Milestones Payments by COBI	  	 	16	  
	 4.4
	  	Payment of Research Funding and Milestone Payments	  	 	18	  
	 4.5
	  	Royalty Payments by COBI	  	 	18	  
	 4.6
	  	Royalty Term	  	 	19	  
	 4.7
	  	Reduction for Loss of Exclusivity or Generic Competition	  	 	19	  
	 4.8
	  	Third Party Payments	  	 	19	  
	 4.9
	  	Payments; Reports	  	 	21	  
	 4.10
	  	Taxes	  	 	22	  
	 4.11
	  	United States Dollars	  	 	22	  
	 4.12
	  	Currency Exchange	  	 	22	  
	 4.13
	  	Blocked Payments	  	 	22	  
	 4.14
	  	Late Payments	  	 	23	  
	 4.15
	  	Records and Audits	  	 	23	  
		
	 Article V INTELLECTUAL PROPERTY OWNERSHIP, PROTECTION AND RELATED MATTERS
	  	 	23	  
			
	 5.1
	  	Inventorship	  	 	23	  
	 5.2
	  	Ownership	  	 	23	  
	 5.3
	  	Prosecution and Maintenance of Patent Rights	  	 	24	  
	 5.4
	  	Patent Term Extensions	  	 	25	  
	 5.5
	  	Patent Expenses	  	 	26	  
	 5.6
	  	Third Party Infringement	  	 	26	  
	 5.7
	  	Patent Invalidity Claim	  	 	27	  
	 5.8
	  	Third Party Infringement Claims	  	 	28	  

  
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	 	  	 	  	Page	 
	 Article VI CONFIDENTIALITY
	  	 	28	  
			
	 6.1
	  	Confidential Information	  	 	28	  
	 6.2
	  	Permitted Disclosures	  	 	29	  
	 6.3
	  	Publicity	  	 	29	  
	 6.4
	  	Return of Confidential Information	  	 	30	  
		
	 Article VII REPRESENTATIONS AND WARRANTIES; CERTAIN COVENANTS
	  	 	30	  
			
	 7.1
	  	Mutual Representations	  	 	30	  
	 7.2
	  	AVEO’s Representations and Warranties	  	 	31	  
	 7.3
	  	Compliance with Law	  	 	31	  
	 7.4
	  	No Warranty	  	 	31	  
		
	 Article VIII INDEMNIFICATION
	  	 	32	  
			
	 8.1
	  	Indemnification by COBI	  	 	32	  
	 8.2
	  	Indemnification by AVEO	  	 	32	  
	 8.3
	  	Indemnification Procedure	  	 	33	  
	 8.4
	  	Limitation of Liability	  	 	33	  
	 8.5
	  	Insurance	  	 	33	  
		
	 Article IX TERM AND TERMINATION
	  	 	33	  
			
	 9.1
	  	Term	  	 	33	  
	 9.2
	  	Termination for Convenience	  	 	33	  
	 9.3
	  	Termination for Cause	  	 	34	  
	 9.4
	  	Bankruptcy Termination	  	 	34	  
	 9.5
	  	Effect of Termination	  	 	34	  
	 9.6
	  	Survival	  	 	36	  
		
	 Article X DISPUTE RESOLUTION
	  	 	36	  
			
	 10.1
	  	Continuance of Rights and Obligations During Pendency of Dispute Resolution	  	 	36	  
	 10.2
	  	Referral of Unresolved Matters to Senior Executives	  	 	36	  
	 10.3
	  	Decision-Making	  	 	36	  
	 10.4
	  	Mediation	  	 	37	  
	 10.5
	  	Arbitration	  	 	38	  
		
	 Article XI MISCELLANEOUS
	  	 	40	  
			
	 11.1
	  	Governing Law and Jurisdiction	  	 	40	  
	 11.2
	  	Force Majeure	  	 	40	  
	 11.3
	  	Further Assurances	  	 	41	  
	 11.4
	  	Notices	  	 	41	  
	 11.5
	  	Assignment	  	 	42	  
	 11.6
	  	Affiliate Performance	  	 	43	  
	 11.7
	  	Amendment	  	 	43	  
	 11.8
	  	Entire Agreement	  	 	43	  
	 11.9
	  	No Benefit to Third Parties	  	 	43	  
	 11.10
	  	Waiver	  	 	43	  
	 11.11
	  	No Implied Licenses	  	 	43	  

  
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	 	  	 	  	Page	 
	 11.12
	  	Relationship of the Parties	  	 	43	  
	 11.13
	  	Severability	  	 	43	  
	 11.14
	  	Interpretation	  	 	43	  
	 11.15
	  	Counterparts	  	 	44	  

  

					
	 Exhibit A
	 	-	 	Existing AVEO Patent Rights
	 Exhibit B
	 	-	 	COBI Universal Calendar
	 Exhibit C
	 	-	 	Research Plan
	 Exhibit D
	 	-	 	Definition of RON Index
	 Exhibit E
	 	-	 	Form of Press Release
	 Exhibit F
	 	-	 	List of Existing AVEO In-Licenses
	 Exhibit G
	 	-	 	Form of Quarterly Financial Report
	 Exhibit H
	 	-	 	Form of Yearly Financial Report

  
 iii

 RESEARCH AND LICENSE AGREEMENT 

This Research and License Agreement, made this 31st day of May, 2011 (the “Effective Date”), is by and between AVEO Pharmaceuticals, Inc., a Delaware
company, with principal offices located at 75 Sidney Street, Cambridge, MA 02139 (“AVEO”) and Centocor Ortho Biotech Inc., a Pennsylvania company, with principal offices located at 800/850 Ridgeview Road, Horsham, PA 19044
(“COBI”). Each of COBI and AVEO may be referred to, individually, as a “Party”, and, collectively, as the “Parties”. 
 RECITALS 
 WHEREAS, AVEO is a biopharmaceutical company engaged in
the discovery and development of a broad pipeline of novel antibodies focused on targets that have been validated in AVEO’s proprietary in vivo tumor models, including the RON receptor; 

WHEREAS, COBI is a global pharmaceutical company interested in working with AVEO to develop antibodies to the RON receptor
leveraging AVEO’s capabilities and platform technology; 
 WHEREAS, AVEO is willing to collaborate with COBI on
certain research activities directed at discovering RON antibody therapeutics and optimizing biomarkers relevant to the RON antibody program, and to grant to COBI an exclusive license to develop and commercialize pharmaceutical products
incorporating antibodies directed at the RON receptor, on the terms and conditions set forth in this Agreement. 
 NOW,
THEREFORE, in consideration of the foregoing and the mutual covenants contained in this Agreement, AVEO and COBI, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 

When used in this Agreement, each of the following capitalized terms, whether used in the singular or plural, shall have the meaning set
forth in this Article I. 
 1.1 “Affiliate” of an entity means any person or entity which, directly or
indirectly, controls, is controlled by, or is under common control with, such entity. For the purposes of this definition, “control” refers to any of the following: (i) direct or indirect ownership of fifty percent
(50%) or more of the voting securities entitled to vote for the election of directors in the case of a corporation, or of fifty percent (50%) or more of the equity interest with the power to direct management in the case of any other type
of legal entity; (ii) status as a general partner in any partnership; or (iii) any other arrangement where a person or entity possesses, directly or indirectly, the power to direct the management or policies of an entity, whether through
ownership of voting securities, by contract or otherwise. 

  
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 1.2 “Agreement” means this Research and License Agreement, including any
and all exhibits, schedules, appendices and other addenda to it and as it may be amended from time to time in accordance with the provisions of this document. 
 1.3 “Antibody” means any [**]. 
 1.4 “[**]
Agreement” means the [**] Agreement entered into as of [**] by and between [**]. 
 1.5 “AVEO
In-Licenses” means (a) the agreements listed on Exhibit F; and (b) any agreement between AVEO and a Third Party executed during the Term pursuant to which AVEO acquires rights with respect to intellectual property that is
included in AVEO Technology or otherwise used by AVEO in the course of the Research Program to identify, research or develop a RON Antibody. 
 1.6 “AVEO Know-how” means, subject to Sections 4.8(b) and 11.5(b), any Know-how Controlled by AVEO or any of its Affiliates as of the Effective Date or at any time during the Term,
in each case to the extent such Know-how: (i) specifically relates to RON Antibodies; and (ii) is necessary or reasonably useful for the research, development, manufacture, use, import or commercialization of Licensed Product (including
all AVEO RON Models), provided, that the term “AVEO Know-how” shall not include (x) AVEO Platform Know-how or (y) any Know-how related to methods for identification, formulation, manufacturing or delivery of Antibodies to
the extent such Know-how is developed or acquired by AVEO or any of its Affiliates after the end of the Research Term independent of the Research Program. 
 1.7 “AVEO Patent Rights” means, subject to Sections 4.8(b) and 11.5(b), any and all Patent Rights Controlled by AVEO or any of its Affiliates on the Effective Date or at any time
during the Term that Cover the research, development, manufacture, use, import or commercialization of Licensed Product, provided, that the term “AVEO Patent Rights”, shall not include (i) AVEO Platform Patent Rights or
(ii) any Patent Rights Covering an invention related to methods for identification, formulation, manufacturing or delivery of Antibodies to the extent such invention is developed or acquired by AVEO or any of its Affiliates after the end of the
Research Term independent of the Research Program. The AVEO Patent Rights in existence on the Effective Date are listed on Exhibit A. 
 1.8 “AVEO Platform Know-how” means any (i) Know-How relating to proprietary-tumor models (including chimeric mouse models, directed complementation tumor models, and human-in-mouse
tumor models) and proprietary tumor cell lines, other than the AVEO RON Models; (ii) Know-how relating to proprietary bioinformatics tools; and (iii) Know-how necessary or useful to make any proprietary tumor models, tumor archives, or
tumor cell lines, or to utilize any bioinformatics tools, in each case to the extent Controlled by AVEO or any of its Affiliates as of the Effective Date or any time during the Term. 

1.9 “AVEO Platform Patent Rights” means any and all Patent Rights, except for Patent Rights covering the AVEO RON
Models, Controlled by AVEO or any of its Affiliates on the Effective Date or at any time during the Term that Cover: (i) inventions relating to proprietary-tumor models (including chimeric mouse models, directed complementation tumor

  
 2 

 
models, and human-in-mouse tumor models) and proprietary-tumor cell lines; (ii) inventions relating to proprietary bioinformatics tools; and (iii) inventions necessary or useful to make
any proprietary tumor models, tumor archives, or tumor cell lines, or to utilize any bioinformatics tools. 
 1.10 “AVEO
Platform Technology” means AVEO Platform Know-how and AVEO Platform Patent Rights. 
 1.11 “AVEO RON
Models” means all proprietary tumor models or cell lines Controlled by AVEO or any of its Affiliates that are genetically modified with respect to RON and/or macrophage stimulating protein. 

1.12 “AVEO Technology” means, collectively, AVEO Know-how and AVEO Patent Rights. 

1.13 “Business Day” means a week-day on which banking institutions in Boston, Massachusetts and New Brunswick, New
Jersey are open for business. 
 1.14 “Calendar Quarter” shall mean a calendar quarter based on the COBI
Universal Calendar for that year (a 2011 copy of which is attached as Exhibit B) and shall be updated by COBI for each Calendar Year of the Term consistent with the COBI Universal Calendar used for COBI’s internal business purposes;
provided, however, that (i) the first Calendar Quarter for the first Calendar Year shall extend from the Effective Date to the end of the then current Calendar Quarter and the last Calendar Quarter shall extend from the first day of such
Calendar Quarter until the effective date of the termination or expiration of this Agreement, and (ii) every day of a standard calendar year will be accounted for in one of the four Calendar Quarters of the COBI Universal Calendar and in a
Calendar Year of the COBI Universal Calendar. 
 1.15 “Calendar Year” shall mean a calendar year during the
Term based on the COBI Universal Calendar for that year. The last Calendar Year of the Term shall begin on the first day of the COBI Universal Calendar Year for the year during which termination or expiration of the Agreement will occur, and the
last day of such Calendar Year shall be the effective date of such termination or expiration. 
 1.16 “COBI Product
Know-how” means any Know-how Controlled by COBI or any of its Affiliates at any time which has been applied in a substantial way by COBI or any of its Affiliates or any Sublicensee to any Licensed Product or to the manufacturing process for
any Licensed Product or that relates to the composition of matter or a use of any Licensed Product, including any data generating using such Licensed Product. 
 1.17 “COBI Product Patent Rights” means any Patent Rights Controlled by COBI or any of its Affiliates at any time that Cover an invention applied in a substantial way by COBI to the
development, manufacture, marketing, sale, import or use of Licensed Product, but not including Patent Rights that Cover any invention related to the identification, formulation, manufacturing or delivery of Antibodies to the extent such invention
is developed or acquired by COBI or any of its Affiliates after the end of the Term of this Agreement. 

  
 3 

 1.18 “Combination Product” means any pharmaceutical product containing both
a Licensed Product component and one or more other significantly active pharmaceutical ingredients. 
 1.19
“Commercially Reasonable Efforts” means the level of efforts and resources, including financial resources, at least equal to those normally used by a company of the size of the Party required to exert the effort to conduct the
relevant activity, including, in the case of research, development, manufacture or commercialization, the level of effort and resources at least equal to those normally used by such a company to research, develop, manufacture or commercialize, as
the case may be, a product owned by such company or to which it has rights, which product is at a similar stage in its development or product life and is of a similar market and profitability potential to Licensed Product. 

1.20 “Confidential Information” means any Know-how provided by or on behalf of one Party or any of its Affiliates to the
other Party or any of its Affiliates in connection with this Agreement. 
 1.21 “Control” or
“Controlled”, other than for purposes of Section 1.1, means the possession of the right to grant licenses or sublicenses or to disclose proprietary or trade secret information without violating the terms of any agreement or
other arrangement with a Third Party and without misappropriating or infringing the proprietary or trade secret information of a Third Party. 
 1.22 “Cover”, “Covering” or “Covered” means, with respect to a Patent Right and invention, that, in the absence of ownership of, or a license under, such
Patent Right, the practice of such invention would infringe a claim of such Patent Right (including in the case of a Patent Right that is a patent application, a claim of such patent application as if such patent application were an issued patent).

 1.23 “CPI” means the Consumer Price Index for all Urban Consumers, Northeastern Urban
(Boston-Brockton-Nashua, MA, NH, ME, CT) City Average for all items. 1982-84=100, published by the United States Department of Labor, Bureau of Labor Statistics (or its successor equivalent index) in the United States. 

1.24 “Currency Hedge Rate” is calculated as a weighted average hedge rate of the outstanding external foreign currency
forward hedge contract(s) of Johnson & Johnson and its Affiliates with third party banks. The hedge contract(s) protects the transactional foreign exchange risk exposures of Johnson & Johnson and its Affiliates in compliance with
internal policy ensuring or establishing a systematic build up of a yearly currency hedge rate(s) (i.e. to reduce the impacts of one-off foreign currency volatility), that has proper hedge effectiveness (i.e. the hedge contract(s) is expected to be
effective in offsetting changes in the cash flow of the hedge contract(s) to changes in the cash flow related to the hedged exposure) and that is not speculative (i.e. entering into a hedge contract(s) that does not reduce the risk of loss due to
adverse currency movements and entering into hedge contract(s) associated with no underlying exposure). 
 1.25
“EMA” means the European Medicines Agency or any successor agency. 

  
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 1.26 “EU” means the countries of the European Union, as it is constituted
as of the Effective Date and as it may be expanded from time to time. 
 1.27 “FDA” means the United States
Food and Drug Administration or any successor agency thereto. 
 1.28 “Field” means the prevention, treatment,
control and diagnosis of any and all human diseases. 
 1.29 “First Commercial Sale”, as to a particular
country, means the first commercial sale of a Licensed Product by COBI or any of its Affiliates or Sublicensees to a Third Party in such country after approval of the NDA, or if approval of an NDA is not required in such country, then following
receipt of such Marketing Approval as is required to sell such Licensed Product in such country. 
 1.30 “FTE”
means a full-time equivalent person year (consisting of a total of [**] hours per year) of scientific, technical, regulatory, or professional work, undertaken by AVEO’s or its Affiliates’ employees, less standard time off pursuant to
AVEO’s or its Affiliates’ company policy for vacations, holidays, sick time and the like. 
 1.31 “FTE
Costs” means, for any period, the product of (i) the actual total FTEs used by AVEO to perform Research Program activities during such period, and (ii) the FTE Rate. 

1.32 “FTE Rate” means [**], increased annually during the Term by the percentage increase, if any, in the CPI as of
December 31 of each year over the level of CPI as of December 31 of the prior year. 
 1.33 “GAAP”
means United States generally accepted accounting principles applied on a consistent basis, or any other accounting principles generally accepted for public companies in the United States such as International Financial Reporting Standards
(“IFRS”). Unless otherwise defined or stated, financial terms shall be calculated under GAAP. 
 1.34
“Generic Competition” means, with respect to a Licensed Product in the United States, United Kingdom, Germany, France, Spain or Italy, when Net Sales of such Licensed Product in such country decrease by [**] percent ([**]%) or more
from the Net Sales of such Licensed Product in such country measured as of each of the four (4) Calendar Quarters immediately preceding the Calendar Quarter during which the entry of a Generic Product occurs in such country. 

1.35 “Generic Product” means any pharmaceutical product that meets all of the following criteria: (a) is comprised
of an Antibody that binds RON; (b) is approved pursuant to an abbreviated process that relies on the prior approval of a Licensed Product; (c) is being sold by a Third Party not authorized by COBI or any of its Affiliates or Sublicensees;
and (d) is not purchased from or manufactured by COBI or any of its Affiliates or Sublicensees. 
 1.36 “Human
Response Platform” means any Know-how related to (a) proprietary tumor models (including chimeric mouse models, directed complementation tumor models, and human-in-mouse tumor models) and proprietary-tumor cell lines, and
(b) proprietary bio-informatics tools, including the RON Index, in each case, Controlled by AVEO or any of its Affiliates as of the Effective Date or at any time during the Term. 

  
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 1.37 “IND” means an Investigational New Drug Application filed with FDA or
a similar application filed with an applicable Regulatory Authority outside of the United States such as a clinical trial application (CTA) or a clinical trial exemption (CTX). 

1.38 “Joint Research Committee” or “JRC” will have the meaning set forth in Section 2.3(a).

 1.39 “Joint Research Program IP” means Joint Research Program Know-how and Joint Research Program Patent
Rights. 
 1.40 “Joint Research Program Know-how” means any Know-how, patentable or otherwise, first
identified, discovered or developed jointly by the Parties or their Affiliates or others acting on behalf of the Parties or their Affiliates in the conduct of Research Program activities. 

1.41 “Joint Research Program Patent Rights” means any Patent Rights Controlled jointly by the Parties or any of their
Affiliates Covering inventions conceived or reduced to practice jointly in the course of the conduct of the Research Program activities. 
 1.42 “Know-how” means all information not generally known to the public, including, biological materials and other tangible materials, inventions, practices, methods, protocols, formulas,
knowledge, know-how, trade secrets, processes, procedures, specifications, assays, skills, experience, techniques, data and results of experimentation and testing, including pharmacological, toxicological, safety, stability and pre-clinical and
clinical test data and analytical and quality control data, patentable or otherwise. 
 1.43 “Lead Antibody”
means (i) any RON Antibody that has been identified by AVEO prior to the Effective Date; (ii) any RON Antibody that is a derivative of any of the Antibodies described in clause (i) identified or generated by either Party during the
first [**] months of the Research Term; (iii) any RON Antibody that is a derivative of any of the Antibodies described in clauses (i) or (ii) identified or generated anytime after the first [**] months of the Research Term but
excluding any such derivative Antibody under this clause (iii) that [**] described in clause (i) or (ii) above; and (iv) in each case under clauses (i), (ii) and (iii), any binding fragment of such RON Antibody and any such
RON Antibody or binding fragment conjugated or fused to any other polypeptide. 
 1.44 “Licensed Product” means
any product incorporating any RON Antibody. 
 1.45 “Marketing Approval” means any approval, including a
registration, license or authorization, from any Regulatory Authority required to market and sell a Licensed Product in a jurisdiction and shall include an approval, registration, license or authorization granted in connection with an NDA.

 1.46 “NDA” means a New Drug Application, Biologics License Application or equivalent submission filed with
the FDA in connection with seeking Marketing Approval of a Licensed Product, or an equivalent application filed with any equivalent regulatory agency or governmental authority in any jurisdiction other than the United States. 

  
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 1.47 “Net Sales” means the gross amount invoiced on sales of Licensed
Product in the Territory by COBI, its Affiliates and Sublicensees to any Third Party, less the following deductions calculated in accordance with GAAP and standard internal policies and procedures and accounting standards consistently applied
throughout Johnson & Johnson, to the extent specifically and solely allocated to such Licensed Product and actually taken, paid, accrued, allowed, included or allocated, based on good faith estimates, in the gross sales price with respect
to such sales (and consistently applied as set forth below): 
 (i) normal and customary trade, cash and quantity
discounts, allowances, and credits allowed or paid, in the form of deductions actually allowed with respect to sales of such Licensed Product (to the extent not already reflected in the amount invoiced and excluding commissions for
commercialization); 
 (ii) retroactive price reductions, allowances or credits actually granted upon rejections
or returns of Licensed Product, including for recalls or damaged good and billing errors; 
 (iii) discounts,
chargeback payments, rebates, and reimbursements granted to managed care organizations, group purchasing organizations or other buying groups, pharmacy benefit management companies, health maintenance organizations, federal, state/provincial, local
or other governments, and any other providers of health insurance coverage, health care organizations or other health care institutions (including hospitals), health care administrators or patient assistance or other similar programs; 

(iv) compulsory payments and cash rebates related to the sales of such Licensed Product paid to a governmental authority
(or agent thereof) pursuant to governmental regulations by reason of any national or local health insurance program or similar program, to the extent allowed and taken; including government levied fees as a result of healthcare reform policies, to
the extent such fees are specifically allocated to sales of such Licensed Product as a percentage of COBI and its Affiliates’ entire pharmaceutical product sales, but not including fees paid based on total sales or market share of prescription
products generally; 
 (v) reasonable and customary outbound freight, shipping, insurance and other
transportation expenses, if actually borne by COBI or its Affiliates or Sublicensees without reimbursement from any Third Party; 
 (vi) tariffs; duties; excise, sales, value-added and other similar taxes (other than taxes based on income); customs duties; or other government charges, in each case imposed on the sale of Licensed
Product to the extent included in the price and separately itemized on the invoice, including VAT, but only to the extent that such VAT are not reimbursable or refundable; and 

(vii) amounts previously included in Net Sales of Licensed Product that are written off as uncollectible after reasonable
collection efforts, in accordance with standard practices of the applicable party, not to exceed, in the aggregate, [**] percent ([**]%) of Net Sales in the relevant period. 

  
 7 

 All aforementioned deductions shall only be allowable to the extent they are commercially
reasonable and shall be determined, on a country-by-country basis, as incurred in the ordinary course of business in type and amount consistent with the Party’s, the Affiliate’s, or Third Party Sublicensee’s (as the case may be)
business practices consistently applied across its product lines and accounting standards and verifiable based on the Johnson & Johnson sales reporting system. All such discounts, allowances, credits, rebates, and other deductions shall be
fairly and equitably allocated to Licensed Product and other products of the Party and its Affiliates and Sublicensees such that Licensed Product does not bear a disproportionate portion of such deductions. 

Notwithstanding anything in this Agreement to the contrary, the transfer of a Licensed Product between or among COBI, its Affiliates and
Sublicensees will not be considered a sale, provided, that in the event an Affiliate or Sublicensee is the end-user of Licensed Product, the transfer of Licensed Product to such Affiliate or Sublicensee shall be included in the calculation of Net
Sales at the average selling price charged in an arm’s length sale to a Third Party who is not an Affiliate or Sublicensee in the relevant period. 
 Net Sales will include the cash consideration received on a sale and the fair market value of all non-cash consideration. 
 Disposition of Licensed Product for, or use of the Licensed Product in, clinical trials or other scientific testing, as free samples, or under compassionate use, patient assistance, or test marketing
programs or other similar programs or studies where a Licensed Product is supplied without charge shall not result in any Net Sales however if COBI or any of its Affiliates or Sublicensees charges for such Licensed Product, the amount billed will be
included in the calculation of Net Sales. 
 In the case of any sale of Licensed Product to a Third Party, other than a
Sublicensee, in a transaction that is not an arm’s length transaction, the gross invoice price included in the calculation of Net Sales with respect to such sale shall be the average selling price charged by COBI and its Affiliates and
Sublicensees in arm’s length sales to Third Parties, other than Sublicensees, in the applicable country and during the relevant period. 
 COBI agrees, and will ensure that its Affiliates and Sublicensees agree, not to use a Licensed Product as a loss leader. COBI agrees, and will ensure that its Affiliates and Sublicensees agree, that if it
prices a Licensed Product in order to gain or maintain sales of other products, then for purposes of calculating the payments due under this Agreement, the Net Sales will be adjusted to reverse any discount which was given to a customer that was in
excess of customary discounts for the Licensed Product (or, in the absence of relevant data for the Licensed Product, for other similar products under similar market conditions). If any discounts or other deductions are made in connection with sales
of Licensed Product that are bundled or sold together with other products of COBI or any of its Affiliates or Sublicensees, in no event will the discounts applied to the Licensed Product exceed the discount applied to other products of COBI, its
Affiliates or Sublicensees in such arrangement as a percentage of the respective list prices of the Licensed Product and such other products prior to applying the discount. 

  
 8 

 Net Sales will be determined from books and records maintained in accordance with GAAP,
consistently applied throughout the organization and across all products of the entity whose sales of Licensed Product are giving rise to Net Sales. 
 In the event a Licensed Product is sold in combination with other products (“Combination Product”) from Johnson & Johnson, its Affiliates or Sublicensees and the customer receives a
specific discount for such “bundling” of products (for clarity, this situation describes bundling of two or more separate products, each in finished dosage form, and not a fixed combination of two active pharmaceutical ingredients), the
Net Sales of the said Combination Product(s), for the purposes of determining royalty payments, shall be determined by multiplying the relevant Net Sales by the fraction, A/(A+B) where A is the weighted (by sales volume) average sale price in a
particular country of the Licensed Product in the previous Calendar Year when sold separately and B is the weighted average sale price in that country in the previous Calendar Year of the other products sold separately. In the event that such
average sale price cannot be determined for either of the Licensed Product(s) or the other product(s) it has been sold with, in combination, for purposes of determining the royalty payments, the bundling discount granted shall be considered as
having been granted in its entirety with respect to the other product(s) only and shall not be applied to the sales of any product(s). 
 1.48 “[**] Declaration” means the earlier of (i) a decision by COBI or any of its Affiliates or Sublicensees to select a RON Antibody for entry into any [**], as defined in the next
sentence, and (ii) the identification of a cell line expressing a RON Antibody that achieves the PDMS Internal Cell Line Criteria, provided that, a [**] Declaration will be deemed to have occurred even if the cell line for the RON Antibody fails to
achieve all of the PDMS Internal Cell Line Criteria if COBI makes an internal determination according to its established procedures designating such RON Antibody as an [**] despite such failure. For purposes of this definition, “[**]”
include [**] other [**], the results of which are required for [**], and will also mean, alternatively, commencement of [**] necessary to obtain the [**]. Without limiting the foregoing, an [**] Declaration as to an Antibody shall be deemed to have
occurred no later than the [**] or [**] of such Antibody. 
 1.49 “Patent Rights” means patents and patent
applications and all substitutions, divisions, continuations, continuations-in-part, reissues, reexaminations, supplemental protection certificates and extensions and the like thereof, and all counterparts thereof in any country. 

1.50 “PDMS Internal Cell Line Criteria” shall mean the cell line (i) is capable of greater than [**] production in a
[**] at a [**] scale; (ii) is stable for over [**] sufficient to support [**] production, with [**] times less than [**] hours and [**] greater than [**] percent ([**]%); and (iii) produces [**] material (1) with greater than or equal to [**]
percent ([**]%) of RON Antibody in [**] as assessed by [**], (2) with greater than or equal to [**] percent ([**]%) purity of RON Antibody after [**] as assessed by reduced [**] and [**], (3) that has been characterized by [**] and intact LC/MS, (4)
that contains no significant [**], and (5) that has bioactivity comparable to [**]. 
 1.51 “Phase 1 Clinical
Trial” means a human clinical trial that is intended to initially evaluate the safety and/or pharmacological effect of Licensed Product or that would otherwise satisfy the requirements of 21 C.F.R. 312.21(a) or an equivalent clinical trial
in a country in the Territory other than the United States. 
 1.52 “Phase 2 Clinical Trial” means a human
clinical trial, for which the primary endpoints include a determination of dose ranges or an indication of efficacy in patients being studied as described in 21 C.F.R. §312.21(b), or an equivalent clinical trial in a country in the Territory
other than the United States. 
 1.53 “Phase 3 Clinical Trial” means a human clinical trial that is
prospectively designed, along with other Phase 3 Clinical Trials, to demonstrate statistically whether a product is safe and effective for use in humans in the indication being investigated as described in 21 C.F.R. §312.21(c), or an
equivalent clinical trial in a country in the Territory other than the United States. 

  
 9 

 1.54 “Proof of Concept” means an indication of efficacy in patients being
studied. 
 1.55 “R&D Costs” means, for any period, the sum of (i) FTE Costs and (ii) all
out-of-pocket Third Party costs incurred by AVEO and its Affiliates during such period in the performance of Research Program activities, including microarrays and mouse acquisition costs. 

1.56 “Regulatory Authority” means any federal, national, multinational, state, county, city, provincial, or local
regulatory agency, department, bureau or other governmental entity with authority over the marketing, commercialization, manufacture or sale of a pharmaceutical product in the Territory, including the FDA in the United States and the EMA in the EU.

 1.57 “Research Plan” means the written plan, including the budget, for the conduct of the Research Program,
the initial version of which is attached to this Agreement as Exhibit C, as modified from time to time during the Research Term in accordance with this Agreement. 
 1.58 “Research Program” means the conduct, during the Research Term of certain RON-related research activities aimed at: (i) the identification of pharmacodynamic and predictive
biomarkers; (ii) the investigation of potential clinical indications; (iii) the generation of tumor models; (iv) the evaluation of mechanism-based drug combinations; (v) the identification and characterization of RON Antibodies,
which may include the identification of back-up Antibodies to the Lead Antibody; (vi) production cell line development; and (vii) development of a robust mechanism of action-related functional bioassay amenable to being adapted as a
release assay. 
 1.59 “Research Term” means the period commencing on the Effective Date and ending on the
third anniversary of the Effective Date, unless extended by mutual agreement of the Parties or earlier terminated by mutual agreement of the Parties or termination of this Agreement under Article IX. 

1.60 “RON” means Recepteur d’Origine Nantais. 

1.61 “RON Antibody” means an Antibody that binds RON, and that (i) has been identified by AVEO prior to the
Effective Date; (ii) is identified by either Party and demonstrated to bind RON during the Research Term; or (iii) is generated or developed by or on behalf of COBI or any of its Affiliates or Sublicensees during the Term outside of the
Research Program activities, but derived from any Antibody described in clauses (i) or (ii), including, in each case of clauses (i), (ii) or (iii), any humanized, primatized, chimerized, or Fc-modified version, any binding fragment of any
of the foregoing, or any such Antibody or binding fragment of such Antibody conjugated or fused to any other polypeptide. 

1.62 “RON Index” means the list of [**] set forth in Exhibit D, and any [**]. 

1.63 “RON Model Improvement” means any Know-how, whether or not patentable, developed by or on behalf of COBI or any of
its Affiliates or Sublicensees that constitutes an improvement to any AVEO RON Model disclosed by AVEO or any of its Affiliates to COBI. 

  
 10 

 1.64 “RON Model Improvement Patent Rights” means Patent Rights owned or
Controlled by COBI or any of its Affiliates or Sublicensees Covering any invention that falls within the definition of RON Model Improvement. 
 1.65 “Royalty Term” has the meaning set forth in Section 4.6. 
 1.66 “Specified Third Party License” has the meaning set forth in Section 4.8(c). 
 1.67 “Specified Third Party Patent Rights” shall mean [**], including any continuations, continuations-in-part (except as to new matter added after the Effective Date); divisions,
reissues, reexaminations, extensions (including any supplemental patent certificate) and all foreign counterparts of any of the foregoing 
 1.68 “Sublicensee” means a Third Party to whom COBI or any of its Affiliates or another Sublicensee grants an express or implied sublicense under all or part of the AVEO Technology or
Joint Research Program IP to develop, manufacture, commercialize or use Licensed Product in the Field. 
 1.69
“Term” means the term of this Agreement determined in accordance with Section 9.1. 
 1.70
“Territory” means worldwide. 
 1.71 “Third Party” means any person other than a Party or any
of its Affiliates or their respective employees. 
 1.72 “Third Party Payments” means all royalties, upfront
fees, milestones and other payments paid by COBI or any of its Affiliates or Sublicenses to Third Parties specifically to acquire a license to intellectual property that is necessary for the development, manufacture, import, sale or use of Licensed
Product in the Field, but not including amounts paid under the AVEO In-licenses. 
 1.73 “United States” or
“U.S.” means the United States of America and its territories and possessions. 
 1.74 “Valid
Claim” means (i) a claim of an issued and unexpired patent that has not been revoked or held unenforceable or invalid by a decision of a court or other governmental agency of competent jurisdiction from which no appeal can be taken or
with respect to which an appeal is not taken within the time allowed for appeal, and that has not been disclaimed or admitted to be invalid or unenforceable through reissue, disclaimer or otherwise or been dedicated to the public, and (ii) a
claim in a pending patent application that is being prosecuted for no more than [**] years and that has not been abandoned, disclaimed, allowed to lapse or finally determined to be unallowable by the applicable governmental authority in a decision
from which no appeal can be taken or from which no appeal is taken within the time allowed for appeal. 

  
 11 

 ARTICLE II 
 RESEARCH 
 2.1 Conduct of Research Program. During the Research
Term, each Party will use Commercially Reasonable Efforts to conduct the activities which are assigned to such Party under the then-current Research Plan and this Agreement. 
 2.2 Research Plan. The initial Research Plan is attached as Exhibit C which includes a mutually agreed, committed budget of FTE Costs and an estimate for out-of-pocket Third Party
costs. On or before September 30, 2011, and each September 30 thereafter during the Research Term, the JRC shall prepare annual updates to the Research Plan, which shall include a committed budget of FTE Costs and an estimate for
out-of-pocket Third Party costs for the next Calendar Year that is mutually agreed by the Parties. For sake of clarity, the budget of FTE Costs for any Calendar Year of the Research Plan may not be amended, unless otherwise mutually agreed by the
Parties. Subject to the preceding sentence and to Sections 2.3(d) and 10.3, at any time during the Research Term, the JRC may periodically review the Research Plan, and prepare and approve any updates to the Research Plan. For the sake of
clarity, if the JRC cannot agree on a revised Research Plan, then the Parties will resolve the dispute pursuant to Section 10.3. 
 2.3 Governance. 
 (a) Formation. Within [**] days
after the Effective Date, the Parties will form a committee (the “Joint Research Committee” or “JRC”) comprising at least [**] representatives from each Party or such other number, maintaining equal representation,
as the Parties mutually agree. The JRC will remain in existence during the Research Term. Each member appointed by a Party will have relevant expertise and an appropriate level of decision-making authority within such Party’s organization to
fulfill the role of the JRC. Each Party may change one or more of its representatives to the JRC at any time or upon written notice to the other Party. From time to time the JRC may, in its discretion, establish one or more subcommittees or project
teams to coordinate and monitor particular projects or activities over which the JRC has authority, as the JRC deems necessary or advisable. Each subcommittee will report to the JRC and, unless otherwise agreed upon by the JRC, the provisions of
this Section 2.3 will apply to each subcommittee to the same extent as these provisions apply to the JRC. 

(b) Responsibilities. The JRC will be responsible for: 

(i) reviewing, coordinating and monitoring Research Program activities and the status and progress of efforts in the
conduct of the Research Program; 
 (ii) reviewing the status and progress of COBI’s other research and
development activities related to Licensed Product; 
 (iii) subject to paragraph (d) and Section 10.3,
amending the Research Plan; 

  
 12 

 (iv) serving as a forum for an exchange and discussion of the results of the
Research Program and of COBI’s other research and development activities related to Licensed Product; and 

(v) discussing other matters related to this Agreement referred to it by agreement of the Parties. 

(c) Meetings. The Joint Research Committee shall hold its first meeting, in person, within thirty (30) days
after the Effective Date. The JRC will meet on a [**] basis, or at such other frequency as the Parties mutually agree, in person or by telephone at mutually acceptable times and locations. Prior to each [**] meeting of the JRC, each Party will
prepare and deliver to the other Party a report of the status and results of its Research Program activities and, to the extent not covered by a confidentiality obligation owed to any Third Party, a report on any other activities related to protein
antagonists of RON and, in the case of COBI, a report on COBI’s other activities related to the research and development of Licensed Products since the last report. Each report delivered under the preceding sentence will be in a format mutually
agreed upon by the Parties. A representative of COBI shall serve as the chairperson of the JRC. The chairperson will be responsible for leading meetings, but will otherwise have no greater authority on the JRC than any other member. A JRC member
designated by AVEO will serve as secretary of the meetings of the JRC. The secretary will be responsible for promptly preparing and distributing to all members of the JRC draft minutes of meetings for review and comment, including a list of all
actions and decisions approved by the JRC. The minutes of each meeting of the JRC will be formally approved by the JRC at its next regularly scheduled meeting. Each Party will use reasonable efforts to cause its representatives to attend meetings of
the JRC. In addition, each Party may, at its discretion, invite a reasonable number of non-member employees, and, with the consent of the other Party, consultants and scientific advisors, to attend meetings of the JRC or the relevant portion
thereof; provided, that any such consultants and scientific advisors are bound by written obligations of confidentiality and restrictions on use of Confidential Information at least as stringent as those set forth in Article VI. During the
Research Term the working groups from each Party will hold informal update meetings, in person or by videoconference or teleconference, on a monthly basis, which such meetings shall be in addition to the JRC meetings held under this
Section 2.3(c). 
 (d) Decision-making. Each Party will have one vote on the JRC. Any action by the
JRC will require unanimous vote. No vote will be taken without at least one member of each Party present. In the event of dispute, the terms of Article X will apply, except that, in the event the JRC cannot agree on an amendment to the Research
Plan then the then current Research Plan will remain in effect until the dispute is resolved pursuant to the remaining dispute resolution provisions of Article X. 
 2.4 Record-Keeping. Each Party shall maintain complete and accurate records of the work performed under the Research Plan in laboratory notebooks in sufficient detail and in a good scientific
manner appropriate for patent and regulatory purposes. 
 2.5 Funding. Funding for the Research Plan will be provided by
COBI in accordance with Section 4.2. 

  
 13 

 ARTICLE III 
 LICENSE GRANT 
 3.1 License Grants from AVEO to COBI. 

(a) AVEO Technology. Subject to the terms and conditions of this Agreement, including Section 3.2, AVEO hereby
grants to COBI an exclusive royalty-bearing license (or sublicense, as the case may be) under AVEO Technology and AVEO’s interest in Joint Research Program IP (with the right to grant sublicenses) to research, develop, make, have made, use,
import, export, market, offer for sale, sell and have sold, Licensed Product in the Territory within the Field. 

(b) Sublicense Under [**] Agreement. Subject to the terms and conditions of this Agreement and in lieu of
the rights granted under Section 3.1(a), AVEO hereby grants to COBI a sublicense under the licenses granted to AVEO under Sections 2.1 and 3.2 of the [**] Agreement pursuant to the sublicensing right specified in Section 4.4(c) of the [**]
Agreement, to research, develop, make, have made, use, import, export, market, offer for sale, sell and have sold Licensed Products in the Territory within the Field under any Know-how or Patent Rights licensed to AVEO under the [**] Agreement,
provided, that notwithstanding anything in this Agreement to the contrary (i) neither the sublicense granted in this Section 3.1(b) nor the rights granted under Section 3.1(a) include the right under any Know-how or Patent Rights
licensed to AVEO under the [**] Agreement to [**]. 
 (c) RON Index. Subject to the terms and conditions
of this Agreement, AVEO hereby grants to COBI and its Affiliates a fully paid-up, non-exclusive license, without the right to grant sublicenses, to use the RON Index as a biomarker for the identification of patients more likely or less likely to
benefit from use of Licensed Product, in connection with development and commercialization of Licensed Product under this Agreement. 
 3.2 Research Grant-Back from COBI to AVEO. Subject to the terms and conditions of this Agreement, COBI hereby grants to AVEO and its Affiliates a fully paid-up non-exclusive sublicense under the
rights to AVEO Technology and AVEO’s interest in Joint Research Program IP granted to COBI under Section 3.1, and under COBI’s interest in Joint Research Program IP (without the right to grant sublicenses), solely for (i) the
conduct Research Program activities during the Research Term; and (ii) subject to Section 3.6, for any other research purposes. 
 3.3 Sublicenses. 
 (a) Sublicensing. The rights
granted to COBI by AVEO under Section 3.1(a) and 3.1(b) may be extended or sublicensed to an Affiliate or sublicensed, in whole or in part, to a Third Party (through one level of sublicensing for a Third Party only). COBI will, within [**] days
after signature, provide AVEO with a copy of each agreement with a Sublicensee executed by COBI or any of its Affiliates, provided COBI will be entitled to redact any terms that do not relate to the sublicense of AVEO Technology. Permitted
Sublicensees may extend the rights granted under Section 3.1(a) and 3.1(b) to any of their Affiliates. 

  
 14 

 (b) Performance by Sublicensees. COBI will be fully responsible for
performance by each Sublicensee of its obligations under this Agreement. Each sublicense granted by COBI pursuant to this Section 3.3 will contain terms and conditions consistent with this Agreement. Without limiting the foregoing, each
sublicense agreement will contain the following provisions: (i) a requirement that any Sublicensee selling Licensed Product submit applicable sales or other reports to COBI to the extent necessary or relevant to the reports required to be made
or records required to be maintained under this Agreement; (ii) an audit requirement as to those Sublicensees selling Licensed Product consistent with that set forth in Section 4.15; (iii) a requirement that such Sublicensee comply
with the confidentiality provisions and restrictions on use with respect to Confidential Information of AVEO consistent with Article VI; and (iv) an obligation of the Sublicensee to assign RON Model Improvements and RON Model Improvement
Patent Rights to COBI for further assignment to AVEO under Section 5.2, and an automatic license to COBI, upon termination of this Agreement, with the right to grant a further license to AVEO, to any Know-how and under any Patent Rights that
fall under the definition of COBI Product Know-how or COBI Product Patent Rights when Controlled by COBI. If COBI becomes aware of a material breach by a Sublicensee of the rights granted to COBI, or the obligations of COBI or a Sublicensee under
this Agreement, COBI will promptly notify AVEO in writing of the particulars of the same, and will use Commercially Reasonable Efforts to enforce the terms of such sublicense. 
 3.4 Responsibility. Except for activities to be conducted by AVEO under the Research Plan, COBI will, including through its Affiliates and Sublicensees, have sole responsibility for research,
development, manufacture, marketing, sale and use of Licensed Product in the Field, and will be responsible for all of its costs and expenses associated with such activities. 
 3.5 Diligence. 
 (a) Commitment. COBI will prepare
and deliver to AVEO (i) within [**] days of [**], a development plan for the Licensed Product, which shall include clinical and registration timelines; and (ii) no later than [**], a commercialization plan, for the Licensed Product in the
U.S. and EU, which shall include commercialization timelines. COBI will use Commercially Reasonable Efforts during the Term to develop, manufacture and obtain Marketing Approval for, and commercialize a Licensed Product in a [**] indication
throughout the U.S. and EU, and to meet the development and commercialization timelines set forth in the development and commercialization plans furnished to AVEO pursuant to the first sentence of this Section 3.5(a). For the sake of clarity,
COBI will have met its obligation to use Commercially Reasonable Efforts to develop, manufacture and obtain Marketing Approval for [**] Licensed Product upon approval of the [**] Licensed Product in the [**] indication. In addition, in the course of
obtaining Marketing Approval, COBI will use Commercially Reasonable Efforts to secure regulatory, data and market exclusivity for each Licensed Product for which Marketing Approval is obtained to the extent available from the applicable Regulatory
Authorities. COBI agrees to register this Agreement with any foreign governmental agency, which requires such registration and where the failure to so register would have a material adverse impact on commercialization of Licensed Product in a major
market, and COBI shall pay all costs and legal fees in connection therewith. COBI shall not be relieved of any of its obligations under this Agreement by any failure to register this Agreement in any country, and, specifically, shall not be relieved
of its obligation to make any payment due to AVEO where such payment is blocked due to any failure to register this Agreement. 

  
 15 

 (b) Update Meeting. At least once each Calendar Year during the Term
until first Marketing Approval of a [**] Licensed Product for the [**] indication, one or more members of the internal program team at COBI with responsibility for development of Licensed Product will meet in person with representatives of AVEO at
COBI facilities for a formal update meeting during which COBI will present to AVEO the status and results to date of research and development activities related to Licensed Product. At each such meeting, COBI shall present its then current
development plan, including the anticipated timelines for the activities under such plan. 
 (c) Status
Reports. COBI will provide to AVEO a written report, on a semi-annual basis during the Term, describing, in detail, activities undertaken by COBI, its Affiliates and Sublicensees in compliance with paragraph (a), the results achieved since
the last report and activities planned for the subsequent semi-annual period. In addition, COBI shall respond to reasonable requests from AVEO for additional information as to COBI’s progress and results with respect to efforts conducted under
paragraph (a). 
 3.6 Exclusivity. Subject to Section 11.5(c), during the period commencing on the Effective
Date and ending [**] years after [**] neither Party nor any of its Affiliates or their respective sublicensees of development rights will, except for activities conducted under this Agreement, develop any therapeutic product [**]. 

ARTICLE IV 

FINANCIAL PROVISIONS 
 4.1 License Fee. Within ten (10) days of the Effective Date, COBI will pay to AVEO a non-creditable, non-refundable license fee of $7,500,000. 

4.2 Research Funding. COBI shall fund all R&D Costs incurred by AVEO in the conduct of the Research Program pursuant to the
Research Plan. During the Research Term, AVEO shall report its actual R&D Costs within [**] days after the end of each month. Within [**] days of the end of each month, AVEO shall provide an invoice to COBI for R&D Costs incurred in such
month. COBI shall pay to AVEO the amounts shown on each invoice upon receipt thereof as set forth in Section 4.4. 
 4.3
Milestones Payments by COBI. Subject to the terms and conditions of this Agreement, COBI will pay to AVEO the following milestone payments as set forth in Section 4.4 after the occurrence of the corresponding event as set forth in this
Section: 
 (a) [**]. Upon the [**] with respect to the first Licensed Product, COBI will pay AVEO a fee of
$[**]. 

  
 16 

 (b) Once Per Product. The following milestone payments will be made
only upon the first occurrence of the following events with respect to each Licensed Product, and shall not be paid on any subsequent occurrence of the same event with respect to the same Licensed Product, except that the milestone payments under
clauses (iii) and (iv) below will both be due even if the same [**] is the basis for achievement of each milestone: 
  

			
	 Event Milestone
	  	Event Payment
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]

 For purposes of Section 4.3(b)(v), [**] shall mean the [**].

For purposes of Section 4.3(b)(vi), [**] shall mean [**]. 
 If any milestone set forth in Section 4.3 is achieved with respect to a Licensed Product prior to the achievement of an earlier milestone for such Licensed Product, then all milestone payments due
and payable for the earlier milestone shall be due and payable simultaneously with the payment for achievement of the later milestone event. 
 (c) Marketing Approval and First Commercial Sale. The following milestone payments will be made upon the first occurrence of the following events with respect to the [**] indications (for example,
colorectal, pancreatic, non-small cell lung, esophageal or gastric cancer) for each Licensed Product: 
  

					
	 Event Milestone
	  	Event Payment
for First
Indication	 	Event Payment
for [**] Indication
(per Indication)
	 [**]
	  	[**]	 	[**]
	 [**]
	  	[**]	 	[**]
	 [**]
	  	[**]	 	[**]

 (d) Commercial Milestones. COBI will pay to AVEO the following commercial milestone
payments upon the first achievement of the corresponding event with respect to each Licensed Product: 
  

			
	 Calendar Year Net Sales of Licensed Product in North America
	  	Payment
	 First achievement of Calendar Year Net Sales in excess of $[**]
	  	[**]
	 First achievement of Calendar Year Net Sales in excess of $[**]
	  	[**]
	 First achievement of Calendar Year Net Sales in excess of $[**]
	  	[**]

  
 17 

			
	 Calendar Year Net Sales of Licensed Product Outside of North America
	  	Payment
	 First achievement of Calendar Year Net Sales in excess of $[**]
	  	[**]
	 First achievement of Calendar Year Net Sales in excess of $[**]
	  	[**]
	 First achievement of Calendar Year Net Sales in excess of $[**]
	  	[**]

 (e) Reduction for Back-ups. Notwithstanding anything in this Agreement to the
contrary, in the event the Licensed Product that is the subject of the payment obligations in this Section 4.3 does not [**], the relevant payment owed to AVEO under this Section 4.3 will be reduced by [**] percent ([**]%). 

(f) Notice of Milestone Achievement. COBI will provide written notice to AVEO within [**] days of each achievement
of a development milestone (Sections 4.3(a), (b) and (c)) and within [**] days of each achievement of a commercial milestone (Section 4.3(d)) for which a payment is due to AVEO under this Section 4.3. 

4.4 Payment of Research Funding and Milestone Payments. Payments under Sections 4.2 and 4.3 shall be payable to AVEO within [**]
days from the date an invoice is received by COBI provided that any invoiced R&D Costs are for services that have been rendered and any deliverables subject to the invoice have been received by COBI. All invoices must reference a valid Purchase
Order (PO) Number which COBI shall provide to AVEO within [**] days [**] days after the Effective Date and invoices shall include the nature and amount of research and development services rendered or deliverables provided. Invoices must be sent to
the Johnson & Johnson Accounts Payable Department via www.ap.jnj.com if AVEO establishes a web invoice account or sent by postal mail to the address indicated on the PO. AVEO can contact the Johnson & Johnson Accounts Payable
Hotline at 877-557-4487 with any questions related to the status of payments on invoices. Copies of all invoices shall be sent concurrently to the Antibody Drug Discovery Project Coordinator at Johnson & Johnson Pharmaceutical
Research & Development, L.L.C., 145 King of Prussia Road, Radnor, PA 19087. COBI reserves the right to return to AVEO unprocessed and unpaid those invoices that do not reference the applicable PO Number. 

4.5 Royalty Payments by COBI. 
 (a) Royalty Rate. Subject to the adjustment, if any, to be made under Sections 4.5(b), 4.7, 4.8(c) and 4.8(d), COBI will pay to AVEO royalties on Net Sales of each Licensed Product in the
Field in the Territory by COBI and its Affiliates and Sublicensees, calculated using the following royalty rates: 
  

			
	 Portion of Calendar Year Net Sales
(Per Licensed Product)
	  	Royalty Rate
	 First $[**] of Calendar Year Net Sales in the Territory for each Licensed Product
	  	[**]%

  
 18 

			
	 Portion of Calendar Year Net Sales
(Per Licensed Product)
	  	Royalty Rate
	 On that portion of Calendar Year Net Sales greater than $[**] but less than $[**] in the Territory for each Licensed
Product
	  	[**]%
	 On that portion of Calendar Year Net Sales equal to or greater than $[**] but less than or equal to $[**] in the Territory for
each Licensed Product
	  	[**]%
	 On that portion of Calendar Year Net Sales greater than $[**] in the Territory for each Licensed Product
	  	[**]%

 (b) Reduction for Back-Ups. Notwithstanding anything in this Agreement to the
contrary, in the event the relevant Licensed Product does not [**], the royalty rates specified in Section 4.5(a) as to such Licensed Product will be reduced by [**] percent ([**]%). 

4.6 Royalty Term. Royalties under Section 4.5 will be payable on a country by country and Licensed Product-by-Licensed
Product basis during the period commencing on the First Commercial Sale of such Licensed Product in such country and ending upon the latest to occur of (i) the date of expiration or determination of unenforceability or invalidation (from which
no appeal can be taken) of the last Valid Claim of an AVEO Patent Right or Joint Research Program Patent Right Covering an Antibody composition of matter or method of use with respect to such Licensed Product in the country of sale;
(ii) expiration of any protective data or marketing exclusivity applicable to such Licensed Product in the country of sale; and (iii) ten (10) years from the date of First Commercial Sale in such country (the “Royalty
Term”). Upon expiration of the Royalty Term, in the country of sale, the license granted to COBI and its Affiliates and Sublicenses under Article III will convert to a fully paid-up, non-royalty-bearing, nonexclusive license in such
country. 
 4.7 Reduction for Loss of Exclusivity or Generic Competition. The royalties payable under Section 4.5
with respect to Net Sales of a Licensed Product in a country will be reduced, on a country by country and Licensed Product-by-Licensed Product basis, by [**] percent ([**]%) of the amounts otherwise payable under Section 4.5, during any portion
of the Royalty Term when criteria (i) and (ii) are met: (i) there is no Valid Claim within AVEO Patent Rights Covering such Licensed Product in such country; and (ii) there is no other protective data or marketing exclusivity
covering Licensed Product in such country; or there is Generic Competition with respect to such Licensed Product in such country. 
 4.8 Third Party Payments. 
 (a) [**] Payments. COBI
shall pay to AVEO the amount of all royalties due under the [**] Agreement to the extent such payments relate to Licensed Product (the “[**] Payments”). COBI shall pay to AVEO [**] percent ([**]%) of all milestone payments due under
Schedule 2 (g)-(l) of the [**] Agreement to the extent such payments relate to Licensed Product. For sake of clarity, [**] payments in Schedule 2 (a)-(f) of the [**] Agreement shall not be

  
 19 

 
considered [**] Payments. COBI will have the right to deduct from royalties otherwise payable to AVEO under Section 4.5, [**] percent ([**]%) of the [**] Payments made in the relevant
period, provided that, except under the circumstances described in the first sentence of Section 4.8(c)(iv), in no event will the royalty payable to AVEO on Net Sales of Licensed Product be reduced as a result of the aggregate effect of the
application of this paragraph and the deductions under Sections 4.5(b), 4.7, 4.8(c) and 4.8(d), to less than [**] percent ([**]%) of the royalty amounts calculated at the rates set forth in Section 4.5(a). 

(b) Other AVEO In-licenses. COBI will, in addition to the amounts payable under Section 4.8(a), pay to AVEO
the amount of all milestones and other payments due under any AVEO In-licenses other than the [**] Agreement that are triggered by the development, manufacture, use or sale of Licensed Product. Notwithstanding the foregoing, except with respect to
AVEO In-licenses existing on the Effective Date, COBI may decline rights under the relevant AVEO In-licenses in which case (i) the relevant Know-how and Patent Rights shall no longer be treated as AVEO Know-how, AVEO Patent Rights and AVEO
Technology, including for purposes of the license granted under Section 3.1, and (ii) the provisions of this Section 4.8(b) shall no longer apply to such AVEO In-license. 

(c) Specified Third Party Patent Rights. 

(i) If COBI [**] of any Specified Third Party Patent Rights of such Third Party in [**], COBI shall promptly notify AVEO,
and the Parties shall consult in good faith to determine the appropriate action to be taken in relation to [**]. If the Parties mutually agree that a [**], COBI shall have the [**] under the Specified Third Party Patent Rights that are the subject
of the [**] as necessary for COBI and its Affiliates to [**] the [**] that is the subject of the [**]. AVEO shall have the right, but not the obligation, at its own expense, to [**] and to be independently represented by counsel of AVEO’s own
choice. COBI shall [**] any [**] with such Third Party in co-operation with AVEO, and shall not [**] without the prior written consent of AVEO, such consent not to be unreasonably withheld or delayed. 

(ii) In the event that Parties agree to the terms of a [**] and COBI is [**] pursuant to such [**] with respect to the
[**], including [**] or [**] related to such [**] or [**] on [**] of such [**], the following provisions and [**] (the [**]) will apply: 
 (x) AVEO shall [**] of any [**] (such [**] to be in the form of a [**] to AVEO or, if not sufficient, an [**] with respect to [**] of the relevant Licensed Product after the effective date of the [**]
provided that, the [**] under this Section 4.8(c)(ii)(x) shall not exceed [**] percent ([**]%) of the [**], excluding purchases of AVEO equity, (1)[**] pursuant to Sections 4.1 and 4.3, and (2) [**] prior to the effective date of the [**] under
Section 4.5; and 
 (y) COBI may [**] percent ([**]%) of [**] paid under a [**] of a Licensed Product after the
effective date of a [**] against [**] of Licensed Product under Section [**], provided, that in no event will the [**] to AVEO on [**] of such Licensed Product be [**] as a result of the foregoing [**] to less than [**] percent ([**]%) of the [**]
set forth in Section [**]. For the sake of clarity, COBI will not have the right to [**] are not used under the preceding sentence because of the [**]. 
 (iii) If either Party does not [**] of a [**], then AVEO will [**] the COBI [**] (as defined in Section [**] (as defined in Section [**] in connection with any [**] to the extent [**] out of or [**] by
AVEO in the [**]; provided that, (A) AVEO shall [**], at its [**], the [**] of the [**]; (B) COBI will, at AVEO’s request and expense, [**]; (C) COBI may, at COBI’s option and expense, be [**], subject to AVEO’s right to [**] and
[**], and provided COBI will not have the right to [**] of AVEO; (D) AVEO will not [**] without COBI’s prior written consent, not to be unreasonably withheld; and (E) AVEO’s [**] will be subject to the [**] provisions and [**] set forth in
Section [**], as modified by [**] below. Notwithstanding anything in this Agreement to the contrary, COBI will not be entitled to [**] for any [**] covered by [**]. 

(iv) Notwithstanding anything in this Agreement to the contary, in the event AVEO is the Party that [**], and the [**]
resulting from [**] or [**] of any [**] under Section [**] exceed the amount that was [**] then the [**] will not apply to the [**], provided that (x) in no event will the aggregate [**] to be [**] the [**] this Agreement, and (y) in no event will
the [**] as a result of the aggregate effect of the application of this paragraph and the [**] under Sections [**] to [**] than the amount that [**]. In the event COBI is the Party that [**], and there is a [**], then notwithstanding anything
in this Agreement to the contrary, COBI will be [**] of the [**] without any right of [**], and AVEO [**] under this Agreement [**]. 
 (d) Other Third Party Payments. COBI will be responsible for all amounts payable to Third Parties, to the extent not already covered by Sections 4.8(a), (b) or (c) for rights necessary,
in COBI’s reasonable opinion, to develop, manufacture, use, sell or otherwise commercialize Licensed Product in the Field. COBI will have the right to deduct from royalties otherwise payable to AVEO under Section 4.5, [**] percent ([**]%)
of Third Party Payments made under this Section in the relevant period, provided that, except under the circumstances described in the first sentence of Section 4.8(c)(iv), in no event will the royalty payable to AVEO

  
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on Net Sales of Licensed Product be reduced as a result of the aggregate effect of the application of this paragraph and the deductions under Sections 4.5(b), 4.7, 4.8(a) and 4.8(c), to less
than [**] percent ([**]%) of the royalty amounts calculated at the rates set forth in Section 4.5(a). 
 4.9 Payments;
Reports. 
 (a) For the duration of the Agreement, and commencing with the First Commercial Sale of Licensed
Product in the Territory, COBI shall furnish to AVEO written reports (hereinafter the “Quarterly Financial Report”), in the form specified in Exhibit G, within [**] calendar days following the end of each Calendar Quarter,
for which royalties are due, showing with respect to the United States, France, United Kingdom, Italy, Germany, Spain and the rest of the Territory as a total: (i) the Net Sales in local currency of all Licensed Products sold during the
relevant Calendar Quarter and Net Sales in United States Dollars (USD) translated from local currency using the applicable Currency Hedge Rate prior to calculating the royalty payable; and (ii) the royalties which shall have accrued hereunder
in respect to Net Sales in determining the amount due. 
 (b) For the duration of the Agreement, and commencing
with the First Commercial Sale of Licensed Product in the Territory, COBI shall furnish to AVEO written reports (hereinafter the “Yearly Financial Report”), in the form specified in Exhibit H, within [**] calendar days
following the end of each Calendar Year, for which royalties are due, showing with respect to the United States, France, United Kingdom, Italy, Germany, Spain and the rest of the Territory as a total: (i) the gross sales in local currency and
converted into USD using the applicable Currency Hedge Rate; (ii) the Net Sales in local currency of all Licensed Products sold during the relevant Calendar Year and Net Sales in USD translated from local currency using the Currency Hedge Rate
prior to calculating royalty payable; and (iii) the calculation of Net Sales and an accounting of the deductions under Section 1.47 taken from the gross sales in calculating Net Sales; and (iv) the royalties which shall have accrued
hereunder in respect to Net Sales in determining the amount due. 
 (c) COBI will pay royalties due on Net Sales
received in a Calendar Quarter within [**] days of the end of such Calendar Quarter in USD to: 
 CASH — WIRE TRANSFER

 [**] 
 ABA Routing #
[**] 
 Account #[**] 
 For credit
to: [**] Account Name: AVEO PHARMACEUTCALS, INC. 
 Attn: [**] 
 Phone: [**] 
 or to such other account as to which AVEO provides written notice to COBI in
accordance with Section 11.4. 

  
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 4.10 Taxes. 

(a) COBI shall make all payments to AVEO under this Agreement without deduction or withholding for taxes except to the
extent that any such deduction or withholding is required by law in effect at the time of payment. 
 (b) Any tax
required to be withheld on amounts payable under this Agreement will promptly be paid by COBI on behalf of AVEO to the appropriate governmental authority, and COBI will furnish AVEO with proof of payment of such tax. Any such tax required to be
withheld will be an expense of and borne by AVEO. 
 (c) COBI and AVEO will cooperate with respect to all
documentation required by any taxing authority or reasonably requested by COBI to secure a reduction in the rate of applicable withholding taxes. 
 (d) If COBI had a duty to withhold taxes in connection with any payment it made to AVEO under this Agreement but COBI failed to withhold, and such taxes were assessed against and paid by COBI, then AVEO
will indemnify and hold harmless COBI from and against such taxes (including interest but excluding penalties). If COBI makes a claim under this Section 4.10(d), it will comply with the obligations imposed by Section 4.10(b) as if COBI had
originally withheld taxes from a payment to AVEO. 
 4.11 United States Dollars. All dollar ($) amounts specified in
this Agreement are United States dollar amounts. 
 4.12 Currency Exchange. All payment to be made hereunder by one Party
to the other Party shall be computed and paid in U.S. dollars. With respect to sales of a Licensed Product invoiced in a currency other than U.S. dollars such amounts and amounts payable per Section 4.5(a) will be expressed in the U.S. dollar
equivalent calculated by applying the Currency Hedge Rate determined as follows: 
 For the upcoming Calendar Year, COBI shall
obtain a Currency Hedge Rate(s) to be used for the local currency of each country of the Territory from its parent, Johnson & Johnson, and shall provide details of such Currency Hedge Rate(s) in writing to AVEO not later than [**] Business
Days after the Currency Hedge Rate(s) are available from Johnson & Johnson, which is customarily at the end of October. Such Currency Hedge Rate(s) will remain constant throughout the upcoming Calendar Year. 

4.13 Blocked Payments. If, by reason of applicable laws or regulations in any country, it becomes impossible or illegal for COBI
or any of its Affiliates or Sublicensees to move revenues related to Licensed Product out of such country, COBI will promptly notify AVEO of the conditions preventing such transfer, and royalties on the affected Net Sales shall, in lieu of payment
under Section 4.9, be deposited in local currency in the relevant country to the credit of AVEO in a recognized banking institution in such county designated by AVEO or, if none is designated by AVEO within a period of thirty (30) days, in
a recognized banking institution in such county selected by COBI or its Affiliates or Sublicensees, as the case may be, and identified in a notice given to AVEO. 

  
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 4.14 Late Payments. COBI will pay interest to AVEO on the aggregate amount of any
payments that are not paid on or before the date such payments are due under this Agreement at a rate per annum equal to [**] percent ([**]%) per month, calculated based on the number of days such payments are paid after the date such payments are
due. 
 4.15 Records and Audits. COBI will keep complete and accurate records relating to the calculations of Net Sales
generated in the then current Calendar Year, and during the preceding [**] Calendar Years. AVEO will have the right, [**] annually at its own expense, to have a nationally recognized, independent, certified public accounting firm, selected by it and
reasonably acceptable to COBI, review any such records of COBI and its Affiliates and Sublicensees (the “Audited Party”) in the location(s) where such records are maintained by the Audited Party upon reasonable written notice (which
shall be no less than [**] days’ prior written notice) and during regular business hours and under obligations of strict confidence, for the sole purpose of verifying the basis and accuracy of payments made and deductions taken under
Article IV within the [**] month period preceding the date of the request for review. No Calendar Year will be subject to audit under this Section more than [**]. COBI will receive a copy of each such report concurrently with receipt by AVEO.
In the event such inspection leads to the discovery of a discrepancy to AVEO’s detriment, COBI will, within [**] days after receipt of such report from the accounting firm, pay any undisputed amount of the discrepancy, plus interest on the
underpayment at a rate per annum of [**] percent ([**]%) per month, calculated from the date the underpayment was made until the date of payment to AVEO of the underpayment. AVEO will pay the full cost of the review unless the underpayment of
amounts due to AVEO is greater than [**] percent ([**]%) of the amount due for the entire period being examined, in which case COBI will pay the reasonable cost charged by such accounting firm for such review. Any undisputed overpayment of royalties
by COBI revealed by an examination will be paid by AVEO within [**] days of AVEO’s receipt of the applicable report. Any disagreement regarding the results of any audit conducted under this Section will be subject to the dispute resolution
provisions set forth in Article X. 
 ARTICLE V 
 INTELLECTUAL PROPERTY OWNERSHIP, PROTECTION 
 AND RELATED MATTERS

 5.1 Inventorship. Inventorship for patentable inventions conceived or reduced to practice during the course of the
performance of activities pursuant to this Agreement shall be determined in accordance with United States patent laws for determining inventorship. 
 5.2 Ownership. 
 (a) General. Subject to the licenses
and rights granted to COBI under this Agreement, as between the Parties, AVEO shall own the entire right, title and interest in and to all inventions and discoveries (and Patent Rights claiming patentable inventions therein) first made or discovered
solely by employees or Third Party service providers of AVEO or any of its Affiliates in the course of the Research Program. Except as set forth in Section 5.2(b), as between the Parties, COBI shall own the entire right, title and interest in
and to all inventions and discoveries (and Patent Rights claiming patentable inventions therein) first made or discovered solely by employees or Third Party service providers of COBI or any of its Affiliates in the course of development, manufacture
or commercialization of Licensed Product. The Parties shall jointly own any Joint Research Program IP. 

  
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 (b) RON Model Improvements. AVEO shall own all RON Model Improvements
and RON Model Improvement Patent Rights. COBI hereby assigns to AVEO all of the right, title and interest of COBI and its Affiliates in and to RON Model Improvements and RON Model Improvement Patent Rights. COBI shall promptly notify AVEO of any RON
Model Improvements, and such RON Model Improvements shall be treated as Confidential Information of AVEO under this Agreement with AVEO as the disclosing Party and COBI as the receiving Party for purposes of Article VI. COBI shall execute all such
documents, and take all such actions as AVEO may reasonably request to effect the foregoing assignment, at AVEO’s expense. 

5.3 Prosecution and Maintenance of Patent Rights. 

(a) AVEO Technology. AVEO shall have the sole right, at AVEO’s discretion and expense, to file, conduct
prosecution, and maintain (including the defense of any interference or opposition proceedings) all AVEO Patent Rights (other than Joint Research Program Patent Rights), in AVEO’s name. AVEO shall provide to COBI copies of all substantive
prosecution papers related to AVEO Patent Rights with claims Covering Licensed Products sent to or received from patent offices in the Territory, unless otherwise directed by COBI. With respect to such patent applications containing material not
previously filed that is intended to be filed in patent offices in the Territory, AVEO shall use reasonable efforts to provide COBI with a draft of each such filing reasonably in advance of submission and shall consider in good faith any comments
regarding such draft application that COBI may timely provide. In addition, AVEO shall provide to COBI such other information related to prosecution of the AVEO Patent Rights with claims Covering Licensed Product in the Territory as COBI may from
time to time reasonably request to allow COBI to track prosecution and maintenance of such Patent Rights. In the event AVEO decides not to file a patent application on AVEO Know-how specific to Licensed Product in a country of the Territory, or
decides to abandon prosecution of any claim of an AVEO Patent Right comprising claims Covering Licensed Product in a country of the Territory or decides not to maintain or extend any AVEO Patent Rights comprising claims Covering Licensed Product in
a country of the Territory, AVEO shall give COBI written notice in advance of any loss of rights, and except where the claims are being abandoned in favor of another application within AVEO Patent Rights or to permit other claims within AVEO Patent
Rights to be issued, AVEO will allow COBI to file, prosecute, maintain (including the defense of any interference or opposition proceeding) or extend, as the case may be, such AVEO Patent Rights, in AVEO’s name, in such country, at COBI’s
expense. 
 (b) COBI Technology. COBI shall have the sole right, at COBI’s discretion, to file,
conduct prosecution, and maintain (including the defense of any interference or opposition proceedings) all Patent Rights owned by COBI (other than Joint Research Program IP), in COBI’s name. 

  
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 (c) Joint Research Program. 

(i) AVEO shall have the first right, at AVEO’s discretion, to file, conduct prosecution, and maintain (including the
defense of any interference or opposition proceedings), all Joint Research Program Patent Rights, in the names of both AVEO and COBI, at AVEO’s expense. COBI shall use Commercially Reasonable Efforts to make available to AVEO or its authorized
attorneys, agents or representatives, such of its employees as AVEO, in its reasonable judgment, deems necessary in order to assist AVEO in obtaining patent protection for such Joint Research Program Patent Rights. Each Party shall sign, or use
Commercially Reasonable Efforts to have signed, all legal documents necessary to file and prosecute patent applications or to obtain or maintain patents in respect of such Joint Research Program Patent Rights, at its own cost. 

(ii) If AVEO elects not to seek or continue to seek or maintain patent protection on any Joint Research Program Know-how
in the Territory under clause (i), COBI shall have the right, at COBI’s discretion, to seek, prosecute and maintain in the relevant country in the Territory patent protection on such Joint Research Program Know-how in the names of both
AVEO and COBI, at COBI’s expense. AVEO shall use Commercially Reasonable Efforts to make available to COBI its authorized attorneys, agents or representatives, such of AVEO’s employees as are reasonably necessary to assist COBI in
obtaining and maintaining the patent protection described under this Section 5.3(c)(ii). AVEO shall sign or use Commercially Reasonable Efforts to have signed all legal documents necessary for COBI to file and prosecute such patent applications
or to obtain or maintain (including the defense of any interferences or opposition proceeding) such patents, as requested by COBI and at AVEO’s cost. 
 (iii) With respect to Joint Research Program Patent Rights, the Party filing, prosecuting and maintaining such Patent Rights shall provide the other Party, within [**] Business Days after submitting or
receiving official correspondence, with copies of all such official correspondence submitted to or received from patent offices, courts or other administrative bodies in the Territory. With respect to substantive filings and correspondence in the
Territory, the Party filing, prosecuting, and maintaining such Joint Research Program Patent Rights shall use reasonable efforts to provide the other Party with drafts of such filings and correspondence reasonably in advance of submission and shall
consider in good faith any comments regarding such filings and correspondence that the other Party may timely provide. 
 5.4
Patent Term Extensions. The Parties shall cooperate with each other in gaining patent term extension (including those extensions available under U.S. Drug Price Competition and Patent Term Restoration Act of 1984, the Supplementary
Certificate of Protection of Member States of the EU and other similar measures in any other country) wherever applicable to Patent Rights licensed under this Agreement that Cover the Licensed Product in the Territory. The Parties shall, if
necessary and appropriate, use reasonable efforts to agree upon a joint strategy relating to patent term extensions, but, in the absence of mutual agreement with respect to any extension issue, the patent or the claims of the patent shall be
selected on the basis of the scope, enforceability and remaining term of the patent in the relevant country or region. To the extent permitted by the jurisdiction in question, all filings for such extensions shall be made by the Party owning such
patent or, in the case of Joint Research Program Patent Rights, by the Party responsible for filing, prosecuting and maintaining such Patent Rights in accordance with this Section. 

  
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 5.5 Patent Expenses. The patent filing, prosecution and maintenance (including the
defense of any interference or opposition proceeding) expenses incurred with respect to Sections 5.3(b) and 5.4 shall be borne by COBI. 
 5.6 Third Party Infringement. 
 (a) Notices. Each
Party will promptly report in writing to the other Party any (i) known or suspected infringement of any AVEO Patent Rights or Joint Research Program Patent Rights, or (ii) unauthorized use or misappropriation of any AVEO Know-how or Joint
Research Program Know-how by a Third Party, of which such Party becomes aware, in each case only to the extent relevant to the development, manufacture, commercialization or use of Licensed Product in the Field in the Territory, and will provide the
other Party with all available information evidencing such infringement, or unauthorized use or misappropriation. 
 (b) COBI First Right to Enforce Certain AVEO Patent Rights. COBI or its designated Affiliate or Sublicensee will have the first right, but not the obligation, to initiate a lawsuit or take other
appropriate action that it believes is reasonably required to prevent or abate actual or threatened infringement, or otherwise protect or enforce, AVEO Patent Rights Covering Licensed Product and Joint Research Program Patent Rights against a Third
Party who is researching, making, using, selling or importing a product in the Field in a country within the Territory that is competitive with Licensed Product, provided that COBI shall not initiate any lawsuit or take any enforcement action under
this Section without first consulting AVEO and giving good faith consideration to any AVEO recommendation(s). AVEO and its Affiliates will join such suit if the relevant court would lack jurisdiction if AVEO or such Affiliate were absent from such
suit, and AVEO and such Affiliates will execute such legal papers and cooperate in the prosecution of such suit as may be reasonably requested by COBI; provided, that COBI will promptly reimburse all out-of-pocket expenses (including reasonable
attorneys’ fees and expenses) incurred by AVEO and such Affiliates in connection with joining such suit and providing such other requested cooperation. 
 (c) AVEO Rights if COBI Elects Not to Proceed. If COBI does not initiate a lawsuit or take other appropriate action pursuant to Section 5.6(b) within [**] days after knowledge of such
infringement or misappropriation or, in the case of receipt of a notice letter sent by a Third Party pursuant to the requirements of 21 U.S.C. § 355(b)(2)(A)(iv) or 355(j)(2)(A)(vii)(IV) or under any analogous provisions, within [**] days
before any statutory or regulatory deadline for filing such suit, then AVEO will have the immediate right to initiate a lawsuit or take other appropriate action that it believes is reasonably required to prevent or abate actual or threatened
infringement, or otherwise to protect or enforce the relevant AVEO Patent Rights or Joint Research Program Patent Rights. COBI and its Affiliates will join such suit if the relevant court would lack jurisdiction if COBI or such Affiliates were
absent from such suit, and COBI and such Affiliates will execute such legal papers and cooperate in the prosecution of such suit as may be reasonably requested by AVEO; provided, that AVEO will promptly reimburse all out-of-pocket expenses
(including reasonable attorneys’ fees and expenses) incurred by COBI and such Affiliates in connection with joining such suit and providing such requested cooperation. 

  
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 (d) Enforcement Against Other Infringement of AVEO Patent Rights.
Except as provided in Section 5.6(b), AVEO will have the sole right, but not the obligation, to initiate a lawsuit or take other appropriate action that it believes is reasonably required to prevent or abate actual or threatened infringement,
or otherwise to protect or enforce, AVEO Patent Rights during the Term. 
 (e) Right to Enforce Know-how.
Responsibility for preventing or abating actual or threatened misappropriation of, or otherwise protecting AVEO Know-how or Joint Research Program Know-how will be determined in the same manner as the right to enforce AVEO Patent Rights under
paragraphs (b), (c) and (d). The protecting Party shall keep the other Party informed of the status of all such protecting activities, and shall consider in good faith all comments of the other Party regarding any aspect of such protecting
activities. 
 (f) Conduct of Certain Actions; Costs. The Party initiating litigation under this
Section 5.6 will have the sole and exclusive right to select counsel for any litigation initiated by it pursuant to this Section. The initiating Party will assume and pay all of its own out-of-pocket costs incurred in connection with any
litigation or proceedings initiated by it pursuant to this Section, including the fees and expenses of the legal counsel selected by it. 
 (g) Recoveries. 
 (i) If COBI initiates litigation as
permitted in accordance with Sections 5.6(b) or, with respect to AVEO Know-how or Joint Research Program Know-how, if COBI initiates proceedings claiming misappropriation of such Know-how (to be conducted in the same manner as if they were
Patent Rights under Section 5.6), any damages, settlements, accounts of profits, or other financial compensation actually paid to COBI by a Third Party based upon such litigation, after deducting COBI’s actual out of pocket expenses
(including reasonable attorneys’ fees and expenses) incurred in pursuing such litigation (such net amount, the “Recovery”), [**], with COBI retaining the balance after such payment. 

(ii) If AVEO initiates litigation pursuant to Section 5.6(c) or with respect to AVEO Know-how or Joint Research
Program Know-how under Section 5.6(e), in the same manner as set forth in Section 5.6(c), [**]. 
 5.7 Patent
Invalidity Claim. Each of the Parties will promptly notify the other Party in the event of any legal or administrative action by any Third Party against an AVEO Patent Right or Joint Research Program Patent Rights, or any certification filed
pursuant to 21 U.S.C. § 355(b)(2)(A)(iv) or 355(j)(2)(A)(vii)(IV) or any notice under any analogous provisions, with respect to such Patent Rights, of which it becomes aware, including any nullity, revocation, reexamination or compulsory
license proceeding. Responsibility for defending against any such action shall be determined in the same manner as enforcement of the relevant Patent Rights pursuant to Section 5.3. 

  
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 5.8 Third Party Infringement Claims. If a Party becomes aware of any claim that the
development, manufacture or commercialization of Licensed Product in the Field infringes the Patent Rights of any Third Party in the Territory, such Party shall promptly notify the other Party. 

ARTICLE VI 

CONFIDENTIALITY 
 6.1 Confidential Information. During the Term and for a period of [**] years after any termination or expiration of this Agreement, each Party (the “receiving Party”) agrees to
keep in confidence and not to disclose to any Third Party, or use for any purpose, except, in each case, pursuant to, and in order to carry out, the terms and objectives of this Agreement (which, in the case of COBI and its Affiliates and
Sublicensees, includes activities contemplated by the licenses granted in Section 3.1) or as otherwise specifically permitted under this Agreement, any Confidential Information of the other Party (the “disclosing Party”). The
terms of this Agreement will be considered Confidential Information of both Parties, subject to permitted disclosures as set forth in this Article VI. The restrictions on the disclosure and use by the receiving Party of Confidential Information
of the disclosing Party set forth in the first sentence of this Section 6.1 will not apply to any Confidential Information of the disclosing Party that: 
 (i) was known by the receiving Party prior to disclosure by the disclosing Party under this Agreement (as evidenced by the receiving Party’s written records or other competent evidence); 

(ii) is or becomes part of the public domain through no fault of the receiving Party; 

(iii) is disclosed to the receiving Party by a Third Party, to the best of receiving Party’s knowledge, having a
legal right to make such disclosure without violating any confidentiality or non-use obligation that such Third Party has to the disclosing Party and provided such Third Party is not disclosing such information on behalf of the disclosing Party; or

 (iv) is independently developed by personnel of the receiving Party who did not have access to the
Confidential Information (as evidenced by the receiving Party’s written records or other competent evidence) and other than in connection with activities under this Agreement. 

In addition, if either Party is required to disclose Confidential Information of the other Party by regulation, law or legal process,
including by the rules or regulations of the United States Securities and Exchange Commission or similar regulatory agency in any country or of any stock exchange or Nasdaq, such Party shall provide at least [**] Business Days prior written notice,
along with a copy of such intended disclosure, to such other Party, will consider in good faith the other Party’s comments, will disclose only such Confidential Information of such other Party as is required to be disclosed and will cooperate
in the disclosing Party’s efforts to obtain a protective order or to limit the scope of the required disclosures. Notwithstanding anything in this Agreement to the contrary, either Party may disclose to bona fide potential or existing

  
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investors or lenders, potential acquirors/acquirees, and, in the case of COBI, to potential and existing Sublicensees, and, in the case of AVEO, to any licensor of AVEO Technology or AVEO
Platform Technology and, as to either Party, to such Party’s consultants and advisors, the existence and terms of this Agreement to the extent necessary in connection with a proposed equity or debt financing of such Party, or a proposed
acquisition or business combination or for purposes related to this Agreement, so long as such recipients are bound in writing to maintain the confidentiality of such information. 

6.2 Permitted Disclosures. Each Party agrees that it and its Affiliates will provide or permit access to Confidential Information
received from the other Party and such Party’s Affiliates and representatives only to the receiving Party’s employees, consultants, advisors and bona fide potential acquirors and potential investors, and, in the case of COBI as the
receiving Party, to service providers, investigators, Third Party contractors, potential and existing Sublicensees and distributors, in each case who are subject to obligations of confidentiality and non-use that would apply to such Confidential
Information and are at least as stringent as the obligations applicable to the receiving Party under this Agreement. In addition, AVEO may disclose Confidential Information of COBI to any licensor of the AVEO Technology, to the extent such
disclosure is required under the applicable AVEO In-license. AVEO and COBI shall each remain responsible for any failure by its Affiliates, and its and its Affiliates’ respective employees, consultants, advisors and permitted contractors,
sublicensees and distributors, to treat such Confidential Information as required under Section 6.1 (as if such Affiliates, employees, consultants, advisors, contractors, sublicensees and distributors were Parties directly bound to the
requirements of Section 6.1). COBI may also disclose Confidential Information of AVEO to Regulatory Authorities and other governmental authorities, but solely in connection with the activities contemplated by this Agreement. 

6.3 Publicity. Neither Party will issue a press release or public announcement relating to the terms of this Agreement without the
prior written approval of the other Party, which approval shall not be unreasonably withheld or delayed, except that (i) AVEO may issue a press release in the form attached as Exhibit E in its name only; (ii) a Party may issue such
press release or public announcement if the contents of such press release or public announcement are consistent with a previously approved press release or have otherwise previously been made public other than through a breach of this Agreement,
(iii) AVEO may issue a press release related to the receipt of milestone payments provided that it gives COBI prior written notice; and (iv) a Party may issue such a press release or public announcement if required by applicable law,
including by the rules or regulations of the United States Securities and Exchange Commission (SEC) or similar regulatory agency in a country other than the United States or of any stock exchange or Nasdaq; provided that such Party complies with the
notice and review provisions set forth in this Section. During the Term of this Agreement, in no event will AVEO make any public disclosure related to COBI’s activities under this Agreement or related to the results generated by COBI or any of
its Affiliates or Sublicensees with respect to Licensed Product without the prior written consent of COBI except to the extent required by applicable law. During the Term of this Agreement. in the event AVEO is required by applicable law to publicly
disclose any of the results generated by COBI or any of its Affiliates or Sublicensees or any information provided by COBI related to Licensed Product or either Party is required by applicable law to disclose the terms of this Agreement, such Party
will give the other Party at least [**] Business Days’ prior written notice, will provide to such other Party a copy of the 

  
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required disclosure, will, if requested by such other Party, to the extent permitted by applicable law, request confidential treatment of any financial and other materials terms of this Agreement
not previously disclosed under this Section, and will consider in good faith any other comments of such other Party on such public disclosure. In any press releases or other public disclosure related to Licensed Product, COBI shall reference
AVEO’s role as licensor of the Know-how and Patent Rights licensed under this Agreement. 
 6.4 Return of Confidential
Information. Upon termination of this Agreement, the receiving Party shall, at the request of, and as directed by, the disclosing Party, return or destroy Confidential Information of the disclosing Party in the receiving Party’s possession,
and shall destroy any reports or notes in receiving Party’s possession to the extent containing the disclosing Party’s Confidential Information, and any electronic copies of any of the foregoing, provided that (i) the receiving Party
may retain one copy of Confidential Information of the disclosing Party for archival purposes, and (ii) neither Party shall be required to return or destroy copies of the other Party’s Confidential Information stored on automatically
created system back-up media. 
 ARTICLE VII 
 REPRESENTATIONS AND WARRANTIES; CERTAIN COVENANTS 
 7.1 Mutual
Representations. Each Party hereby represents and warrants to the other Party, as of the Effective Date, as follows: 
 (a) It is duly organized and validly existing under the laws of its jurisdiction of incorporation and has the corporate power and authority to execute and deliver this Agreement and to perform its
obligations hereunder. 
 (b) The execution, delivery and performance of this Agreement by such Party has been
duly and validly authorized and approved by proper corporate action on the part of such Party. Such Party has taken all other action required by applicable law, its certificate of incorporation or by-laws or any agreement to which it is a party or
by which it or its assets are bound, to authorize such execution, delivery and performance. Assuming due authorization, execution and delivery on the part of the other Party, this Agreement constitutes a legal, valid and binding obligation of such
Party. 
 (c) The execution and delivery of this Agreement, and the performance as contemplated hereunder, by
such Party will not violate any applicable law. 
 (d) Neither the execution and delivery of this Agreement nor
the performance hereof by such Party requires such Party to obtain any permit, authorization or consent from any governmental authority (except for any Regulatory Approvals, pricing or reimbursement approvals, manufacturing-related approvals or
similar approvals necessary for development, manufacture or commercialization of Licensed Products), or from any other person, and such execution, delivery and performance by such Party, including the granting of the licenses granted under this
Agreement, will not result in the breach of, or give rise to any conflict, termination of, rescission, renegotiation or acceleration under any agreement or contract to which such Party may be a party existing as of the Effective Date. 

  
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 (e) Neither Party nor any of its Affiliates has been debarred or is subject
to debarment, and AVEO has not used in any capacity in connection with the development or manufacture of Licensed Product prior to the Effective Date, any person or entity who has been debarred pursuant to Section 306 of the United States
Federal Food, Drug, and Cosmetic Act, or who is the subject of a conviction described in such section. 
 7.2 AVEO’s
Representations and Warranties. AVEO hereby makes the following representations and warranties to COBI as of the Effective Date: 
 (a) AVEO has not granted any third party any patent rights related to any RON Antibody and has the right to grant to COBI licenses described in Section 3.1 of this Agreement. 

(b) Exhibit A contains a complete and correct list of all AVEO Patent Rights existing as of the Effective Date.

 (c) To AVEO’s knowledge, no Third Party is infringing any of the AVEO Patent Rights identified on
Exhibit A. 
 (d) AVEO has not received any written notice of (i) any claim that any patent or trade
secret right owned or controlled by a Third Party would be infringed or misappropriated by the manufacture, use, sale, offer for sale or importation of Licensed Products in the Field, or (ii) any threatened administrative proceedings or
litigation seeking to invalidate or otherwise challenge the AVEO Patent Rights. 
 (e) [**]. 

(f) None of the AVEO Patent Rights owned by AVEO are the subject of any pending re-examination, opposition, interference
or litigation proceedings. 
 (g) To AVEO’s knowledge, there have been no inventorship or ownership
challenges with respect to any of the AVEO Patent Rights. 
 (h) AVEO did not use any Know-how from [**] during
its research and development of RON Antibodies. 
 (i) Except as set forth in Exhibit F, there are no
agreements in existence as of the Effective Date pursuant to which a Third Party has licensed to AVEO any AVEO Patent Rights or AVEO Know-how or pursuant to which AVEO or any of its Affiliates has otherwise acquired any AVEO Patent Rights or AVEO
Know-how from a Third Party. 
 7.3 Compliance with Law. Each Party shall comply with all applicable laws in its
performance of activities contemplated under this Agreement including, in the case of COBI, in the development, manufacture, commercialization and use of Licensed Product. 
 7.4 No Warranty. EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY HERETO MAKES ANY REPRESENTATIONS AND NEITHER PARTY EXTENDS ANY WARRANTIES OF ANY KIND, EITHER EXPRESS,

  
 31 

 
IMPLIED, STATUTORY OR OTHERWISE, WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT (INCLUDING ANY LICENSED PRODUCT), INCLUDING ANY WARRANTY OF MERCHANTABILITY, NONINFRINGEMENT, OR FITNESS FOR
A PARTICULAR PURPOSE. EXCEPT AS EXPRESSLY PROVIDED IN THIS AGREEMENT, AVEO MAKES NO WARRANTY OR REPRESENTATION AS TO THE VALIDITY OR SCOPE OF THE AVEO PATENT RIGHTS OR AVEO KNOW HOW, OR THAT ANY LICENSED PRODUCT WILL BE FREE FROM AN INFRINGEMENT OF
PATENTS OR OTHER INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR THAT NO THIRD PARTIES ARE IN ANY WAY INFRINGING OR NOT INFRINGING THE AVEO PATENT RIGHTS OR AVEO KNOW-HOW COVERED BY THIS AGREEMENT. COBI DISCLAIMS ANY REPRESENTATION OR WARRANTY
THAT THE DEVELOPMENT, MANUFACTURE AND COMMERCIALIZATION OF LICENSED PRODUCT PURSUANT TO THIS AGREEMENT WILL BE SUCCESSFUL OR THAT, IF COMMERCIALIZED, ANY PARTICULAR SALES LEVEL WILL BE ACHIEVED. 

ARTICLE VIII 
 INDEMNIFICATION 
 8.1 Indemnification by COBI. COBI will indemnify,
hold harmless, and defend AVEO, its Affiliates, and their respective directors, officers, employees and agents (the “AVEO Indemnitees”) from and against any and all damages, liabilities, costs, expenses and amounts paid in
settlement (collectively, “Losses”) incurred in connection with any Third Party claim arising out of or resulting from, directly or indirectly; (i) any breach of, or inaccuracy in, any representation or warranty made by COBI in
this Agreement, or any breach or violation of any term of this Agreement by COBI; (ii) the negligence or willful misconduct of COBI, its Affiliates and their respective Sublicensees, and their respective directors, officers, employees and
agents; and (iii) the research, development, manufacture, commercialization, or use of Licensed Product by COBI and its Affiliates and Sublicensees in the Territory in the Field under this Agreement. Notwithstanding the foregoing or anything in
this Agreement to the contrary, COBI will have no obligation to indemnify the AVEO Indemnitees to the extent that the Losses arise out of or result from, directly or indirectly, any breach of, or inaccuracy in, any representation or warranty made by
AVEO in this Agreement; any breach or violation of any term of this Agreement by AVEO; or the negligence or willful misconduct of any of the AVEO Indemnitees. 
 8.2 Indemnification by AVEO. AVEO will indemnify, hold harmless, and defend COBI, its Affiliates and their respective directors, officers, employees and agents (the “COBI
Indemnitees”) from and against any and all Losses incurred in connection with any Third Party claim arising out of or resulting from, directly or indirectly, (i) any breach of, or inaccuracy in, any representation or warranty made by
AVEO in this Agreement, or any breach or violation of any term of this Agreement by AVEO; or (ii) the negligence or willful misconduct of any AVEO Indemnitee. Notwithstanding the foregoing, or anything in this Agreement to the contrary, AVEO
will have no obligation to indemnify the COBI Indemnitees for any Losses as to which COBI is obligated to indemnify AVEO under Section 8.1. 

  
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 8.3 Indemnification Procedure. In the event of any such claim against any COBI
Indemnitee or AVEO Indemnitee (individually, an “Indemnitee”), the indemnified Party shall promptly notify the other Party in writing of the claim and the indemnifying Party shall manage and control, at its sole expense, the defense
of the claim and its settlement. The indemnified Party will cooperate with the indemnifying Party and may, at the indemnifying Party’s option and expense, be represented in any such action or proceeding. The indemnifying Party will not be
liable for any settlements entered into by any Indemnitee without the indemnifying Party’s prior written authorization. Notwithstanding the foregoing, if the indemnifying Party believes that any of the exceptions to its obligation of
indemnification of the Indemnitees set forth in this Article 8 may apply, the indemnifying Party will promptly notify the Indemnitees, who shall then have the right to be represented in any such action or proceeding by separate counsel at their
expense; provided that the indemnifying Party will be responsible for payment of such expenses if the Indemnitees are ultimately determined to be entitled to indemnification from the indemnifying Party. 

8.4 Limitation of Liability. NEITHER PARTY HERETO WILL BE LIABLE FOR SPECIAL, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE DAMAGES
ARISING OUT OF THIS AGREEMENT OR THE EXERCISE OF ITS RIGHTS HEREUNDER, INCLUDING LOST PROFITS ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF SUCH DAMAGES, EXCEPT AS A RESULT OF A PARTY’S WILLFUL
MISCONDUCT. NOTHING IN THIS SECTION 8.4 IS INTENDED TO LIMIT OR RESTRICT THE INDEMNIFICATION RIGHTS OR OBLIGATIONS OF EITHER PARTY. 
 8.5 Insurance. During the Term and for a period of at least [**] years after the last commercial sale of a Licensed Product in the Field under this Agreement, COBI will maintain insurance, with a
reputable, solvent insurer in an amount appropriate for its business and products of the type that are the subject of this Agreement, and for its obligations under this Agreement, including, commencing immediately prior to the first human clinical
trial, product liability insurance including coverage for COBI’s products undergoing clinical trials and for products being commercialized in an amount not less than $[**] per occurrence and $[**] in the aggregate on a worldwide basis.
Notwithstanding the foregoing, COBI may satisfy its obligations under this Section 8.5 through the Johnson and Johnson self insurance program to the same extent. 
 ARTICLE IX 
 TERM AND TERMINATION 

9.1 Term. This Agreement will become effective as of the Effective Date, and will continue in full force and effect until the last
to expire Royalty Term, unless earlier terminated in accordance with this Article IX (“Term”). Upon expiration of the Term under the preceding sentence (but not earlier termination of this Agreement) the licenses granted to COBI
under Section 3.1(a) will convert to perpetual, fully paid-up, non-royalty-bearing, non-exclusive license. 
 9.2
Termination for Convenience. COBI will have the right to terminate this Agreement at any time and for any reason upon at least ninety (90) days’ prior written notice to AVEO if such termination notice is given prior to the first IND
submission with respect to a Licensed Product, and otherwise upon one-hundred eighty (180) days’ prior written notice. 

  
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 9.3 Termination for Cause. This Agreement may be terminated at any time during the
Term upon written notice by either Party if the other Party is in material breach of its obligations hereunder, and has not cured such material breach within [**] days after written notice describing the nature of such material breach is provided to
the breaching Party. 
 9.4 Bankruptcy Termination. To the extent permitted by applicable law, either Party may terminate
this Agreement by giving written notice of termination to the other Party within thirty (30) days of the filing for bankruptcy by such other Party or the making by such other Party of any assignment for the benefit of creditors. Termination
shall be effective upon the date specified in such notice. 
 9.5 Effect of Termination. 

(a) Clinical Trial Expenses. In the event of a termination of this Agreement by COBI under Section 9.2 or by
AVEO under Section 9.3 or 9.4, COBI shall continue to pay any clinical trial expenses related to the conduct of any trials ongoing for a period of [**] months after the date of termination, [**]. 

(b) Obligations; Transfer of Information and Filings. Upon the termination of this Agreement for any reason,
nothing herein shall be construed to release either Party from any obligation that was incurred prior to the effective date of such termination, and COBI shall remain obligated to provide an accounting for and to pay royalties earned. In the event
of any termination of this Agreement, (i) the licenses granted to COBI under Article III shall terminate; (ii) all rights granted hereunder by AVEO shall revert to AVEO for the benefit of AVEO; (iii) COBI shall, as promptly as
practicable, transfer to AVEO or AVEO’s designee: (a) possession and ownership of all governmental or regulatory correspondence, conversation logs, filings and approvals (including all INDs, Marketing Approvals and pricing and
reimbursement approvals) relating to the development, manufacture or commercialization of the Licensed Product in the Field and all product trademarks then being used in connection with the commercialization of Licensed Product, other than
COBI’s or its Affiliates’ corporate trademarks; (b) all preclinical, clinical, safety and other data related to Licensed Product in COBI’s possession and control; and COBI shall use Commercially Reasonable Efforts to obtain for
AVEO the right to access all such data and reports; and (c) tangible embodiments of COBI Product Know-how; (iv) COBI shall provide AVEO and its designees with a right of reference to any IND, Marketing Approval or other filing or approval
with any Regulatory Authority related to the development, manufacture or sale of Licensed Products that has not yet been transferred to AVEO or its designee under this Section, and shall provide prompt notice to the applicable Regulatory Authority
of such right of reference; and (vi) in the event that COBI has assumed responsibility under Sections 5.3 or 5.6 with respect to AVEO Technology or Joint Research Program IP, COBI will use Commercially Reasonable Efforts transfer such
responsibility and all related files and documents to AVEO or its designee in such a manner as to ensure no loss of rights. In addition, in the event of termination, COBI shall provide to AVEO, at AVEO’s request and, except as otherwise set
forth in this paragraph, free of charge, all Licensed Product inventory and materials in COBI’s possession and control. If the effective date of any termination is after First Commercial Sale of Licensed Product in any country in the Territory,
then, if requested by AVEO, COBI shall appoint AVEO or its designee as COBI’s exclusive distributor of Licensed Product, until such time as all Marketing Approvals have been transferred to AVEO. COBI will execute all

  
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documents and take all such further actions, as may be reasonably requested by AVEO in order to give effect to this Section as soon as practicable. All information transferred to AVEO in
accordance with this Section 9.5(b), shall be treated as the Confidential Information of AVEO with AVEO as the disclosing Party and COBI as the receiving Party for purposes of Article VI even if generated by or on behalf of COBI. COBI agrees to
provide AVEO with reasonable assistance and cooperation, including making appropriate personnel available, to effect the orderly and timely transfer of information, materials and filings under this Section 9.5(b). In the event of termination of
this Agreement by COBI under Section 9.3 or 9.4, COBI’s reasonable costs of performing the activities set forth in this paragraph will be borne by AVEO, and AVEO will pay for any Licensed Product inventory transferred to AVEO under this
paragraph at COBI’s actual cost of goods for such materials. Upon termination of this Agreement, AVEO shall be free to disclose the terms of this Agreement to potential licensees. 

(c) Manufacturing. In the event of any termination of this Agreement, to the extent COBI or any of its Affiliates
or Sublicensees is engaged in the Manufacture of a Licensed Product as of the effective date of termination, COBI or such Affiliate or Sublicensee shall, as requested by AVEO, manufacture and supply AVEO’s requirements for such Licensed Product
in the Field from the date of such termination until, with respect to each such Licensed Product, the earliest to occur of (i) such time as an alternative manufacturing source is manufacturing such Licensed Product for AVEO; (ii) [**]
months after the effective date of termination; or (iii) such time as AVEO provides written notice to COBI that AVEO is no longer in need of such manufacturing and supply support with respect to such Licensed Product; provided, that, with
respect to each Licensed Product, AVEO shall use Commercially Reasonable Efforts to secure a satisfactory alternative manufacturing source as promptly as reasonably practicable following the effective date of termination and shall provide written
notice to COBI as soon as such alternative source is secured and able to supply Licensed Product to AVEO. In the event of termination of this Agreement, COBI shall, at AVEO’s request, cooperate with AVEO, and cause the Third Party manufacturer
of Licensed Product, if any, to, cooperate with AVEO, in the transfer, scale-up and validation of the manufacturing process for Licensed Product to AVEO or AVEO’s designee, including transfer of the master batch record and analytical methods
and all other relevant records requested by AVEO related to production, testing and release of Licensed Product, and shall make its personnel reasonably available to AVEO to answer questions in connection with the foregoing. In the event COBI has
terminated this Agreement under Section 9.3 or 9.4, the reasonable costs of COBI’s activities under this Section 9.5(c) shall be borne by AVEO. In addition, at AVEO’s option, COBI shall use Commercially Reasonable Efforts to
assign to AVEO any Third Party manufacturing contract relating to such Licensed Products to which COBI or any of its Affiliates is a party (or the applicable provisions thereof, as the case may be). All Licensed Product supplied to AVEO by COBI
pursuant to this Section shall be manufactured in compliance with then applicable current Good Manufacturing Practices in the Territory in which Licensed Product is intended for use and shall be sold by COBI, and purchased by AVEO, at a price equal
to [**] percent ([**]%) of [**], provided that if COBI has terminated this Agreement under Section 9.3 or 9.4, the mark-up shall be [**] percent ([**]%). At AVEO’s request in connection with any supply relationship created under this
Section, COBI and AVEO shall execute a supply agreement with reasonable and customary provisions consistent with AVEO’s rights and COBI’s obligations under this Agreement. 

  
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 (d) License Grant. In the event of termination of this Agreement by
AVEO under Section 9.3 or 9.4 or termination by COBI under Section 9.2, COBI will be deemed to have granted to AVEO a royalty-free, worldwide, perpetual exclusive, sublicensable, license under any COBI Product Patent Rights and COBI
Product Know-how to the extent necessary or reasonably useful to develop, manufacture, market, sell or use Licensed Product in the Field in the Territory and solely for such purpose. 

(e) Control. During the Term, COBI will not enter into any agreement with any Third Party or take any other action
that would prevent COBI from being able to license Know-how incorporated into any Licensed Product or any Patent Rights Covering such Know-how to AVEO upon termination of this Agreement. 

9.6 Survival. Any expiration or termination of this Agreement will be without prejudice to the rights of either Party against the
other accrued or accruing under this Agreement prior to expiration or termination, including payment obligations arising prior to such expiration or termination. The provisions of Section 4.15, Articles VI, VIII, IX, X and XI will survive any
expiration or termination of this Agreement and all other provisions contained in this Agreement that by their explicit terms survive expiration or termination of this Agreement, will survive. Except as set forth in this Article IX, upon termination
or expiration of this Agreement all other rights and obligations of the Parties under this Agreement terminate. 
 ARTICLE X

 DISPUTE RESOLUTION 
 10.1 Continuance of Rights and Obligations During Pendency of Dispute Resolution. If there are any disputes in connection with this Agreement, including disputes related to termination of this
Agreement under Article IX, all rights and obligations of the Parties shall continue until such time as any dispute has been resolved in accordance with the provisions of this Article X. 

10.2 Referral of Unresolved Matters to Senior Executives. In the event that the Parties are unable to resolve a dispute on matters
not related to the Research Plan or the conduct of Research Program activities within [**] days from the date such dispute is first brought to the other Party’s attention, the matter shall be referred to a senior executive designated by each
Party (but who is not a member of the JRC) to be resolved by negotiation in good faith as soon as is practicable but in no event later than [**] days after referral. 
 10.3 Decision-Making. If a dispute relates to the Research Plan, then COBI will retain final decision-making authority, provided that: 

(i) in no event may COBI require AVEO to perform types of activities which AVEO has not agreed to perform in the then
current Research Plan or this Agreement or as otherwise agreed in writing by AVEO; 
 (ii) in no event may COBI
unilaterally amend the terms of this Agreement or override AVEO’s rights under this Agreement; 

  
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 (iii) in no event may COBI unilaterally determine that AVEO has failed to
fulfill any of its obligations with respect to the Research Program activities; 
 (iv) in the event the dispute
relates to an amendment to the Research Plan, notwithstanding COBI’s rights under this Section 10.3, COBI may not unilaterally decrease the then applicable AVEO FTE budget, or take any action with respect to the Research Plan that would be
contrary to the other clauses of this Section 10.3; 
 (v) COBI will not exercise its final decision-making
authority in a manner that would require AVEO to perform any act that it reasonably believes to be inconsistent with law; and 
 (vi) in no event will AVEO be required to make any expenditures or increase or change its FTEs or its allocation of resources with respect to Research Plan activities or incur any expense that is not
fully reimbursed by COBI under this Agreement as R&D Costs. 
 Except as set forth in clauses (i), (ii), (iv), (v) and
(vi) of the preceding sentence which apply solely with respect to disputes related to the conduct of Research Plan activities, disputes under clause (iii) of the preceding sentence and all disputes not resolved under Section 10.2
shall be resolved in the manner set forth in Sections 10.4 and 10.5. 
 10.4 Mediation. Any dispute, controversy or claim
arising out of or related to this Agreement, or the interpretation, application, breach, termination or validity thereof, including any claim of inducement by fraud or otherwise, which the Parties have not resolved under Section 10.2, shall, be
mediated through non-binding mediation in accordance with The CPR Mediation Procedure for Business Disputes then in effect of the CPR Institute for Dispute Resolution (CPR), except where that procedure conflicts with these provisions, in which case
these provisions control. The mediation shall be conducted in New York, NY and shall be attended by a senior executive with authority to resolve the dispute from each Party. 
 The Parties shall promptly confer in an effort to select by mutual agreement a neutral, independent and disinterested mediator from a professional mediation firm such as ADR Associates or JAMS/ENDISPUTE
or CPR. In the absence of such an agreement within [**] days of initiation of the mediation, the mediator shall be selected by CPR as follows: CPR shall provide the parties with a list of at least fifteen (15) names from the CPR Panels of
Distinguished Neutrals. Each Party shall exercise challenges for cause, two peremptory challenges, and rank the remaining candidates within [**] working days of receiving the CPR list. The Parties may together interview the three (3) top-ranked
candidates for no more than one hour each and, after the interviews, may each exercise one peremptory challenge. The mediator shall be the remaining candidate with the highest aggregate ranking. 

The mediator shall confer with the Parties to design procedures to conclude the mediation within no more than [**] days after initiation. Under no
circumstances may the commencement of arbitration under Section 10.5 be delayed more than [**] days by the mediation process specified herein absent contrary agreement of the Parties. 

  
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 No statements made by either Party during the mediation may be used by the other or referred to during any
subsequent proceedings. 
 Each Party has the right to pursue provisional relief from any court of competent jurisdiction, such as attachment,
preliminary injunction, replevin, etc., to avoid irreparable harm, maintain the status quo, or preserve the subject matter of the arbitration, even though mediation has not been commenced or completed. 

10.5 Arbitration. Any dispute, claim or controversy arising from or related in any way to this Agreement or the interpretation,
application, breach, termination or validity thereof, including any claim of inducement of this Agreement by fraud or otherwise, which the Parties have not resolved under Section 10.2 or 10.4, will be submitted for resolution to arbitration
pursuant to the rules then pertaining of the CPR Institute for Dispute Resolution for Non-Administered Arbitration (available at www.cpradr.org/arb-rules.htm), or its successor (“CPR”), except where those rules conflict with these
provisions, in which case these provisions control. The arbitration will be held in New York, NY. 
 10.5.1 The arbitration
panel shall consist of three (3) arbitrators chosen from the CPR Panels of Distinguished Neutrals (or, by agreement, from another provider of arbitrators) each of whom is a lawyer with at least fifteen (15) years experience with a law firm
or corporate law department of over twenty-five (25) lawyers or who was a judge of a court of general jurisdiction, and has appropriate experience in the pharmaceutical or biotechnology industry and does not have a conflict of interest under
applicable ethical rules. In the event the aggregate damages sought by the claimant are stated to be less than $[**], and the aggregate damages sought by the counter claimant are stated to be less than $[**], and neither side seeks equitable relief,
then a single arbitrator shall be chosen, having the same qualifications and experience specified above. Each arbitrator shall be neutral, independent, disinterested and impartial and shall abide by The CPR-Georgetown Commission on Ethics and
Standards in ADR Proposed Model Rule for the Lawyer as Third-Party Neutral. 
 10.5.2 The Parties agree to cooperate (1) to
attempt to select the arbitrator(s) by agreement within [**] days of initiation of the arbitration, including jointly interviewing the final candidates, (2) to meet with the arbitrator(s) within [**] days of selection and (3) to agree at
that meeting or before upon procedures for discovery and as to the conduct of the hearing which will result in the hearing being concluded within no more than [**] months after selection of the arbitrator(s) and in the award being rendered within
[**] days of the conclusion of the hearings, or of any post-hearing briefing, which briefing will be completed by both sides within [**] days after the conclusion of the hearings. 

10.5.3 In the event the Parties cannot agree upon selection of the arbitrator(s), the CPR will select arbitrator(s) as follows: CPR shall
provide the parties with a list of no less than twenty-five (25) proposed arbitrators (fifteen (15) if a single arbitrator is to be selected) meeting the requirements set forth above. Within [**] days of receiving such list, the parties
shall rank at least seventeen (17) (or eleven (11), if a single arbitrator is to be selected) of the proposed arbitrators on the initial CPR list, after exercising cause challenges. The Parties may then interview the five (5) candidates
(three (3) if a single arbitrator is to be selected) with the highest combined rankings for no more than one hour each and, following the interviews, may exercise 

  
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one peremptory challenge each. The panel will consist of the remaining three candidates (or one, if one arbitrator is to be selected) with the highest combined rankings. In the event these
procedures fail to result in selection of the required number of arbitrators, CPR shall select the appropriate number of arbitrators from among the members of the various CPR Panels of Distinguished Neutrals, allowing each side challenges for cause
and three peremptory challenges each. 
 10.5.4 In the event the Parties cannot agree upon procedures for discovery and conduct
of the hearing meeting the schedule set forth in Section 10.5.2, then the arbitrator(s) shall set dates for the hearing, any post-hearing briefing, and the issuance of the award in accord with the schedule set forth in Section 10.5.2. The
arbitrator(s) shall provide for discovery according to those time limits, giving recognition to the understanding of the Parties that they contemplate reasonable discovery, including document demands and depositions, but that such discovery be
limited so that the schedule set forth in Section 10.5.2 may be met without difficulty. In no event will the arbitrator(s), absent agreement of the Parties or a showing of good cause, allow more than a total of [**] days for the hearing or
permit either side to obtain more than a total of forty (40) hours of deposition testimony from all witnesses, including both fact and expert witnesses, or serve more than twenty (20) individual requests for documents, including subparts,
or twenty (20) individual requests for admission or interrogatories, including subparts (not including admissions regarding authenticity of documents). Multiple hearing days will be scheduled consecutively to the greatest extent possible.

 10.5.5 The arbitrator(s) must render their award by application of the substantive law of the state of New York and are not
free to apply “amiable compositeur” or “natural justice and equity.” The arbitrator(s) shall render a written opinion setting forth findings of fact and conclusions of law with the reasons therefore stated. A transcript of the
evidence adduced at the hearing shall be made and shall, upon request, be made available to either Party, and the Parties shall share the cost of such transcript. The arbitrator(s) shall have power to exclude evidence on grounds of hearsay,
prejudice beyond its probative value, redundancy, or irrelevance and no award shall be overturned by reason of such ruling on evidence. To the extent possible, the arbitration hearings and award will be maintained in confidence. 

10.5.6 In the event the panel’s award exceeds $[**] in monetary damages or includes or consists of equitable relief, or rejects a
claim in excess of that amount or for that relief, then the losing Party may obtain review of the arbitrators’ award or decision by a single appellate arbitrator (the “Appeal Arbitrator”) selected from the CPR Panels of Distinguished
Neutrals by agreement or, failing agreement within seven working days, pursuant to the selection procedures specified in Section 10.5.3. If CPR cannot provide such services, the Parties will together select another provider of arbitration
services that can. No Appeal Arbitrator shall be selected unless he or she can commit to rendering a decision within [**] days following oral argument. Any such review must be initiated within [**] days following the rendering of the award
referenced in Section 10.5.5. 
 10.5.7 The Appeal Arbitrator will make the same review of the arbitration panel’s
ruling and its bases that the U.S. Court of Appeals of the Circuit where the arbitration hearings are held would make of findings of fact and conclusions of law rendered by a district court after a bench trial and then modify, vacate or affirm the
arbitration panel’s award or decision accordingly, or 

  
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remand to the panel for further proceedings. The Appeal Arbitrator will consider only the arbitration panel’s findings of fact and conclusions of law, pertinent portions of the hearing
transcript and evidentiary record as submitted by the Parties, opening and reply briefs of the Party pursuing the review, and the answering brief of the opposing Party, plus a total of no more than four (4) hours of oral argument evenly divided
between the Parties. The Party seeking review must submit its opening brief and any reply brief within [**] and [**] days, respectively, following the date of the award under review, whereas the opposing Party must submit its responsive brief within
[**] days of that date. Oral argument shall take place within [**] months after the date of the award under review, and the Appeal Arbitrator shall render a decision within [**] days following oral argument. That decision will be final and not
subject to further review, except pursuant to the Federal Arbitration Act. 
 10.5.8 The Parties’ consent to the
jurisdiction of the Federal District Court for the district in which the arbitration is held solely for the enforcement of these provisions and the entry of judgment on any award rendered hereunder (including after review by the Appeal Arbitrator
where such an appeal is pursued). Should such court for any reason lack jurisdiction, any court with jurisdiction shall act in the same fashion. 
 10.5.9 Each Party has the right before or, if the arbitrator(s) cannot hear the matter within an acceptable period, during the arbitration to seek and obtain from a court of competent jurisdiction
provisional remedies such as attachment, preliminary injunction, replevin, etc. to avoid irreparable harm, maintain the status quo, or preserve the subject matter of the arbitration. 
 EACH PARTY HERETO WAIVES ITS RIGHT TO TRIAL OF ANY ISSUE BY JURY. 
 EACH PARTY HERETO WAIVES ANY
CLAIM TO PUNITIVE, EXEMPLARY OR MULTIPLIED DAMAGES FROM THE OTHER. 
 EACH PARTY HERETO WAIVES ANY CLAIM OF CONSEQUENTIAL DAMAGES FROM THE OTHER
(OTHER THAN AS SET FORTH IN ARTICLE VIII). 
 EACH PARTY HERETO WAIVES ANY CLAIM FOR ATTORNEYS’ FEES AND COSTS AND PREJUDGMENT
INTEREST (OTHER THAN PURSUANT TO ARTICLE VIII) FROM THE OTHER. 
 ARTICLE XI 

MISCELLANEOUS 
 11.1 Governing Law and Jurisdiction. The validity, construction and performance of this Agreement will be governed by and construed in accordance with the substantive laws of the State of New York
excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. 

11.2 Force Majeure. Neither Party will be held liable or responsible to the other Party nor be deemed to have defaulted under or
breached this Agreement for failure or delay in fulfilling or performing any term, other than an obligation to make payments hereunder, when such failure or delay is caused by or results from fire, floods, embargoes, government

  
 40 

 
regulations, prohibitions or interventions, war, acts of war (whether war be declared or not), insurrections, riots, civil commotions, terrorism, acts of God or any other cause beyond the
reasonable control of the affected Party to anticipate, prevent, avoid or mitigate (a “Force Majeure Event”); provided that (i) the affected Party provides prompt written notice to the other Party of such failure or delay,
(ii) the affected Party uses Commercially Reasonable Efforts to mitigate the effects of the Force Majeure Event, and (iii) the affected Party immediately resumes performance upon cessation of the Force Majeure Event. Notwithstanding the
foregoing, any failure or delay in fulfilling a term shall not be considered a result of a Force Majeure Event if it arises from a failure of COBI or AVEO to comply with applicable laws. 

11.3 Further Assurances. Each Party hereto agrees to perform such acts, execute such further instruments, documents or
certificates, and provide such cooperation in proceedings and actions as may be reasonably requested by the other Party in order to carry out the intent and purpose of this Agreement. 

11.4 Notices. Any notice required or permitted to be given under this Agreement will be in writing and will be deemed to have been
properly given if delivered, in person or by a internationally recognized overnight courier, to the addresses given below or such other addresses as may be designated in writing by the Parties from time to time during the Term. 

 

			
	In the case of AVEO:	  	 75 Sidney Street
 Cambridge, MA
02139
 Attention: Chief Business Officer

		
	 With a copy to:
	  	Vice President, Corporate Counsel
		
	 In the case of COBI:
	  	 800/850 Ridgeview Road

Horsham, PA 19044
 Attention:
President
  
 and

 
 Attention: Vice President, Patents

		
	 With a copy to:
	  	 Johnson & Johnson

Patent Law Department
 One Johnson & Johnson
Plaza
 New Brunswick, NJ 08933
  

Attention: Chief Patent Counsel

  
 41 

 11.5 Assignment. 

(a) Assignment Provisions. This Agreement may not be assigned or otherwise transferred by either Party, without the
written consent of the other Party such consent not to be unreasonably withheld, conditioned or delayed; provided, however, that either Party may, without such consent, assign this Agreement, in whole or in part, (i) to any of its Affiliates,
and (ii) to a Third Party successor or purchaser of all or substantially all of its business or assets to which this Agreement relates, whether in a merger, sale of stock, sale of assets or other similar transaction, provided that, the Third
Party successor or purchaser provides written notice to the other Party that such Third Party agrees to be bound by the terms of this Agreement. Any purported assignment in violation of this Section 11.5 will be void. Any permitted assignee
shall assume all obligations of its assignor under this Agreement. 
 (b) Effect of Change of Control on
Licensed Intellectual Property. Notwithstanding anything in this Agreement to the contrary in the event of a Change of Control, as defined in paragraph (d), of AVEO, any licenses granted by AVEO to COBI under this Agreement will not include
rights or access to (i) the Patent Rights, Know-how or other intellectual property of the acquirer of AVEO or the affiliates of such acquirer (other than AVEO and its pre-acquisition Affiliates) which exist immediately prior to the closing of
such Change of Control, or (ii) to any Patent Rights, Know-how or other intellectual property generated by the acquirer or the affiliates of such acquirer (other than AVEO and its pre-acquisition Affiliates) after the closing of the Change of
Control as long as, in the case of clause (ii) such Patent Rights, Know-how or other intellectual property have not been derived from or generated using the Patent Rights, Know-how, inventions, technology and resources of AVEO (or any its
pre-acquisition Affiliates) in existence prior to the effective date of the acquisition. 
 (c) Effect of
Change of Control on Exclusivity. Notwithstanding anything in this Agreement to the contrary, in the event of a Change of Control of a Party, the provisions of Section 3.6 will not apply to programs, products, or technology based on
Know-how, or Covered by Patent Rights, owned or Controlled as of the effective date of the Change of Control by the acquiror of such Party or any affiliate of such acquiror (other than the acquired Party and the preexisting Affiliates of the
acquired Party) or that is based on such pre-existing technology. 
 (d) Definition of Change of Control.
For purposes of this Section, “Change of Control” means, with respect a Party any of the following: (i) the sale or disposition of all or substantially all of the assets of such Party or its direct or indirect parent to a Third
Party; or (ii) (x) the acquisition by a Third Party which constitutes one person, as such term is used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), together with any
of such person’s “affiliates” or “associates”, as such terms are defined in the Exchange Act, other than an employee benefit plan (or related trust) sponsored or maintained by such Party or any of its Affiliates, of more
than fifty percent (50%) of the outstanding shares of voting capital stock of such Party or its direct or indirect parent corporation, or (y) the acquisition, merger or consolidation of such Party or its direct or indirect parent with or
into another entity, other than, in the case of this clause (y), an acquisition or a merger or consolidation of such Party or its direct or indirect parent in which the holders of shares of voting capital stock of such Party or its direct or
indirect parent, as the case may be, immediately prior to such acquisition, merger or consolidation will beneficially own, directly or indirectly, at least fifty percent (50%) of the shares of voting capital stock of the acquiring third party
or the surviving corporation in such acquisition, merger or consolidation, as the case may be, immediately after such acquisition, merger or consolidation. 

  
 42 

 11.6 Affiliate Performance. Any obligation of COBI under or pursuant to this
Agreement may be satisfied, met or fulfilled, in whole or in part, at COBI’s sole and exclusive option, either by COBI directly or by any Affiliate or Sublicensee of COBI that COBI causes to satisfy, meet or fulfill such obligation, in whole or
in part. 
 11.7 Amendment. The Parties hereto may amend, modify or alter any of the provisions of this Agreement, but
only by a written instrument duly executed by both Parties hereto. 
 11.8 Entire Agreement. This Agreement, along with
all schedules and exhibits attached hereto, contains the entire understanding of the Parties with respect to the subject matter hereof and supersedes all prior agreements, whether written or oral. Each Party confirms that it is not relying on
any representations, warranties or covenants of the other Party except as specifically set out in this Agreement. 
 11.9 No
Benefit to Third Parties. The provisions of this Agreement are for the sole benefit of the Parties and their successors and permitted assigns, and they shall not be construed as conferring any rights in any other Persons. 

11.10 Waiver. The failure of a Party to enforce at any time for any period any of the provisions of this Agreement will not be
construed as a waiver of such provisions or of the rights of such Party thereafter to enforce each such provision. 
 11.11
No Implied Licenses. Except as expressly and specifically provided under this Agreement, the Parties agree that neither Party is granted any implied rights to or under any of the other Party’s current or future patents, trade secrets,
copyrights, moral rights, trade or service marks, trade dress, or any other intellectual property rights. 
 11.12
Relationship of the Parties. The Parties agree that their relationship established by this Agreement is that of independent contractors. Furthermore, the Parties agree that this Agreement does not, is not intended to, and shall not be
construed to, establish a partnership or joint venture, and nor shall this Agreement create or establish an employment, agency or any other relationship. Except as may be specifically provided in this Agreement, neither Party shall have any right,
power or authority, nor shall they represent themselves as having any authority to assume, create or incur any expense, liability or obligation, express or implied, on behalf of the other Party, or otherwise act as an agent for the other Party for
any purpose. 
 11.13 Severability. If any provision of this Agreement is held unenforceable by a court or tribunal of
competent jurisdiction in a final unappealable order because it is invalid or conflicts with any law of any relevant jurisdiction, then such provision will be inoperative in such jurisdiction and the remainder of this Agreement shall remain binding
upon the Parties hereto. 
 11.14 Interpretation. 

(a) General. Unless the context of this Agreement otherwise requires, (i) words of one gender include the
other gender; and (ii) words using the singular or plural number also include the plural or singular number, respectively. Whenever this Agreement refers to a number of days, unless otherwise specified, such number shall refer to calendar days.

  
 43 

 (b) Other Definitional and Agreement References. References to any
agreement, contract, statute, act, or regulation are to that agreement, contract, statute, act, or regulation as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof. 

(c) Capitalization. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein, shall
have the meaning as defined in this Agreement. 
 (d) Date References. References from or through any date
mean, unless otherwise specified, from and including or through and including, respectively. 
 (e) Schedules
and Exhibits. All Schedules and Exhibits annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. 

(f) Person References. References to any Person include the successors and permitted assigns of that Person.

 (g) References to Parts of this Agreement. References to Articles, Sections, Schedules, and Exhibits
are to Articles, Sections, Schedules, and Exhibits of this Agreement unless otherwise specified. 
 (h) Other
Definitional and Interpretative Provisions. The words “hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision
of this Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not they are in fact
followed by those words or words of like import. The word “or” is used in the inclusive sense (and/or). “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including
electronic media) in a visible form. 
 (i) Headings. The Article and Section headings contained in this
Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 (j) Expenses. Except as otherwise expressly provided in this Agreement, each Party shall pay the fees and expenses of its respective lawyers and other experts and all other expenses and costs
incurred by such Party incidental to the negotiation, preparation, execution and delivery of this Agreement. 
 11.15
Counterparts. This Agreement may be executed in any number of counterparts (including a .pdf version or by facsimile), each of which shall be deemed an original, but all of which together shall constitute one and the same document.

 [Remainder of Page Intentionally Left Blank. Signature Page Follows] 

  
 44 

 IN WITNESS WHEREOF, COBI and AVEO have caused this Agreement to be duly executed by their
authorized representatives, in duplicate on the Effective Date. 
  

			
	AVEO Pharmaceuticals, Inc.
		
	By:	 	/s/ Tuan Ha-Ngoc
	Name:	 	Tuan Ha-Ngoc
	Title:	 	CEO & President
	
	Centocor Ortho Biotech Inc.
		
	By:	 	/s/Saad Shamsi
	Name:	 	Saad Shamsi
	Title:	 	V.P. Finance & CFO

  

  
 45 

 Exhibit A 

Existing AVEO Patent Rights 
  

							
	 Country
	  	Serial No.	 	Filed	 	Status
	 [**]
	  	[**]	 	[**]	 	[**]
	 [**]
	  	[**]	 	[**]	 	[**]

 Exhibit B 

COBI Universal Calendar 
 [**] 

 Exhibit C 

Research Plan 

Overview 
 The Research
Plan provides an outline of research activities that will potentially be conducted by AVEO and COBI during the Research Term, consisting of research to support an NME Declaration and translational research to guide clinical development for the RON
program. 
 Timelines and Resource Allocations 
 Committed FTE Resources 
 The Research Plan will be supported by [**]
AVEO FTEs supported by COBI, which represents a firm commitment for 2011. 
 Estimated Out-of-Pocket Costs 

The estimated out-of-pocket Third Party costs for calendar year 2011 (including but not limited to costs associated with mouse
acquisition, microarray services, low density arrays, histopathological, and other research costs): $[**] 
 Prioritization of Research
Activities 
 The Parties agree that the scope of the activities proposed to be conducted by AVEO in the Research Plan may
require more FTEs and time than currently committed by COBI. As such, AVEO FTEs will allocated based on a prioritization of activities, with the [**]. For sake of clarity, AVEO will not be required to provide resource efforts beyond the agreed upon
FTE commitment. 

 [**] Program Translational Research Plan 

I. Executive Summary: 

Dysregulation of the RON pathway has been described in [**] tumors and is implicated in tumor [**]. It is associated with [**] in a variety of [**]
tumors. The activation of the pathway is thought to drive tumor [**]. 
 [**] is a [**] antibody designed to inhibit both [**]. 

[**] 
 In this document AVEO proposes a
translational research program aimed at facilitating the clinical development of [**] by (1) identifying tumor types/subtypes with [**], (2) discovery and validation of potential [**] for the identification of [**] and by (3) developing a rationale
for [**] for maximal clinical benefit. 
 II.Background: 
 RON/MST1R (Recepteur d’Origine Nantais) is a transmembrane receptor tyrosine kinase (RTK) frequently overexpressed in epithelial tumors. The core RON signaling pathway also includes its only
known ligand MSP (Macrophage Stimulating Protein) and Matriptase, a transmembrane serine protease that activates the inactive pro-MSP into active ligand by proteolytic cleavage. RON belongs to a distinct class of RTKs that also includes c-Met. It
displays a high degree of sequence homology to c-Met while MSP is highly homologous to HGF (Hepatocyte Growth Factor), the ligand for c-Met. RON pathway activation triggers cellular responses that are considered the [**] 

RON expression is observed [**]. A major effect of MSP/RON pathway activation is the regulation of [**]. 

RON is upregulated in [**] and its [**] cancers. [**] RON in human cancers has not been detected. The [**] of the RON pathway is tought to occur through
the [**] of the RON signaling pathway: [**] 
 Consistent with these expression patterns, [**] models leads the development of [**] and
consequently, [**] 
 It appears that RON pathway activation not only plays a role in the [**], but may also have an effect on the [**]

 In light of the ever increasing body of pre-clinical and clinical observations RON has emerged as an attractive target and led to the
discovery of AV-368. 
 The purpose of the planned translational research is to [**]. 

 III. [**] program translational program goals: 

 

	 	1.	[**] 

  

	 	•	 	 Generation of biomarker hypothesis to identify RON driven tumors 

 

	 	•	 	 [**] driving tumor growth/survival 

  

	 	•	 	 [**] biomarker hypothesis 

  

	 	•	 	 Identification of tumor types/sub-types [**] 

  

	 	•	 	 Development of clinically useful biomarkers to identify patients likely to respond to [**] treatment 

2. Evaluate [**] 
  

	 	•	 	 [**] 

  

	 	•	 	 [**] 

 3.
Elucidate the role of MSP/RON pathway activation in regulation of [**] 
  

	 	•	 	 [**] 

  

	 	•	 	 [**] 

  

	 	•	 	 [**] 

  

	 	•	 	 [**] 

 4.
Complete the development of [**] 
  

	 	•	 	 Characterization of [**] 

  

	 	•	 	 Generation of [**] 

  

	 	•	 	 Generation of [**] 

 [**]

 Rationale: The main mode of RON pathway dysregulation in human cancers appears to be through the [**], which is [**] with the [**].
Therefore, [**] of RON [**] might be especially useful to identify tumor contexts with RON pathway activation. Using its proprietary bioinformatics tools, [**]. It provides a [**] to identify tumor types or tumor cell lines with [**] and [**].

 Status: AVEO is in the process of testing the value of the [**] in tumor models. In general, tumors [**] and tumor models with [**]
are unresponsive to RON pathway inhibition. These experiments so far have demonstrated that [**]. Furthermore, these experiments also provided [**]. AVEO is currently [**] these studies to understand the relationship between [**]. 

Proposal: 
 Complete the initial
validation of the [**] using [**] tumor models with different molecular characteristics and, [**]. The expected outcome of this exercise will be the [**]. 
 Further test the [**] in additional human xenografts, [**] and primary tumor explants. These tumors will be selected [**] and [**] will be predicted prior to the experiment. 

 Use the [**] for the selection of clinical indications. Using the [**] to select tumor types/subtypes [**]
look for [**] with [**] in those tumors. Preliminary surveys revealed that RON pathway activity [**]. In particular, [**] and to a lesser extent [**] appears to have [**] and may represent potential clinical indications. 

Use the [**] as a starting point for clinical [**]. Depending on the number and the biology of [**], the development of [**] will be considered [**] and
implemented. 
 2. Evaluate [**] 
 a. [**] 
 Rationale: [**]. These observations suggest a potential therapeutic benefit [**].

 Proposal: Test the effect of [**] in tumors with [**] - to be discussed. 

b. [**] 
 Rationale: RON pathway
activation may directly or indirectly (through regulation of [**] affect [**]. It has been shown that MSP mediated RON pathway activation leads to [**] and [**] such as [**] and [**] and [**] tumor models. It has also been proposed that MSP/RON
signaling could also affect the [**] and [**] the tumors to [**] by promoting [**] could lead to increased production of [**] or other [**] in the [**] and potentially contributing to [**] 
 Proposal: [**] in combination with [**] in tumors [**], different [**] - to be discussed. 
 c. [**] 
 Rationale: In [**] cancer cell lines RON pathway activation results
in the [**] of an [**] which leads to [**] and [**] in vitro. Inhibition of RON [**] tumor cells to [**] 
 Proposal: Test [**]
cytotoxic agents in tumor models [**] - to be discussed. 
 d. Investigate [**] treatment 

Rationale: Treatment with [**] may trigger the activation of [**] and [**]. The result is the escape from [**] 

Proposal: Treat tumors [**] and collect tumors with [**]. Analyze the activation state of various signaling pathways to identify [**] and test the
[**]. 
 3. Role of MSP/RON pathway activation in regulation of [**] 

a. Effect on [**] 

 Rationale: In normal physiologic conditions, MSP/RON signaling plays a role in [**] and in the [**]
However, the role of MSP/RON signaling in the regulation of [**] not understood. 
 Proposal: Investigate the effect of RON pathway
inhibition on [**] (which have been well-characterized for [**]. The expression of MSP/RON on [**] analyzed and the effect of [**] and [**] will be also be characterized. The anti-tumor effect of these potential changes on [**] will also be
assessed. 
 b. MSP/RON Pathway Activation [**] 
 Rationale: One of the most recognizable effects of MSP-mediated RON pathway activation in vitro is the [**] These are all processes involved in [**]. It has also been shown in [**] that
RON-driven tumors are capable of [**] their ability to [**] is enhanced by elevated [**]. 
 Status: AVEO has developed [**] tumor models
based on the [**]. The ability of these models to [**] is currently being assessed. 
 Proposal: 

 

	•	 	 Analyze the effect of [**] by treating cells with [**] and following the [**]. 

 

	•	 	 Engineer [**] and test their [**] tumor models in both [**]. 

 

	•	 	 Demonstrate the central role of MSP/RON signaling in [**] 

 c. MSP/RON Signaling and [**] 
 Rationale: MSP/RON-driven tumor models [**] with high
frequency. MSP [**] activates RON [**] 
 Status: [**] and [**] have been engineered [**]. The ability of these tumor cells to
activate[**] is being tested after [**] model [**] tumor [**]. 
 Proposal: Develop [**] tumor models and demonstrate after [**] that
tumor [**] results in [**]. 
 4. Completion of the development of [**] 

A key goal of the [**] translational program is to [**] easily testable clinical hypotheses and provide guidance for clinical development. The complex
biology of RON provides a [**]. RON pathway activation plays a role in [**] and potentially in the regulation of [**]. 
 Investigation of these
[**] processes requires tumor models with [**]. However, one of the difficulties is that [**] is unable to activate the [**]. Fortunately, [**] is capable of activating the [**] receptor rendering feasible the generation of [**] which the [**] is
replaced by the [**]. 

 Another challenge in modeling and manipulating [**] is the inability of human RON specific antibodies, [**]

 a. Characterization of [**] RON inhibitory antibody 
 Rationale: To understand the role of MSP/RON on the [**] the ability to [**]. This would be facilitated by the availability of inhibitory antibodies specific to [**]. 

Status: AVEO has discovered potential [**] RON [**] antibodies [**]. Candidate [**] antibodies are currently in production for complete in vitro
and in vivo characterization. 
 Proposal: AVEO proposes the [**] these antibodies and their subsequent use in various tumor
models using [**]. 
 b. Generation of [**] 
 Rationale: Since [**] is capable of functionally replacing [**] it is possible to [**] allowing the development of [**] tumor models [**]. 
 Status: Using a [**] approach AVEO [**] background will permit [**] allowing the investigation of pathway interaction and the effect of [**]. 
 Proposal: AVEO proposes the establishment of [**] mice in both [**] backgrounds to support experimental work. 
 c. Generation of [**] tumor model 
 Rationale: Increased RON expression has been shown to
[**] overexpression of RON drives [**]. This model will allow the investigation of the role of RON pathway activation in the [**] and the assessment of [**] activity in the most relevant tissue context. 

Status: AVEO is using the [**] to generate a [**] model with [**] RON expression in a [**]. Currently, the project is in the [**]. 

Proposal: AVEO proposes the full development of the [**] model and the subsequent establishment of a [**] clinical development for the treatment of [**].

 NME Readiness Workplan 

 

													
	 [**]
	  	
Guideline
	  	Time to
Complete
(months)	 	Target
Completion
Date	  	FTEs	 	Resp.
	 3
	  	[**]	  	Characterized	  		 		  		 	A
	Lead mAb Characteristics
	 10
	  	[**] for the [**] Development Advisory Committee (PDAC) approval,	  	Ideally including a [**]	  	[**]	 		  	[**]	 	[**]
	 12
	  	[**]	  	[**]	  		 		  		 	[**]
	 15
	  	[**]	  	[**]	  	[**]	 		  	[**]	 	[**]
	[**]
	In vitro
	 20
	  	Robust [**] (to be adapted for [**]). Suggestion: explore effect on [**] and [**]	  	Identified	  		 		  		 	[**]
	 22
	  	[**]	  	Considered	  		 		  		 	[**]
	 [**]

	 23
	  	[**]	  		  	[**]	 		  	[**]	 	[**]

  

			
	 Biotech CoE Collaboration Forum
	 	Confidential

 NME Readiness Workplan 

 

													
	 [**]
	  	Guideline	  	Time to
Complete
(months)	 	Target
Completion
Date	 	FTEs	 	Resp.
	 26
	  	[**] confirmation [**] least [**]	  		  	[**]	 	[**]	 	[**]	 	[**]
	 [**]
	  		  		  		 		 		 	
	 28
	  	[**] assessment of [**] (e.g. what level of [**] [**] is required for effect in pre-clinical models) and downstream [**] with preference for [**] in tumor tissue or
circulation	  		  	[**]	 		 	[**]	 	[**]

  

			
	Biotech CoE Collaboration Forum	 	Confidential

 Responsibility 
  

	A:	AVEO 

  

	J:	J&J 

  

	J1:	 AVEO will provide: a) [**], b) [**] mg of each [**], and [**] mg [**] 

Assumptions: [**] mg/kg [**] x [**] mice/group x [**] weeks = [**] mg each antibody, plus [**] mg MsIg control), x [**] studies
plus [**]% 
 Timelines: [**] weeks (Pilot + Therapeutics + [**]%) 

Pilot: [**] weeks – [**] 
 [**] weeks – prepare [**] 
 [**] weeks – [**] portion of study –
[**] 
 Therapeutics: [**] weeks – prepare [**] 

[**] weeks – [**] portion of study 
 Resources: [**] weeks @ [**] FTE – cell culture 
 [**] weeks @ [**] FTE
– in vivo 

  

			
	Biotech CoE Collaboration Forum	 	Confidential

 Responsibility Cont’d 

 

	A:	AVEO 

  

	J:	J&J 

  

	J2:	J&J will pursue [**] as follows: 

 [**]

 Assuming that AVEO [**] in functional assays, J&J will perform ([**]) a [**] study in [**] with a, b, c, and d. in order to decide on the
[**]. 
 AVEO will provide technical reports for the [**] and [**]. These documents are a [**] for [**]. 

  

			
	Biotech CoE Collaboration Forum	 	Confidential

 Exhibit D 

Definition of RON Index 
  

			
	 Symbol
	  	 Gene ID

	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]
	 [**]
	  	[**]

 Exhibit E 

Form of Press Release 
  

			
	

	  	NEWS RELEASE

 DRAFT FOR INTERNAL REVIEW ONLY 
 Investor Contact: 
 Monique Allaire 

AVEO Pharmaceuticals, Inc. 
 (617)
299-5810 
 Media Contact: 
 Dan
Budwick 
 Pure Communications 
 (973)
271-6085 
 AVEO Pharmaceuticals Enters into Worldwide License Agreement with Centocor Ortho 

Biotech to Develop and Commercialize RON-Targeted Antibodies 
 CAMBRIDGE, Mass., May 31, 2011 – AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) today announced it has entered into an exclusive license agreement with Centocor Ortho Biotech Inc. for the
worldwide development and commercialization of AVEO’s internally-discovered antibodies targeting the RON (Recepteur d’Origine Nantais) receptor. The RON pathway is believed to be involved in several aspects of cancer development including
regulation of tumor growth, survival and metastasis, and bone disruption. In preclinical studies, AVEO’s proprietary anti-RON antibodies have demonstrated strong anti-tumor activity. 
 AVEO is initially receiving $15 million. Under the terms of the license agreement, AVEO will receive the first half of this amount as an up-front payment from Centocor Ortho Biotech. Through a separate
equity private placement and stock purchase agreement, the second half will be received through the sale of newly issued shares of AVEO common stock to an affiliate of Centocor Ortho Biotech, Johnson & Johnson Development Corporation. Under
the license agreement, AVEO is eligible to receive up to $540 million in milestone payments based upon the achievement of specified development, regulatory and commercialization goals. Upon commercialization, AVEO will be entitled to a tiered,
double-digit royalty on net sales worldwide. Centocor Ortho Biotech will be responsible for all clinical development, manufacturing, and commercialization activities and costs. Centocor Ortho Biotech will also fund certain research conducted by
AVEO, including translational research studies using its Human Response PlatformTM to identify biomarkers for patients most likely to benefit from treatment with RON-targeted antibodies. 

 “We are delighted to enter into this strategic alliance,” said Elan Ezickson, executive vice
president and chief business officer of AVEO. “We believe that the RON pathway is a promising novel target for combating cancer growth and progression. This license agreement highlights the broad potential of our unique monoclonal antibody
R&D capabilities and further supports AVEO’s strategy to maximize our proprietary cancer biology platform to build a sustainable cancer therapeutics company.” 
 RON, or MST1R, receptor tyrosine kinase is a member of the c-MET RTK family. Published research has shown that over-expression of RON has been observed in multiple solid tumor types including breast,
colorectal, non-small cell lung, glioblastoma multiforme (GBM), prostate, pancreatic, ovarian and bladder cancers, and is associated with disease progression and metastasis. 
 AVEO’s research of RON biology has been aided by its novel, genetically defined, in vivo murine tumor models and related bioinformatics tools. In AVEO’s proprietary in
vivo models, both wild-type RON and ROND160 have been shown to potently drive tumor growth, with AVEO’s anti-RON antibodies demonstrating strong anti-tumor activity. AVEO has also utilized
its unique bioinformatics tools for biomarker research and to generate a RON pathway gene index that quantifies the level of RON pathway activation. AVEO has used this index to identify human tumor cell lines with high RON pathway activity, and has
demonstrated in preclinical models that the inhibition of RON function by anti-RON antibodies potently inhibited tumor cell growth and survival. These studies provided preclinical evidence of the potential benefits of RON inhibition and identified a
genetic context in which RON inhibition may have therapeutic benefit. 
 About AVEO 

AVEO Pharmaceuticals (NASDAQ: AVEO) is a cancer therapeutics company committed to discovering, developing and commercializing targeted therapies to impact
patients’ lives. The company’s lead product candidate, tivozanib, is currently being investigated in a global, randomized Phase 3 clinical trial called TIVO-1 comparing tivozanib to sorafenib in patients with advanced renal cell carcinoma,
as well as additional clinical studies in other solid tumor types. AVEO’s second most advanced product candidate, ficlatuzumab (AV-299), is a potent, functional anti-HGF/c-MET pathway antibody that is currently in Phase 2 clinical development.
AVEO’s proprietary Human Response PlatformTM is designed to offer the company a unique advantage in cancer drug development and has provided a discovery engine for multiple therapeutic targets. This approach has resulted in a promising
pipeline of monoclonal antibodies against novel targets including HGF, ErbB3, RON, Notch and FGFR. For more information, please visit the company’s website at www.aveopharma.com. 

 Forward-looking Statements 
 Any statements in this press release about our future expectations, plans and prospects, including statements about: the relationship of the RON receptor to cancer development; future milestone-based
payments, research funding or royalties which may be paid by Centocor Ortho Biotech to AVEO; the potential of our antibody research and development capabilities; the potential of our cancer biology platform to offer a unique advantage in oncology
drug development; the; and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks relating to: our ability to
successfully research, develop and obtain and maintain regulatory approvals for our product candidates; the possibility that favorable preclinical may not be predictive of the results in future preclinical and clinical trials; our inability to
obtain and maintain adequate protection for intellectual property rights relating to our product candidates and technologies; unplanned operating expenses; our inability to raise substantial additional funds to achieve our goals, including with
respect to the further development of tivozanib; competition; general economic and industry conditions; and other factors discussed in the “Risk Factors” section of our most recent Form 10-Q filed with the Securities and Exchange
Commission, and in other filings that we periodically make with the SEC. In addition, the forward-looking statements included in this press release represent our views as of the date of this press release. We anticipate that subsequent events and
developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied
upon as representing our views as of any date subsequent to the date of this press release. 

 Exhibit F 

List of Existing AVEO In-Licenses 
 1. [**] entered into as of [**] 

 Exhibit G 

Form of Quarterly Financial Report 
 Operating Company 
 Third Party Royalties 

Payable to xxxx 
 Year 
  

																							
	 J&J Exchange Rates:
	 		 				 				 				 				 			
	 EUR/USD
	 		 	 	1.000	  	 	 	1.000	  	 	 	1.000	  	 	 	1.000	  	 	 	1.000	  
	 GBP/USD
	 		 	 	1.000	  	 	 	1.000	  	 	 	1.000	  	 	 	1.000	  	 	 	1.000	  
							
	 	 	 	 	Q1	 	 	Q2	 	 	Q3	 	 	Q4	 	 	FY	 
	 Net Sales:
	 		 				 				 				 				 			
	 United States
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 France (EUR)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 France (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 United Kingdom (GBP)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 United Kingdom (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Italy (EUR)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Italy (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Germany (EUR)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Germany (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Spain (EUR)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Spain (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
	 Rest of Territory (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
		 		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Total Net Sales (USD)
	 		 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
		 		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 Royalty Due
	 	 x%
	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  	 	 	—  	  
		 		 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

 Exhibit H 

Yearly Financial Report 
 Operating Company 
 Third Party Royalties 

Payable to xxxx 
 Year 
  

													
	 	  	 	  	Local	 	  	 	 	  	Exchange
	 	  	 	  	Currency	 	  	USD	 	  	Rate
	 	  	 	  	 	 	  	USD	 	  	 
	 US Sales
	  		  				  				  	
	 Gross Sales
	  		  				  	 	—  	  	  	
	 Deductions:
	  		  				  				  	
	 Discounts
	  		  				  	 	—  	  	  	
	 Returns
	  		  				  	 	—  	  	  	
	 Rebates / Chargebacks
	  		  				  	 	—  	  	  	
	 Distribution
	  		  				  	 	—  	  	  	
		  		  				  	  
	  
	 	  	
	 Net Sales
	  		  				  	 	—  	  	  	
		  		  				  	  
	  
	 	  	
	 Royalty Due
	  	x%	  				  	 	—  	  	  	
		  		  				  	  
	  
	 	  	
					
	 	  	 	  	EUR	 	  	USD	 	  	1.000 EUR/USD
	 France Sales
	  		  				  				  	
	 Gross Sales
	  		  	 	—  	  	  	 	—  	  	  	
	 Deductions:
	  		  				  				  	
	 Discounts
	  		  	 	—  	  	  	 	—  	  	  	
	 Returns
	  		  	 	—  	  	  	 	—  	  	  	
	 Rebates / Chargebacks
	  		  	 	—  	  	  	 	—  	  	  	
	 Distribution
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Net Sales
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Royalty Due
	  	x%	  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
					
	 	  	 	  	GBP	 	  	USD	 	  	1.000 GBP/USD
	 United Kingdom Sales
	  		  				  				  	
	 Gross Sales
	  		  	 	—  	  	  	 	—  	  	  	
	 Deductions:
	  		  				  				  	
	 Discounts
	  		  	 	—  	  	  	 	—  	  	  	
	 Returns
	  		  	 	—  	  	  	 	—  	  	  	
	 Rebates / Chargebacks
	  		  	 	—  	  	  	 	—  	  	  	
	 Distribution
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Net Sales
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Royalty Due
	  	x%	  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
					
	 	  	 	  	EUR	 	  	USD	 	  	1.000 EUR/USD
	 Italy Sales
	  		  				  				  	
	 Gross Sales
	  		  	 	—  	  	  	 	—  	  	  	
	 Deductions:
	  		  				  				  	
	 Discounts
	  		  	 	—  	  	  	 	—  	  	  	
	 Returns
	  		  	 	—  	  	  	 	—  	  	  	
	 Rebates / Chargebacks
	  		  	 	—  	  	  	 	—  	  	  	
	 Distribution
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Net Sales
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Royalty Due
	  	x%	  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
					
	 	  	 	  	EUR	 	  	USD	 	  	1.000 EUR/USD
	 Germany Sales
	  		  				  				  	
	 Gross Sales
	  		  	 	—  	  	  	 	—  	  	  	
	 Deductions:
	  		  				  				  	
	 Discounts
	  		  	 	—  	  	  	 	—  	  	  	
	 Returns
	  		  	 	—  	  	  	 	—  	  	  	
	 Rebates / Chargebacks
	  		  	 	—  	  	  	 	—  	  	  	
	 Distribution
	  		  	 	—  	  	  	 	—  	  	  	
	 Net Sales
	  		  	 	—  	  	  	 	—  	  	  	
	 Royalty Due
	  	x%	  	 	—  	  	  	 	—  	  	  	
					
	 	  	 	  	EUR	 	  	USD	 	  	1.000 EUR/USD
	 Spain Sales
	  		  				  				  	
	 Gross Sales
	  		  	 	—  	  	  	 	—  	  	  	
	 Deductions:
	  		  				  				  	
	 Discounts
	  		  	 	—  	  	  	 	—  	  	  	
	 Returns
	  		  	 	—  	  	  	 	—  	  	  	
	 Rebates / Chargebacks
	  		  	 	—  	  	  	 	—  	  	  	
	 Distribution
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Net Sales
	  		  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
	 Royalty Due
	  	x%	  	 	—  	  	  	 	—  	  	  	
		  		  	  
	  
	 	  	  
	  
	 	  	
					
	 	  	 	  	 	 	  	USD	 	  	 
	 Other Territory Sales
	  		  				  				  	
	 Net Sales
	  		  				  	 	—  	  	  	
		  		  				  	  
	  
	 	  	
	 Royalty Due
	  	x%	  				  	 	—  	  	  	
		  		  				  	  
	  
	 	  	
					
	 	  	 	  	 	 	  	USD	 	  	 
	 TOTAL SALES & ROYALTY
	  		  				  				  	
	 Net Sales
	  		  				  	 	—  	  	  	
		  		  				  	  
	  
	 	  	
	 Royalty Due
	  	x%	  				  	 	—Credit Agreement

 Exhibit 10(a) 

 
  

 
 

 
 CREDIT AGREEMENT 
 dated as of 
 August 26, 2011, 

among 
 CABOT
CORPORATION, 
 and 
 Certain of its Subsidiaries, 
 as Borrowers, 

The Lenders Party Hereto 
 and 
 JPMORGAN CHASE BANK, N.A., 

as Administrative Agent 
  

 
 J.P. MORGAN
SECURITIES LLC, and 
 CITIGROUP GLOBAL MARKETS INC., 
 as Joint Lead Arrangers and Joint Bookrunners, 
 CITIBANK, N.A., 

as Syndication Agent 
 and 
 BANK OF AMERICA, N.A., and 

MIZUHO CORPORATE BANK, LTD., 
 as Co-Documentation Agents 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I Definitions
	  	 	1	  
			
	 SECTION 1.01
	 	Defined Terms	  	 	1	  
	 SECTION 1.02
	 	Classification of Loans and Borrowings	  	 	22	  
	 SECTION 1.03
	 	Terms Generally	  	 	22	  
	 SECTION 1.04
	 	Accounting Terms; GAAP	  	 	23	  
		
	 ARTICLE II The Credits
	  	 	23	  
			
	 SECTION 2.01
	 	Commitments; Existing Letters of Credit	  	 	23	  
	 SECTION 2.02
	 	Loans and Borrowings	  	 	24	  
	 SECTION 2.03
	 	Requests for Revolving Borrowings	  	 	25	  
	 SECTION 2.04
	 	Determination of Dollar Amounts	  	 	26	  
	 SECTION 2.05
	 	Swingline Loans	  	 	26	  
	 SECTION 2.06
	 	Letters of Credit	  	 	27	  
	 SECTION 2.07
	 	Funding of Borrowings	  	 	31	  
	 SECTION 2.08
	 	Interest Elections	  	 	32	  
	 SECTION 2.09
	 	Termination and Reduction of Commitments	  	 	34	  
	 SECTION 2.10
	 	Repayment of Loans; Evidence of Debt	  	 	34	  
	 SECTION 2.11
	 	Prepayment of Loans	  	 	35	  
	 SECTION 2.12
	 	Fees	  	 	36	  
	 SECTION 2.13
	 	Interest	  	 	37	  
	 SECTION 2.14
	 	Alternate Rate of Interest	  	 	38	  
	 SECTION 2.15
	 	Increased Costs	  	 	39	  
	 SECTION 2.16
	 	Break Funding Payments	  	 	40	  
	 SECTION 2.17
	 	Taxes	  	 	41	  
	 SECTION 2.18
	 	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	45	  
	 SECTION 2.19
	 	Mitigation Obligations; Replacement of Lenders	  	 	47	  
	 SECTION 2.20
	 	Defaulting Lenders	  	 	48	  
	 SECTION 2.21
	 	Expansion Option	  	 	49	  
	 SECTION 2.22
	 	Judgment Currency	  	 	51	  
	 SECTION 2.23
	 	Designated Borrowers	  	 	52	  
		
	 ARTICLE III Representations and Warranties
	  	 	53	  
			
	 SECTION 3.01
	 	Organization; Powers	  	 	53	  
	 SECTION 3.02
	 	Authorization; Enforceability	  	 	53	  
	 SECTION 3.03
	 	Governmental Approvals; No Conflicts	  	 	54	  
	 SECTION 3.04
	 	Financial Condition; No Material Adverse Change	  	 	54	  
	 SECTION 3.05
	 	Litigation and Environmental Matters	  	 	54	  
	 SECTION 3.06
	 	Compliance with Laws and Agreements; No Default	  	 	55	  
	 SECTION 3.07
	 	Investment Company Status; Margin Regulations	  	 	55	  
	 SECTION 3.08
	 	Taxes	  	 	55	  
	 SECTION 3.09
	 	ERISA	  	 	55	  
	 SECTION 3.10
	 	Disclosure	  	 	56	  
	 SECTION 3.11
	 	Subsidiaries	  	 	56	  

  
 i 

							
	 SECTION 3.12
	 	Representations as to Foreign Obligors	  	 	56	  
	 SECTION 3.13
	 	Use of Proceeds	  	 	57	  
	 SECTION 3.14
	 	OFAC	  	 	57	  
		
	 ARTICLE IV Conditions
	  	 	57	  
			
	 SECTION 4.01
	 	Effective Date	  	 	57	  
	 SECTION 4.02
	 	Each Credit Event	  	 	59	  
	 SECTION 4.03
	 	Initial Credit Event for each Additional Borrower	  	 	59	  
		
	 ARTICLE V Affirmative Covenants
	  	 	60	  
			
	 SECTION 5.01
	 	Financial Statements and Other Information	  	 	60	  
	 SECTION 5.02
	 	Notices of Material Events	  	 	61	  
	 SECTION 5.03
	 	Existence; Conduct of Business	  	 	62	  
	 SECTION 5.04
	 	Payment of Obligations	  	 	62	  
	 SECTION 5.05
	 	Maintenance of Properties; Insurance	  	 	62	  
	 SECTION 5.06
	 	Books and Records; Inspection Rights	  	 	63	  
	 SECTION 5.07
	 	Compliance with Laws	  	 	63	  
	 SECTION 5.08
	 	Use of Proceeds	  	 	63	  
		
	 ARTICLE VI Negative Covenants
	  	 	63	  
			
	 SECTION 6.01
	 	Liens	  	 	63	  
	 SECTION 6.02
	 	Fundamental Changes	  	 	65	  
	 SECTION 6.03
	 	Investments, Loans, Advances, Guarantees and Acquisitions	  	 	66	  
	 SECTION 6.04
	 	Transactions with Affiliates	  	 	66	  
	 SECTION 6.05
	 	Financial Covenants	  	 	66	  
	 SECTION 6.06
	 	Organization Documents	  	 	66	  
	 SECTION 6.07
	 	Use of Proceeds	  	 	66	  
		
	 ARTICLE VII Events of Default
	  	 	66	  
		
	 ARTICLE VIII The Administrative Agent
	  	 	69	  
		
	 ARTICLE IX Guaranty
	  	 	71	  
		
	 ARTICLE X Miscellaneous
	  	 	72	  

							
			
	 SECTION 10.01
	  	Notices	  	 	72	  
	 SECTION 10.02
	  	Waivers; Amendments	  	 	73	  
	 SECTION 10.03
	  	Expenses; Indemnity; Damage Waiver	  	 	74	  
	 SECTION 10.04
	  	Successors and Assigns	  	 	76	  
	 SECTION 10.05
	  	Survival	  	 	79	  
	 SECTION 10.06
	  	Counterparts; Integration; Effectiveness	  	 	79	  
	 SECTION 10.07
	  	Severability	  	 	80	  
	 SECTION 10.08
	  	Right of Setoff	  	 	80	  
	 SECTION 10.09
	  	Governing Law; Jurisdiction; Consent to Service of Process	  	 	80	  
	 SECTION 10.10
	  	WAIVER OF JURY TRIAL	  	 	81	  
	 SECTION 10.11
	  	Headings	  	 	81	  
	 SECTION 10.12
	  	Confidentiality	  	 	81	  
	 SECTION 10.13
	  	Interest Rate Limitation	  	 	82	  
	 SECTION 10.14
	  	USA PATRIOT Act	  	 	83	  

  
 -ii-

 SCHEDULES: 
 Schedule 1.01A – Existing Letters of Credit 
 Schedule 2.01 – Commitments 

Schedule 2.23 – Designated Borrowers 

Schedule 6.01 – Existing Liens 

EXHIBITS: 
 Exhibit A – Form of
Assignment and Assumption 
 Exhibit B – Form of U.S. Tax Certificates 
 Exhibit C – Form of Designated Borrower Request and Assumption Agreement 
 Exhibit D –
Form of Designated Borrower Notice 
 Exhibit E – Mandatory Cost 
 Exhibit F – Form of Compliance Certificate 
 Exhibit G – Form of Increasing Lender
Supplement – Existing Lender 
 Exhibit H – Form of Augmenting Lender Supplement – New Lender 

  
 -iii-

 CREDIT AGREEMENT (this “Agreement”) dated as of August 26,
2011, among CABOT CORPORATION, a Delaware corporation (the “Company”), certain Subsidiaries of the Company from time to time party hereto pursuant to Section 2.23 (each, a “Designated
Borrower” and, together with the Company, the “Borrowers” and each, a “Borrower”), the LENDERS from time to time party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent.

 The parties hereto agree as follows: 
 ARTICLE I 
 Definitions 

SECTION 1.01 Defined Terms. As used in this Agreement, the following terms have the meanings specified below:

 “ABR”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans
comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 

“Acquisition”, by any Person, means the acquisition by such Person (other than a transaction that would be
classified as a capital expenditure in accordance with GAAP), in a single transaction or in a series of related transactions, of all or any substantial portion (constituting a separate business unit) of the assets of another Person or at least a
majority of the Equity Interests with ordinary voting power of another Person, in each case whether or not involving a merger or consolidation with such other Person and whether for cash, property, services, assumption of Indebtedness, securities or
otherwise. 
 “Act” has the meaning assigned to such term in Section 10.14. 

“Adjusted LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest Period, an interest rate
per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the sum of (a) (i) the LIBO Rate for such Interest Period multiplied by (ii) the Statutory Reserve Rate, plus, without duplication (b) in the case
of Revolving Loans made by a Lender from its office or branch in the United Kingdom, the Mandatory Cost. 

“Administrative Agent” means JPMorgan Chase Bank, N.A. (including its subsidiaries and Affiliates), in its
capacity as administrative agent for the Lenders hereunder. 
 “Administrative Questionnaire” means an
Administrative Questionnaire in a form supplied by the Administrative Agent. 
 “Affiliate” means, with
respect to a specified Person, another Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

  
 1 

 “Agreed Currencies” means (a) U.S. Dollars, (b) Euro,
(c) Pounds Sterling, (d) Swiss Francs, (e) Australian Dollars, (f) Japanese Yen, (g) Canadian Dollars, (h) Singapore Dollars and (i) any other Foreign Currency acceptable to all of the Lenders. 

“Agreement” has the meaning assigned to such term in the preamble. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the greatest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus  1/2 of 1%, and (c) the Adjusted LIBO Rate for a one (1) month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus
1%; provided that, for purposes of this definition, the Adjusted LIBO Rate for any Business Day shall be based on the rate appearing on the Reuters Screen LIBOR01 (or on any successor or substitute page of such service, or any successor to or
substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable
to deposits in U.S. Dollars in the London interbank market) at approximately 11:00 a.m. London time on such Business Day. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO
Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Applicable Foreign Obligor Documents” has the meaning assigned to such term in Section 3.12(a).

 “Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments
represented by such Lender’s Commitment; provided that in the case of Section 2.20 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the percentage of the total Commitments (disregarding any
Defaulting Lender’s Commitment) represented by such Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Revolving Credit Exposure then in effect, giving effect
to any assignments and to any Lender’s status as a Defaulting Lender at the time of determination. 

“Applicable Rate” means, for any day, with respect to any ABR Loan or Eurocurrency Revolving Loan, or with
respect to the facility fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “ABR Spread”, “Eurocurrency Spread” or “Facility Fee Rate”, as the case may be, based
upon the ratings by Moody’s and S&P, respectively, applicable on such date to the Index Debt: 
  

															
	 Tier
	  	 Rating
	  	Eurocurrency
Spread	 	 	ABR Spread	 	 	Facility Fee
Rate	 
					
	 I
	  	3 A2 / A
	  	 	0.650	% 	 	 	0	% 	 	 	0.100	% 
					
	 II
	  	< A2 / A and 3 A3 / A-	  	 	0.875	% 	 	 	       0	% 	 	 	0.125	% 

  
 -2-

															
					
	 III
	  	< A3 / A- and 3 Baa1 / BBB+	  	 	          0.975	% 	 	 	0	% 	 	 	           0.150	% 
					
	 IV
	  	< Baa1 / BBB+ and 3 Baa2 / BBB	  	 	1.050	% 	 	 	              0.050	% 	 	 	0.200	% 
					
	 V
	  	£ Baa3 / BBB-	  	 	1.125	% 	 	 	0.125	% 	 	 	0.250	% 

 For purposes of the foregoing, (i) if either Moody’s or S&P shall not have in effect a
rating for the Index Debt (other than by reason of the circumstances referred to in the last sentence of this definition), then such rating agency shall be deemed to have established a rating in Tier V; (ii) if the ratings established or deemed
to have been established by Moody’s and S&P for the Index Debt shall fall within different Tiers, the Applicable Rate shall be based on the higher of the two ratings unless one of the two ratings is two or more Tiers lower than the other,
in which case the Applicable Rate shall be determined by reference to the Tier next above that of the lower of the two ratings; and (iii) if the ratings established or deemed to have been established by Moody’s and S&P for the Index
Debt shall be changed (other than as a result of a change in the rating system of Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency, irrespective of when notice of
such change shall have been furnished by the Company to the Agent and the Lenders pursuant to Section 5.01 or otherwise. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and
ending on the date immediately preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt
obligations, the Company and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the
Applicable Rate shall be determined by reference to the rating most recently in effect prior to such change or cessation. 

“Applicant Borrower” has the meaning assigned to such term in Section 2.23(b). 

“Approved Fund” means any Person (other than a natural person) that is engaged in making, purchasing, holding or
investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that
administers or manages a Lender. 
 “Arrangers” means, collectively, J.P. Morgan Securities LLC and
Citigroup Global Markets Inc., in their capacity as Joint Lead Arrangers and Joint Bookrunners. 
 “Assignment and
Assumption” means an assignment and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by Section 10.04), and accepted by the Administrative Agent, in the form of
Exhibit A or any other form approved by the Administrative Agent. 
 “Augmenting Lender” has the
meaning assigned to such term in Section 2.21(a). 

  
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 “Australian Dollars” means the lawful currency of Australia.

 “Availability Period” means the period from and including the Effective Date to but excluding the
earlier of the Maturity Date and the date of termination of the Commitments. 
 “Bankruptcy Event”
means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with
the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such
proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof,
provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States of America or from the enforcement of judgments or writs of attachment on
its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person. 

“Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

“Borrower” and “Borrowers” each has the meaning assigned to such term in the preamble.

 “Borrowing” means (a) Revolving Loans of the same Type and currency, made, converted or
continued on the same date and, in the case of Eurocurrency Loans, as to which a single Interest Period is in effect, or (b) a Swingline Loan. 
 “Borrowing Request” means a request by the Company, for itself or on behalf of a Designated Borrower, for a Revolving Borrowing in accordance with Section 2.03.

 “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in
New York City are authorized or required by law to remain closed; provided that (a) when used in connection with a Eurocurrency Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings
in the applicable Agreed Currency in the London interbank market or (other than in respect of Borrowings denominated in U.S. Dollars or Euro) the principal financial center of such Agreed Currency, and (b) when used in connection with a
Eurocurrency Loan denominated in Euro, the term “Business Day” shall also exclude any day on which the TARGET payment system is not open for the settlement of payments in Euro. 

“Canadian Dollars” means the lawful currency of Canada. 

“Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under
any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and
the amount 

  
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of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. 
 “Change in Control” means an event or series of events by which: 
 (a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, but excluding members of the Cabot family, any employee benefit
plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire (such right, an “option right”),
whether such right is exercisable immediately or only after the passage of time), directly or indirectly, of twenty-five percent (25%) or more of the equity securities of the Company entitled to vote for members of the board of directors or
equivalent governing body of the Company on a fully-diluted basis (and taking into account all such securities that such person or group has the right to acquire pursuant to any option right); or 

(b) during any period of twenty-four (24) consecutive months, a majority of the members of the board of directors or other
equivalent governing body of the Company cease to be composed of individuals (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent
governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body or (iii) whose election or nomination to that
board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body
(excluding, in the case of both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened
solicitation of proxies or consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors). 

“Change in Law” means (a) the adoption of any law, rule, regulation, or treaty (including any rules or
regulations issued under or implementing any existing law) after the date of this Agreement, (b) any change in any law, rule, regulation or treaty or in the interpretation or application thereof by any Governmental Authority after the date of
this Agreement or (c) compliance by any Lender or the Issuing Bank (or by any applicable lending office of such Lender or the Issuing Bank) with any request, guideline or directive (whether or not having the force of law) of any Governmental
Authority made or issued after the date of this Agreement; provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or
directives thereunder or issued in connection therewith or in implementation thereof, and (y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or
any successor or similar authority) or the United States of America or foreign regulatory authorities, in each case under Basel III, shall in each case be deemed to be a “Change in Law” regardless of the date enacted, adopted, issued or
implemented. 

  
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 “Charges” has the meaning assigned to such term in
Section 10.13. 
 “Class”, when used in reference to any Loan or Borrowing, refers to
whether such Loan, or the Loans comprising such Borrowing, are Revolving Loans or Swingline Loans. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Commitment” means, with respect to each Lender, the commitment of such Lender to make Revolving Loans and to
acquire participations in Letters of Credit and Swingline Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Revolving Credit Exposure hereunder, as such commitment may be (a) reduced from
time to time pursuant to Section 2.09, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 10.04, and (c) increased from time to time pursuant to
Section 2.21. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The initial
aggregate amount of the Lenders’ Commitments is $550,000,000. 
 “Company” has the meaning assigned
to such term in the preamble. 
 “Compliance Certificate” means a certificate substantially in the form
of Exhibit F. 
 “Computation Date” has the meaning assigned to such term in
Section 2.04. 
 “Consolidated” or “consolidated” means, with
reference to any term defined herein, that term as applied to the accounts of the Company and its Subsidiaries, consolidated in accordance with GAAP. 
 “Consolidated EBITDA” means, with reference to any period, Consolidated Net Income for such period plus (a) without duplication, to the extent deducted from revenues in
determining such Consolidated Net Income, (i) Consolidated Interest Charges, (ii) the provision for federal, state, local and foreign income taxes payable, (iii) depreciation expense, (iv) amortization expense, and (v) other
non-cash charges, minus (b) to the extent included in such Consolidated Net Income, all non-cash income or gains (including income tax benefits), all calculated for the Company and its Subsidiaries in accordance with GAAP on a
consolidated basis. 
 “Consolidated Interest Charges” means, with reference to any period, for the
Company and its Subsidiaries calculated in accordance with GAAP on a consolidated basis (without duplication) for such period, the sum of all interest, premium payments, debt discount, fees, charges and related expenses of the Company and its
Subsidiaries in connection with borrowed money (including capitalized interest and other fees and charges incurred under any Securitization Transactions) or in connection with the deferred purchase price of assets, in each case to the extent treated
as interest in accordance with GAAP. 
 “Consolidated Interest Coverage Ratio” means, as of the last day
of any fiscal quarter, the ratio of (a) Consolidated EBITDA for the Reference Period ended on such date to (b) the cash portion of Consolidated Interest Charges for the Reference Period ended on such date. 

  
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 “Consolidated Leverage Ratio” means, as of the last day of any
fiscal quarter, the ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the Reference Period ended on such date. 
 “Consolidated Net Income” means, with reference to any period, the net income (or loss) of the Company and its Subsidiaries calculated in accordance with GAAP on a consolidated
basis (without duplication) for such period. 
 “Consolidated Tangible Net Worth” means, as of any date,
(i) the consolidated stockholders’ equity of the Company as of such date (calculated excluding adjustments to translate foreign assets and liabilities for changes in foreign exchange rates made in accordance with Financial Accounting
Standards Board Statement Nos. 52 and 133), minus (ii) to the extent reflected in determining such consolidated stockholders’ equity as of such date, the amount of Intangible Assets of the Company and its Subsidiaries on a
consolidated basis. 
 “Consolidated Total Debt” means, as of any date of determination, the outstanding
principal amount as of such date of all Indebtedness of the Company and its Subsidiaries on a consolidated basis. 

“Consolidated Total Tangible Assets” means the aggregate amount of all assets of the Company and its Subsidiaries
on a consolidated basis other than Intangible Assets. 
 “Contractual Obligation” means, as to any
Person, any provision of any security issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Credit Party” means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

 “Default” means any event or condition which constitutes an Event of Default or which upon notice,
lapse of time or both would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender”
means any Lender that (a) has failed, within two (2) Business Days after the date required to be funded or paid, to (i) fund any portion of its Loans, (ii) fund any portion of its participations in Letters of Credit or Swingline
Loans or (iii) pay over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such Lender notifies the Administrative Agent in writing that such failure is the result of such
Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) has notified any Borrower or any Credit Party in writing, or has
made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Lender’s good
faith determination that a condition precedent (specifically identified and including the particular 

  
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default, if any) to funding cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three (3) Business Days after request
by a Credit Party, acting in good faith, to provide a certification in writing from an authorized officer of such Lender that it will comply with its obligations (and is financially able to meet such obligations) to fund prospective Loans and
participations in then outstanding Letters of Credit and Swingline Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon such Credit Party’s receipt of such
certification in form and substance satisfactory to it and the Administrative Agent, or (d) has, or has a Lender Parent that has, become the subject of a Bankruptcy Event. 

“Designated Borrower” has the meaning assigned to such term in the preamble. 

“Designated Borrower Notice” has the meaning assigned to such term in Section 2.23(b). 

“Designated Borrower Request and Assumption Agreement” has the meaning assigned to such term in
Section 2.23(b). 
 “Designated Jurisdiction” means any of Burma/Myanmar, Cuba, Iran, Libya,
North Korea, Sudan or any other country or territory to the extent that such country or territory itself is the subject of any Sanction. 
 “Disclosed Litigation” has the meaning assigned to such term in Section 3.05(a). 
 “Dollar Amount” of any currency at any date means (a) if such currency is U.S. Dollars, the amount of such currency, or (b) if such currency is a Foreign Currency, the
equivalent in such currency of U.S. Dollars, calculated on the basis of the Exchange Rate for such currency on or as of the most recent Computation Date provided for in Section 2.04. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the
United States of America. 
 “Effective Date” means the date on which the conditions specified in
Section 4.01 are satisfied (or waived in accordance with Section 10.02). 
 “Environmental
Laws” means all laws, rules, regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating to pollution and the
protection of the environment, or the release of any Hazardous Material. 
 “Environmental Liability”
means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Company or any Subsidiary directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release
of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

  
 -8-

 “Equity Interests” means shares of capital stock, partnership
interests, membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such
equity interest. 
 “Equivalent Amount” of any currency with respect to any amount of U.S. Dollars at
any date means the equivalent in such currency of such amount of U.S. Dollars, calculated on the basis of the Exchange Rate for such other currency at 11:00 a.m. London time on the date on or as of which such amount is to be determined. 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with any Borrower, is
treated as a single employer under subsections (b) and (c) of Section 414 of the Code (and, solely for the purposes of Section 412 of the Code, including subsections (m) and (o) of Section 414 of the Code).

 “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of
ERISA or the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day notice period is waived); (b) the existence with respect to any Multiemployer Plan of an “accumulated funding deficiency” (as
defined in Sections 412 and 431 of the Code or Sections 302 and 304 of ERISA), whether or not waived, or the determination that any Multiemployer Plan is in either “endangered status” or “critical status” (as defined in
Section 432 of the Code or Section 305 of ERISA), or the failure of any Plan that is not a Multiemployer Plan to satisfy the minimum funding standards of Sections 412 and 430 of the Code or Sections 302 and 303 of ERISA, or the
determination that any Plan that is not a Multiemployer Plan is in “at-risk” status (as defined in Section 430(i) of the Code or Section 303(i) of ERISA) or the imposition of any lien on any Borrower or any of its ERISA
Affiliates pursuant to Section 430(k) of the Code or Section 303(k) of ERISA; (c) the filing pursuant to Section 412(c) of the Code or Section 303(c) of ERISA of an application for a waiver of the minimum funding standard
with respect to any Plan; (d) the incurrence by any Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to the termination of any Plan; (e) the receipt by any Borrower or any ERISA Affiliate from
the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to administer any Plan; (f) the incurrence by any Borrower or any of its ERISA Affiliates of any liability with
respect to the withdrawal or partial withdrawal from any Multiemployer Plan; (g) the receipt by any Borrower or any ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from any Borrower or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA; (h) the withdrawal by any Borrower or any ERISA
Affiliate from a Plan subject to Section 4063 of ERISA during a plan year in which it was a “substantial employer” (as defined in Section 4001(a)(2) of ERISA); (i) the engagement by any Borrower or any ERISA Affiliate in a
transaction that could reasonably be expected to be subject to Section 4069 or Section 4212(c) of ERISA; (j) the engagement by any Borrower in a non-exempt “prohibited transaction” (as defined under Section 406 of ERISA
or Section 4975 of the Code) or a breach of a fiduciary duty under ERISA that could reasonably be expected to result in 

  
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liability to the Company or any Subsidiary; (k) notification by the IRS of the failure of any Plan (and any related trust) that is intended to be qualified under Sections 401 and 501 of the
Code to be so qualified; (l) the commencement, existence or threatening of a claim, action, suit or audit or other regulatory examination with respect to any Plan, other than a routine claim for benefits; or (m) the occurrence of an event
with respect to any employee benefit plan described in Section 3(2) of ERISA that results in the imposition of an excise tax or any other liability on any Borrower or of the imposition of a Lien on the assets of any Borrower. 

“Euro” or “€” means the single currency of the participating member states of the
European Union. 
 “Eurocurrency”, when used in reference to any Loan or Borrowing, refers to whether
such Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Eurocurrency Payment Office” of the Administrative Agent shall mean, for each Foreign Currency, the office, branch, affiliate or correspondent bank of the Administrative Agent for
such currency as specified from time to time by the Administrative Agent to each Borrower and each Lender. 

“Exchange Rate” means, on any day, with respect to any Foreign Currency, the rate at which such Foreign Currency
may be exchanged into U.S. Dollars, as set forth at approximately 11:00 a.m., Local Time, on such date on the Reuters World Currency Page for such Foreign Currency. In the event that such rate does not appear on any Reuters World Currency Page, the
Exchange Rate with respect to such Foreign Currency shall be determined by reference to such other publicly available service for displaying exchange rates as may be reasonably selected by the Administrative Agent or, in the event no such service is
selected, such Exchange Rate shall instead be calculated on the basis of the arithmetical average of the spot rates of exchange of the Administrative Agent for such Foreign Currency on the London market at 11:00 a.m., Local Time, on such date for
the purchase of U.S. Dollars with such Foreign Currency, for delivery two (2) Business Days later; provided, that if at the time of any such determination, for any reason, no such spot rate is being quoted, the Administrative Agent may
use any reasonable method it deems appropriate to determine such rate, and such determination shall be conclusive absent manifest error. 
 “Existing Credit Agreement” means that certain Credit Agreement dated as of June 2, 2010, by and among the Company, the other borrowers party thereto, the lenders party
thereto and Bank of America, N.A., as administrative agent. 
 “Existing Letters of Credit” means,
collectively, the Letters of Credit listed on Schedule 1.01A. 
 “Event of Default” has the
meaning assigned to such term in Article VII. 
 “Excluded Taxes” means, with respect to any
Borrower under any Loan Document, any of the following Taxes imposed on or with respect to a Recipient: (a) income or franchise Taxes imposed on (or measured by) its overall net income (however denominated) by the United States of America, or
by the jurisdiction (or any political subdivision thereof) under the laws of which 

  
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such Recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) any branch profits Taxes imposed
by the United States of America or any similar Taxes imposed by any other jurisdiction in which any Borrower is located, (c) in the case of a Lender (other than an assignee pursuant to a request by any Borrower under
Section 2.19(b)), any withholding Taxes resulting from any law in effect (including FATCA) on such date such Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Lender’s failure
to comply with Section 2.17(f), except solely to the extent that such Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from any Borrower with
respect to such withholding Taxes pursuant to Section 2.17(a) and (d) any penalties and interest on the foregoing. 
 “FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement and any regulations or official interpretations thereof. 

“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the
next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if
such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three
(3) Federal funds brokers of recognized standing selected by it. 
 “Financial Officer” means, with
respect to any Borrower, the chief financial officer, principal accounting officer, treasurer or controller of such Borrower. 

“Foreign Currencies” means Agreed Currencies other than U.S. Dollars. 

“Foreign Currency Letter of Credit” means a Letter of Credit denominated in a Foreign Currency. 

“Foreign Obligor” means a Designated Borrower that is a Foreign Subsidiary. 

“Foreign Subsidiary” means any Subsidiary that is not a Domestic Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States of America set forth in the opinions
and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a
significant segment of the accounting profession in the United States of America, that are applicable to the circumstances as of the date of determination, consistently applied, or if the Company adopts the International Financial Reporting
Standards (“IFRS”), IFRS, consistently applied. 
 “Governmental Authority”
means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising

  
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executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 

“Guarantee” of or by any Person (the “guarantor”) means any obligation, contingent or
otherwise, of the guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation
of the guarantor, direct or indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or any security for the payment thereof, (b) to purchase or lease property, securities or services
for the purpose of assuring the holder of such Indebtedness of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the primary obligor so as to enable the primary
obligor to pay such Indebtedness or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or obligation; provided, that the term Guarantee shall not include endorsements for
collection or deposit in the ordinary course of business. The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such
Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature regulated pursuant to any Environmental Law. 

“Increasing Lender” has the meaning assigned to such term in Section 2.21(a). 

“Incremental Term Loan” has the meaning assigned to such term in Section 2.21(a). 

“Incremental Term Loan Amendment” has the meaning assigned to such term in Section 2.21(e).

 “Indebtedness” of any Person means, without duplication, (a) all obligations of such Person for
borrowed money, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments, (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person
under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding trade accounts payable in
the ordinary course of business and payable in accordance with customary practices), (f) all Indebtedness (excluding prepaid interest thereon) of another Person secured by (or for which the holder of such Indebtedness has an existing right,
contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed or is limited in recourse, (g) all Guarantees by such Person of Indebtedness of
another Person, (h) all Capital Lease Obligations of such Person, (i) all obligations, contingent or otherwise, of such Person as an account party in respect of letters of credit and letters of guaranty, (j) all obligations,
contingent or otherwise, of such Person in 

  
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respect of bankers’ acceptances, and (k) the outstanding principal amount of any Securitization Transaction of such Person, after taking into account reserve accounts. The Indebtedness
of any Person shall include the Indebtedness of any other Person (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other
relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor. 
 “Indemnified Taxes” means (a) Taxes other than Excluded Taxes and (b) Other Taxes. 
 “Index Debt” means senior, unsecured, long-term indebtedness for borrowed money of the Company that is not guaranteed by any other Person (other than a Subsidiary that is a
Designated Borrower or guarantor of the Obligations) or subject to any other credit enhancement. 
 “Ineligible
Assignee” means a (a) natural person or (b) company, investment vehicle or trust for, or owned and operated for the primary benefit of, a natural person or a relative thereof; provided that such company, investment
vehicle or trust shall not constitute an Ineligible Assignee if it (x) has not been established for the primary purpose of acquiring any Loans or Commitments, (y) is managed by a professional advisor, who is not such natural person or a
relative thereof, having significant experience in the business of making or purchasing commercial loans, and (z) has assets greater than $25,000,000 and a significant part of its activities consist of making or purchasing commercial loans and
similar extensions of credit in the ordinary course of its business. 
 “Intangible Assets” means the
amount of all unamortized debt discount and expense, goodwill, patents, trademarks, service marks, trade names, anticipated future benefit of tax loss carry-forwards, copyrights, organization or developmental expenses and other assets treated as
intangible assets under GAAP (but not in any event including deferred taxes). 
 “Interest Election
Request” means a request by the Company to convert or continue a Revolving Borrowing in accordance with Section 2.08. 
 “Interest Payment Date” means (a) with respect to any ABR Loan (other than a Swingline Loan), the last day of each March, June, September and December, (b) with respect
to any Eurocurrency Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurocurrency Borrowing with an Interest Period of more than three (3) months’ duration, each day
prior to the last day of such Interest Period that occurs at intervals of three (3) months’ duration after the first day of such Interest Period, and (c) with respect to any Swingline Loan, the day that such Loan is required to be
repaid. 
 “Interest Period” means, with respect to any Eurocurrency Borrowing, the period commencing on
the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one (1), two (2), three (3) or six (6) months thereafter, as the Company may elect; provided, that (i) if any Interest
Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurocurrency Borrowing only, such next succeeding Business Day would fall in the next calendar
month, in which case such Interest Period shall end on the next preceding Business Day 

  
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and (ii) any Interest Period pertaining to a Eurocurrency Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding
day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made
and, in the case of a Revolving Borrowing, thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing. 
 “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of capital
stock or other Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or guaranty of any obligation or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or
interest in, another Person, including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor Guarantees Indebtedness of such other Person, or (c) the purchase or other acquisition (in
one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent
increases or decreases in the value of such Investment. 
 “IRS” means the United States Internal
Revenue Service. 
 “Issuing Bank” means, as the case may be, (a) Bank of America, N.A., in its
capacity as the issuer of, and with respect to, the Existing Letters of Credit, or (b) JPMorgan Chase Bank, N.A., in its capacity as the issuer of, and with respect to, all other Letters of Credit hereunder, and its successors in such capacity
as provided in Section 2.06(i). JPMorgan Chase Bank, N.A., as Issuing Bank, may, in its discretion, arrange for one or more Letters of Credit to be issued by its Affiliates, in which case the term “Issuing Bank” shall include
any such Affiliate with respect to Letters of Credit issued by such Affiliate. 
 “Japanese Yen” or
“¥” means the lawful currency of Japan. 
 “LC Disbursement” means a payment
made by the Issuing Bank pursuant to a Letter of Credit. 
 “LC Exposure” means, at any time, the sum of
(a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrowers at such time. The LC Exposure of
any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time. 
 “Lender
Parent” means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary. 
 “Lenders” means the Persons listed on Schedule 2.01 and any other Person that shall have become a party hereto pursuant to Section 2.21 or pursuant to an
Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an 

  
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Assignment and Assumption. Unless the context otherwise requires, the term “Lenders” includes the Swingline Lender. 

“Letter of Credit” means any letter of credit issued pursuant to this Agreement, and shall include Existing
Letters of Credit. 
 “LIBO Rate” means, with respect to any Eurocurrency Borrowing for any Interest
Period, the rate appearing on, in the case of U.S. Dollars, Reuters Screen LIBOR01 Page and, in the case of any Foreign Currency, the appropriate page of such service which displays British Bankers Association Interest Settlement Rates for deposits
in such Foreign Currency (or, in each case, on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations comparable to those currently provided on such page of such service, as
determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to deposits in the applicable Agreed Currency in the London interbank market) at approximately 11:00 a.m., London time, two
(2) Business Days prior to (or, in the case of Loans denominated in Pounds Sterling, on the day of) the commencement of such Interest Period, as the rate for deposits in the applicable Agreed Currency with a maturity comparable to such Interest
Period. In the event that such rate is not available at such time for any reason (including, for the avoidance of doubt, in the event of a Eurocurrency Borrowing denominated in Singapore Dollars or any other Agreed Currency for which no screen quote
based on British Bankers Association Interest Settlement Rates is available from Reuters or such successor or substitute service), then the “LIBO Rate” with respect to such Eurocurrency Borrowing for such Interest Period
shall be the rate at which deposits in the applicable Agreed Currency in an Equivalent Amount of $5,000,000 and for a maturity comparable to such Interest Period are offered by the principal London office of the Administrative Agent (or, if
applicable, such other Eurocurrency Payment Office for such Foreign Currency) in immediately available funds in the London interbank market (or, if applicable, such other offshore interbank market for such Foreign Currency) at approximately 11:00
a.m., London time (or, if applicable, such other Local Time for such Foreign Currency), two (2) Business Days prior to (or, in the case of Loans denominated in Pounds Sterling, on the day of) the commencement of such Interest Period.

 “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge,
hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having
substantially the same economic effect as any of the foregoing) relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Loan Documents” means, collectively, this Agreement, each promissory note delivered pursuant to this Agreement,
any Letter of Credit applications, and any other agreements, instruments, documents and certificates executed by or on behalf of any Borrower and delivered to or in favor of the Credit Parties concurrently herewith or hereafter in connection with
the Transactions hereunder. 
 “Loans” means the loans made by the Lenders to the Borrowers pursuant to
this Agreement. 

  
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 “Local Time” means (a) in the case of a Loan, Borrowing or LC
Disbursement denominated in U.S. Dollars, New York City time, and (b) in the case of a Loan, Borrowing or LC Disbursement denominated in a Foreign Currency, local time (it being understood that such local time shall mean London, England time
unless otherwise notified by the Administrative Agent). 
 “Mandatory Cost” has the meaning assigned to
such term on Exhibit E. 
 “Material Adverse Effect” means a material adverse effect on
(a) the business, assets, property or financial condition of the Company and its Subsidiaries taken as a whole, or (b) the validity or enforceability of any material provision of any Loan Document or the rights or remedies of the Credit
Parties thereunder. 
 “Maturity Date” means August 25, 2016. 

“Maximum Rate” has the meaning assigned to such term in Section 10.13. 

“Moody’s” means Moody’s Investors Service, Inc. 

“Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of ERISA. 

“Non-U.S. Lender” means a Lender that is not a U.S. Person. 

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, any Borrower
arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising and including interest and fees that accrue after
the commencement by or against any Borrower of any proceeding under any debtor relief laws naming such Borrower as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“Organization Documents” means, (a) with respect to any corporation, the certificate or articles of
incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-United States jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization
and operating agreement; and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation
or organization of such entity. 
 “Other Connection Taxes” means, with respect to any Recipient, Taxes
imposed as a result of a present or former connection between such Recipient and the jurisdiction imposing 

  
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such Taxes (other than a connection arising from such Recipient having executed, delivered, enforced, become a party to, performed its obligations under, received payments under, received or
perfected a security interest under, or engaged in any other transaction pursuant to, or enforced, any Loan Document, or sold or assigned an interest in any Loan Document) and which shall, for the avoidance of doubt, be treated as Excluded Taxes.

 “Other Taxes” means any present or future stamp, court, documentary intangible, recording, filing or
similar excise or property Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, or from the registration, receipt or perfection of a security interest under, or otherwise with
respect to, any Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an assignment (other than an assignment under Section 2.19(b)). 

“Overnight Foreign Currency Rate” means, for any amount payable in a Foreign Currency, the rate of interest per
annum as determined by the Administrative Agent at which overnight or weekend deposits in such Foreign Currency (or if such amount due remains unpaid for more than three (3) Business Days, then for such other period of time as the
Administrative Agent may elect) for delivery in immediately available and freely transferable funds would be offered by the Administrative Agent to major banks in the interbank market upon request of such major banks for such Foreign Currency as
determined above and in an amount comparable to the unpaid principal amount of the related Borrowing or LC Disbursement, plus any taxes, levies, imposts, duties, deductions, charges or withholdings imposed upon, or charged to, the Administrative
Agent by any relevant correspondent bank in respect of such amount in such Foreign Currency. 

“Participant” has the meaning assigned to such term in Section 10.04(c). 

“Participant Register” has the meaning assigned to such term in Section 10.04(c). 

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity
performing similar functions. 
 “Permitted Acquisition” means any Acquisition by the Company or any
Subsidiary that satisfies the following conditions: 
 (a) in the case of an Acquisition of the Equity Interests of any Person,
the board of directors (or other comparable governing body) of such other Person shall have approved the Acquisition; and 
 (b)
(i) no Default shall exist and be continuing immediately before or immediately after giving effect thereto, (ii) the representations and warranties made by the Borrowers in any Loan Document (other than the representations and warranties
contained in Sections 3.04(b), 3.05 and 3.09) shall be true and correct in all material respects (or in all respects if the applicable representation or warranty is already qualified by concepts of materiality) on and as of the
date of such Acquisition (after giving effect thereto), and (iii) in the case of an Acquisition of any Person where the aggregate cash consideration exceeds $100,000,000, the Company shall have delivered to the Administrative Agent a
certificate demonstrating that, upon giving effect to such Acquisition on a Pro Forma Basis, the Borrowers would be in compliance with the financial 

  
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covenants set forth in Section 6.05 as of the most recent fiscal quarter for which the Company has delivered financial statements pursuant to Section 5.01(a) or
(b). 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law (other than Liens imposed under ERISA) for Taxes that are not yet due or are being contested in compliance with
Section 5.04(a); 
 (b) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s,
lessors’ and other like Liens arising in the ordinary course of business and securing obligations that are not overdue by more than thirty (30) days or are being contested in compliance with Section 5.04(a); 

(c) pledges and deposits made in the ordinary course of business in connection with workers’ compensation, unemployment insurance
and other social security laws or regulations (other than any Lien imposed under ERISA); 
 (d) deposits to secure the
performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature, in each case in the ordinary course of business; 

(e) Liens securing judgments for the payment of money not constituting an Event of Default under clause (j) of Article VII;
and 
 (f) easements, zoning restrictions, rights-of-way and similar encumbrances affecting real property that do not secure any
substantial amount and do not materially detract from the value of the affected property or materially interfere with the ordinary conduct of business of the applicable Person; 
 provided that the term “Permitted Encumbrances” shall not include any Lien securing Indebtedness. 
 “Permitted Investments” means any Investment by the Company or any Subsidiary that satisfies the following conditions: (a) no Default shall exist and be continuing immediately
before or immediately after giving effect thereto, (b) the representations and warranties made by the Borrowers in any Loan Document (other than the representations and warranties contained in Sections 3.04(b), 3.05 and
3.09) shall be true and correct in all material respects (or in all respects if the applicable representation or warranty is already qualified by concepts of materiality) on and as of the date of such Investment (after giving effect thereto),
and (c) in the case of an Investment in any Person (other than the Company or any of its Subsidiaries) where the aggregate amount of such Investment exceeds $100,000,000, the Company shall have delivered to the Administrative Agent a
certificate demonstrating that, upon giving effect to such Investment on a Pro Forma Basis, the Borrowers would be in compliance with the financial covenants set forth in Section 6.05 as of the most recent fiscal quarter for which the
Company has delivered financial statements pursuant to Section 5.01(a) or (b). 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association,
company, partnership, Governmental Authority or other entity. 

  
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 “Plan” means any employee pension benefit plan (other than a
Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which any Borrower or any of its ERISA Affiliates is (or, if such plan were terminated, would under
Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Pounds Sterling” or “£” means the lawful currency of the United Kingdom.

 “Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan
Chase Bank, N.A., as its prime rate in effect at its office located at 270 Park Avenue, New York, New York; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective.

 “Pro Forma Basis” means, for purposes of calculating the financial covenants set forth in
Section 6.05, that any Acquisition or Investment shall be deemed to have occurred as of the first day of the most recent four (4) fiscal quarter period preceding the date of such transaction for which the Company has delivered
financial statements pursuant to Section 5.01(a) or (b). In connection with the foregoing, (a) income statement items (whether positive or negative) attributable to the Person or property acquired shall be included to the
extent relating to any period applicable in such calculations to the extent (i) such items are not otherwise included in such income statement items for the Company and its Subsidiaries in accordance with GAAP or in accordance with any defined
terms set forth in Section 1.01 and (ii) such items are supported by audited financial statements or other information reasonably satisfactory to the Administrative Agent and (b) any Indebtedness incurred or assumed by the
Company or any Subsidiary (including the Person or property acquired) in connection with such transaction and any Indebtedness of the Person or property acquired which is not retired in connection with such transaction (i) shall be deemed to
have been incurred as of the first day of the applicable period and (ii) if such Indebtedness has a floating or formula rate, shall have an implied rate of interest for the applicable period for purposes of this definition determined by
utilizing the rate which is or would be in effect with respect to such Indebtedness as at the relevant date of determination. 

“Recipient” means, as applicable, (a) the Administrative Agent, (b) any Lender and (c) the Issuing
Bank. 
 “Reference Period” means, as of the last day of any fiscal quarter, the period of four
(4) consecutive fiscal quarters of the Company and its Subsidiaries ending on such date. 

“Register” has the meaning assigned to such term in Section 10.04(b). 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective
partners, directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Required Lenders” means, at any time, Lenders having Revolving Credit Exposures and unused Commitments
representing more than fifty percent (50%) of the sum of the total Revolving Credit Exposures and unused Commitments at such time; provided that, for the purpose of determining the Required Lenders needed for any waiver, amendment,
modification or consent, any Lender that is a Borrower, or any Affiliate of a Borrower, shall be disregarded. 

  
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 “Revolving Credit Exposure” means, with respect to any Lender at any
time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time. 
 “Revolving Loan” means a Loan made pursuant to Section 2.03. 
 “S&P” means Standard & Poor’s. 

“Sanctions” means any international economic sanction administered or enforced by OFAC, the United Nations
Security Council, the European Union, Her Majesty’s Treasury or other relevant sanctions governmental authority. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of the
functions of said Commission. 
 “Securitization Subsidiary” has the meaning assigned to such term in
the definition of “Securitization Transaction”. 
 “Securitization Transaction” means any
financing transaction or series of financing transactions (including factoring arrangements) pursuant to which the Company or any Subsidiary may sell, convey or otherwise transfer, or grant a security interest in, accounts, payments, receivables,
rights to future lease payments or residuals or similar rights to payment to a special purpose subsidiary or affiliate of the Company (each a “Securitization Subsidiary”). 

“Significant Subsidiary” means each Domestic Subsidiary now existing or hereafter acquired or formed, and each
successor thereto, with respect to which, after giving pro forma effect to such acquisition or formation, or at any other time thereafter: 
 (a) the Company’s and its other Subsidiaries’ Investments in such Domestic Subsidiary exceed ten percent (10%) of the total assets of the Company and its Subsidiaries on a consolidated
basis; 
 (b) the Company’s and its other Subsidiaries’ proportionate share of the total assets (after intercompany
eliminations) of such Domestic Subsidiary exceeds ten percent (10%) of the total assets of the Company and its Subsidiaries on a consolidated basis; or 
 (c) the Company’s and its other Subsidiaries’ equity in the income from continuing operations before income taxes, extraordinary items and cumulative effect of a change in accounting principle
of such Domestic Subsidiary exceeds ten percent (10%) of such income of the Company and its Subsidiaries on a consolidated basis. 
 “Singapore Dollars” means the lawful currency of Singapore. 
 “Statutory Reserve Rate” means, with respect to any currency, a fraction (expressed as a decimal), the numerator of which is the number one and the denominator of which is the
number one minus the aggregate of the maximum reserve, liquid asset, fees or similar requirements (including any marginal, special, emergency or supplemental reserves or other requirements) established by any central bank, monetary authority, the
Board, the Financial Services Authority, 

  
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the European Central Bank or other Governmental Authority for any category of deposits or liabilities customarily used to fund loans in such currency, expressed in the case of each such
requirement as a decimal. Such reserve, liquid asset, fees or similar requirements shall, in the case of Loans denominated in U.S. Dollars, include those imposed pursuant to Regulation D of the Board. Eurocurrency Loans shall be deemed to be subject
to such reserve, liquid asset, fee or similar requirements without benefit of or credit for proration, exemptions or offsets that may be available from time to time to any Lender under any applicable law, rule or regulation, including Regulation D
of the Board. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve, liquid asset or similar requirement. 
 “subsidiary” means, with respect to any Person (the “parent”) at any date, any corporation, limited liability company, partnership, association or other
entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared in accordance with GAAP as of such date, as well as any other corporation,
limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than fifty percent (50%) of the equity or more than fifty percent (50%) of the ordinary voting
power or, in the case of a partnership, more than fifty percent (50%) of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or one or more
subsidiaries of the parent or by the parent and one or more subsidiaries of the parent. 
 “Subsidiary”
means any subsidiary of the Company. 
 “Swap Agreement” means any agreement with respect to any swap,
forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by
current or former directors, officers, employees or consultants of the Company or its Subsidiaries shall be a Swap Agreement. 

“Swingline Exposure” means, at any time, the aggregate principal amount of all Swingline Loans outstanding at
such time. The Swingline Exposure of any Lender at any time shall be its Applicable Percentage of the total Swingline Exposure at such time. 
 “Swingline Lender” means JPMorgan Chase Bank, N.A., in its capacity as lender of Swingline Loans hereunder. 

“Swingline Loan” means a Loan made pursuant to Section 2.05. 

“Swiss Francs” means the lawful currency of Switzerland. 

“TARGET” means the Trans-European Automated Real-time Gross Settlement Express Transfer (TARGET) payment system
(or, if such payment system ceases to be operative, such other payment system (if any) reasonably determined by the Administrative Agent to be a suitable replacement) for the settlement of payments in Euro. 

  
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 “Taxes” means any and all present or future taxes, levies, imposts,
duties, deductions, withholdings, assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Capitalization” means, as of any date, Consolidated Total Debt plus the consolidated
stockholders’ equity of the Company and its Subsidiaries (calculated excluding adjustments to translate foreign assets and liabilities for changes in foreign exchange rates made in accordance with Financial Accounting Standards Board Statement
Nos. 52 and 133), all as would be presented according to GAAP in a consolidated balance sheet of the Company as of such date. 

“Transactions” means the execution, delivery and performance by each Borrower of each Loan Document to which it
is a party, the borrowing of Loans, the use of the proceeds thereof and the issuance of Letters of Credit hereunder. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or
on the Loans comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate. 

“U.S. Dollars” or “$” means the lawful currency of the United States of America.

 “U.S. Person” means a “United States person” within the meaning of Section 7701(a)(30)
of the Code. 
 “U.S. Tax Certificate” has the meaning assigned to such term in
Section 2.17(f)(ii)(D)(2). 
 “Withdrawal Liability” means liability to a Multiemployer Plan
as a result of a complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title IV of ERISA. 
 “Withholding Agent” means any Borrower and the Administrative Agent. 
 SECTION 1.02 Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Class (e.g., a “Revolving
Loan”) or by Type (e.g., a “Eurocurrency Loan”) or by Class and Type (e.g., a “Eurocurrency Revolving Loan”). Borrowings also may be classified and referred to
by Class (e.g., a “Revolving Borrowing”) or by Type (e.g., a “Eurocurrency Borrowing”) or by Class and Type (e.g., a “Eurocurrency Revolving
Borrowing”). 
 SECTION 1.03 Terms Generally. The definitions of terms herein shall apply
equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and
“including” shall be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise
(a) 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, 

  
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supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed
to include such Person’s successors and assigns, (c) 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, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) 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. 

SECTION 1.04 Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or
financial nature shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Company notifies the Administrative Agent that the Company requests an amendment to any provision hereof to eliminate the
effect of any change occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Company that the Required Lenders request an amendment to any provision hereof
for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such
change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Such amendment, regardless of whether requested by the Company or the Required Lenders, shall be negotiated in good
faith by the Company, the Administrative Agent and the Lenders. Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred
to herein shall be made, without giving effect to any election under Financial Accounting Standards Board Accounting Standards Codification 825 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness
or other liabilities of the Company or any Subsidiary at “fair value”, as defined therein. 
 ARTICLE II 

The Credits 
 SECTION 2.01 Commitments; Existing Letters of Credit. 
 (a) Subject to the
terms and conditions set forth herein, each Lender agrees to make Revolving Loans to the Borrowers in Agreed Currencies from time to time during the Availability Period in an aggregate principal amount that will not result in, subject to Sections
2.04 and 2.11(c), (a) the Dollar Amount of such Lender’s Revolving Credit Exposure exceeding such Lender’s Commitment or (b) the Dollar Amount of the total Revolving Credit Exposures exceeding the total Commitments.
Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrowers may borrow, prepay and reborrow Revolving Loans. 

  
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 (b) On the Effective Date, the Existing Letters of Credit issued under the Existing Credit
Agreement shall automatically, and without any action on the part of any Person, be deemed to be Letters of Credit issued hereunder and shall be subject to and governed by the terms and conditions hereof. In connection therewith, each Lender shall
automatically, and without any action on the part of any Person, be deemed to have acquired from the Issuing Bank a participation in each such Letter of Credit in accordance with Section 2.06(d). 

SECTION 2.02 Loans and Borrowings. 
 (a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders ratably in accordance with their respective Commitments. The failure of any Lender to make
any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans
as required. 
 (b) Subject to Section 2.14, each Revolving Borrowing shall be comprised entirely of ABR Loans or
Eurocurrency Loans as the Company may request in accordance herewith; provided that each ABR Loan shall only be made in U.S. Dollars. Each Swingline Loan shall be an ABR Loan. Each Lender at its option may make any Eurocurrency Loan to any
Borrower, or any Loan to a Foreign Obligor, by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the applicable Borrower to repay
such Loan in accordance with the terms of this Agreement. 
 (c) At the commencement of each Interest Period for any
Eurocurrency Revolving Borrowing, such Borrowing shall be in an aggregate amount that is (i) an integral multiple of (A) in the case of a Borrowing denominated in U.S. Dollars, $1,000,000, (B) in the case of a Borrowing denominated in
Japanese Yen, ¥100,000,000, and (C) in the case of a Borrowing denominated in any other Foreign Currency, the smallest amount of such Foreign Currency that has an Equivalent Amount in excess of $1,000,000, and (ii) not less than
(A) in the case of a Borrowing denominated in U.S. Dollars, $1,000,000, (B) in the case of a Borrowing denominated in Japanese Yen, ¥100,000,000, and (C) in the case of a Borrowing denominated in any other Foreign Currency, the
smallest amount of such Foreign Currency that has an Equivalent Amount in excess of $1,000,000. At the time that each ABR Revolving Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not
less than $1,000,000; provided that an ABR Revolving Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments or that is required to finance the reimbursement of an LC Disbursement as
contemplated by Section 2.06(e). Each Swingline Loan shall be in an amount that is not less than $250,000. Borrowings of more than one Type and Class may be outstanding at the same time; provided that there shall not at any time
be more than a total of ten (10) Eurocurrency Revolving Borrowings outstanding. 
 (d) Notwithstanding any other provision
of this Agreement, the Company shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 

  
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 SECTION 2.03 Requests for Revolving Borrowings. To request a
Revolving Borrowing, the Company shall notify the Administrative Agent of such request by telecopy of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Company (or, in the case of a Revolving Borrowing
denominated in U.S. Dollars, by telephone confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request in a form approved by the Administrative Agent and signed by the Company) (a) in the case of a
Eurocurrency Borrowing denominated in U.S. Dollars, not later than 11:00 a.m., New York City time, three (3) Business Days before the date of the proposed Borrowing, (b) in the case of a Eurocurrency Borrowing denominated in a Foreign
Currency, not later than 11:00 a.m., Local Time, four (4) Business Days before the date of the proposed Borrowing, or (c) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed
Borrowing; provided that any such notice of an ABR Revolving Borrowing to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e) may be given not later than 10:00 a.m., New York City time, on the date
of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall specify the following information in compliance with Section 2.02: 

 

	 	(i)	the Borrower requesting such Borrowing; 

  

	 	(ii)	the aggregate amount of the requested Borrowing; 

  

	 	(iii)	the date of such Borrowing, which shall be a Business Day; 

  

	 	(iv)	whether such Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; 

 

	 	(v)	in the case of a Eurocurrency Borrowing, the Agreed Currency and initial Interest Period to be applicable thereto, which shall be a period contemplated by the
definition of the term “Interest Period”; and 

  

	 	(vi)	the location and number of the applicable Borrower’s account to which funds are to be disbursed, which shall comply with the requirements of
Section 2.07. 

 If no denomination is specified with respect to any requested Eurocurrency Borrowing, then the
requested Revolving Borrowing shall be denominated in U.S. Dollars. If no election as to the Type of Revolving Borrowing is specified, then, in the case of a Borrowing denominated in U.S. Dollars, the requested Revolving Borrowing shall be an ABR
Borrowing, and in the case of a Borrowing denominated in a Foreign Currency, the requested Revolving Borrowing shall be a Eurocurrency Borrowing. If no Interest Period is specified with respect to any requested Eurocurrency Revolving Borrowing, then
the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the
details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

  
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 SECTION 2.04 Determination of Dollar Amounts. The Administrative
Agent will determine the Dollar Amount of: 
 (a) each Eurocurrency Borrowing as of the date two (2) Business Days prior
to the date of such Borrowing or, if applicable, the date of conversion or continuation of any Borrowing as a Eurocurrency Borrowing; 
 (b) the LC Exposure as of the date of each request for the issuance, amendment, renewal or extension of any Letter of Credit; and 
 (c) all outstanding Revolving Loans and the LC Exposure on and as of the last Business Day of each calendar quarter and, during the continuation of an Event of Default, on any other Business Day elected
by the Administrative Agent in its discretion or upon instruction by the Required Lenders. 
 Each day upon or as of which the Administrative
Agent determines Dollar Amounts as described in the preceding clauses (a), (b) and (c) is herein described as a “Computation Date” with respect to each Borrowing, Letter of Credit or LC Exposure for which a Dollar
Amount is determined on or as of such day. 
 SECTION 2.05 Swingline Loans. 

(a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees to make Swingline Loans in U.S. Dollars to the
Company from time to time during the Availability Period, in an aggregate principal amount at any time outstanding that will not result in (i) the aggregate principal amount of outstanding Swingline Loans exceeding $25,000,000 or (ii) the
Dollar Amount of the total Revolving Credit Exposures exceeding the total Commitments; provided that the Swingline Lender shall not be required to make a Swingline Loan to refinance an outstanding Swingline Loan. Within the foregoing limits
and subject to the terms and conditions set forth herein, the Company may borrow, prepay and reborrow Swingline Loans. 
 (b)
To request a Swingline Loan, the Company shall notify the Administrative Agent of such request by telephone (confirmed by telecopy), not later than 1:00 p.m., New York City time, on the day of a proposed Swingline Loan. Each such notice shall be
irrevocable and shall specify the requested date (which shall be a Business Day) and amount of the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline Lender of any such notice received from the Company. The
Swingline Lender shall make each Swingline Loan available to the Company by means of a credit to the general deposit account of the Company with the Swingline Lender (or, in the case of a Swingline Loan made to finance the reimbursement of an LC
Disbursement as provided in Section 2.06(e), by remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the requested date of such Swingline Loan. 
 (c) The Swingline Lender may by written notice given to the Administrative Agent not later than 10:00 a.m., New York City time, on any Business Day require the Lenders to acquire participations on such
Business Day in all or a portion of the Swingline Loans outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent will

  
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give notice thereof to each Lender, specifying in such notice such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and unconditionally agrees,
upon receipt of notice as provided above, to pay to the Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its obligation
to acquire participations in Swingline Loans pursuant to this paragraph is absolute and unconditional and shall not be affected by any circumstance whatsoever, including the occurrence and continuance of a Default or reduction or termination of the
Commitments, and that each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. Each Lender shall comply with its obligation under this paragraph by wire transfer of immediately available funds, in the same
manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall
promptly pay to the Swingline Lender the amounts so received by it from the Lenders. The Administrative Agent shall notify the Company of any participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter payments in
respect of such Swingline Loan shall be made to the Administrative Agent and not to the Swingline Lender. Any amounts received by the Swingline Lender from the Company (or other party on behalf of the Company) in respect of a Swingline Loan after
receipt by the Swingline Lender of the proceeds of a sale of participations therein shall be promptly remitted to the Administrative Agent; any such amounts received by the Administrative Agent shall be promptly remitted by the Administrative Agent
to the Lenders that shall have made their payments pursuant to this paragraph and to the Swingline Lender, as their interests may appear; provided that any such payment so remitted shall be repaid to the Swingline Lender or to the Administrative
Agent, as applicable, if and to the extent such payment is required to be refunded to the Company for any reason. The purchase of participations in a Swingline Loan pursuant to this paragraph shall not relieve the Company of any default in the
payment thereof. 
 SECTION 2.06 Letters of Credit. 

(a) General. Subject to the terms and conditions set forth herein, the Company may request the issuance of Letters of Credit
denominated in Agreed Currencies as the applicant thereof for the support of its or its Subsidiaries’ obligations, in a form reasonably acceptable to the Administrative Agent and the Issuing Bank, at any time and from time to time during the
Availability Period. In the event of any inconsistency between the terms and conditions of this Agreement and the terms and conditions of any form of letter of credit application or other agreement submitted by the Company to, or entered into by the
Company with, the Issuing Bank relating to any Letter of Credit, the terms and conditions of this Agreement shall control. 

(b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request the issuance of a Letter of Credit (or the
amendment, renewal or extension of an outstanding Letter of Credit), the Company shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and
the Administrative Agent (no less than three (3) Business Days in advance of the requested date of issuance, amendment, renewal or extension, or such later date and time as the Administrative Agent and the Issuing Bank may agree in a particular
instance in their sole discretion) a notice requesting the issuance of a Letter of Credit, or identifying the 

  
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Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit
is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the Agreed Currency applicable thereto, the name and address of the beneficiary thereof and such other information as shall be necessary
to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the Company also shall submit a letter of credit application on the Issuing Bank’s standard form in connection with any request for a Letter of Credit.
A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance,
amendment, renewal or extension, subject to Sections 2.04 and 2.11(c), (i) the Dollar Amount of the LC Exposure shall not exceed $100,000,000 and (ii) the Dollar Amount of the total Revolving Credit Exposures shall not exceed
the total Commitments. 
 (c) Expiration Date. Each Letter of Credit shall expire (or be subject to termination by
notice from the Issuing Bank to the beneficiary thereof) at or prior to the close of business on the earlier of (i) the date one (1) year after the date of the issuance of such Letter of Credit (or, in the case of any renewal or extension
thereof, one (1) year after such renewal or extension) and (ii) the date that is five (5) Business Days prior to the Maturity Date; provided that any Letter of Credit may contain customary automatic renewal provisions agreed
upon by the Company and the Issuing Bank pursuant to which the expiration date of such Letter of Credit shall be automatically extended for a period of up to 12 months (but not to a date later than the date set forth in clause (ii) above).

 (d) Participations. By the issuance of a Letter of Credit (or an amendment to a Letter of Credit increasing the
amount thereof) and without any further action on the part of the Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby absolutely and unconditionally agrees to pay to the
Administrative Agent, for the account of the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not reimbursed by the Company on the date due as provided in paragraph (e) of this Section,
or of any reimbursement payment required to be refunded to the Company for any reason. Each Lender acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in respect of Letters of Credit is absolute and
unconditional and shall not be affected by any circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or the occurrence and continuance of a Default or reduction or termination of the Commitments, and that
each such payment shall be made without any offset, abatement, withholding or reduction whatsoever. 
 (e)
Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a Letter of Credit, the Company shall reimburse such LC Disbursement by paying to the Administrative Agent in an amount equal to such LC Disbursement not later
than 1:00 p.m., Local Time, on the date that such LC Disbursement is made, if the Company shall have received notice of such LC Disbursement prior to 10:00 a.m., Local Time, on such date, or, if such notice has not been received by the Company prior
to such time on such date, then not later than 1:00 

  
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p.m., Local Time, on the Business Day immediately following the day that the Company receives such notice; provided that, if such LC Disbursement is not less than the Equivalent Amount of
$100,000, the Company may, subject to the conditions to borrowing set forth herein, request in accordance with Section 2.03 or 2.05 that such payment be financed with an ABR Revolving Borrowing or Swingline Loan in the Dollar
Amount of such LC Disbursement and, to the extent so financed, the Company’s obligation to make such payment shall be discharged and replaced by the resulting ABR Revolving Borrowing or Swingline Loan. If the Company fails to make such payment
when due, the Administrative Agent shall notify each Lender of the applicable LC Disbursement, the payment then due from the Company in respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of such notice,
each Lender shall pay to the Administrative Agent its Applicable Percentage of the payment then due from the Company, in the same manner as provided in Section 2.07 with respect to Loans made by such Lender (and Section 2.07
shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the
Administrative Agent of any payment from the Company pursuant to this paragraph, the Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that Lenders have made payments pursuant to this paragraph to reimburse the
Issuing Bank, then to such Lenders and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse the Issuing Bank for any LC Disbursement (other than the funding of ABR Revolving Loans or a
Swingline Loan as contemplated above) shall not constitute a Loan and shall not relieve the Company of its obligation to reimburse such LC Disbursement. If the Company’s reimbursement of, or obligation to reimburse, any amounts in any Foreign
Currency would subject a Credit Party to any stamp duty, ad valorem charge or similar tax that would not be payable if such reimbursement were made or required to be made in U.S. Dollars, the Company shall, at its option, either (x) pay the
amount of any such tax requested by such Credit Party or (y) reimburse each LC Disbursement made in such Foreign Currency in U.S. Dollars, in an amount equal to the Dollar Amount, calculated using the applicable exchange rates, on the date such
LC Disbursement is made, of such LC Disbursement. 
 (f) Obligations Absolute. The Company’s obligation to
reimburse LC Disbursements as provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever
and irrespective of (i) any lack of validity or enforceability of any Letter of Credit or this Agreement, or any term or provision therein, (ii) any draft or other document presented under a Letter of Credit proving to be forged,
fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation of a draft or other document that does not comply with the
terms of such Letter of Credit, or (iv) any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this Section, constitute a legal or equitable discharge of, or provide a
right of setoff against, the Company’s obligations hereunder. Neither the Credit Parties nor any of their Related Parties shall have any liability or responsibility by reason of or in connection with the issuance or transfer of any Letter of
Credit or any payment or failure to make any payment thereunder (irrespective of any of the circumstances referred to in the preceding sentence), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or
other communication under or relating to any Letter of Credit (including any document required to 

  
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make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the Issuing Bank; provided that the foregoing shall
not be construed to excuse the Issuing Bank from liability to the Company to the extent of any direct damages (as opposed to special, indirect, consequential or punitive damages, claims in respect of which are hereby waived by the Company to the
extent permitted by applicable law) suffered by the Company that are caused by the Issuing Bank’s failure to exercise care when determining whether drafts and other documents presented under a Letter of Credit comply with the terms thereof. The
parties hereto expressly agree that, in the absence of gross negligence or willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent jurisdiction), the Issuing Bank shall be deemed to have exercised care in
each such determination. In furtherance of the foregoing and without limiting the generality thereof, the parties agree that, with respect to documents presented which appear on their face to be in substantial compliance with the terms of a Letter
of Credit, the Issuing Bank may, in its sole discretion, either accept and make payment upon such documents without responsibility for further investigation, regardless of any notice or information to the contrary, or refuse to accept and make
payment upon such documents if such documents are not in strict compliance with the terms of such Letter of Credit. 
 (g)
Disbursement Procedures. The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative
Agent and the Company by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not
relieve the Company of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement. 

(h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then, unless the Company shall reimburse such LC
Disbursement in full on the date such LC Disbursement is made, the unpaid amount thereof shall bear interest, for each day from and including the date such LC Disbursement is made to but excluding the date that the Company reimburses such LC
Disbursement, at the rate per annum then applicable to ABR Revolving Loans (or, if such LC Disbursement is denominated in a Foreign Currency, at the Overnight Foreign Currency Rate for such Foreign Currency plus the then effective Applicable Rate
with respect to Eurocurrency Revolving Loans); provided that, if the Company fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then Section 2.13(c) shall apply. Interest accrued
pursuant to this paragraph shall be for the account of the Issuing Bank, except that interest accrued on and after the date of payment by any Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the
account of such Lender to the extent of such payment. 
 (i) Replacement of the Issuing Bank. The Issuing Bank may be
replaced at any time by written agreement among the Company, the Administrative Agent, the replaced Issuing Bank and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of the Issuing Bank. At the
time any such replacement shall become effective, the Company shall pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section 2.12(b). From and after the effective date of any such replacement,
(i) the successor Issuing Bank shall have all the rights and obligations of the Issuing Bank under this 

  
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Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing Bank” shall be deemed to refer to such successor or to any
previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have all the
rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued by it prior to such replacement, but shall not be required to issue additional Letters of Credit. 

(j) Cash Collateralization. If any Event of Default shall occur and be continuing, on the Business Day that the Company receives
notice from the Administrative Agent at the written request of the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with LC Exposure representing greater than fifty percent (50%) of the total LC Exposure)
demanding the deposit of cash collateral pursuant to this paragraph, the Company shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent and for the benefit of the Issuing Bank and the Lenders, an amount in
cash equal to the LC Exposure as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective immediately, and such deposit shall become immediately due and
payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to any Borrower described in clause (g) or (h) of Article VII. Such deposit shall be held by the Administrative Agent
as collateral for the payment and performance of the Obligations. The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account, and the Borrowers hereby grant to the
Administrative Agent, for the benefit of the Issuing Bank and the Lenders, a security interest in such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of
the Administrative Agent and at the Company’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account shall be applied by the
Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the reimbursement obligations of the Company for the LC Exposure at
such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with LC Exposure representing greater than fifty percent (50%) of the total LC Exposure), be applied to satisfy other Obligations. If the
Company is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned to the Company within three (3) Business Days
after all Events of Default have been cured or waived. 
 SECTION 2.07 Funding of Borrowings. 

(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available
funds (i) in the case of Loans denominated in U.S. Dollars, by 12:00 noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders, and (ii) in the case of
Loans denominated in a Foreign Currency, by 12:00 noon, Local Time, in the city of the Administrative Agent’s Eurocurrency Payment Office for such Foreign Currency and at such Eurocurrency Payment Office; provided that Swingline Loans
shall be made as provided in Section 2.05. The Administrative Agent will make such Loans available to the 

  
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applicable Borrower by promptly crediting the amounts so received, in like funds, to (x) in the case of Loans denominated in U.S. Dollars, an account of such Borrower maintained with the
Administrative Agent in New York City and designated by the Company in the applicable Borrowing Request, and (y) in the case of Loans denominated in a Foreign Currency, an account of such Borrower in the relevant jurisdiction and designated by
the Company in the applicable Borrowing Request; provided that ABR Revolving Loans made to finance the reimbursement of an LC Disbursement as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the Issuing
Bank. 
 (b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any
Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph
(a) of this Section and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from and including the date such amount
is made available to the applicable Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent
in accordance with banking industry rules on interbank compensation (including the Overnight Foreign Currency Rate in the case of Loans denominated in a Foreign Currency) or (ii) in the case of such Borrower, the interest rate applicable to ABR
Loans. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 
 SECTION 2.08 Interest Elections. 
 (a) Each Revolving Borrowing initially
shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurocurrency Revolving Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Company may elect to convert
such Borrowing to a different Type or to continue such Borrowing and, in the case of a Eurocurrency Revolving Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Company may elect different options with respect to
different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate
Borrowing. This Section shall not apply to Swingline Borrowings, which may not be converted or continued. 
 (b) To make an
election pursuant to this Section, the Company shall notify the Administrative Agent of such election by telecopy of a written Interest Election Request in a form approved by the Administrative Agent and signed by the Company (or, in the case of a
Revolving Borrowing denominated in U.S. Dollars, by telephone confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request in a form approved by the Administrative Agent and signed by the
Company) by the time that a Borrowing Request would be required under Section 2.03 if the Company were requesting a Revolving 

  
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Borrowing of the Type resulting from such election to be made on the effective date of such election. Notwithstanding any other provision of this Section, the Company shall not be permitted to
(i) change the currency of any Borrowing, (ii) elect an Interest Period for Eurocurrency Loans that does not comply with Section 2.02(d) or (iii) convert any Borrowing to a Borrowing of a Type not available to the
applicable Borrower for such Borrowing when it was made. 
 (c) Each telephonic and written Interest Election Request shall be
irrevocable and shall specify the following information in compliance with Section 2.02: 
  

	 	(i)	the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to different portions thereof, the portions
thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing); 

 

	 	(ii)	the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; 

 

	 	(iii)	whether the resulting Borrowing is to be an ABR Borrowing or a Eurocurrency Borrowing; and 

 

	 	(iv)	if the resulting Borrowing is a Eurocurrency Borrowing, the Interest Period and Agreed Currency to be applicable thereto after giving effect to such election, which
Interest Period shall be a period contemplated by the definition of the term “Interest Period”. 

 If any such Interest
Election Request requests a Eurocurrency Borrowing but does not specify an Interest Period, then the Company shall be deemed to have selected an Interest Period of one (1) month’s duration. 

(d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each Lender of the details thereof
and of such Lender’s portion of each resulting Borrowing. 
 (e) If the Company fails to deliver a timely Interest
Election Request with respect to a Eurocurrency Revolving Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period (i) in the case of a
Borrowing denominated in U.S. Dollars, such Borrowing shall be converted to an ABR Borrowing, and (ii) in the case of a Borrowing denominated in a Foreign Currency, such Borrowing shall automatically continue as a Eurocurrency Borrowing in the
same Agreed Currency with an Interest Period of one (1) month. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing and the Administrative Agent, at the request of the Required Lenders, so
notifies the Company, then, so long as an Event of Default is continuing (x) no outstanding Revolving Borrowing may be converted to or continued as a Eurocurrency Borrowing and (y) unless repaid, each Eurocurrency Revolving Borrowing shall
be converted to an ABR Borrowing (and any such Eurocurrency Revolving 

  
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Borrowing denominated in a Foreign Currency shall be redenominated in Dollars at the time of such conversion) at the end of the Interest Period applicable thereto. 

SECTION 2.09 Termination and Reduction of Commitments. 

(a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. 

(b) The Borrowers may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction
of the Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 and (ii) the Borrowers shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the
Loans in accordance with Section 2.11, the Dollar Amount of the total Revolving Credit Exposures would exceed the total Commitments. 
 (c) The Company shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this Section at least three (3) Business Days prior to the
effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each notice delivered
by the Company pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Company may state that such notice is conditioned upon the effectiveness of other credit facilities, in
which case such notice may be revoked by the Company (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any termination or reduction of the Commitments shall be permanent. Each
reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. 
 SECTION 2.10 Repayment of Loans; Evidence of Debt. 

(a) (i) Each Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each
Lender the then unpaid principal amount of each Revolving Loan made to such Borrower on the Maturity Date in the currency of such Loan and (ii) the Company hereby unconditionally promises to pay to the Swingline Lender the then unpaid principal
amount of each Swingline Loan on the earlier of the Maturity Date and the first date after such Swingline Loan is made that is the fifteenth (15th) or last day of a calendar month and is at least two (2) Business Days after such Swingline Loan is made;
provided that on each date that a Revolving Borrowing is made to the Company, the Company shall repay all Swingline Loans then outstanding. 
 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of each Borrower to such Lender resulting from each Loan made to such Borrower by
such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the
Class, Agreed Currency and Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable 

  
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or to become due and payable from each Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and
each Lender’s share thereof. 
 (d) The entries made in the accounts maintained pursuant to paragraph (b) or
(c) of this Section shall be prima facie evidence of the existence and amounts of the Obligations recorded therein; provided that the failure of any Lender or the Administrative Agent to maintain such accounts or any error
therein shall not in any manner affect the obligation of each Borrower to repay the Loans made to such Borrower in accordance with the terms of this Agreement. 
 (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such event, the Borrowers shall prepare, execute and deliver to such Lender a promissory note payable to the order of
such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and in a form approved by the Administrative Agent. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including
after assignment pursuant to Section 10.04) be represented by one or more promissory notes in such form payable to the order of the payee named therein (or, if such promissory note is a registered note, to such payee and its registered
assigns). 
 SECTION 2.11 Prepayment of Loans. 

(a) The Borrowers shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to prior
notice in accordance with paragraph (b) of this Section; provided that each prepayment shall be in an aggregate amount that is (i) an integral multiple of (A) in the case of an ABR Revolving Borrowing, $100,000, (B) in the
case of a Eurocurrency Revolving Borrowing denominated in U.S. Dollars, $1,000,000, (C) in the case of a Eurocurrency Revolving Borrowing denominated in Japanese Yen, ¥100,000,000, and (D) in the case of a Eurocurrency Revolving
Borrowing denominated in any other Foreign Currency, the smallest amount of such Foreign Currency that has an Equivalent Amount in excess of $1,000,000, and (ii) not less than (A) in the case of a Swingline Borrowing, $100,000, (B) in
the case of an ABR Revolving Borrowing, $1,000,000, (C) in the case of a Eurocurrency Revolving Borrowing denominated in U.S. Dollars, $1,000,000, (D) in the case of a Eurocurrency Revolving Borrowing denominated in Japanese Yen,
¥100,000,000, and (E) in the case of a Eurocurrency Revolving Borrowing denominated in any other Foreign Currency, the smallest amount of such Foreign Currency that has an Equivalent Amount in excess of $1,000,000. 

(b) The Company, on behalf of the applicable Borrower, shall notify the Administrative Agent (and, in the case of prepayment of a
Swingline Loan, the Company shall notify the Swingline Lender) by telecopy of a written notice signed by the Borrower (or, in the case of a prepayment of a Borrowing denominated in U.S. Dollars, by telephone confirmed promptly by hand delivery or
telecopy to the Administrative Agent of a written notice signed by the Borrower) of any prepayment hereunder (i) in the case of prepayment of a Eurocurrency Revolving Borrowing denominated in U.S. Dollars, not later than 11:00 a.m., New York
City time, three (3) Business Days before the date of prepayment, (ii) in the case of prepayment of a Eurocurrency Revolving Borrowing denominated in a Foreign Currency, not later than 11:00 a.m., Local Time, four (4) Business Days
before the date of prepayment, (iii) in the case of 

  
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prepayment of an ABR Revolving Borrowing, not later than 11:00 a.m., New York City time, on the date of prepayment or (iv) in the case of prepayment of a Swingline Loan, not later than 12:00
noon, New York City time, on the date of prepayment. Each such telephonic and written notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof to be prepaid; provided
that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in
accordance with Section 2.09. Promptly following receipt of any such notice relating to a Revolving Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Revolving Borrowing
shall be in an amount that would be permitted in the case of an advance of a Revolving Borrowing of the same Type as provided in Section 2.02. Each prepayment of a Revolving Borrowing shall be applied ratably to the Loans included in the
prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.13 and break funding payments to the extent required by Section 2.16. 

(c) If at any time, (i) other than as a result of fluctuations in currency exchange rates, the sum of the aggregate principal
Dollar Amount of the total Revolving Credit Exposures (calculated, with respect to Revolving Loans and LC Exposure denominated in Foreign Currencies, as of the most recent Computation Date with respect to each such Revolving Loans and LC Exposure)
exceeds the total Commitments or (ii) solely as a result of fluctuations in currency exchange rates, the aggregate principal Dollar Amount of the total Revolving Credit Exposures (so calculated), as of the most recent Computation Date, exceeds
one hundred five percent (105%) of the total Commitments, the Borrowers shall, in each case, immediately repay Borrowings or cash collateralize LC Exposure in accordance with the procedures set forth in Section 2.06(j), as
applicable, in an aggregate principal amount sufficient to cause the Dollar Amount of the total Revolving Credit Exposures (so calculated) to be less than or equal to the total Commitments. 

SECTION 2.12 Fees. 
 (a) The Company agrees to pay to the Administrative Agent for the account of each Lender a facility fee, which shall accrue at the Applicable Rate on the daily amount of the Commitment of such Lender
(whether used or unused) during the period from and including the Effective Date to but excluding the date on which such Commitment terminates; provided that, if such Lender continues to have any Revolving Credit Exposure after its Commitment
terminates, then such facility fee shall continue to accrue on the daily amount of such Lender’s Revolving Credit Exposure from and including the date on which its Commitment terminates to but excluding the date on which such Lender ceases to
have any Revolving Credit Exposure. Accrued facility fees shall be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur
after the date hereof; provided that any facility fees accruing after the date on which the Commitments terminate shall be payable on demand. All facility fees shall be computed on the basis of a year of three hundred sixty (360) days
and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

  
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 (b) The Company agrees to pay (i) to the Administrative Agent for
the account of each Lender a participation fee with respect to its participations in Letters of Credit, which shall accrue at the same Applicable Rate used to determine the interest rate applicable to Eurocurrency Revolving Loans on the average
daily Dollar Amount of such Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date on which such
Lender’s Commitment terminates and the date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall accrue at the rate or rates per annum separately agreed upon between the Company and
the Issuing Bank on the average daily Dollar Amount of the LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements) during the period from and including the Effective Date to but excluding the later of the date of
termination of the Commitments and the date on which there ceases to be any LC Exposure, as well as the Issuing Bank’s standard fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit or processing of drawings
thereunder. Participation fees and fronting fees accrued through and including the last day of March, June, September and December of each year shall be payable on the third (3rd) Business Day following such last day, commencing on the first such date to occur after the Effective Date;
provided that all such fees shall be payable on the date on which the Commitments terminate and any such fees accruing after the date on which the Commitments terminate shall be payable on demand. Any other fees payable to the Issuing Bank
pursuant to this paragraph shall be payable within ten (10) days after demand. All participation fees and fronting fees shall be computed on the basis of a year of three hundred sixty (360) days and shall be payable for the actual number
of days elapsed (including the first day but excluding the last day). 
 (c) The Company agrees to pay to the Administrative
Agent and the Arrangers, for their own respective accounts, fees payable in the amounts and at the times separately agreed upon between the Company, on the one hand, and the Administrative Agent or either Arranger, on the other. 

(d) All fees payable hereunder shall be paid on the dates due, in U.S. Dollars and immediately available funds, to the Administrative
Agent (or to the Issuing Bank, in the case of fees payable to it) for distribution, in the case of facility fees and participation fees, to the Lenders. Fees paid shall not be refundable under any circumstances. 

SECTION 2.13 Interest. 
 (a) The Loans comprising each ABR Borrowing (including each Swingline Loan) shall bear interest at the Alternate Base Rate plus the Applicable Rate. 

(b) The Loans comprising each Eurocurrency Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest Period in effect for
such Borrowing plus the Applicable Rate. 
 (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or
any fee or other amount payable by the Borrowers hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to
(i) in the case of overdue principal of any 

  
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Loan, two percent (2%) plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, two percent
(2%) plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section. 
 (d) Accrued interest on
each Loan shall be payable in arrears on each Interest Payment Date for such Loan and, in the case of Revolving Loans, upon termination of the Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section
shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Revolving Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid
shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurocurrency Revolving Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on
the effective date of such conversion. All interest shall be payable in the currency in which the applicable Loan is denominated. 
 (e) All interest hereunder shall be computed on the basis of a year of three hundred sixty (360) days, except that (i) interest computed by reference to the Alternate Base Rate at times when the
Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of three hundred sixty-five (365) days (or three hundred sixty-six (366) days in a leap year) and (ii) for Borrowings denominated in Pounds
Sterling shall be computed on the basis of a year of three hundred sixty-five (365) days, and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate
Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 
 SECTION 2.14 Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurocurrency Borrowing: 
 (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted LIBO Rate or the LIBO
Rate, as applicable, for such Interest Period; or 
 (b) the Administrative Agent is advised by the Required Lenders that the
Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest
Period; 
 then the Administrative Agent shall give notice thereof to the Company and the Lenders by telephone or telecopy as promptly as
practicable thereafter and, until the Administrative Agent notifies the Company and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that requests the conversion of any Revolving
Borrowing to, or continuation of any Revolving Borrowing as, a Eurocurrency Borrowing shall be ineffective, (ii) if any Borrowing Request requests a Eurocurrency Revolving Borrowing denominated in U.S. Dollars, such Borrowing shall be made as
an ABR Borrowing, and (iii) if any Borrowing Request requests a Eurocurrency Revolving Borrowing denominated in a Foreign Currency, such Borrowing Request shall be ineffective; provided that if the circumstances giving

  
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rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted. 

SECTION 2.15 Increased Costs. 
 (a) If any Change in Law shall: 
  

	 	(i)	impose, modify or deem applicable any reserve, special deposit or similar requirement (including any compulsory loan requirement, insurance charge or other assessment)
against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or the Issuing Bank; or 

 

	 	(ii)	impose on any Lender or the Issuing Bank or the London interbank market any other condition, cost or expense affecting any Loan Document or Eurocurrency Loans made by
such Lender or any Letter of Credit or participation therein; 

 and the result of any of the foregoing shall be to increase the
cost to such Lender of making or maintaining any Eurocurrency Loan or of maintaining its obligation to make any such Loan (including pursuant to any conversion of any Borrowing denominated in an Agreed Currency to a Borrowing denominated in any
other Agreed Currency) or to increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining any Letter of Credit (including pursuant to any conversion of any Borrowing denominated in an Agreed Currency to a
Borrowing denominated in any other Agreed Currency) or to reduce the amount of any sum received or receivable by such Lender or the Issuing Bank hereunder, whether of principal, interest or otherwise (including pursuant to any conversion of any
Borrowing denominated in an Agreed Currency to a Borrowing denominated in any other Agreed Currency), then the Company will pay (or cause the applicable Designated Borrower to pay) to such Lender or the Issuing Bank, as the case may be, such
additional amount or amounts as will compensate such Lender or the Issuing Bank, as the case may be, for such additional costs incurred or reduction suffered. 
 (b) If any Lender or the Issuing Bank reasonably determines that any Change in Law regarding capital requirements has or would have the effect of reducing the rate of return on such Lender’s or the
Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if any, as a consequence of any Loan Document or the Loans made by, or participations in Letters of Credit held by, such Lender, or the
Letters of Credit issued by the Issuing Bank, to a level below that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company could have achieved but for such Change in Law (taking into consideration such
Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company with respect to capital adequacy), then from time to time the Company will pay (or cause the applicable Designated
Borrower to pay) to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such reduction
suffered. 

  
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 (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or its holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Company and shall be conclusive absent manifest error. The
Company shall pay (or cause the applicable Designated Borrower to pay) such Lender or the Issuing Bank, as the case may be, the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

(d) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section shall not constitute
a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation; provided that no Borrower shall be required to compensate a Lender or the Issuing Bank pursuant to this Section for any increased costs or reductions
incurred more than two hundred seventy (270) days prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Company of the Change in Law giving rise to such increased costs or reductions and of such Lender’s
or the Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the two hundred seventy (270) day period
referred to above shall be extended to include the period of retroactive effect thereof. 
 SECTION 2.16 Break
Funding Payments. In the event of (a) the payment of any principal of any Eurocurrency Loan other than on the last day of an Interest Period applicable thereto (including as a result of an Event of Default or as a result of any prepayment
pursuant to Section 2.11), (b) the conversion of any Eurocurrency Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurocurrency Loan on the
date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and is revoked in accordance therewith), or (d) the assignment of any Eurocurrency Loan other than on the
last day of the Interest Period applicable thereto as a result of a request by the Company pursuant to Section 2.19, then, in any such event, the Company shall compensate (or cause the applicable Designated Borrower to compensate) each
Lender for the loss, cost and expense attributable to such event. Such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have
accrued on the principal amount of such Loan had such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor
(or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest
rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in the applicable currency of a comparable amount and period from other banks in the Eurocurrency market. A certificate of any Lender setting forth any
amount or amounts that such Lender is entitled to receive pursuant to this Section shall be delivered to the Company and shall be conclusive absent manifest error. The Company shall pay (or cause the applicable Designated Borrower to pay) such
Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

  
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 SECTION 2.17 Taxes. 

(a) Withholding Taxes; Gross-Up. Each payment by any Borrower under any Loan Document shall be made without withholding for any
Indemnified Taxes, unless such withholding is required by law. If any Withholding Agent determines, in its sole discretion exercised in good faith, that it is so required to withhold Indemnified Taxes, then such Withholding Agent may so withhold and
shall timely pay the full amount of withheld Taxes to the relevant Governmental Authority in accordance with applicable law. The amount payable in respect of Indemnified Taxes by any Borrower shall be increased as necessary so that net of such
withholding (including withholding applicable to additional amounts payable under this Section) the applicable Recipient receives the amount it would have received had no such withholding been made. 

(b) Payment of Other Taxes by the Borrowers. The Borrowers shall timely pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law. 
 (c) Evidence of Payment. As soon as practicable after any payment of
Indemnified Taxes by any Borrower to a Governmental Authority, such Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return
reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (d)
Indemnification by the Borrowers. The Borrowers shall indemnify each Recipient for any Indemnified Taxes that are paid or payable by such Recipient in connection with any Loan Document (including amounts paid or payable under this
Section 2.17(d)) and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. The indemnity under this
Section 2.17(d) shall be paid within ten (10) days after the Recipient delivers to the applicable Borrower a certificate stating the amount of any Indemnified Taxes so paid or payable by such Recipient and describing the basis for
the indemnification claim. Such certificate shall be conclusive of the amount so paid or payable absent manifest error. Such Recipient shall deliver a copy of such certificate to the Administrative Agent. 

(e) Indemnification by the Lenders. Each Lender shall severally indemnify (i) the Administrative Agent for any Taxes (but,
in the case of any Indemnified Taxes, only to the extent that any Borrower has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Borrowers to do so) attributable to such Lender
that are paid or payable by the Administrative Agent in connection with any Loan Document and (ii) each Borrower and the Administrative Agent for any Taxes incurred by or asserted against any Borrower or the Administrative Agent by any
Governmental Authority as a result of the failure by such Lender to deliver, or as a result of the inaccuracy, inadequacy or deficiency of, any documentation required to be delivered by such Lender, to the Company or the Administrative Agent
pursuant to subsection (f); in each case of the preceding clauses (i) and (ii), including any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant
Governmental Authority. The indemnity under this Section 2.17(e) shall be paid within ten (10) days after the Administrative Agent or the applicable Borrower (as applicable) delivers to the applicable

  
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Lender a certificate stating the amount of Taxes so paid or payable by the Administrative Agent or the applicable Borrower (as applicable). Such certificate shall be conclusive of the amount so
paid or payable absent manifest error. 
 (f) Status of Lenders. (i) Any Lender that is entitled to an exemption
from, or reduction of, any applicable withholding Tax with respect to any payments under any Loan Document shall deliver to the Company and the Administrative Agent, at the time or times prescribed by law or as reasonably requested by the Company or
the Administrative Agent, such properly completed and executed documentation reasonably requested by the Company or the Administrative Agent as will permit such payments to be made without, or at a reduced rate of, withholding. In addition, any
Lender, if requested by the Company or the Administrative Agent, shall deliver such other documentation prescribed by law or reasonably requested by the Company or the Administrative Agent as will enable the Company or the Administrative Agent to
determine whether or not such Lender is subject to any withholding (including backup withholding) or information reporting requirements. Upon the reasonable request of the Company or the Administrative Agent, any Lender shall update any form or
certification previously delivered pursuant to this Section 2.17(f). If any form or certification previously delivered pursuant to this Section expires or becomes obsolete or inaccurate in any respect with respect to a Lender, such
Lender shall promptly (and in any event within ten (10) days after such expiration, obsolescence or inaccuracy) notify the Company and the Administrative Agent in writing of such expiration, obsolescence or inaccuracy and update the form or
certification if it is legally eligible to do so. 
  

	 	(ii)	Without limiting the generality of the foregoing, if any Borrower is a U.S. Person, any Lender with respect to such Borrower shall, if it is legally eligible to do so,
deliver to the Company and the Administrative Agent (in such number of copies reasonably requested by the Company and the Administrative Agent) on or prior to the date on which such Lender becomes a party hereto, duly completed and executed copies
of whichever of the following is applicable: 

 (A) in the case of a Lender that is a U.S. Person,
IRS Form W-9 certifying that such Lender is exempt from United States Federal backup withholding tax; 
 (B) in
the case of a Non-U.S. Lender claiming the benefits of an income tax treaty to which the United States of America is a party (1) with respect to payments of interest under any Loan Document, IRS Form W-8BEN establishing an exemption from, or
reduction of, United States Federal withholding Tax pursuant to the “interest” article of such tax treaty and (2) with respect to any other applicable payments under this Agreement, IRS Form W-8BEN establishing an exemption from, or
reduction of, United States Federal withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 
 (C) in the case of a Non-U.S. Lender for whom payments under this Agreement constitute income that is effectively connected with such Lender’s

  
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conduct of a trade or business in the United States of America, IRS Form W-8ECI; 
 (D) in the case of a Non-U.S. Lender claiming the benefits of the exemption for portfolio interest under Section 881(c) of the Code both (1) IRS Form W-8BEN and (2) a certificate
substantially in the applicable form attached as Exhibit B (a “U.S. Tax Certificate”) to the effect that such Lender is not (a) a “bank” within the meaning of Section 881(c)(3)(A) of the Code, (b) a
“10 percent shareholder” of the Company within the meaning of Section 881(c)(3)(B) of the Code (c) a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code and (d) conducting a trade or
business in the United States of America with which the relevant interest payments are effectively connected; 

(E) in the case of a Non-U.S. Lender that is not the beneficial owner of payments made under this Agreement (including a
partnership or a participating Lender) (1) an IRS Form W-8IMY on behalf of itself and (2) all required supporting documentation, including the relevant forms prescribed in clauses (A), (B), (C), (D) and (F) of this
Section 2.17(f)(ii) that would be required of each such beneficial owner or partner of such partnership if such beneficial owner or partner were a Lender; or 

(F) any other form prescribed by law as a basis for claiming exemption from, or a reduction of, U.S. Federal withholding
Tax together with such supplementary documentation necessary to enable the Company or the Administrative Agent to determine the amount of Tax (if any) required by law to be withheld. 

 

	 	(iii)	If a Withholding Agent determines that a payment made to a Lender under any Loan Document may be subject to U.S. Federal withholding Tax imposed by FATCA if such Lender
were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Withholding Agent, at the time or times prescribed
by law and at such time or times reasonably requested by the Withholding Agent, such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably
requested by the Withholding Agent as may be necessary for the Withholding Agent to comply with its obligations under FATCA, to determine that such Lender has or has not complied with such Lender’s obligations under FATCA and, as necessary, to
determine the amount to deduct and withhold from such payment. Solely for purposes of this Section 2.17(f)(iii), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

 

	 	(iv)	 Without limiting the obligations of the Lenders set forth above regarding delivery of certain forms and documents to establish each Lender’s
status for U.S. withholding tax purposes, each Lender agrees promptly to deliver 

  
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to the Administrative Agent or the Company, as the Administrative Agent or the Company shall reasonably request, on or prior to the Effective Date, and in a timely fashion thereafter, such other
documents and forms required by any relevant taxing authorities under the laws of any other jurisdiction, duly executed and completed by such Lender, as are required under such laws to confirm such Lender’s entitlement to any available
exemption from, or reduction of, applicable withholding taxes in respect of all payments to be made to such Lender outside of the United States of America by the Borrowers pursuant to this Agreement or otherwise to establish such Lender’s
status for withholding tax purposes in such other jurisdiction. Each Lender shall promptly (A) notify the Administrative Agent of any change in circumstances which would modify or render invalid any such claimed exemption or reduction, and
(B) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the re-designation of its applicable lending office) to avoid any requirement of
applicable laws of any such jurisdiction that any Borrower make any deduction or withholding for taxes from amounts payable to such Lender. Additionally, each of the Borrowers shall promptly deliver to the Administrative Agent or any Lender, as the
Administrative Agent or such Lender shall reasonably request, on or prior to the Effective Date, and in a timely fashion thereafter, such documents and forms required by any relevant taxing authorities under the laws of any jurisdiction, duly
executed and completed by such Borrower, as are required to be furnished by such Lender or the Administrative Agent under such laws in connection with any payment by the Administrative Agent or any Lender of Taxes or Other Taxes, or otherwise in
connection with the Loan Documents, with respect to such jurisdiction. 

 (g) Notwithstanding anything else
herein to the contrary, if a Lender is subject to U.S. Federal withholding tax at a rate in excess of zero percent at the time such Lender first becomes a party to this Agreement, such U.S. Federal withholding tax (including additions to tax,
penalties and interest imposed with respect to such U.S. Federal withholding tax) shall be considered excluded from Indemnified Taxes except to the extent such Lender’s assignor was entitled to additional amounts or indemnity payments prior to
the assignment. Further, a Borrower shall not be required pursuant to this Section 2.17 to pay any additional amount to, or to indemnify, any Lender or the Administrative Agent, as the case may be, to the extent that such Lender or
Administrative Agent becomes subject to Indemnified Taxes subsequent to the Effective Date (or, if later, the date such Lender or Administrative Agent becomes a party to this Agreement) solely as a result of a change in the place of organization or
place of doing business of such Lender or Administrative Agent or a change in the lending office of such Lender (other than at the written request of a Borrower to change such lending office). 

(h) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 2.17 (including additional amounts paid pursuant to this Section 2.17), it shall pay to the indemnifying party an amount equal to such refund
(but 

  
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only to the extent of indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including any Taxes) of such indemnified
party and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid
such indemnified party pursuant to the previous sentence (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such indemnified party is required to repay such refund to such Governmental
Authority. This Section 2.17(h) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the indemnifying party or any other
Person. 
 (i) Issuing Bank. For purposes of Section 2.17(e) and (f), the term “Lender”
includes the Issuing Bank. 
 SECTION 2.18 Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

 (a) Each Borrower shall make each payment required to be made by it hereunder (whether of principal, interest, fees or
reimbursement of LC Disbursements, or of amounts payable under Section 2.15, 2.16 or 2.17, or otherwise) prior to 12:00 noon, Local Time, on the date when due, in immediately available funds, without set off or
counterclaim. Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments
shall be made to the Administrative Agent at (x) in the case of payments denominated in U.S. Dollars, its offices at 270 Park Avenue, New York, New York, and (y) in the case of payments denominated in a Foreign Currency, its Eurocurrency
Payment Office for such Foreign Currency, in each case except payments to be made directly to the Issuing Bank or Swingline Lender as expressly provided herein and except that payments pursuant to Sections 2.15, 2.16, 2.17
and 9.03 shall be made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof.
If any payment hereunder shall be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the
period of such extension. All payments hereunder of principal or interest in respect of any Loan or LC Disbursement shall, except as otherwise expressly provided herein, be made in the currency of such Loan or LC Disbursement, and all other payments
hereunder and under each other Loan Document shall be made in U.S. Dollars. Notwithstanding the foregoing provisions of this Section, if, after the making of any Borrowing or LC Disbursement in any Foreign Currency, currency control or exchange
regulations are imposed in the country which issues such Foreign Currency with the result that such Foreign Currency no longer exists or the applicable Borrower is not able to make payment to the Administrative Agent for the account of the Lenders
in such Foreign Currency, then all payments to be made by such Borrower hereunder in such Foreign Currency shall instead be made when due in U.S. Dollars in an amount equal to the Dollar Amount (as of the date of repayment) of such payment due, it
being the intention of the parties hereto that such Borrower takes all risks of the imposition of any such currency control or exchange regulations. 

  
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 (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled
thereto in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal and unreimbursed LC Disbursements then due hereunder, ratably among the parties entitled thereto in accordance
with the amounts of principal and unreimbursed LC Disbursements then due to such parties. 
 (c) If any Lender shall, by
exercising any right of set off or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Revolving Loans or participations in LC Disbursements or Swingline Loans resulting in such Lender receiving payment
of a greater proportion of the aggregate amount of its Revolving Loans and participations in LC Disbursements and Swingline Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such greater
proportion shall purchase (for cash at face value) participations in the Revolving Loans and participations in LC Disbursements and Swingline Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by
the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Revolving Loans and participations in LC Disbursements and Swingline Loans; provided that (i) if any such participations
are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this
paragraph shall not be construed to apply to any payment made by any Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a
participation in any of its Loans or participations in LC Disbursements to any assignee or participant, other than to any Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). Each Borrower
consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against such Borrower rights of set-off and counterclaim
with respect to such participation as fully as if such Lender were a direct creditor of such Borrower in the amount of such participation. 
 (d) Unless the Administrative Agent shall have received notice from any Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders or the Issuing
Bank hereunder that such Borrower will not make such payment, the Administrative Agent may assume that such Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or
the Issuing Bank, as the case may be, the amount due. In such event, if such Borrower has not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender or Issuing Bank with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the
greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation (including the Overnight Foreign Currency Rate in the case of Loans denominated in a
Foreign Currency). 

  
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 (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), then the Administrative Agent may, in its discretion and notwithstanding any contrary provision hereof, apply any amounts thereafter
received by the Administrative Agent for the account of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid, and/or (ii) hold such amounts in a segregated account over
which the Administrative Agent shall have exclusive control as cash collateral for, and application to, any future funding obligations of such Lender under any such Section, in the case of each of clause (i) and (ii) above, in any order as
determined by the Administrative Agent in its discretion. 
 SECTION 2.19 Mitigation Obligations; Replacement
of Lenders. 
 (a) If any Lender requests compensation under Section 2.15, or if any Borrower is required to
pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking
its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant
to Section 2.15 or 2.17, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Company hereby agrees to pay
(or cause the applicable Designated Borrower to pay) all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) If any Lender requests compensation under Section 2.15, or if any Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.17, or if any Lender becomes a Defaulting Lender, then the Company may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate,
without recourse (in accordance with and subject to the restrictions contained in Section 10.04), all its interests, rights and obligations under the Loan Documents to an assignee that shall assume such obligations (which assignee may be
another Lender, if a Lender accepts such assignment); provided that (i) the Company shall have received the prior written consent of the Administrative Agent (and if a Commitment is being assigned, the Issuing Bank), which consent shall
not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans and participations in LC Disbursements and Swingline Loans, accrued interest thereon, accrued fees and all
other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrowers (in the case of all other amounts) and (iii) in the case of any such assignment resulting from
a claim for compensation under Section 2.15 or payments required to be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any
such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Company to require such assignment and delegation cease to apply. 

  
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 SECTION 2.20 Defaulting Lenders. 

Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions
shall apply for so long as such Lender is a Defaulting Lender: 
 (a) fees shall cease to accrue on the Commitment of such
Defaulting Lender pursuant to Section 2.12(a); 
 (b) the Commitment and Revolving Credit Exposure of such
Defaulting Lender shall not be included in determining whether all Lenders or the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification pursuant to
Section 10.02); provided that any waiver, amendment or other modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender disproportionately when compared to the other affected
Lenders, or increases or extends the Commitment of such Defaulting Lender, shall require the consent of such Defaulting Lender; 
 (c) if any Swingline Exposure or LC Exposure exists at the time such Lender becomes a Defaulting Lender then: 
  

	 	(i)	all or any part of the Swingline Exposure and LC Exposure of such Defaulting Lender shall be reallocated among the non-Defaulting Lenders in accordance with their
respective Applicable Percentages but only to the extent that (A) the sum of all non-Defaulting Lenders’ Revolving Credit Exposures plus such Defaulting Lender’s Swingline Exposure and LC Exposure does not exceed the total of all
non-Defaulting Lenders’ Commitments, (B) such reallocation does not cause the Revolving Credit Exposure of any non-Defaulting Lender to exceed such non-Defaulting Lender’s Commitment, and (C) the conditions set forth in
Section 4.02 are satisfied at such time; 

  

	 	(ii)	if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Company shall within one (1) Business Day following notice
by the Administrative Agent (A) first, prepay such Swingline Exposure and (B) second, cash collateralize for the benefit of the Issuing Bank only the Company’s obligations corresponding to such Defaulting Lender’s LC Exposure
(after giving effect to any partial reallocation pursuant to clause (i) above) in accordance with the procedures set forth in Section 2.06(j) for so long as such LC Exposure is outstanding; 

 

	 	(iii)	 if the Company cash collateralizes any portion of such Defaulting Lender’s LC Exposure pursuant to clause (ii) above, the Company shall not
be required to pay any fees to such Defaulting Lender pursuant to Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure 

  
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during the period such Defaulting Lender’s LC Exposure is cash collateralized; 

  

	 	(iv)	if the LC Exposure of the non-Defaulting Lenders is reallocated pursuant to clause (i) above, then the fees payable to the Lenders pursuant to
Section 2.12(b) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable Percentages; and 

  

	 	(v)	if all or any portion of such Defaulting Lender’s LC Exposure is neither reallocated nor cash collateralized pursuant to clause (i) or (ii) above, then,
without prejudice to any rights or remedies of the Issuing Bank or any other Lender hereunder, all facility fees that otherwise would have been payable under Section 2.12(a) to such Defaulting Lender (solely with respect to the portion
of such Defaulting Lender’s Commitment that was utilized by such LC Exposure) and letter of credit fees payable under Section 2.12(b) with respect to such Defaulting Lender’s LC Exposure shall be payable to the Issuing Bank
until and to the extent that such LC Exposure is reallocated and/or cash collateralized; and 

 (d) so long as
such Lender is a Defaulting Lender, (i) the Swingline Lender shall not be required to fund any Swingline Loan and the Issuing Bank shall not be required to issue, amend, renew or extend any Letter of Credit, unless it is satisfied that the
related exposure and the Defaulting Lender’s then outstanding LC Exposure will be one hundred percent (100%) covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will be provided by the Company in accordance with
clause (c) above, and (ii) participating interests in any newly made Swingline Loan or any newly issued, amended, renewed or extended Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with clause
(c)(i) above (and such Defaulting Lender shall not participate therein). 
 In the event that the Administrative Agent, the
Company, the Swingline Lender and the Issuing Bank each agrees that a Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, then the Swingline Exposure and LC Exposure of the Lenders shall be
readjusted to reflect the inclusion of such Lender’s Commitment and on such date such Lender shall purchase at par such of the Loans of the other Lenders (other than Swingline Loans) as the Administrative Agent shall determine may be necessary
in order for such Lender to hold such Loans in accordance with its Applicable Percentage. 
 SECTION 2.21
Expansion Option. 
 (a) The Company may from time to time, but not more than five (5) times during the term of
this Agreement, elect to increase the aggregate Commitments and/or enter into one or more tranches of term loans (each, an “Incremental Term Loan”), in each case in a minimum amount of $10,000,000 and an integral multiple of
$5,000,000 in excess thereof so long as, after giving effect thereto, the aggregate amount of such Commitment increases and all such Incremental Term Loans does not exceed $200,000,000. The Company may arrange for any such Commitment increase or
Incremental Term Loan to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, or to participate in such 

  
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Incremental Term Loans, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other
entity, an “Augmenting Lender”), to increase their existing Commitments, or to participate in such Incremental Term Loans, or extend Commitments, as the case may be; provided that (i) each Augmenting Lender shall
be subject to the approval of the Company and the Administrative Agent and, except in the case of an Incremental Term Loan, the Swingline Lender and the Issuing Bank, which approvals shall not be unreasonably withheld and (ii) (A) in the
case of an Increasing Lender, the Company and such Increasing Lender execute an agreement substantially in the form of Exhibit G, and (B) in the case of an Augmenting Lender, the Company and such Augmenting Lender execute an agreement
substantially in the form of Exhibit H hereto. No consent of any Lender (other than the Lenders participating in such Commitment increase or Incremental Term Loan) shall be required for any such increase or Incremental Term Loan pursuant to
this Section 2.21. 
 (b) Commitment increases, new Commitments and Incremental Term Loans created pursuant to this
Section 2.21 shall become effective on the date agreed by the Company, the Administrative Agent and the relevant Increasing Lenders and/or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding
the foregoing, no increase in the aggregate Commitments (or in the Commitment of any Lender) or Incremental Term Loan shall become effective under this paragraph unless (i) on the proposed date of the effectiveness of such Commitment increase
or Incremental Term Loan, (A) the conditions set forth in paragraphs (a) and (b) of Section 4.02 shall be satisfied both before and immediately after giving effect to such Commitment increase or Incremental Term Loan or
waived by the Required Lenders, and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Company and (B) the Company shall be in pro forma compliance
with the Consolidated Leverage Ratio covenant set forth in Section 6.05(a), with Consolidated Total Debt measured as of the date of and immediately after giving effect to any funding in connection with such Commitment increase or
Incremental Term Loan (and the application of proceeds thereof to the repayment of any other Indebtedness) and Consolidated EBITDA measured for the Reference Period then most recently ended for which the Company has delivered financial statements
pursuant to Sections 5.01(a) or (b), and (ii) the Administrative Agent shall have received documents consistent with those delivered on the Effective Date as to the corporate power and authority of the Borrowers to borrow
hereunder immediately after giving effect to such Commitment increase or Incremental Term Loan. 
 (c) On the effective date of
any increase in the aggregate Commitments or any Incremental Term Loan being made, (i) each relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in immediately available funds as the
Administrative Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving effect to such Commitment increase and the use of such amounts to make payments to such other Lenders, each Lender’s
portion of the outstanding Revolving Loans of all the Lenders to equal its Applicable Percentage of such outstanding Revolving Loans, and (ii) the Borrowers shall be deemed to have repaid and reborrowed all outstanding Revolving Loans as of the
date of any increase in the Commitments (with such reborrowing to consist of the Types of Revolving Loans, with related Interest Periods if applicable, specified in a notice delivered by the Company, in accordance with the requirements of
Section 2.03). The deemed payments made pursuant to clause (ii) of the immediately 

  
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preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each Eurocurrency Loan, shall be subject to indemnification by the Borrowers
pursuant to the provisions of Section 2.16 if the deemed payment occurs other than on the last day of the related Interest Periods. 
 (d) The Incremental Term Loans (i) shall rank pari passu in right of payment with the Revolving Loans, (ii) shall not mature earlier than the Maturity Date (but may have amortization prior to
such date) and (iii) shall be treated substantially the same as (and in any event no more favorably than) the Revolving Loans; provided that (x) the terms and conditions applicable to any Incremental Term Loan maturing after the
Maturity Date may provide for material additional or different financial or other covenants or prepayment requirements applicable only during periods after the Maturity Date and (ii) the Incremental Term Loans may be priced differently than the
Revolving Loans. 
 (e) Incremental Term Loans may be made hereunder pursuant to an amendment or restatement (an
“Incremental Term Loan Amendment”) of this Agreement and, as appropriate, the other Loan Documents, executed by the Company, each Increasing Lender participating in such Incremental Term Loan, each Augmenting Lender
participating in such Incremental Term Loan, if any, and the Administrative Agent. Each Incremental Term Loan Amendment may, without the consent of any other Lenders, effect such amendments to this Agreement and the other Loan Documents as may be
necessary or appropriate, in the reasonable opinion of the Administrative Agent, to effect the provisions of this Section 2.21. Nothing contained in this Section 2.21 shall constitute, or otherwise be deemed to be, a
commitment on the part of any Lender to increase its Commitment hereunder, or provide Incremental Term Loans, at any time. 

SECTION 2.22 Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due from
any Borrower hereunder in the currency expressed to be payable herein (the “specified currency”) into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of
exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the specified currency with such other currency at the Administrative Agent’s main New York City office on the Business
Day preceding that on which final, non-appealable judgment is given. The obligations of any Borrower in respect of any sum due to any Credit Party hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be
discharged only to the extent that on the Business Day following receipt by such Credit Party of any sum adjudged to be so due in such other currency such Credit Party may in accordance with normal, reasonable banking procedures purchase the
specified currency with such other currency. If the amount of the specified currency so purchased is less than the sum originally due to such Credit Party in the specified currency, the applicable Borrower agrees, to the fullest extent that it may
effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify such Credit Party against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum originally due to any Credit Party
in the specified currency and (b) any amounts shared with other Lenders as a result of allocations of such excess as a disproportionate payment to such Lender under Section 2.18, such Credit Party agrees to remit such excess to such
Borrower. 

  
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 SECTION 2.23 Designated Borrowers. 

(a) Effective as of the date hereof, each Subsidiary identified on Schedule 2.23 shall be a Designated Borrower hereunder and may
receive Revolving Loans for its account on the terms and conditions set forth in this Agreement. 
 (b) The Company may at any
time, upon not less than fifteen (15) Business Days’ notice from the Company to the Administrative Agent (or such shorter period as may be agreed by the Administrative Agent in its sole discretion), designate any additional wholly owned
Subsidiary of the Company (an “Applicant Borrower”) as a Designated Borrower to receive Revolving Loans hereunder by delivering to the Administrative Agent (which shall promptly deliver counterparts thereof to each Lender) a
duly executed notice and agreement in substantially the form of Exhibit C (a “Designated Borrower Request and Assumption Agreement”). The parties hereto acknowledge and agree that prior to any Applicant Borrower
becoming entitled to utilize the credit facilities provided for herein the Administrative Agent and the Lenders shall have received such supporting resolutions, incumbency certificates, opinions of counsel and other documents or information, in
form, content and scope reasonably satisfactory to the Administrative Agent, as may be required by the Administrative Agent or the Required Lenders in their reasonable discretion, and promissory notes signed by such new Borrowers to the extent any
Lenders so require. If the Administrative Agent and the Required Lenders agree that the foregoing conditions have been satisfied, then promptly following receipt of all such requested resolutions, incumbency certificates, opinions of counsel and
other documents or information, the Administrative Agent shall send a notice in substantially the form of Exhibit D (a “Designated Borrower Notice”) to the Company and the Lenders specifying the effective date upon
which the Applicant Borrower shall constitute a Designated Borrower for purposes hereof, whereupon each of the Lenders agrees to permit such Designated Borrower to receive Revolving Loans hereunder, on the terms and conditions set forth herein, and
each of the parties agrees that such Designated Borrower otherwise shall be a Borrower for all purposes of this Agreement; provided that no Borrowing Request may be submitted on behalf of such Designated Borrower until the date that is five
(5) Business Days after such effective date. 
 (c) The Obligations of the Company and each Designated Borrower that is a
Domestic Subsidiary shall be joint and several in nature regardless of which Borrower actually borrows Revolving Loans hereunder or the amount of such Revolving Loans borrowed or the manner in which the Administrative Agent or any Lender accounts
for such Revolving Loans on its books and records. The Obligations of all Designated Borrowers that are Foreign Subsidiaries shall be several in nature. 
 (d) Each Subsidiary that is or becomes a Designated Borrower pursuant to this Section 2.23 hereby irrevocably appoints the Company as its agent for all purposes relevant to the Loan Documents,
including (i) the giving and receipt of notices, (ii) the execution and delivery of all documents, instruments and certificates contemplated herein and all modifications hereto, and (iii) the receipt of the proceeds of any Revolving
Loans made by the Lenders to any such Designated Borrower hereunder. Any acknowledgment, consent, direction, certification or other action which might otherwise be valid or effective only if given or taken by all Borrowers, or by each Borrower
acting singly, shall be valid and effective if given or taken only by the Company, whether or not any such other Borrower joins therein. Any notice, demand, consent, 

  
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acknowledgement, direction, certification or other communication delivered to the Company in accordance with the terms of this Agreement shall be deemed to have been delivered to each Designated
Borrower. 
 (e) The Company may from time to time, upon not less than fifteen (15) Business Days’ notice from the
Company to the Administrative Agent (or such shorter period as may be agreed by the Administrative Agent in its sole discretion), terminate a Designated Borrower’s status as such, provided that there are no outstanding Revolving Loans payable
by such Designated Borrower, or other amounts payable by such Designated Borrower on account of any Revolving Loans made to it, as of the effective date of such termination. The Administrative Agent will promptly notify the Lenders of any such
termination of a Designated Borrower’s status. 
 (f) If the selection of a particular Designated Borrower results (or is
reasonably anticipated to result) in amounts becoming payable under Section 2.17, the Company may make a written request to the Administrative Agent for an amendment to this Agreement that would create a separate tranche of Lenders to
provide credit to such Designated Borrower in a manner that would eliminate or minimize amounts payable under Section 2.17. The Administrative Agent and the Lenders agree to consider such amendment request in good faith. The Company
hereby agrees to pay (or to cause the applicable Designated Borrower to pay) all reasonable costs and expenses incurred by the Administrative Agent or any Lender in connection with any such amendment. 

ARTICLE III 

Representations and Warranties 
 Except as otherwise provided in Section 3.12, each Borrower represents and warrants to the Lenders that: 

SECTION 3.01 Organization; Powers. Each Borrower (a) is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and
(ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is qualified to do business in, and is licensed and in good standing under the laws of, every jurisdiction where such qualification
is required; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 

SECTION 3.02 Authorization; Enforceability. The Transactions are within each Borrower’s corporate powers and
have been duly authorized by all necessary corporate and, if required, stockholder action. Each Loan Document has been duly executed and delivered by each Borrower that is a party thereto and constitutes a legal, valid and binding obligation of each
such Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights 

  
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generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 

SECTION 3.03 Governmental Approvals; No Conflicts. The Transactions do not and will not (a) require any
consent or approval of, registration or filing with, or any other action by, any Governmental Authority or any other Person, (b) violate any applicable law, rule or regulation of any Governmental Authority or any Organization Document of any
Borrower, and (c) conflict with or result in any material breach or contravention of, or the creation of any material Lien under, or require any material payment to be made under (i) any material Contractual Obligation to which any
Borrower is a party or affecting any Borrower or the properties of any Borrower or any of its Subsidiaries or (ii) any order, injunction, writ or decree of any Governmental Authority or any arbitral award to which any Borrower or the properties
of any Borrower or any of its Subsidiaries is subject. 
 SECTION 3.04 Financial Condition; No Material
Adverse Change. 
 (a) The Company has heretofore furnished to the Lenders its consolidated balance sheet and statements of
income or operations, shareholders’ equity and cash flows (i) as of and for the fiscal year ended September 30, 2010, reported on by Deloitte and Touche LLP, independent public accountants, and (ii) as of and for the fiscal
quarter and the portion of the fiscal year ended June 30, 2011, certified by its Financial Officer. Such financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the
Company and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above.

 (b) Since September 30, 2010, there has been no development, event or circumstance, either individually or in the
aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.05
Litigation and Environmental Matters. 
 (a) There are no actions, suits, proceedings, claims or disputes pending or, to
the knowledge of the Borrowers after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against the Company or any Subsidiary or against any of their properties
or revenues that (i) except as described in the Company’s 2010 Form 10-K or any subsequent Form 10-Q or Form 8-K filing prior to the Effective Date (the “Disclosed Litigation”), could, either individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect, or (ii) purport to affect or pertain to any Loan Document or the Transactions. 
 (b) The Company and its Subsidiaries conduct in the ordinary course of business a review of the effect of existing Environmental Laws and claims alleging potential liability or responsibility for
violation of any Environmental Law on their respective businesses, operations and properties, and as a result thereof the Borrowers have reasonably concluded that, except for the Disclosed Litigation, violation of such Environmental Laws and claims
could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

  
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 SECTION 3.06 Compliance with Laws and Agreements; No Default.

 (a) Each of the Borrowers and Significant Subsidiaries is in compliance with the requirements of all laws, rules and
regulations and orders, writs and decrees of any Governmental Authority applicable to it or its properties, except to the extent that (i) failure to comply therewith could not, individually or in the aggregate, reasonably be expected to result
in a Material Adverse Effect and (ii) such requirement is being contested in good faith by appropriate proceedings diligently conducted. Each Borrower is in compliance with all material Contractual Obligations to which such Borrower is a party
or affecting such Borrower or the properties of such Borrower or any of its Subsidiaries, except to the extent that failure to comply therewith could not reasonably be expected to result in a Material Adverse Effect. 

(b) No Default has occurred and is continuing or would result from the consummation of the Transactions. 

SECTION 3.07 Investment Company Status; Margin Regulations. 

(a) Neither the Company, nor any Person Controlling the Company nor any Subsidiary is or is required to be registered as an
“investment company” under the Investment Company Act of 1940. 
 (b) No Borrower is engaged or will engage,
principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U of the Board), or extending credit for the purpose of purchasing or carrying margin stock. 

SECTION 3.08 Taxes. Each of the Borrowers and Significant Subsidiaries has timely filed or caused to be filed all
federal, state and other material Tax returns and reports required to have been filed and have paid or caused to be paid all federal, state and other material Taxes required to have been paid by it, except Taxes that are being contested in good
faith by appropriate proceedings diligently conducted and for which such Borrower or such Significant Subsidiary, as applicable, has set aside on its books adequate reserves. There is no proposed Tax assessment against any Borrower or any Subsidiary
that would, if made, have a Material Adverse Effect. Neither any Borrower nor any Subsidiary is party to any tax sharing agreement. 
 SECTION 3.09 ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur,
could reasonably be expected to result in a Material Adverse Effect. The present value of all accumulated benefit obligations under each Plan (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did
not, as of the date of the most recent financial statements reflecting such amounts, exceed the fair market value of the assets of such Plan by an amount that could reasonably be expected to result in a Material Adverse Effect, and the present value
of all accumulated benefit obligations of all underfunded Plans (based on the assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did not, as of the date of the most recent financial statements reflecting such
amounts, exceed the fair market value of the assets 

  
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of all such underfunded Plans by an amount that could reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.10 Disclosure. All information heretofore furnished by the Borrowers to the Administrative Agent or any
Lender for purposes of or in connection with the Loan Documents or the Transactions is, and all such information hereafter furnished by the Borrowers to the Administrative Agent or any Lender will be, true and accurate in all material respects on
the date as of which such information is stated or certified. The Borrowers have disclosed to the Lenders in writing any and all facts known to the Borrowers’ management which could reasonably be expected to result in a Material Adverse Effect.

 SECTION 3.11 Subsidiaries. Each Significant Subsidiary (a) is duly organized, validly existing and in good
standing under the laws of the jurisdiction of its organization, and (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to own or lease its assets and carry on its business,
except in each case referred to in this clause (b) to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 SECTION 3.12 Representations as to Foreign Obligors. Each of the Company and each Foreign Obligor represents and warrants to the Lenders that: 

(a) Such Foreign Obligor is subject to civil and commercial laws, rules and regulations with respect to its obligations under the Loan
Documents to which it is a party (collectively, the “Applicable Foreign Obligor Documents”), and the execution, delivery and performance by such Foreign Obligor of the Applicable Foreign Obligor Documents constitute and will
constitute private and commercial acts and not public or governmental acts. Neither any Foreign Obligor nor any of its property has any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment
prior to judgment, attachment in aid of execution, execution or otherwise) under the laws of the jurisdiction in which such Foreign Obligor is organized and existing in respect of its obligations under the Applicable Foreign Obligor Documents.

 (b) The Applicable Foreign Obligor Documents are in proper legal form under the laws, rules and regulations of the
jurisdiction in which such Foreign Obligor is organized and existing for the enforcement thereof against such Foreign Obligor under the laws, rules and regulations of such jurisdiction, and to ensure the legality, validity, enforceability, priority
or admissibility in evidence of the Applicable Foreign Obligor Documents. It is not necessary to ensure the legality, validity, enforceability, priority or admissibility in evidence of the Applicable Foreign Obligor Documents that the Applicable
Foreign Obligor Documents be filed, registered or recorded with, or executed or notarized before, any court or other authority in the jurisdiction in which any Foreign Obligor is organized and existing or that any registration charge or stamp or
similar tax be paid on or in respect of the Applicable Foreign Obligor Documents or any other document, except for (i) any such filing, registration, recording, execution or notarization as has been made or is not required to be made until the
Applicable Foreign Obligor Document or any other document is sought to be enforced and (ii) any charge or tax as has been timely paid. 

  
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 (c) There is no Tax imposed by any Governmental Authority in or of the jurisdiction in
which such Foreign Obligor is organized and existing either (i) on or by virtue of the execution or delivery of the Applicable Foreign Obligor Documents or (ii) on any payment to be made by such Foreign Obligor pursuant to the Applicable
Foreign Obligor Documents, except as has been disclosed to the Administrative Agent. 
 (d) The execution, delivery and
performance of the Applicable Foreign Obligor Documents executed by such Foreign Obligor are, under applicable foreign exchange control regulations of the jurisdiction in which such Foreign Obligor is organized and existing, not subject to any
notification or authorization except (i) such as have been made or obtained or (ii) such as cannot be made or obtained until a later date (provided that any notification or authorization described in clause (ii) shall be made or
obtained as soon as is reasonably practicable). 
 SECTION 3.13 Use of Proceeds. The proceeds of the Loans
will be used only for the purposes specified in Section 5.08. 
 SECTION 3.14 OFAC. No Borrower is currently
the subject of any Sanctions or is located, organized or residing in any Designated Jurisdiction. To the Borrowers’ knowledge, no Loan or other credit extension hereunder, nor the proceeds thereof, has been used, directly or indirectly, to lend
to, or otherwise fund, (i) any business in any Designated Jurisdiction or (ii) any business of any Person located, organized or residing in any Designated Jurisdiction or who is the subject of any Sanctions. 

ARTICLE IV 

Conditions 
 SECTION 4.01 Effective Date. The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the
following conditions is satisfied (or waived in accordance with Section 10.02): 
 (a) The Administrative Agent (or
its counsel) shall have received from each party to the Loan Documents either (i) a counterpart of each Loan Document to which such Person is a party, signed on behalf of such Person or (ii) written evidence satisfactory to the
Administrative Agent (which may include telecopy transmission of a signed signature page of each Loan Document to which such Person is a party) that such Person has signed a counterpart of each such Loan Document. 

(b) The Administrative Agent shall have received a favorable written opinion (addressed to the Administrative Agent and the Lenders and
dated the Effective Date) of counsel for the Borrowers covering such matters relating to the Borrowers, the Loan Documents and the Transactions as the Required Lenders shall reasonably request and otherwise in form and substance reasonably
satisfactory to the Administrative Agent. 

  
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 (c) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization, existence and good standing of each Borrower, the authorization of the Transactions and any other legal matters relating to the Borrowers, the Loan Documents
and the Transactions, all in form and substance satisfactory to the Administrative Agent and its counsel. 
 (d) The
Administrative Agent shall have received a certificate, dated the Effective Date and signed by the President, a Vice President or a Financial Officer of the Company, confirming compliance with the conditions set forth in paragraphs (a) and
(b) of Section 4.02. 
 (e) The Administrative Agent and the Lenders shall have received all fees and other
amounts due and payable pursuant to this Agreement on or prior to the Effective Date, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrowers hereunder. 

(f) The Administrative Agent shall have received (i) satisfactory audited consolidated financial statements of the Company and its
Subsidiaries for the two (2) most recent fiscal years ended prior to the Effective Date and (ii) satisfactory unaudited interim consolidated financial statements of the Company and its Subsidiaries for each quarterly period ended
subsequent to the date of the latest financial statements delivered pursuant to the foregoing clause (i) as to which such financial statements are available. 
 (g) The Administrative Agent and the Lenders shall have received (i) all documentation and other information reasonably requested by the Lenders or the Administrative Agent under applicable
“know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act, and (ii) such other documents and instruments as are customary for transactions of this type or as they may reasonably request.

 (h) The Administrative Agent shall have received evidence that all governmental and third party approvals necessary or, in
the reasonable discretion of the Administrative Agent, advisable in connection with the financing contemplated hereby and the continuing operations of the Company and its Subsidiaries shall have been obtained and be in full force and effect.

 (i) The Administrative Agent shall have received evidence satisfactory to it that the Existing Credit Agreement has been or
concurrently with the Effective Date is being terminated. 
 The Administrative Agent shall notify the Company and the Lenders of the Effective
Date, and such notice shall be conclusive and binding. Notwithstanding the foregoing, the obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective unless each of the foregoing
conditions is satisfied (or waived pursuant to Section 10.02) at or prior to 3:00 p.m., New York City time, on September 30, 2011 (and, in the event such conditions are not so satisfied or waived, the Commitments shall terminate at
such time). 

  
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 SECTION 4.02 Each Credit Event. The obligation of each Lender to make
a Loan on the occasion of any Borrowing, and of the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction of the following conditions: 

(a) The representations and warranties of the Borrowers set forth in the Loan Documents (other than the representations and warranties
set forth in Sections 3.04(b), 3.05 and 3.09 with respect to any Borrowing or issuance, amendment, renewal or extension of any Letter of Credit after the Effective Date) shall be true and correct in all material respects (or in
all respects if the applicable representation or warranty is already qualified by concepts of materiality) on and as of the date of such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit, as applicable.

 (b) At the time of and immediately after giving effect to such Borrowing or the issuance, amendment, renewal or extension of
such Letter of Credit, as applicable, no Default shall have occurred and be continuing. 
 Each Borrowing and each issuance, amendment, renewal
or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Borrowers on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section. 

SECTION 4.03 Initial Credit Event for each Additional Borrower. The obligation of each Lender to make Loans to any Designated
Borrower that becomes a Designated Borrower after the Effective Date is subject to the satisfaction of the following conditions: 
 (a) The Administrative Agent (or its counsel) shall have received such Designated Borrower’s Designated Borrower Request and Assumption Agreement duly executed by all parties thereto. 

(b) The Administrative Agent shall have received such documents (including such legal opinions) as the Administrative Agent or its
counsel may reasonably request relating to the formation, existence and good standing of such Designated Borrower, the authorization of the Transactions insofar as they relate to such Designated Borrower and any other legal matters relating to such
Designated Borrower, its Designated Borrower Request and Assumption Agreement or such Transactions, including, with respect to any Designated Borrower organized under the laws of any jurisdiction outside of the United States of America, a legal
opinion from such Designated Borrower’s counsel in such jurisdiction, all in form and substance satisfactory to the Administrative Agent and its counsel. 
 (c) The Administrative Agent and the Lenders shall have received all documentation and other information reasonably requested by the Lenders or the Administrative Agent under applicable “know your
customer” and anti-money laundering rules and regulations, including the USA Patriot Act. 

  
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 ARTICLE V 
 Affirmative Covenants 
 Until the Commitments have expired or been
terminated and the principal of and interest on each Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall have expired or terminated or been cash collateralized or otherwise secured on terms and conditions
reasonably satisfactory to the Issuing Bank, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, the Company (with respect to the covenants set forth in Sections 5.01 and 5.02) and each Borrower
(with respect to all other covenants set forth in this Article V) covenants and agrees with the Lenders that: 
 SECTION 5.01 Financial Statements and Other Information. The Company will furnish to the Administrative Agent and each Lender: 

(a) within seven (7) Business Days following the date such information is filed with the SEC, and in any event not later than
ninety-seven (97) days after the end of each fiscal year of the Company, its audited consolidated balance sheet and related statements of income or operations, shareholders’ equity and cash flows as of the end of and for such year, setting
forth in each case in comparative form the figures for the previous fiscal year, all reported on by Deloitte & Touche LLP or other independent public accountants of recognized national standing (without a “going concern” or like
qualification or exception or any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the
Company and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP; 
 (b) within seven
(7) Business Days following the date such information is filed with the SEC, and in any event not later than fifty-two (52) days after the end of each of the first three (3) fiscal quarters of each fiscal year of the Company, its
consolidated balance sheet and related statements of income or operations, shareholders’ equity and cash flows as of the end of and for such fiscal quarter and the then elapsed portion of the fiscal year, setting forth in each case in
comparative form the figures for the corresponding period or periods of (or, in the case of the balance sheet, as of the end of) the previous fiscal year, all certified by one of its Financial Officers as presenting fairly in all material respects
the financial condition and results of operations of the Company and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP, subject to normal year-end audit adjustments and the absence of footnotes; 

(c) concurrently with any delivery of financial statements under clause (a) or (b) above, a duly completed Compliance
Certificate signed by a Financial Officer of the Company; 
 (d) promptly after the same become available, copies of all
periodic and other reports, proxy statements and other materials filed by the Company or any Subsidiary with the SEC or with any national securities exchange, or distributed by the Company to its shareholders generally, as the case may be;

  
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 (e) promptly, and in any event within seven (7) Business Days after receipt thereof by
the Company or any Subsidiary, copies of each notice or other correspondence received from the SEC (or comparable agency in any applicable foreign jurisdiction) concerning any investigation or possible investigation or other inquiry by such agency
regarding financial or other operational results of the Company or any Subsidiary; and 
 (f) promptly following any request
therefor, such other information regarding the operations, business affairs and financial condition of the Company or any Subsidiary, or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may reasonably
request. 
 Documents required to be delivered pursuant to clauses (a), (b) or (d) of this Section (to the extent any
such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Company posts such documents, or provides a link
thereto on the Company’s website on the Internet; or (ii) on which such documents are posted on the Company’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided that: (x) the Company shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Company to deliver
such paper copies until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (y) the Company shall notify the Administrative Agent and each Lender (by telecopier or electronic mail) of the
posting of any such documents and provide to the Administrative Agent by electronic mail electronic versions (i.e., soft copies) of such documents. The Administrative Agent shall have no obligation to request the delivery or to maintain
copies of the documents referred to above, and in any event shall have no responsibility to monitor compliance by the Company with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or
maintaining its copies of such documents. 
 SECTION 5.02 Notices of Material Events. The Company will
furnish to the Administrative Agent and each Lender prompt written notice of the following: 
 (a) the occurrence of any
Default; 
 (b) the occurrence of any ERISA Event (other than an ERISA Event under any of clauses (j), (l) or (m) of
the definition thereof that could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect); 
 (c) any material change in accounting policies or financial reporting practices by the Company or any Subsidiary not otherwise reported in the Company’s SEC filings; 

(d) any published announcement by Moody’s or S&P of any change or possible change in the rating established or deemed to have
been established for the Index Debt; and 
 (e) any other development that results in, or could reasonably be expected to
result in, a Material Adverse Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation of the Company or any Subsidiary; (ii) any dispute, litigation,

  
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investigation, proceeding or suspension between the Company or any Subsidiary and any Governmental Authority; and (iii) the commencement of, or any material development in, any litigation or
proceeding affecting the Company or any Subsidiary, including pursuant to any applicable Environmental Laws. 
 Each notice delivered under this
Section shall be accompanied by a statement of a Financial Officer or other executive officer of the Company setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect
thereto. 
 SECTION 5.03 Existence; Conduct of Business. It will, and will cause each of its Subsidiaries
to, (a) preserve, renew and keep in full force and effect its legal existence, (b) preserve, renew and keep in full force and effect its good standing under the laws of the jurisdiction of its organization except as permitted under
Section 6.02, (c) take all reasonable action to maintain all rights, licenses, permits, privileges and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not
reasonably be expected to have a Material Adverse Effect; and (d) preserve and renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse
Effect; provided that the foregoing shall not prohibit any merger, consolidation, sale, liquidation or dissolution permitted under Section 6.02. 

SECTION 5.04 Payment of Obligations. It will, and will cause each of its Subsidiaries to, pay its material
obligations and liabilities, including (a) all Tax liabilities, except where (i) the validity or amount thereof is being contested in good faith by appropriate proceedings diligently conducted and (ii) the Company or such Subsidiary
has set aside on its books adequate reserves with respect thereto in accordance with GAAP, (b) all lawful material claims which, if unpaid, would by law become a Lien upon its property (other than Liens permitted by Section 6.01),
and (c) all Indebtedness, as and when due and payable, but subject to any subordination provisions contained in any instrument or agreement evidencing such Indebtedness. 

SECTION 5.05 Maintenance of Properties; Insurance. 

(a) It will, and will cause each of its Subsidiaries to, (i) keep and maintain all property material to the conduct of its business
in good working order and condition, ordinary wear and tear excepted, and (ii) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material
Adverse Effect; provided that nothing in Section 5.05(a) shall prevent the Company or any Subsidiary from discontinuing the operations and maintenance of any of its properties or those of its Subsidiaries if such discontinuance
is, in the judgment of the Company or such Subsidiary, desirable in the conduct of its or their business and which do not in the aggregate cause a Material Adverse Effect. Except as provided above, the Borrowers shall maintain direct ownership of
the majority of the tangible and intangible assets employed in connection with the Borrowers’ United States domestic carbon black business. 

  
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 (b) It will, and will cause each of its Significant Subsidiaries to, maintain, with
financially sound and reputable insurance companies that are not Affiliates of the Company, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses. 

SECTION 5.06 Books and Records; Inspection Rights. 

(a) It will, and will cause each of its Subsidiaries to, keep proper books of record and account in which full, true and correct entries
in conformity with GAAP are made of all financial dealings and transactions in relation to its business and activities. 
 (b)
It will, and will cause each of its Subsidiaries to, permit any representatives and independent contractors designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make
extracts from its books and records, and to discuss its affairs, finances and accounts with its directors, officers and independent accountants, all at the expense of the Company and at such reasonable times during normal business hours and not more
than once each fiscal year; provided that if an Event of Default has occurred and is continuing, such representatives and independent contractors may do any of the foregoing at the expense of the Company at any time during normal business
hours and without prior notice. 
 SECTION 5.07 Compliance with Laws. It will, and will cause each of its
Subsidiaries to, comply with all laws, rules and regulations and orders, injunctions, writs and decrees of any Governmental Authority applicable to it or its property, except where (a) the failure to do so could not reasonably be expected to
result in a Material Adverse Effect and (b) the requirement to do so is being contested in good faith by appropriate proceedings diligently conducted. 
 SECTION 5.08 Use of Proceeds. The proceeds of the Loans will be used only for general corporate purposes of the Company and its Subsidiaries in the ordinary course of business, including Permitted
Acquisitions. 
 ARTICLE VI 
 Negative Covenants 
 Until the Commitments have expired or terminated and
the principal of and interest on each Loan and all fees payable hereunder have been paid in full and all Letters of Credit have expired or terminated or been cash collateralized or otherwise secured on terms and conditions reasonably satisfactory to
the Issuing Bank, in each case, without any pending draw, and all LC Disbursements shall have been reimbursed, each Borrower covenants and agrees with the Lenders that: 

SECTION 6.01 Liens. It will not, and will not permit any of its Subsidiaries to, create, incur, assume or permit to
exist any Lien on any property, asset or revenue now owned or hereafter acquired by it, except: 
 (a) Permitted Encumbrances;

  
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 (b) Liens on any property or asset of the Company or any Subsidiary existing on the date
hereof and set forth in Schedule 6.01; provided that (i) such Lien shall not apply to any other property or asset of the Company or any Subsidiary and (ii) such Lien shall secure only those obligations which it secures on the
date hereof and extensions, renewals and replacements thereof that do not increase the outstanding principal amount thereof; 

(c) any Lien existing on any property or asset of a Person prior to the acquisition thereof by the Company or any Subsidiary or prior to
merger or consolidation of such Person into the Company or any Subsidiary, or existing on any property or asset of any Person that becomes a Subsidiary after the date hereof prior to the time such Person becomes a Subsidiary; provided that,
in each case, (i) such Lien is not created in contemplation of or in connection with such acquisition, merger or consolidation or such Person becoming a Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property
or assets of the Company or any Subsidiary and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Subsidiary, as the case may; 

(d) Liens securing purchase money Indebtedness; provided that (i) such Liens do not at any time encumber any property other
than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property being acquired on the date of acquisition; 

(e) any interest of title of a lessor under, and Liens arising from UCC financing statements (or equivalent filings, registrations or
agreements in foreign jurisdictions) relating to, leases permitted by this Agreement; 
 (f) leases or subleases granted to
others not interfering in any material respect with the business of the Company or any Subsidiary; 
 (g) Liens created or
deemed to exist in connection with a Securitization Transaction (including any related filings of any UCC financing statements (or equivalent filings, registrations or agreements in foreign jurisdictions)) securing Indebtedness in an aggregate
amount not to exceed $200,000,000 during the term of this Agreement, but only to the extent that any such Lien relates to the applicable property actually sold, contributed, financed or otherwise conveyed or pledged pursuant to such transaction;

 (h) normal and customary rights of setoff upon deposits of cash in favor of banks or other depository institutions;

 (i) Liens on commodities subject to any arrangement permitted under Section 6.03; 

(j) Liens securing Indebtedness (for working capital purposes) of any Foreign Subsidiary, but only to the extent that any such Lien
relates to the property or assets of such Foreign Subsidiary; 
 (k) Liens arising pursuant to any Swap Agreement; 

  
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 (l) any Lien arising out of the refinancing, extension, renewal or refunding of any
Indebtedness secured by any Lien permitted by any of the foregoing clauses of this Section, provided that such Indebtedness is not increased and is not secured by any additional assets; 

(m) Liens arising in the ordinary course of business that (i) do not secure Indebtedness, (ii) do not secure any single
obligation exceeding $50,000,000 and (iii) do not in the aggregate materially detract from the value of the assets of the Company or any Subsidiary or materially impair the use thereof in the operation of its business; 

(n) Liens on cash collateral created hereunder in favor of any Credit Party; and 

(o) Liens not otherwise permitted by the foregoing clauses of this Section securing Indebtedness in an aggregate principal amount at any
time outstanding not to exceed ten percent (10%) of Consolidated Tangible Net Worth. 
 SECTION 6.02 Fundamental
Changes. It will not, and will not permit any of its Subsidiaries to, merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one
transaction or in a series of transactions) all or substantially all of its assets, or all or substantially all of the Equity Interests of any Subsidiary (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that,
if at the time thereof and immediately after giving effect thereto no Default shall have occurred and be continuing: 
 (a) any
Subsidiary (i) may merge with the Company, provided that the Company shall be the continuing or surviving Person, (ii) may merge with any Designated Borrower, provided that such Designated Borrower shall be the continuing or
surviving Person, or (iii) that is not a Borrower may merge with or into any other Subsidiary that is not a Borrower; 

(b) any Subsidiary may sell, transfer, lease or otherwise dispose of all or substantially all of its assets (upon voluntary liquidation
or otherwise) to the Company or to another Subsidiary; provided that if the transferor in such a transaction is a Borrower, then the transferee must be a Borrower; 
 (c) the Company may sell, transfer, lease or otherwise dispose of its assets, or any Subsidiary may sell, transfer, lease or otherwise dispose of all or substantially all of its assets, so long as the
aggregate net book value of all such assets sold, transferred, leased or otherwise disposed of by the Company and its Subsidiaries in all transactions occurring from and after the date of this Agreement shall not exceed an amount equal to
twenty-five percent (25%) of Consolidated Total Tangible Assets, measured as the sum of the percentages for each such transaction, in each case based upon the Consolidated Total Tangible Assets as of the end of the most recently completed
fiscal year prior to the applicable sale, transfer, lease or other disposition; and 
 (d) the Company may sell its supermetals
business to Global Advanced Metals Pty. Ltd. as described in the Company’s report on Form 8-K dated August 25, 2011. 

  
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 SECTION 6.03 Investments, Loans, Advances, Guarantees and
Acquisitions. It will not, and will not permit any of its Subsidiaries to, make any Investment where the aggregate consideration for such Investment exceeds $100,000,000, other than Permitted Investments and Permitted Acquisitions. 

SECTION 6.04 Transactions with Affiliates. It will not, and will not permit any of its Subsidiaries to, enter into
any transaction of any kind with any Affiliate of the Company, whether or not in the ordinary course of business, other than (a) reasonable and customary fees paid to members of the board of directors of the Company and its Subsidiaries,
(b) transactions otherwise expressly permitted hereunder between the Company or any Subsidiary and any such Affiliate or (c) on fair and reasonable terms substantially as favorable to the Company or such Subsidiary as would be obtainable
by the Company or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate. 
 SECTION 6.05 Financial Covenants. 
 (a) It will not permit the
Consolidated Leverage Ratio as of the last day of any Reference Period to be greater than 3.50:1.00. 
 (b) It will not permit,
at any time, the aggregate Indebtedness of all Subsidiaries (excluding Indebtedness of a Subsidiary owing to a Borrower or to another Subsidiary) to exceed 30% of Total Capitalization. 

(c) It will not permit the Consolidated Interest Coverage Ratio as of the last day of any Reference Period to be less than 3:00:1.00.

 SECTION 6.06 Organization Documents. It will not, and will not permit any of its Subsidiaries to, amend, modify or
change its Organization Documents in any manner which could materially adversely affect the rights of the Credit Parties under the Loan Documents. 
 SECTION 6.07 Use of Proceeds. It will not, and will not permit any of its Subsidiaries to, use any part of the proceeds of any Loan to be used, whether directly or indirectly, and whether
immediately, incidentally or ultimately, for any purpose that entails a violation of any of the Regulations of the Board (including Regulations T, U and X), including to purchase or carry margin stock (within the meaning of Regulation U) other than
stock of the Company or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose. 
 ARTICLE VII 
 Events of Default 

If any of the following events (“Events of Default”) shall occur: 

(a) any Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and
as the same shall become due and payable, whether at the due date thereof or otherwise; 

  
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 (b) any Borrower shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount referred to in clause (a) of this Article) payable under this Agreement or any other Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five
(5) days; 
 (c) any representation or warranty made or deemed made by or on behalf of the Company or any Subsidiary in or
in connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in
connection with this Agreement or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall prove to have been incorrect in any material respect (or in any respect if such representation or
warranty is already qualified by concepts of materiality) when made or deemed made; 
 (d) (i) any Borrower shall fail to
observe or perform any covenant, condition or agreement contained in Section 5.03(a), 5.06(b) or 5.08 or in Article VI, or (ii) the Company shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.01 or 5.02 and such failure shall continue unremedied for a period of five (5) Business Days after the earlier of any of the chief executive officer, president or any Financial Officer of the Company
becoming aware of such failure or notice thereof by the Administrative Agent; 
 (e) any Borrower shall fail to observe or
perform any covenant, condition or agreement contained in any Loan Document (other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of thirty (30) days after
written notice from the Administrative Agent; 
 (f) the Company or any Significant Subsidiary (i) shall fail to make any
payment when due (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise) in respect of any Indebtedness or Guarantee having an aggregate principal amount (including undrawn committed or available amounts and including
amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $50,000,000, or (ii) shall fail to observe or perform any other agreement or condition relating to any such Indebtedness or Guarantee having an
aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $50,000,000 or contained in any instrument or agreement
evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee
or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or
otherwise), or an offer to repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; 

(g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (i) liquidation, reorganization
or other relief in respect of any Borrower or any Significant Subsidiary or its debts, or of a substantial part of its assets, under any Federal, 

  
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state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or
similar official for any Borrower or any Significant Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed or unstayed for sixty (60) days or an order or decree
approving or ordering any of the foregoing shall be entered; 
 (h) any Borrower or any Significant Subsidiary shall
(i) voluntarily commence any proceeding or file any petition seeking liquidation, reorganization or other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law now or hereafter in effect,
(ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in clause (g) of this Article, (iii) apply for or consent to the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for any Borrower or any Significant Subsidiary or for a substantial part of its assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such
proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing; 
 (i) any Borrower or any Significant Subsidiary shall become unable, admit in writing its inability or fail generally to pay its debts as they become due; 

(j) one or more final judgments for the payment of money in an aggregate amount in excess of $50,000,000 (to the extent not covered by
independent third-party insurance as to which the insurer does not dispute coverage) shall be rendered against any Borrower or any Subsidiary and (i) the same shall remain undischarged for a period of ten (10) consecutive days during which
execution shall not be effectively stayed by reason or pending appeal or otherwise, or (ii) any action shall be legally taken by a judgment creditor to attach or levy upon any assets of any Borrower or any Subsidiary to enforce any such
judgment; 
 (k) an ERISA Event shall have occurred that, when taken together with all other ERISA Events that have occurred,
could reasonably be expected to result in liability of the Company and its Subsidiaries in an aggregate amount exceeding $50,000,000 from and after the Effective Date; 
 (l) a Change in Control shall occur; or 
 (m) any material provisions of any Loan
Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or satisfaction in full of all the Obligations, shall cease to be in full force and effect; or any Borrower or any other Person
shall contest in any manner the validity or enforceability of any material provision of any Loan Document; or any Borrower shall deny that it has any or further liability or obligation under any material provisions of any Loan Document, or shall
purport to revoke, terminate or rescind any material provision of any Loan Document; 
 then, and in every such event (other than an event with
respect to any Borrower described in clause (g) or (h) of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the written request of the Required Lenders shall, by notice to
the Company, take either or both of the following actions, at the same or different 

  
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times: (i) terminate the Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans then outstanding to be due and payable in whole (or in part,
in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and
other Obligations of the Borrowers accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers; and in case of any event with respect
to any Borrower described in clause (g) or (h) of this Article, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other Obligations of the
Borrowers accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrowers. 

ARTICLE VIII 

The Administrative Agent 
 Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent as its agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such
powers as are delegated to the Administrative Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto. 
 Any Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the
Administrative Agent, and such Person and its Affiliates may accept deposits from, lend money to and generally engage in any kind of business with the Company or any Subsidiary or other Affiliate thereof as if it were not the Administrative Agent
hereunder. 
 The Administrative Agent shall not have any duties or obligations except those expressly set forth herein. Without
limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the Administrative Agent shall not
have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing as directed by the Required
Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.02), and (c) except as expressly set forth herein, the Administrative Agent shall not have any duty
to disclose, and shall not be liable for the failure to disclose, any information relating to the Company or any Subsidiary that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity.
The Administrative Agent shall not be liable for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as
provided in Section 10.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until written notice thereof is given to the
Administrative Agent by the Company or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan
Document, (ii)

  
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the contents of any certificate, report or other document delivered under any Loan Document or in connection therewith, (iii) the performance or observance of any of the covenants,
agreements or other terms or conditions set forth in any Loan Document, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, or (v) the satisfaction of any
condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 
 The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing
believed by it to be genuine and to have been signed or sent by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur
any liability for relying thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrowers), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by
it in accordance with the advice of any such counsel, accountants or experts. 
 The Administrative Agent may perform any and
all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 Subject to the appointment and acceptance of a successor Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the Issuing Bank and
the Company. Upon any such resignation, the Required Lenders shall have the right, in consultation with the Company, to appoint a successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such
appointment within thirty (30) days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may, on behalf of the Lenders and the Issuing Bank, appoint a successor Administrative Agent
which shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Company to a successor Administrative Agent
shall be the same as those payable to its predecessor unless otherwise agreed between the Company and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 10.03 shall
continue in effect for the benefit of such retiring Administrative Agent, its sub agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent.

  
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 Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into the Loan Documents. Each Lender also acknowledges that it will, independently
and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon
the Loan Documents, any related agreement or any document furnished thereunder. 
 ARTICLE IX 

Guaranty 

In order to induce the Lenders to extend credit to the Designated Borrowers hereunder, the Company hereby irrevocably and unconditionally
guarantees, as a primary obligor and not merely as a surety, the payment when and as due of the Obligations of the Designated Borrowers. The Company further agrees that the due and punctual payment of such Obligations may be extended or renewed, in
whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal of any such Obligation. 

The Company waives presentment to, demand of payment from and protest to any Designated Borrower of any of the Obligations, and also
waives notice of acceptance of its obligations and notice of protest for nonpayment. The obligations of the Company hereunder shall not be affected by (a) the failure of any Credit Party to assert any claim or demand or to enforce any right or
remedy against any Borrower under the provisions of any Loan Document or otherwise, (b) any extension or renewal of any of the Obligations, (c) any rescission, waiver, amendment or modification of, or release from, any of the terms or
provisions of any Loan Document or any other agreement, (d) any default, failure or delay, willful or otherwise, in the performance of any of the Obligations, (e) any amendment or waiver of any of the Obligations, (f) any law or
regulation of any jurisdiction or any other event affecting any term of the Obligations, or (g) to the fullest extent permitted by applicable law, any other act, omission or delay to do any other act which may or might in any manner or to any
extent vary the risk of the Company or otherwise operate as a discharge of a guarantor as a matter of law or equity or which would impair or eliminate any right of the Company to subrogation. 

The Company further agrees that its agreement hereunder constitutes a guarantee of payment when due (whether or not any bankruptcy or
similar proceeding shall have stayed the accrual or collection of any of the Obligations or operated as a discharge thereof) and not merely of collection, and, to the fullest extent permitted by applicable law, waives any right to require that any
resort be had by any Credit Party to any balance of any deposit account or credit on the books of any Credit Party in favor of any Borrower or any other Person. 
 The obligations of the Company hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason (other than the indefeasible payment in full of all the Obligations),
and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever, by reason of the invalidity, illegality or unenforceability 

  
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of any of the Obligations, any impossibility in the performance of any of the Obligations or otherwise (other than for the indefeasible payment in full of all the Obligations), in each case, to
the fullest extent permitted by applicable law. 
 The Company further agrees that its obligations hereunder shall continue to
be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by any Credit Party upon the bankruptcy or reorganization of any Borrower or otherwise.

 In furtherance of the foregoing and not in limitation of any other right which any Credit Party may have at law or in equity
against the Company by virtue hereof, upon the failure of any Designated Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, the Company hereby promises
to and will, upon receipt of written demand by any Credit Party, forthwith pay, or cause to be paid, to such Credit Party in cash an amount equal to the unpaid principal amount of such Obligations then due, together with accrued and unpaid interest
thereon. The Company further agrees that if payment in respect of any Obligation shall be due in a Foreign Currency and/or at a place of payment other than New York and if, by reason of any Change in Law, disruption of currency or foreign exchange
markets, war or civil disturbance or other event, payment of such Obligation in such currency or at such place of payment shall be impossible or, in the reasonable judgment of any Credit Party, not consistent with the protection of its rights or
interests, then, at the election of the Administrative Agent, the Company shall make payment of such Obligation in U.S. Dollars (based upon the applicable Exchange Rate in effect on the date of payment) and/or in New York, and shall indemnify the
Credit Parties against any losses or reasonable out-of-pocket expenses that it shall sustain as a result of such alternative payment. 
 Upon payment by the Company of any sums as provided above, all rights of the Company against any Designated Borrower arising as a result thereof by way of right of subrogation or otherwise shall in all
respects be subordinated and junior in right of payment to the prior indefeasible payment in full of all the Obligations. 
 The
parties hereto agree that, notwithstanding anything to the contrary contained herein, neither the Company nor any of its Subsidiaries shall be require to provide any guarantee, pledge, or asset support arrangement that would result in any adverse
tax consequences due to the application of Section 956 of the Code. 
 ARTICLE X 

Miscellaneous 
 SECTION 10.01 Notices. 
 (a) Except in the case of notices and other
communications expressly permitted to be given by telephone (and subject to paragraph (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed
by certified or registered mail or sent by telecopy, as follows: 

  
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	 	(i)	if to any Borrower, to the Company at Cabot Corporation, Two Seaport Lane, Boston, Massachusetts 02210-2019, Attention of Steven J. Delahunt (Telecopy No.
(617) 342-6208); 

  

	 	(ii)	if to the Administrative Agent, (A) in the case of Borrowings denominated in U.S. Dollars, to JPMorgan Chase Bank, Loan and Agency Services Group, 10 South
Dearborn, 7th Floor, Chicago, Illinois 60603-2003, Attention of Joyce King (Telecopy No. (888) 292-9533), and (B) in the case of Borrowings denominated in Foreign Currencies, to J.P. Morgan Europe Limited, 125 London Wall, Floor 09, London
EC2Y 5AJ, United Kingdom, Attention of Manager: Loan Agency (Telecopy No. 44 207 777 2360); 

  

	 	(iii)	if to the Issuing Bank, to it at JPMorgan Chase Bank, Loan and Agency Services Group, 10 South Dearborn, 7th Floor, Chicago, Illinois 60603-2003, Attention of Debra
Williams (Telecopy No. (312) 385-7098); 

  

	 	(iv)	if to the Swingline Lender, to it at JPMorgan Chase Bank, Loan and Agency Services Group, 10 South Dearborn, 7th Floor, Chicago, Illinois 60603-2003, Attention of Joyce
King (Telecopy No. (888) 292-9533); and 

  

	 	(v)	if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 

(b) Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications pursuant to
procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or
the Company may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided that approval of such procedures may be limited to particular
notices or communications. 
 (c) Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt. 

SECTION 10.02 Waivers; Amendments. 
 (a) No failure or delay by any Credit Party in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any
abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Credit Parties hereunder are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by any Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph
(b) of this Section, and then such 

  
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waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan or issuance of a
Letter of Credit shall not be construed as a waiver of any Default, regardless of whether any Credit Party may have had notice or knowledge of such Default at the time. 
 (b) Except as provided in Section 2.21 with respect to an Incremental Term Loan Amendment, neither this Agreement nor any provision hereof may be waived, amended or modified except pursuant to
an agreement or agreements in writing entered into by the Borrowers and the Required Lenders or by the Borrowers and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall (i) increase
the Commitment of any Lender without the written consent of such Lender (it being understood and agreed that a waiver of any condition precedent set forth in Section 4.02 or of any Default is not considered an increase in Commitments of
any Lender), (ii) reduce the principal amount of any Loan or LC Disbursement or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written consent of each Lender affected thereby, provided,
however, that only the consent of the Required Lenders shall be necessary to amend the provisions with respect to the application of default rate interest described in Section 2.13(c) and the last paragraph of Article VII
or waive any obligation of any Borrower to pay interest or fees at such default rate, (iii) postpone the scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest thereon, or any fees payable hereunder,
or reduce the amount of, waive or excuse any such payment (in each case excluding, for the avoidance of doubt, mandatory prepayments under Section 2.11(c)), or postpone the scheduled date of expiration of any Commitment, without the
written consent of each Lender affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written consent of each Lender,
(v) release the Company from its obligations under the Loan Documents without the written consent of each Lender, or (vi) change any of the provisions of this Section or the definition of “Required Lenders” or any other provision
hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender (it being understood that, solely with
the consent of the parties to an Incremental Term Loan Amendment, Incremental Term Loans may be included in the determination of Required Lenders on substantially the same basis as the Commitments and the Revolving Loans are included on the
Effective Date); provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent, the Issuing Bank or the Swingline Lender hereunder without the prior written consent of
the Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be. 
 SECTION 10.03
Expenses; Indemnity; Damage Waiver. 
 (a) The Company shall pay (i) all reasonable out-of-pocket expenses incurred
by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, in connection with the syndication of the credit facilities provided for herein, the preparation and
administration of the Loan Documents and any amendments or waivers of the provisions thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the
Issuing Bank in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all reasonable 

  
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out-of-pocket expenses incurred by the Credit Parties, including the reasonable fees, charges and disbursements of one counsel for any Administrative Agent and one counsel for all other Credit
Parties, in connection with the enforcement or protection of their rights in connection with any Loan Document, including their rights under this Section, or in connection with the Loans made or Letters of Credit issued hereunder, including all such
out-of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
 (b) The Company shall indemnify each Credit Party and its Related Parties (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and
all losses, claims, damages, liabilities and related expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of
(i) the execution or delivery of the Loan Documents or any agreement or instrument contemplated thereby, the performance by the parties to the Loan Documents of their respective obligations thereunder or the consummation of the Transactions or
any other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment under a Letter of Credit if the documents presented in
connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Company or any Subsidiary, or
any Environmental Liability related in any way to the Company or any Subsidiary, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other
theory and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by
a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of, or intentional material breach of its obligations by, such Indemnitee. This Section 10.03(b) shall
not apply with respect to Taxes other than any Taxes that represent losses or damages arising from any non-Tax claim. 
 (c) To
the extent that the Company fails to pay any amount required to be paid by it to the Administrative Agent, the Issuing Bank or the Swingline Lender under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the
Administrative Agent, the Issuing Bank or the Swingline Lender, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount;
provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent, the Issuing Bank or the Swingline Lender in its
capacity as such. 
 (d) To the extent permitted by applicable law, no Borrower shall assert, and each Borrower hereby waives,
any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, any Loan Document or any agreement
or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof. 

  
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 (e) All amounts due under this Section shall be payable promptly after written demand
therefor. 
 SECTION 10.04 Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that (i) no Borrower may assign or otherwise transfer any of its rights or obligations hereunder without the prior
written consent of each Lender (and any attempted assignment or transfer by any Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance
with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby (including any Affiliate of the Issuing Bank
that issues any Letter of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated hereby, the Related Parties of each of the Credit Parties) any legal or equitable right, remedy
or claim under or by reason of this Agreement. 
 (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any
Lender may assign to one or more Persons (other than an Ineligible Assignee) all or a portion of its rights and obligations under the Loan Documents (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior
written consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) the Company,
provided that, the Company shall be deemed to have consented to an assignment unless it shall have objected thereto by written notice to the Administrative Agent within five (5) Business Days after having received notice thereof;
provided further that no consent of the Company shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee; 

(B) the Administrative Agent, provided that no consent of the Administrative Agent shall be required for an
assignment to a Lender or an Affiliate of a Lender; and 
 (C) the Issuing Bank. 

 

	 	(ii)	Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an Approved Fund, or an assignment of
the entire remaining amount of the assigning Lender’s Commitment or Loans of any Class, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 unless each of the Company and the Administrative Agent 

  
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otherwise consent, provided that no such consent of the Company shall be required if an Event of Default has occurred and is continuing; 

(B) each partial assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s
rights and obligations under the Loan Documents; 
 (C) the parties to each assignment shall execute and deliver
to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; 
 (D) the assignee shall deliver to the Administrative Agent, Withholding Agent and/or Company, as applicable, any documentation required by Section 2.17(f); and 

(E) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire
in which the assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrowers and their Related Parties or their respective securities) will be made
available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

 

	 	(iii)	Subject to acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified in each Assignment and Assumption
the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent
of the interest assigned by such Assignment and Assumption, be released from its obligations under the Loan Documents (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under the Loan
Documents, such Lender shall cease to be a party thereto but shall continue to be entitled to the benefits of Sections 2.15, 2.16, 2.17 and 9.03). Any assignment or transfer by a Lender of rights or obligations under the
Loan Documents that does not comply with this Section 10.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section.

  

	 	(iv)	 The Administrative Agent, acting solely for this purpose as an agent of the Borrowers, shall maintain at one of its offices a copy of each Assignment
and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal amount (and stated interest) of the Loans and LC Disbursements owing to, each Lender pursuant to the
terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent 

  
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manifest error, and the Borrowers and the Credit Parties shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this
Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Company, the Issuing Bank and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 

 

	 	(v)	Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, any documentation required by
Section 2.17(f), the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written
consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the
assigning Lender or the assignee shall have failed to make any payment required to be made by it pursuant to Section 2.05(c), 2.06(d) or (e), 2.07(b), 2.18(d) or 9.03(c), the Administrative Agent shall
have no obligation to accept such Assignment and Assumption and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective
for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 

 (c)
Any Lender may, without the consent of any Borrower, the Administrative Agent, the Issuing Bank or the Swingline Lender, sell participations to one or more banks or other entities (a “Participant”), other than an Ineligible
Assignee, in all or a portion of such Lender’s rights and obligations under the Loan Documents (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under the Loan
Documents shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrowers, the Administrative Agent, the Issuing Bank and the other Lenders
shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under the Loan Documents. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that
such Lender shall retain the sole right to enforce the Loan Documents and to approve any amendment, modification or waiver of any provision of the Loan Documents; provided that such agreement or instrument may provide that such Lender will
not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 10.02(b) that affects such Participant. Each Borrower agrees that each Participant shall be entitled to
the benefits of Sections 2.15, 2.16 and 2.17 (subject to the requirements and limitations therein, including the requirements under Section 2.17(f) (it being understood that the documentation required under
Section 2.17(f) shall be delivered to the participating Lender)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant
(A) agrees to be subject to the provisions of Sections 2.18 and 2.19 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater

  
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payment under Sections 2.15 or 2.17, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to
receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable participation. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as
though it were a Lender, provided such Participant agrees to be subject to Section 2.18(c) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as an agent of the Borrowers, maintain a
register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant
Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any Participant or any information relating to a Participant’s
interest in any Commitments, Loans, Letters of Credit or its other obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such Commitment, Loan, Letter of Credit or other obligation is in
registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each person whose name is recorded in the
Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 
 (d) Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under the Loan Documents to secure obligations of such Lender, including any pledge or assignment to
secure obligations to a Federal Reserve Bank, and this Section shall not apply to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 SECTION
10.05 Survival. All covenants, agreements, representations and warranties made by the Borrowers herein and in the certificates or other instruments delivered in connection with or pursuant to any Loan Document shall be considered to have been
relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by any such other party or on its
behalf and notwithstanding that any Credit Party may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the
principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments have not expired or terminated. The
provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the
Loans, the expiration, termination, cash collateralization or other securing of the Letters of Credit, the expiration or termination of the Commitments or the termination of this Agreement or any provision hereof. 

SECTION 10.06 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and any separate letter agreements with respect to fees

  
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payable to the Administrative Agent or the Issuing Bank constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Administrative Agent and when the Administrative
Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed
counterpart of this Agreement. 
 SECTION 10.07 Severability. Any provision of this Agreement held to be
invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 10.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the
fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or demand, provisional or final and in whatever currency denominated) at any time held and other obligations at any time owing by such Lender or
Affiliate to or for the credit or the account of any Borrower against any of and all the Obligations of such Borrower now or hereafter existing held by such Lender, irrespective of whether or not such Lender shall have made any demand under this
Agreement and although such obligations may be unmatured. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 

SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process. 

(a) This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

(b) Each Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of the
Supreme Court of the State of New York sitting in New York County, Borough of Manhattan and of the United States District Court for the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out
of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined
in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any Credit Party may otherwise have to 

  
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bring any action or proceeding relating to this Agreement against any Borrower or its properties in the courts of any jurisdiction. 

(c) Each Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 10.01. Nothing in this Agreement will affect the right of any party to
this Agreement to serve process in any other manner permitted by applicable law. 
 (e) Without limiting the foregoing, each
Designated Borrower hereby irrevocably designates the Company, at its address set forth in Section 10.01, as the designee, appointee and agent of such Designated Borrower to receive, for and on behalf of such Designated Borrower, service
of process in such respective jurisdictions in any legal action or proceeding with respect to this Agreement or any other Loan Document. 
 SECTION 10.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT
BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 SECTION 10.11 Headings.
Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.

 SECTION 10.12 Confidentiality. 

(a) Each Credit Party agrees to maintain the confidentiality of the Information (as defined below), except that Information may be
disclosed (i) to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the
confidential nature of such Information and instructed to keep such Information confidential), (ii) to the extent requested by any regulatory authority, (iii) to the extent required by applicable laws or regulations or by any subpoena or
similar legal process, (iv) to any other party to this 

  
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Agreement, (v) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder,
(vi) subject to an agreement containing provisions substantially the same as those of this Section, to (A) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this
Agreement or (B) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to any Borrower and its obligations, (vii) with the consent of the Company or (viii) to the extent such
Information (A) becomes publicly available other than as a result of a breach of this Section or (B) becomes available to any Credit Party on a nonconfidential basis from a source other than any Borrower. For the purposes of this Section,
“Information” means all information received from any Borrower relating to such Borrower or its business, other than any such information that is available to any Credit Party on a nonconfidential basis prior to disclosure by
such Borrower; provided that, in the case of information received from such Borrower after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of
Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own
confidential information. 
 (b) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 10.12(a) FURNISHED
TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWERS AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL
NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 

(c) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWERS OR THE ADMINISTRATIVE AGENT PURSUANT
TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWERS AND THEIR RELATED PARTIES OR THEIR RESPECTIVE SECURITIES. ACCORDINGLY, EACH LENDER
REPRESENTS TO THE BORROWERS AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE
PROCEDURES AND APPLICABLE LAW. 
 SECTION 10.13 Interest Rate Limitation. Notwithstanding anything
herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”),
shall exceed the maximum lawful rate (the “Maximum Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding 

  
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such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum
Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and the interest and Charges payable to such Lender in
respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall have been received by such
Lender. 
 SECTION 10.14 USA PATRIOT Act. Each Lender that is subject to the requirements of the USA
Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”) hereby notifies the Borrowers that pursuant to the requirements of the Act, it is required to obtain, verify and record information
that identifies the Borrowers, which information includes the names and addresses of the Borrowers and other information that will allow such Lender to identify the Borrowers in accordance with the Act. 

[Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their respective authorized officers as of the day and year first above written. 
  

			
	CABOT CORPORATION, as the Company and a Borrower
		
	By:	 	/s/ Patrick M. Prevost
		 	 Name: Patrick M. Prevost

Title: President and Chief Executive Officer

  

			
	JPMORGAN CHASE BANK, N.A., as Administrative Agent, Issuing Bank and a Lender
		
	By:	 	/s/ D. Scott Farquhar
		 	 Name: D. Scott Farquhar

Title: SrVP & Credit Executive

  

			
	Citibank, N.A., as a Lender
		
	By:	 	/s/ Shannon Sweeney
		 	 Name: Shannon Sweeney

Title: Vice President

  

			
	Bank of America, N.A., as a Lender
		
	By:	 	/s/ Christopher S. Allen
		 	 Name: Christopher S. Allen

Title: Senior Vice President

  

			
	Bank of America, N.A., as an LC Issuer
		
	By:	 	/s/ Christopher S. Allen
		 	 Name: Christopher S. Allen

Title: Senior Vice President

  
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	Mizuho Corporate Bank, Ltd. as a Lender
		
	By:	 	/s/ Leon Mo
		 	 Name: Leon Mo
 Title:
Authorized Signatory

  

			
	HSBC Bank, USA, N.A., as a Lender
		
	By:	 	/s/ Elise M. Russo
		 	 Name: Elise M. Russo
 Title:
Global Relationship Manager

  

			
	TD BANK, NA., as a Lender
		
	By:	 	/s/ Alan Garson
		 	 Name: Alan Garson
 Title:
Executive Director

  

			
	Goldman Sachs Bank USA, as a Lender
		
	By:	 	/s/ Rebecca Kratz
		 	 Name: Rebecca Kratz
 Title:
Authorized Signatory

  

			
	RBS CITIZENS, N.A., as a Lender
		
	By:	 	/s/ Stephen F. O’Sullivan
		 	 Name: Stephen F. O’Sullivan
 Title: Senior Vice President

  

			
	U.S.Bank, N.A., as a Lender
		
	By:	 	/s/ Michael P. Dickman
		 	 Name: Michael P. Dickman

Title: Vice President

  

			
	BANK OF CHINA, NEW YORK BRANCH, as a Lender
		
	By:	 	/s/ Shiqiang Wu
		 	 Name: Shiqiang Wu
 Title:
General Manager

  
 -85-

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