Document:

EX-4.7

 Exhibit 4.7 
 EXECUTION VERSION 
  
  

GETCO FINANCING ESCROW LLC 
 8.250% SENIOR SECURED NOTES DUE 2018 
  

 
 INDENTURE

 Dated as of June 5, 2013 
  

 
 The Bank of New
York Mellon 
 Trustee and Collateral Agent 

 
  

 
  

 CROSS-REFERENCE TABLE* 

 

			
	Trust Indenture Act Section	  	Indenture Section
	 310(a)(1)
	  	7.10
	       (a)(2)
	  	7.10
	       (a)(3)
	  	N.A.
	       (a)(4)
	  	N.A.
	       (a)(5)
	  	7.10
	       (b)
	  	7.10
	 311(a)
	  	7.11
	       (b)
	  	7.11
	 312(a)
	  	2.05
	       (b)
	  	13.03
	       (c)
	  	13.03
	 313(a)
	  	7.06
	       (b)(1)
	  	10.03
	       (b)(2)
	  	7.06; 7.07
	       (c)
	  	7.06; 10.03; 13.02
	       (d)
	  	7.06
	 314(a)
	  	4.03;13.02; 13.05
	       (b)
	  	10.02
	       (c)(1)
	  	13.04
	       (c)(2)
	  	13.04
	       (c)(3)
	  	N.A.
	       (d)
	  	10.03; 10.04; 10.05
	       (e)
	  	13.05
	       (f)
	  	N.A.
	 315(a)
	  	7.01
	       (b)
	  	7.05; 13.02
	       (c)
	  	7.01
	       (d)
	  	7.01
	       (e)
	  	6.11
	 316(a) (last sentence)
	  	2.09
	       (a)(1)(A)
	  	6.05
	       (a)(1)(B)
	  	6.04
	       (a)(2)
	  	N.A.
	       (b)
	  	6.07
	       (c)
	  	2.12
	 317(a)(1)
	  	6.08
	       (a)(2)
	  	6.09
	       (b)
	  	2.04
	 318(a)
	  	13.01
	       (b)
	  	N.A.
	       (c)
	  	13.01

 N.A. means not applicable. 

	*	This Cross Reference Table is not part of this Indenture. 

 TABLE OF CONTENTS 

							
	 	  	 	  	Page	 
	
	 ARTICLE 1
 DEFINITIONS AND INCORPORATION
 BY REFERENCE
	   

  
   

			
	Section 1.01	  	 Definitions
	  	 	1	  
	Section 1.02	  	 Other Definitions
	  	 	35	  
	Section 1.03	  	 Incorporation by Reference of Trust Indenture Act
	  	 	36	  
	Section 1.04	  	 Rules of Construction
	  	 	36	  
	
	ARTICLE 2	  
	THE NOTES	  
			
	Section 2.01	  	 Form and Dating
	  	 	36	  
	Section 2.02	  	 Execution and Authentication
	  	 	38	  
	Section 2.03	  	 Registrar and Paying Agent
	  	 	38	  
	Section 2.04	  	 Paying Agent to Hold Money in Trust
	  	 	38	  
	Section 2.05	  	 Holder Lists
	  	 	39	  
	Section 2.06	  	 Transfer and Exchange
	  	 	39	  
	Section 2.07	  	 Replacement Notes
	  	 	52	  
	Section 2.08	  	 Outstanding Notes
	  	 	52	  
	Section 2.09	  	 Treasury Notes
	  	 	53	  
	Section 2.10	  	 Temporary Notes
	  	 	53	  
	Section 2.11	  	 Cancellation
	  	 	53	  
	Section 2.12	  	 Defaulted Interest
	  	 	53	  
	Section 2.13	  	 CUSIP Numbers
	  	 	54	  
	
	ARTICLE 3	  
	REDEMPTION AND PREPAYMENT	  
			
	Section 3.01	  	 Notices to Trustee
	  	 	54	  
	Section 3.02	  	 Selection of Notes to Be Redeemed or Purchased
	  	 	54	  
	Section 3.03	  	 Notice of Redemption
	  	 	55	  
	Section 3.04	  	 Effect of Notice of Redemption
	  	 	55	  
	Section 3.05	  	 Deposit of Redemption or Purchase Price
	  	 	55	  
	Section 3.06	  	 Notes Redeemed or Purchased in Part
	  	 	56	  
	Section 3.07	  	 Optional Redemption
	  	 	56	  
	Section 3.08	  	 Mandatory Redemption
	  	 	57	  
	Section 3.09	  	 Offer to Purchase by Application of Excess Proceeds
	  	 	57	  
	
	ARTICLE 4	  
	COVENANTS	  
			
	Section 4.01	  	 Payment of Notes
	  	 	59	  
	Section 4.02	  	 Maintenance of Office or Agency
	  	 	59	  
	Section 4.03	  	 Reports
	  	 	60	  
	Section 4.04	  	 Compliance Certificate
	  	 	61	  
	Section 4.05	  	 Taxes
	  	 	61	  
	Section 4.06	  	 Stay, Extension and Usury Laws
	  	 	62	  
	Section 4.07	  	 Restricted Payments
	  	 	62	  
	Section 4.08	  	 Dividend and Other Payment Restrictions Affecting Subsidiaries
	  	 	65	  
	Section 4.09	  	 Incurrence of Indebtedness and Issuance of Preferred Stock
	  	 	67	  

							
	 	  	 	  	Page	 
			
	Section 4.10	  	 Asset Sales
	  	 	71	  
	Section 4.11	  	 Transactions with Affiliates
	  	 	73	  
	Section 4.12	  	 Liens
	  	 	74	  
	Section 4.13	  	 Business Activities
	  	 	74	  
	Section 4.14	  	 Existence; Insurance
	  	 	75	  
	Section 4.15	  	 Offer to Repurchase Upon Change of Control
	  	 	75	  
	Section 4.16	  	 Limitation on Certain Equity Interests
	  	 	77	  
	Section 4.17	  	 Mortgages
	  	 	77	  
	Section 4.18	  	 Payments for Consent
	  	 	78	  
	Section 4.19	  	 Additional Note Guarantees
	  	 	78	  
	Section 4.20	  	 Designation of Restricted and Unrestricted Subsidiaries
	  	 	78	  
	Section 4.21	  	 Activities Prior to the Escrow Release
	  	 	79	  
	Section 4.22	  	 Covenant Compliance Prior to the Escrow Release
	  	 	79	  
	Section 4.23	  	 Grant of Security Interests
	  	 	80	  
	Section 4.24	  	 Further Assurances
	  	 	80	  
	
	ARTICLE 5	  
	SUCCESSORS	  
			
	Section 5.01	  	 Merger, Consolidation, or Sale of Assets
	  	 	81	  
	Section 5.02	  	 Successor Corporation Substituted
	  	 	82	  
	
	ARTICLE 6	  
	DEFAULTS AND REMEDIES	  
			
	Section 6.01	  	 Events of Default
	  	 	82	  
	Section 6.02	  	 Acceleration
	  	 	84	  
	Section 6.03	  	 Other Remedies
	  	 	85	  
	Section 6.04	  	 Waiver of Past Defaults
	  	 	85	  
	Section 6.05	  	 Control by Majority
	  	 	85	  
	Section 6.06	  	 Limitation on Suits
	  	 	85	  
	Section 6.07	  	 Rights of Holders of Notes to Receive Payment
	  	 	86	  
	Section 6.08	  	 Collection Suit by Trustee
	  	 	86	  
	Section 6.09	  	 Trustee May File Proofs of Claim
	  	 	86	  
	Section 6.10	  	 Priorities
	  	 	87	  
	Section 6.11	  	 Undertaking for Costs
	  	 	87	  
	
	ARTICLE 7	  
	TRUSTEE	  
			
	Section 7.01	  	 Duties of Trustee
	  	 	87	  
	Section 7.02	  	 Rights of Trustee
	  	 	88	  
	Section 7.03	  	 Individual Rights of Trustee
	  	 	89	  
	Section 7.04	  	 Trustee’s Disclaimer
	  	 	89	  
	Section 7.05	  	 Notice of Defaults
	  	 	90	  
	Section 7.06	  	 Reports by Trustee to Holders of the Notes
	  	 	90	  
	Section 7.07	  	 Compensation and Indemnity
	  	 	90	  
	Section 7.08	  	 Replacement of Trustee
	  	 	91	  
	Section 7.09	  	 Successor Trustee by Merger, etc.
	  	 	92	  
	Section 7.10	  	 Eligibility; Disqualification
	  	 	92	  
	Section 7.11	  	 Preferential Collection of Claims Against Company
	  	 	92	  

  
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	 	  	 	  	Page	 
	
	ARTICLE 8	  
	LEGAL DEFEASANCE AND COVENANT DEFEASANCE	  
			
	Section 8.01	  	 Option to Effect Legal Defeasance or Covenant Defeasance
	  	 	92	  
	Section 8.02	  	 Legal Defeasance and Discharge
	  	 	92	  
	Section 8.03	  	 Covenant Defeasance
	  	 	93	  
	Section 8.04	  	 Conditions to Legal or Covenant Defeasance
	  	 	93	  
	Section 8.05	  	 Deposited Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions
	  	 	94	  
	Section 8.06	  	 Repayment to Company
	  	 	95	  
	Section 8.07	  	 Reinstatement
	  	 	95	  
	
	ARTICLE 9	  
	AMENDMENT, SUPPLEMENT AND WAIVER	  
			
	Section 9.01	  	 Without Consent of Holders of Notes
	  	 	96	  
	Section 9.02	  	 With Consent of Holders of Notes
	  	 	97	  
	Section 9.03	  	 Compliance with Trust Indenture Act
	  	 	98	  
	Section 9.04	  	 Revocation and Effect of Consents
	  	 	98	  
	Section 9.05	  	 Notation on or Exchange of Notes
	  	 	98	  
	Section 9.06	  	 Trustee to Sign Amendments, etc.
	  	 	99	  
	
	ARTICLE 10	  
	COLLATERAL AND SECURITY	  
			
	Section 10.01.	  	 Collateral Documents
	  	 	99	  
	Section 10.02.	  	 Recording and Opinions
	  	 	99	  
	Section 10.03.	  	 Release of Collateral
	  	 	100	  
	Section 10.04.	  	 Certificates of the Company
	  	 	100	  
	Section 10.05.	  	 Certificates of the Trustee
	  	 	101	  
	Section 10.06.	  	 Authorization of Actions to Be Taken by the Trustee Under the Collateral Documents
	  	 	101	  
	Section 10.07.	  	 Authorization of Receipt of Funds by the Trustee Under the Collateral Documents
	  	 	101	  
	Section 10.08.	  	 Termination of Security Interest
	  	 	101	  
	
	ARTICLE 11	  
	NOTE GUARANTEES	  
			
	Section 11.01	  	 Guarantee
	  	 	101	  
	Section 11.02	  	 Limitation on Guarantor Liability
	  	 	102	  
	Section 11.03	  	 Execution and Delivery of Note Guarantee
	  	 	103	  
	Section 11.04	  	 Guarantors May Consolidate, etc., on Certain Terms
	  	 	103	  
	Section 11.05	  	 Releases
	  	 	104	  
	
	ARTICLE 12	  
	SATISFACTION AND DISCHARGE	  
	Section 12.01	  	 Satisfaction and Discharge
	  	 	105	  
	Section 12.02	  	 Application of Trust Money
	  	 	106	  
	
	ARTICLE 13	  
	MISCELLANEOUS	  
			
	Section 13.01	  	 Trust Indenture Act Controls
	  	 	106	  
	Section 13.02	  	 Notices
	  	 	106	  

  
 iii

							
	 	  	 	  	Page	 
			
	Section 13.03	  	 Communication by Holders of Notes with Other Holders of Notes
	  	 	107	  
	Section 13.04	  	 Certificate and Opinion as to Conditions Precedent
	  	 	107	  
	Section 13.05	  	 Statements Required in Certificate or Opinion
	  	 	108	  
	Section 13.06	  	 Rules by Trustee and Agents
	  	 	108	  
	Section 13.07	  	 No Personal Liability of Directors, Officers, Employees and Stockholders
	  	 	108	  
	Section 13.08	  	 Governing Law
	  	 	108	  
	Section 13.09	  	 No Adverse Interpretation of Other Agreements
	  	 	109	  
	Section 13.10	  	 Successors
	  	 	109	  
	Section 13.11	  	 Severability
	  	 	109	  
	Section 13.12	  	 Counterpart Originals
	  	 	109	  
	Section 13.13	  	 Table of Contents, Headings, etc.
	  	 	109	  
	Section 13.14	  	 Submission of Jurisdiction
	  	 	109	  
	Section 13.15	  	 Waiver of Jury Trial
	  	 	109	  

 EXHIBITS 
  

			
	Exhibit A1	  	 FORM OF NOTE

	Exhibit A2	  	 FORM OF REGULATION S TEMPORARY GLOBAL NOTE

	Exhibit B	  	 FORM OF CERTIFICATE OF TRANSFER

	Exhibit C	  	 FORM OF CERTIFICATE OF EXCHANGE

	Exhibit D	  	 FORM OF CERTIFICATE OF ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR

	Exhibit E	  	 FORM OF NOTATION OF GUARANTEE

	Exhibit F	  	 FORM OF SUPPLEMENTAL INDENTURE

	Exhibit G	  	 FORM OF SUPPLEMENTAL INDENTURE FOR KCG ASSUMPTION

	Exhibit H	  	 FORM OF SECURITY AGREEMENT

	Exhibit I	  	 FORM OF INTERCREDITOR AGREEMENT

  
 iv 

 INDENTURE dated as of June 5, 2013 between GETCO Financing Escrow LLC, a Delaware
limited liability company and The Bank of New York Mellon, as trustee and collateral agent. 
 The Company, the Trustee and the
Collateral Agent agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders (as defined) of the 8.250% Senior Secured Notes due 2018 (the “Notes”): 

W I T N E S S E T H: 
 WHEREAS, for its lawful corporate purposes, the Company has duly authorized the issuance of the Initial Notes, and in order to provide the terms and conditions upon which the Initial Notes are to be
authenticated, issued and delivered, the Company has duly authorized the execution and delivery of this Indenture; and 

WHEREAS, all acts and things necessary to make the Initial Notes, when executed by the Company and authenticated and delivered by the
Trustee or a duly authorized authenticating agent, pursuant to this Indenture, the valid, binding and legal obligations of the Company, and this Indenture a valid agreement according to its terms, have been done and performed, and the execution of
this Indenture and the issuance hereunder of the Initial Notes have in all respects been duly authorized. 
 NOW, THEREFORE,
THIS INDENTURE WITNESSETH: 
 ARTICLE 1 
 DEFINITIONS AND INCORPORATION 
 BY REFERENCE 

Section 1.01 Definitions. 
 “144A Global Note” means a Global Note substantially in the form of Exhibit A1 hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of,
and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold in reliance on Rule 144A. 

“2015 Convertible Notes” means the Target’s 3.50% Cash Convertible Senior Subordinated Notes due 2015 issued
pursuant to the 2015 Convertible Notes Indenture. 
 “2015 Convertible Notes Indenture” means the Indenture,
dated as of March 19, 2010, between the Target, as Company, and Deutsche Bank Trust Company Americas, as trustee, as amended, modified or supplemented form time to time in accordance with the terms hereof and thereof. 

“Accession Agreement” means an accession agreement, if any, to the Collateral Documents, in substantially the form
provided therein, entered into by the Company, the Guarantors, the Trustee, agent or other representative for the holders of any Pari Passu Indebtedness and the Collateral Agent from time to time. 

“Acquired Debt” means, with respect to any specified Person: 

(1) Indebtedness of any other Person existing at the time such other Person is merged with or into or became a Restricted
Subsidiary of such specified Person, whether or not such Indebtedness is incurred in connection with, or in contemplation of, such other Person merging with or into, or becoming a Restricted Subsidiary of, such specified Person; and 

(2) Indebtedness secured by a Lien encumbering any asset acquired by such specified Person. 

  
 1 

 “Additional Interest” means all additional interest then owing pursuant to
the Registration Rights Agreement. 
 “Additional Notes” means additional Notes (other than the Initial Notes)
issued under this Indenture, as part of the same series as the Initial Notes. 
 “Affiliate” means, when used
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. For purposes of this definition, the terms
“controlling,” “controlled by” and “under common control with” have correlative meanings. 

“Agent” means any Registrar, co-registrar, Paying Agent or additional paying agent. 

“Agreement and Plan of Merger” means the Amended and Restated Agreement and Plan of Merger, dated as of
December 19, 2012, as amended and restated as of April 15, 2013, by and among GETCO, GA-GTCO, LLC and the Target, as amended, modified or supplemented from time to time in accordance with the terms thereof. 

“Applicable Premium” means, with respect to any Note on any redemption date, the greater of: 

(1) 1.0% of the principal amount of the Note; or 

(2) the excess, if any, of: (a) the present value at such redemption date of (i) the redemption price of the
Note at June 15, 2015, (such redemption price being set forth in the table appearing in Section 3.07 hereof) plus (ii) all required interest payments due on the Note through June 15, 2015 (excluding accrued but unpaid interest to
the applicable redemption date), computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (b) the principal amount of the Note. 
 The trustee shall have no duty to calculate or verify the calculation of the Applicable Premium. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear and
Clearstream that apply to such transfer or exchange. 
 “Asset Sale” means: 

(1) the sale, lease, conveyance or other disposition of any assets or rights by the Company or any Restricted Subsidiary;
provided that the sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company and its Restricted Subsidiaries taken as a whole will be governed by the provisions of Section 4.15 hereof and/or the
provisions Section 5.01 hereof and not by the provisions of the Asset Sale covenant; and 
 (2) the issuance
of Equity Interests in any of the Company’s Restricted Subsidiaries or the sale of Equity Interests in any of its Subsidiaries. 

  
 2 

 Notwithstanding the preceding, none of the following items will be deemed to be an Asset Sale: 

(1) any single transaction or series of related transactions that involves assets or the issuance or sale of Equity
Interests of any of the Company’s Restricted Subsidiaries having a Fair Market Value of less than $5,000,000; 
 (2) the sale or other disposition of obsolete or worn out property in the ordinary course of business and dispositions of property no longer useful to the conduct of the business of the Company or its
Restricted Subsidiaries in the ordinary course of business; 
 (3) the sale or other disposition of inventory and
other assets (including securities (other than Capital Stock of a Restricted Subsidiary) and derivatives) in the ordinary course of business; 
 (4) dispositions (i) by a Restricted Subsidiary of the Company that is not a Guarantor of all or substantially all of its assets to any other Restricted Subsidiary of the Company that is not a
Guarantor; provided that (A) in the case of such disposition by a Wholly Owned Restricted Subsidiary of the Company the transferee entity shall be a Wholly Owned Restricted Subsidiary of the Company and (B) in the case of such
disposition by a Broker-Dealer Subsidiary, the transferee entity shall be a Broker-Dealer Subsidiary and (ii) any Restricted Subsidiary of the Company may dispose of all or substantially all of its assets to the Company or any Guarantor (upon
voluntary liquidation or otherwise); 
 (5) the sale or issuance of Equity Interests (i) by a Restricted
Subsidiary of the Company to the Company or to a Guarantor, (ii) by a Restricted Subsidiary of the Company that is not a Guarantor to any other Restricted Subsidiary of the Company that is not a Guarantor and (iii) that constitute nominal
amounts of a Foreign Subsidiary of the Company to local nationals to the extent required by applicable Legal Requirements; 
 (6) the sale or other disposition (i) by a Guarantor of its property to the Company or to another Guarantor, (ii) the sale or other disposition by a Restricted Subsidiary of the Company that is
not a Guarantor (other than a Broker-Dealer Subsidiary) of its property to the Company or another Restricted Subsidiary of the Company and (iii) the sale or other disposition by a Broker-Dealer Subsidiary of its property to another
Broker-Dealer Subsidiary that shall not have any Indebtedness which is not permitted by Section 4.09 hereof (other than Section 4.09(b)(6)); 
 (7) a Restricted Payment or a Restricted Investment that does not violate Section 4.07 hereof or a Permitted Investment; 

(8) the lease, assignment or sublease of any real or personal property in the ordinary course of business; 

(9) sales or grants of licenses or sublicenses in the ordinary course of business to use the Company’s or any of its
Restricted Subsidiaries’ trademarks, patents, trade secrets, know-how or other intellectual property and technology to the extent that such sale, license or sublicense does not materially impair the conduct of the business of the Company or any
of its Restricted Subsidiaries; 
 (10) dispositions of property to the extent that (i) such property is
exchanged for credit against the purchase price of similar replacement property that is promptly purchased, (ii) the proceeds of such disposition are promptly applied to the purchase price of such replacement property (which replacement
property is actually promptly purchased), or (iii) such property is exchanged for similar replacement property; 

  
 3 

 (11) the sale or other disposition of cash or Cash Equivalents; 

(12) the cancellation or forgiveness in the ordinary course of business of any loan or advance to any employee of the
Company or any of its Restricted Subsidiaries; 
 (13) the Transactions, as contemplated by, and in accordance
with, the terms and conditions of, the Transaction Documents; 
 (14) any disposition of property that
constitutes a Casualty Event; 
 (15) any Permitted Liens; 

(16) any extension of trade credit in the ordinary course of business; 

(17) mergers, amalgamations and consolidations permitted by Section 5.01 hereof; 

(18) the issuance of Equity Interests of an Unrestricted Subsidiary; 

(19) the unwinding of Hedging Obligations; 

(20) any disposition of accounts receivable arising in the ordinary course of business in connection with the collection
or compromise thereof and not as part of any financing transaction; and 
 (21) the issuance of the Knight
Capital Americas Preferred Units, with an aggregate Series A Preferred Value for all such Knight Capital Americas Preferred Units issued pursuant to this clause (21) not to exceed $500,000; provided that, notwithstanding anything to the
contrary in this definition of “Asset Sales,” the Company shall at all times directly or indirectly, own all the Capital Stock issued by Knight Capital Americas LLC (and any of its successors) other than the Knight Capital Americas
Preferred Units. 
 “Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,”
as now and hereafter in effect, or any successor statute. 
 “Bankruptcy Law” means the Bankruptcy Code and all
other insolvency, bankruptcy, receivership, liquidation, conservatorship, assignment for the benefit of creditors, moratorium, rearrangement, reorganization, or similar Legal Requirements of the United States or other applicable jurisdictions from
time to time in effect and affecting the rights of creditors generally. 
 “Beneficial Owner” has the meaning
assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such
“person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only
after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have a corresponding meaning. 
 “Board of Directors” means, with respect to any Person: 
 (1) in the case of any corporation, the board of directors of such Person; 

  
 4 

 (2) in the case of any limited liability company, the board of managers or
board of directors, as applicable, of such Person, or if such limited liability company does not have a board of managers or board of directors, the functional equivalent of the foregoing; 

(3) in the case of any partnership, the board of directors or board of managers, as applicable, of the general partner of
such Person; and 
 (4) in any other case, the functional equivalent of the foregoing; 

and, in the case of clauses (1) through (4) above, (other than for purposes of the definition of Change of Control), any duly authorized
committee or functional equivalent of any of the foregoing. 
 “Broker-Dealer” has the meaning given to the
term “Participating Broker-Dealer” in the Registration Rights Agreement. 
 “Broker-Dealer
Subsidiary” means each Restricted Subsidiary of the Company that is on the date of this Indenture or becomes in the future a registered broker-dealer under the Exchange Act (or any comparable foreign equivalent thereof). 

“Business Day” means any day other than a Legal Holiday. 

“Capital Lease” means, with respect to any Person, any lease of, or other arrangement conveying the right to use, any
property by such Person as lessee that has been or should be accounted for as a capital lease on a balance sheet of such Person prepared in accordance with GAAP. 
 “Capital Lease Obligation” means, as to any Person, the obligations of such Person to pay rent or other amounts under any Capital Lease and, for the purposes of this Indenture, the amount
of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP; provided that any obligations that would not be accounted for as Capital Lease Obligations under GAAP as of the closing
of this offering shall not be included in Capital Lease Obligations after such date due to any changes in GAAP or interpretations thereunder or otherwise. 
 “Capital Stock” means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests
in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 

“Cash Equivalents” means: 
 (1) United States dollars; 
 (2) marketable securities issued, or
directly, unconditionally and fully guaranteed or insured, by the United States or any agency or instrumentality thereof (provided that the full faith and credit of the United States is pledged in support thereof) having maturities of not
more than two years from the date of acquisition by such Person; 
 (3) time deposits and certificates of deposit
of any Senior Credit Facility Lender or any commercial bank having, or which is the principal banking subsidiary of a bank holding company organized under the laws of the United States, any state thereof or the District of Columbia having, capital
and surplus aggregating in excess of $500,000,000 and a rating of “A” (or such other similar equivalent rating) or higher by at least one nationally recognized statistical rating organization (as defined in Rule 436 under the Securities
Act) with maturities of not more than one year from the date of acquisition by such Person; 

  
 5 

 (4) repurchase obligations with a term of not more than 30 days for
underlying securities of the types described in clauses (2) and (3) above entered into with any Person meeting the qualifications specified in clause (3) above, which repurchase obligations are secured by a valid perfected security
interest in the underlying securities; 
 (5) securities with maturities of two years or less from the date of
acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States or by any political subdivision or taxing authority of any such state, commonwealth or territory, in each case which are rated at least A-1 or the
equivalent thereof by S&P at least P-1 or the equivalent thereof by Moody’s; 
 (6) commercial paper
having one of the two highest ratings obtainable from Moody’s or S&P, in each case, maturing not more than one year after the date of acquisition by such Person; 

(7) investments in money market funds at least 95% of whose assets are comprised of securities of the types described in
clauses (1) through (6) above; and 
 (8) in the case of any Foreign Subsidiary of the Company only,
instruments equivalent to those referred to in clauses (1) through (7) above denominated in Euros or any other foreign currency comparable in credit quality and tenor to those referred to above and commonly used by corporations for cash
management purposes in any jurisdiction outside the United States to the extent reasonably required in connection with any business conducted by any Foreign Subsidiary of the Company organized in such jurisdiction. 

“Casualty Event” means any loss of title (other than through a consensual disposition of such property in accordance
with this Indenture) or any loss of or damage to or any destruction of, or any condemnation or other taking (including by any Governmental Authority) of, any property of the Company or any of its Restricted Subsidiaries. “Casualty Event”
shall include any taking of all or any part of any Real Property of the Company or any of its Restricted Subsidiaries, in or by condemnation or other eminent domain proceedings pursuant to any Legal Requirement, or by reason of the temporary
requisition of the use or occupancy of all or any material part of any Real Property of the Company or any of its Restricted Subsidiaries by any Governmental Authority, or by reason of any settlement in lieu thereof. 

“Change of Control” means the occurrence of any of the following (after giving effect to the Transactions on the Escrow
Release Date): 
 (1) the direct or indirect sale, lease, transfer, conveyance or other disposition (other than
by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Company and its Subsidiaries taken as a whole to any “person” or “group” (as each such
term is used in Section 13(d) of the Exchange Act); 
 (2) the adoption of a plan relating to the
liquidation or dissolution of the Company; 
 (3) the consummation of any transaction (including, without
limitation, any merger or consolidation), the result of which is that any “person” or “group” (each as defined above) is or becomes the Beneficial Owner, directly or indirectly, of more than 50% of the Voting Stock of the
Company, measured by voting power rather than number of shares; 

  
 6 

 (4) the first day on which a majority of the members of the Board of
Directors of the Company are not Continuing Directors; or 
 (5) the Company consolidates with, or merges with or
into, any Person, or any Person consolidates with, or merges with or into, the Company, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of the Company or such other Person is converted into or exchanged for
cash, securities or other property, other than any such transaction where the Voting Stock of the Company outstanding immediately prior to such transaction is converted into or exchanged for Voting Stock (other than Disqualified Stock) of the
surviving or transferee Person constituting a majority of the outstanding shares of such Voting Stock of such surviving or transferee Person (immediately after giving effect to such issuance). 

“Clearstream” means Clearstream Banking, S.A. 
 “Collateral” shall have the meaning set forth in the Security Agreement. 
 “Collateral Agent” shall have the meaning set forth in the Security Agreement. 
 “Collateral Documents” means the security agreements, pledge agreements, Mortgages, collateral assignments, control agreements and related agreements (including, without limitation,
financing statements under the UCC of the relevant states), the Escrow Agreement and the Intercreditor Agreement, each as amended, supplemented, restated, renewed, replaced or otherwise modified from time to time, to secure any Obligations under the
Indenture Documents or under which rights or remedies with respect to any such Lien are governed. 
 “Company”
means GETCO Financing Escrow LLC, and any and all successors thereto. 
 “Consolidated Cash Flow” means, with
respect to any specified Person for any period, the Consolidated Net Income of such Person for such period, plus  
 (1) without duplication and to the extent deducted in determining such Consolidated Net Income, the sum of: 
  

	 	(a)	Fixed Charges, amortization or write-off of debt discount and debt issuance costs and commissions, discounts and other fees and charges associated with Indebtedness of
such Person and its Restricted Subsidiaries for such period, but not counting any items in this subclause (a) attributable to Excluded Debt; 

  

	 	(b)	consolidated income tax and franchise tax expense for such period and provisions for taxes based on income or profits of such Person and its Restricted Subsidiaries for
such period; 

  

	 	(c)	all amounts attributable to depreciation and amortization, but not counting any amounts in this subclause (c) attributable to Excluded Debt;

  

	 	(d)	 all extraordinary, non-recurring or one-time charges, losses or expenses for such period (including (i) whether or not otherwise includable as a
separate item in the consolidated statement of operations for such period, any net loss realized by such Person or any of its 

  
 7 

	 	
Restricted Subsidiaries in connection with the sale of assets outside of the ordinary course of business, (ii) if and to the extent included as a separate item in the consolidated statement
of operations for such period, restructuring charges (including severance, relocation costs, one-time compensation charges, integration and facilities opening costs, recruiting and signing costs, retention or completion bonuses, transition costs and
costs from curtailments or modifications to pension and post-retirement employee benefit plans) and (iii) professional fees and expenses incurred in connection with, or as a result of, any extraordinary losses or charges); provided that,
in the case of any such non-recurring and one-time charges, losses or expenses, the aggregate amount of all such charges, losses or expenses added back pursuant to this clause (d) in any period shall not to exceed 15% of Consolidated Cash Flow
for such period (calculated without giving effect to (A) any such add-backs pursuant to this clause (d) or (B) any add-backs pursuant to succeeding clauses (e) and (f)); 

 

	 	(e)	to the extent contemplated by this offering memorandum and incurred in connection with the Transactions, the amount of “run rate” net cost savings, synergies
and operating expense reductions projected by the Company in good faith to result from actions taken or with respect to which substantial steps have been taken no later than 18 months after the Escrow Release Date (calculated on a pro forma basis as
though such cost savings, operating expense reductions and synergies had been realized on the first day of the period for which Consolidated Cash Flow is being determined and if such cost savings, operating expense reductions and synergies were
realized during the entirety of such period), net of the amount of actual benefits realized during such period from such actions (and reflected in Consolidated Net Income for such period); provided that such cost savings, operating expense
reductions and synergies are reasonably identifiable and factually supportable and described in reasonable detail by the chief financial officer of the Company in an officer’s certificate delivered to the trustee (it is understood and agreed
that “run rate” means the full recurring benefit for a period that is associated with any action taken, committed to be taken or with respect to which substantial steps have been taken or are expected to be taken);

  

	 	(f)	all non-recurring or one-time charges, losses or expenses for such period to the extent incurred to achieve (and directly related to achieving) the net cost savings,
synergies and operating expense reductions referred to in preceding clause (e) so long as all such non-recurring and one-time charges, losses and expenses are incurred on or prior to the date that is 18 months after the Escrow Release Date;
provided that such non-recurring or one-time charges, losses and expenses are factually supportable and described in reasonable detail by the chief financial officer of the Company in an officer’s certificate delivered to the trustee;

  

	 	(g)	all other non-cash charges for such period (including impairment charges of fixed and/or intangible assets) other than non-cash charges resulting from
(i) marked-to-market adjustments of securities positions made in the ordinary course of business and (ii) resulting from the early extinguishment of Excluded Debt; 

 

	 	(h)	costs and expenses incurred during such period as a result of any acquisition (other than in the ordinary course of business), investment (other than (i) an
intercompany investment and (ii) any investments made in the ordinary course of business) or asset sales permitted hereunder (in each case, whether or not consummated); 

  
 8 

	 	(i)	costs and expenses incurred in connection with any issuance (or proposed issuance) of Indebtedness (including the Notes) or Equity Interests or any refinancing
transaction (or proposed refinancing transaction) or any amendment or other modification of any debt instrument, in each case, whether or not consummated, but not counting any items in this clause (i) attributable to Excluded Debt;

  

	 	(j)	to the extent actually reimbursed in cash, expenses incurred to the extent covered by indemnification provisions in any agreement in connection with (a) the
acquisition of all or substantially all of the property of any Person, or all or substantially all of any business or division of any Person, (b) acquisition of 100% of the Equity Interests of any Person or (c) the merger or consolidation
or any other combination with any Person; 

  

	 	(k)	to the extent covered by insurance under which the insurer has been properly notified and has not denied or contested coverage, expenses with respect to liability or
casualty events; 

  

	 	(l)	costs and expenses incurred in connection with the Transactions; 

  

	 	(m)	losses, charges and expenses directly attributable to discontinued operations but only in respect of the period in which such operations were classified as discontinued
in accordance with GAAP; and 

  

	 	(n)	the amount of any minority interest expense deducted from subsidiary income attributable to minority equity interests of third parties in any non-Wholly Owned
Restricted Subsidiary; 

 minus 

(2) without duplication and to the extent included in determining such Consolidated Net Income, the sum of: 

 

	 	(a)	all extraordinary, non-recurring or one-time gains for such period (including, whether or not otherwise includable as a separate item in the statement of Consolidated
Net Income for such period, extraordinary gains on the sales of assets outside of the ordinary course of business); 

  

	 	(b)	income tax benefits (to the extent not netted from income tax expense); 

  

	 	(c)	all non-cash gains associated with stock based director, management and employee compensation for such period; 

 

	 	(d)	all other non-cash income and non-cash gains for such period, other than non-cash gains resulting from marked-to-market adjustments of securities positions made in the
ordinary course of business, all determined on a consolidated basis in accordance with GAAP; 

  

	 	(e)	all income and gains for such period directly attributed to discontinued operations but only in respect of the period in which such operations were classified as
discontinued in accordance with GAAP; and 

  

	 	(f)	all cash payments or cash charges made (or incurred) for such period on account of any non-cash charges added back to Consolidated Cash Flow in a previous period
pursuant to clause (1)(g) above. 

  
 9 

 For the avoidance of doubt, Consolidated Cash Flow shall be calculated on a pro forma basis
for all purposes of this Indenture. 
 “Consolidated First Lien Indebtedness” means, at any date of
determination, the Consolidated Indebtedness of the Company and its Restricted Subsidiaries that are First Lien Obligations. 

“Consolidated First Lien Leverage Ratio” means, at any date of determination, the ratio of (x) Consolidated First
Lien Indebtedness to (y) Consolidated Cash Flow for the most recently ended four full fiscal quarters of the Company. 

“Consolidated Indebtedness” means, as at any date, an amount equal to the sum of, without duplication, (i) the
aggregate principal amount of all Indebtedness of the Company and its Restricted Subsidiaries on such date (to the extent such Indebtedness would be included on a balance sheet prepared in accordance with GAAP), (ii) the aggregate principal
amount of all debt obligations of the Company and its Restricted Subsidiaries evidenced by bonds, debentures, notes, loan agreements or similar instruments, (iii) the aggregate amount of unreimbursed drawings in respect of letters of credit (or
similar facilities) issued for the account of the Company or any of its Restricted Subsidiaries and (iv) the aggregate amount of all Guarantees of the Company and its Restricted Subsidiaries in respect of Indebtedness of third persons of the
type described in preceding clauses (i) through (iii), in each case calculated on a consolidated basis for the Company and its Restricted Subsidiaries; provided, however, Consolidated Indebtedness shall exclude all Excluded Debt
and Guarantees in respect of Excluded Debt. 
 “Consolidated Interest Expense” means, with respect to any
specified Person for any period, the total consolidated interest expense of the Company and its Restricted Subsidiaries for such period determined on a consolidated basis in accordance with GAAP plus, without duplication: 

(1) imputed interest on Capital Lease Obligations of the Company and its Restricted Subsidiaries for such period;

 (2) commissions, discounts and other fees and charges owed by the Company or any of its Restricted
Subsidiaries with respect to letters of credit securing financial obligations, bankers’ acceptance financing, receivables financings and similar credit transactions for such period; 

(3) amortization of debt issuance costs, debt discount or premium and other financing fees and expenses incurred by the
Company or any of its Restricted Subsidiaries for such period; 
 (4) cash contributions to any employee stock
ownership plan or similar trust made by the Company or any of its Restricted Subsidiaries to the extent such contributions are used by such plan or trust to pay interest or fees to any Person (other than the Company or any of its Wholly Owned
Restricted Subsidiaries) in connection with Indebtedness incurred by such plan or trust for such period; 
 (5)
all interest paid or payable with respect to discontinued operations of the Company or any of its Restricted Subsidiaries for such period; and 
 (6) all interest on any Indebtedness of the Company or any of its Restricted Subsidiaries of the type described in clause (h) or (i) of the definition of “Indebtedness” for such
period; 

  
 10 

 provided that (a) to the extent directly related to the Transactions, debt issuance costs, debt
discount or premium and other financing fees and expenses shall be excluded from the calculation of Consolidated Interest Expense, (b) all interest on (or associated with) any Excluded Debt shall be excluded from the calculation of Consolidated
Interest Expense and (c) Consolidated Interest Expense shall be calculated after giving effect to Hedging Agreements (including associated costs) intended to protect against fluctuations in interest rates, but excluding unrealized gains and
losses with respect to any such Hedging Agreements. 
 “Consolidated Net Income” means, with respect to any
specified Person for any period, the consolidated net income (or deficit) of the Company and its Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP; provided that: 

(1) the income (or deficit) of any Person (other than a Restricted Subsidiary of the Company) in which the Company or any
of its Restricted Subsidiaries has an ownership interest (including any Unrestricted Subsidiary) shall only be included to the extent that any such income is actually received in cash by the Company or such Restricted Subsidiary in the form of
dividends or similar distributions; 
 (2) the net income of any Restricted Subsidiary will be excluded to the
extent that the declaration of payment of dividends or similar distributions by that Restricted Subsidiary of such net income (a) is at the date of determination not permitted without any prior governmental approval (that has not been obtained)
or, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders and (b) was not,
or could not have been, subsequently distributed by the Restricted Subsidiary; provided that this clause (2) shall only apply in determining Consolidated Net Income for the purposes of Section 4.07 hereof; 

(3) the cumulative effect of a change in accounting principles will be excluded; and 

(4) any non-cash compensation charge arising from any grant of stock, stock options or other equity-based awards shall be
excluded. 
 “Consolidated Secured Indebtedness” means, at any date of determination, the Consolidated
Indebtedness of the Company and its Restricted Subsidiaries that is secured by Liens on such date. 
 “Consolidated
Secured Indebtedness Ratio” means, at any date of determination, the ratio of (x) Consolidated Secured Indebtedness to (y) Consolidated Cash Flow for the most recently ended four full fiscal quarters of the Company. 

“Consolidated Tangible Net Worth” means, at any date of determination, all amounts that would, in conformity with GAAP,
be included on a consolidated balance sheet of the Company and its Restricted Subsidiaries under stockholders’ equity on such date less the amount of all intangible items included therein, including, without limitation, goodwill, franchises,
licenses, patents, trademarks, trade names, copyrights, service marks, brand names and write-ups of assets (but only to the extent that such items would be included on a consolidated balance sheet of the Company and its Restricted Subsidiaries in
accordance with GAAP). 

  
 11 

 “Continuing Directors” means, as of any date of determination, any member
of the Board of Directors of the Company who: 
 (1) was a member of such Board of Directors on the date of this
Indenture (immediately after giving effect to the Transactions on the Escrow Release Date); or 
 (2) was
nominated for election or elected to such Board of Directors with the approval of a majority of the Continuing Directors who were members of such Board of Directors at the time of such nomination or election. 

“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, and the terms “Controlling” and “Controlled” shall have meanings correlative thereto. 

“Corporate Trust Office of the Trustee” will be at the address of the Trustee specified in Section 13.02 hereof or
such other address as to which the Trustee may give notice to the Company. 
 “Custodian” means the Trustee, as
custodian with respect to the Notes in global form, or any successor entity thereto. 
 “Default” means any
event, occurrence or condition which is, or upon notice, lapse of time or both would constitute, an Event of Default. 

“Definitive Note” means a certificated Note registered in the name of the Holder thereof and issued in accordance with
Section 2.06 hereof, substantially in the form of Exhibit A1 hereto except that such Note shall not bear the Global Note Legend and shall not have the “Schedule of Exchanges of Interests in the Global Note” attached thereto.

 “Depositary” means, with respect to the Notes issuable or issued in whole or in part in global form, the
Person specified in Section 2.03 hereof as the Depositary with respect to the Notes, and any and all successors thereto appointed as depositary hereunder and having become such pursuant to the applicable provision of this Indenture. 

“Disqualified Stock” means any Capital Stock which, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable or exercisable), or upon the happening of any event, matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder of the Capital
Stock, in whole or in part, on or prior to the date that is 91 days after the date on which the Notes mature, other than as a result of a change of control or asset sale event so long as any rights of the holders thereof upon the occurrence of a
change of control or asset sale event shall be subject to the prior repayment in full of the Notes and all other Obligations that are accrued and payable; provided that, if such Capital Stock is issued to any plan for the benefit of employees
of the Company or any of its Restricted Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because they may be required to be repurchased by the Company in order to satisfy
applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Indenture will be the maximum amount
that the Company and its Restricted Subsidiaries may become obligated to pay upon the maturity of, or pursuant to any mandatory redemption provisions of, such Disqualified Stock, exclusive of accrued dividends. 

  
 12 

 “Domestic Restricted Subsidiary” means any Restricted Subsidiary of the
Company that was formed under the laws of the United States or any state of the United States or the District of Columbia. 

“Equity Interests” means with respect to any Person, any and all shares, interests, rights to purchase, warrants,
options, participations or other equivalents, including membership interests (however designated, whether voting or nonvoting), of equity of such Person, including, if such Person is a partnership, partnership interests (whether general or limited),
or if such Person is a limited liability company, membership interests and any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of property of, such partnership,
whether outstanding on the date hereof or issued on or after the date of this Indenture, but excluding debt securities convertible or exchangeable into such equity. 
 “Equity Offering” means an offer and sale of Capital Stock (other than Disqualified Stock). 
 “Equivalent Regulated Subsidiary” means any Restricted Subsidiary of the Company substantially all of whose business and operations are substantially similar to some or all of the
business and operations of a Broker-Dealer Restricted Subsidiary or any Restricted Subsidiary that is an operating regulated entity or licensed mortgage Restricted Subsidiary, as applicable, in each case that is existing as of the Escrow Release
Date. 
 “Escrow Account” has the meaning specified in the Escrow Agreement. 

“Escrow Agreement” means the Escrow Agreement, dated as of June 5, 2013, by and among the Company, GETCO and The
Bank of New York Mellon, as trustee and escrow agent. 
 “Escrow Property” has the meaning specified in the
Escrow Agreement. 
 “Escrow Release Date” has the meaning specified in the Escrow Agreement. 

“Escrow Termination Date” has the meaning specified in the Escrow Agreement as in effect on the date of this Indenture.

 “Euroclear” means Euroclear Bank, S.A./N.V., as operator of the Euroclear system. 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

“Exchange and Clearing Operations” means the business relating to exchange and clearing, depository and settlement of
operations conducted by the Company or any Restricted Subsidiary. 
 “Exchange Notes” means the Notes issued in
the Exchange Offer pursuant to Section 2.06(f) hereof. 
 “Exchange Offer” has the meaning set forth in
the Registration Rights Agreement. 
 “Exchange Registration Statement” has the meaning set forth in the
Registration Rights Agreement. 
 “Excluded Accounts” means (i) payroll accounts, (ii) deposit
accounts used solely for taxes, including, without limitation, sales tax, (iii) deposit accounts used solely for escrow accounts, (iv) deposit accounts used solely for fiduciary or trust accounts, (v) employee benefits accounts (to
the extent exclusively containing funds held for employee benefits), (vi) 401(k) accounts (to the extent exclusively 

  
 13 

 
containing funds held for 401(k) accounts), (vii) pension fund accounts (to the extent exclusively containing funds held for pension funds), (viii) any deposit account or securities
account the funds or securities in which consist solely of amounts pledged or deposit under clauses (4), (5), (14), (21) and (24) of the definition of Permitted Liens, and (ix) deposit accounts the daily balance in which does not at
any time exceed $1,000,000 for any such deposit account or $3,000,000 for all such deposit accounts. 
 “Excluded
Debt” means Indebtedness incurred in the ordinary course of business by a Broker-Dealer Subsidiary, any Restricted Subsidiary of the Company that is an operating regulated entity or any licensed mortgage Restricted Subsidiary or any
Restricted Subsidiary of a Broker-Dealer Subsidiary, or any other Restricted Subsidiary of the Company that is an operating regulated entity or licensed mortgage Restricted Subsidiary or any other Restricted Subsidiary of the Borrower that is an
Equivalent Regulated Subsidiary and, in each case, that is (i) (x) in the case of any Broker-Dealer Subsidiary or an Equivalent Regulated Subsidiary, secured under customary terms by marketable securities and similar or related assets and
(y) in the case of any Restricted Subsidiary of the Company that is an operating regulated entity or licensed mortgage Restricted Subsidiary or any Restricted Subsidiary thereof or any Equivalent Regulated Subsidiary, secured under customary
terms by marketable securities, financial instruments and similar or related assets, which in each case would be customarily subject of a Repo Agreement or customarily acceptable as “borrowing base collateral” in secured warehouse
financings for similar companies or (ii) unsecured but where such Restricted Subsidiary holds unencumbered cash and marketable securities with a fair market value sufficient to fully secure such Indebtedness. 

“Excluded Net Proceeds” means Net Proceeds from any Asset Sale in respect of (x) any Foreign Restricted Subsidiary
or Excluded Regulated Restricted Subsidiary to the extent such Net Proceeds are required pursuant to Legal Requirements (other than pursuant to such Restricted Subsidiary’s organizational documents) to be used to assure compliance with capital
requirements applicable to such Restricted Subsidiary, provided that at such time as such Net Proceeds are no longer needed to assure compliance with such capital requirements, such Net Proceeds shall not constitute Excluded Net Proceeds, or
(y) any non-Wholly Owned Restricted Subsidiary to the extent that such Net Proceeds are required to be distributed (and have been distributed) to the shareholders of such Restricted Subsidiary who are not the Company or any Restricted
Subsidiary thereof. 
 “Excluded Property” means (A) any lease, license, contract, property rights or
other agreement, or any property subject to a purchase money security interest or similar arrangement, to which the Company or any Guarantor is a party, any of its rights or interests thereunder, or any assets subject thereto, if and for so long as
the grant of such security interest shall constitute or result in (i) the abandonment, invalidation or unenforceability of any right, title or interest of the Company or any Guarantor therein or (ii) a breach or termination pursuant to the
terms of, or a default under, any such lease, license, contract, property rights or other agreement, or agreement in connection with any property subject to a purchase money security interest or similar arrangement (other than to the extent that any
such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any successor provision or provisions) of any relevant jurisdiction after giving effect to the applicable anti-assignment provisions of the UCC
or any other applicable Legal Requirement (including Title 11 of the United States Code entitled “Bankruptcy,” as now or hereafter in effect, or any successor thereto, or principles of equity); provided, however, that in the
case of (i) such security interest shall attach immediately and automatically at such time as the condition causing such abandonment, invalidation or unenforceability shall be remedied; provided, further, that, to the extent
severable, shall attach immediately to any portion of such lease, license, contract, property rights or agreement that does not result in any of the consequences specified in (i) or (ii) including any proceeds and receivables of such
lease, license, contract, property rights or agreement; (B) any assets the grant of a pledge or other security interest thereunder would be prohibited by any Legal Requirement; (C) any assets of a Foreign Subsidiary and any of the
outstanding Voting Stock of any Foreign Subsidiary in excess of 66% of the total Voting 

  
 14 

 
Stock of such Foreign Subsidiary; (D) any of the outstanding Equity Interests of any person other than a Wholly Owned Subsidiary if and to the extent that the grant of a security interest in
such Equity Interests is prohibited by the terms of such person’s organizational documents or joint venture documents, so long as such restrictions did not arise in anticipation of the Indenture Documents and the liens to be created thereunder;
(E) any of the outstanding Equity Interests of any Excluded Regulated Subsidiary if the Company has certified to the collateral agent in writing that in its reasonable judgment the grant of a security interest in such Equity Interests pursuant
to the Collateral Documents would have a materially adverse regulatory effect or is not permitted by applicable law; (F) letter-of-credit rights (except to the extent perfection therein can be obtained by filing of UCC financing statements);
(G) any governmental licenses or state or local franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby; (H) any trademark
applications filed in the United States Patent and Trademark Office on the basis of the Company’s or any Guarantor’s “intent-to-use” such trademark, unless and until acceptable evidence of such use of such trademark has been
filed with the United States Patent and Trademark Office pursuant to Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et seq.), to the extent that granting a lien in such trademark application prior to such filing would
adversely affect the enforceability or validity of such trademark application or an ensuing registration; (I) Excluded Accounts; (J) any motor vehicles or other assets subject to certificates of title (except to the extent perfection
therein can be obtained by filing of UCC financing statements); (K) any real property or real property interests (including leasehold interests to the extent not constituting personal property) other than fee owned real property with fair
market value greater than $2,500,000; and (L) those assets as to which the collateral agent and the Company reasonably agree in writing that the cost of obtaining a security interest in or perfection thereof is excessive in relation to the
benefit to the Holders of Notes of the security to be afforded thereby. 
 “Excluded Regulated Subsidiary”
means any Restricted Subsidiary of the Company that is (a) a Broker-Dealer Subsidiary or a Restricted Subsidiary of a Broker-Dealer Subsidiary or (b) another regulated entity or a licensed mortgage Restricted Subsidiary, in each case in
respect of which the guaranteeing by such Restricted Subsidiary of the Obligations under the Indenture Documents could, in the good faith judgment of the Company, reasonably be expected to result in adverse regulatory effects to such Subsidiary or
impair the conduct of the business of such Restricted Subsidiary. 
 “Excluded Swap Obligations” means, with
respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or
becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to
constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with respect to such
Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or security interest is
or becomes illegal. 
 “Existing Indebtedness” means Indebtedness of the Company and its Restricted
Subsidiaries (other than Indebtedness under the Senior Credit Facility or the Notes) in existence on the date of this Indenture, until such amounts are repaid. 
 “Fair Market Value” means, with respect to any asset (including any Equity Interests of any Person), the price at which a willing arms-length buyer, and a willing arms-length seller in a
transaction would agree to purchase and sell such asset, as determined in good faith by a Responsible Officer of the Company or, if such Fair Market Value is above $5,000,000, the Board of Directors or, pursuant to a delegation of authority by such
Board of Directors of the Company. 

  
 15 

 “First Lien Obligations” means, collectively, the Senior Credit Facility
Debt and any other Indebtedness or other Obligations of the Company and the Guarantors secured by a Lien that is prior to, or senior to, the Lien securing the Notes. 
 “Fixed Charge Coverage Ratio” means with respect to any specified Person for any period, the ratio of the Consolidated Cash Flow of such Person for such period to the Fixed Charges of
such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness (other than ordinary working
capital borrowings) or issues, repurchases or redeems preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation
of the Fixed Charge Coverage Ratio is made (the “Calculation Date”), then the Fixed Charge Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance
or other discharge of Indebtedness, or such issuance, repurchase or redemption of preferred stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four- quarter reference period. 

In addition, for purposes of calculating the Fixed Charge Coverage Ratio: 

(1) acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through
mergers or consolidations, or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted Subsidiaries, and including any related financing transactions and including increases in ownership of
Restricted Subsidiaries, during the four-quarter reference period or subsequent to such reference period and on or prior to the Calculation Date will be given pro forma effect (in accordance with Regulation S-X under the Securities Act) as if they
had occurred on the first day of the four-quarter reference period; 
 (2) the Consolidated Cash Flow
attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded; 

(3) the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and operations or
businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its
Restricted Subsidiaries following the Calculation Date; 
 (4) any Person that is a Restricted Subsidiary on the
Calculation Date will be deemed to have been a Restricted Subsidiary at all times during such four-quarter period; 
 (5) any Person that is not a Restricted Subsidiary on the Calculation Date will be deemed not to have been a Restricted Subsidiary at any time during such four-quarter period; and 

(6) if any Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as
if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligation applicable to such Indebtedness if such Hedging Obligation has a remaining term as at the Calculation Date
in excess of 12 months). 

  
 16 

 “Fixed Charges” means, with respect to any specified Person for any period,
the sum, without duplication, of: 
 (1) Consolidated Interest Expense of such Person and its Restricted
Subsidiaries for such period; and 
 (2) the sum of all dividends, whether paid or accrued and whether or not in
cash, on any series of preferred stock of such Person or any of its Restricted Subsidiaries, other than dividends on Equity Interests payable solely in Equity Interests of the Company (other than Disqualified Stock) or to the Company or a Restricted
Subsidiary of the Company, 
 in each case, determined on a consolidated basis in accordance with GAAP. 

“Foreign Restricted Subsidiary” means any Restricted Subsidiary of the Company that is not a Domestic Restricted
Subsidiary. 
 “Foreign Subsidiary” means a Subsidiary of the Company that is organized under the laws of a
jurisdiction other than the United States, any state thereof or the District of Columbia. 
 “GAAP” means
generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting
Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect on the date of this Indenture. 

“GETCO” means GETCO Holding Company, LLC, a Delaware limited liability company, and its Subsidiaries (prior to the
completion of the mergers pursuant to the Agreement and Plan of Merger). 
 “GETCO Asia” shall mean GETCO Asia
Pte. Ltd, a private limited company and direct Restricted Subsidiary of GETCO organized under the laws of Singapore. 

“Global Note Legend” means the legend set forth in Section 2.06(g)(2) hereof, which is required to be placed on all
Global Notes issued under this Indenture. 
 “Global Notes” means, individually and collectively, each of the
Restricted Global Notes and the Unrestricted Global Notes deposited with or on behalf of and registered in the name of the Depository or its nominee, substantially in the form of Exhibit A1 hereto and that bears the Global Note Legend and that has
the “Schedule of Exchanges of Interests in the Global Note” attached thereto, issued in accordance with Section 2.01, 2.06(b)(3), 2.06(b)(4), 2.06(d)(2) or 2.06(f) hereof. 

“Government Securities” means direct obligations of, or obligations guaranteed by, the United States of America, and the
payment for which the United States pledges its full faith and credit. 
 “Governmental Authority” means any
federal, state, local or foreign (whether civil, criminal, military or otherwise) court, central bank or governmental agency, tribunal, authority, self-regulatory organization (including FINRA and any comparable foreign equivalent thereof),
exchange, instrumentality or regulatory body or any subdivision thereof (including the SEC and any comparable foreign equivalent thereof) or other entity exercising executive, legislative, judicial, taxing, regulatory or

  
 17 

 
administrative powers of or pertaining to any government or any court, in each case whether associated with a state of the United States, the United States or a foreign entity or government
(including any supranational bodies such as the European Union or the European Central Bank). 
 “Guarantee”
means a guarantee other than by endorsement of negotiable instruments for collection in the ordinary course of business, direct or indirect, in any manner including, without limitation, by way of a pledge of assets or through letters of credit or
reimbursement agreements in respect thereof, of all or any part of any Indebtedness (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take or pay or to
maintain financial statement conditions or otherwise). 
 “Guarantors” means each of: 

(1) the Company’s Wholly Owned Domestic Restricted Subsidiaries existing on the date of this Indenture (other than
Immaterial Subsidiaries and Excluded Regulated Subsidiaries); and 
 (2) any other Subsidiary of the Company that
executes a Note Guarantee in accordance with the provisions of this Indenture, 
 and their respective successors and assigns, in each case,
until the Note Guarantee of such Person has been released in accordance with the provisions of Section 11.05 hereof. 

“Hedging Agreement” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions,
forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index
transactions, interest rate options, forward foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, currency options, cap transactions, floor transactions, collar transactions, spot contracts, or any other
similar transactions or any combination of any of the foregoing (including any options or warrants to enter into any of the foregoing), whether or not any such transaction is governed by, or otherwise subject to, any master agreement or any netting
agreement, and (b) any and all transactions or arrangements of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement (or similar documentation) published from
time to time by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such agreement or documentation, together with any related schedules, a
“Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

“Hedging Obligations” means obligations under or with respect to Hedging Agreements. 

“Hedging Termination Value” means, in respect of any one or more Hedging Agreements, after taking into account the
effect of any netting agreements relating to such Hedging Agreements (to the extent, and only to the extent, such netting agreements are legally enforceable in insolvency proceedings against the applicable counterparty obligor thereunder),
(i) for any date on or after the date such Hedging Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and (ii) for any date prior to the date referenced in preceding
clause (i), the amount(s) determined as the mark-to-market value(s) for such Hedging Agreements, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Hedging Agreements.

 “Holder” means a Person in whose name a Note is registered. 

  
 18 

 “Holding Company Reorganization” means the holding company reorganization
pursuant to which the Target will become a direct Wholly Owned Subsidiary of the Company and the holders of the Equity Interests of the Target will become holders of the Equity Interests of the Company. 

“IAI Global Note” means a Global Note substantially in the form of Exhibit A1 hereto bearing the Global Note Legend and
the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of the Notes sold to Institutional Accredited
Investors. 
 “Immaterial Subsidiary” means, as of any date of determination, any Wholly Owned Subsidiary of
the Company (a) whose total assets (on a consolidated basis including its Subsidiaries) as of the last day of the most recently ended period for which financial statements have been delivered pursuant to Section 4.03 hereof did not exceed
$20,000,000 for such period or (b) whose gross revenues (on a consolidated basis including its Subsidiaries) for such period did not exceed $20,000,000 for such period; provided, however, (x) a Wholly Owned Subsidiary of the
Company that no longer meets the foregoing requirements of this definition or is otherwise required to become a Guarantor shall no longer constitute an Immaterial Subsidiary for purposes of this Indenture and (y) notwithstanding the foregoing,
the Company may elect to cause an Immaterial Subsidiary to become a Guarantor, in which case such Immaterial Subsidiary shall no longer constitute an Immaterial Subsidiary. Notwithstanding the foregoing, (i) the total assets of all Immaterial
Subsidiaries shall not exceed $50,000,000 for such period, (ii) the gross revenues of all Immaterial Subsidiaries shall not exceed $50,000,000 for such period and (iii) any Subsidiary of the Company that guarantees or is an obligor of the
Indebtedness incurred under the Senior Credit Facility or the Indebtedness under the Notes shall not be deemed an Immaterial Subsidiary. 
 “Indebtedness” means of any Person at any date means, without duplication, (a) all indebtedness of such Person for borrowed money, (b) all obligations of such person for the
deferred purchase price of property or services (other than (i) trade payables incurred in the ordinary course of such person’s business and (ii) earn-out obligations until such obligations become a liability on the balance sheet of
such person in accordance with GAAP), (c) all obligations of such person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention
agreement with respect to property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease
Obligations and synthetic lease obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or similar
arrangements, (g) the liquidation value of all Disqualified Stock of such Person, (h) all Guarantees of such Person in respect of obligations of the kind referred to in clauses (a) through (g) above, (i) all obligations of
the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights)
owned by such Person, whether or not such Person has assumed or become liable for the payment of such obligation (provided that the amount of any such obligation shall be limited to the lesser of the stated amount thereof and the fair market
value of such property) and (j) all Hedging Obligations of such person, valued at the Hedging Termination Value thereof; provided that the term “Indebtedness” shall not include (A) accrued expenses arising in the ordinary
course of business, (B) prepaid or deferred revenue arising in the ordinary course of business, (C) payments and obligations with respect to deferred employee compensation, stock appreciation rights and similar obligations and
(D) agreements providing for indemnification, for the adjustment of purchase price or for similar adjustments in connection with an acquisition, Investment or disposition permitted by this Indenture. The Indebtedness of any person shall include
the Indebtedness of any other entity (including any partnership in which such person is a general partner), other than to the extent that the instrument or agreement evidencing such terms of such Indebtedness expressly limits the liability of such
person in respect thereof. 

  
 19 

 “Indenture” means this Indenture, as amended or supplemented from time to
time. 
 “Indenture Documents” means this Indenture, the Notes, the Note Guarantees and the Collateral
Documents. 
 “Indenture Obligations” means all Obligations in respect of the Notes or arising under the
Indenture Documents. 
 “Indirect Participant” means a Person who holds a beneficial interest in a Global Note
through a Participant. 
 “Initial Notes” means the first $305,000,000 aggregate principal amount of Notes
issued under this Indenture on the date hereof. 
 “Initial Purchasers” means each of Jefferies LLC, Goldman,
Sachs & Co., Knight Capital Americas LLC and Pierpont Securities LLC. 
 “Institutional Accredited
Investor” means an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who are not also QIBs. 

“Intercreditor Agreement” means the Intercreditor Agreement, dated as of the Escrow Release Date and substantially in
the form attached as Exhibit I hereto. 
 “Investments” means, with respect to any Person, all direct or
indirect investments by such Person in other Persons (including Affiliates) in the forms of loans (including Guarantees or other obligations), advances or capital contributions (excluding loans and advances to officers and employees made in the
ordinary course of business (including for travel, entertainment and relocation)), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, but excluding capital expenditures. If the Company or any
Restricted Subsidiary of the Company sells or otherwise disposes of any Equity Interests of any direct or indirect Restricted Subsidiary of the Company such that, after giving effect to any such sale or disposition, such Person is no longer a
Restricted Subsidiary of the Company, the Company will be deemed to have made an Investment on the date of any such sale or disposition equal to the Fair Market Value of the Company’s Investments in such Restricted Subsidiary that were not sold
or disposed of in an amount determined as provided in the final paragraph of Section 4.07 hereof. The acquisition by the Company or any Restricted Subsidiary of the Company of a Person that holds an Investment in a third Person will be deemed
to be an Investment by the Company or such Restricted Subsidiary in such third Person in an amount equal to the Fair Market Value of the Investments held by the acquired Person in such third Person in an amount determined as provided in the final
paragraph of Section 4.07 hereof. Except as otherwise provided in this Indenture, the amount of an Investment will be determined at the time the Investment is made and without giving effect to subsequent changes in value. 

“Knight” means Knight Capital Group, Inc., a Delaware corporation, and its Subsidiaries (prior to the completion of the
mergers pursuant to the Agreement and Plan of Merger). 
 “Knight Capital Americas Amended LLC Agreement” means
the Fifth Amended and Restated Limited Liability Company Agreement of Knight Capital Americas LLC (f/k/a Knight Execution & Clearing Services LLC). 

  
 20 

 “Knight Capital Americas Preferred Units” means the “Series A
Preferred Units” issued, or to be issued, pursuant to and in accordance with the Knight Capital Americas Amended LLC Agreement. 
 “Legal Holiday” means a Saturday, a Sunday or a day on which banking institutions in the City of New York or at a place of payment are authorized by law, regulation or executive order to
remain closed. If a payment date is a Legal Holiday at a place of payment, payment may be made at that place on the next succeeding day that is not a Legal Holiday, and no interest shall accrue on such payment for the intervening period. 

“Legal Requirements” means, as to any Person, the organizational documents of such Person, and any treaty, law
(including the common law), statute, ordinance, code, rule, regulation, guidelines, license, permit requirement, order or determination of an arbitrator or a court or other governmental authority, and the interpretation or administration thereof, in
each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 
 “Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders of the Notes for use by such Holders in connection with the Exchange Offer.

 “Lien” means any mortgage, pledge, hypothecation, collateral assignment, deposit arrangement, encumbrance,
lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever in nature of a security interest (including any conditional sale or
other title retention agreement and any capital lease having substantially the same economic effect as any of the foregoing); provided that in no event shall an operating lease or an agreement to sell be deemed to constitute a Lien.

 “Material Indebtedness” means any Indebtedness (other than the Notes) or Hedging Obligations of the Company
or any Restricted Subsidiary in an aggregate outstanding principal amount of $35,000,000 or more. For purposes of determining Material Indebtedness, the “principal amount” in respect of any Hedging Obligations at any time shall be the
Hedging Termination Value thereof at such time. 
 “Maximum Pari Passu Indebtedness Principal Amount” means the
maximum aggregate principal amount of Indebtedness provided under a Supplement to the Intercreditor Agreement, which is permitted under the Senior Credit Facility at the time of the execution and delivery of such Supplement to the Intercreditor
Agreement. 
 “Moody’s” means Moody’s Investors Service, Inc. 

“Mortgages” means each mortgage, deed of trust or similar document under which any Lien on real property owned by the
Company or any Guarantor is granted to secure any Obligations under the Indenture Documents, or under which rights or remedies with respect to any such Liens are governed. 
 “Net Proceeds” means, in each case net of, without duplication, any applicable taxes that are paid or payable as reasonably determined by the Company (provided that, to the extent
such taxes that are determined by the Company as payable are not paid by the time such taxes are required to be paid, such unpaid amounts shall constitute Net Proceeds): 

(1) with respect to any Asset Sale (other than any issuance or sale of Equity Interests), the proceeds thereof in the form
of cash and Cash Equivalents (including any such proceeds received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable, or by the sale, transfer or other disposition of

  
 21 

 
any non-cash consideration received in connection therewith or otherwise, but only as and when received) received by the Company or any Restricted Subsidiary (including cash proceeds subsequently
received (as and when received by the Company or any Restricted Subsidiary) in respect of non-cash consideration initially received) net of (i) reasonable and customary selling expenses (including reasonable brokers’ fees or commissions,
legal, accounting and other professional and transactional fees, transfer and similar taxes and the Company’s good faith estimate of income taxes paid or payable in connection with such sale), (ii) amounts provided as a reserve, in
accordance with GAAP, against (x) any liabilities under any indemnification obligations associated with such Asset Sale or (y) any other liabilities retained by the Company or any Restricted Subsidiary associated with the properties sold
in such Asset Sale (provided that, to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Proceeds), and (iii) the principal amount, premium or penalty, if any, interest and other
amounts on any Indebtedness for borrowed money and that are either secured by a Lien on the properties sold in such Asset Sale (so long as such Lien was permitted to encumber such properties under the Indenture Documents at the time of such sale)
and which is repaid with such proceeds (other than any such Indebtedness assumed by the purchaser of such properties) or otherwise required to be repaid (and is actually repaid) pursuant to any mandatory prepayment requirements or otherwise, but
excluding Indebtedness under the Indenture Documents; and 
 (2) with respect to any (i) issuance of
Indebtedness, (ii) issuance or sale of Equity Interests by any Restricted Subsidiary of the Company (other than to the Company or any Restricted Subsidiary thereof) or (iii) the sale or issuance of Capital Stock of the Company (other than
Disqualified Stock) (other than to a Restricted Subsidiary of the Company), the cash proceeds thereof received by the Company or any Restricted Subsidiary, in each case, net of reasonable and customary fees and expenses (including legal, accounting
and other professional and transaction fees and expenses and brokers’ fees and expenses, commissions, costs and other expenses incurred in connection therewith). 
 “Non-Recourse Debt” means Indebtedness: 
 (1) as
to which neither the Company nor any of its Restricted Subsidiaries (a) provides credit support of any kind (including any undertaking, agreement or instrument that would constitute Indebtedness), (b) is directly or indirectly liable as a
guarantor or otherwise, or (c) constitutes the lender; 
 (2) no default with respect to which (including
any rights that the holders of the Indebtedness may have to take enforcement action against an Unrestricted Subsidiary) would permit upon notice, lapse of time or both any holder of any other Indebtedness of the Company or any of its Restricted
Subsidiaries to declare a default on such other Indebtedness or cause the payment of the Indebtedness to be accelerated or payable prior to its Stated Maturity; and 

(3) as to which the lenders have been notified in writing that they will not have any recourse to the stock or assets
of the Company or any of its Restricted Subsidiaries. 
 “Non-U.S. Person” means a Person who is not a U.S.
Person. 
 “Note Guarantee” means the Guarantee by each Guarantor of the Company’s obligations under this
Indenture and the Notes, executed pursuant to the provisions of this Indenture. 
 “Notes” has the meaning
assigned to it in the preamble to this Indenture. The Initial Notes and the Additional Notes shall be treated as a single class for all purposes under this Indenture, and unless the context otherwise requires, all references to the Notes shall
include the Initial Notes and any Additional Notes. 

  
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 “Notes Secured Parties” means the Collateral Agent, the Trustee and the
Holders. 
 “Obligations” means any principal, interest, penalties, fees, indemnifications, reimbursements,
damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Offering
Memorandum” means the offering memorandum dated as of May 21, 2013 relating to the offering of the Initial Notes. 

“Officer” means, with respect to any Person, the Chairman of the Board, the Chief Executive Officer, the President, the
Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Vice-President or Manager of such Person. 
 “Officers’ Certificate” means a certificate signed on behalf of the Company by two Officers of the Company, one of whom must be the principal executive officer, the principal
financial officer, the treasurer or the principal accounting officer of the Company, that meets the requirements of Section 13.05 hereof. 
 “Opinion of Counsel” means an opinion from legal counsel that meets the requirements of Section 13.05 hereof and is reasonably acceptable to the Trustee. The counsel may be an
employee of or counsel to the Company or any Subsidiary of the Company. 
 “Pari Passu Indebtedness” means any
Indebtedness (1) that is permitted to be incurred under Section 4.09 hereof, (2) that is secured on a pari passu (and for the avoidance of doubt, not a junior or subordinated) basis with the Notes and the Note Guarantees, as
applicable, by a Permitted Lien described in clause (15) of the definition of Permitted Liens, and (3) the aggregate principal amount of which does not at any time exceed the Maximum Pari Passu Indebtedness Principal Amount;
provided that (i) such Indebtedness is so designated as Pari Passu Indebtedness in an Officers’ Certificate delivered to the Collateral Agent and (ii) an authorized representative of the holders of such Indebtedness shall have
executed and delivered a Supplement to the Intercreditor Agreement and an Accession Agreement. 
 “Participant”
means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). 

“Permitted Business” means businesses which are the same, similar, ancillary or reasonably related to the businesses in
which the Company and its Restricted Subsidiaries are engaged on the date of this Indenture (or which are reasonable extensions thereof). 
 “Permitted Investments” means: 
 (1) extensions of
trade credit in the ordinary course of business; 
 (2) (i) acquisition by the Company or any Restricted
Subsidiary of accounts receivable owing to any one of them if created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary terms and (ii) Investments by the Company or any Restricted
Subsidiary in Cash Equivalents (and other Investments in the ordinary course of a broker-dealer business); 

  
 23 

 (3) Guarantees permitted by Section 4.09 hereof; 

(4) (i) loans and advances to directors, officers and employees of any Company in the ordinary course of business
(including for travel, entertainment and relocation expenses) and (ii) other loans and advances to employees of any Company in an aggregate amount for the Company and its Restricted Subsidiaries not to exceed $10,000,000 at any one time
outstanding (determined without regard to any write-downs or write-offs of such loans); provided that no loans in violation of Section 402 of the Sarbanes-Oxley Act shall be permitted hereunder; 

(5) (i) Investments by (A) the Company or any of its Restricted Subsidiaries in the Company or any Restricted
Subsidiary of the Company that is or becomes a Guarantor (or in any Person that as a result of such Investment becomes a Restricted Subsidiary and a Guarantor), (B) any Restricted Subsidiary of the Company that is not a Guarantor (other than a
Broker-Dealer Subsidiary that is a Domestic Restricted Subsidiary) in any other Restricted Subsidiary of the Company that is not a Guarantor (or in any Person that as a result of such Investment becomes a Restricted Subsidiary that is not a
Guarantor) and (C) the Company or any Guarantor in any Restricted Subsidiary that is not a Guarantor (or in any Person that becomes a Restricted Subsidiary); provided that the Investments by the Company or any Guarantor in Restricted
Subsidiaries that are not Guarantors, Broker-Dealer Subsidiaries or GETCO Asia (in the case of GETCO Asia, so long as GETCO Asia is an Equivalent Regulated Subsidiary) shall not in the aggregate exceed $20,000,000 at any time outstanding (determined
without regard to any write-downs or write-offs thereof) and (ii) intercompany Investments existing on the date of this Indenture and any refinancings, refundings, renewals or extensions thereof so long as the amount of the original Investment
is not increased except by the express terms of such Investment (as in effect on the date of this Indenture) or as otherwise may constitute a Permitted Investment or is permitted by Section 4.07 hereof; provided that each such
intercompany Investment in the form of a loan or other advance shall be evidenced by an intercompany note and, if held by the Company or any Guarantor, shall be pledged and delivered to the collateral agent pursuant to the applicable Collateral
Documents. Investments permitted to be made in Broker-Dealer Subsidiaries and GETCO Asia pursuant to this clause (5) may be made in a Restricted Subsidiary that owns all of the Equity Interests of such Person so long as such Restricted
Subsidiary uses the proceeds of such Investment to make a concurrent Investment in such Person; 
 (6)
(i) any Investment by the Company or any of the Guarantors or a Broker-Dealer Subsidiary in a Broker-Dealer Subsidiary (or in any Person that as a result of such Investment becomes a Broker-Dealer Subsidiary), (ii) any Investment by the
Company, any Guarantor, Restricted Subsidiary of the Company that is an operating regulated entity (other than a Broker-Dealer Subsidiary) or licensed mortgage Restricted Subsidiary in any Restricted Subsidiary that is an operating regulated entity
(other than a Broker-Dealer Subsidiary) or licensed mortgage Restricted Subsidiary (or in any Person that as a result of such Investment becomes a Restricted Subsidiary that is an operating regulated entity (other than a Broker-Dealer Subsidiary) or
licensed mortgage Restricted Subsidiary), (iii) any Investment by the Company, any Guarantor or a Broker-Dealer Subsidiary in the form of the purchase of by the Company, such Guarantor or a Broker-Dealer Subsidiary any Investment held by a
Broker-Dealer Subsidiary, (iv) any Investment by the Company, any Guarantor, Restricted Subsidiary that is an operating regulated entity (other than a Broker-Dealer Subsidiary) or licensed mortgage Restricted Subsidiary in the form of the
purchase by the Company or such Guarantor, Restricted Subsidiary that is an operating regulated entity or licensed mortgage Restricted Subsidiary of any Investment held by a Restricted Subsidiary that is an operating regulated entity (other than a
Broker-Dealer Subsidiary) or licensed mortgage Restricted Subsidiary, in each case with the intent of (x) permitting such Broker-Dealer Subsidiary, other Restricted Subsidiary that is an operating regulated entity or licensed mortgage
Restricted Subsidiary to comply with applicable capital requirements on a temporary basis or (y) to finance the working capital needs of such Broker-Dealer Subsidiary, other Restricted Subsidiary that is an operating regulated entity or

  
 24 

 
licensed mortgage Restricted Subsidiary (including customer requirements) or (v) Investments in any Person that becomes a Broker-Dealer Subsidiary, Excluded Regulated Subsidiary or a Wholly
Owned Restricted Subsidiary substantially all of whose assets are (and continue to be) Equity Interests of one or more Excluded Regulated Subsidiaries; provided that each such intercompany Investment in the form of a loan or other advance
shall be evidenced by an intercompany note and, if held by the Company or any Guarantor, shall be pledged and delivered to the collateral agent pursuant to the applicable Collateral Documents. Investments permitted to be made in Broker-Dealer
Subsidiaries, Restricted Subsidiaries that are operating regulated entities, licensed mortgage Restricted Subsidiaries or Equivalent Regulated Subsidiaries pursuant to this clause (6) may be made in a Restricted Subsidiary that owns all of the
Equity Interests of such Person so long as such Restricted Subsidiary uses the proceeds of such Investment to make a concurrent Investment in such Person; 
 (7) Investments consisting of extensions of credit entered into or made or that are received in the ordinary course of business and Investments received in satisfaction or partial satisfaction therefrom
from financially troubled account debtors in the ordinary course of business; 
 (8) Investments existing on the
date of this Indenture and any modification, replacement, renewal, reinvestment or extension thereof; provided that the amount of the original Investment is not increased except by the express terms of such Investment (as in effect on the
date of this Indenture); 
 (9) Investments represented by Hedging Obligations permitted by Section 4.09
hereof; 
 (10) any Investment made as a result of the receipt of non-cash consideration from (x) an Asset
Sale that was made pursuant to and in compliance with Section 4.10 hereof or (y) dispositions of assets not constituting an Asset Sale; 
 (11) Investments in the ordinary course of business consisting of Article 3 of the UCC endorsements for collection or deposit and Article 4 of the UCC customary trade arrangements with customers
consistent with past practices; 
 (12) Investments (including debt obligations and Equity Interests) received in
connection with the bankruptcy or reorganization of suppliers and customers or in settlement of delinquent obligations of, or other disputes with, customers and suppliers arising in the ordinary course of business or upon the foreclosure with
respect to any secured Investment or other transfer of title with respect to any secured Investment; 
 (13)
advances of payroll payments to employees of the Company or any of its Restricted Subsidiaries in the ordinary course of business; 
 (14) Investments reflected on the financial statements of the Company and its Restricted Subsidiaries as included in reports on Forms 10-K and 10-Q as filed with the SEC as “Deferred Compensation
Investments” and on a basis consistent with past practice; 

  
 25 

 (15) Investments in the ordinary course of business arising under
arrangements in connection with the participation in or through any clearing system or investment, commodities or stock exchange where the Investment arises under the rules, normal procedures, agreements or legislation governing trading on or
through such system or exchange; 
 (16) Investments consisting of the term loans under the Senior Credit
Facility; 
 (17) repurchases of the Notes; and 

(18) so long as no Default then exists or would result therefrom, other Investments in an aggregate amount not to exceed
$60,000,000. 
 “Permitted Liens” means: 

(1) Liens securing Consolidated First Lien Indebtedness in an aggregate principal amount not to exceed the greater of
(x) the principal amount of Indebtedness permitted to be incurred pursuant to clause (1) of the definition of Permitted Debt and (y) the maximum principal amount of Indebtedness that, after giving pro forma effect to the incurrence of
such Indebtedness and the application of the proceeds therefrom, would not cause the Consolidated First Lien Leverage Ratio to exceed 1.75 to 1.00; 
 (2) Liens for taxes, assessments or governmental charges or claims that are (i) not yet due, (ii) that are being contested in good faith by appropriate proceedings, (iii) that are not at
the time delinquent or thereafter can be paid without penalty; or (iv) the failure of which would not reasonably be expected to have a material adverse effect; provided that adequate reserves with respect thereto are maintained on the
books of the Company or its Restricted Subsidiaries, as the case may be, in conformity with GAAP; 
 (3) Liens
imposed by law, such as carriers’, warehousemen’s, mechanics’, materialmen’s, landlords’, repairmen’s or other like Liens, in each case, incurred in the ordinary course of business, which are not overdue for a period of
more than 60 days or that are being contested in good faith and by appropriate proceedings; 
 (4)
(i) pledges or deposits in connection with workers’ compensation, unemployment insurance, old age pensions and other social security or retirement legislation and (ii) pledges and deposits in the ordinary course of business securing
liability for reimbursement or indemnification obligations of (including obligations in respect of letters of credit or bank guarantees for the benefit of) insurance carriers providing property, casualty or liability insurance to the Company or any
of its Restricted Subsidiaries; 
 (5) deposits to secure the performance of bids, trade contracts, leases,
statutory obligations, surety, stay, customs and appeal bonds, performance bonds and other obligations of a like nature (including those to secure health, safety and environmental obligations) incurred in the ordinary course of business (in each
case, exclusive of obligations for the payment of Indebtedness); 
 (6) (i) easements, rights-of-way,
restrictions, covenants, reservations, zoning ordinances, building restrictions, encroachments, licenses, sewers, electric lines, telegraph and telephone lines and other similar encumbrances incurred in the ordinary course of business that do not
secure Indebtedness and that do not in any case materially impair the use of operation of the property subject thereto or materially and adversely interfere with the ordinary conduct of the business of the Company or any of its Restricted
Subsidiaries and (ii) such other title or survey matters as the trustee has approved in its reasonable discretion; 

  
 26 

 (7) Liens existing on the date of this Indenture; 

(8) Liens to secure any Permitted Refinancing Indebtedness permitted to be incurred under this Indenture; provided
that any such replacement or substitute Lien (i) does not secure an aggregate amount of Indebtedness or other obligations, if any, greater than that amount outstanding at the time of such refinancing plus an amount necessary to pay any fees and
expenses, including premiums, related to such renewal, refunding, refinancing, replacement, defeasance or discharge and (ii) does not encumber any property other than the property subject thereto on the date of this Indenture (other than
after-acquired property that is related to the property covered by such Lien on the date of this Indenture and proceeds and products of such property); 
 (9) Liens securing Permitted Debt described in clause (9) of the definition thereof, provided that such Liens do not at any time encumber any property other than the property financed by such
Indebtedness (other than after- acquired property that is related to the property covered by such Lien and proceeds and products of such property); 
 (10) Liens created for the benefit of (or to secure) the Notes and the Note Guarantees issued on the date of this Indenture, and the exchange Notes and related Note Guarantees to be issued pursuant to the
Registration Rights Agreement; 
 (11) any interest or title of a lessor under any lease entered into by the
Company or any of its Restricted Subsidiaries covering only the assets so leased; 
 (12) Liens on property
(including Capital Stock) existing at the time of acquisition of the property by the Company or any Restricted Subsidiary of the Company; provided that such Liens were in existence prior to, such acquisition, and not incurred in contemplation
of, such acquisition; 
 (13) Liens on property of a Person existing at the time such Person is merged with or
into or consolidated with the Company or any Restricted Subsidiary of the Company; provided that such Liens were in existence prior to the contemplation of such merger or consolidation and do not extend to any assets other than those of the
Person merged into or consolidated with the Company or the Restricted Subsidiary; 
 (14) Liens on assets
described in clause (i) of the definition of “Excluded Debt” to secure Excluded Debt and created, incurred or assumed by any Broker-Dealer Subsidiary, any other Restricted Subsidiary of the Company that is an operating regulated
entity or licensed mortgage Restricted Subsidiary or any Restricted Subsidiary of a Broker-Dealer Subsidiary, other Restricted Subsidiary that is an operating regulated entity or licensed mortgage Restricted Subsidiary or any Equivalent Regulated
Subsidiary; 
 (15) Liens securing Second Lien Obligations pursuant to the Collateral Documents in an aggregate
principal amount not to exceed the maximum principal amount of Indebtedness that, after giving pro forma effect to the incurrence of such Indebtedness and the application of the proceeds therefrom, would not cause the Consolidated Secured
Indebtedness Ratio to exceed 3.00 to 1.00; 

  
 27 

 (16) Liens incidental to the conduct of the Company’s or any of its
Restricted Subsidiaries’ businesses or the ownership of their properties which were not incurred in connection with the borrowing of money or the obtaining of advances or credit, and which do not in the aggregate detract from the value of their
properties or impair the use thereof in the operation of their businesses; 
 (17) Liens securing judgments for
the payment of money not constituting an Event of Default under clause (5) of Section 6.01 hereof; 
 (18) Liens
(i) of a collection bank arising under Section 4-210 of the UCC on the items in the course of collection, (ii) attaching to commodity trading accounts or other commodities brokerage accounts or relating to pooled deposit or sweep accounts of the
Company or any of its Restricted Subsidiaries to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business, (iii) in favor of a banking or other financial institution arising as a matter of law encumbering
deposits or other funds maintained with a financial institution (including the right of set off) and which are within the general parameters customary in the banking industry and (iv) in the nature of contractual rights of set-off relating to
purchase orders and other agreements entered into with customers of the Company or any of its Restricted Subsidiaries or otherwise in the ordinary course of business and customary holdbacks under credit cards or similar merchant processing;

 (19) Liens securing obligations of the Company or any Restricted Subsidiary of the Company in respect of any
Hedging Agreements entered into in the ordinary course of business and for non-speculative purposes; 
 (20)
leases, licenses, subleases or sublicenses (including the provision of software under an open source license) granted to others in the ordinary course of business which do not (i) impair in any material respect the operation of the business of the
Company or any of its Restricted Subsidiaries, taken as a whole, or (ii) secure any Indebtedness; 
 (21) Liens
solely on any cash earnest money deposits made by the Company or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement permitted hereunder; 

(22) Liens arising from precautionary UCC financing statement filings in connection with operating leases; 

(23) Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto;

 (24) utility and similar deposits made by the Company or any of its Restricted Subsidiaries in the ordinary
course of business; 
 (25) Liens on assets of Foreign Subsidiaries securing the Indebtedness of Foreign
Subsidiaries under Section 4.09(b)(12) hereof; 
 (26) temporary Liens in connection with sales, transfers,
leases, assignments or other conveyances or dispositions of securities permitted under Section 4.10 hereof, consisting of (x) Liens on securities granted or deemed to arise in connection with and as a result of the execution, delivery or performance
of contracts to sell such securities if such sale is otherwise permitted under this Indenture, or is required by such contracts to be permitted under this Indenture, and (y) 

  
 28 

 
rights of first refusal, options or other contractual rights or obligations to sell, assign or otherwise dispose of any securities or interest therein, which rights of first refusal, option or
contractual rights are granted in connection with a sale, transfer or other disposition of securities permitted under this Indenture; 
 (27) Liens granted to any exchange or clearing depository or in connection with settlement operations in the ordinary course of business; and 

(28) Liens in favor of the Company or the Guarantors, and Liens on assets of any Restricted Subsidiary of the Company that
is not a Guarantor in favor of any Restricted Subsidiary of the Company that is not a Guarantor. 
 “Permitted
Refinancing Indebtedness” means any Indebtedness of the Company or any of its Restricted Subsidiaries issued in exchange for, or the net proceeds of which are used to renew, refund, refinance, replace, defease or discharge other
Indebtedness of the Company or any of its Restricted Subsidiaries (other than intercompany Indebtedness); provided that: 
 (1) the principal amount (or accreted value, if applicable) of such Permitted Refinancing Indebtedness does not exceed the principal amount (or accreted value, if applicable) of the Indebtedness renewed,
refunded, refinanced, replaced, defeased or discharged plus all accrued interest on the Indebtedness and the amount of all fees and expenses, including premiums, incurred in connection therewith; 

(2) such Permitted Refinancing Indebtedness has a final maturity date equal to or later than the final maturity date of,
and has a Weighted Average Life to Maturity equal to or greater than the Weighted Average Life to Maturity of, the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged; 

(3) if the Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged is subordinated in right of
payment to the Notes, such Permitted Refinancing Indebtedness is subordinated in right of payment to the Notes on terms no less favorable to the Holders of Notes in any material respect as those contained in the documentation governing the
Indebtedness being renewed, refunded, refinanced, replaced, defeased or discharged; and 
 (4) such Indebtedness
shall not add guarantors, obligors or security from that which applied to such Indebtedness being refinanced, refunded, renewed or extended, unless such guarantors are or become Guarantors, such obligors are or become Restricted Subsidiaries, or
such security is or becomes Collateral, as the case may be. 
 “Person” means any natural person, corporation,
business trust, joint venture, trust, association, company (whether limited in liability or otherwise), partnership (whether limited in liability or otherwise) or Governmental Authority, or any other entity, in any case, whether acting in a
personal, fiduciary or other capacity. 
 “Private Placement Legend” means the legend set forth in
Section 2.06(g)(1) hereof to be placed on all Notes issued under this Indenture except where otherwise permitted by the provisions of this Indenture. 
 “QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

  
 29 

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

“Refinancing” means the repayment in full of, and the termination of any commitment to make extensions of credit under,
all of the outstanding indebtedness of the Company and its Restricted Subsidiaries. 
 “Registration Rights
Agreement” means the Registration Rights Agreement, dated as of June 5, 2013, between the Company and Jefferies LLC, as representative of the several Initial Purchasers, as such agreement may be amended, modified or supplemented from
time to time and, with respect to any Additional Notes, one or more registration rights agreements between the Company and the other parties thereto, as such agreement(s) may be amended, modified or supplemented from time to time, relating to rights
given by the Company to the purchasers of Additional Notes to register such Additional Notes under the Securities Act. 

“Regulation S” means Regulation S promulgated under the Securities Act. 

“Regulation S Global Note” means a Regulation S Temporary Global Note or Regulation S Permanent Global Note, as
appropriate. 
 “Regulation S Permanent Global Note” means a permanent Global Note in the form of Exhibit A1
hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the
Regulation S Temporary Global Note upon expiration of the Restricted Period. 
 “Regulation S Temporary Global
Note” means a temporary Global Note in the form of Exhibit A2 hereto deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes
initially sold in reliance on Rule 903 of Regulation S. 
 “Related Business Assets” means assets (other than
cash or Cash Equivalents) used or useful in a Permitted Business or securities of a Person that engages in whole or in part in a Permitted Business; provided that any assets received by the Company or a Restricted Subsidiary in exchange for
assets transferred by the Company or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted
Subsidiary. 
 “Repo Agreement” means any of the following: repurchase agreements, reverse repurchase
agreements, sell buy backs and buy sell backs agreements, securities lending and borrowing agreements and any other agreement or transaction similar to those referred to above in this definition. 

“Responsible Officer” means (i) when used with respect to the Trustee, any officer within the corporate trust
department of the Trustee, including any vice president, assistant secretary, senior associate, associate, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time
shall be such officers, respectively, or to whom any corporate trust matter is referred because of such person’s knowledge of and familiarity with the particular subject and who shall have direct responsibility for the administration of this
Indenture, and 

  
 30 

 
(ii) when used with respect to any other Person, any executive officer or financial officer of such Person and any other officer, manager or similar official thereof with significant
responsibility for the administration of the obligations of such Person in respect of this Indenture. 

“Restricted” means, when referring to cash or Cash Equivalents of the Company or any of its Restricted Subsidiaries,
that such cash or Cash Equivalents (a) appears (or would be required to appear) as “restricted” on a consolidated balance sheet of the Company or of any such Restricted Subsidiary (unless such appearance is related to the Indenture
Documents, the Senior Credit Facility Documents or Liens created thereunder), (b) are subject to any Lien in favor of any Person other than (x) the collateral agent for the benefit of the Senior Credit Facility Secured Parties or
(y) to the extent subject to the Intercreditor Agreement, the collateral agent for the benefit of the Holders of the Notes or (c) are not otherwise generally available for use by the Company or such Restricted Subsidiary. 

“Restricted Definitive Note” means a Definitive Note bearing the Private Placement Legend. 

“Restricted Global Note” means a Global Note bearing the Private Placement Legend. 

“Restricted Investment” means an Investment other than a Permitted Investment. 

“Restricted Period” means the 40-day distribution compliance period as defined in Regulation S. 

“Restricted Subsidiary” means, at any time, any direct or indirect Subsidiary of the Company that is not then an
Unrestricted Subsidiary; provided that upon the occurrence of an Unrestricted Subsidiary ceasing to be an Unrestricted Subsidiary, such Subsidiary shall be included in the definition of “Restricted Subsidiary.” 

“Rule 144” means Rule 144 promulgated under the Securities Act. 

“Rule 144A” means Rule 144A promulgated under the Securities Act. 

“Rule 903” means Rule 903 promulgated under the Securities Act. 

“Rule 904” means Rule 904 promulgated under the Securities Act. 

“S&P” means Standard & Poor’s Ratings Group. 

“SEC” means the Securities and Exchange Commission, or any successor agency thereto. 

“Second Lien Obligations” means, collectively, the Notes and any Indebtedness or other Obligations of the Company and
the Guarantors secured by a Lien that is pari passu in Lien priority to the Liens securing the Notes. 

“Securities Act” means the Securities Act of 1933, as amended. 

“Security Agreement” means the Security Agreement dated as of the Escrow Release Date and substantially in the form
attached as Exhibit H hereto, as such agreement may be amended, modified or supplemented from time to time. 
 “Senior
Credit Facility” means the Credit Agreement, to be dated as of the Escrow Release Date, among the Company, the Senior Credit Facility Agent, the financial institutions from time to time party thereto as lenders, and the other parties
thereto, together with the related agreements and instruments thereto (including, without limitation, any notes, guarantee agreements and security documents) and any 

  
 31 

 
other debt facilities or commercial paper facilities with banks or other lenders providing for revolving credit loans, term loans or letters of credit or issuances of debt securities evidenced by
notes, debentures, bonds or similar instruments, in each case, as amended, restated, modified, supplemented, renewed, refunded, replaced (whether upon or after termination or otherwise) or refinanced in whole or in part from time to time that extend
the maturity of, refinance, replace or otherwise restructure (including increasing the amount of available borrowings thereunder or adding Restricted Subsidiaries of the Company as additional borrowers or guarantors thereunder) all or any portion of
the Indebtedness under such agreement or any successor or replacement agreement and whether by the same or any other agent, lender or group of lenders. 
 “Senior Credit Facility Agent” means Jefferies Finance LLC, and its successors and assigns in its capacity as administrative agent and collateral agent pursuant to the Senior Credit
Facility Documents acting for and on behalf of the other Senior Credit Facility Secured Parties and any successor or replacement administrative agent and/or collateral agent. 
 “Senior Credit Facility Debt” means all Obligations under the Senior Credit Facility, including, without limitation, obligations, liabilities and indebtedness of every kind, nature and
description owing by the Company or any Guarantor to any Senior Credit Facility Secured Party, including principal, interest, charges, fees, premiums, reimbursements, indemnities and expenses, however evidenced, whether as principal, surety,
endorser, guarantor or otherwise, arising under any of the Senior Credit Facility Documents, whether now existing or hereafter arising, whether arising before, during or after the initial or any renewal term of the Senior Credit Facility Documents
or after the commencement of any case with respect to the Company or any Guarantor under any bankruptcy law or any other insolvency or liquidation proceeding (and including, without limitation, any principal, interest, fees, costs, expenses and
other amounts, which would accrue and become due but for the commencement of such case, whether or not such amounts are allowed or allowable in whole or in part in such case or similar proceeding), whether direct or indirect, absolute or contingent,
joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured. 
 “Senior
Credit Facility Documents” means, collectively, the Senior Credit Facility and all agreements, documents and instruments at any time executed and/or delivered by the Company or any Guarantor or any other Person to, with or in favor of any
Senior Credit Facility Secured Party in connection therewith or related thereto, as all of the foregoing now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated, refinanced, replaced or restructured (in whole or in
part and including any agreements with, to or in favor of any other lender or group of lenders that at any time refinances, replaces or succeeds to all or any portion of the Senior Credit Facility Debt). 

“Senior Credit Facility Lenders” means, collectively, any Person party to the Senior Credit Facility Documents as lender
(and including any swingline lender and any other lender or group of lenders that at any time refinances, replaces or succeeds to all or any portion of the Senior Credit Facility Debt or is otherwise party to the Senior Credit Facility Documents as
a lender. 
 “Senior Credit Facility Secured Parties” means, collectively, (a) Senior Credit Facility
Agent, (b) the Senior Credit Facility Lenders, (c) the issuing bank or banks of letters of credit or similar instruments under the Senior Credit Facility, (d) each other Person to whom any of the Senior Credit Facility Debt is owed and
(e) the successors, replacements and assigns of each of the foregoing; sometimes being referred to herein individually as a “Senior Credit Facility Secured Party.” 

“Shelf Registration Statement” means the Shelf Registration Statement as defined in the Registration Rights Agreement.

  
 32 

 “Significant Subsidiary” means any Subsidiary that would be a
“significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such Regulation is in effect on the date of this Indenture. 

“Special Tax Reimbursements” means the Federal, state and local tax refunds and/or adjustments received, or to be
received, by the Target or the Company, as applicable with respect to (a) losses of the Target and its Subsidiaries applied to and/or incurred in the 2012 taxable year (the “2012 Tax Losses”), (b) the carry-back of the
2012 Tax Losses to be applied to prior taxable years of the Target and (c) the tax savings from the current use and/or carry forward of the 2012 Tax Losses to future taxable years of the Company. 

“Stated Maturity” means, with respect to any installment of interest or principal on any series of Indebtedness, the
date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the date of this Indenture, and will not include any contingent obligations to repay, redeem or repurchase any such
interest or principal prior to the date originally scheduled for the payment thereof. 
 “Subsidiary” means,
with respect to any Person at any date, (i) any Person 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, (ii) any other corporation, limited liability company, association or other business entity of which securities or other ownership interests representing more than 50% of the voting power of all Equity Interests entitled
(without regard to the occurrence of any contingency) to vote in the election of the Board of Directors thereof are, as of such date, owned, controlled or held by the parent and/or one or more subsidiaries of the parent, (iii) any partnership
(a) the sole general partner or the managing general partner of which is the parent and/or one or more subsidiaries of the parent or (b) the only general partners of which are the parent and/or one or more subsidiaries of the parent and
(iv) any other Person that is otherwise Controlled by the parent and/or one or more subsidiaries of the parent. Unless the context requires otherwise, “Subsidiary” refers to a Subsidiary of the Company. 

“Supplement to the Intercreditor Agreement” means a supplement, if any, to the Intercreditor Agreement, in substantially
the form provided therein, entered into by the Collateral Agent and the Senior Credit Facility Agent. 
 “Swap
Obligation” means, with respect to any Guarantor, any Hedging Obligation to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act.

 “Target” means Knight Capital Group, Inc., a Delaware corporation. 

“Transaction Documents” means the Agreement and Plan of Merger, the Senior Credit Facility Documents, the Indenture
Documents and the documents relating to the Holding Company Reorganization. 
 “Transactions” means,
collectively, the transactions to occur pursuant to, or contemplated by, the Transaction Documents, including (a) the execution, delivery and performance of the Senior Credit Facility Documents and the initial credit extensions thereunder,
(b) the execution, delivery and performance of the Indenture Documents and the issuance and purchase of the Notes, (c) the mergers pursuant to the Agreement and Plan of Merger, (d) the Refinancing, (e) the Holding Company
Reorganization and (f) the payment of all related fees, commission and expenses. 

  
 33 

 “Treasury Rate” means, as of any redemption date, the yield to maturity as
of such redemption date of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two business days
prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to June 15, 2015; provided,
however, that if the period from the redemption date to June 15, 2015, is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year will be used.

 “Trust Indenture Act” or “TIA” means the Trust Indenture Act of 1939, as amended (15 U.S.C.
§§77aaa-77bbbb). 
 “Trustee” means The Bank of New York Mellon until a successor replaces it in
accordance with the applicable provisions of this Indenture and thereafter means the successor serving hereunder. 

“UCC” means the Uniform Commercial Code as in effect from time to time (except as otherwise specified) in any applicable
state or jurisdiction. 
 “Unrestricted” means, when referring to cash or Cash Equivalents of the Company or
its Restricted Subsidiaries, that such cash or Cash Equivalents are not Restricted. 
 “Unrestricted Definitive
Note” means a Definitive Note that does not bear and is not required to bear the Private Placement Legend. 

“Unrestricted Global Note” means a Global Note that does not bear and is not required to bear the Private Placement
Legend. 
 “Unrestricted Subsidiary” means any Subsidiary of the Company that is designated by the Board of
Directors of the Company as an Unrestricted Subsidiary pursuant to a resolution of the Board of Directors, but only to the extent that such Subsidiary: 
 (1) has no Indebtedness other than Non-Recourse Debt; 
 (2) except
as permitted by Section 4.11 hereof, is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary of the Company unless the terms of any such agreement, contract, arrangement or
understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company; 

(3) is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or
indirect obligation (a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and 

(4) has not guaranteed or otherwise directly or indirectly provided credit support for any Indebtedness of the Company or
any of its Restricted Subsidiaries. 
 For the avoidance of doubt, a Subsidiary of an Unrestricted Subsidiary shall be an
Unrestricted Subsidiary. 

  
 34 

 “U.S. Person” means a U.S. Person as defined in Rule 902(k) promulgated
under the Securities Act. 
 “Voting Stock” of any specified Person as of any date means the Capital Stock of
such Person that is at the time entitled to vote in the election of the Board of Directors of such Person. 
 “Weighted
Average Life to Maturity” means, when applied to any Indebtedness at any date, the quotient obtained by dividing (a) the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness multiplied by the amount of such payment by (b) the sum of all such payments. 

“Wholly Owned Domestic Restricted Subsidiary” means a Domestic Restricted Subsidiary that is a Wholly Owned Subsidiary.

 “Wholly Owned Foreign Restricted Subsidiary” means a Foreign Restricted Subsidiary that is a Wholly Owned
Subsidiary. 
 “Wholly Owned Restricted Subsidiary” means a Restricted Subsidiary that is a Wholly Owned
Subsidiary. 
 “Wholly Owned Subsidiary” means, with respect to any Person, a Subsidiary of such Person all of
the outstanding capital stock or other ownership interests of which (other than (x) directors’ qualifying shares and (y) a nominal amount of shares issued to foreign nationals pursuant to applicable Legal Requirements) will at the
time be owned by such Person and/or by one or more Wholly Owned Subsidiaries of such Person. 
 Section 1.02 Other Definitions.

  

			
	 Term
	  	Defined in
Section
		
	 “Affiliate Transaction”
	  	4.11
	 “Asset Sale Offer”
	  	3.09
	 “Authentication Order”
	  	2.02
	 “Change of Control Offer”
	  	4.15
	 “Change of Control Payment”
	  	4.15
	 “Change of Control Payment Date”
	  	4.15
	 “Covenant Defeasance”
	  	8.03
	 “DTC”
	  	2.03
	 “Event of Default”
	  	6.01
	 “Excess Proceeds”
	  	4.10
	 “incur”
	  	4.09
	 “Legal Defeasance”
	  	8.02
	 “Offer Amount”
	  	3.09
	 “Offer Period”
	  	3.09
	 “Paying Agent”
	  	2.03
	 “Permitted Debt”
	  	4.09
	 “Payment Default”
	  	6.01
	 “Purchase Date”
	  	3.09
	 “Registrar”
	  	2.03
	 “Restricted Payments”
	  	4.07

  
 35 

 Section 1.03 Incorporation by Reference of Trust Indenture Act. 

Whenever this Indenture refers to a provision of the TIA, the provision is incorporated by reference in and made a part of this Indenture.

 The following TIA terms used in this Indenture have the following meanings: 

“indenture securities” means the Notes; 
 “indenture security Holder” means a Holder of a Note; 

“indenture to be qualified” means this Indenture; 

“indenture trustee” or “institutional trustee” means the Trustee; and 

“obligor” on the Notes and the Note Guarantees means the Company and the Guarantors, respectively, and any successor
obligor upon the Notes and the Note Guarantees, respectively. 
 All other terms used in this Indenture that are defined by the
TIA, defined by TIA reference to another statute or defined by SEC rule under the TIA have the meanings so assigned to them. 

Section 1.04 Rules of Construction. 
 Unless the context otherwise requires: 
 (1) a term has the meaning
assigned to it; 
 (2) an accounting term not otherwise defined has the meaning assigned to it in accordance with
GAAP; 
 (3) “or” is not exclusive; 

(4) words in the singular include the plural, and in the plural include the singular; 

(5) “will” shall be interpreted to express a command; 

(6) provisions apply to successive events and transactions; and 

(7) references to sections of or rules under the Securities Act will be deemed to include substitute, replacement of
successor sections or rules adopted by the SEC from time to time. 
 ARTICLE 2 

THE NOTES 
 Section 2.01
Form and Dating. 
 (a) General. The Notes and the Trustee’s certificate of authentication will be substantially
in the form of Exhibits A1 and A2 hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication. All Notes issued under this Indenture shall be
issued in denominations of $2,000 and integral multiples of $1,000 in excess thereof. 

  
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 The terms and provisions contained in the Notes will constitute, and are hereby expressly
made, a part of this Indenture and the Company, the Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note
conflicts with the express provisions of this Indenture, the provisions of this Indenture shall govern and be controlling. 

(b) Global Notes. Notes issued in global form will be substantially in the form of Exhibits A1 or A2 hereto (including the Global
Note Legend thereon and the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Notes issued in definitive form will be substantially in the form of Exhibits A1 or A2 hereto (but without the Global Note Legend
thereon and without the “Schedule of Exchanges of Interests in the Global Note” attached thereto). Each Global Note will represent such of the outstanding Notes as will be specified therein and each shall provide that it represents the
aggregate principal amount of outstanding Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as appropriate, to reflect exchanges
and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby will be made by the Trustee or the Custodian, at the direction of the
Trustee, in accordance with instructions given by the Holder thereof as required by Section 2.06 hereof. 
 (c)
Temporary Global Notes. Notes offered and sold in reliance on Regulation S will be issued initially in the form of the Regulation S Temporary Global Note, which will be deposited on behalf of the purchasers of the Notes represented thereby
with the Trustee, at its New York office, as custodian for the Depositary, and registered in the name of the Depositary or the nominee of the Depositary for the accounts of designated agents holding on behalf of Euroclear or Clearstream, duly
executed by the Company and authenticated by the Trustee as hereinafter provided. The Restricted Period will be terminated upon the receipt by the Trustee of: 
 (1) a written certificate from the Depositary, together with copies of certificates from Euroclear and Clearstream certifying that they have received certification of non-United States beneficial
ownership of 100% of the aggregate principal amount of the Regulation S Temporary Global Note (except to the extent of any beneficial owners thereof who acquired an interest therein during the Restricted Period pursuant to another exemption from
registration under the Securities Act and who will take delivery of a beneficial ownership interest in a 144A Global Note or an IAI Global Note bearing a Private Placement Legend, all as contemplated by Section 2.06(b) hereof); and 

(2) an Officers’ Certificate from the Company. 

Following the termination of the Restricted Period with respect to the Regulation S Temporary Global Note, beneficial interests in the
Regulation S Temporary Global Note will be exchanged for beneficial interests in the Regulation S Permanent Global Note pursuant to the Applicable Procedures. Simultaneously with the authentication of the Regulation S Permanent Global Note, the
Trustee will cancel the Regulation S Temporary Global Note. The aggregate principal amount of the Regulation S Temporary Global Note and the Regulation S Permanent Global Note may from time to time be increased or decreased by adjustments made on
the records of the Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided. 
 (3) Euroclear and Clearstream Procedures Applicable. The provisions of the “Operating Procedures of the Euroclear System” and “Terms and Conditions Governing Use of Euroclear”
and the “General Terms and Conditions of Clearstream Banking” and “Customer Handbook” of Clearstream will be applicable to transfers of beneficial interests in the Regulation S Temporary Global Note and the Regulation S Permanent
Global Note that are held by Participants through Euroclear or Clearstream. 

  
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 Section 2.02 Execution and Authentication. 

One Officer must sign the Notes for the Company by manual or facsimile signature. 

If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note will nevertheless be
valid. 
 A Note will not be valid until authenticated by the manual signature of the Trustee. The signature will be conclusive
evidence that the Note has been authenticated under this Indenture. 
 The Trustee will, upon receipt of a written order of the
Company signed by one Officer (an “Authentication Order”), an Officers’ Certificate and an Opinion of Counsel, authenticate Notes for original issue that may be validly issued under this Indenture, including any Additional
Notes. The aggregate principal amount of Notes outstanding at any time may not exceed the aggregate principal amount of Notes authorized for issuance by the Company pursuant to one or more Authentication Orders, except as provided in
Section 2.07 hereof. 
 The Trustee may appoint an authenticating agent acceptable to the Company to authenticate Notes. An
authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with
Holders or an Affiliate of the Company. 
 Section 2.03 Registrar and Paying Agent. 

The Company will maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(“Registrar”) and an office or agency where Notes may be presented for payment (“Paying Agent”). The Registrar will keep a register of the Notes and of their transfer and exchange. The Company may appoint one or
more co-registrars and one or more additional paying agents. The term “Registrar” includes any co-registrar and the term “Paying Agent” includes any additional paying agent. The Company may change any Paying Agent or Registrar
without notice to any Holder. The Company will notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Company fails to appoint or maintain another entity as Registrar or Paying Agent, the Trustee
shall act as such. 
 The Company initially appoints The Depository Trust Company (“DTC”) to act as Depositary
with respect to the Global Notes. 
 The Company initially appoints the Trustee to act as the Registrar and Paying Agent and to
act as Custodian with respect to the Global Notes. 
 Section 2.04 Paying Agent to Hold Money in Trust. 

The Company will require each Paying Agent other than the Trustee to agree in writing that the Paying Agent will hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium or Additional Interest, if any, or interest on the Notes, and will notify the Trustee of any default by the Company in making any such
payment. While any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Company at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon

  
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payment over to the Trustee, the Paying Agent (if other than the Company or a Subsidiary) will have no further liability for the money. If the Company or a Subsidiary acts as Paying Agent, it
will segregate and hold in a separate trust fund for the benefit of the Holders all money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Company, the Trustee will serve as Paying Agent for the Notes.

 Section 2.05 Holder Lists. 
 The Trustee will preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of all Holders and shall otherwise comply with TIA §
312(a). If the Trustee is not the Registrar, the Company will furnish to the Trustee at least seven Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such
date as the Trustee may reasonably require of the names and addresses of the Holders of Notes and the Company shall otherwise comply with TIA § 312(a). 
 Section 2.06 Transfer and Exchange. 
 (a) Transfer and Exchange of
Global Notes. A Global Note may not be transferred except as a whole by the Depositary to a nominee of the Depositary, by a nominee of the Depositary to the Depositary or to another nominee of the Depositary, or by the Depositary or any such
nominee to a successor Depositary or a nominee of such successor Depositary. All Global Notes will be exchanged by the Company for Definitive Notes if: 
 (1) DTC (a) notifies the Company that it is unwilling or unable to continue as depositary for the Global Notes or (b) has ceased to be a clearing agency registered under the Exchange Act and, in
either case, the Company fails to appoint a successor depositary; 
 (2) the Company, at its option, notifies the
Trustee in writing that it elects to cause the issuance of the Definitive Notes; provided that in no event shall the Regulation S Temporary Global Note be exchanged by the Company for Definitive Notes prior to (a) the expiration of the
Restricted Period and (b) the receipt by the Registrar of any certificates required under the provisions of Regulation S; or 
 (3) there has occurred and is continuing a Default or Event of Default with respect to the Notes. 
 Upon the occurrence of either of the preceding events in (1) or (2) above, Definitive Notes shall be issued in such names as the Depositary shall instruct the Trustee. Global Notes also may be
exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10 hereof. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section 2.06 or
Section 2.07 or 2.10 hereof, shall be authenticated and delivered in the form of, and shall be, a Global Note. A Global Note may not be exchanged for another Note other than as provided in this Section 2.06(a), however, beneficial
interests in a Global Note may be transferred and exchanged as provided in Section 2.06(b), (c) or (f) hereof. 

  
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 (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer
and exchange of beneficial interests in the Global Notes will be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes will be subject
to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (1) or (2) below, as
applicable, as well as one or more of the other following subparagraphs, as applicable: 
 (1) Transfer of
Beneficial Interests in the Same Global Note. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with
the transfer restrictions set forth in the Private Placement Legend; provided, however, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation S Temporary Global Note may not be made
to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in
an Unrestricted Global Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.06(b)(1). 

(2) All Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section 2.06(b)(1) above, the transferor of such beneficial interest must deliver to the Registrar either: 

(A) both: 
 (i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a
beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and 
 (ii) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase; or 

(B) both: 
 (i) a written order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in
an amount equal to the beneficial interest to be transferred or exchanged; and 
 (ii) instructions given by the
Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1) above; 

provided that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in the Regulation
S Temporary Global Note prior to (A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903 under the Securities Act. 

Upon consummation of an Exchange Offer by the Company in accordance with Section 2.06(f) hereof, the requirements of this Section 2.06(b)(2)
shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial interests in the Restricted Global Notes. Upon satisfaction of all of the
requirements for 

  
 40 

 
transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the principal
amount of the applicable Global Note(s) pursuant to Section 2.06(h) hereof. 
 (3) Transfer of Beneficial
Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer
complies with the requirements of Section 2.06(b)(2) above and the Registrar receives the following: 
 (A)
if the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Temporary Global Note
or the Regulation S Permanent Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 

(C) if the transferee will take delivery in the form of a beneficial interest in the IAI Global Note, then the transferor
must deliver a certificate in the form of Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 

(4) Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an
Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a
beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 2.06(b)(2) above and: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the holder of the beneficial interest to be transferred, in the case of an
exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who
is an affiliate (as defined in Rule 144) of the Company; 
 (B) such transfer is effected pursuant to the Shelf
Registration Statement in accordance with the Registration Rights Agreement; 
 (C) such transfer is effected by
a Broker-Dealer pursuant to the Exchange Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following: 
 (i) if the holder of
such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications
in item (1)(a) thereof; or 

  
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 (ii) if the holder of such beneficial interest in a Restricted Global Note
proposes to transfer such beneficial interest to a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit B hereto, including the
certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so
requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer
contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of an
Authentication Order in accordance with Section 2.02 hereof, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred
pursuant to subparagraph (B) or (D) above. 
 Beneficial interests in an Unrestricted Global Note cannot be exchanged
for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 

(c) Transfer or Exchange of Beneficial Interests for Definitive Notes. 

(1) Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes. If any holder of a beneficial
interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then,
upon receipt by the Registrar of the following documentation: 
 (A) if the holder of such beneficial interest
in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 

(B) if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect
set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such beneficial
interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption
from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and Opinion of
Counsel required by item (3) thereof, if applicable; 

  
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 (F) if such beneficial interest is being transferred to the Company or any
of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the
certifications in item (3)(c) thereof, 
 the Trustee shall cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(h) hereof, and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any
Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any
Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section 2.06(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein.

 (2) Beneficial Interests in Regulation S Temporary Global Note to Definitive Notes. Notwithstanding
Sections 2.06(c)(1)(A) and (C) hereof, a beneficial interest in the Regulation S Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior to
(A) the expiration of the Restricted Period and (B) the receipt by the Registrar of any certificates required pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act, except in the case of a transfer pursuant to an exemption from the
registration requirements of the Securities Act other than Rule 903 or Rule 904. 
 (3) Beneficial Interests
in Restricted Global Notes to Unrestricted Definitive Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a
Person who takes delivery thereof in the form of an Unrestricted Definitive Note only if: 
 (A) such exchange
or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the
applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Registration Statement
in accordance with the Registration Rights Agreement; or 

  
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 (D) the Registrar receives the following: 

(i) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(ii) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest
to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 (4) Beneficial Interests in
Unrestricted Global Notes to Unrestricted Definitive Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a
Person who takes delivery thereof in the form of a Definitive Note, then, upon satisfaction of the conditions set forth in Section 2.06(b)(2) hereof, the Trustee will cause the aggregate principal amount of the applicable Global Note to be
reduced accordingly pursuant to Section 2.06(h) hereof, and the Company will execute and the Trustee will authenticate and deliver to the Person designated in the instructions a Definitive Note in the appropriate principal amount. Any
Definitive Note issued in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest requests
through instructions to the Registrar from or through the Depositary and the Participant or Indirect Participant. The Trustee will deliver such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued
in exchange for a beneficial interest pursuant to this Section 2.06(c)(4) will not bear the Private Placement Legend. 

(d) Transfer and Exchange of Definitive Notes for Beneficial Interests. 

(1) Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes. If any Holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such
Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule 144A, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 

  
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 (C) if such Restricted Definitive Note is being transferred to a Non-U.S.
Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements
of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

(E) if such Restricted Definitive Note is being transferred to an Institutional Accredited Investor in reliance on an
exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and
Opinion of Counsel required by item (3) thereof, if applicable; 
 (F) if such Restricted Definitive Note
is being transferred to the Company or any of its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 

(G) if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the
Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 
 the Trustee will cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case of clause (A) above, the appropriate Restricted Global Note,
in the case of clause (B) above, the 144A Global Note, in the case of clause (C) above, the Regulation S Global Note, and in all other cases, the IAI Global Note. 

(2) Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
only if: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the
Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in
the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 
 (B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights Agreement; 

(C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Registration Statement in accordance with the
Registration Rights Agreement; or 
 (D) the Registrar receives the following: 

(i) if the Holder of such Definitive Notes proposes to exchange such Notes for a beneficial interest in the Unrestricted
Global Note, a certificate from Notes for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

  
 45 

 (ii) if the Holder of such Definitive Notes proposes to transfer such Notes
to a Person who shall take delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no
longer required in order to maintain compliance with the Securities Act. 
 Upon satisfaction of the conditions
of any of the subparagraphs in this Section 2.06(d)(2), the Trustee will cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. 

(3) Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee will cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. 

If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraphs
(2)(B), (2)(D) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate
one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. 
 (e) Transfer and Exchange of Definitive Notes for Definitive Notes. Upon request by a Holder of Definitive Notes and such Holder’s compliance with the provisions of this Section 2.06(e),
the Registrar will register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a
written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder must provide any additional certifications, documents and
information, as applicable, required pursuant to the following provisions of this Section 2.06(e). 
 (1)
Restricted Definitive Notes to Restricted Definitive Notes. Any Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar
receives the following: 
 (A) if the transfer will be made pursuant to Rule 144A, then the transferor must
deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

  
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 (B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the
transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (2) thereof; and 
 (C) if the transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto,
including the certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 
 (2) Restricted Definitive Notes to Unrestricted Definitive Notes. Any Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a
Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if: 
 (A) such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) any such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) any such transfer is effected by a Broker-Dealer pursuant to the Exchange Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (i) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted
Definitive Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 
 (ii) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such
Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case set
forth in this subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on
transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 
 (3) Unrestricted Definitive Notes to Unrestricted Definitive Notes. A Holder of Unrestricted Definitive Notes may transfer such Notes to a Person who takes delivery thereof in the form of an
Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the instructions from the Holder thereof. 

  
 47 

 (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the
Registration Rights Agreement, the Company will issue and, upon receipt of an Authentication Order in accordance with Section 2.02 hereof, the Trustee will authenticate: 

(1) one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of the beneficial
interests in the Restricted Global Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that (A) they are not Broker-Dealers, (B) they are not participating in a distribution of
the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company; and 
 (2)
Unrestricted Definitive Notes in an aggregate principal amount equal to the principal amount of the Restricted Definitive Notes accepted for exchange in the Exchange Offer by Persons that certify in the applicable Letters of Transmittal that
(A) they are not Broker-Dealers, (B) they are not participating in a distribution of the Exchange Notes and (C) they are not affiliates (as defined in Rule 144) of the Company. 

Concurrently with the issuance of such Notes, the Trustee will cause the aggregate principal amount of the applicable Restricted Global
Notes to be reduced accordingly, and the Company will execute and the Trustee will authenticate and deliver to the Persons designated by the Holders of Definitive Notes so accepted Unrestricted Definitive Notes in the appropriate principal amount.

 (g) Legends. The following legends will appear on the face of all Global Notes and Definitive Notes issued under this
Indenture unless specifically stated otherwise in the applicable provisions of this Indenture. 
 (1) Private
Placement Legend. 
 (A) Except as permitted by subparagraph (B) below, each Global Note and each
Definitive Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 

“THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. THE HOLDER OF THIS
SECURITY, BY ITS ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE
TRANSACTION WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR”
WITHIN THE MEANING OF RULE 501(A)(1), (2) OR (7) UNDER THE SECURITIES ACT OR IS ACQUIRING THE NOTES FOR THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF NOTES OF $250,000 OR
(D) IT IS ACQUIRING THIS SECURITY PURSUANT TO A VALID REGISTRATION STATEMENT OR IN ANOTHER TRANSACTION EXEMPT FROM REGISTRATION, AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY WITHIN THE YEAR AFTER THE ORIGINAL ISSUANCE
OF THIS SECURITY ONLY (A) TO THE ISSUER OR ANY SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 

  
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144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A
QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER
THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO IT IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (D) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE MEANING OF RULE 501(A)(1), (2) OR (7) UNDER THE
SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE
SECURITIES ACT, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF NOTES OF $250,000, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT OR (F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE ISSUER’S AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSE (F) TO REQUIRE THE DELIVERY OF AN
OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE OF THIS SECURITY COMPLETED AND DELIVERED BY THE TRANSFEROR
TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH IN RULE 144 UNDER THE SECURITIES ACT. NO REPRESENTATION CAN
BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT FOR RESALE OF THE SECURITY EVIDENCED HEREBY.” 
 (B) Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraphs (b)(4), (c)(3), (c)(4), (d)(2), (d)(3), (e)(2), (e)(3) or (f) of this Section 2.06 (and all
Notes issued in exchange therefor or substitution thereof) will not bear the Private Placement Legend. 
 (2)
Global Note Legend. Each Global Note will bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE
DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH
NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE
TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF
THE 

  
 49 

 
DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 

(3) Regulation S Temporary Global Note Legend. The Regulation S Temporary Global Note will bear a Legend in
substantially the following form: 
 “THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES
GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN). NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST
HEREON.” 
 (4) Applicable Procedures for Removal of Legends. 

After the expiration of the applicable holding period referred to under Rule 144(d)(1) (taking into account the provisions of Rule 144(d)
under the Securities Act, if applicable) following the date of this Indenture, Restricted Definitive Notes and beneficial interests in Restricted Global Notes may be exchanged for beneficial interests in an Unrestricted Global Note. Any Restricted
Definitive Note or Restricted Global Note (or security issued in exchange or substitution therefor) as to which such restrictions on transfer shall have expired in accordance with their terms may, upon surrender of such Restricted Definitive Note or
Restricted Global Note for exchange to the Registrar in accordance with the provisions of this Article 2, be exchanged for a new Note or Notes, of like tenor and aggregate principal amount, which shall not bear the Private Placement Legend. To
accomplish the exchange of beneficial interests in any Restricted Global Note for beneficial interests in an Unrestricted Global Note following the expiration referred to above, the Company may, without requiring any action or consent by the Holders
of such Restricted Global Note: 
 (A) instruct the Trustee in writing to remove the Private Placement Legend
from the Notes, and upon such instruction the Private Placement Legend shall be deemed removed from any Notes without further action on the part of Holders; 
 (B) notify the Holders that the Private Placement Legend has been removed or deemed removed; and 
 (C) instruct the Depositary to change the CUSIP number for the Notes to the unrestricted CUSIP number for the Notes; 
 provided that, if the Trustee so requests, the Company will deliver an Opinion of Counsel in form reasonably acceptable to the Trustee to the effect that such exchange is in compliance with the
Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. 

  
 50 

 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial
interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note will be returned to or retained and canceled by the
Trustee in accordance with Section 2.11 hereof. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest
in another Global Note or for Definitive Notes of the same series, the principal amount of Notes represented by such Global Note will be reduced accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at
the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global
Note will be increased accordingly and an endorsement will be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. 

(i) General Provisions Relating to Transfers and Exchanges. 

(1) To permit registrations of transfers and exchanges, the Company will execute and the Trustee will authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order, Officers’ Certificate and Opinion of Counsel in accordance with Section 2.02 hereof. 

(2) No service charge will be made to a Holder of a beneficial interest in a Global Note or to a Holder of a Definitive
Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar
governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 3.09, 4.10, 4.15 and 9.05 hereof. 
 (3) The Registrar will not be required to register the transfer of or exchange of any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part.

 (4) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes
or Definitive Notes will be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange.

 (5) Neither the Registrar nor the Company will be required: 

(A) to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business
15 days before the day of any selection of Notes for redemption under Section 3.02 hereof and ending at the close of business on the day of selection; 
 (B) to register the transfer of or to exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part; 

(C) to register the transfer of or to exchange a Note between a record date and the next succeeding interest payment
date; or 
 (D) to register the transfer of any Notes other than Notes having a principal amount of $2,000 or
integral multiples of $1,000 in excess thereof. 

  
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 (6) Prior to due presentment for the registration of a transfer of any Note,
the Trustee, any Agent and the Company may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of and interest on such Notes and for all other purposes,
and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 
 (7) The Trustee
will authenticate Global Notes and Definitive Notes in accordance with the provisions of Section 2.02 hereof. 
 (8) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this Section 2.06 to effect a registration of transfer or exchange may be submitted
by facsimile. 
 (9) The Trustee shall have no obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including any transfers between or among Participants or beneficial owners of interests in
any Global Note) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine
substantial compliance as to form with the express requirements hereof. 
 (10) Neither the Trustee nor any Agent
shall have any responsibility for any actions taken or not taken by the Depositary. 
 Section 2.07 Replacement Notes. 

If any mutilated Note is surrendered to the Trustee or the Company and the Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, the Company will issue and the Trustee, upon receipt of an Authentication Order, will authenticate a replacement Note if the Trustee’s requirements are met. If required by the Trustee or the Company, an
indemnity bond must be supplied by the Holder that is sufficient in the judgment of the Trustee and the Company to protect the Company, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is
replaced. The Company may charge for its expenses in replacing a Note. 
 Every replacement Note is an additional obligation of
the Company and will be entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. 
 Section 2.08 Outstanding Notes. 
 The Notes outstanding at any time are
all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those
described in this Section 2.08 as not outstanding. Except as set forth in Section 2.09 hereof, a Note does not cease to be outstanding because the Company or an Affiliate of the Company holds the Note; however, Notes held by the Company or
a Subsidiary of the Company shall not be deemed to be outstanding for purposes of Section 3.07(a) hereof. 

  
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 If a Note is replaced pursuant to Section 2.07 hereof, it ceases to be outstanding
unless the Trustee receives proof satisfactory to it that the replaced Note is held by a protected purchaser. 
 If the
principal amount of any Note is considered paid under Section 4.01 hereof, it ceases to be outstanding and interest on it ceases to accrue. 
 If the Paying Agent (other than the Company, a Subsidiary or an Affiliate of any thereof) holds, on a redemption date or maturity date, money sufficient to pay Notes payable on that date, then on and
after that date such Notes will be deemed to be no longer outstanding and will cease to accrue interest. 
 Section 2.09 Treasury Notes.

 In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or
consent, Notes owned by the Company or any Guarantor, or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any Guarantor, will be considered as though not outstanding,
except that for the purposes of determining whether the Trustee will be protected in relying on any such direction, waiver or consent, only Notes that the Trustee knows are so owned will be so disregarded. 

Section 2.10 Temporary Notes. 
 Until certificates representing Notes are ready for delivery, the Company may prepare and the Trustee, upon receipt of an Authentication Order, will authenticate temporary Notes. Temporary Notes will be
substantially in the form of certificated Notes but may have variations that the Company considers appropriate for temporary Notes and as may be reasonably acceptable to the Trustee. Without unreasonable delay, the Company will prepare and the
Trustee will authenticate definitive Notes in exchange for temporary Notes of the same series. 
 Holders of temporary Notes
will be entitled to all of the benefits of this Indenture. 
 Section 2.11 Cancellation. 

The Company at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent will forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else will cancel all Notes surrendered for registration of transfer, exchange, payment, replacement or cancellation and will destroy canceled Notes
(subject to the record retention requirement of the Exchange Act). Certification of the destruction of all canceled Notes will be delivered to the Company. The Company may not issue new Notes to replace Notes that it has paid or that have been
delivered to the Trustee for cancellation. 
 Section 2.12 Defaulted Interest. 

If the Company defaults in a payment of interest on the Notes, it will pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest, to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes and in Section 4.01 hereof. The Company will notify the Trustee in writing of
the amount of defaulted interest proposed to be paid on each Note and the date of the proposed payment. The Company will fix or cause to be fixed each such special record date and payment date; provided that no such special record date may be
less than 10 days prior to the related payment date for such defaulted interest. At least 15 days before the special record date, the Company (or, upon the written request of the Company, the Trustee in the name and at the expense of the Company)
will mail or cause to be mailed to Holders a notice that states the special record date, the related payment date and the amount of such interest to be paid. 

  
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 Section 2.13 CUSIP Numbers. 

The Company in issuing the Notes may use “CUSIP” numbers (if then generally in use), and, if so, the Trustee shall use
“CUSIP” numbers in notices of redemption as a convenience to Holders; provided that any such notice may state that no representation is made as to the correctness or accuracy of such numbers either as printed on the Notes or as
listed in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the Notes. The Company will promptly notify the Trustee in writing of any change in the “CUSIP” numbers. 

ARTICLE 3 

REDEMPTION AND PREPAYMENT 

Section 3.01 Notices to Trustee. 
 If the Company elects to redeem Notes pursuant to the optional redemption provisions of Section 3.07 hereof, it must furnish to the Trustee, at least 45 days (or a shorter period with the consent of
the Trustee) but not more than 60 days before a redemption date, an Officers’ Certificate setting forth: 

(1) the clause of this Indenture pursuant to which the redemption shall occur; 

(2) the redemption date; 
 (3) the principal amount of Notes to be redeemed; and 
 (4) the
redemption price. 
 Section 3.02 Selection of Notes to Be Redeemed or Purchased. 

If less than all of the Notes are to be redeemed at any time, the Trustee (or DTC) will select Notes for redemption on a pro rata basis,
by lot or other method subject to the rules and procedures of DTC, unless otherwise required by law or applicable stock exchange or depositary requirements. 
 In the event of partial redemption or purchase by lot, the particular Notes to be redeemed or purchased will be selected, unless otherwise provided herein, not less than 30 nor more than 60 days prior to
the redemption or purchase date from the outstanding Notes not previously called for redemption or purchase. 
 The Trustee will
promptly notify the Company in writing of the Notes selected for redemption or purchase and, in the case of any Note selected for partial redemption or purchase, the principal amount thereof to be redeemed or purchased. No Notes of $2,000 or less
can be redeemed in part. Notes and portions of Notes selected will be in amounts of $2,000 or whole multiples of $1,000 in excess thereof; except that if all of the Notes of a Holder are to be redeemed or purchased, the entire outstanding amount of
Notes held by such Holder, even if not a multiple of $1,000, shall be redeemed or purchased. Except as provided in the preceding sentence, provisions of this Indenture that apply to Notes called for redemption or purchase also apply to portions of
Notes called for redemption or purchase. 

  
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 Section 3.03 Notice of Redemption. 

Subject to the provisions of Section 3.09 hereof, notices of redemption will be mailed by electronic transmission (for Global Notes)
or first class mail at least 30 but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at its registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the
notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of this Indenture pursuant to Articles 8 or 12 hereof. 
 The notice will identify the Notes to be redeemed and will state: 

(1) the redemption date; 
 (2) the redemption price; 
 (3) if any Note is being redeemed in
part, the portion of the principal amount of such Note to be redeemed and that, after the redemption date upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion will be issued upon cancellation of the
original Note; 
 (4) the name and address of the Paying Agent; 

(5) that Notes called for redemption must be surrendered to the Paying Agent to collect the redemption price; 

(6) that, unless the Company defaults in making such redemption payment, interest on Notes called for redemption ceases to
accrue on and after the redemption date; 
 (7) the paragraph of the Notes and/or Section of this Indenture
pursuant to which the Notes called for redemption are being redeemed; and 
 (8) that no representation is made
as to the correctness or accuracy of the CUSIP number, if any, listed in such notice or printed on the Notes. 
 At the
Company’s request, the Trustee will give the notice of redemption in the Company’s name and at its expense; provided, however, that the Company has delivered to the Trustee, at least 45 days (or a shorter period with the
consent of the Trustee) prior to the redemption date, an Officers’ Certificate requesting that the Trustee give such notice and setting forth the information to be stated in such notice as provided in the preceding paragraph. 

Section 3.04 Effect of Notice of Redemption. 
 Once notice of redemption is mailed in accordance with Section 3.03 hereof, Notes called for redemption become irrevocably due and payable on the redemption date at the redemption price. A notice of
redemption may not be conditional. 
 Section 3.05 Deposit of Redemption or Purchase Price. 

One Business Day prior to the redemption or purchase date, the Company will deposit with the Trustee or with the Paying Agent money
sufficient to pay the redemption or purchase price of, and accrued interest and Additional Interest, if any, on, all Notes to be redeemed or purchased on that date. 

  
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The Trustee or the Paying Agent will promptly return to the Company any money deposited with the Trustee or the Paying Agent by the Company in excess of the amounts necessary to pay the
redemption or purchase price of, and accrued interest and Additional Interest, if any, on, all Notes to be redeemed or purchased. 
 If the Company complies with the provisions of the preceding paragraph, on and after the redemption or purchase date, interest will cease to accrue on the Notes or the portions of Notes called for
redemption or purchase. If a Note is redeemed or purchased on or after an interest record date but on or prior to the related interest payment date, then any accrued and unpaid interest shall be paid to the Person in whose name such Note was
registered at the close of business on such record date. If any Note called for redemption or purchase is not so paid upon surrender for redemption or purchase because of the failure of the Company to comply with the preceding paragraph, interest
shall be paid on the unpaid principal, from the redemption or purchase date until such principal is paid, and to the extent lawful on any interest not paid on such unpaid principal, in each case at the rate provided in the Notes and in
Section 4.01 hereof. 
 Section 3.06 Notes Redeemed or Purchased in Part. 

Upon surrender of a Note that is redeemed or purchased in part, the Company will issue and, upon receipt of an Authentication Order,
Officers’ Certificate and Opinion of Counsel, the Trustee will authenticate for the Holder at the expense of the Company a new Note equal in principal amount to the unredeemed or unpurchased portion of the Note surrendered. 

Section 3.07 Optional Redemption. 
 (a) At any time prior to June 15, 2015, the Company may on any one or more occasions redeem up to 35% of the aggregate principal amount of Notes issued under this Indenture (calculated after giving
effect to the issuance of any Additional Notes) upon not less than 30 nor more than 60 days’ prior notice, at a redemption price of 108.250% of the principal amount, plus accrued and unpaid interest and Additional Interest, if any, to the
redemption date (subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings of the Company; provided that:

 (1) at least 65% of the aggregate principal amount of Notes (calculated after giving effect to the original
issuance of any Additional Notes) (excluding Notes held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and 

(2) the redemption occurs within 90 days of the date of the closing of such Equity Offering. 

(b) At any time prior to June 15, 2015, the Company may, on one or more occasions, also redeem all or a part of the Notes, upon not
less than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any, to the date of
redemption, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 
 (c) Except as set forth in Section 3.07(a) or (b), the Notes will not be redeemable at the Company’s option prior to June 15, 2015. 

  
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 (d) On or after June 15, 2015, the Company may redeem all or a part of the Notes upon
not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the Notes redeemed, to the applicable
redemption date, if redeemed during the twelve-month period beginning on June 15 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment date:

  

					
	 Year
	  	Percentage	 
	 2015
	  	 	104.125	% 
	 2016
	  	 	102.063	% 
	 2017 and thereafter
	  	 	100.000	% 

 If an optional redemption date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest will be paid to the Person in whose name the Notes is registered at the close of business on such record. 
 Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable redemption date. 

(e) Any redemption pursuant to this Section 3.07 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof.

 Section 3.08 Mandatory Redemption. 
 (a) Except as set forth in Section 3.08(b), the Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes or make an offer to purchase the Notes.

 (b) On the second Business Day following the Escrow Termination Date, the Company shall redeem all of the Notes at a
redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Trustee will release to the Company any Escrow Property remaining after redemption of the Notes and
payment of all reasonable fees and expenses. 
 Section 3.09 Offer to Purchase by Application of Excess Proceeds. 

In the event that, pursuant to Section 4.10 hereof, the Company is required to commence an offer to all Holders to purchase Notes (an
“Asset Sale Offer”), it will follow the procedures specified below. 
 The Asset Sale Offer shall be made to
all Holders and all holders of Second Lien Obligations containing provisions similar to those set forth in this Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets. The Asset Sale Offer will remain open for a
period of at least 20 Business Days following its commencement and not more than 30 Business Days, except to the extent that a longer period is required by applicable law (the “Offer Period”). No later than three Business Days after
the termination of the Offer Period (the “Purchase Date”), the Company will apply all Excess Proceeds (the “Offer Amount”) to the purchase of Notes and such other Second Lien Obligations (on a pro rata basis,
if applicable) or, if less than the Offer Amount has been tendered, all Notes and other Indebtedness tendered in response to the Asset Sale Offer. Payment for any Notes so purchased will be made in the same manner as interest payments are made.

 If the Purchase Date is on or after an interest record date and on or before the related interest payment date, any accrued
and unpaid interest and Additional Interest, if any, will be paid to the Person in whose name a Note is registered at the close of business on such record date, and no additional interest will be payable to Holders who tender Notes pursuant to the
Asset Sale Offer. 

  
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 Upon the commencement of an Asset Sale Offer, the Company will send, by first class mail, a
notice to the Trustee and each of the Holders. The notice will contain all instructions and materials necessary to enable such Holders to tender Notes pursuant to the Asset Sale Offer. The notice, which will govern the terms of the Asset Sale Offer,
will state: 
 (1) that the Asset Sale Offer is being made pursuant to this Section 3.09 and
Section 4.10 hereof and the length of time the Asset Sale Offer will remain open; 
 (2) the Offer Amount,
the purchase price and the Purchase Date; 
 (3) that any Note not tendered or accepted for payment will continue
to accrue interest; (4) that, unless the Company defaults in making such payment, any Note accepted for payment pursuant to the Asset Sale Offer will cease to accrue interest after the Purchase Date; 

(5) that Holders electing to have a Note purchased pursuant to an Asset Sale Offer may elect to have Notes purchased in
minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof only; 
 (6) that Holders
electing to have Notes purchased pursuant to any Asset Sale Offer will be required to surrender the Note, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to
the Company, a Depositary, if appointed by the Company, or a Paying Agent at the address specified in the notice at least three days before the Purchase Date; 
 (7) that Holders will be entitled to withdraw their election if the Company, the Depositary or the Paying Agent, as the case may be, receives, not later than the expiration of the Offer Period, a
telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Note the Holder delivered for purchase and a statement that such Holder is withdrawing his election to have such Note purchased;

 (8) that, if the aggregate principal amount of Notes and other Second Lien Obligations surrendered by holders
thereof exceeds the Offer Amount, the Company will select the Notes and other Second Lien Obligations to be purchased on a pro rata basis based on the principal amount of Notes and such other Second Lien Obligations surrendered (with such
adjustments as may be deemed appropriate by the Company so that only Notes in minimum denominations of $2,000, or integral multiples of $1,000 in excess thereof, will be purchased); and 

(9) that Holders whose Notes were purchased only in part will be issued new Notes equal in principal amount to the
unpurchased portion of the Notes surrendered (or transferred by book-entry transfer). 
 On or before the Purchase Date, the
Company will, to the extent lawful, accept for payment, on a pro rata basis to the extent necessary, the Offer Amount of Notes or portions thereof tendered pursuant to the Asset Sale Offer, or if less than the Offer Amount has been tendered,
all Notes tendered, and will deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ 

  
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Certificate stating that such Notes or portions thereof were accepted for payment by the Company in accordance with the terms of this Section 3.09. The Company, the Depositary or the Paying
Agent, as the case may be, will promptly (but in any case not later than five days after the Purchase Date) mail or deliver to each tendering Holder an amount equal to the purchase price of the Notes tendered by such Holder and accepted by the
Company for purchase, and the Company will promptly issue a new Note, and the Trustee, upon written request from the Company, will authenticate and mail or deliver (or cause to be transferred by book entry) such new Note to such Holder, in a
principal amount equal to any unpurchased portion of the Note surrendered. Any Note not so accepted shall be promptly mailed or delivered by the Company to the Holder thereof. The Company will publicly announce the results of the Asset Sale Offer on
the Purchase Date. 
 Other than as specifically provided in this Section 3.09, any purchase pursuant to this
Section 3.09 shall be made pursuant to the provisions of Sections 3.01 through 3.06 hereof. 
 ARTICLE 4 

COVENANTS 
 Section 4.01
Payment of Notes. 
 The Company will pay or cause to be paid the principal of and premium, if any, interest and Additional
Interest, if any, on, the Notes on the dates and in the manner provided in the Notes. Principal, premium, if any, and interest and Additional Interest, if any, will be considered paid on the date due if the Paying Agent, if other than the Company or
a Subsidiary thereof, holds as of 10:00 a.m. Eastern Time on the due date money deposited by the Company in immediately available funds and designated for and sufficient to pay all principal, premium, if any, and interest then due. The Company will
pay all Additional Interest, if any, in the same manner on the dates and in the amounts set forth in the Registration Rights Agreement. 
 The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal at the rate equal to 1% per annum in excess of the then applicable
interest rate on the Notes to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest (without regard to any applicable grace
period) at the same rate to the extent lawful. 
 Section 4.02 Maintenance of Office or Agency. 

The Company will maintain in the Borough of Manhattan, the City of New York, an office or agency (which may be an office of the Trustee or
an affiliate of the Trustee, Registrar or co-registrar) where Notes may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Notes and this Indenture may be served. The
Company will give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Company fails to maintain any such required office or agency or fails to furnish the Trustee with
the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate Trust Office of the Trustee. 
 The Company may also from time to time designate one or more other offices or agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such
designations; provided, however, that no such designation or rescission will in any manner relieve the Company of its obligation to maintain an office or agency in the Borough of Manhattan, the City of New York for such purposes. The
Company will give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. 

  
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 The Company hereby designates the Corporate Trust Office of the Trustee as one such office
or agency of the Company in accordance with Section 2.03 hereof. 
 Section 4.03 Reports. 

(a) Whether or not required by the rules and regulations of the SEC, so long as any Notes are outstanding, the Company will furnish to the
Holders of Notes and the Trustee (or file with the SEC for public availability), within the time periods specified in the SEC’s rules and regulations: 
 (1) all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the Company were required to file reports; and 

(2) all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to
file such reports. 
 (b) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then the quarterly
and annual financial information required by paragraph (a) of this Section 4.03 will include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in Management’s
Discussion and Analysis of Financial Condition and Results of Operations, of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the
Unrestricted Subsidiaries of the Company. 
 (c) The availability of the foregoing materials on the SEC’s EDGAR service (or
any successor thereto) shall be deemed to satisfy the Company’s delivery obligation. 
 (d) All such reports will be
prepared in all material respects in accordance with all of the rules and regulations applicable to such reports. Each annual report on Form 10-K will include a report on the Company’s consolidated financial statements by the Company’s
certified independent accountants. In addition, following the consummation of the Exchange Offer, the Company will file a copy of each of the reports referred to in Section 4.03(a)(1) and (2) with the SEC for public availability within the
time periods specified in the rules and regulations applicable to such reports (unless the SEC will not accept such filing). 

(e) If, at any time after consummation of the Exchange Offer, the Company is no longer subject to the periodic reporting requirements of
the Exchange Act for any reason, the Company will nevertheless continue filing the reports specified in the preceding paragraphs of this covenant with the SEC within the time periods specified above unless the SEC will not accept such filings. The
Company will not take any action for the purpose of causing the SEC not to accept any such filings. If, notwithstanding the foregoing, the SEC will not accept the Company’s filings for any reason, the Company will post the reports referred to
in the preceding paragraphs on its website within the time periods that would apply if the Company were required to file those reports with the SEC. 
 (f) Notwithstanding anything to the contrary in this Section 4.03, if at any time any such reports are not filed by the Company, or are not accepted by the SEC for any reason, for inclusion on the
SEC’s EDGAR service (or any successor thereto), the Company will post such reports on a website no later than the date the Company is required to provide those reports to the Trustee and the Holders of Notes and maintain such posting for so
long as any Notes remain outstanding. Access to such reports on such website may be subject to a confidentiality acknowledgment; provided, that no other conditions, including password protection, may be imposed on access to such reports other
than a representation by the Person accessing such reports that it is the Trustee, a Holder of Notes, a beneficial owner of the Notes, a bona fide prospective investor, a securities analyst or a market maker. 

  
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 (g) The Company will, for so long as any Notes remain outstanding, use its commercially
reasonable efforts to hold and participate in quarterly conference calls with the Holders of Notes, beneficial owners of the Notes, bona fide prospective investors, securities analysts and market makers to discuss such financial information no later
than 10 business days after distribution of such financial information. 
 (h) For so long as any Notes remain outstanding, the
Company will furnish to the Holders of Notes, beneficial owners of the Notes, bona fide prospective investors, securities analysts and market makers, upon their request, the reports described above and any other information required to be delivered
pursuant to Rule 144A(d)(4) under the Securities Act. 
 (i) Delivery of such reports, information and documents to the Trustee
under this covenant is for informational purposes only and the Trustee’s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the
Company’s and Guarantors’ compliance with any of the covenants hereunder (as to which the Trustee is entitled to rely exclusively on Officers’ Certificates). 
 Section 4.04 Compliance Certificate. 
 (a) The Company and each
Guarantor (to the extent that such Guarantor is so required under the TIA) shall deliver to the Trustee, within 120 days after the end of each fiscal year, an Officers’ Certificate stating that a review of the activities of the Company and its
Subsidiaries during the preceding fiscal year has been made under the supervision of the signing Officers with a view to determining whether the Company has kept, observed, performed and fulfilled its obligations under this Indenture and the
Collateral Documents, and further stating, as to each such Officer signing such certificate, that to the best of his or her knowledge the Company has kept, observed, performed and fulfilled each and every covenant contained in this Indenture and the
Collateral Documents and is not in default in the performance or observance of any of the terms, provisions and conditions of this Indenture or the Collateral Documents (or, if a Default or Event of Default has occurred, describing all such Defaults
or Events of Default of which he or she may have knowledge and what action the Company is taking or proposes to take with respect thereto) and that to the best of his or her knowledge no event has occurred and remains in existence by reason of which
payments on account of the principal of or interest, if any, on the Notes is prohibited or if such event has occurred, a description of the event and what action the Company is taking or proposes to take with respect thereto. 

(b) So long as any of the Notes are outstanding, the Company will deliver to the Trustee, within five Business Days of any Officer
becoming aware of any Default or Event of Default, an Officers’ Certificate specifying such Default or Event of Default and what action the Company is taking or proposes to take with respect thereto. 

Section 4.05 Taxes. 

The Company will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and
governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes. 

  
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 Section 4.06 Stay, Extension and Usury Laws. 

The Company and each of the Guarantors covenants (to the extent that it may lawfully do so) that it will not at any time insist upon,
plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law wherever enacted, now or at any time hereafter in force, that may affect the covenants or the performance of this Indenture; and the
Company and each of the Guarantors (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any
power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law has been enacted. 

Section 4.07 Restricted Payments. 
 (a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly: 
 (1) declare or pay any dividend or make any other payment or distribution on account of the Company’s or any of its Restricted Subsidiaries’ Equity Interests (including, without limitation, any
payment in connection with any merger or consolidation involving the Company or any of its Restricted Subsidiaries) or to the direct or indirect holders of the Company’s or any of its Restricted Subsidiaries’ Equity Interests in their
capacity as such (other than dividends or distributions payable in Equity Interests (other than Disqualified Stock) of the Company and other than dividends or distributions payable to the Company or a Restricted Subsidiary of the Company);

 (2) purchase, redeem or otherwise acquire or retire for value (including without limitation, in connection
with any merger or consolidation involving the Company) any Equity Interests of the Company or any direct or indirect parent of the Company; 
 (3) make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire or retire for value any Indebtedness of the Company or any Guarantor that is contractually subordinated in
right of payment to the Notes or to any Note Guarantee (excluding any intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries), except payments of interest or principal at the Stated Maturity thereof; or

 (4) make any Restricted Investment (all such payments and other actions set forth in these clauses
(1) through (4) above being collectively referred to as “Restricted Payments”), 
 unless, at the
time of and after giving effect to such Restricted Payment: 
 (1) no Default or Event of Default has occurred
and is continuing or would occur as a consequence of such Restricted Payment; 
 (2) the Company would, at the
time of such Restricted Payment and after giving pro forma effect thereto as if such Restricted Payment had been made at the beginning of the applicable four-quarter period, have been permitted to incur at least $1.00 of additional Indebtedness
pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a) hereof; and 

  
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 (3) such Restricted Payment, together with the aggregate amount of all other
Restricted Payments made by the Company and its Restricted Subsidiaries since the date of this Indenture (excluding Restricted Payments permitted by clauses (2) through (13) of paragraph (b) of this Section 4.07), is less than
the sum, without duplication of: 
 (A) 50% of the Consolidated Net Income of the Company for the period (taken
as one accounting period) from the beginning of the first fiscal quarter commencing immediately prior to the date of this Indenture to the end of the Company’s most recently ended fiscal quarter for which internal financial statements are
available at the time of such Restricted Payment (or, if such Consolidated Net Income for such period is a deficit, less 100% of such deficit); plus 
 (B) 100% of the aggregate net cash proceeds received by the Company since the date of this Indenture as a contribution to its common equity capital or from the issue or sale of Equity Interests of the
Company (other than Disqualified Stock) or from the issue or sale of convertible or exchangeable Disqualified Stock or convertible or exchangeable debt securities of the Company that have been converted into or exchanged for such Equity Interests
(other than Equity Interests (or Disqualified Stock or debt securities) sold to a Subsidiary of the Company and excluding any net proceeds from the issuance or sale of Equity Interests of the Company to the extent used to redeem Notes pursuant to
Section 3.07(a)); plus  
 (C) to the extent that any Restricted Investment that was made after the
date of this Indenture is sold for cash or otherwise liquidated or repaid for cash, the cash return of capital with respect to such Restricted Investment (less the cost of disposition, if any); plus  

(D) to the extent that any Unrestricted Subsidiary of the Company designated as such after the date of this Indenture is
redesignated as a Restricted Subsidiary after the date of this Indenture, the Fair Market Value of the Company’s Investment in such Subsidiary as of the date of such redesignation; plus  

(E) 50% of any cash dividends received by the Company or a Restricted Subsidiary of the Company after the date of this
Indenture from an Unrestricted Subsidiary of the Company, to the extent that such dividends were not otherwise included in the Consolidated Net Income of the Company for such period. 

(b) The provisions of Section 4.07(a) hereof will not prohibit: 

(1) the payment of any dividend or the consummation of any irrevocable redemption within 60 days after the date of
declaration of the dividend or giving of the redemption notice, as the case may be, if at the date of declaration or notice, the dividend or redemption payment would have complied with the provisions of this Indenture; 

(2) so long as no Default has occurred and is continuing or would be caused thereby, the making of any Restricted Payment
in exchange for, or out of the net cash proceeds of the substantially concurrent sale (other than to a Subsidiary of the Company) of, Equity Interests of the Company (other than Disqualified Stock) or from the substantially concurrent contribution
of common equity capital to the Company; provided that the amount of any such net cash proceeds that are utilized for any such Restricted Payment will be excluded from clause (3)(B) of Section 4.07(a) hereof; 

  
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 (3) the repurchase, redemption, defeasance or other acquisition or
retirement for value of Indebtedness of the Company or any Guarantor that is contractually subordinated in right of payment to the Notes or to any Note Guarantee with the net cash proceeds from a substantially concurrent incurrence of Permitted
Refinancing Indebtedness; 
 (4) the payment of any dividend (or, in the case of any partnership or limited
liability company, any similar distribution) by a Restricted Subsidiary of the Company to the holders of its Equity Interests on a pro rata basis; 
 (5) so long as no Default has occurred and is continuing or would be caused thereby, the repurchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company;
provided that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests may not exceed $15,000,000 in any fiscal year of the Company; 

(6) the repurchase of Equity Interests deemed to occur upon the exercise of stock options to the extent such Equity
Interests represent a portion of the exercise price of those stock options; 
 (7) the declaration and payment of
regularly scheduled or accrued dividends to holders of any class or series of Disqualified Stock of the Company or any Restricted Subsidiary of the Company issued on or after the date of this Indenture in accordance with the Fixed Charge Coverage
test described in Section 4.09 hereof; 
 (8) cash payment in lieu of issuance of fractional shares in
connection with the exercise of warrants, options or other securities convertible into or exchangeable for the Equity Interests of the Company; provided, however, that any such cash payment shall not be for the purpose of evading the
limitation of the covenant described in this Section 4.07; 
 (9) (a) cash settle conversions of the
2015 Convertible Notes to the extent required pursuant to the 2015 Convertible Notes as in effect on the date of this Indenture and (b) so long as no Event of Default then exists or would result therefrom, the Company may otherwise purchase,
redeem or repay outstanding 2015 Convertible Notes, in each case for a purchase price not to exceed that amount offered to be paid for such 2015 Convertible Notes as part of the refinancing in connection with the Transactions and so long as the only
funds used to effect the principal amount of any such cash settlement, purchase, redemption or repayment are those on deposit in the cash collateral account pursuant to the Collateral Documents; 

(10) so long as no Default has occurred and is continuing or would be caused thereby, the repurchase, redemption or other
acquisition or retirement for value of any Equity Interests of the Company in an aggregate amount not to exceed the remainder (if positive) of (A) $720,000,000 minus (B) the aggregate cash portion of the consideration paid to the existing
shareholders of the Target in connection with the Transactions; 
 (11) Restricted Payments made in connection
with the Transactions contemplated by the Offering Memorandum; 
 (12) the repurchase, redemption or other
acquisition or retirement for value of any Indebtedness of the Company or any Guarantor that is contractually subordinated in right of payment to the Notes or to any Note Guarantee required pursuant to provisions similar to those described in
Section 4.10 and Section 4.15; provided that there is a concurrent or prior Change of Control Offer or Asset Sale Offer, as applicable, and all Notes tendered by Holders of Notes in connection with such Change of Control Offer or
Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired or retired for value; and 
 (13) so
long as no Default has occurred and is continuing or would be caused thereby, other Restricted Payments in an aggregate amount not to exceed $25,000,000 since the date of this Indenture. 

  
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 The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the
date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment. 

Section 4.08 Dividend and Other Payment Restrictions Affecting Subsidiaries. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or permit to exist or
become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to: 
 (1)
pay dividends or make any other distributions on its Capital Stock to the Company or any of its Restricted Subsidiaries, or with respect to any other interest or participation in, or measured by, its profits, or pay any indebtedness owed to the
Company or any of its Restricted Subsidiaries; 
 (2) make loans or advances to the Company or any of its
Restricted Subsidiaries; or 
 (3) sell, lease or transfer any of its properties or assets to the Company or any
of its Restricted Subsidiaries. 
 (b) The restrictions in Section 4.08(a) hereof will not apply to encumbrances or
restrictions existing under or by reason of: 
 (1) agreements governing Existing Indebtedness and the Senior
Credit Facility as in effect on the date of this Indenture and any amendments, restatements, modifications, renewals, supplements, refundings, replacements or refinancings of those agreements; provided that the amendments, restatements,
modifications, renewals, supplements, refundings, replacements or refinancings are not materially more restrictive, taken as a whole, with respect to such dividend and other payment restrictions than those contained in those agreements on the date
of this Indenture; 
 (2) the Indenture Documents; 

(3) applicable law or any applicable rule, regulation or order; 

(4) any instrument governing Indebtedness or Capital Stock of a Person acquired by the Company or any of its Restricted
Subsidiaries as in effect at the time of such acquisition (except to the extent such Indebtedness or Capital Stock was incurred in connection with or in contemplation of such acquisition), which encumbrance or restriction is not applicable to any
Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, so acquired; provided that, in the case of Indebtedness, such Indebtedness was permitted by the terms of this Indenture to be
incurred; 

  
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 (5) customary provisions restricting assignment of any agreement entered
into by the Company or any Restricted Subsidiary; 
 (6) purchase money obligations for property acquired in the
ordinary course of business and Capital Lease Obligations that impose restrictions on the property purchased or leased of the nature described in clause (3) of Section 4.08(a) hereof; 

(7) any agreement for the sale or other disposition of a Restricted Subsidiary that restricts distributions by that
Restricted Subsidiary pending the sale or other disposition; 
 (8) Permitted Refinancing Indebtedness;
provided that the restrictions contained in the agreements governing such Permitted Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being
refinanced; 
 (9) Liens permitted to be incurred under the provisions of Section 4.12 hereof; 

(10) customary restrictions on joint ventures or interests therein arising from joint venture agreements; 

(11) any instrument governing Indebtedness of a Foreign Restricted Subsidiary; provided that such Indebtedness was
not prohibited by the terms of this Indenture; 
 (12) customary provisions restricting subletting or assignment
of any lease governing a leasehold interest of the Company or a Restricted Subsidiary; 
 (13) covenants in
documents evidencing Excluded Debt so long as prohibition or limitation only applies to the Subsidiary of the Company that has incurred such Excluded Debt and does not apply to the Company or any Guarantor; 

(14) restrictions imposed on the ability of Knight Capital Americas LLC to make dividends; 

(15) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary
course of business; and 
 (16) restrictions in agreements or instruments relating to any Indebtedness permitted
to be incurred subsequent to the date of this Indenture pursuant to Section 4.09 if (A) the encumbrances and restrictions contained in any such agreement or instrument taken as a whole are not materially less favorable to the Holders of
the Notes than the encumbrances and restrictions contained in instruments governing Indebtedness as in effect on the date of this Indenture (as determined in good faith by the Company), or (B) such encumbrance or restriction is not materially
more disadvantageous to the Holders of the Notes than is customary in comparable financings (as determined in good faith by the Company) and either (x) the Company determines in good faith that such encumbrance or restriction will not
materially affect the Company’s ability to make principal or interest payments on the Notes or (y) such encumbrance or restriction applies only if a default occurs in respect of a payment or financial covenant relating to such
Indebtedness. 

  
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 Section 4.09 Incurrence of Indebtedness and Issuance of Preferred Stock. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, issue, assume,
guarantee or otherwise become directly or indirectly liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness (including Acquired Debt), and the Company will not issue any Disqualified Stock and
will not permit any of its Restricted Subsidiaries to issue any shares of preferred stock; provided, however, that the Company may incur Indebtedness (including Acquired Debt) or issue Disqualified Stock, and the Guarantors may incur
Indebtedness (including Acquired Debt), if the Fixed Charge Coverage Ratio for the Company’s most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such
additional Indebtedness is incurred or such Disqualified Stock is issued, as the case may be, would have been at least 2.00 to 1.00, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the
additional Indebtedness had been incurred or the Disqualified Stock had been issued, as the case may be, at the beginning of such four-quarter period. 
 (b) The provisions of Section 4.09(a) hereof will not prohibit the incurrence of any of the following items of Indebtedness (collectively, “Permitted Debt”): 

(1) the incurrence by the Company and any Guarantors of Indebtedness and letters of credit under the Senior Credit
Facility in an aggregate principal amount at any one time outstanding under this clause (1) (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its Restricted Subsidiaries
thereunder) not to exceed $585,000,000 less (without duplication) (a) the first $235,000,000 of regularly scheduled amortization payments made under the Senior Credit Facility and (b) the aggregate amount of all Net Proceeds of Asset Sales
applied by the Company or any of its Restricted Subsidiaries since the date of this Indenture to repay any term Indebtedness under the Senior Credit Facility or to repay any revolving credit Indebtedness under the Senior Credit Facility and effect a
corresponding commitment reduction thereunder pursuant to Section 4.10; 
 (2) the incurrence by the Company
and the Guarantors of Indebtedness represented by the Notes and the related Note Guarantees to be issued on the date of this Indenture and the exchange Notes and the related Note Guarantees to be issued pursuant to the registration rights agreement
and any Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (2); 

(3) Indebtedness of the Company to any Restricted Subsidiary of the Company or of any Restricted Subsidiary of the Company
to the Company or any other Restricted Subsidiary of the Company to the extent that such Indebtedness corresponds to any Investment permitted by clauses (6) and (7) of the definition of “Permitted Investments”; provided
that such Indebtedness shall not have been transferred or pledged to any third party; 
 (4) the incurrence by
the Company or any of its Restricted Subsidiaries of intercompany Indebtedness between or among the Company and any of its Restricted Subsidiaries; provided, however, that: 

(a) if the Company or any Guarantor is the obligor on such Indebtedness and the payee is not the Company or a Guarantor,
such Indebtedness must be expressly subordinated to the prior payment in full in cash of all Obligations then due with respect to the Notes, in the case of the Company, or the Note Guarantee, in the case of a Guarantor; and 

  
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 (b) (i) any subsequent issuance or transfer of Equity Interests that
results in any such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary of the Company and (ii) any sale or other transfer of any such Indebtedness to a Person that is not either the Company or a Restricted
Subsidiary of the Company, will be deemed, in each case, to constitute an incurrence of such Indebtedness by the Company or such Restricted Subsidiary, as the case may be, that was not permitted by this clause (4); 

(5) the issuance by any of the Company’s Restricted Subsidiaries to the Company or to any of its Restricted
Subsidiaries of shares of preferred stock; provided, however, that: 
 (a) any subsequent issuance
or transfer of Equity Interests that results in any such preferred stock being held by a Person other than the Company or a Restricted Subsidiary of the Company; and 

(b) any sale or other transfer of any such preferred stock to a Person that is not either the Company or a Restricted
Subsidiary of the Company, will be deemed, in each case, to constitute an issuance of such preferred stock by such Restricted Subsidiary that was not permitted by this clause (5); 

(6) Indebtedness of any Person that shall have become a Restricted Subsidiary of the Company after the date of this
Indenture; provided that such Indebtedness (i) shall have existed at the time such Person becomes a Restricted Subsidiary of the Company and shall not have been created in contemplation of or in connection with such Person becoming a
Restricted Subsidiary of the Company (ii) does not constitute Indebtedness for borrowed money unless (x) such Indebtedness constitutes purchase money obligations, (y) such Indebtedness constitutes Excluded Debt or (z) the Company
would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a) after giving pro forma effect to the incurrence of such Indebtedness and (iii) is not
directly or indirectly recourse to the Company or any of its Restricted Subsidiaries or any of their respective assets, other than to the Person that becomes a Restricted Subsidiary of the Company, and any Permitted Refinancing Indebtedness incurred
to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (6); 
 (7) Guarantees incurred in the ordinary course of business by the Company or any of its Restricted Subsidiaries in respect of (i) obligations of any Broker-Dealer Subsidiaries and any other Excluded
Regulated Subsidiaries, (ii) the Excluded Debt of GETCO Asia or (iii) other obligations of any Restricted Subsidiary of the Company that is not a Broker-Dealer Subsidiary, a Guarantor, or other Excluded Regulated Subsidiary;
provided that the aggregate amount of all Guarantees permitted by this clause (7)(iii) shall not exceed $20,000,000; 
 (8) the incurrence by the Company and its Restricted Subsidiaries of the Existing Indebtedness and, other than with respect to any Indebtedness under the 2015 Convertible Notes, any Permitted Refinancing
Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (8); 
 (9) Indebtedness constituting purchase money obligations (including Capital Lease Obligations) incurred to finance the acquisition, construction or improvement of any fixed or capital assets, and any
Indebtedness assumed or incurred in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace,
defease or discharge any Indebtedness incurred pursuant to this clause (9); provided that (a) the aggregate 

  
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principal amount of all Indebtedness permitted by this clause (9) shall not exceed $60,000,000 at any time outstanding and (b) such Indebtedness is initially incurred prior to or within
365 days after such acquisition or the completion of such construction; 
 (10) Excluded Debt; 

(11) Guarantees of the Company and its Restricted Subsidiaries in respect of Indebtedness or other liabilities of the
Company and its Restricted Subsidiaries so long as the incurrence or existence of such Indebtedness or other liabilities is permitted under this Indenture; provided that the Company or any of the Guarantors may not incur such Guarantees in
respect of Indebtedness or other liabilities of a party that is not the Company or a Guarantor; provided further that any Guarantees in respect of subordinated Indebtedness shall also be subordinated to the Notes or any Note Guarantee on
terms at least as favorable to the Holders of the Notes as those applicable to the subordinated indebtedness that is guaranteed; 
 (12) the incurrence by Foreign Restricted Subsidiaries of Indebtedness in an aggregate principal amount at any time outstanding pursuant to this clause (12), including all Permitted Refinancing
Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (12), not to exceed $30,000,000 (or the equivalent thereof, measured at the time of each incurrence, in the applicable
foreign currency); 
 (13) cash management obligations and Indebtedness in respect of netting services, overdraft
protections and similar arrangements in each case in connection with cash management and deposit accounts in the ordinary course of business; 
 (14) the incurrence by the Company or any of its Restricted Subsidiaries of Hedging Obligations for bona fide hedging purposes and not for speculative purposes; 

(15) Indebtedness representing deferred compensation or other similar arrangements to employees of the Company or any of
its Restricted Subsidiaries incurred in the ordinary course of business; 
 (16) Indebtedness incurred by the
Company or any of its Restricted Subsidiaries in an acquisition, any other Investment or any disposition, in each case, expressly permitted under this Indenture, in each case to the extent constituting indemnification obligations or obligations in
respect of purchase price (including earn-outs) or other similar adjustments; 
 (17) Indebtedness incurred by
the Company or any of its Restricted Subsidiaries in respect of letters of credit, bank guarantees, bankers’ acceptances, warehouse receipts or similar instruments issued or created in the ordinary course of business, including in respect of
workers compensation claims, health, disability or other employee benefits or property, casualty or liability insurance or self-insurance or other Indebtedness with respect to reimbursement-type obligations regarding workers compensation claims;

 (18) Indebtedness consisting of the financing of insurance premiums so long as the aggregate amount of such
Indebtedness is not in excess of the amount of the unpaid cost of, and shall be incurred only to defer the cost of, such insurance for the year in which such Indebtedness is incurred and such Indebtedness is outstanding only during such year and is
incurred in the ordinary course of business; 

  
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 (19) obligations in respect of performance, bid, appeal and surety bonds and
performance and completion guarantees and similar obligations provided by the Company or any of its Restricted Subsidiaries, or obligations in respect of letters of credit, bank guarantees or similar instruments related thereto, in each case in the
ordinary course of business and consistent with past practice; 
 (20) the incurrence by the Company or any of
its Restricted Subsidiaries of additional Indebtedness in an aggregate principal amount (or accreted value, as applicable) at any time outstanding, including all Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace,
defease or discharge any Indebtedness incurred pursuant to this clause (20), at the time of incurrence thereof, not to exceed $75,000,000; 
 (21) Indebtedness in the ordinary course of business in respect of letters of credit, guarantees, counter-indemnities and short term facilities incurred by the Company or any of its Restricted
Subsidiaries engaged in Exchange and Clearing Operations in connection with the ordinary clearing, depository and settlement procedures (including, without limitation, any letter of credit or guarantees provided to any central securities
depositories or external custodians) relating thereto; 
 (22) the incurrence by the Company or any of its
Restricted Subsidiaries of Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument (except in the case of daylight overdrafts) inadvertently drawn against insufficient funds in the
ordinary course of business, so long as such Indebtedness is covered within five business days; and 
 (23)
Indebtedness consisting of Knight Capital Americas Preferred Units, with an aggregate Series A Preferred Value not to exceed $500,000 at any time outstanding; provided that no Knight Capital Americas Preferred Unit issued pursuant to this
clause (23) shall have been assigned or transferred by the Person to which it was originally issued, other than to an Affiliate of such Person. 
 The Company will not incur, and will not permit any Guarantor to incur, any Indebtedness (including Permitted Debt) that is contractually subordinated in right of payment to any other Indebtedness of the
Company or such Guarantor unless such Indebtedness is also contractually subordinated in right of payment to the Notes and the applicable Note Guarantee on substantially identical terms; provided, however, that no Indebtedness will be
deemed to be contractually subordinated in right of payment to any other Indebtedness of the Company solely by virtue of being unsecured or by virtue of being secured on a junior Lien or priority basis. 

For purposes of determining compliance with this Section 4.09, in the event that an item of proposed Indebtedness meets the criteria
of more than one of the categories of Permitted Debt described in clauses (1) through (23) above, or is entitled to be incurred pursuant to Section 4.09(a) hereof, the Company will be permitted to classify such item of Indebtedness on
the date of its incurrence, or later reclassify all or a portion of such item of Indebtedness, in any manner that complies with this Section 4.09. Indebtedness under the Senior Credit Facility outstanding on the date on which Notes are first
issued and authenticated under this Indenture will initially be deemed to have been incurred on such date in reliance on the exception provided by clause (1) of the definition of Permitted Debt. The accrual of interest or premium, the accretion
or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles, and
the payment of dividends on Disqualified Stock in the form of additional shares of the same class of Disqualified Stock will not be 

  
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deemed to be an incurrence of Indebtedness or an issuance of Disqualified Stock for purposes of this Section 4.09; provided, in each such case, that the amount of any such accrual,
accretion or payment is included in Fixed Charges of the Company as accrued. Notwithstanding any other provision of this Section 4.09, the maximum amount of Indebtedness that the Company or any Restricted Subsidiary may incur pursuant to this
Section 4.09 shall not be deemed to be exceeded solely as a result of fluctuations in exchange rates or currency values. 

Notwithstanding the foregoing, so long as it is not a Guarantor, neither GETCO Investments, LLC nor GETCO Strategic Investments, LLC
shall incur any Indebtedness (other than Indebtedness of the type described in clauses (4) (so long as such Indebtedness is owed to the Company or a Guarantor), (13), (16) or (22) above). 

The amount of any Indebtedness outstanding as of any date will be: 

(1) the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount;

 (2) the principal amount of the Indebtedness, in the case of any other Indebtedness; and 

(3) in respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person, the lesser of:

 (A) the Fair Market Value of such assets at the date of determination; and 

(B) the amount of the Indebtedness of the other Person. 
 Section 4.10 Asset Sales. 
 The Company will not, and will not permit
any of its Restricted Subsidiaries to, consummate an Asset Sale unless: 
 (1) the Company (or the Restricted
Subsidiary, as the case may be) receives consideration at the time of the Asset Sale at least equal to the Fair Market Value of the assets or Equity Interests issued or sold or otherwise disposed of; and 

(2) at least 75% of the consideration received in the Asset Sale by the Company or such Restricted Subsidiary is in the
form of cash or Cash Equivalents. For purposes of this provision, each of the following will be deemed to be cash: 
 (A) any liabilities, as shown on the Company’s most recent consolidated balance sheet, of the Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by their
terms subordinated to the Notes or any Note Guarantee) that are assumed by the transferee of any such assets pursuant to a customary novation agreement that releases the Company or such Restricted Subsidiary from further liability; 

(B) any securities, notes or other obligations received by the Company or any such Restricted Subsidiary from such
transferee that are converted within 180 days by the Company or such Restricted Subsidiary into cash or Cash Equivalents, to the extent of the cash or Cash Equivalents received in that conversion; and 

(C) any stock or assets of the kind referred to in clauses (3) or (5) of the next paragraph of this
Section 4.10. 

  
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 Within 365 days after the receipt of any Net Proceeds from an Asset Sale, the Company (or
the applicable Restricted Subsidiary, as the case may be) may apply such Net Proceeds: 
 (1) (a) to repay
Indebtedness and other Obligations of the Company or any Guarantor under the Senior Credit Facility and to correspondingly reduce commitments (if any) with respect thereto and (b) to repay other First Lien Obligations permitted to be incurred
by the Company or any Guarantor under the terms of this Indenture and to correspondingly reduce commitments (if any) with respect thereto; 
 (2) to the extent the Net Proceeds are attributable to an Asset Sale of assets, rights or Equity Interests that do not constitute Collateral, to repay Indebtedness secured by such assets, rights or Equity
Interests and to correspondingly reduce commitments (if any) with respect thereto; 
 (3) to acquire all or
substantially all of the assets of, or any Capital Stock of, another Permitted Business, if, after giving effect to any such acquisition of Capital Stock, the Permitted Business is or becomes a Restricted Subsidiary of the Company; 

(4) to make a capital expenditure; 

(5) to acquire other assets that are not classified as current assets under GAAP and that are used or useful in a
Permitted Business; 
 (6) to use such proceeds to comply with applicable capital requirements or finance the
working capital needs of a Broker-Dealer Subsidiary, an operating regulated entity or a licensed mortgage Restricted Subsidiary or an Equivalent Regulated Subsidiary (or to make Permitted Investments or Restricted Investments permitted to be made
under Section 4.07 which will be so used by a Broker-Dealer Subsidiary, an operating regulated entity or a licensed mortgage Restricted Subsidiary or an Equivalent Regulated Subsidiary); or 

(7) to repay Excluded Debt and to correspondingly reduce commitments (if any) with respect thereto. 

Pending the final application of any Net Proceeds, the Company may temporarily reduce revolving credit borrowings or otherwise invest the Net Proceeds in
any manner that is not prohibited by this Indenture. 
 Any Net Proceeds from Asset Sales (other than Excluded Net Proceeds)
that are not applied or invested as provided in the second paragraph of this Section 4.10 will constitute “Excess Proceeds.” Within 15 days following the 365-day period above to the extent the aggregate amount of Excess
Proceeds exceeds $25,000,000, the Company will make an Asset Sale Offer to all Holders and, to the extent the Company is required by the terms thereof, all holders of other Second Lien Obligations containing provisions similar to those set forth in
this Indenture with respect to offers to purchase or redeem with proceeds of sales of assets, pro rata in proportion to the respective principal amounts of the Notes and such other Second Lien Obligations required to be purchased or redeemed, to
purchase the maximum principal amount of Notes and such other Second Lien Obligations that may be purchased with the Excess Proceeds. The offer price in any Asset Sale Offer will be equal to 100% of the principal amount of the Notes or such other
Second Lien Obligations, plus accrued and unpaid interest and Additional Interest, if any, to the date of purchase (subject to the rights of Holders on the relevant record 

  
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date to receive interest due on the relevant interest payment date), and will be payable in cash. If any Excess Proceeds remain after consummation of an Asset Sale Offer, the Company may use
those Excess Proceeds for any purpose not otherwise prohibited by this Indenture. If the aggregate principal amount of Notes tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the trustee or DTC will select the Notes to be
purchased on a pro rata basis (or, in the case of Global Notes as discussed in Section 3.02, based on a method that most nearly approximates a pro rata selection as the trustee deems fair and appropriate), and in any event, in accordance with
applicable procedures of DTC. Upon completion of each Asset Sale Offer, the amount of Excess Proceeds will be reset at zero. 

The Company will comply with the requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations
thereunder to the extent such laws and regulations are applicable in connection with each repurchase of Notes pursuant to an Asset Sale Offer. To the extent that the provisions of any securities laws or regulations conflict with the provisions of
Section 3.09 hereof or this Section 4.10, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under Section 3.09 hereof or this Section 4.10 by
virtue of such compliance. 
 Section 4.11 Transactions with Affiliates. 

(a) The Company will not, and will not permit any of its Restricted Subsidiaries to, make any payment to, or sell, lease, transfer or
otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any
Affiliate of the Company (each an “Affiliate Transaction”), unless: 
 (1) the Affiliate
Transaction is on terms that are no less favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person; and

 (2) the Company delivers to the Trustee: 

(A) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate
consideration in excess of $10,000,000 a certificate of a Responsible Officer of the Company certifying that such Affiliate Transaction complies with this Section 4.11; and 

(B) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate
consideration in excess of $50,000,000, a resolution of the Board of Directors of the Company set forth in an Officers’ Certificate certifying that such Affiliate Transaction complies with this Section 4.11 and that such Affiliate
Transaction has been approved by a majority of the disinterested members of the Board of Directors of the Company; provided, however, that in the event there are no disinterested members of the Board of Directors of the Company, the
Board of Directors of the Company shall also have received a written opinion from an accounting, appraisal or investment banking firm of national standing to the effect that such Affiliate Transaction or series of related Affiliate Transactions is
fair, from a financial standpoint, to the Company and its Restricted Subsidiaries or is not less favorable to the Company and its Restricted Subsidiaries than could reasonably be expected to be obtained at the time in an arm’s-length
transaction with a non-Affiliate. 

  
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 (b) The following items will not be deemed to be Affiliate Transactions and, therefore, will
not be subject to the provisions of Section 4.11(a) hereof: 
 (1) Restricted Payments that do not violate
the provisions of Section 4.07 hereof; 
 (2) Permitted Investments; 

(3) customary director, officer and employee compensation (including bonuses) and other benefits (including retirement,
health, stock option and other benefit plans) and indemnification arrangements (including any such arrangements entered into in connection with the Transactions); 

(4) ordinary course non-exclusive license agreements relating to intellectual property not interfering in any material
respect with the ordinary conduct of business of or the value of such intellectual property to the Company or any of its Restricted Subsidiaries subject to the Liens created in favor of the Notes Secured Parties under the Collateral Documents;

 (5) the Transactions as contemplated by the Offering Memorandum; 

(6) transactions with customers, clients, suppliers, joint venture partners or purchasers or sellers of goods and
services, in each case subject to commercially reasonable terms and in the ordinary course of business of the Company and its Restricted Subsidiaries and not otherwise prohibited by the terms of this Indenture; 

(7) sales of Equity Interests (other than Disqualified Stock) of the Company to Affiliates not otherwise prohibited by
this Indenture and the granting of registration and other rights in connection therewith; 
 (8) any transaction
with an Affiliate where the only consideration paid by the Company or any Restricted Subsidiary is Equity Interests (other than Disqualified Stock) of the Company; 

(9) transactions with a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company
solely because the Company owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person; 
 (10) transactions pursuant to agreements in effect on the date of this Indenture; and 
 (11) transactions between or among the Company and/or its Restricted Subsidiaries. 

Section 4.12 Liens. 

The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly create, incur, assume or suffer to
exist any Lien of any kind on any asset now owned or hereafter acquired, except Permitted Liens. 
 Section 4.13 Business Activities.

 The Company will not, and will not permit any of its Restricted Subsidiaries to, engage in any business other than
Permitted Businesses, except to such extent as would not be material to the Company and its Restricted Subsidiaries taken as a whole. 

  
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 Section 4.14 Existence; Insurance. 

(a) Subject to Article 5 hereof, the Company shall do or cause to be done all things necessary to preserve and keep in full force and
effect: 
 (1) its existence, and the corporate, partnership or other existence of each of its Subsidiaries, in
accordance with the respective organizational documents (as the same may be amended from time to time) of the Company or any such Subsidiary; and 
 (2) the rights (charter and statutory), licenses and franchises of the Company and its Subsidiaries; provided, however, that the Company shall not be required to preserve any such right,
license or franchise, or the corporate, partnership or other existence of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof is no longer desirable in the conduct of the business of the Company and its
Subsidiaries, taken as a whole, and that the loss thereof is not adverse in any material respect to the Holders of the Notes. 

(b) The Company shall maintain with financially sound and reputable insurance companies insurance on all its property in at least such
amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.

 Section 4.15 Offer to Repurchase Upon Change of Control. 
 (a) Upon the occurrence of a Change of Control, unless the Company at such time has given notice of redemption with respect to all outstanding Notes as described under Section 3.07, the Company will
make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000) of that Holder’s Notes at a purchase price in cash equal to 101% of the aggregate
principal amount of Notes repurchased plus accrued and unpaid interest and Additional Interest, if any, on the Notes repurchased to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the
relevant interest payment date (the “Change of Control Payment”). Within 30 days following any Change of Control, unless the Company at such time has given notice of redemption with respect to all outstanding Notes as described
under Section 3.07, the Company will mail a notice to each Holder, with a copy to the Trustee, describing the transaction or transactions that constitute the Change of Control and stating: 

(1) that the Change of Control Offer is being made pursuant to this Section 4.15 and that all Notes tendered will be
accepted for payment; 
 (2) the purchase price and the purchase date, which shall be no earlier than 30 days and
no later than 60 days from the date such notice is mailed (the “Change of Control Payment Date”); 
 (3) that any Note not tendered will continue to accrue interest; 

(4) that, unless the Company defaults in the payment of the Change of Control Payment, all Notes accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest after the Change of Control Payment Date; 

(5) that Holders electing to have any Notes purchased pursuant to a Change of Control Offer will be required to surrender
the Notes, with the form entitled “Option of Holder to Elect Purchase” attached to the Notes completed, or transfer by book-entry transfer, to the Paying Agent at the address specified in the notice prior to the close of business on the
third Business Day preceding the Change of Control Payment Date; 

  
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 (6) that Holders will be entitled to withdraw their election if the Paying
Agent receives, not later than the close of business on the second Business Day preceding the Change of Control Payment Date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of Notes
delivered for purchase, and a statement that such Holder is withdrawing his election to have the Notes purchased; and 
 (7) that Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered, which unpurchased portion must be
equal to $2,000 in principal amount or an integral multiple of $1,000 in excess thereof. 
 The Company will comply with the
requirements of Rule 14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the extent those laws and regulations are applicable in connection with the repurchase of the Notes as a result of a Change in Control. To
the extent that the provisions of any securities laws or regulations conflict with the provisions of Sections 3.09 or 4.15 hereof, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached
its obligations under Section 3.09 hereof or this Section 4.15 by virtue of such compliance. 
 (b) On the Change of
Control Payment Date, the Company will, to the extent lawful: 
 (1) accept for payment all Notes or portions of
Notes properly tendered and not withdrawn pursuant to the Change of Control Offer; 
 (2) deposit with the Paying
Agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered and not withdrawn; and 
 (3) deliver or cause to be delivered to the Trustee the Notes properly accepted together with an Officers’ Certificate stating the aggregate principal amount of Notes or portions of Notes being
purchased by the Company. 
 The Paying Agent will promptly mail (but in any case not later than five days after the Change of
Control Payment Date) to each Holder of Notes properly tendered and not withdrawn the Change of Control Payment for such Notes, and the Trustee (at the request of the Company) will promptly authenticate and mail (or cause to be transferred by book
entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes surrendered, if any; provided that any such new Notes will be in denominations of $2,000 and integral multiple of $1,000 in excess thereof. The
Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the Change of Control Payment Date. 
 (c) The provisions of this Section 4.15 that require the Company to make a Change of Control Offer following a Change of Control will be applicable whether or not any other provisions of this
Indenture are applicable. Except as described in this Section 4.15 with respect to a Change of Control, this Indenture does not contain provisions that permit the Holders of the Notes to require that the Company repurchase or redeem the Notes
in the event of a takeover, recapitalization or similar transaction. 

  
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 (d) Notwithstanding anything to the contrary in this Section 4.15, the Company will not
be required to make a Change of Control Offer upon a Change of Control if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section 4.15 and
Section 3.09 hereof and purchases all Notes properly tendered and not withdrawn under the Change of Control Offer or (2) notice of redemption for all outstanding Notes has been given pursuant to Section 3.07 hereof, unless and until
there is a default in payment of the applicable redemption price. 
 Section 4.16 Limitation on Certain Equity Interests.

 All of the Equity Interests of GETCO Investments, LLC and GETCO Strategic Investments, LLC shall be owned by the Company
or a Guarantor and pledged as Collateral for the Indenture Obligations. 
 Section 4.17 Mortgages. 

With respect to any fee interest in any Real Property that is acquired by the Company or a Guarantor after the date of this Indenture that
has a purchase price greater than $2,500,000 (such Real Property referred to individually and collectively as the “Premises”), within 90 days of such acquisition, the Company shall or shall cause the applicable Guarantor, as the
case may be, to: 
 (1) deliver to the Collateral Agent, as mortgagee, for the benefit of the Notes Secured
Parties, fully executed Mortgages, duly executed by the Company or the applicable Guarantor, as the case may be, together with evidence of the completion (or satisfactory arrangements for the completion) of all recordings and filings of such
Mortgage as may be necessary to create a valid, perfected Lien, subject to Permitted Liens and the Intercreditor Agreement, against the Premises purported to be covered thereby; 

(2) deliver to the Collateral Agent, a mortgagee’s title insurance policy in favor of the Collateral Agent in an
amount equal to 100% of the Fair Market Value of the Premises purported to be covered by the related Mortgage, insuring that the interests created by the Mortgage constitute valid Liens thereon free and clear of all Liens, defects and encumbrances
other than Permitted Liens and any other exceptions disclosed in such policy, and such policy shall also include, to the extent available and issued at ordinary rates, customary endorsements and shall be accompanied by evidence of the payment in
full (or satisfactory arrangements for the payment) of all premiums thereon; 
 (3) deliver to the Collateral
Agent the most recent survey (if any) of such Premises, together with (if such a survey is available) either (i) an updated survey certification in favor of the Collateral Agent from the applicable surveyor stating that, based on a visual
inspection of the property and the knowledge of the surveyor, there has been no change in the facts depicted in the survey or (ii) an affidavit and/or indemnity from the Company or the applicable Guarantor, as the case may be, stating that to
its knowledge there has been no change in the facts depicted in the survey, other than, in each case, changes that do not materially adversely affect the use by the Company or Guarantor, as applicable, of such Premises for the Company or such
Guarantor’s business as so conducted, or intended to be conducted, at such Premises and in each case, in form sufficient for the title insurer issuing the title policy to remove the standard survey exception from such policy and issue a survey
endorsement to such policy unless the title insurance company issuing the title policy otherwise agrees to remove the standard survey exception and deliver endorsements to such title insurance policy; and 

  
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 (4) deliver an Opinion of Counsel to the Collateral Agent that such Mortgage
has been duly authorized, executed and delivered by the Company or such Guarantor, constitutes a legal, valid, binding and enforceable obligation of the Company or such Guarantor and creates a valid perfected Lien in the Premises purported to be
covered thereby (in each case, subject to customary exceptions and qualifications). 
 Section 4.18 Payments for Consent.

 The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, pay or cause to
be paid any consideration to or for the benefit of any Holder of Notes for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is paid to all Holders of
the Notes that consent, waive or agree to amend in the time frame set forth in the solicitation documents relating to such consent, waiver or agreement. 
 Section 4.19 Additional Note Guarantees. 
 If the Company or any of its
Restricted Subsidiaries acquires or creates another Wholly Owned Domestic Restricted Subsidiary after the date of this Indenture, then that newly acquired or created Domestic Restricted Subsidiary will within 30 days of the date on which it was
acquired or created (i) execute and deliver to the trustee a supplemental indenture substantially in the form of Exhibit F hereto pursuant to which such Wholly Owned Domestic Restricted Subsidiary will Guarantee the Notes, (ii) execute and
deliver to the Collateral Agent joinder agreements or other similar agreements with respect the Collateral Documents and (iii) deliver to the Trustee an Opinion of Counsel that such supplemental indenture and other documents required to be
delivered pursuant to clause (ii) above have been duly authorized, executed and delivered and constitute legally valid and binding and enforceable obligations (subject to customary qualifications and exceptions); provided that any Wholly
Owned Foreign Restricted Subsidiary that enters into a Guarantee of any Indebtedness of the Company or any Guarantor shall be required to become a Guarantor and satisfy clauses (i), (ii) and (iii) of this paragraph within 30 days of
entering into such Guarantee; provided further that (i) any Wholly Owned Domestic Restricted Subsidiary that constitutes an Immaterial Subsidiary or an Excluded Regulated Subsidiary need not become a Guarantor until such time as it
ceases to be an Immaterial Subsidiary or an Excluded Regulated Subsidiary, as applicable and (ii) neither GETCO Investments, LLC nor GETCO Strategic Investments, LLC shall be required to be a Guarantor until such time as it ceases to be an
“investment company” that is required to be registered under the Investment Company Act of 1940, as amended, and the rules and regulations of the SEC thereunder, as a result of being a Guarantor. 

Section 4.20 Designation of Restricted and Unrestricted Subsidiaries. 

The Board of Directors of the Company may designate any Restricted Subsidiary to be an Unrestricted Subsidiary if that designation would
not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as
Unrestricted will be deemed to be an Investment made as of the time of the designation and will reduce the amount available for Restricted Payments under Section 4.07 hereof or under one or more clauses of the definition of Permitted
Investments, as determined by the Company. That designation will only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. The Board of
Directors of the Company may redesignate any Unrestricted Subsidiary to be a Restricted Subsidiary if that redesignation would not cause a Default. 

  
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 Any designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be
evidenced to the Trustee by filing with the Trustee a certified copy of a resolution of the Board of Directors giving effect to such designation and an Officers’ Certificate certifying that such designation complied with the preceding
conditions and was permitted by Section 4.07 hereof. If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for
purposes of this Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and, if such Indebtedness is not permitted to be incurred as of such date under
Section 4.09 hereof, the Company will be in default of such covenant. The Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary; provided that such designation will be
deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary and such designation will only be permitted if (1) such Indebtedness is permitted under
Section 4.09 hereof, calculated on a pro forma basis as if such designation had occurred at the beginning of the four-quarter reference period; and (2) no Default or Event of Default would be in existence following such designation.

 Section 4.21 Activities Prior to the Escrow Release. 
 (a) Prior to the Escrow Release Date, the Company shall be a limited liability company and shall have no Subsidiaries. Prior to the Escrow Release Date, the Company shall not conduct any material
activities other than issuing the Notes on the date of this Indenture, issuing capital stock to, and receiving capital contributions from, GETCO or any of its Subsidiaries, performing its obligations in respect of the Notes issued on the date of
this Indenture, this Indenture and the Escrow Agreement, granting Liens in favor of the Holders of the Notes issued on the date of this Indenture, consummating the Transactions and the release of the Escrow Property in accordance with the Escrow
Agreement and redeeming the Notes issued on the date of this Indenture, if applicable, and conducting such other activities as are necessary or appropriate to carry out the activities described above. Prior to the Escrow Release Date, the Company
shall not own, hold or otherwise have any interest in any assets other than the Escrow Account, cash and Cash Equivalents. 

(b) Prior to the Escrow Release Date, the Company shall not engage in any business activity or enter into any transaction or agreement
(including, without limitation, making any Restricted Payment, incurring any debt other than the Notes issued on the date of this Indenture, incurring any Liens except in favor of the Holders of the Notes issued on the date of this Indenture,
entering into any merger, consolidation or sale of all or substantially all of its assets or engaging in any transaction with its Affiliates) except as is necessary to effectuate the Transactions substantially in accordance with the description of
the Transactions set forth in the Offering Memorandum, together with such amendments, modifications and waivers in connection therewith that are not, individually or in the aggregate, materially adverse to the Holders of the Notes issued on the date
of this Indenture. 
 Section 4.22 Covenant Compliance Prior to the Escrow Release. 

(a) To the extent Knight, GETCO or any Restricted Subsidiary has incurred Indebtedness, made any Restricted Payments, consummated any
Asset Sale or otherwise taken any action or engaged in any activities during the period beginning on the date of this Indenture and ending on the Escrow Release Date, other than, in each case, any incurrence, Restricted Payment, Asset Sale or other
action or activity necessary to effectuate the Transactions, such actions and activities shall be treated and classified under this Indenture (including but not limited to (i) impacting relevant baskets and (ii) determining whether a
Default or Event of Default would have occurred) as if this Indenture and the covenants set forth herein had applied to each of Knight and GETCO and their respective Restricted Subsidiaries during such period; provided that any such Default
or Event of Default shall not prevent a release of the Escrow 

  
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Property and no such Default or Event of Default shall be deemed to have occurred if such Default or Event of Default no longer exists on the Escrow Release Date. For purposes of the foregoing,
all Restricted Subsidiaries of Knight and GETCO shall be deemed to be Restricted Subsidiaries for the period from the date of this Indenture through the Escrow Release Date. 
 (b) Notwithstanding anything to the contrary herein, for all purposes of this Indenture, each transaction or event constituting part of the Transactions shall be deemed to have occurred and been effective
on the date of this Indenture as if it had occurred simultaneously with the issuance of the Notes issued on the date of this Indenture. 

Section 4.23 Grant of Security Interests 
 On the Escrow Release Date: 
 (a) The Company, the Guarantors, the Trustee and the
Collateral Agent, will enter into each of the Collateral Documents (other than the Escrow Agreement) defining the terms of the security interests that secure the Notes and the Note Guarantees. In connection therewith the Issuer and the Guarantors
shall take all actions necessary in order to cause the Collateral Agent (for the benefit of the Collateral Agent, the Trustee and the Holders) to have valid and perfected Liens on the Collateral that are second in priority only to the Company’s
First Lien Obligations, subject to Permitted Liens; 
 (b) The Company and the Guarantors shall take such further action and
execute and deliver such other documents specified in the Indenture Documents or as otherwise may be reasonably requested by the Trustee or Collateral Agent to give effect to Section 4.23(a); and 

(c) The Company and the Guarantors shall deliver to the Trustee and the Collateral Agent an Opinion of Counsel that (i) such
Collateral Documents have been duly authorized, executed and delivered by the Company and the Guarantors and constitute legal, valid, binding and enforceable obligations of the Company and the Guarantors, subject to customary qualifications and
limitations, and (ii) such Collateral Documents create valid and perfected Liens on the Collateral covered thereby, subject to Permitted Liens and customary qualifications and limitations. 

Section 4.24 Further Assurances. 
 The Company will do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register, as applicable, any and all such further acts, deeds, conveyances, security agreements,
assignments, financing statements and continuations thereof, termination statements, notices of assignment, transfers, certificates, assurances and other instruments as may be required from time to time in order to: 

(1) carry out the terms and provisions of the Collateral Documents; 

(2) subject to the Liens created by any of the Collateral Documents any of the properties, rights or interests required to
be encumbered thereby; 
 (3) perfect and maintain the validity, effectiveness and priority of any of the
Collateral Documents and the Liens intended to be created thereby; and 
 (4) assure, convey, grant, assign,
transfer, preserve, protect and confirm to the Collateral Agent any of the rights granted now or hereafter intended by the parties thereto to be granted to the Collateral Agent under the Collateral Documents or under any other material instrument
executed in connection herewith. 

  
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 Upon the exercise by the Trustee or any Holder of any power, right, privilege or remedy
under this Indenture, the Registration Rights Agreement, or any of the Collateral Documents which requires any consent, approval, recording, qualification or authorization of any governmental authority, the Company will execute and deliver all
applications, certifications, instruments and other documents and papers that may be required from the Company for such governmental consent, approval, recording, qualification or authorization. 

ARTICLE 5 

SUCCESSORS 
 Section 5.01
Merger, Consolidation, or Sale of Assets. 
 The Company shall not, directly or indirectly:
(i) consolidate or merge with or into another Person (whether or not the Company is the surviving corporation); or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of the
Company and its Restricted Subsidiaries taken as a whole, in one or more related transactions, to another Person, unless: 
 (1) either: 
 (A) the Company is the surviving corporation; or

 (B) the Person formed by or surviving any such consolidation or merger (if other than the Company) or to
which such sale, assignment, transfer, conveyance or other disposition has been made is a corporation organized or existing under the laws of the United States, any state of the United States or the District of Columbia; 

(2) the Person formed by or surviving any such consolidation or merger (if other than the Company) or the Person to which
such sale, assignment, transfer, conveyance or other disposition has been made assumes all the obligations of the Company under the Notes, this Indenture, the Registration Rights Agreement and the Collateral Documents pursuant to agreements
reasonably satisfactory to the Trustee; provided that in connection with the assumption by KCG Holdings, Inc. of all of the GETCO Financing Escrow LLC’s Obligations under the Notes and this Indenture upon consummation of the mergers
pursuant to the Agreement and Plan of Merger, KCG Holdings, Inc., the GETCO Financing Escrow LLC and the Trustee shall execute a supplemental indenture substantially in the form set forth in Exhibit G hereto; 

(3) immediately after such transaction, no Event of Default exists; and 

(4) immediately after giving pro forma effect to such transaction and any related financing transactions, as if such
transactions had occurred at the beginning of the applicable four-quarter period: 
 (A) the Company or the
Person formed by or surviving any such consolidation or merger (if other than the Company), or to which such sale, assignment, transfer, conveyance or other disposition has been made would be permitted to incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section 4.09(a) hereof; or 

  
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 (B) the Fixed Charge Coverage Ratio for the Company or the Person formed by
or surviving any such consolidation or merger (if other than the Company), or to which such sale, assignment, transfer, conveyance or other disposition has been made would be greater than or equal to the Fixed Charge Coverage Ratio of the Company
immediately prior to such transaction. 
 In addition, the Company will not, directly or indirectly, lease all or substantially
all of the properties and assets of it and its Restricted Subsidiaries taken as a whole, in one or more related transactions, to any other Person. Clauses (3) and (4) of this Section 5.01 will not apply to: 

(1) a merger of the Company with an Affiliate solely for the purpose of reincorporating the Company in another
jurisdiction; or 
 (2) any consolidation or merger, or any sale, assignment, transfer, conveyance, lease or
other disposition of assets between or among the Company and the Guarantors. 
 Section 5.02 Successor Corporation Substituted.

 Upon any consolidation or merger, or any sale, assignment, transfer, lease, conveyance or other disposition of all or
substantially all of the properties or assets of the Company in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof, the successor Person formed by such consolidation or into or with which the Company
is merged or to which such sale, assignment, transfer, lease, conveyance or other disposition is made shall succeed to, and be substituted for (so that from and after the date of such consolidation, merger, sale, assignment, transfer, lease,
conveyance or other disposition, the provisions of this Indenture referring to the “Company” shall refer instead to the successor Person and not to the Company), and may exercise every right and power of the Company under this Indenture
with the same effect as if such successor Person had been named as the Company herein; provided, however, that the predecessor Company shall not be relieved from the obligation to pay the principal of and interest on the Notes except
in the case of a sale of all of the Company’s assets in a transaction that is subject to, and that complies with the provisions of, Section 5.01 hereof. 
 ARTICLE 6 
 DEFAULTS AND REMEDIES 

Section 6.01 Events of Default. 
 Each of the following is an “Event of Default”: 

(1) default for 30 days in the payment when due of interest on, or Additional Interest, if any, with respect to, the
Notes; 
 (2) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or
premium, if any, on, the Notes; 
 (3) failure by the Company or any of its Restricted Subsidiaries to comply
with the provisions of Sections 4.10, 4.15 or 5.01 hereof; 
 (4) failure by the Company or any of its Restricted
Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with any of the other agreements in the Indenture
Documents; 

  
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 (5) default under any mortgage, indenture or instrument under which there
may be issued or by which there may be secured or evidenced any Material Indebtedness for money borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted
Subsidiaries), whether such Material Indebtedness or Guarantee now exists, or is created after the date of this Indenture, if that default: 
 (A) is caused by a failure to pay principal of, or interest or premium, if any, on, such Material Indebtedness prior to the expiration of the grace period provided in such Material Indebtedness on the
date of such default (a “Payment Default”); or 
 (B) results in the acceleration of such
Material Indebtedness prior to its express maturity; 
 (6) failure by the Company or any of its Restricted
Subsidiaries to pay final judgments entered by a court or courts of competent jurisdiction aggregating in excess of $35,000,000 (not covered by independent third-party insurance as to which liability has not been denied by such insurance carrier),
which judgments are not paid, discharged or stayed for a period of 60 days; 
 (7) except as expressly permitted
by this Indenture and the Collateral Documents, any of the Collateral Documents shall for any reason cease to be in full force and effect in all material respects, or the Company or a Guarantor shall so assert, or any security interest created, or
purported to be created, by any of the Collateral Documents with respect to Collateral exceeding $35,000,000 in Fair Market Value shall cease to be enforceable and of the same effect and priority purported to be created thereby, in each case for 30
days after notice to the Company by the trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class, except solely as a result of the Collateral Agent taking or refraining from taking
any action in its sole control; 
 (8) the repudiation by the Company or any Guarantor of any of its material
obligations under the Collateral Documents; 
 (9) except as permitted by this Indenture, any Note Guarantee is
held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms in writing its obligations under its Note
Guarantee; 
 (10) the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any
group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary pursuant to or within the meaning of Bankruptcy Law: 

(A) commences a voluntary case, 
 (B) consents to the entry of an order for relief against it in an involuntary case, 
 (C) consents to the appointment of a custodian of it or for all or substantially all of its property, 
 (D) makes a general assignment for the benefit of its creditors, or 
 (E) generally is not paying its debts as they become due; and 

  
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 (11) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (A) is for relief against the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary in an involuntary case; 

(B) appoints a custodian of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any
group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary or for all or substantially all of the property of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or
any group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary; or 
 (C) orders the liquidation of the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of Restricted Subsidiaries of the Company that, taken together, would
constitute a Significant Subsidiary; 
 and the order or decree remains unstayed and in effect for 60 consecutive days.

 Section 6.02 Acceleration. 
 In the case of an Event of Default specified in Section 6.01(10) or (11) hereof, with respect to the Company, any Restricted Subsidiary of the Company that is a Significant Subsidiary or any
group of Restricted Subsidiaries of the Company that, taken together, would constitute a Significant Subsidiary, all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and
is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. 

Upon any such declaration, the Notes shall become due and payable immediately. 

The Holders of a majority in aggregate principal amount of the then outstanding Notes by written notice to the Trustee may, on behalf of
all of the Holders, rescind an acceleration and its consequences, if the rescission would not conflict with any judgment or decree and if all existing Events of Default (except nonpayment of principal, interest or premium or Additional Interest, if
any, that has become due solely because of the acceleration) have been cured or waived. 
 In the event of any Event of Default
specified in clause (5) of Section 6.01, such Event of Default and all consequences thereof shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders of Notes, if within 30 days after such
Event of Default arose (x) the Indebtedness or Guarantee that is the basis for such Event of Default has been discharged; or (y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving
rise to such Event of Default; or (z) if the default that is the basis for such Event of Default has been cured. 

  
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 Section 6.03 Other Remedies. 

If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal, premium
and Additional Interest, if any, and interest on the Notes or to enforce the performance of any provision of the Notes or this Indenture. 
 The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder of a Note in
exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. All remedies are cumulative to the extent permitted by law. 

Section 6.04 Waiver of Past Defaults. 
 Holders of not less than a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may on behalf of the Holders of all of the Notes waive an existing Default or Event
of Default and its consequences hereunder, except a continuing Default or Event of Default in the payment of the principal of, premium and Additional Interest, if any, or interest on, the Notes (including in connection with an offer to purchase);
provided, however, that the Holders of a majority in aggregate principal amount of the then outstanding Notes may rescind an acceleration and its consequences, including any related payment default that resulted from such acceleration.
Upon any such waiver, such Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other Default or impair
any right consequent thereon. 
 Section 6.05 Control by Majority. 

Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the time, method and place of conducting any
proceeding for exercising any remedy available to the Trustee or exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture that the Trustee determines may be
unduly prejudicial to the rights of other Holders of Notes or that may involve the Trustee in personal liability. 
 Section 6.06
Limitation on Suits. 
 A Holder may pursue a remedy with respect to this Indenture or the Notes only if: 

(1) such Holder gives to the Trustee written notice that an Event of Default is continuing; 

(2) Holders of at least 25% in aggregate principal amount of the then outstanding Notes make a written request to the
Trustee to pursue the remedy; 
 (3) such Holder or Holders offer and, if requested, provide to the Trustee
security or indemnity reasonably satisfactory to the Trustee against any loss, liability or expense; 
 (4) the
Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or indemnity; and 
 (5) during such 60-day period, Holders of a majority in aggregate principal amount of the then outstanding Notes do not give the Trustee a direction inconsistent with such request.

  
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 Notwithstanding any provision of this Indenture to the contrary, no one or more Holders
shall have any right in any manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb, or prejudice the rights of any other of the Holders (it being understood that the Trustee does not have an affirmative
duty to ascertain whether or not such actions or forbearances are unduly prejudicial to such Holders). 
 Section 6.07 Rights of Holders
of Notes to Receive Payment. 
 Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to
receive payment of principal, premium and Additional Interest, if any, and interest on the Note, on or after the respective due dates expressed in the Note (including in connection with an offer to purchase), or to bring suit for the enforcement of
any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder; provided that a Holder shall not have the right to institute any such suit for the enforcement of payment if and to the
extent that the institution or prosecution thereof or the entry of judgment therein would, under applicable law, result in the surrender, impairment, waiver or loss of the Lien of this Indenture upon any property subject to such Lien. 

Section 6.08 Collection Suit by Trustee. 
 If an Event of Default specified in Section 6.01(1) or (2) hereof occurs and is continuing, the Trustee is authorized to recover judgment in its own name and as trustee of an express trust
against the Company for the whole amount of principal of, premium and Additional Interest, if any, and interest remaining unpaid on, the Notes and interest on overdue principal and, to the extent lawful, interest and such further amount as shall be
sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. 
 Section 6.09 Trustee May File Proofs of Claim. 
 The Trustee is
authorized to file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel) and the Holders of the Notes allowed in any judicial proceedings relative to the Company (or any other obligor upon the Notes), its creditors or its property and shall be entitled and empowered to collect, receive
and distribute any money or other property payable or deliverable on any such claims and any custodian in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee, and in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the
Trustee under Section 7.07 hereof. To the extent that the payment of any such compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 7.07 hereof out of
the estate in any such proceeding, shall be denied for any reason, payment of the same shall be secured by a Lien on, and shall be paid out of, any and all distributions, dividends, money, securities and other properties that the Holders may be
entitled to receive in such proceeding whether in liquidation or under any plan of reorganization or arrangement or otherwise. Nothing herein contained shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf
of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder, or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding. 

  
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 Section 6.10 Priorities. 

If the Trustee collects any money pursuant to this Article 6, it shall pay out the money in the following order: 

First: to the Trustee, its agents and attorneys for amounts due under Section 7.07 hereof, including payment
of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee and the costs and expenses of collection; 
 Second: to Holders of Notes for amounts due and unpaid on the Notes for principal, premium and Additional Interest, if any, and interest, ratably, without preference or priority of any kind,
according to the amounts due and payable on the Notes for principal, premium and Additional Interest, if any and interest, respectively; and 
 Third: to the Company or to such party as a court of competent jurisdiction shall direct. 
 The Trustee may fix a record date and payment date for any payment to Holders of Notes pursuant to this Section 6.10. 
 Section 6.11 Undertaking for Costs. 
 In any suit for the enforcement
of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as a Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs
of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party
litigant. This Section 6.11 does not apply to a suit by the Trustee, a suit by a Holder of a Note pursuant to Section 6.07 hereof, or a suit by Holders of more than 10% in aggregate principal amount of the then outstanding Notes.

 ARTICLE 7 
 TRUSTEE 
 Section 7.01 Duties of Trustee. 

(a) If an Event of Default has occurred and is continuing, the Trustee will exercise such of the rights and powers vested in it by this
Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. 

(b) Except during the continuance of an Event of Default: 

(1) the duties of the Trustee will be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and 

(2) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. 

  
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However, the Trustee will examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not confirm or investigate the accuracy of
mathematical calculations or other facts stated therein). 
 (c) The Trustee may not be relieved from liabilities for its own
negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (1) this
paragraph does not limit the effect of paragraph (b) of this Section 7.01; 
 (2) the Trustee will not
be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved that the Trustee was negligent in ascertaining the pertinent facts; 

(3) the Trustee will not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 6.05 hereof; and 
 (4) no provision of this Indenture shall
require the Trustee to expend or risk its own funds or otherwise incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing
that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. 
 (d)
Whether or not therein expressly so provided, every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b), and (c) of this Section 7.01. 

(e) The Trustee will not be liable for interest on any money received by it except as the Trustee may agree in writing with the Company.
Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
 Section 7.02 Rights
of Trustee. 
 (a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed
or presented by the proper Person. The Trustee need not investigate any fact or matter stated in the document. 
 (b) Before the
Trustee acts or refrains from acting, it may require an Officers’ Certificate or an Opinion of Counsel or both. The Trustee will not be liable for any action it takes or omits to take in good faith in reliance on such Officers’ Certificate
or Opinion of Counsel. The Trustee may consult with counsel and the advice of such counsel or any Opinion of Counsel will be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it
hereunder in good faith and in reliance thereon. 
 (c) The Trustee may act through its attorneys and agents and will not be
responsible for the misconduct or negligence of any agent appointed with due care. 
 (d) The Trustee will not be liable for any
action it takes or omits to take in good faith that it believes to be authorized or within the rights or powers conferred upon it by this Indenture. 
 (e) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Company will be sufficient if signed by an Officer of the Company. 

  
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 (f) The Trustee will be under no obligation to exercise any of the rights or powers vested
in it by this Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security against the losses, liabilities and expenses that might be incurred by it in compliance with
such request or direction. 
 (g) In no event shall the Trustee be responsible or liable for special, punitive, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. 

(h) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has
actual knowledge thereof or unless written notice of any event which is in fact such a default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. 

(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. 

(j) The Trustee may request that the Company deliver a certificate setting forth the names of individuals and/or titles of officers
authorized at such time to take specified actions pursuant to this Indenture. 
 (k) In no event shall the Trustee be
responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil
or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and hardware) services; it being understood that the Trustee shall use reasonable
efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 
 Section 7.03 Individual Rights of Trustee. 
 The Trustee in its
individual or any other capacity may become the owner or pledgee of Notes and may otherwise deal with the Company or any Affiliate of the Company with the same rights it would have if it were not Trustee. However, in the event that the Trustee
acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as trustee (if this Indenture has been qualified under the TIA) or resign. Any Agent may do the same with like rights and
duties. The Trustee is also subject to Sections 7.10 and 7.11 hereof. 
 Section 7.04 Trustee’s Disclaimer. 

The Trustee will not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it
shall not be accountable for the Company’s use of the proceeds from the Notes or any money paid to the Company or upon the Company’s direction under any provision of this Indenture, it will not be responsible for the use or application of
any money received by any Paying Agent other than the Trustee, and it will not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this
Indenture other than its certificate of authentication. 

  
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 Section 7.05 Notice of Defaults. 

If a Default or Event of Default occurs and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee
will mail to Holders of Notes a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium or Additional Interest, if any, or interest on, any
Note, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes. 

Section 7.06 Reports by Trustee to Holders of the Notes. 
 (a) Within 60 days after each June 15 beginning with June 15, 2014, and for so long as Notes remain outstanding, the Trustee will mail to the Holders of the Notes a brief report dated as of such
reporting date that complies with TIA § 313(a) (but if no event described in TIA § 313(a) has occurred within the twelve months preceding the reporting date, no report need be transmitted). The Trustee also will comply with TIA §
313(b)(2). The Trustee will also transmit by mail all reports as required by TIA §313(c). 
 (b) A copy of each report at
the time of its mailing to the Holders of Notes will be mailed by the Trustee to the Company and filed by the Trustee with the SEC and each stock exchange on which the Notes are listed in accordance with TIA § 313(d). The Company will promptly
notify the Trustee when the Notes are listed on any stock exchange. 
 Section 7.07 Compensation and Indemnity. 

(a) The Company will pay to the Trustee from time to time reasonable compensation for its acceptance of this Indenture and services
hereunder. The Trustee’s compensation will not be limited by any law on compensation of a trustee of an express trust. The Company will reimburse the Trustee promptly upon request for all reasonable disbursements, advances and expenses incurred
or made by it in addition to the compensation for its services. Such expenses will include the reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel. 

(b) The Company and the Guarantors will indemnify the Trustee (which for purposes of this Section 7.07(b) shall include its
officers, directors, employees and agents) against any and all losses, liabilities or expenses incurred by it arising out of or in connection with the acceptance or administration of its duties under this Indenture, including the costs and expenses
of enforcing this Indenture against the Company and the Guarantors (including this Section 7.07) and defending itself against any claim (whether asserted by the Company, the Guarantors, any Holder or any other Person) or liability in connection
with the exercise or performance of any of its powers or duties hereunder, except to the extent any such loss, liability or expense may be attributable to its negligence or willful misconduct. The Trustee will notify the Company promptly of any
claim for which it may seek indemnity. Failure by the Trustee to so notify the Company will not relieve the Company or any of the Guarantors of their obligations hereunder. The Company or such Guarantor will defend the claim and the Trustee will
cooperate in the defense. The Trustee may have separate counsel and the Company will pay the reasonable fees and expenses of such counsel. Neither the Company nor any Guarantor need pay for any settlement made without its consent, which consent will
not be unreasonably withheld. 
 (c) The obligations of the Company and the Guarantors under this Section 7.07 will survive
the satisfaction and discharge of this Indenture. 

  
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 (d) To secure the Company’s and the Guarantors’ payment obligations in this
Section 7.07, the Trustee will have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien will survive the satisfaction and
discharge of this Indenture. 
 (e) When the Trustee incurs expenses or renders services after an Event of Default specified in
clause (10) or (11) of Section 6.01 hereof occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any
Bankruptcy Law. 
 (f) The Trustee will comply with the provisions of TIA § 313(b)(2) to the extent applicable. 

Section 7.08 Replacement of Trustee. 
 (a) A resignation or removal of the Trustee and appointment of a successor Trustee will become effective only upon the successor Trustee’s acceptance of appointment as provided in this
Section 7.08. 
 (b) The Trustee may resign in writing at any time and be discharged from the trust hereby created by so
notifying the Company. The Holders of a majority in aggregate principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Company in writing. The Company may remove the Trustee if: 

(1) the Trustee fails to comply with Section 7.10 hereof; 

(2) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under
any Bankruptcy Law; 
 (3) a custodian or public officer takes charge of the Trustee or its property; or

 (4) the Trustee becomes incapable of acting. 

(c) If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Company will promptly
appoint a successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in aggregate principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed
by the Company. 
 (d) If a successor Trustee does not take office within 30 days after the retiring Trustee resigns or is
removed, the retiring Trustee, the Company, or the Holders of at least 10% in aggregate principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. 

(e) If the Trustee, after written request by any Holder who has been a Holder for at least six months, fails to comply with
Section 7.10 hereof, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 (f) A successor Trustee will deliver a written acceptance of its appointment to the retiring Trustee and to the Company. Thereupon, the resignation or removal of the retiring Trustee will become
effective, and the successor Trustee will have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee will mail a notice of its succession to Holders. The retiring Trustee will promptly transfer all property
held by it as Trustee to the successor Trustee; provided all sums owing to 

  
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the Trustee hereunder have been paid and subject to the Lien provided for in Section 7.07 hereof. Notwithstanding replacement of the Trustee pursuant to this Section 7.08, the
Company’s obligations under Section 7.07 hereof will continue for the benefit of the retiring Trustee. 
 Section 7.09
Successor Trustee by Merger, etc. 
 If the Trustee consolidates, merges or converts into, or transfers all or
substantially all of its corporate trust business to, another corporation, the successor corporation without any further act will be the successor Trustee. 
 Section 7.10 Eligibility; Disqualification. 
 There will at all times
be a Trustee hereunder that is a corporation organized and doing business under the laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision
or examination by federal or state authorities and that has a combined capital and surplus of at least $100,000,000 as set forth in its most recent published annual report of condition. 

This Indenture will always have a Trustee who satisfies the requirements of TIA § 310(a)(1), (2) and (5). The Trustee is
subject to TIA § 310(b). 
 Section 7.11 Preferential Collection of Claims Against Company. 

The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned
or been removed shall be subject to TIA § 311(a) to the extent indicated therein. 
 ARTICLE 8 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 Section 8.01 Option to Effect Legal Defeasance or Covenant Defeasance. 

The Company may at any time, at the option of its Board of Directors evidenced by a resolution set forth in an Officers’ Certificate,
elect to have either Section 8.02 or 8.03 hereof be applied to all outstanding Notes upon compliance with the conditions set forth below in this Article 8. 
 Section 8.02 Legal Defeasance and Discharge. 
 Upon the Company’s
exercise under Section 8.01 hereof of the option applicable to this Section 8.02, the Company and each of the Guarantors will, subject to the satisfaction of the conditions set forth in Section 8.04 hereof, be deemed to have been
discharged from their obligations with respect to all outstanding Notes (including the Note Guarantees) on the date the conditions set forth below are satisfied (hereinafter, “Legal Defeasance”). For this purpose, Legal Defeasance
means that the Company and the Guarantors will be deemed to have paid and discharged the entire Indebtedness represented by the outstanding Notes (including the Note Guarantees), which will thereafter be deemed to be “outstanding” only for
the purposes of Section 8.05 hereof and the other Sections of this Indenture referred to in clauses (1) and (2) below, and to have satisfied all their other obligations under such Notes, the Note Guarantees and this Indenture (and the
Trustee, on demand of and at the expense of the Company, shall execute proper instruments acknowledging the same), except for the following provisions which will survive until otherwise terminated or discharged hereunder: 

(1) the rights of Holders of outstanding Notes to receive payments in respect of the principal of, or interest or premium
and Additional Interest, if any, on, such Notes when such payments are due from the trust referred to in Section 8.04 hereof; 

  
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 (2) the Company’s obligations with respect to such Notes under
Article 2 and Section 4.02 hereof; 
 (3) the rights, powers, trusts, duties and immunities of the
Trustee hereunder and the Company’s and the Guarantors’ obligations in connection therewith; and 

(4) this Article 8. 
 Subject to compliance with this Article 8, the Company may exercise its option under this Section 8.02 notwithstanding the prior exercise of its option under Section 8.03 hereof. 

Section 8.03 Covenant Defeasance. 
 Upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, the Company and each of the Guarantors will, subject to the satisfaction of the
conditions set forth in Section 8.04 hereof, be released from each of their obligations under the covenants contained in Sections 4.07, 4.08, 4.09, 4.10, 4.11, 4.12, 4.13, 4.15, 4.16, 4.17, 4.18, 4.19, 4.20, 4.23 and 4.24 hereof and clause
(4) of Section 5.01 hereof with respect to the outstanding Notes on and after the date the conditions set forth in Section 8.04 hereof are satisfied (hereinafter, “Covenant Defeasance”), and the Notes will thereafter
be deemed not “outstanding” for the purposes of any direction, waiver, consent or declaration or act of Holders (and the consequences of any thereof) in connection with such covenants, but will continue to be deemed “outstanding”
for all other purposes hereunder (it being understood that such Notes will not be deemed outstanding for accounting purposes). For this purpose, Covenant Defeasance means that, with respect to the outstanding Notes and Note Guarantees, the Company
and the Guarantors may omit to comply with and will have no liability in respect of any term, condition or limitation set forth in any such covenant, whether directly or indirectly, by reason of any reference elsewhere herein to any such covenant or
by reason of any reference in any such covenant to any other provision herein or in any other document and such omission to comply will not constitute a Default or an Event of Default under Section 6.01 hereof, but, except as specified above,
the remainder of this Indenture and such Notes and Note Guarantees will be unaffected thereby. In addition, upon the Company’s exercise under Section 8.01 hereof of the option applicable to this Section 8.03, subject to the
satisfaction of the conditions set forth in Section 8.04 hereof, Sections 6.01(3) through 6.01(5) hereof will not constitute Events of Default. 
 Section 8.04 Conditions to Legal or Covenant Defeasance. 
 In order to
exercise either Legal Defeasance or Covenant Defeasance under either Section 8.02 or 8.03 hereof: 
 (1) the
Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in amounts as
will be sufficient, in the opinion of a nationally recognized investment bank, appraisal firm, or firm of independent public accountants, to pay the principal of, or interest, premium and Additional Interest, if any, on, the outstanding Notes on the
stated date for payment thereof or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date; 

  
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 (2) in the case of an election under Section 8.02 hereof, the Company
must deliver to the Trustee an Opinion of Counsel confirming that: 
 (A) the Company has received from, or
there has been published by, the Internal Revenue Service a ruling; or 
 (B) since the date of this Indenture,
there has been a change in the applicable federal income tax law, 
 in either case to the effect that, and based thereon such
Opinion of Counsel shall confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred; 

(3) in the case of an election under Section 8.03 hereof, the Company must deliver to the Trustee an Opinion of
Counsel confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same
manner and at the same times as would have been the case if such Covenant Defeasance had not occurred; 
 (4) no
Default or Event of Default shall have occurred and be continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit and the granting of Liens to secure such
borrowing) and the deposit will not result in a breach or violation of, or constitute a default under, any other material instrument to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 

(5) such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default
under, any material agreement or instrument (other than this Indenture) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound; 

(6) the Company must deliver to the Trustee an Officers’ Certificate stating that the deposit was not made by the
Company with the intent of preferring the Holders of Notes over the other creditors of the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and 

(7) the Company must deliver to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that all
conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with. 
 Section 8.05 Deposited
Money and Government Securities to be Held in Trust; Other Miscellaneous Provisions. 
 Subject to Section 8.06 hereof,
all money and non-callable Government Securities (including the proceeds thereof) deposited with the Trustee (or other qualifying trustee, collectively for purposes of this Section 8.05, the “Trustee”) pursuant to
Section 8.04 hereof in respect of the outstanding Notes will be held in trust and applied by the Trustee, in accordance with the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including
the Company acting as 

  
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Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and to become due thereon in respect of principal, premium and Additional Interest, if any, and interest,
but such money need not be segregated from other funds except to the extent required by law. 
 The Company will pay and
indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or non-callable Government Securities deposited pursuant to Section 8.04 hereof or the principal and interest received in respect thereof other
than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes. 

Notwithstanding anything in this Article 8 to the contrary, the Trustee will deliver or pay to the Company from time to time upon the
request of the Company any money or non-callable Government Securities held by it as provided in Section 8.04 hereof which, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification
thereof delivered to the Trustee (which may be the opinion delivered under Section 8.04(1) hereof), are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Legal Defeasance or Covenant Defeasance.

 Section 8.06 Repayment to Company. 
 Any money deposited with the Trustee or any Paying Agent, or then held by the Company, in trust for the payment of the principal of, premium or Additional Interest, if any, or interest on, any Note and
remaining unclaimed for two years after such principal, premium or Additional Interest, if any, or interest has become due and payable shall be paid to the Company on its request or (if then held by the Company) will be discharged from such trust;
and the Holder of such Note will thereafter be permitted to look only to the Company for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof,
will thereupon cease; provided, however, that the Trustee or such Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in The New York Times and The Wall Street
Journal (national edition), notice that such money remains unclaimed and that, after a date specified therein, which will not be less than 30 days from the date of such notification or publication, any unclaimed balance of such money then remaining
will be repaid to the Company. 
 Section 8.07 Reinstatement. 

If the Trustee or Paying Agent is unable to apply any U.S. dollars or non-callable Government Securities in accordance with
Section 8.02 or 8.03 hereof, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s and the Guarantors’
obligations under this Indenture and the Notes and the Note Guarantees will be revived and reinstated as though no deposit had occurred pursuant to Section 8.02 or 8.03 hereof until such time as the Trustee or Paying Agent is permitted to apply
all such money in accordance with Section 8.02 or 8.03 hereof, as the case may be; provided, however, that, if the Company makes any payment of principal of, premium or Additional Interest, if any, or interest on, any Note
following the reinstatement of its obligations, the Company will be subrogated to the rights of the Holders of such Notes to receive such payment from the money held by the Trustee or Paying Agent. 

  
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 ARTICLE 9 
 AMENDMENT, SUPPLEMENT AND WAIVER 
 Section 9.01 Without Consent of Holders of Notes.

 Notwithstanding Section 9.02 of this Indenture, the Company, the Guarantors and the Trustee may amend or supplement
the Indenture Documents without the consent of any Holder of Note: 
 (1) to cure any ambiguity, defect or
inconsistency; 
 (2) to provide for uncertificated Notes in addition to or in place of certificated Notes;

 (3) to provide for the assumption of the Company’s or a Guarantor’s obligations to the Holders of
the Notes and Note Guarantees by a successor to the Company or such Guarantor pursuant to Article 5 or Article 10 hereof; 
 (4) to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights hereunder of any Holder; 

(5) to comply with requirements of the SEC in order to effect or maintain the qualification of this Indenture under the
TIA; 
 (6) to conform the text of the Indenture Documents to any provision of the “Description of the
Notes” section of the Offering Memorandum, to the extent that such provision in that “Description of the Notes” was intended to be a verbatim recitation of a provision thereof, as evidenced by an Officers’ Certificate;

 (7) to provide for the issuance of Additional Notes in accordance with the limitations set forth in this
Indenture as of the date hereof; 
 (8) to evidence and provide for the acceptance and appointment under this
Indenture of a successor trustee pursuant to the requirements hereof; 
 (9) to allow any Guarantor to execute a
supplemental indenture and/or a Note Guarantee with respect to the Notes or to release a Guarantor from its Note Guarantee in accordance with the terms of this Indenture; or 

(10) to enter into additional or supplemental Collateral Documents or to release Collateral from the Lien of this
Indenture or the Collateral Documents in accordance with the terms of this Indenture and the Collateral Documents. 
 Upon the
request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee
will join with the Company and the Guarantors in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make any further appropriate agreements and stipulations that may be therein
contained, but the Trustee will not be obligated to enter into such amended or supplemental indenture that affects its own rights, duties or immunities under this Indenture or otherwise. 

  
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 Section 9.02 With Consent of Holders of Notes. 

Except as provided below in this Section 9.02, the Company and the Trustee may amend or supplement the Indenture Documents
(including, without limitation, Sections 3.09, 4.10 and 4.15 hereof) and the Notes and the Note Guarantees with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes (including, without
limitation, Additional Notes, if any) voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes), and, subject to Sections 6.04 and 6.07 hereof, any
existing Default or Event of Default (other than a Default or Event of Default in the payment of the principal of, premium or Additional Interest, if any, or interest on, the Notes, except a payment default resulting from an acceleration that has
been rescinded) or compliance with any provision of the Indenture Documents may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes (including, without limitation, Additional Notes, if
any) voting as a single class (including, without limitation, consents obtained in connection with a tender offer or exchange offer for, or purchase of, the Notes). 
 Upon the request of the Company accompanied by a resolution of its Board of Directors authorizing the execution of any such amended or supplemental indenture, and upon the filing with the Trustee of
evidence satisfactory to the Trustee of the consent of the Holders of Notes as aforesaid, and upon receipt by the Trustee of the documents described in Section 7.02 hereof, the Trustee will join with the Company and the Guarantors in the
execution of such amended or supplemental indenture unless such amended or supplemental indenture directly affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in its
discretion, but will not be obligated to, enter into such amended or supplemental Indenture. 
 It is not be necessary for the
consent of the Holders of Notes under this Section 9.02 to approve the particular form of any proposed amendment, supplement or waiver, but it is sufficient if such consent approves the substance thereof. 

After an amendment, supplement or waiver under this Section 9.02 becomes effective, the Company will mail to the Holders of Notes
affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Company to mail such notice, or any defect therein, will not, however, in any way impair or affect the validity of any such amended or supplemental
indenture or waiver. Subject to Sections 6.04 and 6.07 hereof, the Holders of a majority in aggregate principal amount of the Notes then outstanding voting as a single class may waive compliance in a particular instance by the Company with any
provision of the Indenture Documents. However, without the consent of each Holder affected, an amendment, supplement or waiver under this Section 9.02 may not (with respect to any Notes held by a non-consenting Holder): 

(1) reduce the principal amount of Notes whose Holders must consent to an amendment, supplement or waiver; 

(2) reduce the principal of or change the fixed maturity of any Note or alter the provisions with respect to the
redemption of the Notes (except as provided above with respect to Sections 3.09, 4.10 and 4.15 hereof); 
 (3)
reduce the rate of or change the time for payment of interest, including default interest, on any Note; 
 (4)
waive a Default or Event of Default in the payment of principal of, or interest, premium or Additional Interest, if any, on, the Notes (except a rescission of acceleration of the Notes by the Holders of at least a majority in aggregate principal
amount of the then outstanding Notes and a waiver of the payment default that resulted from such acceleration); 

  
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 (5) make any Note payable in money other than that stated in the Notes;

 (6) make any change in the provisions of this Indenture relating to waivers of past Defaults or the rights of
Holders of Notes to receive payments of principal of, or interest or premium or Additional Interest, if any, on, the Notes; 
 (7) waive a redemption payment with respect to any Note (other than a payment required by Sections 3.09, 4.10 or 4.15 hereof); 

(8) release any Guarantor from any of its obligations under its Note Guarantee or this Indenture, except in accordance
with the terms of this Indenture; 
 (9) change the ranking of the Notes or the Note Guarantees in a manner that
adversely affects the rights of the Holders of the Notes; or 
 (10) make any change in the preceding amendment
and waiver provisions. 
 In addition, without the consent of the Holders of at least 66 2/3% in principal amount of the Notes then outstanding, no amendment, supplement or waiver may release all or substantially all of the Collateral other than in accordance with the Indenture Documents.

 Section 9.03 Compliance with Trust Indenture Act. 
 Every amendment or supplement to this Indenture or the Notes will be set forth in an amended or supplemental indenture that complies with the TIA as then in effect. 

Section 9.04 Revocation and Effect of Consents. 
 Until an amendment, supplement or waiver becomes effective, a consent to it by a Holder of a Note is a continuing consent by the Holder of a Note and every subsequent Holder of a Note or portion of a Note
that evidences the same debt as the consenting Holder’s Note, even if notation of the consent is not made on any Note. However, any such Holder of a Note or subsequent Holder of a Note may revoke the consent as to its Note if the Trustee
receives written notice of revocation before the date the amendment, supplement or waiver becomes effective. An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder. 

Section 9.05 Notation on or Exchange of Notes. 
 The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Company in exchange for all Notes may issue and the Trustee shall, upon
receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. 
 Failure to make
the appropriate notation or issue a new Note will not affect the validity and effect of such amendment, supplement or waiver. 

  
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 Section 9.06 Trustee to Sign Amendments, etc. 

The Trustee will sign any amended or supplemental indenture authorized pursuant to this Article 9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Company may not sign an amended or supplemental indenture until the Board of Directors of the Company approves it. In executing any amended or supplemental indenture,
the Trustee will be entitled to receive and (subject to Section 7.01 hereof) will be fully protected in relying upon, in addition to the documents required by Section 13.04 hereof, an Officers’ Certificate and an Opinion of Counsel
stating that the execution of such amended or supplemental indenture is authorized or permitted by this Indenture. 
 ARTICLE 10

 COLLATERAL AND SECURITY 
 Section 10.01. Collateral Documents. 
 The due and punctual payment of
the principal of and interest and Additional Interest, if any, on the Notes when and as the same shall be due and payable, whether on an interest payment date, at maturity, by acceleration, repurchase, redemption or otherwise, and interest on the
overdue principal of and interest and Additional Interest (to the extent permitted by law), if any, on the Notes and performance of all other obligations of the Company and the Guarantors to the Holders of Notes or the Trustee under this Indenture
and the Notes, according to the terms hereunder or thereunder, will be secured as provided in the Collateral Documents, which, except for the Escrow Agreement, will be entered into on the Escrow Release Date. Each Holder of Notes, by its acceptance
thereof, consents and agrees to the terms of this Indenture and the terms of the Collateral Documents (including, without limitation, the provisions providing for foreclosure and release of Collateral) as the same may be in effect or may be amended
from time to time in accordance with its terms and authorizes and directs the Collateral Agent (and the Trustee, if applicable) to enter into the Collateral Documents on the date hereof, in the case of the Escrow Agreement, and otherwise on the
Escrow Release Date and, upon entry therein, to perform its obligations and exercise its rights thereunder in accordance therewith. The Company will deliver to the Trustee copies of all documents delivered to the Collateral Agent pursuant to the
Collateral Documents, and will do or cause to be done all such acts and things as may be necessary or proper, or as may be required by the provisions of the Collateral Documents, to assure and confirm to the Trustee and the Collateral Agent the
security interest in the Collateral contemplated hereby, by the Collateral Documents or any part thereof, as from time to time constituted, so as to render the same available for the security and benefit of this Indenture and of the Notes secured
hereby, according to the intent and purposes herein expressed. On and after the entry into the Collateral Documents, the Company will take, and will cause its Subsidiaries to take, upon request of the Trustee, any and all actions reasonably required
to cause the Collateral Documents to create and maintain, as security for the Obligations of the Company hereunder, a valid and enforceable perfected Lien in and on all the Collateral, in favor of the Collateral Agent for the benefit of the Holders
of Notes, that are second in priority only to the Company’s First Lien Obligations, subject to Permitted Liens. 
 Section 10.02.
Recording and Opinions. 
 (a) The Company will furnish to the Collateral Agent and the Trustee on June 5 in each year
beginning with June 5, 2014, an Opinion of Counsel, dated as of such date, either: 
 (1) (A) stating
that, in the opinion of such counsel, action has been taken with respect to the recording, registering, filing, re-recording, re-registering and re-filing of all supplemental indentures, financing statements, continuation statements or other
instruments of 

  
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further assurance as is necessary to maintain the Lien of the Collateral Documents and reciting with respect to the security interests in the Collateral the details of such action or referring to
prior Opinions of Counsel in which such details are given, and (B) stating that, in the opinion of such counsel, based on relevant laws as in effect on the date of such Opinion of Counsel, all financing statements and continuation statements
have been executed and filed that are necessary as of such date and during the succeeding 12 months fully to preserve and protect, to the extent such protection and preservation are possible by filing, the rights of the Holders of Notes and the
Collateral Agent and the Trustee hereunder and under the Collateral Documents with respect to the security interests in the Collateral; 
 (2) stating that, in the opinion of such counsel, no such action is necessary to maintain such Lien and assignment. 
 (b) The Company will otherwise comply with the provisions of TIA §314. 

Section 10.03. Release of Collateral. 
 (a) Collateral may be released from the Lien and security interest created by the Collateral Documents at any time or from time to time in accordance with the provisions of the Collateral Documents.

 (b) To the extent applicable, the Company will cause TIA §313(b), relating to reports, and TIA §314(d), relating to
the release of property or securities or relating to the substitution therefor of any property or securities to be subjected to the Lien of the Collateral Documents, to be complied with. Any certificate or opinion required by TIA §314(d) may be
made by an authorized officer of the Company except in cases where TIA §314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an independent engineer, appraiser or other expert selected or
reasonably satisfactory to the Trustee. Notwithstanding anything to the contrary in this paragraph, the Company will not be required to comply with all or any portion of TIA §314(d) if it determines, in good faith based on advice of counsel,
that under the terms of TIA §314(d) and/or any interpretation or guidance as to the meaning thereof of the SEC and its staff, including “no action” letters or exemptive orders, all or any portion of TIA §314(d) is inapplicable to
the released Collateral. 
 Section 10.04. Certificates of the Company. 

The Company will furnish to the Trustee and the Collateral Agent, prior to each proposed release of Collateral pursuant to the Collateral
Documents that is not automatic under the terms of such Collateral Documents: 
 (1) all documents required by
TIA §314(d); and 
 (2) an Opinion of Counsel, which may be rendered by internal counsel to the Company, to
the effect that such accompanying documents constitute all documents required by TIA §314(d). 
 The Trustee may, to the
extent permitted by Sections 7.01 and 7.02 hereof, accept as conclusive evidence of compliance with the foregoing provisions the appropriate statements contained in such documents and such Opinion of Counsel. 

  
 100

 Section 10.05. Certificates of the Trustee. 

In the event that the Company wishes to release Collateral in accordance with the Collateral Documents and has delivered the certificates
and documents required by the Collateral Documents and Sections 10.03 and 10.04 hereof, the Trustee will determine whether it has received all documentation required by TIA § 314(d) in connection with such release and, based on such
determination and the Opinion of Counsel delivered pursuant to Section 10.04(2) hereof, will direct the Collateral Agent to release the Collateral. 
 Section 10.06. Authorization of Actions to Be Taken by the Trustee Under the Collateral Documents. 
 Subject to the provisions of Section 7.01 and 7.02 hereof, the Trustee may (but shall have no obligation to do so), in its sole discretion and without the consent of the Holders of Notes, direct, on
behalf of the Holders of Notes, the Collateral Agent to, take all actions it deems necessary or appropriate in order to: 
 (1) enforce any of the terms of the Collateral Documents; and 
 (2)
collect and receive any and all amounts payable in respect of the Obligations of the Company hereunder. 
 The Trustee will have
power to institute and maintain such suits and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts that may be unlawful or in violation of the Collateral Documents or this Indenture, and such suits and
proceedings as the Trustee may deem expedient to preserve or protect its interests and the interests of the Holders of Notes in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or
compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the security interest hereunder or
be prejudicial to the interests of the Holders of Notes or of the Trustee). 
 Section 10.07. Authorization of Receipt of Funds by the
Trustee Under the Collateral Documents. 
 The Trustee is authorized to receive any funds for the benefit of the Holders of
Notes distributed under the Collateral Documents, and to make further distributions of such funds to the Holders of Notes according to the provisions of this Indenture. 
 Section 10.08. Termination of Security Interest. 
 Upon the payment in
full of all Obligations of the Company under this Indenture and the Notes, or upon Legal Defeasance or Covenant Defeasance or satisfaction and discharge of this Indenture in accordance with Article 12 or upon receipt of the consent of Holders of the
requisite percentage of Notes in accordance with Article 9, the Trustee will, at the request of the Company, deliver a certificate to the Collateral Agent stating that such Obligations have been paid in full, and instruct the Collateral Agent to
release the Liens pursuant to this Indenture and the Collateral Documents. 
 ARTICLE 11 

NOTE GUARANTEES 

Section 11.01 Guarantee. 
 (a) Subject to this Article 11, following the Escrow Release Date, each of the Guarantors hereby, jointly and severally, unconditionally guarantees to each Holder of a Note authenticated and

  
 101

 
delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the Company
hereunder or thereunder, that: 
 (1) the principal of, premium and Additional Interest, if any, and interest on,
the Notes will be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Company to the
Holders or the Trustee hereunder or thereunder will be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and 
 (2) in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same will be promptly paid in full when due or performed in accordance with the terms of the
extension or renewal, whether at stated maturity, by acceleration or otherwise. 
 Failing payment when due of any amount so
guaranteed or any performance so guaranteed for whatever reason, the Guarantors will be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a guarantee of payment and not a guarantee of collection.

 (b) The Guarantors hereby agree that their obligations hereunder are unconditional, irrespective of the validity, regularity
or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in
the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and covenant that this Note Guarantee will not be discharged except by complete performance
of the obligations contained in the Notes and this Indenture. 
 (c) If any Holder or the Trustee is required by any court or
otherwise to return to the Company, the Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Company or the Guarantors, any amount paid by either to the Trustee or such Holder, this Note
Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect. 
 (d) Each Guarantor agrees that
it will not be entitled to any right of subrogation in relation to the Holders in respect of any obligations guaranteed hereby until payment in full of all obligations guaranteed hereby. Each Guarantor further agrees that, as between the Guarantors,
on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the obligations guaranteed hereby may be accelerated as provided in Article 6 hereof for the purposes of this Note Guarantee, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (2) in the event of any declaration of acceleration of such obligations as provided in Article 6 hereof, such obligations (whether
or not due and payable) will forthwith become due and payable by the Guarantors for the purpose of this Note Guarantee. The Guarantors will have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does
not impair the rights of the Holders under the Note Guarantee. 
 Section 11.02 Limitation on Guarantor Liability. 

Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Note
Guarantee of such Guarantor not constitute a fraudulent transfer 

  
 102

 
or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Note
Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of such Guarantor will be limited to the maximum amount that will, after giving effect to such maximum amount
and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other Guarantor in
respect of the obligations of such other Guarantor under this Article 11, result in the obligations of such Guarantor under its Note Guarantee not constituting a fraudulent transfer or conveyance. 

Section 11.03 Execution and Delivery of Note Guarantee. 
 To evidence its Note Guarantee set forth in Section 11.01 hereof, each Guarantor hereby agrees that a notation of such Note Guarantee substantially in the form attached as Exhibit E hereto will be
endorsed by an Officer of such Guarantor on each Note authenticated and delivered by the Trustee and that this Indenture will be executed on behalf of such Guarantor by one of its Officers. 

Each Guarantor hereby agrees that its Note Guarantee set forth in Section 11.01 hereof will remain in full force and effect
notwithstanding any failure to endorse on each Note a notation of such Note Guarantee. 
 If an Officer whose signature is on
this Indenture or on the Note Guarantee no longer holds that office at the time the Trustee authenticates the Note on which a Note Guarantee is endorsed, the Note Guarantee will be valid nevertheless. 

The delivery of any Note by the Trustee, after the authentication thereof hereunder, will constitute due delivery of the Note Guarantee
set forth in this Indenture on behalf of the Guarantors. 
 In the event that the Company or any of its Restricted Subsidiaries
creates or acquires any Wholly Owned Domestic Restricted Subsidiary after the date of this Indenture, if required by Section 4.19 hereof, the Company will cause such Wholly Owned Domestic Restricted Subsidiary to comply with the provisions of
Section 4.19 hereof and this Article 11, to the extent applicable. 
 Section 11.04 Guarantors May Consolidate, etc.,
on Certain Terms. 
 Except as otherwise provided in Section 11.05 hereof, no Guarantor may sell or otherwise dispose of
all or substantially all of its assets to, or consolidate with or merge with or into (whether or not such Guarantor is the surviving Person) another Person, other than the Company or another Guarantor, unless: 

(1) immediately after giving effect to such transaction, no Default or Event of Default exists; and 

(2) either: 
 (a) subject to Section 11.05 hereof, the Person acquiring the property in any such sale or disposition or the Person formed by or surviving any such consolidation or merger unconditionally assumes
all the obligations of that Guarantor under this Indenture, its Note Guarantee, the Registration Rights Agreement and appropriate Collateral Documents; or 

  
 103

 (b) the Net Proceeds (other than Excluded Net Proceeds) of such sale or
other disposition are applied in accordance with the applicable provisions of this Indenture, including without limitation, Section 4.10 hereof. 
 In case of any such consolidation, merger, sale or conveyance and upon the assumption by the successor Person, by supplemental indenture, executed and delivered to the Trustee and satisfactory in form to
the Trustee, of the Note Guarantee endorsed upon the Notes and the due and punctual performance of all of the covenants and conditions of this Indenture to be performed by the Guarantor, such successor Person will succeed to and be substituted for
the Guarantor with the same effect as if it had been named herein as a Guarantor. Such successor Person thereupon may cause to be signed any or all of the Note Guarantees to be endorsed upon all of the Notes issuable hereunder which theretofore
shall not have been signed by the Company and delivered to the Trustee. All the Note Guarantees so issued will in all respects have the same legal rank and benefit under this Indenture as the Note Guarantees theretofore and thereafter issued in
accordance with the terms of this Indenture as though all of such Note Guarantees had been issued at the date of the execution hereof. 
 Except as set forth in Articles 4 and 5 hereof, and notwithstanding clauses 2(a) and (b) above, nothing contained in this Indenture or in any of the Notes will prevent any consolidation or merger of
a Guarantor with or into the Company or another Guarantor, or will prevent any sale or conveyance of the property of a Guarantor as an entirety or substantially as an entirety to the Company or another Guarantor. 

Section 11.05 Releases. 
 The Note Guarantee of a Guarantor will be automatically and unconditionally released: 
 (a) in connection with any sale or other disposition of all or substantially all of the assets of that Guarantor (including by way of merger or consolidation) to a Person that is not (either before or
after giving effect to such transaction) the Company or a Restricted Subsidiary of the Company, if the sale or other disposition does not violate the provisions of Section 4.10 hereof; 

(b) in connection with any sale or other disposition of all of the Capital Stock of that Guarantor to a Person that is not (either before
or after giving effect to such transaction) the Company or a Restricted Subsidiary of the Company, if the sale or other disposition does not violate the provisions of Section 4.10 hereof; 

(c) if the Company designates any Restricted Subsidiary that is a Guarantor to be an Unrestricted Subsidiary in accordance with the
applicable provisions of this Indenture, including, without limitation, Section 4.20 hereof; 
 (d) if that Guarantor
becomes an Immaterial Subsidiary, a Foreign Subsidiary or an Excluded Regulated Subsidiary; 
 (e) if that Guarantor is released
or discharged of its guarantee of Indebtedness under the guarantee that resulted in the obligation of such Guarantor to provide a Note Guarantee if such Subsidiary Guarantor would not then otherwise be required to provide a Note Guarantee;

 (f) upon the liquidation or dissolution of such Guarantor; provided that no Default or Event of Default shall occur as
a result thereof or has occurred and is continuing; or 
 (g) upon Legal Defeasance in accordance with Article 8 hereof or
satisfaction and discharge of this Indenture in accordance with Article 12 hereof. 

  
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 Any Guarantor not released from its obligations under its Note Guarantee as provided in this
Section 11.05 will remain liable for the full amount of principal of and interest and premium and Additional Interest, if any, on the Notes and for the other obligations of any Guarantor under this Indenture as provided in this Article 11.

 ARTICLE 12 
 SATISFACTION AND DISCHARGE 
 Section 12.01 Satisfaction and Discharge. 

This Indenture will be discharged and will cease to be of further effect as to all Notes issued hereunder, when: 

(1) either: 
 (a) all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in trust and thereafter repaid to
the Company, have been delivered to the Trustee for cancellation; or 
 (b) all Notes that have not been
delivered to the Trustee for cancellation have become due and payable by reason of the mailing of a notice of redemption or otherwise or will become due and payable within one year and the Company or any Guarantor has irrevocably deposited or caused
to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, non-callable Government Securities, or a combination of cash in U.S. dollars and non-callable Government Securities, in such
amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal, premium, and Additional Interest, if any,
and accrued interest to the date of maturity or redemption; 
 (2) no Default or Event of Default has occurred
and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit and the granting of Liens to secure such borrowing) and the deposit will not result in a
breach or violation of, or constitute a default under, any other instrument to which the Company or any Guarantor is a party or by which the Company or any Guarantor is bound; 

(3) the Company or any Guarantor has paid or caused to be paid all sums payable by it under this Indenture; and

 (4) the Company has delivered irrevocable instructions to the Trustee under this Indenture to apply the
deposited money toward the payment of the Notes at maturity or on the redemption date, as the case may be. 
 In addition, the
Company must deliver an Officers’ Certificate and an Opinion of Counsel to the Trustee stating that all conditions precedent to satisfaction and discharge have been satisfied. 

Notwithstanding the satisfaction and discharge of this Indenture, if money has been deposited with the Trustee pursuant to subclause
(b) of clause (1) of this Section 12.01, the provisions of Sections 12.02 and 8.06 hereof will survive. In addition, nothing in this Section 12.01 will be deemed to discharge those provisions of Section 7.07 hereof, that, by
their terms, survive the satisfaction and discharge of this Indenture. 

  
 105

 Section 12.02 Application of Trust Money. 

Subject to the provisions of Section 8.06 hereof, all money deposited with the Trustee pursuant to Section 12.01 hereof shall be
held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own Paying Agent) as the Trustee may determine, to
the Persons entitled thereto, of the principal (and premium and Additional Interest, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except to the extent
required by law. 
 If the Trustee or Paying Agent is unable to apply any money or Government Securities in accordance with
Section 12.01 hereof by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Company’s and any Guarantor’s
obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section 12.01 hereof; provided that if the Company has made any payment of principal of, premium or Additional
Interest, if any, or interest on, any Notes because of the reinstatement of its obligations, the Company shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or Government Securities held by the
Trustee or Paying Agent. 
 ARTICLE 13 
 MISCELLANEOUS 
 Section 13.01 Trust Indenture Act Controls. 

If any provision of this Indenture limits, qualifies or conflicts with the duties imposed by TIA §318(c), the imposed duties will
control. 
 Section 13.02 Notices. 
 Any notice or communication by the Company, any Guarantor or the Trustee to the others is duly given if in writing and delivered in Person or by first class mail (registered or certified, return receipt
requested), facsimile transmission or overnight air courier guaranteeing next day delivery, to the others’ address: 
 If to
the Company and/or any Guarantor: 
 GETCO Holding Company, LLC 

One Liberty Plaza 

165 Broadway, 19th Floor 
 New York, NY 10006 
 Attention: John McCarthy, General Counsel 

with a copy to: 

Sullivan & Cromwell LLP 
 125 Broad Street 
 New York, NY 10004 

Attention: Inosi Nyatta, Esq. 

  
 106

 If to the Trustee: 
 The Bank of New York Mellon 
 101 Barclay Street, Floor 4W 

New York, NY 10286 
 Attention: Corporate Trust Administration 
 The Company, any Guarantor or the
Trustee, by notice to the others, may designate additional or different addresses for subsequent notices or communications. 

All notices and communications (other than those sent to Holders) will be deemed to have been duly given: at the time delivered by hand,
if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt acknowledged, if transmitted by facsimile; and the next Business Day after timely delivery to the courier, if sent by overnight
air courier guaranteeing next day delivery. 
 Any notice or communication to a Holder will be mailed by first class mail,
certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery (or, in the case of Notes held in book-entry form, by electronic transmission) to its address shown on the register kept by the Registrar.
Any notice or communication will also be so mailed to any Person described in TIA § 313(c), to the extent required by the TIA. Failure to mail a notice or communication to a Holder or any defect in it will not affect its sufficiency with
respect to other Holders. 
 If a notice or communication is mailed in the manner provided above within the time prescribed, it
is duly given, whether or not the addressee receives it. 
 If the Company mails a notice or communication to Holders, it will
mail a copy to the Trustee and each Agent at the same time. 
 In addition to the foregoing, the Trustee agrees to accept and
act upon notice, instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party elects to give the Trustee e-mail or facsimile instructions (or
instructions by a similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Trustee’s understanding of such instructions shall be deemed controlling. The Trustee shall not be liable for any losses,
costs or expenses arising directly or indirectly from the Trustee’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party providing
electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, and
the risk or interception and misuse by third parties. 
 Section 13.03 Communication by Holders of Notes with Other Holders of Notes.

 Holders may communicate pursuant to TIA § 312(b) with other Holders with respect to their rights under this Indenture
or the Notes. The Company, the Trustee, the Registrar and anyone else shall have the protection of TIA § 312(c). 
 Section 13.04
Certificate and Opinion as to Conditions Precedent. 
 Upon any request or application by the Company to the Trustee to take
any action under this Indenture, the Company shall furnish to the Trustee: 
 (1) an Officers’ Certificate
in form and substance reasonably satisfactory to the Trustee (which must include the statements set forth in Section 12.05 hereof) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for in this
Indenture relating to the proposed action have been satisfied; and 

  
 107

 (2) an Opinion of Counsel in form and substance reasonably satisfactory to
the Trustee (which must include the statements set forth in Section 12.05 hereof) stating that, in the opinion of such counsel, all such conditions precedent and covenants have been satisfied. 

Section 13.05 Statements Required in Certificate or Opinion. 
 Each certificate or opinion with respect to compliance with a condition or covenant provided for in this Indenture (other than a certificate provided pursuant to TIA § 314(a)(4)) must comply with the
provisions of TIA § 314(e) and must include: 
 (1) a statement that the Person making such certificate or
opinion has read such covenant or condition; 
 (2) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such Person, he or she has made such examination or investigation as is necessary to enable him or her to express an informed opinion as to whether or not such
covenant or condition has been satisfied; and 
 (4) a statement as to whether or not, in the opinion of such
Person, such condition or 
 covenant has been satisfied. 

Section 13.06 Rules by Trustee and Agents. 
 The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set reasonable requirements for its functions. 

Section 13.07 No Personal Liability of Directors, Officers, Employees and Stockholders. 

No director, officer, employee, incorporator or stockholder of the Company or any Guarantor, as such, will have any liability for any
obligations of the Company or the Guarantors under the Indenture Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive liabilities under the federal securities laws. 
 Section 13.08 Governing Law. 
 THE INTERNAL LAW OF THE STATE OF NEW
YORK WILL GOVERN AND BE USED TO CONSTRUE THIS INDENTURE, THE NOTES AND THE NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED
THEREBY. 

  
 108

 Section 13.09 No Adverse Interpretation of Other Agreements. 

This Indenture may not be used to interpret any other indenture, loan or debt agreement of the Company or its Subsidiaries or of any other
Person. Any such indenture, loan or debt agreement may not be used to interpret this Indenture. 
 Section 13.10 Successors.

 All agreements of the Company in this Indenture and the Notes will bind its successors. All agreements of the Trustee in
this Indenture will bind its successors. All agreements of each Guarantor in this Indenture will bind its successors, except as otherwise provided in Section 11.05 hereof. 
 Section 13.11 Severability. 
 In case any provision in this Indenture
or in the Notes is invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions will not in any way be affected or impaired thereby. 
 Section 13.12 Counterpart Originals. 
 The parties may sign any number
of copies of this Indenture. Each signed copy will be an original, but all of them together represent the same agreement. 

Section 13.13 Table of Contents, Headings, etc. 
 The Table of Contents, Cross-Reference Table and Headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not to be considered a part of this
Indenture and will in no way modify or restrict any of the terms or provisions hereof. 
 Section 13.14 Submission of Jurisdiction.

 The Company and each Guarantor hereby irrevocably submits to the jurisdiction of any New York State court sitting in the
Borough of Manhattan in the City of New York or any federal court sitting in the Borough of Manhattan in the City of New York in respect of any suit, action or proceeding arising out of or relating to this Indenture, the Note Guarantees and the
Notes, and irrevocably accepts for itself and in respect of its property, generally and unconditionally, jurisdiction of the aforesaid courts. 
 Section 13.15 Waiver of Jury Trial. 
 EACH OF THE COMPANY, THE
GUARANTORS AND THE TRUSTEE HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTE GUARANTEES, THE NOTES OR THE
TRANSACTION CONTEMPLATED HEREBY. 
 [Signatures on following page] 

  
 109

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

					
	GETCO FINANCING ESCROW LLC
		
	By:	 	

		 	  

		 	Name:	 	John McCarthy
		 	Title:	 	Manager

  
 Janus -
Indenture 

 
					
	THE BANK OF NEW YORK MELLON,
	as Trustee and Collateral Agent
		
	By:	 	

		 	  

		 	Name:	 	FRANCINE KINCAID
		 	Title:	 	VICE PRESIDENT

  
 Janus -
Indenture 

 EXHIBIT A1 
 [FORM OF NOTE] 
 [Face of Note] 

 
  
 [If the Note is a Global Rule 144A Note, insert: 
 CUSIP NO. 37427A AA2

 ISIN NO. US37427AAA25] 
 [If the Note is a Global IAI Note, insert: 
 CUSIP NO. 37427A AB0 

ISIN NO. US37427AAB08] 
 8.250% Senior Secured Notes due 2018 
  

			
	No. [144A][IAI]-[    ]	  	$        

 GETCO FINANCING ESCROW LLC 
 promises to pay to [        ]or registered assigns, the principal sum of
                                         DOLLARS
on June 15, 2018. 
 Interest Payment Dates: June 15 and December 15 
 Record Dates: June 1 and December 1 
 Dated:
            , 20     
  

			
	GETCO FINANCING ESCROW LLC
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Notes referred to 
 in the within-mentioned Indenture: 
 THE BANK OF NEW YORK MELLON,

   as Trustee 
  

			
	By:	 	  

		 	Authorized Signatory

  
  

  
 A1-1

 [Back of Note] 
 8.250% Senior Secured Notes due 2018 
 [Insert the Global Note Legend, if applicable
pursuant to the provisions of the Indenture] 
 [Insert the Private Placement Legend, if applicable pursuant to the provisions of
the Indenture] 
 Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless
otherwise indicated. 
 (1) INTEREST. GETCO Financing Escrow LLC, a Delaware limited
liability company (the “Company”), promises to pay interest on the principal amount of this Note at 8.250% per annum from             , 20    
until maturity and shall pay the Additional Interest, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below. The Company will pay interest and Additional Interest, if any, semi-annually in arrears on
June 15 and December 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which
interest has been paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face
hereof and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be
                    , 20    . The Company will pay interest (including post-petition interest in any proceeding under any
Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at a rate that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any
proceeding under any Bankruptcy Law) on overdue installments of interest and Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed
on the basis of a 360-day year of twelve 30-day months. 
 (2) METHOD OF
PAYMENT. The Company will pay interest on the Notes (except defaulted interest) and Additional Interest, if any, to the Persons who are registered Holders of Notes at the close of business on the June 1 or
December 1 next preceding the Interest Payment Date, even if such Notes are canceled after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted
interest. The Notes will be payable as to principal, premium and Additional Interest, if any, and interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of the
Company, payment of interest and Additional Interest, if any, may be made by check mailed to the Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be
required with respect to principal of and interest, premium and Additional Interest, if any, on, all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment
will be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. 
 (3) PAYING AGENT AND REGISTRAR. Initially, The Bank of New York Mellon, the Trustee under the Indenture, will act as
Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder. 

  
 A1-2

 (4) INDENTURE AND COLLATERAL
DOCUMENTS. The Company issued the Notes under an Indenture dated as of June 5, 2013 (the “Indenture”) between the Company and the Trustee. The terms of the Notes include those stated in the
Indenture and those made part of the Indenture by reference to the TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of this Note conflicts
with the express provisions of the Indenture, the provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. On the Escrow Release Date, the Notes will be secured, subject to Permitted Liens, by a
pledge of (i) all real and personal property of the Company and the Guarantors; (ii) outstanding Equity Interests of direct Subsidiaries of the Company and the Guarantors and all intercompany notes owed to the Company or any of the
Guarantors by the Company or any of their respective Subsidiaries; and (iii) all proceeds of the foregoing, in each case, pursuant to the Collateral Documents referred to in the Indenture. The Indenture does not limit the aggregate principal
amount of Notes that may be issued thereunder. 
 (5) OPTIONAL REDEMPTION.

 (a) At any time prior to June 15, 2015, the Company may on any one or more occasions redeem up to 35% of the aggregate
principal amount of Notes issued under the Indenture (calculated after giving effect to the issuance of any Additional Notes) upon not less than 30 nor more than 60 days’ prior notice, at a redemption price of 108.250% of the principal amount,
plus accrued and unpaid interest and Additional Interest, if any, to the redemption date (subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date), with the net cash
proceeds of one or more Equity Offerings of the Company; provided that: 
 (i) at least 65% of the
aggregate principal amount of Notes (calculated after giving effect to the original issuance of any Additional Notes) (excluding Notes held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption;
and 
 (ii) the redemption occurs within 90 days of the date of the closing of such Equity Offering.

 (b) At any time prior to June 15, 2015, the Company may, on one or more occasions, also redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any,
to the date of redemption, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 
 (c) Except as set forth in subparagraphs (a) or (b) of this paragraph (5), the Notes will not be redeemable at the Company’s option prior to June 15, 2015. 

(d) On or after June 15, 2015, the Company may redeem all or a part of the Notes upon not less than 30 nor more than 60 days’
notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the Notes redeemed, to the applicable redemption date, if redeemed during the
twelve-month period beginning on June 15 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2015
	  	 	104.125	% 
	 2016
	  	 	102.063	% 
	 2017 and thereafter
	  	 	100.000	% 

  
 A1-3

 If an optional redemption date is on or after an interest record date and on or before the
related interest payment date, any accrued and unpaid interest will be paid to the Person in whose name the Notes is registered at the close of business on such record. 
 Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable redemption date. 

(6) MANDATORY REDEMPTION. 
 (a) Except as set forth in subparagraph (b) of this paragraph (6), the Company is not required to make mandatory redemption or sinking fund payments with respect to the Notes or make an offer to
purchase the Notes. 
 (b) On the second Business Day following the Escrow Termination Date, the Company shall redeem all of the
Notes at a redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Trustee will release to the Company any Escrow Property remaining after redemption of
the Notes and payment of all reasonable fees and expenses. 
 (7) REPURCHASE AT
THE OPTION OF HOLDER. 
 (a) If there is a Change of Control,
the Company will be required to make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase
price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest and Additional Interest, if any, thereon to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest
due on the relevant interest payment date (in either case, the “Change of Control Payment”). Within 30 days following any Change of Control, the Company will mail a notice to each Holder setting forth the procedures governing the
Change of Control Offer as required by the Indenture. 
 (b) If the Company or a Restricted Subsidiary of the Company
consummates any Asset Sales, within 15 days following the 365-day period after the receipt of any Net Proceeds from such Asset Sale (other than Excluded Net Proceeds), to the extent the aggregate amount of Excess Proceeds exceeds $25,000,000, the
Company will commence an offer to all Holders of Notes and all holders of Second Lien Obligations containing provisions similar to those set forth in the Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets (an
“Asset Sale Offer”) pro rata in proportion to the respective principal amounts of the Notes and such other Second Lien Obligations required to be purchases or redeemed, to purchase the maximum principal amount of Notes (including
any Additional Notes) and such other Second Lien Obligations that may be purchased with the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount of the Notes or such other Second Lien Obligations, plus accrued
and unpaid interest and Additional Interest, if any, thereon to the date of purchase (subject to the right of Holders on the relevant record date to receive interest due on the relevant interest payment date), in accordance with the procedures set
forth in the Indenture. To the extent that the aggregate amount of Notes (including any Additional Notes) and other Second Lien Obligations tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company (or such Restricted
Subsidiary) may use such deficiency for any purpose not otherwise prohibited by the Indenture. If the aggregate principal amount of Notes and other Second Lien 

  
 A1-4

 
Obligations tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and such other Second Lien Obligations to be purchased on a pro
rata basis. Holders of Notes that are the subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by completing the form entitled
“Option of Holder to Elect Purchase” attached to the Notes. 
 (8) NOTICE OF
REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its registered address, except that redemption
notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in denominations larger than $2,000 may be redeemed in
part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. 
 (9)
DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of
Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder
to pay any taxes and fees required by law or permitted by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in
part. Also, the Company need not exchange or register the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

(10) PERSONS DEEMED OWNERS. The registered Holder of a Note may be
treated as its owner for all purposes. 
 (11) AMENDMENT, SUPPLEMENT AND
WAIVER. Subject to certain exceptions, the Indenture Documents may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes
including Additional Notes, if any, voting as a single class, and any existing Default or Event or Default or compliance with any provision of the Indenture Documents may be waived with the consent of the Holders of a majority in aggregate principal
amount of the then outstanding Notes including Additional Notes, if any, voting as a single class. Without the consent of any Holder of a Note, the Indenture Documents may be amended or supplemented to cure any ambiguity, defect or inconsistency, to
provide for uncertificated Notes in addition to or in place of certificated Notes, to provide for the assumption of the Company’s or a Guarantor’s obligations to Holders of the Notes and Note Guarantees in case of a merger or
consolidation, to make any change that would provide any additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC
in order to effect or maintain the qualification of the Indenture under the TIA, to conform the text of the Indenture Documents to any provision of the “Description of the Notes” section of the Company’s Offering Memorandum dated
May 21, 2013, relating to the initial offering of the Notes, to the extent that such provision in that “Description of the Notes” was intended to be a verbatim recitation of a provision of the Indenture Documents, to provide for the
issuance of Additional Notes in accordance with the limitations set forth in the Indenture, to evidence and provide for the acceptance and appointment under the Indenture of a successor trustee pursuant to the requirements of the Indenture, to allow
any Guarantor to execute a supplemental indenture and/or a Note Guarantee with respect to the Notes or to release a Guarantor from its Note Guarantee in accordance with the terms of the Indenture or to enter into additional or supplemental
Collateral Documents or to release Collateral from the Lien of the Indenture or the Collateral Documents in accordance with the terms of the Indenture and the Collateral Documents. 

  
 A1-5

 (12) DEFAULTS AND
REMEDIES. Events of Default include: (i) default for 30 days in the payment when due of interest on, or Additional Interest, if any, with respect to, the Notes; (ii) default in the payment when due (at
maturity, upon redemption or otherwise) of the principal of, or premium, if any, on, the Notes, (iii) failure by the Company or any of its Restricted Subsidiaries to comply with the provisions of Sections 4.10, 4.15 or 5.01 of the Indenture;
(iv) failure by the Company or any of its Restricted Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to
comply with any of the other agreements in the Indenture Documents; (v) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Material Indebtedness for money
borrowed by the Company or any of its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such Material Indebtedness or Guarantee now exists, or is created after the date of
the Indenture, if that default: (a) is caused by a failure to pay principal of, or interest or premium, if any, on, such Material Indebtedness prior to the expiration of the grace period provided in such Material Indebtedness on the date of
such default (a “Payment Default”); or (b) results in the acceleration of such Material Indebtedness prior to its express maturity; (vi) failure by the Company or any of its Restricted Subsidiaries to pay final judgments
entered by a court or courts of competent jurisdiction aggregating in excess of $35,000,000 (not covered by independent third-party insurance as to which liability has not been denied by such insurance carrier), which judgments are not paid,
discharged or stayed for a period of 60 days; (vii) except as expressly permitted by the Indenture and the Collateral Documents, any of the Collateral Documents shall for any reason cease to be in full force and effect in all material respects,
or the Company or a Guarantor shall so assert, or any security interest created, or purported to be created, by any of the Collateral Documents with respect to Collateral exceeding $35,000,000 in Fair Market Value shall cease to be enforceable and
of the same effect and priority purported to be created thereby, in each case for 30 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class,
except solely as a result of the Collateral Agent taking or refraining from taking any action in its sole control; (viii) the repudiation by the Company or any Guarantor of any of its material obligations under the Collateral Documents;
(ix) except as permitted by the Indenture, any Note Guarantee is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect, or any Guarantor, or any Person acting on behalf of any
Guarantor, denies or disaffirms in writing its obligations under its Note Guarantee; and (x) certain events of bankruptcy or insolvency described in the Indenture with respect to the Company or any of its Restricted Subsidiaries that is a
Significant Subsidiary or any group of Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal
amount of the then outstanding Notes may declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will
become due and payable immediately without further action or notice. In the event of any Event of Default specified in clause (v) of this paragraph (12), such Event of Default and all consequences thereof shall be annulled, waived and
rescinded, automatically and without any action by the Trustee or the Holders of Notes, if within 30 days after such Event of Default arose (x) the Indebtedness or Guarantee that is the basis for such Event of Default has been discharged; or
(y) the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default; or (z) if the default that is the basis for such Event of Default has been cured. Holders may
not enforce the Indenture or the Notes except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or
power. The Trustee may withhold from Holders of the Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest or premium or Additional Interest, if any,) if it
determines that withholding notice is in their interest. The Holders of a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may, on behalf of the Holders of all of the Notes, rescind an acceleration or
waive any existing Default or 

  
 A1-6

 
Event of Default and its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest or premium or Additional Interest, if any, on, or the
principal of, the Notes. The Company is required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the Company is required, upon becoming aware of any Default or Event of Default, to deliver to the Trustee a
statement specifying such Default or Event of Default. 
 (13) TRUSTEE DEALINGS
WITH COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the
Company or its Affiliates, as if it were not the Trustee. 
 (14) NO RECOURSE
AGAINST OTHERS. A director, officer, employee, incorporator or stockholder of the Company or any of the Guarantors, as such, will not have any liability for any obligations of the Company or the
Guarantors under the Indenture Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the
consideration for the issuance of the Notes. 
 (15) AUTHENTICATION. This Note will not be
valid until authenticated by the manual signature of the Trustee or an authenticating agent. 
 (16)
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (17)
ADDITIONAL RIGHTS OF HOLDERS OF RESTRICTED GLOBAL NOTES AND RESTRICTED DEFINITIVE
NOTES. In addition to the rights provided to Holders of Notes under the Indenture, Holders of Restricted Global Notes and Restricted Definitive Notes will have all the rights set forth in the Registration Rights
Agreement dated as of June 5, 2013, between the Company and Jefferies LLC, as representative of the Initial Purchasers, or, in the case of Additional Notes, Holders of Restricted Global Notes and Restricted Definitive Notes will have the rights
set forth in one or more registration rights agreements, if any, between the Company and the other parties thereto, relating to rights given by the Company and the Guarantors to the purchasers of any Additional Notes (collectively, the
“Registration Rights Agreement”). 
 (18) CUSIP NUMBERS. Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders.
No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(19) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE
NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

  
 A1-7

 The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to: 
 GETCO Financing Escrow LLC 

c/o GETCO Holding Company, LLC 
 One Liberty
Plaza 
 165 Broadway, 19th Floor 
 New
York, NY 10006 
 Attention: John McCarthy, General Counsel 

  
 A1-8

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	 (I) or (we) assign and transfer this Note to:
	  	  

		  	(Insert assignee’s legal name)

  

	
	     

	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	     

	     

	     

	     

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                                         to
transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A1-9

 Option of Holder to Elect Purchase 
 If you want to elect to have this Note purchased by the Company pursuant to Section 4.10 or 4.15 of the Indenture, check the appropriate box below: 

 

							
		 	¬Section 4.10	 	¬Section 4.15	 	

 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.10
or Section 4.15 of the Indenture, state the amount you elect to have purchased: 

$         
  

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)
		 	
	Tax Identification No.:	 	  

		 	

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A1-10

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE GLOBAL NOTE * 
 The following
exchanges of a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global Note or Definitive Note for an interest in this Global Note, have been made: 

 

									
	 	  	 	  	 	  	Principal Amount	  	 
	 	  	Amount of decrease in	  	Amount of increase in	  	[at maturity] of this	  	 
	 	  	Principal Amount	  	Principal Amount	  	Global Note following	  	Signature of authorized
	 	  	[at maturity] of	  	[at maturity] of	  	such decrease	  	officer of Trustee or
	 Date of Exchange
	  	this Global Note	  	this Global Note	  	(or increase)	  	Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  

	*	This schedule should be included only if the Note is issued in global form 

  
 A1-11

 EXHIBIT A2 
 [Face of Regulation S Temporary Global Note] 
  

 
 CUSIP NO. U37425 AA0 

ISIN NO. USU37425AA00 
 8.250% Senior Secured Notes due 2018 
  

			
	No. Reg S-[    ]	  	$        

 GETCO FINANCING ESCROW LLC 
 promises to pay to CEDE & CO. or registered assigns, the principal sum of
                                         DOLLARS
on June 15, 2018. 
 Interest Payment Dates: June 15 and December 15 
 Record Dates: June 1 and December 1 
 Dated:
            , 20     
  

			
	GETCO FINANCING ESCROW LLC
		
	By:	 	  

		 	Name:
		 	Title:

 This is one of the Notes referred to 
 in the within-mentioned Indenture: 
 THE BANK OF NEW YORK MELLON,

   as Trustee 
  

			
	By:	 	  

		 	Authorized Signatory

  
  

  
 A2-1

 [Back of Regulation S Temporary Global Note] 

8.250% Senior Secured Notes due 2018 
 THE RIGHTS ATTACHING TO THIS REGULATION S TEMPORARY GLOBAL NOTE, AND THE CONDITIONS AND PROCEDURES GOVERNING ITS EXCHANGE FOR CERTIFICATED NOTES, ARE AS SPECIFIED IN THE INDENTURE (AS DEFINED HEREIN).
NEITHER THE HOLDER NOR THE BENEFICIAL OWNERS OF THIS REGULATION S TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF INTEREST HEREON. 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06 OF THE INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION
2.06(a) OF THE INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.11 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT
OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS
A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OR ANY STATE SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION. THE HOLDER OF THIS SECURITY, BY ITS
ACCEPTANCE HEREOF (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT), (B) IT IS A NON-U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION
WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO SUCH PURCHASER IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (C) IT IS AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(A)(1), (2) OR (7) UNDER THE SECURITIES ACT OR IS ACQUIRING THE NOTES FOR 

  
 A2-2

 
THE ACCOUNT OF SUCH AN INSTITUTIONAL ACCREDITED INVESTOR, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF NOTES OF $250,000 OR (D) IT IS ACQUIRING THIS SECURITY PURSUANT TO A VALID
REGISTRATION STATEMENT OR IN ANOTHER TRANSACTION EXEMPT FROM REGISTRATION, AND (2) AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH SECURITY WITHIN THE YEAR AFTER THE ORIGINAL ISSUANCE OF THIS SECURITY ONLY (A) TO THE COMPANY OR ANY
SUBSIDIARY THEREOF, (B) FOR SO LONG AS THE SECURITIES ARE ELIGIBLE FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT
PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHICH NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, (C) PURSUANT TO OFFERS AND SALES TO NON-U.S. PERSONS THAT OCCUR OUTSIDE THE
UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT AND IN ACCORDANCE WITH THE LAWS APPLICABLE TO IT IN THE JURISDICTION IN WHICH SUCH PURCHASE IS MADE, (D) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” WITHIN THE
MEANING OF RULE 501(A)(1), (2) OR (7) UNDER THE SECURITIES ACT THAT IS ACQUIRING THE SECURITY FOR ITS OWN ACCOUNT, OR FOR THE ACCOUNT OF SUCH AN ACCREDITED INVESTOR, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN
CONNECTION WITH, ANY DISTRIBUTION IN VIOLATION OF THE SECURITIES ACT, IN EACH CASE IN A MINIMUM PRINCIPAL AMOUNT OF NOTES OF $250,000, (E) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE SECURITIES ACT OR
(F) PURSUANT TO ANOTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE COMPANY’S AND THE TRUSTEE’S, OR REGISTRAR’S, AS APPLICABLE, RIGHT PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER
PURSUANT TO CLAUSE (F) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM, AND IN EACH OF THE FOREGOING CASES, A CERTIFICATE OF TRANSFER IN THE FORM APPEARING ON THE OTHER SIDE
OF THIS SECURITY COMPLETED AND DELIVERED BY THE TRANSFEROR TO THE TRUSTEE OR REGISTRAR. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE EXPIRATION OF THE APPLICABLE HOLDING PERIOD WITH RESPECT TO RESTRICTED SECURITIES SET FORTH
IN RULE 144 UNDER THE SECURITIES ACT. NO REPRESENTATION CAN BE MADE AS TO THE AVAILABILITY OF THE EXEMPTION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT FOR RESALE OF THE SECURITY EVIDENCED HEREBY. 

Capitalized terms used herein have the meanings assigned to them in the Indenture referred to below unless otherwise indicated.

 (1) INTEREST. GETCO Financing Escrow LLC, a Delaware limited liability company (the
“Company”), promises to pay interest on the principal amount of this Note at 8.250% per annum from             , 20     until maturity and shall
pay the Additional Interest, if any, payable pursuant to Section 5 of the Registration Rights Agreement referred to below. The Company will pay interest and Additional Interest, if any, semi-annually in arrears on June 15 and
December 15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an “Interest Payment Date”). Interest on the Notes will accrue from the most recent date to which interest has been
paid or, if no interest has been paid, from the date of issuance; provided that if there is no existing Default in the payment of interest, and if this Note is authenticated between a record date referred to on the face hereof and the next
succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided further that the first Interest Payment Date shall be             ,

  
 A2-3

 
20    . The Company will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time
on demand at a rate that is 1% per annum in excess of the rate then in effect to the extent lawful; it will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest and
Additional Interest, if any, (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be computed on the basis of a 360-day year of twelve 30-day months. 

Until this Regulation S Temporary Global Note is exchanged for one or more Regulation S Permanent Global Notes, the Holder hereof shall
not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation S Temporary Global Note shall in all other respects be entitled to the same benefits as other Notes under the Indenture. 

(2) METHOD OF PAYMENT. The Company will pay interest on the Notes
(except defaulted interest) and Additional Interest, if any, to the Persons who are registered Holders of Notes at the close of business on the June 1 or December 1 next preceding the Interest Payment Date, even if such Notes are canceled
after such record date and on or before such Interest Payment Date, except as provided in Section 2.12 of the Indenture with respect to defaulted interest. The Notes will be payable as to principal, premium and Additional Interest, if any, and
interest at the office or agency of the Company maintained for such purpose within or without the City and State of New York, or, at the option of the Company, payment of interest and Additional Interest, if any, may be made by check mailed to the
Holders at their addresses set forth in the register of Holders; provided that payment by wire transfer of immediately available funds will be required with respect to principal of and interest, premium and Additional Interest, if any, on,
all Global Notes and all other Notes the Holders of which will have provided wire transfer instructions to the Company or the Paying Agent. Such payment will be in such coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts. 
 (3) PAYING AGENT AND
REGISTRAR. Initially, The Bank of New York Mellon, the Trustee under the Indenture, will act as Paying Agent and Registrar. The Company may change any Paying Agent or Registrar without notice to any Holder.

 (4) INDENTURE AND COLLATERAL DOCUMENTS. The
Company issued the Notes under an Indenture dated as of June 5, 2013 (the “Indenture”) between the Company and the Trustee. The terms of the Notes include those stated in the Indenture and those made part of the Indenture by
reference to the TIA. The Notes are subject to all such terms, and Holders are referred to the Indenture and the TIA for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the
provisions of the Indenture shall govern and be controlling. The Notes are secured obligations of the Company. On the Escrow Release Date, the Notes will be secured, subject to Permitted Liens, by a pledge of (i) all real and personal property
of the Company and the Guarantors; (ii) outstanding Equity Interests of direct Subsidiaries of the Company and the Guarantors and all intercompany notes owed to the Company or any of the Guarantors by the Company or any of their respective
Subsidiaries; and (iii) all proceeds of the foregoing, in each case, pursuant to the Collateral Documents referred to in the Indenture. The Indenture does not limit the aggregate principal amount of Notes that may be issued thereunder.

 (5) OPTIONAL REDEMPTION. 

(a) At any time prior to June 15, 2015, the Company may on any one or more occasions redeem up to 35% of the
aggregate principal amount of Notes issued under the Indenture (calculated after giving effect to the issuance of any Additional Notes) upon not less 

  
 A2-4

 
than 30 nor more than 60 days’ prior notice, at a redemption price of 108.250% of the principal amount, plus accrued and unpaid interest and Additional Interest, if any, to the redemption
date (subject to the rights of Holders of Notes on the relevant record date to receive interest due on the relevant interest payment date), with the net cash proceeds of one or more Equity Offerings of the Company; provided that: 

(i) at least 65% of the aggregate principal amount of Notes (calculated after giving effect to the original issuance
of any Additional Notes) (excluding Notes held by the Company and its Subsidiaries) remains outstanding immediately after the occurrence of such redemption; and 

(ii) the redemption occurs within 90 days of the date of the closing of such Equity Offering. 

(b) At any time prior to June 15, 2015, the Company may, on one or more occasions, also redeem all or a part of the
Notes, upon not less than 30 nor more than 60 days’ prior notice, at a redemption price equal to 100% of the principal amount of Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest and Additional Interest, if any,
to the date of redemption, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date. 
 (c) Except as set forth in subparagraphs (a) or (b) of this paragraph (5), the Notes will not be redeemable at the Company’s option prior to June 15, 2015. 

(d) On or after June 15, 2015, the Company may redeem all or a part of the Notes upon not less than 30 nor more than
60 days’ notice, at the redemption prices (expressed as percentages of principal amount) set forth below plus accrued and unpaid interest and Additional Interest, if any, on the Notes redeemed, to the applicable redemption date, if redeemed
during the twelve-month period beginning on June 15 of the years indicated below, subject to the rights of Holders of Notes on the relevant record date to receive interest on the relevant interest payment date: 

 

					
	 Year
	  	Percentage	 
	 2015
	  	 	104.125	% 
	 2016
	  	 	102.063	% 
	 2017 and thereafter
	  	 	100.000	% 

 If an optional redemption date is on or after an interest record date and on or before the related
interest payment date, any accrued and unpaid interest will be paid to the Person in whose name the Notes is registered at the close of business on such record. 
 Unless the Company defaults in the payment of the redemption price, interest will cease to accrue on the Notes or portions thereof called for redemption on the applicable redemption date.] 

  
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 (6) MANDATORY REDEMPTION. 

(a) Except as set forth in subparagraph (b) of this paragraph (6), the Company is not required to make mandatory redemption or
sinking fund payments with respect to the Notes or make an offer to purchase the Notes. 
 (b) On the second Business Day
following the Escrow Termination Date, the Company shall redeem all of the Notes at a redemption price equal to 100% of the issue price of the Notes, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Trustee will
release to the Company any Escrow Property remaining after redemption of the Notes and payment of all reasonable fees and expenses. 
 (7) REPURCHASE AT THE OPTION OF HOLDER. 

(a) If there is a Change of Control, the Company will be required to make an offer (a “Change of Control Offer”) to each
Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price in cash equal to 101% of the aggregate principal amount thereof plus accrued and unpaid
interest and Additional Interest, if any, thereon to the date of purchase, subject to the rights of Holders on the relevant record date to receive interest due on the relevant interest payment date (in either case, the “Change of Control
Payment”). Within 30 days following any Change of Control, the Company will mail a notice to each Holder setting forth the procedures governing the Change of Control Offer as required by the Indenture. 

(b) If the Company or a Restricted Subsidiary of the Company consummates any Asset Sales, within 15 days following the 365-day period
after the receipt of any Net Proceeds from such Asset Sale (other than Excluded Net Proceeds), to the extent the aggregate amount of Excess Proceeds exceeds $25,000,000, the Company will commence an offer to all Holders of Notes and all holders of
Second Lien Obligations containing provisions similar to those set forth in the Indenture with respect to offers to purchase or redeem with the proceeds of sales of assets (an “Asset Sale Offer”) pro rata in proportion to the
respective principal amounts of the Notes and such other Second Lien Obligations required to be purchases or redeemed, to purchase the maximum principal amount of Notes (including any Additional Notes) and such other Second Lien Obligations that may
be purchased with the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount of the Notes or such other Second Lien Obligations, plus accrued and unpaid interest and Additional Interest, if any, thereon to the
date of purchase (subject to the right of Holders on the relevant record date to receive interest due on the relevant interest payment date), in accordance with the procedures set forth in the Indenture. To the extent that the aggregate amount of
Notes (including any Additional Notes) and other Second Lien Obligations tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company (or such Restricted Subsidiary) may use such deficiency for any purpose not otherwise
prohibited by the Indenture. If the aggregate principal amount of Notes and other Second Lien Obligations tendered into such Asset Sale Offer exceeds the amount of Excess Proceeds, the Trustee shall select the Notes and such other Second Lien
Obligations to be purchased on a pro rata basis. Holders of Notes that are the subject of an offer to purchase will receive an Asset Sale Offer from the Company prior to any related purchase date and may elect to have such Notes purchased by
completing the form entitled “Option of Holder to Elect Purchase” attached to the Notes. 
 (8)
NOTICE OF REDEMPTION. Notice of redemption will be mailed at least 30 days but not more than 60 days before the redemption date to each Holder whose Notes are to be redeemed at its
registered address, except that redemption notices may be mailed more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction or discharge of the Indenture. Notes in
denominations larger than $2,000 may be redeemed in part but only in whole multiples of $1,000, unless all of the Notes held by a Holder are to be redeemed. 

  
 A2-6

 (9) DENOMINATIONS, TRANSFER,
EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as
provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted
by the Indenture. The Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. Also, the Company need not exchange or register
the transfer of any Notes for a period of 15 days before a selection of Notes to be redeemed or during the period between a record date and the corresponding Interest Payment Date. 

This Regulation S Temporary Global Note is exchangeable in whole or in part for one or more Global Notes only (i) on or after the
termination of the 40-day distribution compliance period (as defined in Regulation S) and (ii) upon presentation of certificates (accompanied by an Opinion of Counsel, if applicable) required by Article 2 of the Indenture. Upon exchange of this
Regulation S Temporary Global Note for one or more Global Notes, the Trustee shall cancel this Regulation S Temporary Global Note. 
 (10) PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. 

(11) AMENDMENT, SUPPLEMENT AND WAIVER. Subject to
certain exceptions, the Indenture Documents may be amended or supplemented with the consent of the Holders of at least a majority in aggregate principal amount of the then outstanding Notes including Additional Notes, if any, voting as a single
class, and any existing Default or Event or Default or compliance with any provision of the Indenture Documents may be waived with the consent of the Holders of a majority in aggregate principal amount of the then outstanding Notes including
Additional Notes, if any, voting as a single class. Without the consent of any Holder of a Note, the Indenture Documents may be amended or supplemented to cure any ambiguity, defect or inconsistency, to provide for uncertificated Notes in addition
to or in place of certificated Notes, to provide for the assumption of the Company’s or a Guarantor’s obligations to Holders of the Notes and Note Guarantees in case of a merger or consolidation, to make any change that would provide any
additional rights or benefits to the Holders of the Notes or that does not adversely affect the legal rights under the Indenture of any such Holder, to comply with the requirements of the SEC in order to effect or maintain the qualification of the
Indenture under the TIA, to conform the text of the Indenture Documents to any provision of the “Description of the Notes” section of the Company’s Offering Memorandum dated May 21, 2013, relating to the initial offering of the
Notes, to the extent that such provision in that “Description of the Notes” was intended to be a verbatim recitation of a provision of the Indenture Documents, to provide for the issuance of Additional Notes in accordance with the
limitations set forth in the Indenture, to evidence and provide for the acceptance and appointment under the Indenture of a successor trustee pursuant to the requirements of the Indenture, to allow any Guarantor to execute a supplemental indenture
and/or a Note Guarantee with respect to the Notes or to release a Guarantor from its Note Guarantee in accordance with the terms of the Indenture or to enter into additional or supplemental Collateral Documents or to release Collateral from the Lien
of the Indenture or the Collateral Documents in accordance with the terms of the Indenture and the Collateral Documents. 
 (12)
DEFAULTS AND REMEDIES. Events of Default include: (i) default for 30 days in the payment when due of interest on, or Additional Interest, if any, with respect to, the Notes;
(ii) default in the payment when due (at maturity, upon redemption or otherwise) of the principal of, or premium, if 

  
 A2-7

 
any, on, the Notes, (iii) failure by the Company or any of its Restricted Subsidiaries to comply with the provisions of Sections 4.10, 4.15 or 5.01 of the Indenture; (iv) failure by the
Company or any of its Restricted Subsidiaries for 60 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class to comply with any of the other
agreements in the Indenture Documents; (v) default under any mortgage, indenture or instrument under which there may be issued or by which there may be secured or evidenced any Material Indebtedness for money borrowed by the Company or any of
its Restricted Subsidiaries (or the payment of which is guaranteed by the Company or any of its Restricted Subsidiaries), whether such Material Indebtedness or Guarantee now exists, or is created after the date of the Indenture, if that default:
(a) is caused by a failure to pay principal of, or interest or premium, if any, on, such Material Indebtedness prior to the expiration of the grace period provided in such Material Indebtedness on the date of such default (a “Payment
Default”); or (b) results in the acceleration of such Material Indebtedness prior to its express maturity; (vi) failure by the Company or any of its Restricted Subsidiaries to pay final judgments entered by a court or courts of
competent jurisdiction aggregating in excess of $35,000,000 (not covered by independent third-party insurance as to which liability has not been denied by such insurance carrier), which judgments are not paid, discharged or stayed for a period of 60
days; (vii) except as expressly permitted by the Indenture and the Collateral Documents, any of the Collateral Documents shall for any reason cease to be in full force and effect in all material respects, or the Company or a Guarantor shall so
assert, or any security interest created, or purported to be created, by any of the Collateral Documents with respect to Collateral exceeding $35,000,000 in Fair Market Value shall cease to be enforceable and of the same effect and priority
purported to be created thereby, in each case for 30 days after notice to the Company by the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes then outstanding voting as a single class, except solely as a result of
the Collateral Agent taking or refraining from taking any action in its sole control; (viii) the repudiation by the Company or any Guarantor of any of its material obligations under the Collateral Documents; (ix) except as permitted by the
Indenture, any Note Guarantee is held in any judicial proceeding to be unenforceable or invalid or ceases for any reason to be in full force and effect, or any Guarantor, or any Person acting on behalf of any Guarantor, denies or disaffirms in
writing its obligations under its Note Guarantee; and (x) certain events of bankruptcy or insolvency described in the Indenture with respect to the Company or any of its Restricted Subsidiaries that is a Significant Subsidiary or any group of
Restricted Subsidiaries that, taken together, would constitute a Significant Subsidiary. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the then outstanding Notes may
declare all the Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without
further action or notice. In the event of any Event of Default specified in clause (v) of this paragraph (12), such Event of Default and all consequences thereof shall be annulled, waived and rescinded, automatically and without any action by
the Trustee or the Holders of Notes, if within 30 days after such Event of Default arose (x) the Indebtedness or Guarantee that is the basis for such Event of Default has been discharged; or (y) the holders thereof have rescinded or waived
the acceleration, notice or action (as the case may be) giving rise to such Event of Default; or (z) if the default that is the basis for such Event of Default has been cured. Holders may not enforce the Indenture or the Notes except as
provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold from Holders of the
Notes notice of any continuing Default or Event of Default (except a Default or Event of Default relating to the payment of principal or interest or premium or Additional Interest, if any,) if it determines that withholding notice is in their
interest. The Holders of a majority in aggregate principal amount of the then outstanding Notes by notice to the Trustee may, on behalf of the Holders of all of the Notes, rescind an acceleration or waive any existing Default or Event of Default and
its consequences under the Indenture except a continuing Default or Event of Default in the payment of interest or premium or Additional Interest, if any, on, or the principal of, the Notes. The Company is required to deliver to the Trustee annually
a statement regarding compliance with the Indenture, and the Company is required, upon becoming aware of any Default or Event of Default, to deliver to the Trustee a statement specifying such Default or Event of Default. 

  
 A2-8

 (13) TRUSTEE DEALINGS WITH
COMPANY. The Trustee, in its individual or any other capacity, may make loans to, accept deposits from, and perform services for the Company or its Affiliates, and may otherwise deal with the Company or its
Affiliates, as if it were not the Trustee. 
 (14) NO RECOURSE AGAINST
OTHERS. A director, officer, employee, incorporator or stockholder of the Company or any of the Guarantors, as such, will not have any liability for any obligations of the Company or the Guarantors under the
Indenture Documents or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for the
issuance of the Notes. 
 (15) AUTHENTICATION. This Note will not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent. 
 (16)
ABBREVIATIONS. Customary abbreviations may be used in the name of a Holder or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of
survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 
 (17)
ADDITIONAL RIGHTS OF HOLDERS. In addition to the rights provided to Holders of Notes under the Indenture, Holders of this Regulation S Temporary Global Note will have
all the rights set forth in the Registration Rights Agreement dated as of June 5, 2013, between the Company and Jefferies LLC, as representative of the Initial Purchasers, or, in the case of Additional Notes, Holders thereof will have the
rights set forth in one or more registration rights agreements, if any, between the Company and the other parties thereto, relating to rights given by the Company and the Guarantors to the purchasers of any Additional Notes (collectively, the
“Registration Rights Agreement”). 
 (18) CUSIP NUMBERS. Pursuant to a
recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers to be printed on the Notes, and the Trustee may use CUSIP numbers in notices of redemption as a convenience to Holders.
No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption, and reliance may be placed only on the other identification numbers placed thereon. 

(19) GOVERNING LAW. THE INTERNAL LAW OF THE STATE OF NEW YORK WILL GOVERN AND BE USED TO CONSTRUE THE INDENTURE, THIS NOTE AND THE
NOTE GUARANTEES WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

  
 A2-9

 The Company will furnish to any Holder upon written request and without charge a copy of the
Indenture and/or the Registration Rights Agreement. Requests may be made to: 
 GETCO Financing Escrow LLC 

c/o GETCO Holding Company, LLC 
 One Liberty
Plaza 
 165 Broadway, 19th Floor 
 New
York, NY 10006 
 Attention: John McCarthy, General Counsel 

  
 A2-10

 ASSIGNMENT FORM 

To assign this Note, fill in the form below: 
  

			
	(I) or (we) assign and transfer this Note to:	  	  

		  	(Insert assignee’s legal name)

  

	
	     

	(Insert assignee’s soc. sec. or tax I.D. no.)
	
	     

	     

	     

	     

	(Print or type assignee’s name, address and zip code)

 and irrevocably appoint
                                         to
transfer this Note on the books of the Company. The agent may substitute another to act for him. 
  

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)

  

			
	Signature Guarantee*:	 	  

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A2-11

 OPTION OF HOLDER TO
ELECT PURCHASE 
 If you want to elect to have this Note purchased by the Company pursuant to
Section 4.10 or 4.15 of the Indenture, check the appropriate box below: 
  

							
		 	¬Section 4.10	 	¬Section 4.15	 	

 If you want to elect to have only part of the Note purchased by the Company pursuant to Section 4.10
or Section 4.15 of the Indenture, state the amount you elect to have purchased: 

$         
  

			
	Date:	 	  

  

			
	Your Signature:	 	  

	(Sign exactly as your name appears on the face of this Note)
		
	Tax Identification No.:	 	  

  

			
	Signature Guarantee*:	 	

  

	*	Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). 

  
 A2-12

 SCHEDULE OF EXCHANGES OF
INTERESTS IN THE REGULATION S TEMPORARY 

GLOBAL NOTE 
 The following exchanges of a part of this Regulation S Temporary Global Note for an interest in another Global Note, or exchanges of a part of another other Restricted Global Note for an interest in this
Regulation S Temporary Global Note, have been made: 
  

									
	 	  	 	  	 	  	Principal Amount	  	 
	 	  	Amount of decrease in	  	Amount of increase in	  	[at maturity] of this	  	 
	 	  	Principal Amount	  	Principal Amount	  	Global Note following	  	Signature of authorized
	 	  	[at maturity] of	  	[at maturity] of	  	such decrease	  	officer of Trustee or
	 Date of Exchange
	  	this Global Note	  	this Global Note	  	(or increase)	  	Custodian
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

  
 A2-13

 EXHIBIT B 
 [FORM OF CERTIFICATE OF TRANSFER] 
 GETCO Holding Company, LLC 

One Liberty Plaza 
 165 Broadway, 19th Floor

 New York, NY 10006 
 Attention: John
McCarthy, General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street, Floor 4W 
 New York, NY 10286 

Attention: Corporate Trust Administration 
  

	 	Re:	GETCO Financing Escrow LLC 8.250% Senior Secured Notes due 2018  

 Reference is hereby made to the Indenture, dated as of June 5, 2013 (the “Indenture”), between GETCO Financing Escrow LLC (the “Company”), and The Bank of New York
Mellon, as trustee and collateral agent. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
                     , (the “Transferor”) owns and proposes to transfer the Note[s] or
interest in such Note[s] specified in Annex A hereto, in the principal amount of $         in such Note[s] or interests (the “Transfer”), to
                     (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor
hereby certifies that: 
 [CHECK ALL THAT APPLY] 
 1.  ̈ Check if Transferee will take delivery of a beneficial interest in the 144A Global Note or a Restricted Definitive Note pursuant to Rule
144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further certifies that the
beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own account, or for one or more accounts with respect to which such
Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule 144A, and such Transfer is in
compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 

2.  ̈ Check if Transferee will take delivery of a beneficial interest in the
Regulation S Temporary Global Note, the Regulation S Permanent Global Note or a Restricted Definitive Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities
Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United States or such
Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore securities market
and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the

  
 B-1

 
requirements of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act , (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the
Securities Act and (iv) if the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser).
Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on
the Regulation S Permanent Global Note, the Regulation S Temporary Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. 
 3.  ̈ Check and complete if Transferee will take delivery of a beneficial interest in the IAI Global Note or a Restricted Definitive Note pursuant to
any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Definitive
Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one): 

(a)  ̈ such Transfer is being effected pursuant to and in accordance
with Rule 144 under the Securities Act; 
 or 

(b)  ̈ such Transfer is being effected to the Company or a subsidiary
thereof; 
 or 
 (c)  ̈ such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus
delivery requirements of the Securities Act; 
 or 

(d)  ̈ such Transfer is being effected to an Institutional Accredited
Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904, and the Transferor hereby further certifies that it has not engaged in any general solicitation
within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive Notes and the requirements of the exemption
claimed, which certification is supported by a certificate executed by the Transferee in the form of Exhibit D to the Indenture. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial
interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the IAI Global Note and/or the Restricted Definitive Notes and in the Indenture and the Securities Act. 

4.  ̈ Check if Transferee will take delivery of a beneficial interest in an
Unrestricted Global Note or of an Unrestricted Definitive Note. 
 (a)  ̈
Check if Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any
applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement 

  
 B-2

 
Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. 

(b)  ̈ Check if Transfer is Pursuant to Regulation S. (i) The Transfer is
being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States
and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms
of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and
in the Indenture. 
 (c)  ̈ Check if Transfer is Pursuant to Other
Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer
enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 

 

			
	  

		 	[Insert Name of Transferor]
		
	By:	 	  

		 	Name:
		 	Title:

  

					
		 	Dated:	 	  

  
 B-3

 ANNEX A TO CERTIFICATE OF TRANSFER 

 

							
	1.	  	The Transferor owns and proposes to transfer the following:
	
	[CHECK ONE OF (a) OR (b)]
				
		  	        (a)	  	 ̈	  	a beneficial interest in the:
				
		  		  	(i)	  	     ̈   144A Global Note (CUSIP
                    ), or
				
		  		  	(ii)	  	     ̈   Regulation S Global Note (CUSIP
                    ), or
				
		  		  	(iii)	  	     ̈   IAI Global Note (CUSIP
                    ); or
				
		  	        (b)	  	 ̈	  	a Restricted Definitive Note.
		
	2.	  	After the Transfer the Transferee will hold:
	
	[CHECK ONE]
				
		  	        (a)	  	 ̈	  	a beneficial interest in the:
				
		  		  	(i)	  	     ̈   144A Global Note (CUSIP
                    ), or
				
		  		  	(ii)	  	     ̈   Regulation S Global Note (CUSIP
                    ), or
				
		  		  	(iii)	  	     ̈   IAI Global Note (CUSIP
                    ); or
				
		  		  	(iv)	  	     ̈   Unrestricted Global Note (CUSIP
                    ); or
				
		  	        (b)	  	 ̈	  	a Restricted Definitive Note; or
				
		  	        (c)	  	 ̈	  	an Unrestricted Definitive Note,
		
		  	        in accordance with the terms of the Indenture.

  
 B-4

 EXHIBIT C 
 [FORM OF CERTIFICATE OF EXCHANGE] 
 GETCO Holding Company, LLC 

One Liberty Plaza 
 165 Broadway, 19th Floor

 New York, NY 10006 
 Attention: John
McCarthy, General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street, Floor 4W 
 New York, NY 10286 

Attention: Corporate Trust Administration 
  

	 	Re:	GETCO Financing Escrow LLC 8.250% Senior Secured Notes due 2018  

 (CUSIP                     ) 
 Reference is hereby made to the Indenture, dated as of June 5, 2013 (the “Indenture”), between GETCO Financing Escrow LLC (the “Company”), and The Bank of New York
Mellon, as trustee and collateral agent. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
                     , (the “Owner”) owns and proposes to exchange the Note[s] or
interest in such Note[s] specified herein, in the principal amount of $         in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the Owner hereby certifies that:

 1. Exchange of Restricted Definitive Notes or Beneficial Interests in a Restricted Global Note for Unrestricted
Definitive Notes or Beneficial Interests in an Unrestricted Global Note 

(a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note
to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the
Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and
pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to
maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(b)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note to
Unrestricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i) the Definitive Note is being acquired for
the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Definitive Note is being acquired in compliance with any applicable blue
sky securities laws of any state of the United States. 

  
 C-1

 (c)  ̈ Check if Exchange is from
Restricted Definitive Note to beneficial interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies
(i) the beneficial interest is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to
and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial
interest is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 (d)  ̈ Check if Exchange is from Restricted Definitive Note to Unrestricted Definitive Note. In connection with the Owner’s Exchange of a Restricted Definitive Note for an Unrestricted Definitive
Note, the Owner hereby certifies (i) the Unrestricted Definitive Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to
Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act and (iv) the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 
 2. Exchange of Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes for Restricted Definitive Notes or Beneficial Interests in Restricted Global Notes 

(a)  ̈ Check if Exchange is from beneficial interest in a Restricted Global Note
to Restricted Definitive Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted
Definitive Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the
restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture and the Securities Act. 
 (b)  ̈ Check if Exchange is from Restricted Definitive Note to beneficial interest in a Restricted Global Note. In connection with the Exchange of the
Owner’s Restricted Definitive Note for a beneficial interest in the [CHECK ONE]  ̈ 144A Global Note,  ̈ Regulation S Global Note,  ̈ IAI Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account without transfer and (ii) such Exchange
has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the
United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
relevant Restricted Global Note and in the Indenture and the Securities Act. 
 This certificate and the statements contained
herein are made for your benefit and the benefit of the Company. 
  

	
	  

	[Insert Name of Transferor]

  
 C-2

 
			
	By:	 	  

		 	Name:
		 	Title:

  

			
	Dated:	 	  

  
 C-3

 EXHIBIT D 
 [FORM OF CERTIFICATE FROM 
 ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR] 

GETCO Holding Company, LLC 
 One Liberty Plaza

 165 Broadway, 19th Floor 
 New York,
NY 10006 
 Attention: John McCarthy, General Counsel 
 The Bank of New York Mellon 
 101 Barclay Street, Floor 4W 

New York, NY 10286 
 Attention: Corporate Trust
Administration 
  

	 	Re:	GETCO Financing Escrow LLC 8.250% Senior Secured Notes due 2018  

 Reference is hereby made to the Indenture, dated as of June 5, 2013 (the “Indenture”), between GETCO Financing Escrow LLC (the “Company”), and The Bank of New York
Mellon, as trustee and collateral agent. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 
 In connection with our proposed purchase of $         aggregate principal amount of: 
 (a)  ̈ a beneficial interest in a Global Note, or 
 (b)  ̈ a Definitive Note, 
 we
confirm that: 
 1. We understand that any subsequent transfer of the Notes or any interest therein is subject to certain
restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Notes or any interest therein except in compliance with, such restrictions and conditions and the
Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the
Notes have not been registered under the Securities Act, and that the Notes and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are
acting as hereinafter stated, that if we should sell the Notes or any interest therein, we will do so only (A) to the Company or any subsidiary thereof, (B) for so long as the Notes are eligible for resale pursuant to Rule 144A under the
Securities Act, to a person it reasonably believes is a “qualified institutional buyer” (as defined therein) that purchases for its own account or for the account of a “qualified institutional buyer” in a transaction meeting the
requirements of, and to which notice is given that the transfer is being made in reliance on, Rule 144A under the Securities Act, (C) pursuant to offers and sales to non-U.S. persons that occur outside the United States in accordance with
Regulation S under the Securities Act and in accordance with the laws applicable to it in the jurisdiction in which such purchase is made, (D) to an institutional “accredited investor” (as defined below) that is acquiring the Notes
for its own account, or for the account of such an institutional accredited investor, for investment purposes and not with a view to, or for offer or sale in connection with, any distribution in violation of the Securities Act in each case that
(i) prior to the transfer, furnished (or has furnished on its behalf by a U.S. broker-dealer) to the Trustee a signed letter in the form of this certificate and (ii) is purchasing in a minimum principal amount of Notes of $250,000,
(E) pursuant to a registration statement that has been declared 

  
 D-1

 
effective under the Securities Act or (F) pursuant to any other available exemption from the registration requirements of the Securities Act, subject, in each of the foregoing cases, to any
requirement of law that the disposition of its property or the property of such investor account or accounts be at all times within its or their control and, in each case, in compliance with applicable securities laws of any state or any other
applicable jurisdiction, and we further agree to provide to any Person purchasing the Definitive Note or beneficial interest in a Global Note from us in a transaction meeting the requirements of clauses (A) through (E) of this paragraph a
notice advising such purchaser that resales thereof are restricted as stated herein. 
 3. We understand that, on any proposed
resale of the Notes or beneficial interest therein, we will be required to furnish to you and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale
complies with the foregoing restrictions. We further understand that the Notes purchased by us will bear a legend to the foregoing effect. 
 4. We are an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in
financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. 

5. We are acquiring the Notes or beneficial interest therein purchased by us for our own account or for one or more accounts (each of
which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You
and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered
hereby. 
  

			
	  

		 	[Insert Name of Accredited Investor]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Dated:	 	  

  
 D-2

 EXHIBIT E 
 [FORM OF NOTATION OF GUARANTEE] 
 For value received, each Guarantor (which term
includes any successor Person under the Indenture) has, jointly and severally, unconditionally guaranteed, to the extent set forth in the Indenture and subject to the provisions in the Indenture dated as of June 5, 2013 (the
“Indenture”) between GETCO Financing Escrow LLC (the “Company”) and The Bank of New York Mellon, as trustee (the “Trustee”) and collateral agent, (a) the due and punctual payment of the
principal of, premium and Additional Interest, if any, and interest on, the Notes, whether at maturity, by acceleration, redemption or otherwise, the due and punctual payment of interest on overdue principal of and interest on the Notes, if any, if
lawful, and the due and punctual performance of all other obligations of the Company to the Holders or the Trustee all in accordance with the terms of the Indenture and (b) in case of any extension of time of payment or renewal of any Notes or
any of such other obligations, that the same will be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration or otherwise. The obligations of the Guarantors to
the Holders of Notes and to the Trustee pursuant to the Note Guarantee and the Indenture are expressly set forth in Article 11 of the Indenture and reference is hereby made to the Indenture for the precise terms of the Note Guarantee. 

Capitalized terms used but not defined herein have the meanings given to them in the Indenture. 

 

			
	[NAME OF GUARANTOR(S)]
		
	By:	 	  

		 	Name:
		 	Title:

  
 E-1

 EXHIBIT F 
 [FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED BY SUBSEQUENT GUARANTORS]

 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of
            , 20    , among                      (the
“Guaranteeing Subsidiary”), a subsidiary of GETCO Financing Escrow LLC (or its permitted successor), a Delaware limited liability company (the “Company”), the Company, the other Guarantors (as defined in the
Indenture referred to herein) and The Bank of New York Mellon, as trustee under the Indenture referred to below (the “Trustee”). 
 W I T N E S S E T H 
 WHEREAS, the Company has heretofore executed and delivered
to the Trustee an indenture (the “Indenture”), dated as of June 5, 2013 providing for the issuance of 8.250% Senior Secured Notes due 2018 (the “Notes”); 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note
Guarantee”); and 
 WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

1. CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to
them in the Indenture. 
 2. AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary
hereby agrees to provide an unconditional Guarantee on the terms and subject to the conditions set forth in the Note Guarantee and in the Indenture including but not limited to Article 11 thereof. 

4. NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator
or stockholder of the Guaranteeing Subsidiary, as such, shall have any liability for any obligations of the Company or any Guaranteeing Subsidiary under the Indenture Documents or this Supplemental Indenture or for any claim based on, in respect of,
or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. Such waiver may not be
effective to waive liabilities under the federal securities laws. 
 5. NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF
NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 6. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy
shall be an original, but all of them together represent the same agreement. 

  
 F-1

 7. EFFECT OF HEADINGS. The Section headings
herein are for convenience only and shall not affect the construction hereof. 
 8. THE TRUSTEE.
The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the
Guaranteeing Subsidiary and the Company. 

  
 F-2

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed and attested, all as of the date first above written. 
 Dated:
            , 20     
  

			
	[GUARANTEEING SUBSIDIARY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[COMPANY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[EXISTING GUARANTORS]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[TRUSTEE],
  as Trustee
		
	By:	 	  

		 	Authorized Signatory

  
 F-3

 EXHIBIT G 
 [FORM OF SUPPLEMENTAL INDENTURE 
 TO BE DELIVERED IN CONNECTION WITH THE KCG
ASSUMPTION] 
 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as
of                     , 20    , between KCG Holdings, Inc. (the “Successor”) and The Bank of New York Mellon,
as trustee under the Indenture referred to below (the “Trustee”). Capitalized terms used herein without definition shall have the meanings ascribed to them in the Indenture. 

W I T N E S S E T H 
 WHEREAS, GETCO Financing Escrow LLC, a Delaware limited liability company (the “Company”) and the Trustee have entered into an Indenture, dated as of June 5, 2013 (as amended,
supplemented or otherwise modified from time to time, the “Indenture”), providing for the issuance by the Company of its 8.250% Senior Secured Notes due 2018 (the “Notes”); 

WHEREAS, the Company and the Successor have [entered into an Agreement and Plan of Merger, dated of even date herewith (the
“Merger Agreement”), which contemplates the filing of a certificate of merger with the Secretary of State of the State of Delaware] providing for the merger (the “Merger”) of the Company with and into the Successor,
with the Successor continuing its corporate existence under the laws of the State of Delaware as the surviving company of the Merger; 
 WHEREAS, Section 5.01 of the Indenture provides, among other things, that the Company may merge with or into another Person; provided that, among other things, (i) the Person formed by
any merger with or into the Company (if other than the Company) expressly assumes all of the obligations of the Company under the Notes and the Indenture pursuant to agreements reasonably satisfactory to the Trustee and (ii) the Indenture, as
so supplemented, remains in full force and effect; 
 WHEREAS, Section 9.01 of the Indenture provides, among other things,
that the Indenture and Notes may be amended or supplemented without the consent of any Holder to provide for the assumption of the Company’s obligations to Holders in the case of a merger consummated pursuant to Article 5 of the Indenture;

 WHEREAS, the Successor desires and has requested that the Trustee join in the execution of this Supplemental Indenture for
the purpose of evidencing such assumption by the Successor; 
 WHEREAS, the execution and delivery of this Supplemental
Indenture has been authorized by resolutions of the boards of directors of the Successor; and 
 WHEREAS, all conditions
precedent and requirements necessary to make this Supplemental Indenture a valid and legally binding instrument in accordance with its terms have been complied with, performed and fulfilled, and the execution and delivery hereof has been in all
respects duly authorized. 

  
 G-1

 NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, the Successor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

ARTICLE 1 

REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF THE SUCCESSOR 
 The Successor represents, warrants and agrees with the Trustee as follows:  

Section 1.1. It is a corporation duly organized, validly existing and in good standing under the laws of Delaware.

 Section 1.2. The execution, delivery and performance by it of this Supplemental Indenture has been authorized and
approved by all necessary corporate action on its part and this Supplemental Indenture is its valid and legally binding obligation, enforceable against it in accordance with its terms. 

Section 1.3. The Merger will become effective in accordance with the laws of the State of Delaware when the certificate of
merger, with respect to the Merger, is accepted by the Secretary of State of the State of Delaware (the time the Merger becomes effective being the “Effective Time”). Notice of the Effective Time shall be promptly provided by the
Successor to the Trustee. 
 Section 1.4. The Indenture, as supplemented by this Supplemental Indenture, shall
remain in full force and effect in accordance with its terms immediately after the execution of this Supplemental Indenture. 

ARTICLE 2 

ASSUMPTION AND AGREEMENTS 
 Section 2.1. As of the Effective Time, the Successor hereby assumes the due and punctual payment of the principal of, premium, if any, and interest and Additional Interest, if any, on the
Notes, and the due and punctual performance and observance of all other covenants, conditions and other obligations contained in the Indenture on the part of the Company to be performed or observed. 

Section 2.2. Notes authenticated and delivered after the execution of this Supplemental Indenture may, and shall, if required
by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in this Supplemental Indenture. 

Section 2.3. The Successor shall succeed to, and be substituted for, and may exercise every right and power of, the Company
under the Indenture and the Notes, with the same effect as if the Successor had been named as “the Company” therein. 

ARTICLE 3 

MISCELLANEOUS 

Section 3.1. EFFECTIVENESS. This Supplemental Indenture shall be effective upon execution by the parties
hereto. 
 Section 3.2. RECITALS. The recitals contained herein shall be taken as the statements of
the Successor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity of this Supplemental Indenture. 
 Section 3.3. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THEREOF SHALL GOVERN AND BE USED TO CONSTRUE THIS
SUPPLEMENTAL INDENTURE. 

  
 G-2

 Section 3.4. COUNTERPARTS. The parties may sign any number of
copies of this Supplemental Indenture (including by electronic transmission). Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages
by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties
hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 3.5. EFFECT OF HEADINGS. The Section headings herein are for convenience
only and shall not affect the construction hereof. 
 [Signature pages follow] 

  
 G-3

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

			
	KCG Holdings, Inc., as the Successor
		
	By:	 	  

	Name:
	Title:
	
	THE BANK OF NEW YORK MELLON, as Trustee and Collateral Agent
		
	By:	 	  

	Name:
	Title:

  
 G-4

 EXHIBIT H 
  

 
  

SECURITY AGREEMENT 
 By 
 KCG HOLDINGS, INC. 

(as successor to GETCO FINANCING ESCROW LLC) 
 as Issuer 
 and 

THE GUARANTORS PARTY HERETO 
 and 
 THE BANK OF NEW YORK MELLON, 

as Collateral Agent and as Trustee 
 Dated as of [            ], 2013 
  

 
  

  
 i 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page(s)	 
		
	 ARTICLE I DEFINITIONS AND INTERPRETATION
	  	 	2	  
			
	 SECTION 1.1
	 	 Definitions
	  	 	2	  
	 SECTION 1.2
	 	 Interpretation
	  	 	10	  
	 SECTION 1.3
	 	 Resolution of Drafting Ambiguities
	  	 	10	  
	 SECTION 1.4
	 	 Perfection Certificate
	  	 	10	  
		
	 ARTICLE II GRANT OF SECURITY AND SECURED OBLIGATIONS
	  	 	10	  
			
	 SECTION 2.1
	 	 Grant of Security Interest
	  	 	10	  
	 SECTION 2.2
	 	 Filings
	  	 	12	  
		
	 ARTICLE III PERFECTION; SUPPLEMENTS; FURTHER ASSURANCES; USE OF PLEDGED COLLATERAL
	  	 	13	  
			
	 SECTION 3.1
	 	 Delivery of Certificated Securities Collateral
	  	 	13	  
	 SECTION 3.2
	 	 Perfection of Uncertificated Securities Collateral
	  	 	13	  
	 SECTION 3.3
	 	 Financing Statements and Other Filings; Maintenance of Perfected Security Interest
	  	 	14	  
	 SECTION 3.4
	 	 Other Actions
	  	 	14	  
	 SECTION 3.5
	 	 Joinder of Additional Guarantors
	  	 	17	  
	 SECTION 3.6
	 	 Supplements; Further Assurances
	  	 	18	  
	 SECTION 3.7
	 	 Perfection in Non-U.S. jurisdictions
	  	 	18	  
		
	 ARTICLE IV REPRESENTATIONS, WARRANTIES AND COVENANTS
	  	 	19	  
			
	 SECTION 4.1
	 	 Title
	  	 	19	  
	 SECTION 4.2
	 	 Validity of Security Interest
	  	 	19	  
	 SECTION 4.3
	 	 Defense of Claims; Transferability of Pledged Collateral
	  	 	19	  
	 SECTION 4.4
	 	 Other Financing Statements
	  	 	19	  
	 SECTION 4.5
	 	 Chief Executive Office; Change of Name; Jurisdiction of Organization, etc.
	  	 	20	  
	 SECTION 4.6
	 	 Location of Inventory and Equipment
	  	 	20	  
	 SECTION 4.7
	 	 Corporate Names; Prior Transactions
	  	 	21	  
	 SECTION 4.8
	 	 Due Authorization and Issuance
	  	 	21	  
	 SECTION 4.9
	 	 Consents, etc.
	  	 	21	  
	 SECTION 4.10
	 	 Pledged Collateral
	  	 	21	  
	 SECTION 4.11
	 	 Insurance
	  	 	22	  
	 SECTION 4.12
	 	 Payment of Taxes; Compliance with Legal Requirements; Contesting Liens; Charges
	  	 	22	  
	 SECTION 4.13
	 	 Other Information
	  	 	22	  

  
 ii 

							
		
	 ARTICLE V CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL
	  	 	22	  
			
	 SECTION 5.1
	 	 Pledge of Additional Securities Collateral
	  	 	22	  
	 SECTION 5.2
	 	 Voting Rights; Distributions; etc.
	  	 	23	  
	 SECTION 5.3
	 	 Organizational Documents
	  	 	24	  
	 SECTION 5.4
	 	 Certain Agreements of Pledgors as Issuers and Holders of Equity Interests
	  	 	24	  
		
	 ARTICLE VI CERTAIN PROVISIONS CONCERNING INTELLECTUAL PROPERTY COLLATERAL
	  	 	24	  
			
	 SECTION 6.1
	 	 Registration
	  	 	24	  
	 SECTION 6.2
	 	 No Violations or Proceedings
	  	 	25	  
	 SECTION 6.3
	 	 Maintenance of Registration
	  	 	25	  
	 SECTION 6.4
	 	 Licenses and Assignments
	  	 	25	  
	 SECTION 6.5
	 	 Protection of Collateral Agent’s Security
	  	 	25	  
	 SECTION 6.6
	 	 After-Acquired Property
	  	 	26	  
	 SECTION 6.7
	 	 Litigation
	  	 	27	  
		
	 ARTICLE VII CERTAIN PROVISIONS CONCERNING ACCOUNTS
	  	 	27	  
			
	 SECTION 7.1
	 	 Special Representation and Warranties
	  	 	27	  
	 SECTION 7.2
	 	 Maintenance of Records
	  	 	27	  
	 SECTION 7.3
	 	 Legend
	  	 	28	  
	 SECTION 7.4
	 	 Modification of Terms, etc
	  	 	28	  
	 SECTION 7.5
	 	 Collection
	  	 	28	  
		
	 ARTICLE VIII REMEDIES
	  	 	28	  
			
	 SECTION 8.1
	 	 Remedies
	  	 	28	  
	 SECTION 8.2
	 	 Notice of Sale
	  	 	30	  
	 SECTION 8.3
	 	 Waiver of Notice and Claims; Other Waivers; Marshalling
	  	 	30	  
	 SECTION 8.4
	 	 Standards for Exercising Rights and Remedies
	  	 	31	  
	 SECTION 8.5
	 	 Certain Sales of Pledged Collateral
	  	 	32	  
	 SECTION 8.6
	 	 No Waiver; Cumulative Remedies
	  	 	33	  
	 SECTION 8.7
	 	 Certain Additional Actions Regarding Intellectual Property Collateral
	  	 	33	  
		
	 ARTICLE IX COLLATERAL AGENT
	  	 	34	  
			
	 SECTION 9.1
	 	 Limitation of Duties
	  	 	34	  
	 SECTION 9.2
	 	 Reasonable Care
	  	 	35	  
	 SECTION 9.3
	 	 Expenses; Indemnity
	  	 	37	  
		
	 ARTICLE X APPLICATION OF PROCEEDS
	  	 	38	  
			
	 SECTION 10.1
	 	 Application of Proceeds
	  	 	38	  

  
 iii

							
		
	 ARTICLE XI MISCELLANEOUS
	  	 	39	  
			
	 SECTION 11.1
	 	 Rights of Collateral Agent
	  	 	39	  
	 SECTION 11.2
	 	 Collateral Agent May Perform; Collateral Agent Appointed Attorneys-in-Fact
	  	 	40	  
	 SECTION 11.3
	 	 Continuing Security Interest; Assignment
	  	 	40	  
	 SECTION 11.4
	 	 Termination; Release
	  	 	40	  
	 SECTION 11.5
	 	 Modification in Writing
	  	 	41	  
	 SECTION 11.6
	 	 Notices
	  	 	41	  
	 SECTION 11.7
	 	 Governing Law, Consent to Jurisdiction and Service of Process; Waiver of Jury Trial
	  	 	42	  
	 SECTION 11.8
	 	 Severability of Provisions
	  	 	43	  
	 SECTION 11.9
	 	 Execution in Counterparts
	  	 	43	  
	 SECTION 11.10
	 	 Business Days
	  	 	43	  
	 SECTION 11.11
	 	 Waiver of Stay
	  	 	43	  
	 SECTION 11.12
	 	 No Credit for Payment of Taxes or Imposition
	  	 	44	  
	 SECTION 11.13
	 	 No Claims Against the Collateral Agent
	  	 	44	  
	 SECTION 11.14
	 	 No Release
	  	 	44	  
	 SECTION 11.15
	 	 Overdue Amounts
	  	 	44	  
	 SECTION 11.16
	 	 Actions Requiring Governmental Authority Approval
	  	 	44	  
	 SECTION 11.17
	 	 Judgment Currency
	  	 	45	  
	 SECTION 11.18
	 	 Obligations Absolute
	  	 	45	  
	 SECTION 11.19
	 	 Pari Passu Indebtedness
	  	 	46	  

  

					
	SCHEDULES	  	
			
	 Schedule 1
	 	 Perfection Steps
	  	
		
	 EXHIBITS
	  	
			
	 Exhibit 1
	 	 Acknowledgment by Issuer of Pledged Securities
	  	
	 Exhibit 2
	 	 Securities Pledge Amendment
	  	
	 Exhibit 3
	 	 Joinder Agreement
	  	
	 Exhibit 4
	 	 Copyright Security Agreement
	  	
	 Exhibit 5
	 	 Patent Security Agreement
	  	
	 Exhibit 6
	 	 Trademark Security Agreement
	  	
	 Exhibit 7
	 	 Accession Agreement
	  	

  
 iv 

 SECURITY AGREEMENT 
 This Security Agreement, dated as of [            ], 2013 (as amended, amended and restated, supplemented or otherwise modified from time to
time in accordance with the provisions hereof, this “Agreement”), made by the Guarantors from time to time party hereto by execution of this Agreement or otherwise by execution of a Joinder Agreement (the
“Guarantors”) and KCG Holdings, Inc. (as successor to GETCO Financing Escrow LLC), a Delaware corporation (the “Issuer”), as pledgors, Pledgors and debtors (the Issuer, together with the Guarantors, in such
capacities and together with any successors in such capacities, the “Pledgors,” and each, a “Pledgor”), in favor of The Bank of New York Mellon, in its capacities as Trustee and as collateral agent (together with
any successor thereto, the “Collateral Agent” for the benefit of the Notes Secured Parties (as defined in the Indenture referred to below). 
 R E C I T A L S: 
 A. The
Issuer is issuing $305,000,000 aggregate principal amount of 8.250% Senior Secured Notes due 2018 (together with all Additional Notes issued from time to time after the date hereof under, and in accordance with, the Indenture (as defined below) and
all notes issued in replacement therefor under the Indenture (as defined below), the “Notes”) pursuant to an indenture dated as of June 5, 2013 (the “Indenture”) among the Issuer, the Guarantors, the Collateral
Agent and The Bank of New York Mellon, as trustee (together with any successor thereto, the “Trustee”). 
 B.
Certain Subsidiaries of the Issuer are required under the Indenture to (a) become a party to the Indenture and guarantee the payment of the Notes and the other Indenture Obligations of the Issuer thereunder and the other Indenture Documents to
which the Issuer is a party and (b) become a party hereto as a Pledgor and secure its Indenture Obligations under the Indenture and the other Indenture Documents to which it is a party pursuant to the terms hereof. 

C. Pursuant to the Note Guarantees, the Pledgors (other than the Issuer) have jointly and severally guaranteed the payment when due of
all Indenture Obligations under the Notes, the Indenture and the other Indenture Documents as provided therein. 
 D. In order
to induce (i) the purchasers to purchase the Notes, (ii) each Holder to hold the Notes, and (iii) The Bank of New York Mellon, to act as trustee and as collateral agent, the Pledgors have agreed to grant to the Collateral Agent a
continuing security interest in and to the Collateral (as defined below) in order to secure the prompt and complete payment, observance and performance of, among other things, their respective Secured Obligations (as defined below). 

E. Each Pledgor will obtain benefits from the issuance of the Notes under the Indenture and, accordingly, desires to execute this
Agreement. 
 F. The Collateral Agent has agreed to act as agent for the benefit of the Notes Secured Parties in connection with
the transactions contemplated by the Indenture and this Agreement. 

  
 1 

 A G R E E M E N T: 

NOW THEREFORE, in consideration of the benefits accruing to each Pledgor, the receipt and sufficiency of which are hereby acknowledged,
each Pledgor hereby makes the following representations and warranties to the Collateral Agent for the benefit of the Notes Secured Parties and hereby covenants and agrees with the Collateral Agent for the benefit of the Notes Secured Parties as
follows: 
 ARTICLE I 
 DEFINITIONS AND INTERPRETATION 
 SECTION 1.1 Definitions. 

(a) Unless otherwise defined herein or in the Indenture, capitalized terms used herein that are defined in the UCC shall have the
meanings assigned to them in the UCC. 
 (b) Terms used but not otherwise defined herein that are defined in the Indenture shall
have the meanings given to them in the Indenture. 
 (c) The following terms shall have the following meanings: 

“Accession Agreement” means an accession agreement, if any, to this Agreement, in substantially the form of Exhibit 7
hereto, entered into by the Pledgors, the trustee, agent, or other representative for the holders of any Pari Passu Indebtedness and the Collateral Agent from time to time. 
 “Acquisition Documents” shall mean the collective reference to the documents entered into by any Pledgor in connection with the Acquisition described in the Offering Memorandum.

 “Acquisition Document Rights” shall mean, with respect to each Pledgor, collectively, all of such
Pledgor’s rights, title and interest in, to and under the Acquisition Documents, including (i) all rights and remedies relating to monetary damages, including indemnification rights and remedies, and claims for damages or other relief
pursuant to or in respect of the Acquisition Documents, (ii) all rights and remedies relating to monetary damages, including indemnification rights and remedies, and claims for monetary damages under or in respect of the agreements, documents
and instruments referred to in the Acquisition Documents or related thereto and (iii) all proceeds, collections, recoveries and rights of subrogation with respect to the foregoing. 

“Additional Pledged Interests” shall mean, collectively, with respect to each Pledgor, (i) all options, warrants,
rights, agreements, additional membership, partnership or other equity interests of whatever class of any issuer of Initial Pledged Interests or any interest in any such issuer, together with all rights, privileges, authority and powers of such
Pledgor relating to such interests in each such issuer or under any Organizational Document of any such issuer, and the certificates, instruments and agreements representing such membership, partnership or other interests and any and all interest of
such Pledgor in the entries on the books of any financial intermediary pertaining to such membership, partnership or other equity interests from time to time acquired by such Pledgor in any manner and (ii) all membership, partnership or other
equity interests, as applicable, of each limited liability company, partnership or other entity (other than a corporation) hereafter acquired or formed by such Pledgor and all options, warrants, rights, agreements, additional membership, partnership
or other equity interests of whatever class of such limited liability company, partnership or other entity, together with all rights, privileges, authority and powers of such Pledgor relating to such interests or under any Organizational Document of
any such issuer, and the certificates, instruments and agreements representing such membership, partnership or other equity interests and any and all interest of such Pledgor in the entries on the books of any financial intermediary pertaining to
such membership, partnership or other interests, from time to time acquired by such Pledgor in any manner. 

  
 H-2

 “Additional Pledged Shares” shall mean, collectively, with respect to each
Pledgor, (i) all options, warrants, rights, Equity Interests, agreements, additional shares of capital stock of whatever class of any issuer of the Initial Pledged Shares or any other equity interest in any such issuer, together with all
rights, privileges, authority and powers of such Pledgor relating to such interests issued by any such issuer under any Organizational Document of any such issuer, and the certificates, instruments and agreements representing such interests and any
and all interest of such Pledgor in the entries on the books of any financial intermediary pertaining to such interests, from time to time acquired by such Pledgor in any manner and (ii) all the issued and outstanding shares of capital stock of
each corporation hereafter acquired or formed by such Pledgor and all options, warrants, rights, agreements or additional shares of capital stock of whatever class of such corporation, together with all rights, privileges, authority and powers of
such Pledgor relating to such shares or under any Organizational Document of such corporation, and the certificates, instruments and agreements representing such shares and any and all interest of such Pledgor in the entries on the books of any
financial intermediary pertaining to such shares, from time to time acquired by such Pledgor in any manner. 

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

“Charges” shall mean any and all property and other taxes, assessments and special assessments, levies, fees and all
governmental charges imposed upon or assessed against, and all claims (including any landlords’, carriers’, mechanics’, workmen’s, repairmen’s, laborers’, materialmen’s, suppliers’ and warehousemen’s
Liens and other charges arising by operation of law) against, all or any portion of the Pledged Collateral. 

“Collateral Agent” shall have the meaning assigned to such term in the Recitals hereof. 

“Commodity Account Control Agreement” shall mean a commodity account control agreement in a form that is reasonably
satisfactory to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, the Collateral Agent). 
 “Contracts” shall mean, collectively, with respect to each Pledgor, all sale, service, performance, equipment or property lease contracts, Licenses, agreements and grants and all other
contracts, agreements or grants (in each case, whether written or oral, or third party or intercompany), to which such Pledgor is a party, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or
modifications thereof. 
 “Control” shall mean (i) in the case of each Deposit Account,
“control,” as such term is defined in Section 9-104 of the UCC, (ii) in the case of any Security Entitlement, “control,” as such term is defined in Section 8-106 of the UCC and (iii) in the case of any
Commodity Contract, “control,” as such term is defined in Section 9-106 of the UCC. 
 “Control
Agreements” shall mean, collectively, the Deposit Account Control Agreement(s), the Securities Account Control Agreement(s) and the Commodity Account Control Agreement(s). 

“Copyright Security Agreement” shall mean an agreement substantially in the form annexed hereto as Exhibit 4.

 “Copyrights” shall mean all works of authorship, mask works, or other copyrightable works, whether
registered as copyrights or unregistered, and all pending applications for the same, and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom.

  
 H-3

 “Deposit Account Control Agreement” shall mean a deposit account control
agreement in a form that is reasonably satisfactory to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, the Collateral Agent). 
 “Deposit Accounts” shall mean, collectively, with respect to each Pledgor, (i) all “deposit accounts” as such term is defined in the UCC and in any event shall include all
accounts and sub-accounts relating to any of the foregoing accounts and (ii) all cash, funds, checks, notes and instruments from time to time on deposit in, or credited to, any of the accounts or sub-accounts described in clause (i) of
this definition. 
 “Discharge of First Lien Obligations” means: 

(1) payment in full in cash of the principal of and interest (including interest accruing on or after the commencement of any Insolvency
or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding) on all Indebtedness outstanding under the First Lien Loan Documents to the extent constituting First Lien Obligations; 

(2) payment in full in cash of all Hedging Obligations constituting First Lien Obligations or the cash collateralization of all such
Hedging Obligations on terms satisfactory to each applicable counterparty and the expiration or termination of all outstanding transactions under First Lien Hedging Agreements relating thereto; 

(3) payment in full in cash of all other First Lien Obligations that are due and payable or otherwise accrued and owing at or prior
to the time such principal and interest are paid (other than any Obligations relating to indemnification for which no claim or demand for payment, whether oral or written, has been made at such time); 

(4) termination or expiration of all commitments, if any, to extend credit that would constitute First Lien Obligations; and

 (5) termination or cash collateralization (in an amount and manner reasonably satisfactory to the Senior Credit Facility
Agent, but in no event greater than 103% of the aggregate undrawn face amount) of all letters of credit issued under the First Lien Loan Documents and constituting First Lien Obligations. 

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

“Domain Names” shall mean all internet domain names and associated uniform resource locator addresses. 

“Excluded Accounts” shall mean (i) Payroll Accounts, (ii) Deposit Accounts used solely for taxes, including,
without limitation, sales tax, (iii) Deposit Accounts used solely for escrow accounts, (iv)

  
 H-4

 
Deposit Accounts used solely for fiduciary or trust accounts, (v) employee benefits accounts (to the extent exclusively containing funds held for employee benefits), (vi) 401(k)
accounts (to the extent exclusively containing funds held for 401(k) accounts), (vii) pension fund accounts (to the extent exclusively containing funds held for pension funds), (viii) any Deposit Account or Securities Account the funds or
securities in which consist solely of amounts pledged or deposited under clauses (4), (5), (14), (21) and (24) of the definition of “Permitted Liens” in the Indenture, and (ix) Deposit Accounts the daily balance in which
does not at any time exceed $1,000,000 for any such Deposit Account or $3,000,000 in the aggregate for all such Deposit Accounts. 
 “Excluded Property” shall mean (A) any lease, license, contract, property rights or other agreement, or any property subject to a purchase money security interest or similar
arrangement, to which any Pledgor is a party, any of its rights or interests thereunder, or any assets subject thereto, if and for so long as the grant of such security interest shall constitute or result in (i) the abandonment, invalidation or
unenforceability of any right, title or interest of any Pledgor therein or (ii) a breach or termination pursuant to the terms of, or a default under, any such lease, license, contract, property rights or other agreement, or agreement in
connection with any property subject to a purchase money security interest or similar arrangement (other than to the extent that any such term would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC (or any
successor provision or provisions) of any relevant jurisdiction after giving effect to the applicable anti-assignment provisions of the UCC or any other applicable Legal Requirement (including the Bankruptcy Code) or principles of equity);
provided, however, that in the case of (i), such security interest shall attach immediately and automatically at such time as the condition causing such abandonment, invalidation or unenforceability shall be remedied; provided,
further, that, to the extent severable, shall attach immediately to any portion of such lease, license, contract, property rights or agreement that does not result in any of the consequences specified in (i) or (ii) including any
Proceeds and receivables of such lease, license, contract, property rights or agreement; (B) any assets the grant of a pledge or other security interest thereunder would be prohibited by any Legal Requirement (other than the Organizational
Documents of any Pledgor or Subsidiary thereof); (C) any assets of a Foreign Subsidiary and any of the outstanding Voting Stock of any Foreign Subsidiary in excess of 66% of the total Voting Stock of such Foreign Subsidiary; (D) any of the
outstanding Equity Interests of any person other than a Wholly Owned Subsidiary if and to the extent that the grant of a security interest in such Equity Interests pursuant to this Agreement is prohibited by the terms of such person’s
Organizational Documents or joint venture documents, so long as such restrictions did not arise in anticipation of the Indenture Documents and the liens to be created hereunder; (E) any of the outstanding Equity Interests of any Excluded
Regulated Restricted Subsidiary if such Pledgor has certified to the Collateral Agent in writing that in its reasonable judgment the grant of a security interest in such Equity Interests pursuant to the Collateral Documents would have a materially
adverse regulatory effect or is not permitted by applicable law; (F) Letter-of-Credit Rights (except to the extent perfection therein can be obtained by filing of UCC financing statements); (G) any governmental licenses or state or local
franchises, charters and authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby; (H) any Trademark applications filed in the United States Patent and
Trademark Office on the basis of any Pledgor’s “intent-to-use” such Trademark, unless and until acceptable evidence of such use of such Trademark has been filed with the United States Patent and Trademark Office pursuant to
Section 1(c) or Section 1(d) of the Lanham Act (15 U.S.C. 1051, et. seq.), to the extent that granting a lien in such Trademark application prior to such filing would adversely affect the enforceability or validity of such Trademark
application or an ensuing registration; (I) Excluded Accounts; (J) any Motor Vehicles or other assets subject to certificates of title (except to the extent perfection therein can be obtained by filing of UCC financing statements); and
(K) those assets as to which the Collateral Agent and the Issuer reasonably agree in writing that the cost of obtaining a security interest in or perfection thereof is excessive in relation to the benefit to the Notes Secured Parties of the
security to be afforded thereby. 

  
 H-5

 “Excluded Regulated Restricted Subsidiary” shall mean any Restricted
Subsidiary of the Issuer that is a (i) Broker-Dealer Subsidiary or a Subsidiary of a Broker-Dealer Subsidiary or (ii) another regulated entity or a licensed mortgage Restricted Subsidiary, in each case in respect of which the guaranteeing
by such Restricted Subsidiary of the Indenture Obligations could, in the good faith judgment of the Issuer, reasonably be expected to result in adverse regulatory effects to such Restricted Subsidiary or impair the conduct of the business of such
Restricted Subsidiary. 
 “First Lien Secured Parties” means, collectively, (a) the Senior Credit Facility
Secured Parties, (b) any lenders under Indebtedness constituting First Lien Obligations, (c) each other Person to whom any First Lien Obligations are owed and (d) the successors, replacements and assigns of each of the foregoing,
sometimes being referred to herein individually as a “First Lien Secured Party.” 
 “General
Intangibles” shall mean, collectively, with respect to each Pledgor, all “general intangibles,” as such term is defined in the UCC, of such Pledgor and, in any event, shall include (i) all of such Pledgor’s rights, title
and interest in, to and under all insurance policies and coverages and Contracts, (ii) all know-how and warranties relating to any of the Pledged Collateral or any of the Mortgaged Property, (iii) any and all other rights, claims,
choses-in-action and causes of action of such Pledgor against any other person and the benefits of any and all collateral or other security given by any other person in connection therewith (other than Commercial Tort Claims), (iv) all
guarantees, endorsements and indemnifications on, or of, any of the Pledged Collateral or any of the Mortgaged Property, (v) all lists, books, records, correspondence, ledgers, printouts, files (whether in printed form or stored
electronically), tapes and other papers or materials containing information relating to any of the Pledged Collateral or any of the Mortgaged Property, including all customer or tenant lists, identification of suppliers, data, plans, blueprints,
specifications, designs, drawings, appraisals, recorded knowledge, surveys, studies, engineering reports, test reports, manuals, standards, processing standards, performance standards, catalogs, research data, computer and automatic machinery
software and programs and the like, field repair data, accounting information pertaining to such Pledgor’s operations or any of the Pledged Collateral or any of the Mortgaged Property and all media in which or on which any of the information or
knowledge or data, or software or computer programs subject to the definition of “Software” or records may be recorded or stored and all computer programs used for the compilation or printout of such information, knowledge, records or
data, (vi) all licenses, consents, permits, variances, certifications, authorizations and approvals, however characterized, of any Governmental Authority (or any person acting on behalf of a Governmental Authority) now or hereafter acquired or
held by such Pledgor pertaining to operations now or hereafter conducted by such Pledgor or any of the Pledged Collateral or any of the Mortgaged Property including building permits, certificates of occupancy, environmental certificates, industrial
permits or licenses and certificates of operation and (vii) all rights to reserves, payment intangibles, deferred payments, deposits, refunds or indemnification claims to the extent the foregoing relate to any Pledged Collateral or any
Mortgaged Property and claims for tax or other refunds against any Governmental Authority relating to any Pledged Collateral or any of the Mortgaged Property. 
 “Guarantors” shall have the meaning assigned to such term in the Preamble hereof. 
 “Indenture” shall have the meaning assigned to such term in the Recitals hereof. 
 “Initial Pledged Interests” shall mean, collectively, with respect to each Pledgor, all membership, partnership or other Equity Interests (other than in a corporation), as applicable, of
each issuer described 

  
 H-6

 
in Schedule 10 to the Perfection Certificate, together with all rights, privileges, authority and powers of such Pledgor in and to each such issuer or under any Organizational Document of each
such issuer, and the certificates, instruments and agreements representing such membership, partnership or other interests and any and all interest of such Pledgor in the entries on the books of any financial intermediary pertaining to such
membership, partnership or other interests. 
 “Initial Pledged Shares” shall mean, collectively, with respect
to each Pledgor, the issued and outstanding shares of capital stock of each issuer that is a corporation described in Schedule 10 to the Perfection Certificate, together with all rights, privileges, authority and powers of such Pledgor relating to
such interests in each such issuer or under any Organizational Document of each such issuer, and the certificates, instruments and agreements representing such shares of capital stock and any and all interest of such Pledgor in the entries on the
books of any financial intermediary pertaining to the Initial Pledged Shares. 
 “Instructing Group” shall have
the meaning assigned to such term in Section 11.19(c) of this Agreement. 
 “Instruments” shall
mean, collectively, with respect to each Pledgor, all “instruments,” as such term is defined in Article 9, rather than Article 3, of the UCC, and shall include all promissory notes, drafts, bills of exchange or acceptances. 

“Intellectual Property” shall mean, collectively, the Patents, Trademarks, Copyrights, Trade Secrets, Software and
Domain Names. 
 “Intellectual Property Collateral” shall mean the rights in Intellectual Property owned by
each Pledgor, including the Intellectual Property listed in Schedule 13(a) to the Perfection Certificate. 

“Intercompany Notes” shall mean, with respect to each Pledgor, the Intercompany Note and all intercompany notes
hereafter acquired by such Pledgor and all certificates, instruments or agreements evidencing the Intercompany Note and such intercompany notes, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or
modifications thereof to the extent permitted pursuant to the terms hereof. 
 “Investment Property” shall mean
a security, whether certificated or uncertificated, Security Entitlement, Securities Account, Commodity Contract or Commodity Account, excluding, however, the Securities Collateral. 

“Issuer” shall have the meaning assigned to such term in the Preamble hereof. 

“Joinder Agreement” shall mean an agreement substantially in the form annexed hereto as Exhibit 3. 

“Letter-of-Credit Rights” shall mean letter-of-credit right (as that term is defined in the UCC). 

“Licenses” shall mean, collectively, with respect to each Pledgor, all license agreements with, and covenants not to
sue, any other party with respect to any Intellectual Property, whether such Pledgor is a licensor or licensee, under any such license agreement, together with any and all (i) renewals, extensions and supplements thereof, (ii) income,
fees, royalties, damages, claims and payments now and hereafter due and/or payable thereunder and with respect thereto including damages and payments for breaches 

  
 H-7

 
thereof, (iii) rights to sue for breaches thereof and (iv) other rights thereunder, in all cases subject to the limitations, restrictions, obligations, covenant and other terms and
conditions of each Contract governing such license to Intellectual Property. 
 “Material Adverse Effect” shall
mean (a) a material adverse effect on, or material adverse change in, the financial condition, results of operations, assets, liabilities (contingent or otherwise) or business of the Issuer and its Restricted Subsidiaries, taken as a whole, or
the Pledgors, taken as a whole, (b) a material impairment of the ability of the Pledgors, taken as a whole, to fully and timely perform any of its obligations under any Indenture Document, (c) a material impairment of the rights of or
benefits or remedies, taken as a whole, available to the Trustee, the Collateral Agent or any other Notes Secured Party under any Indenture Document, or (d) a material adverse effect on the Collateral (or any material portion thereof) or the
validity, enforceability, perfection or priority of the Lien in favor of the Collateral Agent (for its benefit and for the benefit of the other Notes Secured Parties) on the Collateral or any material portion thereof. 

“Mortgaged Property” shall have the meaning assigned to such term in any Mortgages. 

“Motor Vehicles” shall mean motor vehicles that are owned by a Pledgor covered by a certificate of title law of any
state. 
 “Organizational Documents” shall mean, with respect to any person, (i) in the case of any
corporation, the certificate or articles of incorporation and by-laws (or similar documents) of such person, (ii) in the case of any limited liability company, the certificate of formation and operating agreement (or similar documents) of such
person, (iii) in the case of any limited partnership, the certificate of formation and limited partnership agreement (or similar documents) of such person, (iv) in the case of any general partnership, the partnership agreement (or similar
document) of such person, (v) in any other case, the functional equivalent of the foregoing and (vi) any shareholder, voting trust or similar agreement between or among any holder of Equity Interests of such person. 

“Pari Passu Payment Lien Documents” means any loan agreement relating to the Pari Passu Indebtedness and related
documents identified in a Supplement to the Intercreditor Agreement. 
 “Pari Passu Payment Lien Obligations”
means all Obligations in respect of any Pari Passu Indebtedness or arising under Pari Passu Payment Lien Documents. 

“Patent Security Agreement” shall mean an agreement substantially in the form annexed hereto as Exhibit 5.

 “Patents” shall mean all patents, patent applications, patent disclosures and inventions, including any
continuations, divisions, continuations-in-part, renewals, and reissues for any of the foregoing, and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages
therefrom. 
 “Payroll Account” shall mean any Deposit Account of a Pledgor that is used by such Pledgor solely
as a payroll account for the employees of such Pledgor. 
 “Perfection Certificate” shall mean that certain
perfection certificate dated the date hereof, executed and delivered by each Pledgor in favor of the Collateral Agent for the benefit of the Notes Secured Parties in the same form executed and delivered to the Senior Credit Facility Agent, and each

  
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other Perfection Certificate (which shall be in form and substance similar to that provided to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect,
reasonably acceptable to the Collateral Agent)) executed and delivered by the applicable Pledgor in favor of the Collateral Agent for the benefit of the Notes Secured Parties contemporaneously with the execution and delivery of each Joinder
Agreement executed in accordance with Section 3.5, in each case, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time by a Perfection Certificate Supplement or otherwise in accordance
with the Indenture. 
 “Perfection Certificate Supplement” shall mean a perfection certificate supplement
executed by Responsible Officer of the Issuer and addressed to the Collateral Agent, in form and substance similar to that being provided at the same time to the Senior Credit Facility Agent. 

“Pledged Collateral” shall have the meaning assigned to such term in Section 2.1. 

“Pledged Interests” shall mean, collectively, the Initial Pledged Interests and the Additional Pledged Interests.

 “Pledged Securities” shall mean, collectively, the Pledged Interests, the Pledged Shares and the Successor
Interests. 
 “Pledged Shares” shall mean, collectively, the Initial Pledged Shares and the Additional Pledged
Shares. 
 “Pledgor” shall have the meaning assigned to such term in the Preamble hereof. 

“Regulated Subsidiary” shall mean any Broker-Dealer Subsidiary or other Excluded Regulated Restricted Subsidiary.

 “Secured Obligations” shall mean, collectively, the Indenture Obligations and the Pari Passu Payment Lien
Obligations, if any. 
 “Securities Account Control Agreement” shall mean a securities account control
agreement in a form that is reasonably satisfactory to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, the Collateral Agent). 
 “Securities Collateral” shall mean, collectively, the Pledged Securities, the Intercompany Notes and the Distributions. 

“Securities Pledge Amendment” shall mean an agreement substantially in the form annexed hereto as Exhibit 2.

 “Software” shall mean rights in intellectual property comprising computer programs, object code, source code
and supporting documentation, including, without limitation, “software” as such term is defined in the UCC, and computer programs that may be construed as included in the definition of “goods” in the UCC. 

“Successor Interests” shall mean, collectively, with respect to each Pledgor, all shares of each class of the capital
stock of the successor corporation or interests or certificates of the successor limited liability company, partnership or other entity owned by such Pledgor (unless such successor is such Pledgor itself) formed by or resulting from any
consolidation or merger in which any person listed on Schedule 1(a) to the Perfection Certificate is not the surviving entity. 

  
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 “Termination Time” shall have the meaning assigned to such term in
Section 9.1(d). 
 “Trademark Security Agreement” shall mean an agreement substantially in the form
annexed hereto as Exhibit 6. 
 “Trademarks” shall mean all trademarks, service marks and trade dress,
including trade names logos, slogans, and other indicia of origin, whether registered or unregistered, and all applications for the same, together (in each case) with all of the goodwill associated therewith, rights of publicity (including names,
images, likenesses, and personas), and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 

“Trade Secrets” shall mean all trade secrets or other proprietary and confidential information including unpatented
inventions, invention disclosures, financial data, technical data, personal information, customer lists, supplier lists, business plans, know-how, formulae, methods (whether or not patentable), designs, processes, procedures, source code, object
code, and data collections, and all rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 

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

SECTION 1.2 Interpretation. The rules of interpretation specified in the Indenture (including Section 1.03 thereof) shall be
applicable to this Agreement. 
 SECTION 1.3 Resolution of Drafting Ambiguities. Each Pledgor acknowledges and agrees
that it was represented by counsel in connection with the execution and delivery hereof, that it and its counsel reviewed and participated in the preparation and negotiation hereof and that any rule of construction to the effect that ambiguities are
to be resolved against the drafting party (i.e., the Collateral Agent) shall not be employed in the interpretation hereof. 

SECTION 1.4 Perfection Certificate. The Perfection Certificate and all descriptions of Pledged Collateral, schedules, amendments
and supplements thereto are and shall at all times remain a part of this Agreement. 
 ARTICLE II 

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

  
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 (b) all Equipment, Goods, Inventory and Fixtures; 

(c) all Documents, Instruments and Chattel Paper (including all Tangible Chattel Paper and all Electronic Chattel Paper); 

(d) all Letter-of-Credit Rights (whether or not the letter of credit is evidenced by a writing); 

(e) all Securities Collateral; 
 (f) all Investment Property (including all Securities Accounts and Commodity Accounts); 
 (g) all Intellectual Property Collateral; 
 (h) all Commercial Tort Claims
(including all Commercial Tort Claims described on Schedule 14 to the Perfection Certificate); 
 (i) all General Intangibles;

 (j) all Deposit Accounts; 
 (k) all Money; 
 (l) all Acquisition Documents and Acquisition Document Rights;

 (m) all Supporting Obligations; 
 (n) all books and records pertaining to the Pledged Collateral (including, without limitation, all books, customer lists, and records, whether tangible or electronic, which contain any information or data
relating to any of the foregoing); 
 (o) to the extent not covered by clauses (i) through (xiv) of this sentence,
choses in action and all other personal property of such Pledgor, whether tangible or intangible; and 
 (p) all Proceeds and
products of each of the foregoing and all accessions to, substitutions and replacements for, and rents, profits and products of, each of the foregoing, and any and all Proceeds of any insurance, indemnity, warranty or guarantee payable to such
Pledgor from time to time with respect to any of the foregoing. 
 Notwithstanding anything to the contrary contained in clauses
(a) through (p) above, the security interest created by this Agreement shall not extend to, and the term “Pledged Collateral” shall not include, any Excluded Property and the Pledgors shall from time to time at the reasonable
request of the Collateral Agent give written notice to the Collateral Agent identifying in reasonable detail the Excluded Property and shall provide to the Collateral Agent such other information regarding the Excluded Property as the Collateral
Agent may reasonably request. 

  
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 Notwithstanding anything herein to the contrary, the Lien and security interest granted to
the Collateral Agent pursuant to this Agreement, and the exercise of any right or remedy by such Collateral Agent hereunder are subject to the provisions of the Intercreditor Agreement. In the event of any conflict between the terms of the
Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control. 

Notwithstanding anything to the contrary herein, to the extent any security interest under a Collateral Document (other than (x) by
the filing of a financing statement under the UCC, and (y) by the delivery of stock certificates of each Guarantor and the other material Domestic Subsidiaries of the Issuer, to the extent that Capital Stock of each such person is in
certificated form) is not perfected on the date of this Agreement after the use of the Pledgors’ commercially reasonable efforts to do so, the Pledgors may have an additional 60 days after the date of this Agreement within which to create and
perfect such security interest (or such later date as may be permitted by the Senior Credit Facility Agent). 
 SECTION 2.2
Filings. 
 (a) Each Pledgor hereby irrevocably authorizes the Collateral Agent (but the Collateral Agent is not
obligated) at any time and from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings), continuation statements and amendments thereto that contain the information required by Article 9 of the
UCC of each applicable jurisdiction for the filing of any financing statement, continuation statement or amendment relating to the Pledged Collateral, including (i) whether such Pledgor is an organization, the type of organization and any
organizational identification number issued to such Pledgor, and (ii) in the case of a financing statement filed as a fixture filing or covering Pledged Collateral constituting minerals or the like to be extracted or timber to be cut, a
sufficient description of the real property to which such Pledged Collateral relates. Such financing statements may describe the collateral in the same manner as described herein or may contain a description of collateral that describes such
property in any other manner as is necessary or advisable to ensure the perfection or priority of the security interest in the collateral granted to the Collateral Agent in connection herewith, including, describing such property as “all assets
whether now owned or hereafter acquired” or “all personal property whether now owned or hereafter acquired” (regardless of whether any particular asset comprised in the Pledged Collateral falls within the scope of Article 9 of the
UCC). 
 (b) Each Pledgor hereby ratifies its authorization for (without imposing any duty on the Collateral Agent) to file in
any relevant jurisdiction any initial financing statements or amendments thereto relating to the Pledged Collateral if filed prior to the date hereof. 
 (c) Each Pledgor hereby further authorizes the Collateral Agent (but the Collateral Agent is not obligated) to file filings with the United States Patent and Trademark Office or the United States
Copyright Office (or any successor office or any similar office in any other country), including this Agreement, the Copyright Security Agreement, the Patent Security Agreement and the Trademark Security Agreement, or other documents for the purpose
of perfecting, confirming, continuing, enforcing or protecting the pledge and security interest granted by such Pledgor hereunder, without the signature of such Pledgor, and naming such Pledgor, as debtor, and the Collateral Agent, as secured party.

  
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 (d) For the avoidance of doubt, neither the Trustee nor the Collateral Agent shall be under
any obligation whatsoever to file any financing or continuation statements or make any other filings described in this Section 2.2. 
 ARTICLE III 
 PERFECTION; SUPPLEMENTS; FURTHER ASSURANCES; 

USE OF PLEDGED COLLATERAL 
 SECTION 3.1 Delivery of Certificated Securities Collateral. Each Pledgor represents and warrants that all certificates, agreements or instruments representing or evidencing the Securities
Collateral in existence on the date hereof have been delivered to the Collateral Agent in suitable form for transfer by delivery or accompanied by duly executed instruments of transfer or assignment in blank and that the Collateral Agent has a
valid, enforceable, perfected security interest subject to no Liens other than to Permitted Liens. Each Pledgor hereby agrees that all certificates, agreements or instruments representing or evidencing Securities Collateral acquired by such Pledgor
after the date hereof shall promptly (and in any event within 10 Business Days for issuers organized in the United States or 20 Business Days for issuers organized outside of the United States or such longer period as may be agreed to by the
Collateral Agent in writing in its sole discretion) upon receipt thereof by such Pledgor be delivered to and held by or on behalf of the Collateral Agent pursuant hereto. All certificated Securities Collateral shall be in suitable form for transfer
by delivery or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, the
Collateral Agent). The Collateral Agent shall have the right, at any time upon the occurrence and during the continuance of any Event of Default, to endorse, assign or otherwise transfer to or to register in the name of the Collateral Agent or any
of its nominees or endorse for negotiation any or all of the Securities Collateral, without any indication that such Securities Collateral is subject to the security interest hereunder. In addition, the Collateral Agent shall have the right at any
time to exchange certificates representing or evidencing Securities Collateral for certificates of smaller or larger denominations. 
 SECTION 3.2 Perfection of Uncertificated Securities Collateral. Each Pledgor represents and warrants that the Collateral Agent has a valid, enforceable, perfected security interest subject to no
Liens other than Permitted Liens in all uncertificated Pledged Securities pledged by it hereunder that are in existence on the date hereof. Each Pledgor hereby agrees that if any issuer of Pledged Securities is organized in a jurisdiction that does
not require the use of certificates to evidence equity ownership or any of the Pledged Securities are at any time not evidenced by certificates of ownership, then each applicable Pledgor shall, (i) if necessary to perfect a security interest
subject to no Liens other than Permitted Liens in such Pledged Securities, cause such pledge to be recorded on the equityholder register or the books of the issuer, cause the issuer to execute and deliver to the Collateral Agent an acknowledgment of
the pledge of such Pledged Securities substantially in the form of Exhibit 1 annexed hereto, execute any customary pledge forms or other documents necessary or appropriate to complete the pledge and give the Collateral Agent the right to
transfer such Pledged Securities under the terms hereof and, provide to the Collateral Agent an Opinion of Counsel, in form and substance similar to that provided to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in
effect, reasonably satisfactory to the Collateral Agent), confirming such pledge and perfection thereof and (ii) if reasonably requested by the Collateral Agent and otherwise permitted under applicable law, cause such Pledged Securities to
become certificated and delivered to the Collateral Agent in accordance with the provisions of Section 3.1. 

  
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 SECTION 3.3 Financing Statements and Other Filings; Maintenance of Perfected Security
Interest. Each Pledgor represents and warrants that the only filings, registrations and recordings necessary to perfect the security interest granted by each Pledgor to the Collateral Agent in respect of the Pledged Collateral on the date hereof
are listed on Schedule 1 hereto. All such filings, registrations and recordings will be made no later than 10 days after the date of this Agreement in each applicable governmental, municipal or other office specified in Schedule 1
hereto and copies of the filings delivered promptly to the Collateral Agent. Each Pledgor agrees that at the sole cost and expense of the Pledgors, (i) such Pledgor will maintain the security interest created by this Agreement in the Pledged
Collateral as a valid, enforceable, perfected security interest subject to no Liens other than Permitted Liens and shall defend such security interest against the claims and demands of all persons, (ii) such Pledgor shall furnish to the
Collateral Agent from time to time statements and schedules further identifying and describing the Pledged Collateral and such other reports in connection with the Pledged Collateral as the Collateral Agent may reasonably request, all in reasonable
detail and (iii) at any time and from time to time, such Pledgor shall promptly and duly execute and deliver, and file and have recorded, such further instruments and documents and take such further action for the purpose of obtaining or
preserving the full benefits of this Agreement and the rights and powers herein granted, including (x) the filing of any financing statements, continuation statements and other documents (including this Agreement) under the UCC (or other
similar laws) in effect in any jurisdiction with respect to the security interest created hereby and (y) the execution and delivery of Control Agreements, all in form similar to that provided to the Senior Credit Facility Agent (or if the
Senior Credit Facility is no longer in effect, reasonably satisfactory to the Collateral Agent) and in such offices (including the United States Patent and Trademark Office and the United States Copyright Office) wherever required by applicable
Legal Requirements to perfect (to the extent a security interest in such Pledged Collateral may be so perfected under applicable Legal Requirements), continue and maintain a valid, enforceable, perfected security interest subject to no Liens other
than Permitted Liens in the Pledged Collateral as provided herein and to preserve the other rights and interests granted to the Collateral Agent hereunder, as against third parties, with respect to the Pledged Collateral. 

SECTION 3.4 Other Actions. In order to further ensure the attachment, perfection and priority of, and the ability of the
Collateral Agent to enforce, the Collateral Agent’s security interest in the Pledged Collateral, each Pledgor represents and warrants and covenants as follows, in each case at such Pledgor’s own expense, to take the following actions with
respect to the following Pledged Collateral: 
 (a) Instruments and Tangible Chattel Paper. As of the date hereof,
each Pledgor hereby represents and warrants that (i) no amounts individually or in the aggregate in excess of $3,000,000 payable under or in connection with any of the Pledged Collateral are evidenced by any Instrument or Tangible Chattel Paper
other than the Intercompany Note and the Instruments and Tangible Chattel Paper listed on Schedule 11 to the Perfection Certificate, (ii) the Intercompany Note has been properly assigned and delivered to the Collateral Agent, accompanied by an
endorsement to the Intercompany Note in the form attached thereto duly executed in blank by each Pledgor, and (iii) each such Instrument and each such item of Tangible Chattel Paper individually or in the aggregate in excess of $3,000,000 has
been properly endorsed, assigned and delivered to the Collateral Agent, accompanied by instruments of transfer or assignment duly executed in blank. If any amount, individually or in the aggregate, in excess of $3,000,000 then payable under or in
connection with any of the Pledged Collateral shall be evidenced by any Instrument or Tangible Chattel Paper, the Pledgor acquiring such Instrument or Tangible Chattel Paper shall promptly (and in any event within 10 days) endorse, assign and
deliver the same to the Collateral Agent, accompanied by such instruments of transfer or assignment duly executed in blank as the Collateral Agent may from time to time specify; provided, however, that so long as no Event of Default
has occurred and is continuing, upon written request by such Pledgor, the Collateral Agent shall 

  
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promptly (and in any event within 10 Business Days return such Instrument (other than the Intercompany Note) or Tangible Chattel Paper to such Pledgor from time to time, to the extent necessary
for collection in the ordinary course of such Pledgor’s business. 
 (b) Deposit Accounts. Each Pledgor hereby
represents and warrants that (i) as of the date hereof, each Pledgor does not maintain any Deposit Accounts in which the Pledgors maintain an average daily balance in excess of $1,000,000, individually or in the aggregate, other than the
accounts listed on Schedule 15(a) to the Perfection Certificate, (ii) as of the date hereof, each applicable Pledgor and the relevant Bank(s) have executed and delivered a Deposit Account Control Agreement with respect to each of the Deposit
Accounts (other than Excluded Accounts) listed on Schedule 15(a) to the Perfection Certificate or the Pledgors have closed such accounts, and (iii) upon the execution and delivery of such Deposit Account Control Agreements, the Collateral Agent
shall have a valid, enforceable, perfected security interest subject to no Liens other than Permitted Liens in such Deposit Accounts by Control. No Pledgor shall hereafter establish and maintain any Deposit Account (other than any Excluded Account)
in which the Pledgors customarily maintain an average daily balance in excess of $1,000,000, individually or in the aggregate, unless such Bank and such Pledgor shall have (or promptly thereafter, but in any event, within 30 days from such date or
such longer period as may be agreed to by the Collateral Agent in writing in its sole discretion) duly executed and delivered to the Collateral Agent a Deposit Account Control Agreement (or an amendment to an existing Deposit Account Control
Agreement) with respect to such Deposit Account. The Collateral Agent shall not give any instructions directing the disposition of funds from time to time credited to any Deposit Account or withhold any withdrawal rights from such Pledgor with
respect to funds from time to time credited to any Deposit Account unless an Event of Default has occurred and is continuing or, after giving effect to any withdrawal, would occur. The provisions of this Section 3.4(b) shall not apply to
any Deposit Accounts for which the Collateral Agent is the Bank. As of the date hereof and until the termination of this Agreement pursuant to Section 11.4, no Pledgor has granted or shall grant Control of any Deposit Account (including
any Excluded Account) to any person other than (i) the Collateral Agent or (ii) subject to the Intercreditor Agreement, the Senior Credit Facility Agent. 
 (c) Securities Accounts and Commodity Accounts. (i) Each Pledgor hereby represents and warrants that (1) as of the date hereof, it has neither opened nor maintains any Securities Accounts
or Commodity Accounts in which the amount and/or fair market value, individually or in the aggregate, of the financial assets and/or commodity contracts, as the case may be, held from time to time in all such accounts does not exceed $1,000,000,
other than those listed on Schedule 15(b) to the Perfection Certificate, (2) as of the date hereof, each applicable Pledgor and the relevant Securities Intermediary or Commodity Intermediary have executed and delivered a Securities Account
Control Agreement or Commodity Account Control Agreement, as applicable, for each Securities Account or Commodity Account (other than Excluded Accounts) listed on Schedule 15(b) to the Perfection Certificate, or the Pledgors have closed such
accounts, (3) upon the execution and delivery of such Securities Account Control Agreements or Commodity Account Control Agreements, the Collateral Agent shall have a valid, enforceable, perfected security interest subject to no Liens other
than Permitted Liens in such Securities Accounts and Commodity Accounts by Control, and (4) as of the date hereof, it does not hold, own or have any interest in any certificated securities or uncertificated securities other than those
constituting Pledged Securities and those maintained in Securities Accounts or Commodity Accounts listed on Schedule 15(b) to the Perfection Certificate or in respect of which the Collateral Agent has Control. If any Pledgor shall at any time hold
or acquire any certificated securities constituting Investment Property and having a fair market value, individually or in the aggregate, in excess of $1,000,000, such Pledgor shall promptly (and in any event within 10 Business Days of acquiring
such security) (a) endorse, assign and deliver the same to the Collateral Agent, accompanied by such instruments of transfer or assignment 

  
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duly executed in blank, all in form and substance similar to that provided to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, reasonably satisfactory to
the Collateral Agent) or (b) deliver such securities into a Securities Account (other than an Excluded Account) with respect to which a Control Agreement is in effect in favor of the Collateral Agent. If any securities now or hereafter acquired
by any Pledgor constituting Investment Property and having a fair market value, individually or in the aggregate, in excess of $1,000,000 are uncertificated and are issued to such Pledgor or its nominee directly by the issuer thereof, such Pledgor
shall promptly (and in any event within five Business Days of acquiring such security) notify the Collateral Agent thereof and pursuant to an agreement in form and substance similar to that provided to the Senior Credit Facility Agent (or if the
Senior Credit Facility is no longer in effect, reasonably satisfactory to the Collateral Agent), either (a) cause the issuer to agree to comply with Entitlement Orders or other instructions from the Collateral Agent as to such securities,
without further consent of any Pledgor or such nominee, (b) cause a Security Entitlement with respect to such uncertificated security to be held in a Securities Account (other than an Excluded Account) with respect to which the Collateral Agent
has Control or (c) arrange for the Collateral Agent to become the registered owner of the securities. The Pledgors shall not hereafter establish and maintain any Securities Account or Commodity Account with any Securities Intermediary or
Commodity Intermediary unless (other than an Excluded Account) such Securities Intermediary or Commodity Intermediary, as the case may be, and such Pledgor shall have (or, promptly thereafter, but in any event, within 30 days from such date or such
longer period as may be agreed by the Collateral Agent in writing in its sole discretion) duly executed and delivered a Control Agreement with respect to such Securities Account or Commodity Account, as the case may be. The Collateral Agent shall
not give any Entitlement Orders or instructions or directions to any issuer of uncertificated securities, Securities Intermediary or Commodity Intermediary, and shall not withhold its consent to the exercise of any withdrawal or dealing rights by
such Pledgor, unless an Event of Default has occurred and is continuing, or, after giving effect to any such investment and withdrawal rights, would occur. The provisions of this Section 3.4(c) shall not apply to any Financial Assets
credited to a Securities Account for which the Collateral Agent is the Securities Intermediary. No Pledgor shall grant Control over any Investment Property (including any Excluded Account) to any person other than (x) the Collateral Agent or
(y) subject to the Intercreditor Agreement, the Senior Credit Facility Agent. 
 (ii) As between the Collateral Agent and
the Pledgors, the Pledgors shall bear the investment risk with respect to the Investment Property and Pledged Securities, and the risk of loss of, damage to, or the destruction of the Investment Property and Pledged Securities, whether in the
possession of, or maintained as a security entitlement or deposit by, or subject to the control of, the Collateral Agent, a Securities Intermediary, Commodity Intermediary, any Pledgor or any other person; provided, however, that
nothing contained in this Section 3.4(c) shall release or relieve any Securities Intermediary or Commodity Intermediary of its duties and obligations to the Pledgors or any other person under any Control Agreement or under applicable
Legal Requirements. Each Pledgor shall promptly pay all Charges and fees of whatever kind or nature with respect to the Investment Property and Pledged Securities pledged by it under this Agreement. In the event any Pledgor shall fail to make such
payment contemplated in the immediately preceding sentence, the Collateral Agent may do so for the account of such Pledgor and the Pledgors shall promptly reimburse and indemnify the Collateral Agent from all costs and expenses incurred by the
Collateral Agent under this Section 3.4(c) in accordance with Section 9.3 of this Agreement. 
 (d)
Electronic Chattel Paper and Transferable Records. If any amount, individually or in the aggregate, in excess of $3,000,000 or payable under or in connection with any of the Pledged Collateral is evidenced by any Electronic Chattel Paper or
any “transferable record” (as that term is defined in Section 201 of the Federal Electronic Signatures in Global and National Commerce Act, or in Section 16 

  
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of the Uniform Electronic Transactions Act as in effect in any relevant jurisdiction), the Pledgor acquiring such Electronic Chattel Paper or transferable record shall promptly (and in any event
within 30 days of the acquisition thereof or such longer period as may be agreed to by the Collateral Agent in writing in its sole discretion) notify the Collateral Agent thereof and shall take such action to vest in the Collateral Agent control
under UCC Section 9-105 of such Electronic Chattel Paper or control under Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or, as the case may be, Section 16 of the Uniform Electronic Transactions
Act, as so in effect in such jurisdiction, of such transferable record. The Collateral Agent agrees with such Pledgor that the Collateral Agent will arrange, pursuant to procedures similar to those agreed with the Senior Credit Facility Agent (or if
the Senior Credit Facility is no longer in effect, reasonably satisfactory to the Collateral Agent) and so long as such procedures will not result in the Collateral Agent’s loss of control, for the Pledgor to make alterations to the Electronic
Chattel Paper or transferable record permitted under UCC Section 9-105 or, as the case may be, Section 201 of the Federal Electronic Signatures in Global and National Commerce Act or Section 16 of the Uniform Electronic Transactions
Act for a party in control to allow without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking into account any action by such Pledgor with respect to such Electronic Chattel Paper or transferable
record. 
 (e) Letter-of-Credit Rights. The parties acknowledge and agree that no Pledgor shall have any obligation
hereunder to take any perfection steps (other than filing of appropriate financing statements under the UCC) with respect to any security interest in any letter-of-credit under which any Pledgor is the beneficiary. 

(f) Commercial Tort Claims. As of the date hereof, each Pledgor hereby represents and warrants that it holds no Commercial Tort
Claims having a value reasonably believed by the Pledgors to be, individually or in the aggregate, in excess of $3,000,000, other than those listed on Schedule 14 to the Perfection Certificate. If any Pledgor shall at any time hold or acquire a
Commercial Tort Claim having a value reasonably believed by the Pledgors to be, individually or in the aggregate, in excess of $3,000,000, such Pledgor shall promptly (and in any event within 10 Business Days of acquiring such Commercial Tort Claim
or such longer period as may be agreed to by the Collateral Agent in writing in its sole discretion) notify the Collateral Agent in writing signed by such Pledgor of the brief details thereof and grant to the Collateral Agent in such writing a
security interest therein and in the Proceeds thereof, all upon the terms of this Agreement. Unless otherwise agreed, the grant of a security interest in any such Commercial Tort Claim shall not prejudice the right of such Pledgor to prosecute,
enforce or exercise any of its rights in connection with such Commercial Tort Claim, which it will continue to enjoy until an Event of Default has occurred and is continuing. 
 SECTION 3.5 Joinder of Additional Guarantors. The Pledgors shall cause each Subsidiary of the Issuer that, from time to time, after the date hereof shall be required to pledge any assets to the
Collateral Agent for the benefit of the Notes Secured Parties pursuant to the Indenture, to execute and deliver to the Collateral Agent (i) a Joinder Agreement within 30 days after the date on which it was acquired, created or otherwise becomes
required to pledge its assets to the Collateral Agent for the benefit of the Notes Secured Parties pursuant to the Indenture and (ii) a Perfection Certificate within 30 days after the date on which it was acquired, created or otherwise becomes
required to pledge its assets to the Collateral Agent for the benefit of the Notes Secured Parties pursuant to the Indenture and, in each case, upon such execution and delivery, such Subsidiary shall constitute a “Guarantor” and a
“Pledgor” for all purposes hereunder with the same force and effect as if originally named as a Guarantor and Pledgor herein. The execution and delivery of such Joinder Agreement shall not require the consent of any Pledgor hereunder. The
rights and obligations of each Pledgor hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor and Pledgor as a party to this Agreement or any other Indenture Document. 

  
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 SECTION 3.6 Supplements; Further Assurances. The Issuer shall furnish to the
Collateral Agent a Perfection Certificate Supplement at the same time it is provided to the Senior Credit Facility Agent. Each Pledgor shall take such further actions, and execute and deliver to the Collateral Agent such additional assignments,
agreements, supplements, powers and instruments, as the Collateral Agent may in its reasonable judgment deem necessary, wherever required by applicable Legal Requirements, in order to perfect, preserve and protect the security interest in the
Pledged Collateral as provided herein and the rights and interests granted to the Collateral Agent hereunder, to carry into effect the purposes hereof or better to assure and confirm unto the Collateral Agent the Pledged Collateral or permit the
Collateral Agent to exercise and enforce its rights, powers and remedies hereunder with respect to any Pledged Collateral. Without limiting the generality of the foregoing, each Pledgor shall make, execute, endorse, acknowledge, file or refile
and/or deliver to the Collateral Agent from time to time upon reasonable request such lists, descriptions and designations of the Pledged Collateral, copies of warehouse receipts, receipts in the nature of warehouse receipts, bills of lading,
documents of title, vouchers, invoices, schedules, confirmatory assignments, supplements, additional security agreements, conveyances, financing statements, transfer endorsements, powers of attorney, certificates, reports and other assurances or
instruments as the Collateral Agent shall reasonably request. If an Event of Default has occurred and is continuing, the Collateral Agent may institute and maintain, in its own name or in the name of any Pledgor, such suits and proceedings as the
Collateral Agent may be advised by counsel shall be necessary or expedient to prevent any impairment of the security interest in the Pledged Collateral or the perfection or priority thereof. All of the foregoing shall be at the sole cost and expense
of the Pledgors. 
 SECTION 3.7 Perfection in Non-U.S. Jurisdictions. Notwithstanding anything herein to the contrary or any
other Indenture Document, in the event that the cost to perfect in any jurisdiction outside of the United States outweighs the benefit to the Notes Secured Parties, the Pledgors shall not be required to make any filings or take any actions in such
jurisdiction for the purpose of perfecting a security interest in the Pledged Collateral, other than Control Agreements (or similar actions or filings similar to UCC filings) in respect of Deposit Accounts, Securities Accounts or Commodity Accounts
of the Pledgors located outside of the United States or any of its States or territories that are not Excluded Accounts in accordance with the terms of this Agreement; provided that, so long as the Senior Credit Facility is in effect, the Pledgors
shall only take such actions similar to those taken to perfect the security interest of the First Lien Secured Parties. 

SECTION 3.8 Intercreditor Agreement. At all times prior to the Discharge of the First Lien Obligations (as defined in the
Intercreditor Agreement), the Collateral Agent is authorized by the parties hereto to effect transfers of Collateral at any time in its possession (and any Control Agreements with respect to the Collateral) to the Senior Credit Facility Agent.
Notwithstanding anything to the contrary herein, any provision hereof that requires any Pledgor to (i) deliver any Collateral to Collateral Agent or (ii) provide that the Collateral Agent have control over such Collateral may be satisfied
by (A) the delivery of such Collateral by such Pledgor to the Senior Credit Facility Agent for the benefit of the First Lien Secured Parties and the Collateral Agent for the benefit of itself, the Trustee and the other Notes Secured Parties in
accordance with the Intercreditor Agreement and (B) providing the Senior Credit Facility Agent with Control with respect to such Collateral of such Pledgor for the benefit of the First Lien Secured Parties and the Collateral Agent for the
benefit of itself, the Trustee and the other Notes Secured Parties in accordance with the Intercreditor Agreement. 

  
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 ARTICLE IV 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 Each Pledgor represents, warrants and
covenants as follows (it being acknowledged and agreed that each reference in the representations and warranties of this Article IV to a Schedule to the Perfection Certificate shall be taken as a reference to such Schedule as amended or supplemented
from time to time): 
 SECTION 4.1 Title. Except for the security interest granted to the Collateral Agent for the
ratable benefit of the Notes Secured Parties pursuant to this Agreement and Permitted Liens, such Pledgor owns and, as to Pledged Collateral acquired by it from time to time after the date hereof, will own the rights in each item of Pledged
Collateral pledged by it hereunder free and clear of any and all Liens or claims of others. Such Pledgor has not filed, nor authorized any third party to file a financing statement or other public notice with respect to all or any part of the
Pledged Collateral on file or of record in any public office, except such as have been filed in favor of the Collateral Agent pursuant to this Agreement or as are permitted by the Indenture or financing statements or public notices relating to the
termination statements listed on Schedule 8(a) to the Perfection Certificate. No person other than the Collateral Agent has, or will have, control or possession of all or any part of the Pledged Collateral, except as expressly permitted by the
Indenture Documents. 
 SECTION 4.2 Validity of Security Interest. The security interest in and Lien on the Pledged
Collateral granted to the Collateral Agent for the ratable benefit of the Notes Secured Parties hereunder constitutes (a) a legal and valid security interest in all the Pledged Collateral securing the payment and performance of the Secured
Obligations, and (b) subject to the filings and other actions described in Schedule 1 hereto, a valid, enforceable, perfected security interest subject to no Liens other than Permitted Liens in all the Pledged Collateral, to the extent
that a security interest may be perfected by the filings and other actions described in Schedule 1 hereto or as otherwise required by this Agreement. The security interest and Lien granted to the Collateral Agent for the ratable benefit of the Notes
Secured Parties pursuant to this Agreement in and on the Pledged Collateral will at all times constitute a valid, enforceable, perfected, continuing security interest therein, subject to no Liens other than Permitted Liens, to the extent that a
security interest may be perfected by the filings and other actions described in Schedule 1 hereto or as otherwise required by this Agreement. 
 SECTION 4.3 Defense of Claims; Transferability of Pledged Collateral. Each Pledgor shall, at its own cost and expense, defend title to the Pledged Collateral pledged by it hereunder and the
security interest therein granted to the Collateral Agent and the priority thereof required hereunder against all claims and demands of all persons, at its own cost and expense, at any time claiming any interest therein adverse in any material
respect to the Collateral Agent or any other Notes Secured Party. Except for the terms of Contracts constituting Pledged Collateral that may limit their transferability (to the extent not rendered unenforceable under applicable Legal Requirements),
there is no agreement that restricts in any material respect the transferability of any of the Pledged Collateral or otherwise impairs or conflicts in any material respect with any Pledgor’s obligations or the rights of the Collateral Agent
hereunder, and the Pledgors shall not enter into any agreement or take any other action that would restrict in any material respect the transferability of any of the Pledged Collateral or otherwise impair or conflict in any material respect with any
Pledgor’s obligations or the rights of the Collateral Agent hereunder, in each case except as otherwise permitted by the Indenture Documents. 
 SECTION 4.4 Other Financing Statements. No Pledgor has filed, nor authorized any third party to file (nor will there be) any valid or effective financing statement (or similar statement or

  
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instrument of registration under the law of any jurisdiction) covering or purporting to cover any interest of any kind in the Pledged Collateral other than financing statements and other
statements and instruments relating to Permitted Liens. So long as any of the Secured Obligations remain unpaid and unperformed (other than any contingent indemnification obligations under the Indenture and the other Indenture Documents for which no
claim has been made), no Pledgor shall execute, authorize or permit to be filed in any public office any financing statement (or similar statement or instrument of registration under the law of any jurisdiction) relating to any Pledged Collateral,
except financing statements and other statements and instruments filed or to be filed in respect of and covering the security interests granted by such Pledgor to the holder(s) of Permitted Liens. 

SECTION 4.5 Chief Executive Office; Change of Name; Jurisdiction of Organization, etc. Such Pledgor shall, (i) unless it
shall have given the Collateral Agent not less than 15 days’ prior written notice, or such shorter period of notice as may be acceptable to the Collateral Agent in its sole discretion, not change its name, identity, legal structure (whether by
merger, consolidation, change in corporate form or otherwise), type of organization or jurisdiction of organization, place of business or, if more than one, chief executive office, or mailing address or organizational identification number if it has
one and (ii) consistent with the terms of this Agreement, take all actions reasonably necessary or advisable to maintain the continuous validity, perfection and the same or better priority of the Collateral Agent’s security interest in the
Pledged Collateral granted or intended to be granted hereunder, which in the case of any merger or other change in organizational structure shall include delivering a written notice upon completion of such merger or other change in organizational
structure confirming the grant of the security interest under this Agreement. If such Pledgor does not have an organizational identification number and later obtains one, such Pledgor shall forthwith notify the Collateral Agent of such
organizational identification number. The Collateral Agent may rely on Opinions of Counsel as to whether any or all UCC financing statements of the Pledgors need to be amended as a result of any of the changes described in this Section. The
Collateral Agent shall not be liable or responsible to any party for any failure to maintain a valid, enforceable, perfected security interest with the priority required hereunder in such Pledgor’s property constituting Pledged Collateral. The
Collateral Agent shall have no duty to inquire about such changes, the parties acknowledging and agreeing that it would not be feasible or practical for the Collateral Agent to search for information on such changes if such information is not
provided by any Pledgor. 
 SECTION 4.6 Location of Inventory and Equipment. As of the date hereof, all Equipment and
Inventory (other than Equipment and Inventory out for repair, in transit, at other locations in connection with repair or refurbishment thereof in the ordinary course of business, in the possession of employees of the Pledgors in the ordinary course
of business or having a fair market value in the aggregate of less than $3,000,000) of such Pledgor is located at the chief executive office or such other location listed on Schedules 2(c) and (d) to the Perfection Certificate. Such Pledgor
shall not move any Equipment or Inventory having a fair market value in the aggregate of $3,000,000 or more (other than Equipment and Inventory out for repair, in transit, at other locations in connection with repair or refurbishment thereof in the
ordinary course of business or in the possession of employees of the Pledgors in the ordinary course of business) to any location other than one that is listed in Schedules 2(c) and (d) to the Perfection Certificate until (i) it shall have
given the Collateral Agent not less than 10 days’ prior written notice, or such shorter period of notice as may be acceptable to the Collateral Agent in its sole discretion, of its intention so to do, clearly describing such new location and
providing such other information in connection therewith as shall be provided to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, as may be reasonably requested by the Collateral Agent) and (ii) with
respect to such new location, such Pledgor shall have taken all action necessary to maintain the perfection and priority of the security interest of the Collateral Agent in the Pledged Collateral intended to

  
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be granted hereby, including obtaining waivers of landlord’s or warehousemen’s and/or bailee’s liens with respect to such new location, if applicable, to the extent obtained for
the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, as may be reasonably requested by the Collateral Agent). Such Pledgor agrees to provide the Collateral Agent with prompt notice following the movement of any
Equipment or Inventory having a fair market value in the aggregate of $3,000,000 or more (other than Equipment and Inventory out for repair, in transit, at other locations in connection with repair or refurbishment thereof in the ordinary course of
business or in the possession of employees of the Pledgors in the ordinary course of business) to any location other than one that is listed in Schedules 2(c) and (d) to the Perfection Certificate. 

SECTION 4.7 Corporate Names; Prior Transactions. Except as set forth in Schedules 1(a) and (b) to the Perfection Certificate,
such Pledgor has not, during the past five years, been known by or used any other corporate or fictitious name or been a party to any merger or consolidation, or acquired all or substantially all of the assets of any person, or acquired any of its
property or assets out of the ordinary course of business. 
 SECTION 4.8 Due Authorization and Issuance. All of the
Initial Pledged Shares have been, and to the extent any Pledged Shares are hereafter issued, such Pledged Shares will be, upon such issuance, duly authorized, validly issued and fully paid and non-assessable. All of the Initial Pledged Interests
have been fully paid for, and there is no amount or other obligation owing by any Pledgor to any issuer of the Initial Pledged Interests in exchange for or in connection with the issuance of the Initial Pledged Interests or any Pledgor’s status
as a partner or a member of any issuer of the Initial Pledged Interests. 
 SECTION 4.9 Consents, etc. 

Other than as set forth in Section 11.16, except (i) for the terms of Contracts constituting Pledged Collateral that may require
consent, (ii) for the terms of Organizational Documents of any Person that is not a Wholly Owned Subsidiary and (iii) as permitted by the Indenture Documents, no consent of any party (including equityholders or creditors of such Pledgor)
and no consent, authorization, approval, license or other action by, and no notice to or filing with, any Governmental Authority or regulatory body or other person is required for the exercise by the Collateral Agent of (i) the voting or other
rights provided for in this Agreement or (ii) the remedies in respect of the Pledged Collateral, except (A) as may be required in connection with such disposition of Investment Property, Pledged Interests, Pledged Shares or Pledged
Securities by laws affecting the offering and sale of securities generally and (B) consents and approvals already obtained as of the date hereof. In the event that the Collateral Agent desires to exercise any remedies, voting or consensual
rights or attorney-in-fact powers set forth in this Agreement and determines it necessary to obtain any approvals or consents of any Governmental Authority or regulatory body or any other person therefor, then, upon the reasonable request of the
Collateral Agent, each Pledgor agrees to use its commercially reasonable efforts to assist and aid the Collateral Agent to obtain as soon as practicable any necessary approvals or consents for the exercise of any such remedies, rights and powers.

 SECTION 4.10 Pledged Collateral. All information set forth herein, including the schedules annexed hereto, and all
information contained in any documents, schedules and lists heretofore delivered to any Notes Secured Party, including the Perfection Certificate and the schedules thereto, in connection with this Agreement, in each case, relating to the Pledged
Collateral, is accurate and complete in all material respects. 

  
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 SECTION 4.11 Insurance. 

Each insurance policy shall be endorsed or otherwise amended to include a “standard” or “New York” lender’s loss
payable or mortgagee endorsement (as applicable) and shall name the Collateral Agent, on behalf of the Notes Secured Parties, as an additional insured and shall provide for not less than 30 days (10 days in the case of non-payment of premium) prior
written notice to the Collateral Agent of the exercise of any right of cancellation. If any Pledgor fails to maintain insurance in accordance with this Section or the Indenture, the Collateral Agent may (but shall not be obligated to) arrange
for such insurance, but at the Pledgors’ expense and without any responsibility on the Collateral Agent’s part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of claims.
Upon the occurrence and during the continuance of an Event of Default, the Collateral Agent, by notice to the Issuer (unless an Event of Default under clause (10) or (11) of Section 6.01 of the Indenture then exists, in which
case no such notice shall be required), shall have the sole right to file claims under any insurance policies, to receive, receipt and give acquittance for any payments that may be payable thereunder, and to execute any and all endorsements,
receipts, releases, assignments, reassignments or other documents that may be necessary to effect the collection, compromise or settlement of any claims under any such insurance policies. In the event that the proceeds of any insurance claim are
paid after the Collateral Agent has exercised its right to foreclose after an Event of Default, such net cash proceeds shall be paid to the Collateral Agent to satisfy any deficiency remaining after such foreclosure. The Collateral Agent shall
retain its interest in the insurance policies and coverages required to be maintained pursuant to the Indenture Documents during any redemption period. 
 SECTION 4.12 Payment of Taxes; Compliance with Legal Requirements; Contesting Liens; Charges. Each Pledgor may at its own expense contest the validity, amount or applicability of any Charges so
long as the contest thereof shall be conducted in accordance with, and permitted pursuant to the provisions of, the Indenture. Notwithstanding the foregoing sentence, (i) no contest of any such obligation may be pursued by such Pledgor if such
contest would expose the Collateral Agent or any other Notes Secured Party to (A) any possible criminal liability or (B) any civil liability for failure to comply with such obligations unless such Pledgor shall have furnished a bond or
other security therefor satisfactory to the Collateral Agent, or such Notes Secured Party, as the case may be, and (ii) if at any time payment or performance of any obligation contested by such Pledgor pursuant to this Section 4.12
shall become necessary to prevent the imposition of remedies because of non-payment, such Pledgor shall pay or perform the same in sufficient time to prevent the imposition of remedies in respect of such default or prospective default. 

SECTION 4.13 Other Information. Each Pledgor shall, at any and all times, within a reasonable time after written request by the
Collateral Agent, furnish or cause to be furnished to the Collateral Agent, in such manner and in such detail as may be reasonably requested by the Collateral Agent, additional information with respect to the Pledged Collateral. 

ARTICLE V 

CERTAIN PROVISIONS CONCERNING SECURITIES COLLATERAL 
 SECTION 5.1 Pledge of Additional Securities Collateral. Each Pledgor shall, upon obtaining any Pledged Securities, Intercompany Notes, or other promissory notes of any person in a principal amount
greater than $1,000,000 (other than Excluded Property), accept the same in trust for the benefit of the Collateral Agent and promptly (and in any event within 10 Business Days thereafter) deliver to the Collateral Agent a Securities Pledge
Amendment, duly executed by such Pledgor, and the certificates and other documents required under Section 3.1 and Section 3.2 in respect of the additional Pledged Securities, Intercompany Notes or other promissory notes that
are to be pledged pursuant to this 

  
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Agreement, and confirming the attachment of the Lien hereby created on and in respect of such additional Pledged Securities, Intercompany Notes or other promissory notes. Each Pledgor hereby
authorizes the Collateral Agent to attach each Securities Pledge Amendment to this Agreement and agrees that all Pledged Securities, Intercompany Notes or other promissory notes listed on any Securities Pledge Amendment delivered to the Collateral
Agent shall for all purposes hereunder be considered Pledged Collateral. 
 SECTION 5.2 Voting Rights; Distributions;
etc. 
 (a) So long as no Event of Default shall have occurred and be continuing: 

(i) each Pledgor shall be entitled to exercise any and all voting and other consensual rights and to give consents, waivers or
ratifications pertaining to the Securities Collateral or any part thereof; provided, however, that in each case, no vote shall be cast or any consent, waiver or ratification given or any action taken or omitted to be taken which would
violate, result in a breach of any covenant contained in any Indenture Document, or which would reasonably be expected to have the effect of impairing the value of the Collateral or any material portion thereof or the position or interests of the
Pledgee or any other Notes Secured Party in the Collateral, unless expressly permitted by the terms of the Indenture Documents. 

(ii) each Pledgor shall be entitled to receive and retain, and to utilize free and clear of the Lien hereof, any and all Distributions,
but only if and to the extent made in accordance with the provisions of the Indenture; provided, however, that any and all such Distributions consisting of rights or interests in the form of Pledged Securities or Intercompany Notes
(other than Excluded Property) shall promptly (and in any event within 10 Business Days after receipt thereof or such longer period as may be agreed to by the Collateral Agent in writing in its sole discretion) be delivered to the Collateral Agent
to hold as Pledged Collateral and shall, if received by any Pledgor, be received in trust for the benefit of the Collateral Agent, be segregated from the other property or funds of such Pledgor and be forthwith delivered to the Collateral Agent as
Pledged Collateral in the same form as so received (with any necessary or reasonably requested endorsement). 
 (iii) Upon the
occurrence and during the continuance of any Event of Default: 
 (A) all rights of each Pledgor to exercise
the voting and other consensual rights it would otherwise be entitled to exercise pursuant to Section 5.2(i)(A) shall cease, and all such rights shall thereupon become vested in the Collateral Agent, which shall thereupon have the sole
right to exercise such voting and other consensual rights until the applicable Event of Default is no longer continuing, in which case the Collateral Agent’s rights under this Section 5.2(ii)(A) shall cease to be effective, subject
to re-vesting in the event of a subsequent Event of Default that is continuing; and 
 (B) all rights of
each Pledgor to receive Distributions that it would otherwise be authorized to receive and retain pursuant to Section 5.2(i)(B) without further action shall cease and all such rights shall thereupon become vested in the Collateral Agent,
which shall thereupon have the sole right to receive and hold as Pledged Collateral such Distributions until the applicable Event of Default is no longer continuing, in which case the Collateral Agent’s rights under this
Section 5.2(ii)(B) shall cease to be effective, subject to revesting in the event of a subsequent Event of Default that is continuing. 

  
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 (iv) Each Pledgor shall, at its sole cost and expense, from time to time execute and deliver
to the Collateral Agent appropriate instruments in the form provided to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, as the Collateral Agent may reasonably request) in order to permit the Collateral
Agent to exercise the voting and other rights which it may be entitled to exercise pursuant to Section 5.2(ii)(A) and to receive all Distributions which it may be entitled to receive under Section 5.2(ii)(B). 

(v) All Distributions that are received by any Pledgor contrary to the provisions of Section 5.2(ii)(B) shall be received in
trust for the benefit of the Collateral Agent, shall be segregated from the other funds of such Pledgor and shall immediately be paid over to the Collateral Agent as Pledged Collateral in the same form as so received (with any necessary or
reasonably requested endorsement). 
 SECTION 5.3 Organizational Documents. As of the date hereof, each Pledgor has
delivered to the Collateral Agent true, correct, and complete copies of the Organizational Documents of such Pledgor. As of the date hereof, the Organizational Documents of the Pledgors are in full force and effect, have not as of the date hereof
been amended or modified except as disclosed in writing to the Collateral Agent. No Pledgor will terminate or agree to terminate any Organizational Documents or make any amendment or modification to any Organizational Documents other than as
permitted by the Indenture. 
 SECTION 5.4 Certain Agreements of Pledgors as Issuers and Holders of Equity Interests.

 (a) In the case of each Pledgor that is an issuer of Securities Collateral, such Pledgor agrees to be bound by the terms
of this Agreement relating to the Securities Collateral issued by it and will comply with such terms insofar as such terms are applicable to it. 
 (b) In the case of each Pledgor that is a partner, member or holder of any Equity Interests in a partnership, limited liability company or other entity, such Pledgor hereby consents to the extent required
by the applicable Organizational Documents of such Pledgor to the pledge by each other Pledgor, pursuant to the terms hereof, of the Pledged Interests (other than Excluded Property) in such partnership, limited liability company or other entity and,
upon the occurrence and during the continuance of an Event of Default, to the transfer of such Pledged Interests to the Collateral Agent or its nominee and to the substitution of the Collateral Agent or its nominee as a substituted partner, member
or holder of Equity Interests in such partnership, limited liability company or other entity with all the rights, powers and duties of a general partner, a limited partner, member or holder of Equity Interests, as the case may be. 

ARTICLE VI 

CERTAIN PROVISIONS CONCERNING INTELLECTUAL 
 PROPERTY COLLATERAL 
 SECTION 6.1 Registration. Each Pledgor represents and
warrants that (i) the Intellectual Property set forth on Schedule 13(a) to the Perfection Certificate constitutes all of the registrations or applications for registration of Intellectual Property owned by any Pledgor as of the date hereof,
(ii) except as set forth on Schedule 13(a) to the Perfection Certificate, it is the true, lawful and exclusive owner of all registrations and applications for registration of Intellectual Property listed on Schedule 13(a) to the Perfection
Certificate, (iii) all registrations listed on Schedule 13(a) to the Perfection Certificate are in full force and effect, and to each Pledgor’s knowledge, valid (iv) except as set forth on Schedule 13(a) to the Perfection Certificate
and non-exclusive licenses entered in the ordinary course of business, no Pledgor has granted any third party license rights to any Intellectual Property Collateral. 

  
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 SECTION 6.2 No Violations or Proceedings. Each Pledgor warrants that, except as could
not reasonably be expected to have a Material Adverse Effect, since December 31, 2012, it has not received any third party claim that remains unresolved, and no claim is pending, that alleges any aspect of such Pledgor’s business
operations may infringe, violate, misuse, dilute, or misappropriate any Intellectual Property right of any other Person. Each Pledgor represents and warrants that except as set forth on Schedule 13(a) to the Perfection Certificate or as could not
reasonably be expected to have a Material Adverse Effect, (a) the Intellectual Property set forth on Schedule 13(a) to the Perfection Certificate has not been canceled, (b) such Pledgor is not aware of any third-party claim challenging the
validity of, or Pledgor’s rights to, such registrations and applications (other than matters arising in connection with the application process raised solely by the United States Patent and Trademark Office or any foreign equivalent thereof
(including, without limitation, office actions)), and (c) no Pledgor is aware of any basis for such claims or any reason that any of said applications will not mature into registrations (other than matters arising in connection with the
application process (including without limitation, office actions)). 
 SECTION 6.3 Maintenance of Registration. Each
Pledgor shall, at its own expense, diligently process all documents reasonably required to maintain all registrations and applications for registration of its material Intellectual Property, including but not limited to (i) the prompt filing of
affidavits of use and applications for renewals of registration in the United States Patent and Trademark Office for all of its material registered Trademarks, (ii) the timely payment of all fees and disbursements in connection therewith as
well as any post-issuance fees due in connection with material Patents, and (iii) refraining from the abandonment of any filing of affidavit of use or any application of renewal prior to the exhaustion of all administrative and judicial
remedies without prior written consent of the Collateral Agent (other than with respect to registrations and applications deemed by such Pledgor in its reasonable business judgment to be no longer prudent to pursue). At its own expense, each Pledgor
shall diligently prosecute all applications for registrations of material Intellectual Property listed on Schedule 13(a) to the Perfection Certificate, in each case for such Pledgor and shall not abandon any such application prior to exhaustion of
all administrative and judicial remedies, absent written consent of the Collateral Agent except as otherwise permitted in this Section 6.3. 
 SECTION 6.4 Licenses and Assignments. Except as otherwise permitted by the Indenture, each Pledgor hereby agrees not to divest itself of any Intellectual Property or allow any material License to
terminate or lapse prior to its scheduled expiration absent prior written approval of the Collateral Agent. 
 SECTION 6.5
Protection of Collateral Agent’s Security. On a continuing basis, each Pledgor shall, at its sole cost and expense, (i) promptly following its becoming aware thereof, notify the Collateral Agent of (A) any materially adverse
determination in any proceeding in the United States Patent and Trademark Office or the United States Copyright Office with respect to any material Patent, Trademark or Copyright other than matters in any office actions or otherwise in the
application process or (B) the institution of any proceeding or any adverse determination in any federal, state, local or foreign court or administrative body regarding such Pledgor’s claim of ownership in or right to use any of the
Intellectual Property Collateral material to the use and operation of the Pledged Collateral or any Mortgaged Property, its right to register such Intellectual Property Collateral or its right to keep and maintain such registration in full force and
effect, (ii) during the continuance of an Event of Default, within five Business Days after written notice from the Collateral Agent, use commercially reasonable 

  
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efforts to make available to the Collateral Agent, to the extent within such Pledgor’s power and authority, such personnel in such Pledgor’s employ on the date of such Event of Default
as the Collateral Agent may reasonably designate, by name, title or job responsibility, to permit such Pledgor to continue, directly or indirectly, to produce, advertise and sell the products and services sold or delivered by such Pledgor under or
in connection with the Intellectual Property Collateral, such persons to be available to perform their prior functions on the Collateral Agent’s behalf, (iii) not settle or compromise any pending or future litigation or administrative
proceeding with respect to such Intellectual Property Collateral without the prior written consent of the Collateral Agent, subject to such Pledgor’s right to abandon Intellectual Property pursuant to Section 6.3 (iv) upon such
Pledgor obtaining knowledge thereof, promptly notify the Collateral Agent in writing of any event that may be reasonably expected to materially and adversely affect the value or utility of the Intellectual Property Collateral or any portion thereof
material to the use and operation of the Pledged Collateral or any Mortgaged Property, the ability of such Pledgor or the Collateral Agent to dispose of such Intellectual Property Collateral or any portion thereof or the rights and remedies of the
Collateral Agent in relation thereto including a levy or written threat of levy or any legal process against such Intellectual Property Collateral owned by such Pledgor or any portion thereof, (v) not license the Intellectual Property
Collateral other than non-exclusive licenses entered into by such Pledgor in, or incidental to, the ordinary course of business, or amend or permit the amendment of any of the licenses in a manner that materially and adversely affects the right to
receive payments thereunder, or in any manner that would materially impair the value of the Intellectual Property Collateral or the Lien on and security interest in the Intellectual Property Collateral intended to be granted to the Collateral Agent
for the ratable benefit of the Notes Secured Parties, without the consent of the Collateral Agent, (vi) diligently keep adequate records respecting the Pledgor’s ownership rights in the Intellectual Property Collateral and
(vii) furnish to the Collateral Agent from time to time upon the Collateral Agent’s reasonable request therefor reasonably detailed statements and amended schedules further identifying and describing the Intellectual Property Collateral
and such other materials evidencing or reports pertaining to the Pledgor’s ownership rights in the Intellectual Property Collateral as the Collateral Agent may from time to time reasonably request. 

SECTION 6.6 After-Acquired Property. If any Pledgor shall, at any time before the Secured Obligations have been paid and performed
in full (other than contingent indemnification obligations that, pursuant to the provisions of the Indenture or the Collateral Documents, survive the termination thereof), (i) obtain any rights to any additional Intellectual Property Collateral
or (ii) become entitled to the benefit of any additional Intellectual Property Collateral or any renewal or extension thereof, including any reissue, division, continuation, or continuation-in-part of any Intellectual Property Collateral, any
filing of a statement of use for any Trademark application, or any improvement on any Intellectual Property Collateral, in each case that constitutes Pledged Collateral, the provisions hereof shall automatically apply thereto and any such item
enumerated in clause (i) or (ii) of this sentence with respect to such Pledgor shall automatically constitute Intellectual Property Collateral if such would have constituted Intellectual Property Collateral at the time of execution hereof
and be subject to the Lien and security interest created by this Agreement without further action by any party (excluding any Intellectual Property Collateral that constitutes Excluded Property). Each Pledgor shall, at the same time it provides
written notice to the Senior Credit Facility Agent of any of the foregoing (or if the Senior Credit Facility is no longer in effect, at the time the Issuer provides an annual Opinion of Counsel pursuant to Section 10.02(b) of the Indenture ),
(i) provide the same written notice to the Collateral Agent and (ii) confirm the attachment of the Lien and security interest created by this Agreement to any rights described in clauses (i) and (ii) of the immediately preceding
sentence of this Section 6.6 by execution of an instrument in form similar to that provided to the Senior Credit Facility Agent (or if the Senior Credit Facility is no longer in effect, reasonably acceptable to the Collateral Agent) and
the filing of any instruments or statements as shall be reasonably necessary to preserve, protect or perfect the Collateral 

  
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Agent’s security interest in such Intellectual Property Collateral to the extent such Intellectual Property Collateral may be perfected under applicable Legal Requirements. Further, each
Pledgor agrees that this Agreement may be amended by amending Schedule 13(a) to the Perfection Certificate to include any Intellectual Property Collateral acquired or arising after the date of this Agreement by such Pledgor that constitutes Pledged
Collateral. 
 SECTION 6.7 Litigation. Unless there shall occur and be continuing any Event of Default, each Pledgor
shall have the right to commence and prosecute in its own name, as the party in interest, for its own benefit and at the sole cost and expense of the Pledgors, such applications for protection of the Intellectual Property Collateral and suits,
proceedings or other actions to prevent the infringement, counterfeiting, unfair competition, dilution, diminution in value or other damage as such Pledgor reasonably deems necessary to protect the Intellectual Property Collateral. Upon the
occurrence and during the continuance of any Event of Default, the Collateral Agent shall also have the right but shall in no way be obligated to file applications for protection of the Intellectual Property Collateral and/or bring suit in the name
of any Pledgor, the Collateral Agent or the Notes Secured Parties to enforce the Intellectual Property Collateral and any license thereunder, as permitted by law. In the event of such suit, each Pledgor shall, at the reasonable request of the
Collateral Agent, do any and all lawful acts and execute any and all documents reasonably requested by the Collateral Agent in aid of such enforcement and the Pledgors shall promptly reimburse and indemnify the Collateral Agent for all costs and
expenses reasonably incurred by the Collateral Agent in the exercise of its rights under this Section 6.7. In the event that the Collateral Agent shall elect not to bring such suit to enforce the Intellectual Property Collateral, each
Pledgor agrees, at the reasonable request of the Collateral Agent, to take all actions reasonably necessary, whether by suit, proceeding or other action, to prevent the infringement, counterfeiting, unfair competition, dilution, diminution in value
of or other damage to any of the Intellectual Property Collateral by others and for that purpose agrees to diligently maintain any suit, proceeding or other action against any person so infringing reasonably necessary to prevent such infringement.

 ARTICLE VII 
 CERTAIN PROVISIONS CONCERNING ACCOUNTS 
 SECTION 7.1 Special Representation and
Warranties. As of the time when each of its Accounts arises, each Pledgor shall be deemed to have represented and warranted that such Account and all records, papers and documents relating thereto (i) are genuine and correct and in all
material respects what they purport to be, (ii) to the Pledgor’s knowledge, represent the legal, valid and binding obligation of the account debtor, except as such enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally or by equitable principles relating to enforceability, evidencing indebtedness unpaid and owed by such account debtor, arising out of the performance of labor or
services or the sale, lease, license, assignment or other disposition and delivery of the goods or other property listed therein or out of an advance or a loan, (iii) will, in the case of an Account, except for the original or duplicate
original invoice sent to purchase evidencing such purchaser’s account, be the only original writing evidencing and embodying such obligation of the account debtor named therein and (iv) are in all material respects in compliance and
conform with all applicable Legal Requirements. 
 SECTION 7.2 Maintenance of Records. Each Pledgor shall keep and
maintain at its own cost and expense complete records of each Account, in a manner consistent with prudent business practice, including records of all payments received, all credits granted thereon, all merchandise returned

  
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and all other documentation relating thereto. Each Pledgor shall, at such Pledgor’s sole cost and expense, upon the Collateral Agent’s demand made at any time after the occurrence and
during the continuance of any Event of Default, deliver all tangible evidence of Accounts, including all documents evidencing Accounts and any books and records relating thereto to the Collateral Agent or to its representatives (copies of which
evidence and books and records may be retained by such Pledgor). Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent may transfer a full and complete copy of any Pledgor’s books, records, credit
information, reports, memoranda and all other writings relating to the Accounts to and for the use by any person that has acquired or is contemplating acquisition of an interest in the Accounts or the Collateral Agent’s security interest
therein without the consent of any Pledgor. 
 SECTION 7.3 Legend. At any time after the occurrence and during the
continuance of any Event of Default if similar legending is being performed for the Senior Credit Facility, each Pledgor shall legend the Accounts and the other books, records and documents of such Pledgor evidencing or pertaining to the Accounts
with an appropriate reference to the fact that the Accounts have been assigned to the Collateral Agent for the ratable benefit of the Notes Secured Parties and that the Collateral Agent has a security interest therein. 

SECTION 7.4 Modification of Terms, etc. No Pledgor shall rescind or cancel any obligations evidenced by any Account or modify any
term thereof or make any adjustment with respect thereto except in the ordinary course of business, or extend or renew any such obligations except in the ordinary course of business or otherwise in a manner consistent with its reasonable business
judgment, or compromise or settle any dispute, claim, suit or legal proceeding relating thereto or sell any Account or interest therein except in the ordinary course of business without the prior written consent of the Collateral Agent. Each Pledgor
shall timely fulfill all obligations on its part to be fulfilled under or in connection with the Accounts. 
 SECTION 7.5
Collection. Each Pledgor shall use commercially reasonable efforts to cause to be collected from the account debtor of each of the Accounts, as and when due in the ordinary course of business and consistent with prudent business practice
(including Accounts that are delinquent, such Accounts to be collected in accordance with generally accepted commercial collection procedures), any and all amounts owing under or on account of such Account, and apply forthwith upon receipt thereof
all such amounts as are so collected to the outstanding balance of such Account, except that any Pledgor may, with respect to an Account, allow in the ordinary course of business (i) a refund or credit due as a result of returned or damaged or
defective merchandise and (ii) such extensions of time to pay amounts due in respect of Accounts and such other modifications of payment terms or settlements in respect of Accounts as shall be commercially reasonable in the circumstances, all
in accordance with such Pledgor’s ordinary course of business consistent with its collection practices as in effect from time to time. The costs and expenses (including attorneys’ fees) of collection, in any case, whether incurred by any
Pledgor, the Collateral Agent or any Notes Secured Party, shall be paid by the Pledgors. 
 ARTICLE VIII 

REMEDIES 

SECTION 8.1 Remedies. Upon the occurrence and during the continuance of any Event of Default, the Collateral Agent may from time
to time exercise in respect of the Pledged Collateral, in addition to the other rights and remedies provided for herein or otherwise available to it under the other 

  
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Indenture Documents, applicable law or otherwise, the following remedies, in each case, to the fullest extent permitted by applicable law; provided that prior to exercising any right or
remedy in respect of any Pledged Shares of any Regulated Subsidiary, the Collateral Agent shall use commercially reasonable efforts to provide any and all notices to, and/or obtain consents from, applicable Governmental Authorities to the extent
necessary or required under applicable Legal Requirements for purposes of exercising its remedies with respect to Pledged Shares of any direct or indirect parent of any Regulated Subsidiary; provided, further, that each Pledgor shall
use its best efforts to assist the Collateral Agent in preparing or obtaining any such necessary or required notices, approvals or consents: 
 (a) Personally, or by agents or attorneys, immediately take possession of the Pledged Collateral or any part thereof, from any Pledgor or any other person who then has possession of any part thereof
with or without notice or process of law, and for that purpose may enter upon any Pledgor’s premises where any of the Pledged Collateral is located, remove such Pledged Collateral, remain present at such premises to receive copies of all
communications and remittances relating to the Pledged Collateral and use in connection with such removal and possession any and all services, supplies, aids and other facilities of any Pledgor; 

(b) Demand, sue for, collect or receive any money or property at any time payable or receivable in respect of the Pledged Collateral
including instructing the obligor or obligors on any agreement, instrument or other obligation constituting part of the Pledged Collateral to make any payment required by the terms of such agreement, instrument or other obligation directly to the
Collateral Agent, and in connection with any of the foregoing, compromise, settle, extend the time for payment and make other modifications with respect thereto; provided, however, that in the event that any such payments are made
directly to any Pledgor, such Pledgor shall segregate all amounts received pursuant thereto in trust for the benefit of the Collateral Agent and shall promptly (but in no event later than two Business Days after receipt thereof) pay such amounts to
the Collateral Agent; 
 (c) Sell, assign, grant a license to use or otherwise liquidate, or direct any Pledgor to sell,
assign, grant a license to use or otherwise liquidate, any and all investments made in whole or in part with the Pledged Collateral or any part thereof, and take possession of the proceeds of any such sale, assignment, license or liquidation;

 (d) Take possession of the Pledged Collateral or any part thereof, by directing any Pledgor in writing to deliver the
same to the Collateral Agent at any place or places so designated by the Collateral Agent, in which event such Pledgor shall at its own expense: (A) forthwith cause the same to be moved to the place or places designated by the Collateral Agent
and therewith delivered to the Collateral Agent, (B) store and keep any Pledged Collateral so delivered to the Collateral Agent at such place or places pending further action by the Collateral Agent and (C) while the Pledged Collateral
shall be so stored and kept, provide such security and maintenance services as shall be necessary to protect the same and to preserve and maintain them in good condition. Each Pledgor’s obligation to deliver the Pledged Collateral as
contemplated in this Section 8.1(iv) is of the essence hereof. Upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to decree requiring specific performance by any Pledgor of such obligation;

 (e) Withdraw all moneys, instruments, securities and other property in any bank, financial securities, deposit or other
account of any Pledgor constituting Pledged Collateral; 
 (f) Retain and apply the Distributions to the Secured
Obligations as provided in Article X hereof; 

  
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 (g) Exercise any and all rights as beneficial and legal owner of the Pledged Collateral,
including perfecting assignment of and exercising any and all voting, consensual and other rights and powers with respect to any Pledged Collateral; and 
 (h) Exercise all the rights and remedies of a secured party on default under the UCC (whether or not the UCC applies to the affected Pledged Collateral), and the Collateral Agent may also in its sole
discretion, without notice except as specified in Section 8.2, sell, assign, transfer or grant a license to use the Pledged Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s
board or at any of the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, and at such price or prices and upon such other terms as the Collateral Agent may deem commercially reasonable. The Collateral Agent or
any other Notes Secured Party or any of their respective Affiliates may be the purchaser, licensee, assignee or recipient of any or all of the Pledged Collateral at any such sale and shall be entitled, for the purpose of bidding and making
settlement or payment of the purchase price for all or any portion of the Pledged Collateral sold, assigned or licensed at such sale, to use and apply any of the Secured Obligations owed to such person as a credit on account of the purchase price of
any Pledged Collateral payable by such person at such sale. Each purchaser, assignee, licensee or recipient at any such sale shall acquire the property sold, assigned or licensed absolutely free from any claim or right on the part of any Pledgor,
and each Pledgor hereby waives, to the fullest extent permitted by applicable Legal Requirements, all rights of redemption, stay and/or appraisal that it now has or may at any time in the future have under any Legal Requirement now existing or
hereafter enacted. The Collateral Agent shall not be obligated to make any sale of Pledged Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at
the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Pledgor hereby waives, to the fullest extent permitted by applicable Legal Requirements, any claims
against the Collateral Agent arising by reason of the fact that the price at which any Pledged Collateral may have been sold, assigned or licensed at such a private sale was less than the price which might have been obtained at a public sale, even
if the Collateral Agent accepts the first offer received and does not offer such Pledged Collateral to more than one offeree. 

SECTION 8.2 Notice of Sale. Each Pledgor acknowledges and agrees that, to the extent notice of sale or other disposition of
Pledged Collateral shall be required by any Legal Requirement, 10 days prior notice to such Pledgor of the time and place of any public sale or of the time after which any private sale or other intended disposition is to take place shall be
commercially reasonable notification of such matters unless the Pledged Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market (in which case no such prior notice shall be
required). No notification need be given to any Pledgor if it has signed, after the occurrence of an Event of Default, a statement renouncing or modifying any right to notification of sale or other intended disposition. 

SECTION 8.3 Waiver of Notice and Claims; Other Waivers; Marshalling. 

(a) Each Pledgor hereby waives, to the fullest extent permitted by applicable Legal Requirements, notice of judicial hearing in
connection with the Collateral Agent’s taking possession or the Collateral Agent’s disposition of any of the Pledged Collateral, including any and all prior notice and hearing for any prejudgment remedy or remedies and any such right which
such Pledgor would otherwise have under any Legal Requirement, and each Pledgor hereby further waives, to the fullest extent permitted by applicable Legal Requirements (i) all damages occasioned by such taking of possession, (ii) all other
requirements as to the time, place and terms of sale or other requirements with respect to the enforcement of the Collateral Agent’s rights hereunder and (iii) all rights of redemption, appraisal,

  
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valuation, stay, extension or moratorium now or hereafter in force under any applicable Legal Requirements. The Collateral Agent shall not be liable for any incorrect or improper payment made
pursuant to this Article VIII except to the extent resulting solely from the Collateral Agent’s gross negligence, bad faith or willful misconduct as finally judicially determined by a court of competent jurisdiction. Any sale of, or the
grant of options to purchase, or any other realization upon, any Pledged Collateral shall operate to divest all right, title, interest, claim and demand, either at law or in equity, of the applicable Pledgor therein and thereto, and shall be a
perpetual bar both at law and in equity or otherwise against such Pledgor and against any and all persons claiming or attempting to claim the Pledged Collateral so sold, optioned or realized upon, or any part thereof, from, through or under such
Pledgor. 
 (b) To the maximum extent permitted by applicable Legal Requirements, each Pledgor hereby waives demand, notice,
protest, notice of acceptance of this Agreement, Pledged Collateral received or delivered or any other action taken in reliance hereon and all other demands and notices of any description. 

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

SECTION 8.4 Standards for Exercising Rights and Remedies. To the extent that applicable Legal Requirements impose duties on the
Collateral Agent to exercise remedies in a commercially reasonable manner, each Pledgor acknowledges and agrees that it is not commercially unreasonable for the Collateral Agent (i) to fail to incur expenses reasonably deemed significant by the
Collateral Agent to prepare Pledged Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other finished products for disposition, (ii) to fail to obtain third party consents for
access to Pledged Collateral to be disposed of, or to obtain or, if not required by other Legal Requirements, to fail to obtain consents for Governmental Authorities or third parties for the collection or disposition of Pledged Collateral to be
collected or disposed of, (iii) to fail to exercise collection remedies against account debtors or other persons obligated on Pledged Collateral or to fail to remove liens or encumbrances on or any adverse claims against Pledged Collateral,
(iv) to exercise collection remedies against account debtors and other persons obligated on Pledged Collateral directly or through the use of collection agencies and other collection specialists, (v) to advertise dispositions of Pledged
Collateral through publications or media of general circulation, whether or not the Pledged Collateral is of a specialized nature, (vi) to contact other persons, whether or not in the same business as any Pledgor, for expressions of interest in
acquiring all or any portion of the Pledged Collateral, (vii) to hire one or more professional auctioneers to assist in the disposition of Pledged Collateral, whether or not the collateral is of a specialized nature, (viii) to dispose of
Pledged Collateral by utilizing internet sites that provide for the auction of assets of the types included in the Pledged Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (ix) to
dispose of assets in wholesale rather than retail markets, (x) to disclaim or modify disposition warranties, (xi) to purchase insurance or credit enhancements to insure the Collateral Agent against risks of loss, collection or disposition
of Pledged Collateral or to provide to the Collateral Agent a guaranteed return from the collection or disposition of Pledged Collateral, or (xii) to the extent deemed appropriate by the Collateral Agent, to obtain the services of other
brokers, investment bankers, consultants and other professionals to assist the Collateral Agent in the collection or disposition of any of the Pledged Collateral. The Pledgors acknowledge that

  
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the purpose of this Section 8.4 is to provide non-exhaustive indications of what actions or omissions by the Collateral Agent would fulfill the Collateral Agent’s duties under
the UCC or other Legal Requirements of the State of New York or any other relevant jurisdiction in the Collateral Agent’s exercise of remedies against the Pledged Collateral and that other actions or omissions by the Collateral Agent shall not
be deemed to fail to fulfill such duties solely on account of not being indicated in this Section 8.4. Without limiting the foregoing, nothing contained in this Section 8.4 shall be construed to grant any rights to any
Pledgor or to impose any duties on the Collateral Agent that would not have been granted or imposed by this Agreement or by applicable Legal Requirements in the absence of this Section 8.4. 

SECTION 8.5 Certain Sales of Pledged Collateral. 
 (a) Each Pledgor recognizes that, by reason of certain prohibitions contained in Legal Requirements, the Collateral Agent may be compelled, with respect to any sale of all or any part of the Pledged
Collateral, to limit purchasers to those who meet the requirements of a Governmental Authority. Each Pledgor acknowledges that any such sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public
sale without such restrictions, and, notwithstanding such circumstances, agrees that any such restricted sale shall be deemed to have been made in a commercially reasonable manner and that, except as may be required by applicable Legal Requirements,
the Collateral Agent shall have no obligation to engage in public sales. 
 (b) Each Pledgor recognizes that, by reason of
certain prohibitions contained in the Securities Act and applicable state or foreign securities’ laws, the Collateral Agent may be compelled, with respect to any sale or disposition of all or any part of the Securities Collateral and Investment
Property, to limit purchasers to persons who will agree, among other things, to acquire such Securities Collateral or Investment Property for their own account, for investment and not with a view to the distribution or resale thereof. Each Pledgor
acknowledges that any such private sales may be at prices and on terms less favorable to the Collateral Agent than those obtainable through a public sale without such restrictions (including a public offering made pursuant to a registration
statement under the Securities Act), and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the Collateral Agent shall have no obligation to engage in
public sales and no obligation to delay the sale of any Securities Collateral or Investment Property for the period of time necessary to permit the issuer thereof to register it for a form of public sale requiring registration under the Securities
Act or under applicable state or foreign securities laws, even if such issuer would agree to do so. 
 (c) Notwithstanding the
foregoing, each Pledgor shall, upon the occurrence and during the continuance of any Event of Default, at the request of the Collateral Agent, for the benefit of the Collateral Agent and the other Notes Secured Parties, cause any registration,
qualification under or compliance with any federal, state or foreign securities law or laws to be effected with respect to all or any part of the Securities Collateral as soon as practicable and at the sole cost and expense of the Pledgors. Each
Pledgor will cause such registration to be effected (and be kept effective) and cause such qualification and compliance to be effected (and be kept effective) as may be so requested and as would permit or facilitate the sale and distribution of such
Securities Collateral including registration under the Securities Act (or any similar statute then in effect), appropriate qualifications under applicable blue sky or other state or foreign securities laws and appropriate compliance with all other
requirements of any Governmental Authority. Each Pledgor shall cause the Collateral Agent to be kept advised in writing as to the progress of each such registration, qualification or compliance and as to the completion thereof, shall furnish to the
Collateral Agent such number of prospectuses, offering circulars or other documents 

  
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incident thereto as the Collateral Agent from time to time may request, and shall indemnify and shall cause the issuer of the Securities Collateral to indemnify the Collateral Agent against all
claims, losses, damages and liabilities caused by any untrue statement (or alleged untrue statement) of a material fact contained therein (or in any related registration statement, notification or the like) or by any omission (or alleged omission)
to state therein (or in any related registration statement, notification or the like) a material fact required to be stated therein or necessary to make the statements therein not misleading. 

(d) If the Collateral Agent determines to exercise its right to sell any or all of the Securities Collateral or Investment Property, upon
written request, the applicable Pledgor shall, and shall cause each issuer of Securities Collateral and Investment Property to be sold hereunder to, from time to time furnish to the Collateral Agent all such information as the Collateral Agent may
reasonably request in order to determine the number and nature or interest, of securities or other instruments included in the Securities Collateral or Investment Property which may be sold by the Collateral Agent as exempt transactions under the
Securities Act and the rules of the Securities and Exchange Commission thereunder, as the same are from time to time in effect. 

(e) Each Pledgor further agrees that a breach of any of the covenants contained in this Section 8.5 will cause irreparable
injury to the Collateral Agent and other Notes Secured Parties, that the Collateral Agent and the other Notes Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in
this Section 8.5 shall be specifically enforceable against such Pledgor, and such Pledgor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants, except for a defense that no
Event of Default has occurred or is continuing. 
 SECTION 8.6 No Waiver; Cumulative Remedies. 

(a) No failure on the part of the Collateral Agent to exercise, no course of dealing with respect to, and no delay on the part of the
Collateral Agent in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy hereunder preclude any other or further exercise thereof or the
exercise of any other right, power or remedy; nor shall the Collateral Agent be required to look first to, enforce or exhaust any other security, collateral or guarantees. The remedies herein provided are cumulative and are not exclusive of any
remedies provided by applicable Legal Requirements, in equity or otherwise. 
 (b) In the event that the Collateral Agent shall
have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely
to the Collateral Agent, then and in every such case, the Pledgors, the Collateral Agent and each other Notes Secured Party shall be restored to their respective former positions and rights hereunder with respect to the Pledged Collateral, and all
rights, remedies and powers of the Collateral Agent and the other Notes Secured Parties shall continue as if no such proceeding had been instituted. 
 SECTION 8.7 Certain Additional Actions Regarding Intellectual Property Collateral. For the purpose of enabling the Collateral Agent, during the continuance of an Event of Default, to exercise
rights and remedies under this Article VIII at such time as the Collateral Agent shall be lawfully entitled to exercise such rights and remedies, and for no other purpose, each Pledgor hereby grants to the Collateral Agent, to the extent
licensable, and subject to the other remedies set forth in this Section 8.7 exercisable solely upon the occurrence and during the continuance of any Event of Default, an irrevocable, non-exclusive worldwide license (exercisable without payment
of royalty or other 

  
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compensation to such Pledgor) to use the Intellectual Property Collateral now owned or hereafter acquired by such Pledgor, wherever the same may be located. Such license shall include access to
the media within the possession of such Pledgor in which any of the licensed items may be recorded or stored and, to the extent permitted under the Contracts therefor, the computer programs used by such Pledgor for the compilation or printout
thereof. If an Event of Default shall occur and be continuing, the Collateral Agent may, by written notice to the relevant Pledgor, take any or all of the following actions: (i) declare the entire right, title and interest of such Pledgor in
and to the Intellectual Property Collateral, vested in the Collateral Agent for the benefit of the Notes Secured Parties, in which event such right, title and interest shall immediately vest upon delivery of such notice, in the Collateral Agent for
the benefit of the Notes Secured Parties, and the Collateral Agent shall be entitled to exercise the power of attorney referred to in Section 11.2 hereof to execute, cause to be acknowledged and notarized and record said absolute
assignment with the applicable agency or registrar; (ii) take and use or sell the Intellectual Property Collateral along with any goodwill of such Pledgor’s business symbolized by any Trademarks that are included in such Intellectual
Property Collateral; and (iii) direct such Pledgor to refrain, in which event such Pledgor shall refrain, from using the Intellectual Property Collateral in any manner whatsoever, directly or indirectly. Such Pledgor shall execute such further
documents that the Collateral Agent may reasonably request to further confirm this and to transfer ownership of the Intellectual Property Collateral and registrations and any pending applications in the United States Copyright Office, United States
Patent and Trademark Office, equivalent office in a state of the United States or a foreign jurisdiction or applicable Domain Name registrar to the Collateral Agent. 
 ARTICLE IX 
 COLLATERAL AGENT 

SECTION 9.1 Limitation of Duties. The Collateral Agent shall not have any duties or obligations except those expressly set forth
herein. Without limiting the generality of the foregoing, the Collateral Agent: 
 (a) shall not be subject to any fiduciary or
other implied duties, regardless of whether an Event of Default has occurred and is continuing; 
 (b) 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 Collateral Agent is required to exercise as directed in writing in accordance with the
Indenture Documents; provided that the Collateral Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Collateral Agent to liability, for which it is not indemnified to its satisfaction,
or that is contrary to this Agreement or applicable law; 
 (c) shall not be liable for any action taken or not taken by it
(1) with the consent or at the request of the Instructing Group or (2) in the absence of its own gross negligence, willful misconduct or bad faith or (3) in reliance on a certificate of an authorized officer of the Issuer stating that
such action is permitted by the terms of this Agreement or the Indenture Documents; 
 (d) shall not be responsible for or
have any duty to ascertain or inquire into (1) any statement, warranty or representation made in or in connection with this Agreement, (2) the contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (3) the performance or observance by any other Person of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default,

  
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(4) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Collateral Document or any other agreement, instrument or document, or the creation, perfection or
priority of any Lien purported to be created by the security interest, (5) the value or the sufficiency of any Collateral or (6) the satisfaction of any condition set forth in any agreement, other than to confirm receipt of items expressly
required to be delivered to the Collateral Agent. 
 SECTION 9.2 Reasonable Care. Beyond the exercise of reasonable care
in the custody thereof, the Collateral Agent shall have no duty as to any Collateral in its possession or control or in the possession or control of any agent or bailee or any income thereon or as to preservation of rights against prior parties or
any other rights pertaining thereto. The Collateral Agent shall be deemed to have exercised reasonable care in the custody of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which it accords
similar collateral and shall not be liable or responsible for any loss or diminution in the value of any of the Collateral, by reason of the act or omission of any carrier, forwarding agency or other agent or bailee. 

In the event that the Collateral Agent is required to acquire title to an asset for any reason, or take any managerial action of any kind
in regard thereto, in order to carry out any fiduciary or trust obligation for the benefit of another, which in Collateral Agent’s sole discretion may cause it to be considered an “owner or operator” under the provisions of the
Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”), 42 U.S.C. §9601, et seq., or otherwise cause it to incur liability under CERCLA or any other federal, state or local law, the Collateral Agent reserves
the right, instead of taking such action, to either resign or arrange for the transfer of the title or control of the asset to a court-appointed receiver. The Collateral Agent shall not be liable to any person for any environmental claims or
contribution actions under any federal, state or local law, rule or regulation by reason of the Collateral Agent’s actions and conduct as authorized, empowered and directed hereunder or under the other Indenture Documents or relating to the
discharge, release or threatened release of hazardous materials into the environment and the Pledgors shall indemnify the Collateral Agent pursuant to the provisions of Section 9.3(b) in connection with any claim, litigation, investigation or
proceedings relating to any of the foregoing. If at any time it is necessary or advisable for the Collateral to be possessed, owned, operated or managed by any person other than a Pledgor, a majority in interest of the Notes Secured Parties shall
direct the Collateral Agent to appoint an appropriately qualified person who they shall designate to possess, own, operate or manage, as the case may be, the Collateral. 
 The Collateral Agent may resign at any time by giving written notice thereof to the Pledgors and the Trustee; provided that no such resignation shall take effect until a successor Collateral Agent has
been appointed and has agreed to act as such under this Agreement. Upon any such resignation, the Issuer shall promptly (and no later than within 30 days) appoint a successor to the Collateral Agent. Upon the acceptance of any appointment as
Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent, and the retiring Collateral
Agent shall be discharged from its duties and obligations. After any retiring Collateral Agent’s resignation as Collateral Agent, the provisions of this Agreement shall inure to its benefit as to any actions taken or omitted to be taken by it
while it was Collateral Agent. If the Issuer fails to appoint a successor Collateral Agent within 30 days, the Collateral Agent may petition a court of competent jurisdiction to do so. 

  
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 The Collateral Agent may act through its agents and attorneys and shall not be liable for
the acts or omissions of any such agent or attorney appointed with due care by it hereunder. 
 No provision of any Indenture
Document will require the Collateral Agent to expend or risk its own funds or incur any financial liability in the performance of any of its duties hereunder or under any Indenture Document or in the exercise of any of its rights or powers if it
shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is not reasonably assured to it. The Collateral Agent will be under no obligation to exercise any of its rights and powers
hereunder or under any Indenture Document at the request or direction of any Instructing Group, unless it has been offered security or indemnity reasonably satisfactory to it against any loss, liability or expense. 

The Collateral Agent shall have no obligation whatsoever to assure that the Collateral exists or is owned by a Pledgor or is cared for,
protected, or insured or has been encumbered, or that the Collateral Agent’s Liens have been properly or sufficiently or lawfully created, perfected, protected, maintained or enforced or are entitled to any particular priority, or to determine
whether the Pledgor’s property constituting collateral intended to be subject to the Lien and security interest of the Collateral Documents has been properly and completely listed or delivered, as the case may be, or the genuineness, validity,
marketability or sufficiency thereof or title thereto, or to exercise at all or in any particular manner or under any duty of care, disclosure, or fidelity, or to continue exercising, any of the rights, authorities, and powers granted or available
to the Collateral Agent pursuant to any Indenture Document other than pursuant to the instructions of the Instructing Group in accordance with the Indenture Documents or as otherwise provided in the Collateral Documents, it being understood and
agreed that in respect of the Collateral, or any act, omission, or event related thereto, the Collateral Agent shall have no other duty or liability whatsoever to the Trustee or any Holder as to any of the foregoing. 

The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under the Indenture Documents in
accordance with a request, direction, instruction or consent of the Instructing Group. 
 Except as otherwise explicitly
provided herein or in the Indenture Documents, the Collateral Agent shall not be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or under any obligation to sell or otherwise dispose of any
Collateral upon the request of any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof, and the Collateral Agent shall be accountable only for amounts that it actually receives as a result of the
exercise of such powers, and neither the Collateral Agent nor any of its officers, directors, employees or agents shall be responsible for any act or failure to act hereunder, except for its own gross negligence, bad faith or willful misconduct.

  
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 SECTION 9.3 Expenses; Indemnity. (a) The Pledgors agree, jointly and severally,
to pay, promptly within five Business Days after being invoiced: 
 (i) all reasonable and documented out-of-pocket costs
and expenses incurred by the Collateral Agent (including reasonable attorneys’ fees) in connection with the execution and delivery of the Indenture Documents, the perfection and maintenance of the Liens securing the Collateral and any actual or
proposed amendment, supplement or waiver of any of the Indenture Documents (whether or not the transactions contemplated hereby or thereby shall be consummated); 
 (ii) all reasonable and documented out-of-pocket costs and expenses incurred by the Collateral Agent (including reasonable attorneys’ fees) in connection with any action, claim, suit,
litigation, investigation, inquiry or proceeding affecting the Collateral or any part thereof, in which action, claim, suit, litigation, investigation, inquiry or proceeding the Collateral Agent is made a party or participates or in which the right
to use the Collateral or any part thereof is threatened, or in which it becomes necessary in the judgment of the Collateral Agent to defend or uphold the Liens granted by the Collateral Documents (including any action, claim, suit, litigation,
investigation, inquiry or proceeding to establish or uphold the compliance of the Collateral with any Legal Requirements); 

(iii) all reasonable and documented out-of-pocket costs and expenses incurred by the Collateral Agent (including reasonable
attorneys’ fees) in connection with the enforcement or protection of its rights under the Indenture Documents, including its rights under this Section 9.3(a), or in connection with the collection of the Secured Obligations,
including all such costs and expenses incurred during any workout, restructuring or negotiations in respect of the Secured Obligations. 
 (b) The Pledgors agree, jointly and severally, to indemnify the Collateral Agent against, and to hold it harmless from, all reasonable and documented out-of-pocket costs and any and all losses, claims,
damages, liabilities, fees, fines, penalties, actions, judgments, suits and related expenses, including reasonable and documented attorneys’ fees, (collectively, “Claims”), incurred by, imposed on or asserted against it,
directly or indirectly, arising out of, in any way connected with, or as a result of (i) the execution, delivery, performance, administration or enforcement of the Indenture Documents or any agreement or instrument contemplated thereby or the
performance by the parties thereto of their respective obligations thereunder, (ii) any claim, litigation, investigation or proceeding relating to any of the foregoing, whether or not it is a party thereto, (iii) any actual or alleged
presence or release or threatened release of hazardous materials, on, at, under or from any property owned, leased or operated by the Issuer or any Subsidiary at any time, or any environmental claim or threatened environmental claim related to the
Issuer or any Subsidiary, (iv) any past, present or future non-compliance with, or violation of, environmental laws or environmental permits applicable to the Issuer or any Subsidiary, or the Issuer’s or any Subsidiary’s business, or
any property presently or formerly owned, leased, or operated by the Issuer or any Subsidiary or their predecessors in interest, (v) the environmental condition of any property owned, leased, or operated by the Issuer or any Subsidiary at any
time, or the applicability of any Legal Requirements relating to such property, whether or not occasioned wholly or in part by any condition, accident or event caused by any act or omission of the Issuer or any Subsidiary, (vi) the imposition
of any environmental Lien encumbering any Real Property owned, leased or operated by the Issuer or any Subsidiary, (vii) the consummation of the Transactions and the other transactions contemplated by the Indenture Documents or (viii) any
actual or prospective action, claim, suit, litigation, investigation, inquiry or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by any Pledgor or otherwise, and
regardless of whether the Collateral Agent is a party thereto; provided that such indemnity shall not 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 directly resulted solely from the gross negligence, or willful misconduct of the Collateral Agent. 

  
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 In no event shall the Collateral Agent be responsible or liable for special, punitive,
indirect, or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Collateral Agent has been advised of the likelihood of such loss or damage and regardless of the form of
action. In no event shall the Collateral Agent be responsible or liable for any failure or delay in the performance of its obligations hereunder arising out of or caused by, directly or indirectly, forces beyond its control, including, without
limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Collateral Agent shall use reasonable efforts which are consistent with accepted practices in the banking industry to resume performance as soon as practicable under the circumstances. 

(c) The Pledgors agree, jointly and severally, that, without the prior written consent of the Collateral Agent, which consent(s) will not
be unreasonably withheld, the Pledgors will not enter into any settlement of a Claim in respect of the subject matter of clauses (i) through (viii) of Section 9.3(b) unless such settlement includes an explicit and unconditional
release from the party bringing such Claim of the Collateral Agent. 
 (d) The provisions of this Section 9.3 shall
remain operative and in full force and effect regardless of the expiration of the term of this Agreement, the consummation of the Transactions and the other transactions contemplated hereby, the repayment of the Secured Obligations, the release of
any Guarantor or of all or any portion of the Collateral, the invalidity or unenforceability of any term or provision of this Agreement or any other Indenture Document or the resignation or removal of the Collateral Agent. All amounts due under this
Section 9.3 shall be accompanied by reasonable documentation with respect to any reimbursement, indemnification or other amount requested. 
 (e) All amounts due under this Section 9.3 shall be payable not later than 10 Business Days after demand therefor. 
 (f) To the extent not set forth herein, the Trustee and the Collateral Agent shall have all the rights and protections of the Trustee set forth in the Indenture. 

ARTICLE X 

APPLICATION OF PROCEEDS 
 SECTION 10.1 Application of Proceeds. (a) The proceeds received by the Collateral Agent in respect of any sale of, collection from or other realization upon all or any part of the Collateral
pursuant to the exercise by the Collateral Agent of its remedies shall be applied as follows: 
 (i) first, to the
payment of all amounts owing to the Collateral Agent and the Trustee; 
 (ii) second, to the extent proceeds remain
after the application pursuant to the preceding clause (i), an amount equal to the outstanding Secured Obligations shall be paid to the Notes Secured Parties as provided in Section 10.1(c) and (d) hereof, with each Notes Secured Party
receiving an amount equal to its outstanding Secured Obligations or, if the proceeds are insufficient to pay in full all such Secured Obligations, its Pro Rata Share of the amount remaining to be distributed; and 

  
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 (iii) third, to the extent proceeds remain after the application pursuant to the
preceding clauses (i) and (ii), to the Pledgor or to whomever may be lawfully entitled to receive such surplus. 
 (b) For
purposes of this Agreement, “Pro Rata Share” shall mean, when calculating a Notes Secured Party’s portion of any distribution or amount, that amount (expressed as a percentage) equal to a fraction the numerator of which is the
then unpaid amount of such Notes Secured Party’s Secured Obligations, and the denominator of which is the then outstanding amount of all Secured Obligations. 
 (c) All payments required to be made hereunder shall be made (x) if to the Holders, to the Trustee for the account of the Holders, and (y) if to the holders of the Pari Passu Indebtedness to the
agent or representative for such holders. 
 (d) For purposes of applying payments received in accordance with this
Section 10.1, the Collateral Agent shall be entitled to rely upon (i) the Trustee, and (ii) the agent or representative for the holders of the Pari Passu Indebtedness for a determination (which the Trustee and such agent for
the holders of the Pari Passu Indebtedness agree (or shall agree) to provide) of the outstanding Secured Obligations owed to the Holders or holders of the Pari Passu Indebtedness, as the case may be. 

(e) It is understood that the Pledgors shall remain jointly and severally liable to the extent of any deficiency between the amount of
the proceeds of the Collateral and the aggregate amount of the Secured Obligations. 
 ARTICLE XI 

MISCELLANEOUS 

SECTION 11.1 Rights of Collateral Agent. 
 (a) The Collateral Agent shall have the right hereunder to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking action (including the
release or substitution of the Pledged Collateral), in accordance with this Agreement and the Indenture. Each Notes Secured Party, by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the
Pledged Collateral hereunder, it being understood and agreed by such Notes Secured Party that all rights and remedies hereunder may be exercised solely by the Collateral Agent for the benefit of the Notes Secured Parties in accordance with the terms
of this Agreement. The Collateral Agent may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by them in good faith. 

(b) If any item of Pledged Collateral also constitutes collateral granted to the Collateral Agent under any other deed of trust,
mortgage, security agreement, pledge or instrument of any type, in the event of any conflict between the provisions hereof and the provisions of such other deed of trust, mortgage, security agreement, pledge or instrument of any type in respect of
such collateral, the provisions hereof shall control. 

  
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 SECTION 11.2 Collateral Agent May Perform; Collateral Agent Appointed
Attorneys-in-Fact. If any Pledgor shall fail to perform any covenants contained in this Agreement (including such Pledgor’s covenants to (i) pay the premiums in respect of all required insurance policies hereunder, (ii) pay
Charges, (iii) make repairs, or (iv) discharge Liens or pay or perform any obligations of such Pledgor under any Pledged Collateral) or if any representation or warranty on the part of any Pledgor contained herein shall be breached, the
Collateral Agent may (but shall not be obligated to) do the same or cause it to be done or remedy any such breach, and may expend funds for such purpose; provided, however, that no Agent shall in any event be bound to inquire into the
validity of any tax, lien, imposition or other obligation which such Pledgor fails to pay or perform as and when required hereby and which such Pledgor does not contest in accordance with the provisions of Section 4.12 hereof. Any and
all amounts so expended by the Collateral Agent shall be paid by the Pledgors in accordance with the provisions of Section 10.03 of the Indenture. Neither the provisions of this Section 11.2 nor any action taken by the Collateral
Agent pursuant to the provisions of this Section 11.2 shall prevent any such failure to observe any covenant contained in this Agreement or any breach of representation or warranty from constituting an Event of Default. Each Pledgor
hereby appoints each Agent its attorney-in-fact, with full authority in the place and stead of such Pledgor and in the name of such Pledgor, or otherwise, from time to time in such Agent’s discretion to take any action and to execute any
instrument consistent with the terms of the Indenture, this Agreement and the other Indenture Documents which such Agent may deem necessary or advisable to accomplish the purposes hereof. The foregoing grant of authority is a power of attorney
coupled with an interest and such appointment shall be irrevocable for the term hereof. Each Pledgor hereby ratifies all that such attorneys-in-fact shall lawfully do or cause to be done by virtue hereof. Notwithstanding anything in this
Section 11.2 to the contrary, the Collateral Agent agrees that it will not exercise any rights under the power of attorney provided for in this Section 11.2 unless an Event of Default has occurred and is continuing. 

SECTION 11.3 Continuing Security Interest; Assignment. This Agreement shall create a continuing security interest in the Pledged
Collateral and shall (i) be binding upon the Pledgors, their respective successors and assigns and (ii) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent and the other
Notes Secured Parties and each of their respective successors, permitted transferees and permitted assigns. No other persons (including any other creditor of any Pledgor) shall have any interest herein or any right or benefit with respect hereto.
Without limiting the generality of the foregoing clause (ii), any Notes Secured Party may assign or otherwise transfer any obligations held by it secured by this Agreement to any other person, and such other person shall thereupon become vested with
all the benefits in respect thereof granted to such Notes Secured Party, herein or otherwise, subject however, to the provisions of the Indenture. 
 SECTION 11.4 Termination; Release. This Agreement shall terminate and the Pledged Collateral shall be released from the Lien of this Agreement upon the payment in full of all of the Secured
Obligations or with respect to the Indenture Obligations, upon Legal Defeasance or Covenant Defeasance in accordance with the provisions of the Indenture, satisfaction and discharge of the Indenture in accordance with the provisions of the Indenture
or otherwise in accordance with the Indenture. Subject to the Intercreditor Agreement, a Pledgor shall automatically be released from its obligations hereunder and the security interests and the Liens resulting from this Agreement in the Collateral
and the Liens resulting from this Agreement of such Pledgor shall be automatically released upon the consummation of any transaction or series of transactions permitted by the Indenture as a result of which all of the Equity Interests of such
Pledgor have been disposed of to a Person other than another Pledgor or Subsidiary thereof. Upon termination hereof, the security interests granted hereby shall terminate and all rights to the Pledged Collateral shall revert to the applicable
Pledgor or to such other person as may be entitled thereto pursuant to any Legal Requirement. Upon termination hereof or any disposition or release of Pledged 

  
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Collateral or the release of a Pledgor, in each case, in accordance with the provisions of the Indenture, subject to the terms of the Intercreditor Agreement, the Collateral Agent shall promptly,
upon the written request and at the sole cost and expense of the Pledgors, (i) assign, transfer and deliver to the Pledgors, against receipt and without recourse to or warranty by the Collateral Agent except that the Collateral Agent has not
assigned or otherwise transferred its security interest in the Pledged Collateral, such of the Pledged Collateral to be released (in the case of a release) as may be in possession or control of the Collateral Agent and as shall not have been sold or
otherwise applied pursuant to the terms hereof, and, with respect to any other Pledged Collateral, with such endorsements or proper documents and instruments (including UCC-3 termination statements or releases) acknowledging the termination hereof
or the release of such Pledged Collateral, as the case may be and (ii) take any other action (at the expense of the Pledgors) reasonably requested to effectuate or evidence such termination or release. In addition the Collateral Agent will
release automatically without the need for any further action by any Person, from the Lien created by the Collateral Documents (i) Collateral that is sold, transferred, disbursed or otherwise disposed of to a Person other than to a Pledgor to
the extent such sale, transfer, disbursement or disposition is not prohibited by the provisions of the Indenture; provided that any products or proceeds received by the Issuer or a Guarantor in respect of any such Collateral shall continue to
constitute Collateral to the extent required by the Indenture and the Collateral Documents; (ii) the property and assets of a Pledgor upon the release of such Pledgor from its Note Guarantee in accordance with the terms of the Indenture;
(iii) any property or asset of a Pledgor that is or becomes Excluded Property; and (iv) to the extent required by the Intercreditor Agreement; provided, however, that notwithstanding any other provision of the Indenture or
the Collateral Documents, Liens securing all or substantially all of the Collateral may be released only pursuant to the terms of the first sentence of this Section 11.4. 
 SECTION 11.5 Modification in Writing. No amendment, modification, supplement, termination or waiver of or to any provision hereof, nor consent to any departure by any Pledgor therefrom, shall be
effective unless the same shall be made in accordance with the terms of the Indenture and unless in writing and signed by the Collateral Agent. Any amendment, modification or supplement of or to any provision hereof, any waiver of any provision
hereof and any consent to any departure by any Pledgor from the terms of any provision hereof shall be effective only in the specific instance and for the specific purpose for which made or given. Except where notice is specifically required by this
Agreement, no notice to or demand on any Pledgor in any case shall entitle any Pledgor to any other or further notice or demand in similar or other circumstances. 
 SECTION 11.6 Notices. Unless otherwise provided herein or in the Indenture, any notice or other communication herein required or permitted to be given shall be given in the manner and become
effective as set forth in the Indenture, as to any Pledgor, addressed to it at the address of the Issuer set forth in the Indenture and as to the Collateral Agent, addressed to it at the following address: 

The Bank of New York Mellon 
 101 Barclay
Street, Floor 4W 
 New York, NY 10286 

Attention: Corporate Trust Administration 
 , or in each case at such other address as shall be designated by such party in a written notice to the other party complying as to delivery with the terms of this Section 11.6. 

  
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 In addition to the foregoing, the Collateral Agent agrees to accept and act upon notice,
instructions or directions pursuant to this Indenture sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods. If the party elects to give the Trustee e-mail or facsimile instructions (or instructions by a
similar electronic method) and the Trustee in its discretion elects to act upon such instructions, the Collateral Agent’s understanding of such instructions shall be deemed controlling. The Collateral Agent shall not be liable for any losses,
costs or expenses arising directly or indirectly from the Collateral Agent’s reliance upon and compliance with such instructions notwithstanding such instructions conflict or are inconsistent with a subsequent written instruction. The party
providing electronic instructions agrees to assume all risks arising out of the use of such electronic methods to submit instructions and directions to the Collateral Agent, including without limitation the risk of the Collateral Agent acting on
unauthorized instructions, and the risk or interception and misuse by third parties. 
 SECTION 11.7 Governing Law, Consent
to Jurisdiction and Service of Process; Waiver of Jury Trial. 
 (a) THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR
CAUSE OF ACTION (WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. 

(b) EACH PLEDGOR HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE
SUPREME COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY
INDENTURE DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW
YORK STATE OR, TO THE EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, 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 OR ANY OTHER INDENTURE DOCUMENT OR OTHERWISE SHALL AFFECT ANY RIGHT THAT THE TRUSTEE, THE COLLATERAL AGENT OR ANY OTHER NOTES SECURED PARTY MAY OTHERWISE HAVE
TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER INDENTURE DOCUMENT AGAINST ANY PLEDGOR OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c) EACH PLEDGOR 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, 

  
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ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER INDENTURE DOCUMENT IN ANY COURT REFERRED TO IN SECTION 11.7(b). EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, 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 ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY
INDENTURE DOCUMENT, IN THE MANNER PROVIDED FOR NOTICES (OTHER THAN TELECOPY) IN SECTION 11.6. NOTHING IN THIS AGREEMENT OR ANY OTHER INDENTURE DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER
PERMITTED BY APPLICABLE LEGAL REQUIREMENTS. 
 (e) EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY
APPLICABLE LEGAL REQUIREMENTS, 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, ANY OTHER INDENTURE DOCUMENT, THE TRANSACTIONS OR THE OTHER TRANSACTIONS
CONTEMPLATED HEREBY OR THEREBY (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 11.7. 
 SECTION 11.8 Severability of Provisions. Any provision hereof which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or enforceability of such provision
in any other jurisdiction. 
 SECTION 11.9 Execution in Counterparts. This Agreement and any amendments, waivers,
consents or supplements hereto may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all such counterparts together
shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Agreement.

 SECTION 11.10 Business Days. In the event any time period or any date provided in this Agreement ends or falls on a
day other than a Business Day, then such time period shall be deemed to end and such date shall be deemed to fall on the immediately succeeding Business Day, and performance herein may be made on such Business Day, with the same force and effect as
if made on such other day. 
 SECTION 11.11 Waiver of Stay. Each Pledgor covenants that in the event that such Pledgor or
any property or assets of such Pledgor shall hereafter become the subject of a voluntary or involuntary proceeding under the Bankruptcy Code or such Pledgor shall otherwise be a party to any federal or state bankruptcy, insolvency, moratorium or
similar proceeding to which the provisions relating to the automatic stay under Section 362 of the Bankruptcy Code or any similar provision in any such Legal 

  
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Requirement is applicable, then, in any such case, whether or not the Collateral Agent has commenced foreclosure proceedings under this Agreement, such Pledgor shall not, and each Pledgor hereby
expressly waives its right to (to the extent it may lawfully do so) at any time insist upon, plead or in any way whatsoever, claim or take the benefit or advantage of any such automatic stay or such similar provision as it relates to the exercise of
any of the rights and remedies (including any foreclosure proceedings) available to the Collateral Agent as provided in this Agreement, in any other Collateral Document or any other document evidencing the Secured Obligations. Each Pledgor further
covenants that it will not hinder, delay or impede the execution of any power granted herein to the Collateral Agent, but will suffer and permit the execution of every such power as though no law relating to any stay or similar provision had been
enacted. 
 SECTION 11.12 No Credit for Payment of Taxes or Imposition. No Pledgor shall be entitled to any credit
against the principal, premium, if any, or interest payable under the Indenture Documents, and such Pledgor shall not be entitled to any credit against any other sums which may become payable under the terms thereof or hereof, by reason of the
payment of any tax on the Pledged Collateral or any part thereof. 
 SECTION 11.13 No Claims Against the Collateral
Agent. Nothing contained in this Agreement shall constitute any consent or request by the Collateral Agent, express or implied, for the performance of any labor or services or the furnishing of any materials or other property in respect of the
Pledged Collateral or any part thereof, nor as giving any Pledgor any right, power or authority to contract for or permit the performance of any labor or services or the furnishing of any materials or other property in such fashion as would permit
the making of any claim against the Collateral Agent in respect thereof or any claim that any Lien based on the performance of such labor or services or the furnishing of any such materials or other property is prior to the Lien hereof. 

SECTION 11.14 No Release. Nothing set forth in this Agreement shall relieve any Pledgor from the performance of any term,
covenant, condition or agreement on such Pledgor’s part to be performed or observed under or in respect of any of the Pledged Collateral or from any liability to any person under or in respect of any of the Pledged Collateral or shall impose
any obligation on the Collateral Agent or any other Notes Secured Party to perform or observe any such term, covenant, condition or agreement on such Pledgor’s part to be so performed or observed or shall impose any liability on the Collateral
Agent or any other Notes Secured Party for any act or omission on the part of such Pledgor relating thereto or for any breach of any representation or warranty on the part of such Pledgor contained in this Agreement, the Indenture or the other
Indenture Documents, or under or in respect of the Pledged Collateral or made in connection herewith or therewith. The obligations of each Pledgor contained in this Section 11.14 shall survive the termination hereof and the discharge of
such Pledgor’s other obligations under this Agreement, the Indenture and the other Indenture Documents or the resignation or removal of the Collateral Agent. 
 SECTION 11.15 Overdue Amounts. Until paid, all amounts due and payable under this Agreement shall constitute Secured Obligations and in the case of Indenture Obligations, shall bear interest,
whether before or after judgment, at the rate that is 1% per annum in excess of the rate then in effect on the Notes in accordance with Section 4.01 of the Indenture. 

SECTION 11.16 Actions Requiring Governmental Authority Approval. The Collateral Agent acknowledges and agrees that its rights and
remedies with respect to the Pledged Shares of any Regulated Subsidiary may be subject to the requirements of the applicable statutory rules and regulations. The Collateral Agent and the other Notes Secured Parties further recognize and acknowledge
that (i) the 

  
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disposition or transfer of any such Pledged Shares, (ii) any direct or indirect change of control of any Regulated Subsidiary, (iii) any direct or indirect exercise of management
control or other control over any Regulated Subsidiary, and (iv) payment of dividends and distributions by any Regulated Subsidiary may be subject to regulatory restrictions (including the need to obtain the consent or approval of applicable
self-regulatory authorities and other applicable regulatory authorities) and that the creation of the pledge in such Pledged Shares may require notification to applicable regulatory authorities. 

SECTION 11.17 Judgment Currency. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from
any Pledgor hereunder in the currency expressed to be payable herein (the “Judgment 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 any Notes Secured Party could purchase the Judgment Currency with such other currency at such Notes Secured Party’s New York office on the Business Day preceding that on which
final judgment is given. The obligations of any Pledgor in respect of any sum due to any Notes Secured Party hereunder shall, notwithstanding any judgment in a currency other than the Judgment Currency, be discharged only to the extent that on the
Business Day following receipt by such Notes Secured Party of any sum adjudged to be so due in such other currency such Notes Secured Party may in accordance with normal banking procedures purchase the Judgment Currency with such other currency; if
the amount of the Judgment Currency so purchased is less than the sum originally due to such Notes Secured Party in the Judgment Currency, each Pledgor agrees, to the fullest extent that it may effectively do so, as a separate obligation and
notwithstanding any such judgment, to indemnify the Notes Secured Party against such loss, and if the amount of the Judgment Currency so purchased exceeds the sum originally due to such Notes Secured Party in the Judgment Currency, such Notes
Secured Party agrees to remit such excess to such Pledgor. 
 SECTION 11.18 Obligations Absolute. All obligations of each
Pledgor hereunder shall be absolute and unconditional irrespective of: 
 (a) any bankruptcy, insolvency, reorganization,
arrangement, readjustment, composition, liquidation or the like of any Pledgor; 
 (b) any lack of validity or
enforceability of any Indenture Document, or any other agreement or instrument relating thereto against any Pledgor; 

(c) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or any
other amendment or waiver of or any consent to any departure from any Indenture Document or any other agreement or instrument relating thereto; 
 (d) any pledge, exchange, release or non-perfection or loss of priority of any other collateral, or any release or amendment or waiver of or consent to any departure from any guarantee, for all or
any of the Secured Obligations; 
 (e) any exercise, non-exercise or waiver of any right, remedy, power or privilege under
or in respect hereof, or any Indenture Document; or 
 (f) any other circumstances which might otherwise constitute a
defense available to, or a discharge of, any Pledgor. 

  
 H-45

 SECTION 11.19 Pari Passu Indebtedness. If the Issuer or any Guarantor incurs any Pari
Passu Indebtedness, an authorized representative of the holders of such Pari Passu Indebtedness (or if there is no authorized representative, then all holders of such Pari Passu Indebtedness) shall enter into an Accession Agreement, and thereafter
the relationship between the Holders of the Notes and holders of the Pari Passu Indebtedness will be governed by this Agreement. 
 (b) Each of the Notes Secured Parties and the holders of the Pari Passu Indebtedness agree that: 
 (i) notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens on the Collateral securing the Indenture Obligations and the Pari Passu Payment Lien
Obligations, the Liens securing all such Indebtedness shall be of equal priority; and 
 (ii) the Indenture Obligations and
the Pari Passu Payment Lien Obligations may be increased, extended, renewed, replaced, restated, supplemented, restructured, refunded, refinanced or otherwise amended from time to time, in each case, to the extent permitted by the Intercreditor
Agreement, if any, the Indenture and the Pari Passu Payment Lien Documents. 
 (c) The Collateral Agent shall act in relation to
the Collateral in accordance with the instructions of the majority in aggregate principal amount of the then outstanding Indenture Obligations and the Pari Passu Payment Lien Obligations, if any (the “Instructing Group”);
provided, however, any Notes held by the Issuer or an Affiliate of the Issuer and any Pari Passu Payment Lien Obligations held by the Issuer or an Affiliate of the Issuer shall be deemed not to be outstanding for purposes of the
Instructing Group, except that in determining whether the Collateral Agent shall be protected in relying upon such direction, only those Notes and Pari Passu Payment Lien Obligations that the Collateral Agent actually knows to be so owned shall be
so disregarded. If the Collateral Agent shall not have received appropriate instruction within 10 days prior to a request therefor from the Instructing Group (or such shorter period as may be reasonably requested) it may, but shall be under no duty,
to take or refrain from taking such action as it shall determine in good faith; provided, that the Collateral Agent shall have no liability for such action or inaction. 
 (d) As between the Holders of the Notes and the holders of Pari Passu Indebtedness, only the Instructing Group shall have the right to direct the Collateral Agent in conducting foreclosures and in taking
other actions with respect to the Collateral, and the authorized representatives of other Indebtedness have no right to take actions with respect to the Collateral. The Instructing Group shall have the sole right to instruct the Collateral Agent to
act or refrain from acting with respect to the Collateral, and the Collateral Agent shall not follow any instructions with respect to such Collateral from any other Person. No authorized representative of any Indebtedness (other than the Instructing
Group) will instruct the Collateral Agent to commence any judicial or non-judicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take possession
of, exercise any right, remedy or power with respect to, or otherwise take any action to enforce its interests in or realize upon, or take any other action available to it in respect of, the Collateral. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

  
 H-46

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

			
	KCG HOLDINGS, INC.
	as Pledgor
		
	By:	 	  

		 	Name:
		 	Title:
	
	BLINK TRADING LLC
	GETCO HOLDING COMPANY, LLC
	GETCO TRADING, LLC
	GLOBAL COLOCATION SERVICES LLC
	HOTSPOT FX HOLDINGS, INC.
	KNIGHT CAPITAL GROUP, INC.
	KNIGHT CAPITAL HOLDINGS LLC
	KNIGHT FIXED INCOME HOLDINGS LLC
	KNIGHT HOTSPOT FX LLC
	KNIGHT LIBERTAS HOLDINGS LLC
	KNIGHT QUANTITATIVE TRADING LLC
as Pledgors and as Guarantors
		
	By:	 	  

		 	Name:
		 	Title:

  
 Janus -
Security Agreement 

 
			
	Accepted and Agreed to:
	
	THE BANK OF NEW YORK MELLON
	as Collateral Agent and Trustee
		
	By:	 	  

		 	Name:
		 	Title:

  
 Janus -
Security Agreement 

 SCHEDULE 1 
 PERFECTION STEPS 
 Schedule 1 to Security Agreement 

 EXHIBIT 1 
 [Form of] 
 ACKNOWLEDGMENT BY ISSUER OF PLEDGED SECURITIES 

The undersigned hereby (i) acknowledges receipt of a copy of that certain Security Agreement dated as of
[            ], 2013 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”; capitalized terms used but not
otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement), made by KCG Holdings, Inc., a Delaware corporation, the Guarantors party thereto, The Bank of New York Mellon, as Trustee, and The Bank of New York
Mellon, as Collateral Agent, (ii) agrees promptly to note on its books the security interests granted to the Collateral Agent and confirmed under the Security Agreement, (iii) agrees that it will comply with instructions of the Collateral
Agent or its nominee with respect to the applicable Securities Collateral without further consent by the applicable Pledgor, (iv) agrees that the “issuer’s jurisdiction” (as defined in Section 8-110 of the UCC) is the State
of New York, U.S.A., (v) agrees to notify the Collateral Agent upon obtaining knowledge of any interest in favor of any person in the applicable Securities Collateral that is adverse to the interest of the Collateral Agent therein and
(vi) waives any right or requirement at any time hereafter to receive a copy of the Security Agreement in connection with the registration of any Securities Collateral thereunder in the name of the Collateral Agent or its nominee or the
exercise of voting rights by the Collateral Agent or its nominee. 
  

			
	[                            
            ]
		
	By:	 	  

		 	Name:
		 	Title:

 Issuer’s Acknowledgment 

 EXHIBIT 2 
 [Form of] 
 SECURITIES PLEDGE AMENDMENT 

This Security Pledge Amendment, dated as of [            ,
        ] (the “Pledge Amendment”) is delivered pursuant to Section 5.1 of that certain Security Agreement dated as of
[            ], 2013 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Security Agreement”; capitalized terms used but not
otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement), made by KCG Holdings, Inc., a Delaware corporation, the Guarantors party thereto, The Bank of New York Mellon, as Trustee, and The Bank of New York
Mellon, as Collateral Agent. The undersigned hereby agrees that this Pledge Amendment may be attached to the Security Agreement and that the Pledged Securities and/or Intercompany Notes listed on this Pledge Amendment shall be deemed to be and shall
become part of the Pledged Collateral and shall secure all Secured Obligations. 
  

			
	[                            
            ]
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	AGREED TO AND ACCEPTED:
	
	THE BANK OF NEW YORK MELLON,
as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  
 Securities
Pledge Amendment Page 1 of 2 

 PLEDGED SECURITIES 

 

											
	ISSUER	 	CLASS OF
STOCK OR
INTERESTS	 	PAR
VALUE	 	CERTIFICATE
NO(S).	 	NUMBER
OF
SHARES
OR
INTERESTS	 	PERCENTAGE OF
ALL ISSUED
CAPITAL OR
OTHER EQUITY
INTERESTS OF
ISSUER
		 		 		 		 		 	
		 		 		 		 		 	
		 		 		 		 		 	

 INTERCOMPANY NOTES 

 

									
	ISSUER	 	PRINCIPAL
AMOUNT	 	DATE OF
ISSUANCE	 	INTEREST RATE	 	MATURITY
DATE
		 		 		 		 	
		 		 		 		 	
		 		 		 		 	

  
 Securities
Pledge Amendment Page 2 of 2 

 EXHIBIT 3 
 [Form of] 
 JOINDER AGREEMENT 

[Name of New Pledgor] 
 [Address of New Pledgor] 
 [Date] 

	
	
	  

	
	  

	
	  

	
	  

 Ladies and Gentlemen: 
 Reference is made to that certain Security Agreement dated as of [            ], 2013 (as amended, amended and restated, supplemented or
otherwise modified from time to time, the “Security Agreement”; capitalized terms used but not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement), made by KCG Holdings, Inc., a
Delaware corporation, the Guarantors party thereto, The Bank of New York Mellon, as trustee (in such capacity, together with its successors and assigns, the “Trustee”) and The Bank of New York Mellon, as collateral agent (in such
capacity, together with its successors and assigns, the “Collateral Agent”). 
 This joinder agreement
supplements the Security Agreement and is delivered by the undersigned, [            ] (the “New Pledgor”), pursuant to Section 3.5 of the Security Agreement.
The New Pledgor hereby agrees to be bound as a Guarantor and as a Pledgor by all of the terms, covenants and conditions set forth in the Security Agreement to the same extent that it would have been bound if it had been a signatory to the Security
Agreement on the execution date of the Security Agreement. The New Pledgor also hereby agrees to be bound as a party by all of the terms, covenants and conditions applicable to it set forth in the Indenture to the same extent that it would have been
bound if it had been a signatory to the Indenture on the execution date of the Indenture. Without limiting the generality of the foregoing, the New Pledgor hereby grants and pledges to the Trustee and the Collateral Agent, as collateral security for
the full, prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations, a Lien on and security interest in, all of its right, title and interest in, to and under the
Pledged Collateral and expressly assumes all obligations and liabilities of a Guarantor under the Indenture and a Pledgor under the Security Agreement. The New Pledgor hereby makes each of the representations and warranties and agrees to each of the
covenants applicable to (i) the Pledgors contained in the Security Agreement and (ii) the Guarantors under the Security Agreement. 

  
 Joinder
Agreement Page 1 of 3 

 Annexed hereto are supplements to each of the Schedules to the Security Agreement with
respect to the New Pledgor. Such supplements shall be deemed to be part of the Security Agreement. 
 This joinder agreement and
any amendments, waivers, consents or supplements hereto may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all
such counterparts together shall constitute one and the same agreement. Delivery of an executed counterpart of this joinder agreement by telecopy or other electronic means shall be effective as delivery of a manually executed counterpart of this
joinder agreement. 
 THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAW OF THE STATE OF NEW YORK. 
 [Remainder of this page intentionally left blank] 

  
 Joinder
Agreement Page 2 of 3 

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

					
	[NEW PLEDGOR]
		
	By:	 	  

		 	Name:	 	  

		 	Title::	 	  

  

					
	AGREED TO AND ACCEPTED:
	
	THE BANK OF NEW YORK MELLON,
	as Collateral Agent and as Trustee
		
	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

 [Schedules to be attached] 

  
 Joinder
Agreement Page 3 of 3 

 EXHIBIT 4 
 [Form of] 
 COPYRIGHT SECURITY AGREEMENT 

This Copyright Security Agreement (this “Copyright Security Agreement”), dated as of
[            ,         ], by KCG Holdings, Inc., a Delaware corporation (the “Issuer”) and each Guarantor listed on Schedule
1 hereto (collectively, the “Original Guarantors,” together with the Issuer, the “Pledgors”), in favor of The Bank of New York Mellon, in its capacity as Collateral Agent pursuant to the Indenture dated as of
June 5, 2013 (in such capacity, the “Collateral Agent”). 
 W I T N E
S S E T H: 
 WHEREAS, the Pledgors are party to a Security Agreement dated as of
[            ,         ] (the “Security Agreement”) in favor of the Collateral Agent pursuant to which the Pledgors are required to
execute and deliver this Copyright Security Agreement. 
 NOW, THEREFORE, in consideration of the premises and to induce the
Collateral Agent, for the ratable benefit of the Notes Secured Parties, to enter into the Indenture, the Pledgors hereby agree with the Collateral Agent as follows: 
 SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Copyright Collateral. Each Pledgor hereby acknowledges that it has, pursuant to the
Security Agreement, pledged and granted to the Collateral Agent for the ratable benefit of the Notes Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral
of such Pledgor (collectively, the “Copyright Collateral”): 
  

	 	(a)	 Copyrights of such Pledgor listed on Schedule 21 attached hereto; and 

  

	 	(b)	all Proceeds of any and all of the foregoing (other than Excluded Property). 

 SECTION 3. Security Agreement. The security interest referenced in this Copyright Security Agreement is in conjunction with the security interest granted to the Collateral Agent pursuant to the
Security Agreement, and the Pledgors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the Copyright Collateral made and granted hereby are more fully set forth in the
Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Copyright Security Agreement is deemed to conflict with the Security Agreement, the
provisions of the Security Agreement shall control. 
 SECTION 4. Termination. Upon the full payment and performance of
the Secured Obligations, upon written request of the Issuer, the Collateral Agent shall execute, acknowledge, and deliver to the 

  
  

	1. 
	 List the Copyrights identified in the Perfection Certificate. 

Copyright Security Agreement Page 1 of 3 

 
Pledgors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in the Copyrights under the Security Agreement as referenced in
this Copyright Security Agreement. 
 [Signature Page Follows] 

  
 Copyright
Security Agreement Page 2 of 3 

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

			
	[PLEDGORS]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[ORIGINAL GUARANTORS]2
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	THE BANK OF NEW YORK MELLON,
	as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

  

	2. 
	 This agreement needs to be executed only by any Guarantor that owns Copyright Collateral. 

  
 Copyright
Security Agreement Page 3 of 3 

 SCHEDULE 1 
 to 
 COPYRIGHT SECURITY AGREEMENT 

ORIGINAL GUARANTORS 
  

			
	 NAME
	  	 ADDRESS

		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	

  
 Schedule 1 to
Copyright Security Agreement 

 SCHEDULE 2 
 to 
 COPYRIGHT SECURITY AGREEMENT 

COPYRIGHT REGISTRATIONS AND COPYRIGHT APPLICATIONS 
 Copyright Registrations: 
  

					
	OWNER	 	REGISTRATION
NUMBER	 	TITLE
		 		 	

 Copyright Applications: 
  

			
	OWNER	 	TITLE
		 	

  
 Schedule 2 to
Copyright Security Agreement 

 EXHIBIT 5 
 [Form of] 
 PATENT SECURITY AGREEMENT 

This Patent Security Agreement (this “Patent Security Agreement”), dated as of
[            ,         ], by KCG Holdings, Inc., a Delaware corporation (the “Issuer”) and each Guarantor listed on Schedule
1 hereto (collectively, the “Original Guarantors,” and together with the Issuer, the “Pledgors”), in favor of The Bank of New York Mellon, in its capacity as Collateral Agent pursuant to the Indenture dated as
of June 5, 2013 (in such capacity, the “Collateral Agent”). 
 W I T N E
S S E T H: 
 WHEREAS, the Pledgors are party to a Security Agreement dated as of
[            ,         ] (the “Security Agreement”) in favor of the Collateral Agent pursuant to which the Pledgors are required to
execute and deliver this Patent Security Agreement. 
 NOW, THEREFORE, in consideration of the premises and to induce the
Collateral Agent, for the ratable benefit of the Notes Secured Parties, to enter into the Indenture, the Pledgors hereby agree with the Collateral Agent as follows: 
 SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Patent Collateral. Each Pledgor hereby acknowledges that it has, pursuant to the Security
Agreement, pledged and granted to the Collateral Agent for the ratable benefit of the Notes Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such
Pledgor (collectively, the “Patent Collateral”): 
 (a) Patents of such Pledgor listed on
Schedule 21 attached hereto; and 
 (b) all Proceeds of any and all of the foregoing
(other than Excluded Property). 
 SECTION 3. Security Agreement. The security interest referenced in this Patent
Security Agreement is in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement, and the Pledgors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to
the security interest in the Patent Collateral made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any
provision of this Patent Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 
 SECTION 4. Termination. Upon the full payment and performance of the Secured Obligations, upon written request of the Issuer, the Collateral Agent shall execute, acknowledge, and deliver to the

  

	1. 	 List the Patents identified in the Perfection Schedule. 

  
 Patent
Security Agreement Page 1 of 3 

 
Pledgors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in the Patents under the Security Agreement as referenced in
this Patent Security Agreement. 
 [Signature Page Follows] 

  
 Patent
Security Agreement Page 2 of 3 

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

			
	[PLEDGORS]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[ORIGINAL GUARANTORS]2
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Accepted and Agreed:
	
	 THE BANK OF NEW YORK MELLON,
 as Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:

  

	2. 	 This agreement needs to be executed only by any Guarantor that owns Patent Collateral. 

  
 Patent
Security Agreement Page 3 of 3 

 SCHEDULE 1 
 to 
 PATENT SECURITY AGREEMENT 

ORIGINAL GUARANTORS 
  

			
	 NAME
	  	 ADDRESS

		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	

  
 Schedule 1 to
Patent Security Agreement 

 SCHEDULE 2 
 to 
 PATENT SECURITY AGREEMENT 

PATENT REGISTRATIONS AND APPLICATIONS 
 Patent Registrations: 
  

					
	OWNER	 	REGISTRATION
NUMBER	 	TITLE
		 		 	

 Patent Applications: 
  

			
	OWNER	 	TITLE
		 	

  
 Schedule 2 to
Patent Security Agreement 

 EXHIBIT 6 
 [Form of] 
 TRADEMARK SECURITY AGREEMENT 

This Trademark Security Agreement (this “Trademark Security Agreement”), dated as of
[            ,         ] by KCG Holdings, Inc., a Delaware corporation (the “Issuer”) and each Guarantor listed on Schedule 1
hereto (collectively, the “Original Guarantors,” together with the Issuer, the “Pledgors”), in favor of The Bank of New York Mellon, in its capacity as Collateral Agent pursuant to the Indenture dated as of
June 5, 2013 (in such capacity, the “Collateral Agent”). 
 W I T N E
S S E T H: 
 WHEREAS, the Pledgors are party to a Security Agreement dated as of
[            ,         ] (the “Security Agreement”) in favor of the Collateral Agent pursuant to which the Pledgors are required to
execute and deliver this Trademark Security Agreement. 
 NOW, THEREFORE, in consideration of the premises and to induce the
Collateral Agent, for the ratable benefit of the Notes Secured Parties, to enter into the Indenture, the Pledgors hereby agree with the Collateral Agent as follows: 
 SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Trademark Collateral. Each Pledgor hereby acknowledges that it has, pursuant to the
Security Agreement, pledged and granted to the Collateral Agent for the ratable benefit of the Notes Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral
of such Pledgor (collectively, the “Trademark Collateral”): 
  

	 	(a)	 Trademarks of such Pledgor listed on Schedule 21 attached hereto; 

 

	 	(b)	all goodwill associated with such Trademarks; and 

  

	 	(c)	all Proceeds of any and all of the foregoing (other than Excluded Property). 

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

	1. 	 List the Trademarks identified in the Perfection Certificate. 

  
 Trademark
Security Agreement Page 1 of 3 

 SECTION 4. Termination. Upon the full payment and performance of the Secured
Obligations, upon written request of the Issuer, the Collateral Agent shall execute, acknowledge, and deliver to the Pledgors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest
in the Trademarks under the Security Agreement as referenced in this Trademark Security Agreement. 
 [Signature Page Follows]

  
 Trademark
Security Agreement Page 2 of 3 

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

			
	[PLEDGORS]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[ORIGINAL GUARANTORS]2
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Accepted and Agreed:
	
	 THE BANK OF NEW YORK MELLON,
 as Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:

  

	2. 	 This agreement needs to be executed only by any Guarantor that owns Trademark Collateral. 

  
 Trademark
Security Agreement Page 3 of 3 

 SCHEDULE 1 
 to 
 TRADEMARK SECURITY AGREEMENT 

ORIGINAL GUARANTORS 
  

			
	 NAME
	  	 ADDRESS

		  	
		  	
		  	
		  	
		  	
		  	
		  	
		  	

  
 Schedule 1 to
Trademark Security Agreement 

 SCHEDULE 2 
 to 
 TRADEMARK SECURITY AGREEMENT 

TRADEMARK REGISTRATIONS AND APPLICATIONS 
 Trademark Registrations: 
  

					
	OWNER	 	REGISTRATION
NUMBER	 	TITLE
		 		 	

 Trademark Applications: 
  

			
	OWNER	 	TITLE
		 	

  
 Schedule 1 to
Trademark Security Agreement 

 EXHIBIT 7 
 [Form of] 
 ACCESSION AGREEMENT 

ACCESSION AGREEMENT (this “Agreement”), dated as of             
    , 201    , is by and among [            ] (the “New Secured Party”), KCG Holdings, Inc., a Delaware corporation (the
“Issuer”) and [            ] (each a “Guarantor”, and together with the Issuer and any other entity that becomes a pledgor hereunder pursuant to
Section 3.5 of the Security Agreement (as defined below), collectively, the “Pledgors” and each, an “Pledgor”) and THE BANK OF NEW YORK MELLON, as collateral agent (together with any successor thereto, the
“Collateral Agent”) for the benefit of the Notes Secured Parties (as defined in the Security Agreement referred to below). 

Reference is hereby made to that certain Security Agreement dated as of [            ]
[    ], 2013 (the “Security Agreement”) among the Pledgors and the Collateral Agent. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Security
Agreement. 
 WHEREAS, the New Secured Party wishes to become a “Notes Secured Party” under the Security Agreement and the other
Collateral Documents as contemplated under Section 11.19 of the Security Agreement, the New Secured Party hereby agrees as follows: 
 1.
Effective Date. The effective date for this Agreement shall be             , 201     (the “Effective Date”). 

2. Accession. The New Secured Party, as [agent] under that certain [Loan Agreement], dated as of
[            ], 201[    ] (the “New Loan Document”), among the Issuer, the Guarantors[, any other parties] and the New Secured Party, hereby
agrees to become party as a Notes Secured Party under the Security Agreement and the other Collateral Documents to which a Notes Secured Party is a party for all purposes thereof on the terms set forth therein, and to be bound by the terms of the
Security Agreement and the other Collateral Documents as fully as if the New Secured Party had executed and delivered the Security Agreement and the other Collateral Documents to which a Notes Secured Party is a party as of the date thereof.

 3. Rights and Obligations under Security Agreement. Upon the execution and delivery of this Agreement by the New Secured Party, from
and after the Effective Date, the New Secured Party shall be a party to the Security Agreement and the other Collateral Documents to which a Notes Secured Party is a party and have the obligations and rights of a Notes Secured Party under the
Security Agreement and the other Collateral Documents. In furtherance of the foregoing, each Pledgor shall duly authorize, prepare, execute and deliver, and cause to be, an amendment to the Collateral Documents as may be necessary to give effect to
this Section 3 and Section 4, including by adding the New Secured Party’s Pari Passu Payment Lien Obligations as obligations secured by each such Collateral Document. The Collateral Agent shall, to the extent necessary
for any such amendment to be effective, execute such amendment presented to it by the relevant Pledgor. To the extent that any Collateral (or proceeds thereof) comes into the possession or under the control of the Collateral Agent or any other Notes
Secured Party after the date hereof in connection with any Collateral (whether arising out of action taken to enforce, collect or realize upon any such Collateral or otherwise) that is attributable to the Indenture Obligations or the Pari Passu
Payment Lien Obligations, the Collateral Agent or such Notes Secured Party shall hold the same as agent and bailee for the New Secured Party and the Pledgors to give effect to Section 4 hereof, and the proceeds of such Collateral shall be
applied in accordance with Section 10.1 of the Security Agreement. 

  
 Schedule 1 to
Trademark Security Agreement 

 4. Lien Sharing and Priority Confirmation. The New Secured Party, on behalf of itself and each holder
of the Pari Passu Indebtedness under the New Loan Document for which the New Secured Party is acting as [agent] hereby agrees, for the enforceable benefit of all holders of each existing and future Indenture Obligations and Pari Passu Payment Lien
Obligations and as a condition to being treated as Secured Obligations under the Security Agreement that: 
 (a)
all Indenture Obligations and Pari Passu Payment Lien Obligations will be and are secured equally and ratably by all Liens at any time granted by the Issuer or the Guarantor or any successor company to secure any Indenture Obligations and Pari Passu
Payment Lien Obligations on the Collateral for such Indenture Obligations and Pari Passu Payment Lien Obligations, and that all such Liens will be enforceable by the Collateral Agent for the benefit of all holders of Indenture Obligations and Pari
Passu Payment Lien Obligations equally and ratably; and 
 (b) the New Secured Party and each holder of the Pari
Passu Payment Lien Obligations for which the New Secured Party is acting as [agent] are bound by the provisions of the Security Agreement and the other Collateral Documents, including the provisions relating to the ranking of Liens and the order of
application of proceeds from the enforcement of Liens. 
 5. Appointment of Collateral Agent. The New Secured Party, by its execution and
delivery hereof and each holder of the Pari Passu Indebtedness, by its acceptance of the New Loan Document, consent and agree to the terms of the Collateral Documents (including, without limitation, the provisions providing for foreclosure and
release of Collateral) as the same may be in effect or may be amended from time to time in accordance with their terms, and authorize and appoint The Bank of New York Mellon as the Collateral Agent, and the New Secured Party and each holder of Pari
Passu Indebtedness direct the Collateral Agent to enter into the Collateral Documents and to perform its obligations and exercise its rights thereunder in accordance therewith. 
 6. Representations and Warranties. Each of the Pledgors represents and warrants for the benefit of each of the parties hereto and the Notes Secured Parties as of the Effective Date that the
Indebtedness being provided under the New Loan Document (i) is permitted to be incurred under Section 4.09 of the Indenture, (ii) is secured by a Permitted Lien described in clause (15) of the definition of Permitted
Liens, and] (iii) has been designated as Pari Passu Indebtedness in an Officers’ Certificate delivered to the Collateral Agent on or before the Effective Date, and (iv) the aggregate principal amount of such Indebtedness does not and
will not at any time exceed the Maximum Pari Passu Indebtedness Principal Amount identified in the Supplement to the Intercreditor Agreement, if dated as of the Effective Date. 
 7. Collateral Provisions. (a) Not in limitation of the grant included in Section 2.1 of the Security Agreement, but in furtherance thereof, each Pledgor hereby reaffirms for the benefit
of the New Secured Party the grant of security interest set forth in Section 2.1 of the Security Agreement and grants a security interest in all of its right, title and interest in all Collateral (as defined in the Security Agreement) in
favor of the Collateral Agent, for the benefit of the Notes Secured Parties (including, without limitation, the New Secured Party and each holder of the new Pari Passu Indebtedness) to secure the Secured Obligations (as defined in the Security
Agreement), including, without limitation, the Pari Passu Payment Lien Obligations owing to the holders of the new Pari Passu Indebtedness. 

(b) By its signature hereto, each Pledgor hereby authorizes the Collateral Agent (but the Collateral Agent is not obligated) to file against such
Pledgor, without such Pledgor’s signature, one or more financing, continuation or amendment statements pursuant to the UCC as may be necessary to establish and maintain the security interests created under the Security Agreement (which
statements may describe 

 
the Collateral as “all assets, whether now owned or hereafter acquired” of such Pledgor or by using words of similar effect); provided, however, such authorization shall not
relieve any Pledgor from its respective obligations to take actions necessary to perfect and maintain the perfection of the Collateral Agent’s Lien on the Collateral. All charges, expenses and fees that the Collateral Agent may incur in doing
any of the foregoing, and any local taxes relating thereto, shall be paid by the Pledgors to the Collateral Agent immediately upon demand. 
 8.
Governing Law. This Agreement shall be governed by, and construed in accordance with, the law of the State of New York. 
 9.
Notices. The address of the New Secured Party for purposes of Section 11.6 of the Security Agreement is: 
  

	
	[                              
          ]
	[                              
          ]
	[                              
          ]
	Attn:
[                                        
]
	Tel:
[                                        
]
	
	Fax:
[                                        
]

 unless changed in accordance with the terms thereof. 
 9. Counterparts. This Agreement may be executed in any number of counterparts which shall together constitute but one and the same agreement. 

10. Third Party Beneficiary. The Holders of the Notes and the other Notes Secured Parties are intended third party beneficiaries of this
Agreement. 
 [Remainder of this page intentionally left blank; signature page follows] 

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

			
	[NAME OF NEW SECURED PARTY]
		
	By:	 	  

		 	Name:
		 	Title:
	
	[PLEDGORS].
		
	By:	 	  

		 	Name:
		 	Title:
	
	[            ]
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	THE BANK OF NEW YORK MELLON
	 as Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:

 EXHIBIT I 
 [FORM OF] 
  

 
 INTERCREDITOR
AGREEMENT 
 dated as of [July     ], 2013 

among 
 KCG
HOLDINGS, INC., 
 as Company 
 JEFFERIES FINANCE LLC, 
 as First Lien Collateral Agent 

and 
 THE BANK OF
NEW YORK MELLON, 
 as Second Lien Collateral Agent 

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
			
	 SECTION 1
	  	 Definitions
	  	 	1	  
	 1.1
	  	 Defined Terms
	  	 	1	  
	 1.2
	  	 Terms Generally
	  	 	11	  
			
	 SECTION 2
	  	 Lien Priorities
	  	 	12	  
	 2.1
	  	 Relative Priorities
	  	 	12	  
	 2.2
	  	 Prohibition on Contesting Liens; No Marshalling
	  	 	13	  
	 2.3
	  	 No New Liens
	  	 	13	  
	 2.4
	  	 Similar Liens and Agreements
	  	 	13	  
	 2.5
	  	 Pari Passu Payment Lien Obligations
	  	 	14	  
			
	 SECTION 3
	  	 Enforcement
	  	 	14	  
	 3.1
	  	 Exercise of Remedies
	  	 	14	  
	 3.2
	  	 Actions Upon Breach; Specific Performance
	  	 	18	  
			
	 SECTION 4
	  	 Payments
	  	 	18	  
	 4.1
	  	 Application of Proceeds
	  	 	18	  
	 4.2
	  	 Payments Over
	  	 	19	  
	 4.3
	  	 Certain Agreements with respect to Unenforceable Collateral
	  	 	19	  
			
	 SECTION 5
	  	 Other Agreements
	  	 	20	  
	 5.1
	  	 Releases
	  	 	20	  
	 5.2
	  	 Insurance
	  	 	21	  
	 5.3
	  	 Amendments to First Lien Loan Documents and Second Lien Documents
	  	 	21	  
	 5.4
	  	 Legends
	  	 	23	  
	 5.5
	  	 Gratuitous Bailee/Agent for Perfection
	  	 	23	  
	 5.6
	  	 When Discharge of First Lien Obligations Deemed to Not Have Occurred
	  	 	24	  
	 5.7
	  	 Purchase Right
	  	 	25	  
			
	 SECTION 6
	  	 Insolvency or Liquidation Proceedings
	  	 	26	  
	 6.1
	  	 Finance and Sale Issues
	  	 	26	  
	 6.2
	  	 Relief from the Automatic Stay
	  	 	28	  
	 6.3
	  	 Adequate Protection
	  	 	28	  
	 6.4
	  	 No Waiver
	  	 	29	  
	 6.5
	  	 Avoidance Issues
	  	 	29	  
	 6.6
	  	 Reorganization Securities
	  	 	29	  
	 6.7
	  	 Post-Petition Interest
	  	 	30	  
	 6.8
	  	 Waiver 
	  	 	30	  
	 6.9
	  	 Separate Grants of Security and Separate Classification
	  	 	30	  
	 6.10
	  	 Effectiveness in Insolvency Proceedings
	  	 	31	  
	 6.11
	  	 No Surcharge of Collateral
	  	 	31	  
	 6.12
	  	 Right to Credit Bid
	  	 	31	  
	 6.13
	  	 Plan Treatment
	  	 	31	  
			
	 SECTION 7
	  	 Reliance; Waivers; Etc
	  	 	31	  
	 7.1
	  	 Reliance
	  	 	31	  

  
 i 

							
	 	  	 	  	Page	 
			
	 7.2
	  	 No Warranties or Liability
	  	 	31	  
	 7.3
	  	 No Waiver of Lien Priorities
	  	 	32	  
	 7.4
	  	 Obligations Unconditional
	  	 	33	  
			
	 SECTION 8
	  	 Miscellaneous
	  	 	34	  
	 8.1
	  	 Conflicts
	  	 	34	  
	 8.2
	  	 Effectiveness; Continuing Nature of this Agreement; Severability
	  	 	34	  
	 8.3
	  	 Amendments; Waivers
	  	 	35	  
	 8.4
	  	 Information Concerning Financial Condition of the Company and its Subsidiaries
	  	 	35	  
	 8.5
	  	 Subrogation
	  	 	36	  
	 8.6
	  	 Application of Payments
	  	 	36	  
	 8.7
	  	 SUBMISSION TO JURISDICTION; WAIVERS
	  	 	37	  
	 8.8
	  	 Notices
	  	 	38	  
	 8.9
	  	 Further Assurances
	  	 	38	  
	 8.10
	  	 APPLICABLE LAW
	  	 	38	  
	 8.11
	  	 Binding on Successors and Assigns
	  	 	38	  
	 8.12
	  	 Headings
	  	 	38	  
	 8.13
	  	 Counterparts
	  	 	38	  
	 8.14
	  	 Authorization
	  	 	39	  
	 8.15
	  	 No Third Party Beneficiaries; Provisions Solely to Define Relative Rights
	  	 	39	  
	 8.16
	  	 No Indirect Actions
	  	 	39	  
	 8.17
	  	 Grantors; Additional Grantors
	  	 	39	  
	 8.18
	  	 Collateral Agents
	  	 	39	  

  
 ii 

 INTERCREDITOR AGREEMENT 

This INTERCREDITOR AGREEMENT (this “Agreement”), is dated as of July [    ], 2013, and
entered into by and among Jefferies Finance LLC, in its capacity as collateral agent for the holders of the First Lien Obligations (as defined below), including its successors and assigns from time to time (in such capacity, the “First Lien
Collateral Agent”) and The Bank of New York Mellon (“BNYM”), in its capacity as collateral agent for the holders of the Second Lien Obligations (as defined below), including its successors and assigns from time to time (in
such capacity, the “Second Lien Collateral Agent”) and acknowledged and agreed to by KCG Holdings, Inc. (the “Company”) and the other Grantors (as defined below). Capitalized terms used in this Agreement have the
meanings assigned to them in Section 1 below. 
 RECITALS 

The Company, the lenders and agents party thereto, and Jefferies Finance LLC, as arranger, book manager, administrative agent and
collateral agent, have entered into that certain Credit Agreement, dated as of the date hereof, providing for a revolving credit facility and term loan (as amended, restated, supplemented, modified, and subject to the terms hereof, replaced or
refinanced, from time to time, the “First Lien Credit Agreement”); 
 The Company has, pursuant to the Second
Lien Notes Indenture (as defined below), issued the Second Lien Notes; 
 Pursuant to (i) the First Lien Credit Agreement,
the Company has agreed to cause certain current and future Subsidiaries (the “Subsidiary Guarantors”) to guaranty the First Lien Obligations (the “First Lien Guaranty”); and (ii) the Second Lien Notes
Indenture, the Company has agreed to cause each Subsidiary Guarantor to guaranty the Second Lien Obligations (each a “Second Lien Guaranty”); 
 The First Lien Loan Documents and the Second Lien Documents provide, among other things, that the parties thereto shall set forth in this Agreement their respective rights and remedies with respect to the
Collateral; and 
 In order to induce the First Lien Collateral Agent and the First Lien Claimholders to consent to the Grantors
incurring the Second Lien Obligations and to induce the First Lien Claimholders to extend credit and other financial accommodations and lend monies to or for the benefit of the Company or any other Grantor, the Second Lien Collateral Agent on behalf
of the Second Lien Claimholders has agreed to the intercreditor and other provisions set forth in this Agreement. 

AGREEMENT 
 In consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the
parties hereto, intending to be legally bound, hereby agree as follows: 
 SECTION 1 Definitions. 

1.1 Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 

“Accession Agreement” means an accession agreement, if any, to the Second Lien Security Documents, in substantially the
form provided in one or more of such documents, entered into by the Company, the other Grantors, the trustee, agent or other representative for the holders of the applicable Pari Passu Indebtedness and the Second Lien Collateral Agent. 

 “Additional Secured Parties” means, collectively, the agent, trustee or
other representative, if any, and any additional lenders or holders of Indebtedness identified in a Supplement to the Intercreditor Agreement or an Accession Agreement. 
 “Affiliate” means, when used 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; provided, however, that in no event shall Jefferies Finance LLC or any of its Affiliates be considered an Affiliate of the Company or any of its Subsidiaries. 

“Agreement” has the meaning assigned to that term in the Preamble to this Agreement. 

“Bankruptcy Code” means Title 11 of the United States Code entitled “Bankruptcy,” as now and hereafter in
effect, or any successor statute. 
 “Bankruptcy Law” means the Bankruptcy Code and all other insolvency,
bankruptcy, receivership, liquidation, conservatorship, assignment for the benefit of creditors, moratorium, rearrangement, reorganization, or similar Legal Requirements of the United States or other applicable jurisdictions from time to time in
effect and affecting the rights of creditors generally. 
 “Business Day” means any day other than a Saturday,
Sunday or other day on which banks in New York City are authorized or required by law to close. 
 “Cash
Collateral” has the meaning set forth in Section 6.1(a). 
 “Collateral” means collectively, both
First Lien Collateral and Second Lien Collateral, whether now or existing or hereafter acquired, pledged, or purported to be pledged as collateral or otherwise subject to a security interest or purported to be subject to a security interest under
any First Lien Security Document or Second Lien Security Document including any property subject to Liens granted pursuant to Section 6 to secure both First Lien Obligations and Second Lien Obligations. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and
any successor statute. 
 “Company” has the meaning assigned to that term in the Preamble to this Agreement.

 “Comparable Second Lien Security Document” means, in relation to any Collateral subject to any Lien created
under any First Lien Security Document, the Second Lien Document that creates a Lien on the same Collateral, granted by the same Grantor. 
 “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, and the terms “Controlling” and “Controlled” shall have meanings correlative thereto. 
 “DIP Financing” has the meaning assigned to that term in Section 6.1(a). 

  
 I-2

 “Discharge of First Lien Obligations” means, except to the extent otherwise
expressly provided in Section 5.6: 
 (a) payment in full in cash of the principal of and interest (including interest
accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest would be allowed in such Insolvency or Liquidation Proceeding) on all Indebtedness outstanding under the First Lien Loan Documents to the
extent constituting First Lien Obligations; 
 (b) payment in full in cash of all Hedging Obligations constituting First Lien
Obligations or the cash collateralization (or other backstopping) of all such Hedging Obligations on terms satisfactory to each applicable counterparty and the expiration or termination of all outstanding transactions under First Lien Hedging
Agreements relating thereto; 
 (c) payment in full in cash of all other First Lien Obligations that are due and payable or
otherwise accrued and owing at or prior to the time such principal and interest are paid (other than any indemnification Obligations for which no claim or demand for payment, whether oral or written, has been made at such time); 

(d) termination or expiration of all commitments, if any, to extend credit that would constitute First Lien Obligations; and 

(e) termination or cash collateralization (or other backstopping by a letter of credit) (in either case, in an amount and manner
(including, if applicable, by an issuing bank) reasonably satisfactory to the First Lien Collateral Agent, but in no event greater than 103% of the aggregate undrawn face amount) of all letters of credit issued under the First Lien Loan Documents
and constituting First Lien Obligations. 
 “Disposition” means, with respect to any property, any sale, lease,
sale and leaseback, assignment (other than any collateral assignment), conveyance, transfer or other disposition thereof. The terms “Dispose” and “Disposed of” shall have correlative meanings. 

“ECP” has the meaning assigned to that term in the definition of “Excluded Swap Obligation.” 

“Enforcement Action” means any action to: 
 (a) foreclose, execute, levy, or collect on, take possession or control of (other than taking “possession” for the sole purpose of perfecting a Lien on Collateral), sell or otherwise realize
upon (judicially or non-judicially), or lease, license, or otherwise dispose of (whether publicly or privately), Collateral or Restricted Assets, or otherwise exercise or enforce remedial rights with respect to Collateral or Restricted Assets under
the First Lien Loan Documents or the Second Lien Documents (including by way of setoff, recoupment, notification of a public or private sale or other disposition pursuant to the UCC or other applicable law, notification to account debtors,
notification to depositary banks under deposit account control agreements, or exercise of rights under landlord consents, if applicable); 
 (b) solicit bids from third Persons, approve bid procedures for any proposed disposition of Collateral or Restricted Assets, to conduct the liquidation or disposition of Collateral or Restricted Assets or
engage or retain sales brokers, marketing agents, investment bankers, accountants, appraisers, auctioneers, or other third Persons for the purposes of valuing, marketing, promoting, and selling Collateral or Restricted Assets; 

  
 I-3

 (c) receive a transfer of Collateral or Restricted Assets in satisfaction of Indebtedness or
any other Obligation secured thereby; 
 (d) otherwise enforce a security interest or exercise another right or remedy, as a
secured creditor or otherwise, pertaining to the Collateral or Restricted Assets at law, in equity, or pursuant to the First Lien Loan Documents or Second Lien Documents (including the commencement of applicable legal proceedings or other actions
with respect to all or any portion of the Collateral or Restricted Assets to facilitate the actions described in the clauses (a) through (e) of this definition, and exercising voting rights in respect of Equity Interests comprising
Collateral or Restricted Assets); or 
 (e) effect the Disposition of Collateral or Restricted Assets by any Grantor after the
occurrence and during the continuation of an “event of default” under the First Lien Loan Documents or the Second Lien Documents with the consent of the First Lien Collateral Agent or the Second Lien Collateral Agent (as directed, in the
case of the Second Lien Collateral Agent, by the Instructing Group), as applicable; 
 provided that an Enforcement Action will not be
deemed to include the commencement of, or joinder in filing of a petition for commencement of, an Insolvency or Liquidation Proceeding. 
 “Equity Interest” means, with respect to any Person, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents, including membership
interests (however designated, whether voting or nonvoting), of equity of such Person, including, if such Person is a partnership, partnership interests (whether general or limited), or if such Person is a limited liability company, membership
interests and any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of property of, such partnership, whether outstanding on the date hereof or issued on or after the
date of this Agreement, but excluding debt securities convertible or exchangeable into such equity. 
 “Excess First
Lien Obligations” means any Obligations that would constitute First Lien Obligations if not for the First Lien Cap Amount. 
 “Excess Second Lien Obligations” means any Obligations that would constitute Second Lien Obligations if not for the Second Lien Cap Amount. 

“Excluded Swap Obligations” means, with respect to any Subsidiary Guarantor, any Swap Obligation if, and to the extent
that, all or a portion of the guarantee of such Subsidiary Guarantor of, or the grant by such Subsidiary Guarantor of a security interest to secure, such Swap Obligation (or any guarantee thereof) is or becomes illegal under the Commodity Exchange
Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Subsidiary Guarantor’s failure for any reason to constitute an “eligible
contract participant” as defined in the Commodity Exchange Act (each, an “ECP”) and the regulations thereunder at the time the guarantee of such Subsidiary Guarantor or the grant of such security interest becomes effective with
respect to such Swap Obligation. If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such guarantee or
security interest is or becomes illegal. 
 “First Lien Cap Amount” means the maximum principal amount of
Indebtedness permitted to be secured by a Lien at the time of incurrence thereof pursuant to clause (1) of the definition of “Permitted Liens” under (and as defined in) the Second Lien Notes Indenture (as in effect on the date hereof)
or such greater amount that is expressly permitted at the time of incurrence thereof under the Second Lien Notes Indenture. 

  
 I-4

 “First Lien Claimholders” means, at any relevant time, the holders of First
Lien Obligations at that time, including the First Lien Lenders, the First Lien Collateral Agent, the other agents under the First Lien Loan Documents, the issuing lenders under the First Lien Credit Agreement and each First Lien Lender
Counterparty. 
 “First Lien Collateral” means, collectively, all of the Guarantee and Collateral Agreement
Collateral (as defined in the First Lien Credit Agreement), each Mortgaged Property (if any, as defined in the First Lien Credit Agreement) and all other property of whatever kind and nature, whether now existing or hereafter acquired, pledged or
purported to be pledged as collateral or otherwise subject to a security interest or purported to be subject to a security interest under any First Lien Security Document. 
 “First Lien Collateral Agent” has the meaning assigned to that term in the Preamble to this Agreement. 
 “First Lien Credit Agreement” has the meaning assigned to that term in the Recitals to this Agreement. 
 “First Lien Guarantee and Collateral Agreement” means the Guarantee and Collateral Agreement, as such term is defined in the First Lien Credit Agreement. 

“First Lien Guaranty” has the meaning assigned to that term in the Recitals to this Agreement. 

“First Lien Hedging Agreement” means a Hedging Agreement entered into with a First Lien Lender Counterparty. 

“First Lien Lenders” means the “Lenders” under and as defined in the First Lien Loan Documents. 

“First Lien Lender Counterparty” means each counterparty to a Hedging Agreement if (i) at the date of entering into
such Hedging Agreement, such counterparty was an Agent, a Lender or an Affiliate of an Agent or Lender (each, as defined in the First Lien Credit Agreement) and (ii) such counterparty complied with the terms applicable to it under the First
Lien Credit Agreement. 
 “First Lien Loan Documents” means the First Lien Credit Agreement and the Loan
Documents (as defined in the First Lien Credit Agreement) and each of the other agreements, documents and instruments providing for or evidencing any other First Lien Obligation (including each First Lien Hedging Agreement), and any other document
or instrument executed or delivered at any time in connection with any First Lien Obligations, including any intercreditor or joinder agreement among holders of First Lien Obligations, to the extent such are effective at the relevant time, as each
may be amended, restated, supplemented, modified, renewed or extended from time to time in accordance with the provisions of this Agreement. 
 “First Lien Obligations” means, subject to clause (c) hereof, the following: 
 (a) all obligations of the Company and the other Grantors from time to time arising under or in respect of the due and punctual payment of (i) the principal of and premium, if any, and interest
(including any Post-Petition Interest) on the loans made pursuant to and under the First Lien Credit Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment
required to be made by the Company and the other Grantors 

  
 I-5

 
under the First Lien Credit Agreement in respect of any letter of credit, when and as due, including payments in respect of Reimbursement Obligations (as defined in the First Lien Credit
Agreement), interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations and liabilities of any kind, including fees, costs, expenses and indemnities, whether primary, secondary, direct, contingent, fixed
or otherwise (including monetary obligations accrued or incurred during the pendency of any Insolvency or Liquidation Proceeding regardless of whether allowed or allowable in any such Insolvency or Liquidation Proceeding) of the Company and the
other Grantors under the First Lien Loan Documents (including each First Lien Hedging Agreement); provided, however, the term “First Lien Obligations” shall not include Excluded Swap Obligations; 

(b) to the extent any payment with respect to any First Lien Obligation (whether by or on behalf of any Grantor, as proceeds of security,
enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Lien Claimholders, receiver or similar Person, then the
obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Lien Claimholders and the Second Lien Claimholders, be deemed to be reinstated and outstanding as if
such payment had not occurred. To the extent that any interest, fees, expenses or other charges (including Post-Petition Interest) to be paid pursuant to the First Lien Loan Documents are disallowed by order of any court, including, without
limitation, by order of a court of competent jurisdiction presiding over an Insolvency or Liquidation Proceeding, such interest, fees, expenses and charges (including Post-Petition Interest) shall, as between the First Lien Claimholders and the
Second Lien Claimholders, be deemed to continue to accrue and be added to the amount to be calculated as the “First Lien Obligations”; and 
 (c) notwithstanding the foregoing, if the sum of: (1) Indebtedness for borrowed money constituting principal outstanding under the First Lien Loan Documents (but excluding, for the avoidance of
doubt, any First Lien Hedging Agreements); plus (2) the aggregate face amount of any letters of credit issued but not reimbursed under the First Lien Credit Agreement, is in excess of the First Lien Cap Amount, then only that portion of
such Indebtedness and such aggregate face amount of letters of credit equal to the First Lien Cap Amount shall be included in First Lien Obligations and interest and reimbursement obligations with respect to such Indebtedness and letters of credit
shall only constitute First Lien Obligations to the extent related to such Indebtedness and face amounts of letters of credit included in the First Lien Obligations. 
 “First Lien Security Documents” means the Security Documents (as defined in the First Lien Credit Agreement) and any other agreement, document or instrument pursuant to which a Lien is
granted securing any First Lien Obligations or under which rights or remedies with respect to such Liens are governed. 

“Foreign Subsidiary” means a Subsidiary of the Company that is organized under the laws of a jurisdiction other than the
United States or any state thereof or the District of Columbia. 
 “GAAP” means generally accepted accounting
principles in the United States applied on a consistent basis. 
 “Governmental Authority” means any federal,
state, local or foreign (whether civil, administrative, criminal, military or otherwise) court, central bank or governmental agency, tribunal, authority, self-regulatory organization (including the Financial Industry Regulatory Authority, Inc. and
any comparable foreign equivalent thereof), exchange, instrumentality or regulatory body or any subdivision thereof (including the Securities and Exchange Commission and any comparable foreign equivalent thereof) or other entity exercising
executive, legislative, judicial, taxing, regulatory or 

  
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administrative powers of or pertaining to any government or any court, in each case whether associated with a state of the United States, the United States or a foreign entity or government
(including any supranational bodies such as the European Union or the European Central Bank). 
 “Grantors”
means the Company, each of the Subsidiary Guarantors and each other Person that has or may from time to time hereafter execute and deliver a First Lien Security Document or a Second Lien Security Document as a “grantor” or
“pledgor” (or the equivalent thereof). 
 “Hedging Agreement” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or
forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, currency swap transactions, cross-currency rate swap transactions, currency options, cap transactions, floor
transactions, collar transactions, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options or warrants to enter into any of the foregoing), whether or not any such transaction is governed
by, or otherwise subject to, any master agreement or any netting agreement, and (b) any and all transactions or arrangements of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form
of master agreement (or similar documentation) published from time to time by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such agreement or
documentation, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 
 “Hedging Obligation” of any Person means any obligation of such Person pursuant to any First Lien Hedging Agreement. 

“Indebtedness” means and includes all Obligations that constitute “Indebtedness” within the meaning of the
First Lien Credit Agreement or the Second Lien Notes Indenture, as applicable; for the avoidance of doubt “Indebtedness” shall not include Hedging Obligations. 
 “Indenture Documents” means the Second Lien Notes, the Second Lien Notes Indenture, the Second Lien Guaranties and the Second Lien Security Documents relating thereto. 

“Insolvency or Liquidation Proceeding” means (i) any case, action or proceeding before any court or other
Governmental Authority (whether voluntary or involuntary) relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (ii) any general assignment for the benefit of creditors,
formal or informal moratorium, composition, marshaling of assets for creditors or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors, in each case, undertaken under United States federal or
state or non-United States Legal Requirements, including the Bankruptcy Code. 
 “Instructing Group” has the
meaning assigned to that term in the Second Lien Documents. 
 “Legal Requirements” means, as to any Person,
the Organizational Documents of such Person, and any treaty, law (including the common law), statute, ordinance, code, rule, regulation, guidelines, license, permit requirement, judgment, decree, verdict, order, consent order, consent decree, writ,
declaration or injunction or determination of an arbitrator or a court or other Governmental Authority, and the interpretation or administration thereof, in each case applicable to or binding upon such Person or any of its property or to which such
Person or any of its property is subject, in each case whether or not having the force of law. 

  
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 “Lien” means any mortgage, pledge, hypothecation, collateral assignment,
deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever in the nature of a security interest
(including any conditional sale or other title retention agreement and any capital lease having substantially the same economic effect as any of the foregoing). 
 “Maximum Pari Passu Indebtedness Amount” means the maximum aggregate principal amount of Indebtedness provided under a Supplement to the Intercreditor Agreement, which is permitted under
the First Lien Credit Agreement at the time of the execution and delivery of such Supplement to the Intercreditor Agreement. 

“New Agent” has the meaning assigned to that term in Section 5.6. 

“New First Lien Debt Notice” has the meaning assigned to that term in Section 5.6. 

“Obligations” means all obligations of every nature of each Grantor from time to time owed to the First Lien
Claimholders, the Second Lien Claimholders or any of them or their respective Affiliates under the First Lien Loan Documents or the Second Lien Documents, whether for principal, premium, reimbursements for letters of credit (or obligations to cash
collateralize letters of credit), interest or payments for early termination of Hedging Agreements, fees, expenses, indemnification or otherwise and all guarantees of any of the foregoing and including any interest, fees or expenses that accrue
after the commencement by or against any Person of any proceeding under any Bankruptcy Law naming such Person as the debtor in such proceeding, regardless of whether such interest and fees are allowed claims in such proceeding; provided,
however, the term “Obligations” shall not include any Excluded Swap Obligations. 
 “Organizational
Documents” means, with respect to any Person, (a) in the case of any corporation, the certificate of incorporation, articles of incorporation or deed of incorporation and by-laws (or similar documents) of such Person, (b) in the
case of any limited liability company, the certificate or articles of formation or organization and operating agreement or memorandum and articles of association (or similar constituent documents) of such Person, (c) in the case of any limited
partnership, the certificate of formation and limited partnership agreement (or similar constituent documents) of such Person (and, where applicable, the equityholders or shareholders registry of such Person), (d) in the case of any general
partnership, the partnership agreement (or similar constituent document) of such Person, (e) in any other case, the functional equivalent of the foregoing, and (f) any shareholder, voting trust or similar agreement between or among any
holders of Equity Interests of such Person. 
 “Pari Passu Agent” shall have the meaning assigned to that term
in Section 2.5. 
 “Pari Passu Indebtedness” means any Indebtedness (1) that is permitted to be
incurred under Section [4.10] of the Second Lien Notes Indenture (but only so long as such Indebtedness is otherwise permitted to be incurred at such time under the First Lien Credit Agreement), (2) that is secured on a pari passu (and for the
avoidance of doubt, not a junior or subordinated) basis with the Second Lien Notes and the Second Lien Guaranties relating to such Second Lien Notes, as applicable, by a Permitted Lien described in clause (15) of the definition of Permitted
Liens in the Second Lien Notes Indenture (as in effect on the date hereof), and (3) the aggregate principal amount of which does not at any time exceed the Maximum Pari Passu Indebtedness Amount; provided that (i) such Indebtedness is so
designated as Pari Passu Indebtedness in an Officers’ Certificate (as defined in the Second Lien Notes Indenture) delivered to the Second Lien Collateral Agent and (ii) the Pari Passu Agent for the holders of such Indebtedness shall have
executed and delivered a Supplement to the Intercreditor Agreement and an Accession Agreement. 

  
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 “Pari Passu Payment Lien Documents” means any indenture, purchase
agreement, loan agreement or similar agreement relating to the Pari Passu Indebtedness and related documents identified in a Supplement to the Intercreditor Agreement. 
 “Pay-Over Amount” has the meaning assigned to that term in Section 6.3. 
 “Person” means any natural person, corporation, business trust, joint venture, trust, association, company (whether limited in liability or otherwise), partnership (whether limited in
liability or otherwise) or Governmental Authority, or any other entity, in any case, whether acting in a personal, fiduciary or other capacity. 
 “Pledged Collateral” has the meaning set forth in Section 5.5(a). 
 “Post-Petition Interest” means interest, fees, expenses and other charges that, pursuant to the First Lien Credit Agreement or the Second Lien Notes Indenture, continue to accrue after
the commencement of any Insolvency or Liquidation Proceeding, whether or not such interest, fees, expenses and other charges are allowed or allowable under the Bankruptcy Law or in any such Insolvency or Liquidation Proceeding. 

“Purchase Price” has the meaning set forth in Section 5.7. 

“Real Property” means, collectively, all right, title and interest (including any leasehold, fee, mineral or other
estate) in and to any and all parcels of or interests in real property owned, leased or operated by any Person, whether by lease, license or other means, together with, in each case, all easements, hereditaments and appurtenances relating thereto,
and all improvements and appurtenant fixtures and equipment. 
 “Recovery” has the meaning set forth in
Section 6.5. 
 “Refinance” means, in respect of any Indebtedness, to refinance, extend, renew, defease,
amend, modify, supplement, restructure, replace, refund or repay, or to issue other indebtedness, in exchange or replacement for, such Indebtedness in whole or in part. “Refinanced” and “Refinancing” shall have
correlative meanings. 
 “Restricted Assets” means all licenses, permits, franchises, approvals or other
authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company or any Subsidiary Guarantor to the extent the same constitute “Excluded Property” under (and as defined in) the First Lien
Guarantee and Collateral Agreement and the Second Lien Security Documents. 
 “Sale Proceeds” means
(i) the proceeds from the sale of the Company or one or more of the Grantors as a going concern or from the sale of Restricted Assets as a going concern, (ii) the proceeds from another sale or disposition of (x) any assets of the
Grantors that includes any Restricted Assets, (y) any assets of the Grantors that benefit from any Restricted Assets or (z) where the assets sold have the benefit of any Restricted Assets, or (iii) any other economic value (whether in
the form of cash or otherwise) received or distributed that is associated with the Restricted Assets. 
 “Second Lien
Adequate Protection Payments” has the meaning assigned to that term in Section 6.3. 

  
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 “Second Lien Cap Amount” means $305,000,000 in the aggregate or such
greater amount at the time of incurrence thereof that is expressly permitted under the First Lien Credit Agreement. 

“Second Lien Claimholders” means, at any relevant time, the holders of Second Lien Obligations at that time, including
the Second Lien Noteholders, the Second Lien Collateral Agent, the Second Lien Notes Trustee and the Additional Secured Parties, if any. 
 “Second Lien Collateral” means collectively, all of the Collateral (as defined in the Second Lien Notes Indenture). 

“Second Lien Collateral Agent” has the meaning set forth in the Preamble of this Agreement. 

“Second Lien Documents” means the Indenture Documents and the Pari Passu Payment Lien Documents. 

“Second Lien Guaranty” has the meaning assigned to that term in the Recitals to this Agreement. 

“Second Lien Noteholders” means the Person or Persons in whose name the Second Lien Notes are registered in accordance
with the Second Lien Notes Indenture. 
 “Second Lien Notes” means the Company’s 8.250% Second Lien Notes
due June 15, 2018, issued pursuant to the Second Lien Notes Indenture. 
 “Second Lien Notes Indenture”
means the Indenture, dated as June 5, 2013, by and among the Company, as issuer, the Subsidiaries of the Company that are guarantors party thereto and the Second Lien Notes Trustee. 

“Second Lien Notes Trustee” means BNYM in its capacity as trustee pursuant to the Second Lien Documents and any
successor appointed in accordance with the Second Lien Documents. 
 “Second Lien Obligations” means
(a) all Obligations (including Post-Petition Interests) outstanding under the Second Lien Documents; and 
 (b)
notwithstanding the foregoing, if Indebtedness for borrowed money constituting principal outstanding under the Second Lien Documents is in excess of the Second Lien Cap Amount, then only that portion of such Indebtedness equal to the Second Lien Cap
Amount shall be included in Second Lien Obligations and interest with respect to such Indebtedness shall only constitute Second Lien Obligations to the extent related to such Indebtedness included in the Second Lien Obligations. 

“Second Lien Security Documents” means the security agreements, pledge agreements, mortgages and other security
documents entered into pursuant to the Second Lien Notes Indenture and other Second Lien Documents in which Liens are granted on the Collateral to the Second Lien Collateral Agent for its benefit and the benefit of the Second Lien Claimholders.

 “Short Fall” has the meaning assigned to that term in Section 6.3. 

“Standstill Period” has the meaning set forth in Section 3.1(a)(i). 

  
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 “Subsidiary” means, with respect to any Person (the “parent”) at
any date, (a) any Person 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,
(b) any other corporation, limited liability company, association or other business entity of which securities or other ownership interests representing more than 50% of the voting power of all equity interests entitled (without regard to the
occurrence of any contingency) to vote in the election of the board of directors thereof are, as of such date, owned, controlled or held by the parent and/or one or more subsidiaries of the parent, (c) any partnership (i) the sole general
partner or the managing general partner of which is the parent and/or one or more subsidiaries of the parent or (ii) the only general partners of which are the parent and/or one or more subsidiaries of the parent and (d) any other Person
that is otherwise Controlled by the parent and/or one or more subsidiaries of the parent. 
 “Subsidiary
Guarantors” has the meaning set forth in the Recitals to this Agreement. 
 “Supplement to the Intercreditor
Agreement” means a supplement, if any, to this Agreement, in substantially the form of Annex A attached hereto, entered into by the Company, the other Grantors, the Pari Passu Agent, the First Lien Collateral Agent and the Second Lien
Collateral Agent. 
 “Swap Obligation” means, with respect to any Subsidiary Guarantor, any Hedging Obligation
to pay or perform under any agreement, contract or transaction that constitutes a “swap” within the meaning of section 1a(47) of the Commodity Exchange Act. 
 “UCC” means the Uniform Commercial Code as in effect from time to time (except as otherwise specified) in any applicable state or jurisdiction. 

1.2 Terms Generally. The definitions of terms in this Agreement 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, restated, supplemented, modified, renewed or extended; 

(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 Sections shall be
construed to refer to Sections of this Agreement; 
 (e) all references to “knowledge” in this Agreement refers to the
actual knowledge (after reasonable inquiry) of such Person making such certification; 
 (f) any reference to any law or
regulation shall (i) include all statutory and regulatory provisions consolidating, amending, replacing or interpreting or supplementing such law or regulation, and (ii) unless otherwise specified, refer to such law or regulation as
amended, modified or supplemented from time to time; and 

  
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 (g) 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 2 Lien Priorities. 
 2.1 Relative Priorities.
Notwithstanding the date, time, method, manner or order of grant, attachment or perfection of any Liens securing the Second Lien Obligations granted on the Collateral or of any Liens securing the First Lien Obligations granted on the Collateral and
notwithstanding any provision of the UCC, or any other applicable law or the Second Lien Documents or any defect or deficiencies in, or failure to perfect or lapse in perfection of, or avoidance as a fraudulent conveyance or otherwise of, the Liens
securing the First Lien Obligations or any other circumstance whatsoever, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, the Second Lien Collateral Agent, on behalf of
itself and the Second Lien Claimholders, hereby agrees that: 
 (a) any Lien on the Collateral securing any First Lien
Obligations now or hereafter held by or on behalf of the First Lien Collateral Agent or any First Lien Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law, subrogation or
otherwise, shall be senior and prior in all respects to any Lien on the Collateral securing any Second Lien Obligations; 
 (b)
any Lien on the Collateral securing any Second Lien Obligations now or hereafter held by or on behalf of the Second Lien Collateral Agent, any Second Lien Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant,
possession, statute, operation of law, subrogation or otherwise, shall be junior and subordinate in all respects to all Liens on the Collateral securing any First Lien Obligations. All Liens on the Collateral securing any First Lien Obligations
shall be and remain senior and prior in all respects to any Lien on the Collateral securing any Second Lien Obligations for all purposes, whether or not such Liens securing any First Lien Obligations are subordinated to any Lien securing any other
obligation of the Company, any other Grantor or any other Person; and 
 (c) any Lien on the Collateral securing any Excess
First Lien Obligations now or hereafter held by or on behalf of the First Lien Collateral Agent, any First Lien Claimholders or any agent or trustee therefor, regardless of how acquired, whether by grant, possession, statute, operation of law,
subrogation or otherwise, shall be junior and subordinate in all respects to any Lien on the Collateral securing any Second Lien Obligations up to but not exceeding the Second Lien Cap Amount (but only with respect to such excess amounts). All Liens
securing Excess First Lien Obligations will be senior in all respects and prior to any Lien on the Collateral securing any Excess Second Lien Obligations and all Liens securing any Excess Second Lien Obligations will be junior and subordinate in all
respects and prior to any Lien securing Excess First Lien Obligations. 
 The subordination of Liens securing Second Lien
Obligations to Liens securing First Lien Obligations in this Agreement affects only the relative priority of those Liens, and does not subordinate the Second Lien Obligations in right of payment to the First Lien Obligations. Nothing in this
Agreement will affect the entitlement of any Second Lien Claimholder to receive and retain required payments of interest, principal, and other amounts in respect of a Second Lien Obligation unless the receipt (i) is expressly prohibited by, or
results from the Second Lien Claimholder’s breach of, this Agreement or (ii)

  
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is the direct or indirect result of the exercise by the Second Lien Collateral Agent or any Second Lien Claimholders of rights or remedies as a secured creditor (including set-off and recoupment)
or enforcement in contravention of this Agreement of any Lien held by any of them. 
 2.2 Prohibition on Contesting
Liens; No Marshalling. Each of the Second Lien Collateral Agent, for itself and on behalf of each Second Lien Claimholder, and the First Lien Collateral Agent, for itself and on behalf of each First Lien Claimholder, agrees that it will not (and
hereby waives any right to) directly or indirectly contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the priority, validity, perfection, extent or enforceability of a Lien
held, or purported to be held, by or on behalf of any of the First Lien Claimholders in the First Lien Collateral or by or on behalf of any of the Second Lien Claimholders in the Second Lien Collateral, as the case may be, or the provisions of this
Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of the First Lien Collateral Agent or any First Lien Claimholder to enforce this Agreement, including the provisions of this Agreement
relating to the priority of the Liens securing the First Lien Obligations as provided in Sections 2.1 and 3.1. Until the Discharge of First Lien Obligations, neither the Second Lien Collateral Agent nor any Second Lien Claimholder will assert (and
the Second Lien Collateral Agent and any Second Lien Claimholder hereby waives any right to assert) any marshaling, appraisal, valuation or other similar right that may otherwise be available to a junior secured creditor. 

2.3 No New Liens. So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or
Liquidation Proceeding has been commenced by or against the Company or any other Grantor, the parties hereto agree that the Company shall not, and shall not permit any other Grantor to: 

(a) grant or permit any additional Liens on any property to secure any Second Lien Obligation unless it has granted or concurrently
grants a Lien on such property to secure the First Lien Obligations, the parties hereto agreeing that any such Lien shall be subject to Section 2.1; or 
 (b) grant or permit any additional Liens on any property to secure any First Lien Obligations unless it has granted or concurrently grants a Lien on such property to secure the Second Lien Obligations;
provided that this provision will not be violated if the Second Lien Collateral Agent is given a reasonable opportunity to accept a Lien and declines in writing to accept a Lien on such property. 

To the extent that the foregoing provisions are not complied with for any reason, without limiting any other rights and remedies available to the First
Lien Collateral Agent and/or the First Lien Claimholders, the Second Lien Collateral Agent, on behalf of Second Lien Claimholders, agrees that any amounts received by or distributed to any of them pursuant to or as a result of Liens granted in
contravention of this Section 2.3 shall be subject to Section 4.2. 
 2.4 Similar Liens and Agreements.
The parties hereto agree that it is their intention that the First Lien Collateral and the Second Lien Collateral be identical. In furtherance of the foregoing and of Section 8.9, the parties hereto agree, subject to the other provisions of
this Agreement: 
 (a) upon request by the First Lien Collateral Agent or the Second Lien Collateral Agent, to cooperate in good
faith (and to direct their counsel to cooperate in good faith) from time to time in order to determine the specific items included in the First Lien Collateral and the Second Lien Collateral and the steps taken to perfect their respective Liens
thereon and the identity of the respective Persons obligated under the First Lien Loan Documents and the Second Lien Documents; and 

  
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 (b) that the documents and agreements creating or evidencing the First Lien Collateral and
the Second Lien Collateral and guarantees for the First Lien Obligations and the Second Lien Obligations, subject to Section 5.3(c) and the proviso to Section 2.3(b), shall be in all material respects the same forms of documents other than
with respect to the first lien and the second lien nature of the Obligations thereunder. 
 Notwithstanding the foregoing Sections 2.3 and 2.4,
(x) to the extent a second lien pledge of the Equity Interests of any Foreign Subsidiary is prohibited or otherwise unenforceable under local law of any jurisdiction outside the United States but a first lien pledge thereof is not so prohibited
or otherwise unenforceable, the First Lien Loan Documents may include a pledge of such Equity Interests and the Second Lien Documents may not include a pledge of such Equity Interests and, except to the extent held as a bailee or custodian or agent
by the First Lien Collateral Agent on behalf of the Second Lien Collateral Agent under Section 5.5, the Second Lien Collateral shall not include the Equity Interests of such Foreign Subsidiary and (y) it is understood by each of the
parties that to the extent that the First Lien Collateral Agent or the Second Lien Collateral Agent obtains a Lien on an asset (of a type that is not included in the types of assets included in the Collateral as of the date hereof or which would not
constitute Collateral without a grant of a security interest or Lien separate from the First Lien Loan Documents or Second Lien Documents, as applicable, as in effect immediately prior to obtaining such Lien on such asset) which the other party to
this Agreement elects in writing not to obtain after receiving prior written notice thereof, the Collateral securing the First Lien Loan Obligations and the Second Lien Loan Obligations will not be identical, and the provisions of the documents,
agreements and instruments evidencing such Liens also will not be substantively similar, and any such difference in the scope or extent of perfection with respect to the Collateral resulting therefrom are hereby expressly permitted by this
Agreement. 
 2.5 Pari Passu Payment Lien Obligations 

As a condition to either the Company or any other Grantor incurring any Pari Passu Indebtedness, (i) a Supplement to the
Intercreditor Agreement, identifying the proposed Indebtedness, the authorized representative of the lenders or holders providing such Indebtedness (the “Pari Passu Agent”) and the documents in connection with such Indebtedness,
shall be executed and delivered and (ii) the Pari Passu Agent shall enter into an Accession Agreement, pursuant to which such authorized representative shall agree to be bound by the terms and conditions of this Agreement and the Second Lien
Security Documents. 
 SECTION 3 Enforcement. 

3.1 Exercise of Remedies 
 (a) Until the Discharge of First Lien Obligations has occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, the Second Lien
Collateral Agent and the Second Lien Claimholders: 
 (i) will not commence or maintain, or seek to commence or
maintain, any Enforcement Action or otherwise exercise any rights or remedies with respect to the Collateral; provided that the Second Lien Collateral Agent may commence an Enforcement Action or otherwise exercise any or all such rights or
remedies after the passage of a period of at least 180 days has elapsed since the later of: (i) the date on which the Second Lien Collateral Agent declared the existence of any “Event of Default” under any Second Lien Documents and
demanded the repayment of all the principal amount of any Second Lien Obligations and (ii) the date on which the First Lien Collateral Agent received notice from the Second Lien Collateral

  
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Agent of such declarations of an “Event of Default” (the “Standstill Period”) (provided that the Second Lien Collateral Agent shall have given the First Lien
Collateral Agent at least 15 days written notice prior to such Enforcement Action, which notice may be given during the pendency of the applicable Standstill Period); provided, further, that notwithstanding anything herein to the contrary, in
no event shall the Second Lien Collateral Agent or any Second Lien Claimholder exercise any rights or remedies with respect to the Collateral if, notwithstanding the expiration of the Standstill Period, the First Lien Collateral Agent or First Lien
Claimholders shall have commenced and be diligently pursuing an Enforcement Action or other exercise of their rights or remedies (or shall have sought or requested relief or modification of the automatic stay or any other stay in an Insolvency or
Liquidation Proceeding to enable the commencement and pursuit thereof) in each case with respect to all or any material portion of the Collateral (prompt notice of such exercise to be given to the Second Lien Collateral Agent); 

(ii) will not contest, protest or object to any foreclosure proceeding or action brought by the First Lien Collateral
Agent or any First Lien Claimholder or any other exercise by the First Lien Collateral Agent or any First Lien Claimholder of any rights and remedies relating to the Collateral under the First Lien Loan Documents or otherwise; 

(iii) subject to their rights under clause (a)(i) above, will not object to the forbearance by the First Lien Collateral
Agent or the First Lien Claimholders from bringing or pursuing any foreclosure proceeding or action or any other exercise of any rights or remedies relating to the Collateral, in each case so long as any proceeds received by the First Lien
Collateral Agent in excess of those necessary to achieve a Discharge of First Lien Obligations are distributed in accordance with the UCC and other applicable law, subject to the relative priorities described herein; 

(iv) will not take or cause to be taken any action, the purpose or effect of which is to make any Lien in respect of any
Second Lien Obligation pari passu with or senior to, or give any Second Lien Claimholder any preference or priority relative to, the Liens with respect to the First Lien Obligations or the First Lien Claimholders; and 

(v) will not institute any suit or other proceeding or assert in any suit, Insolvency or Liquidation Proceeding or other
proceeding any claim against any First Lien Claimholder or First Lien Collateral Agent seeking damages from or other relief by way of specific performance, injunction or otherwise, with respect to, and no First Lien Claimholder or First Lien
Collateral Agent shall be liable to the Second Lien Collateral Agent or any Second Lien Claimholder for, any action taken or omitted to be taken by such First Lien Claimholder or First Lien Collateral Agent with respect to any Collateral or pursuant
to the First Lien Loan Documents. 
 (b) Until the Discharge of First Lien Obligations has occurred, whether or not any
Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, subject to Section 3.1(a)(i), the First Lien Collateral Agent and the First Lien Claimholders shall have the exclusive right to commence and
maintain an Enforcement Action or otherwise enforce rights, exercise remedies (including set-off, recoupment and the right to “credit bid” their debt, except that the Second Lien Collateral Agent shall have the “credit bid”
rights set forth in Section 3.1(c)(vi)), subject to Section 5.1, to make determinations regarding the release, disposition, or restrictions with respect to the Collateral without any consultation with or the consent of the Second Lien
Collateral Agent or any Second Lien Claimholder; provided that any proceeds received by the First Lien Collateral Agent in excess of those necessary to achieve a Discharge of First Lien Obligations are distributed in accordance with the UCC
and other applicable law, subject to the relative priorities described herein. In commencing or maintaining any Enforcement Action or otherwise exercising rights and remedies with respect to the

  
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Collateral, the First Lien Collateral Agent and the First Lien Claimholders may enforce the provisions of the First Lien Loan Documents and exercise remedies thereunder, all in such order and in
such manner as they may determine in the exercise of their sole discretion in compliance with any applicable law and without consultation with the Second Lien Collateral Agent or any Second Lien Claimholder and regardless of whether any such
exercise is adverse to the interest of any Second Lien Claimholder. Such exercise and enforcement shall include the rights of an agent appointed by them to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection
with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and of a secured creditor under Bankruptcy Laws of any applicable jurisdiction. 

(c) Notwithstanding the foregoing, the Second Lien Collateral Agent and any Second Lien Claimholder may: 

(i) file a claim or statement of interest with respect to the Second Lien Obligations; provided that an Insolvency
or Liquidation Proceeding has been commenced by or against the Company or any other Grantor; 
 (ii) take any
action (not adverse to the priority status of the Liens on the Collateral securing the First Lien Obligations, or the rights of any First Lien Collateral Agent or the First Lien Claimholders to exercise remedies in respect thereof) in order to
create, perfect, preserve or protect its Lien on the Collateral; 
 (iii) file any necessary responsive or
defensive pleadings in opposition to any motion, claim, adversary proceeding or other pleading made by any Person objecting to or otherwise seeking the disallowance of the claims of the Second Lien Claimholders, including any claims secured by the
Collateral, if any, in each case in accordance with the terms of this Agreement; 
 (iv) vote on any plan of
reorganization, arrangement, compromise or liquidation, file any proof of claim, make other filings and make any arguments and motions that are, in each case, in accordance with the terms of this Agreement, with respect to the Second Lien
Obligations and the Collateral; provided that no filing of any claim or vote, or pleading relating to such claim or vote, to accept or reject a disclosure statement, plan of reorganization, arrangement, compromise or liquidation, or any other
document, agreement or proposal similar to the foregoing by the Second Lien Collateral Agent or any Second Lien Claimholder may be inconsistent with the provisions of this Agreement; 

(v) exercise any of its rights or remedies with respect to the Collateral after the termination of the Standstill Period
to the extent permitted by Section 3.1(a)(i); and 
 (vi) bid for or purchase Collateral at any public,
private or judicial foreclosure upon such Collateral initiated by the First Lien Collateral Agent or any First Lien Claimholder, or any sale of Collateral during an Insolvency or Liquidation Proceeding; provided that such bid may not include
a “credit bid” in respect of any Second Lien Obligations unless the cash proceeds of such bid are otherwise sufficient to cause the Discharge of First Lien Obligations. 

The Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, agrees that it will not take or receive any
Collateral or any proceeds of Collateral in connection with the exercise of any right or remedy (including set-off and recoupment) with respect to any Collateral in its capacity as a creditor, unless and until the Discharge of First Lien Obligations
has occurred, except in connection with any foreclosure expressly permitted by Section 3.1(a)(i) to the extent the Second Lien Collateral Agent and Second Lien Claimholders are permitted to retain the proceeds thereof in accordance

  
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with Section 4.2 of this Agreement). Without limiting the generality of the foregoing, unless and until the Discharge of First Lien Obligations has occurred, except as expressly provided in
Sections 3.1(a), 6.3(b) and this Section 3.1(c), the sole right of the Second Lien Collateral Agent and the Second Lien Claimholders with respect to the Collateral is to hold a Lien on the Collateral pursuant to the Second Lien Security
Documents for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, after the Discharge of First Lien Obligations has occurred. 

(d) Subject to Sections 3.1(a) and (c) and Section 6.3(b): 

(i) the Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders, agrees that the Second
Lien Collateral Agent and the Second Lien Claimholders will not take any action that would hinder any exercise of remedies under the First Lien Loan Documents or is otherwise prohibited hereunder, including any sale, lease, exchange, transfer or
other disposition of the Collateral, whether by foreclosure or otherwise; 
 (ii) the Second Lien Collateral
Agent, for itself and on behalf of the Second Lien Claimholders, hereby waives any and all rights it or the Second Lien Claimholders may have as a junior lien creditor or otherwise to object to the manner in which the First Lien Collateral Agent or
the First Lien Claimholders seek to enforce or collect the First Lien Obligations or the Liens securing the First Lien Obligations granted in any of the First Lien Collateral undertaken in accordance with this Agreement, regardless of whether any
action or failure to act by or on behalf of the First Lien Collateral Agent or First Lien Claimholders is adverse to the interest of the Second Lien Claimholders; and 

(iii) the Second Lien Collateral Agent hereby acknowledges and agrees that no covenant, agreement or restriction
contained in the Second Lien Security Documents or any other Second Lien Document (other than this Agreement) shall be deemed to restrict in any way the rights and remedies of the First Lien Collateral Agent or the First Lien Claimholders with
respect to the Collateral as set forth in this Agreement and the First Lien Loan Documents. 
 (e) To the extent not
inconsistent with the terms of this Agreement, the Second Lien Collateral Agent and the Second Lien Claimholders may exercise rights and remedies as unsecured creditors against the Company or any other Grantor that has guaranteed or granted Liens to
secure the Second Lien Obligations in accordance with the terms of the Second Lien Documents and applicable law (other than initiating or joining in an involuntary case or proceeding under any Insolvency or Liquidation Proceeding with respect to any
Grantor); provided that in the event that any Second Lien Claimholder becomes a judgment Lien creditor in respect of Collateral as a result of its enforcement of its rights as an unsecured creditor with respect to the Second Lien Obligations,
such judgment Lien shall be subject to the terms of this Agreement for all purposes (including in relation to the First Lien Obligations) as the other Liens securing the Second Lien Obligations are subject to this Agreement. 

(f) Except as specifically set forth in Sections 3.1(a) and (d), nothing in this Agreement shall prohibit the receipt by the Second Lien
Collateral Agent or any Second Lien Claimholders of the required payments of interest, principal, premium, fees and other amounts owed in respect of the Second Lien Obligations so long as such receipt is not the direct or indirect result of the
exercise by the Second Lien Collateral Agent or any Second Lien Claimholders of rights or remedies as a secured creditor (including set-off and recoupment) or enforcement in contravention of this Agreement of any Lien held by any of them. Nothing in
this Agreement shall impair or otherwise adversely affect any rights or remedies the First Lien Collateral Agent or the First Lien Claimholders may have with respect to the First Lien Collateral. 

  
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 3.2 Actions Upon Breach; Specific Performance. If any Second Lien Claimholder,
in contravention of the terms of this Agreement, in any way takes, attempts to or threatens to take any action with respect to the Collateral (including, without limitation, any attempt to realize upon or enforce any remedy with respect to this
Agreement), or fails to take any action required by this Agreement, this Agreement shall create an irrebutable presumption and admission by such Second Lien Claimholder that relief against such Second Lien Claimholder by injunction, specific
performance and/or other appropriate equitable relief is necessary to prevent irreparable harm to the First Lien Claimholders, it being understood and agreed by the Second Lien Collateral Agent on behalf of each Second Lien Claimholder that
(i) the First Lien Claimholders’ damages from its actions may at that time be difficult to ascertain and may be irreparable, and (ii) each Second Lien Claimholder waives any defense that the Grantors and/or the First Lien Claimholders
cannot demonstrate damage and/or be made whole by the awarding of damages. Each of the First Lien Collateral Agent and the Second Lien Collateral Agent may demand specific performance of this Agreement. The First Lien Collateral Agent, on behalf of
itself and the First Lien Claimholders under the First Lien Loan Documents, and the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, hereby irrevocably waive any defense based on the adequacy of a remedy at law and
any other defense which might be asserted to bar the remedy of specific performance in any action which may be brought by the First Lien Collateral Agent or the First Lien Claimholders or the Second Lien Collateral Agent or the Second Lien
Claimholders, as the case may be. No provision of this Agreement shall constitute or be deemed to constitute a waiver by the First Lien Collateral Agent on behalf of itself and the First Lien Claimholders or the Second Lien Collateral Agent on
behalf of itself and the Second Lien Claimholders of any right to seek damages from any Person in connection with any breach or alleged breach of this Agreement. 
 SECTION 4 Payments. 
 4.1 Application of Proceeds. So
long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, any Collateral or any proceeds thereof, Restricted Assets or
any proceeds thereof, or Sale Proceeds received in connection with any Enforcement Action or other exercise of remedies by the First Lien Collateral Agent or First Lien Claimholders, shall be applied: first, by the First Lien Collateral Agent
to the First Lien Obligations that are not Excess First Lien Obligations in such order as specified in the relevant First Lien Loan Documents; second, to the payment by the Second Lien Collateral Agent to the Second Lien Obligations that are
not Excess Second Lien Obligations in such order as specified in the relevant Second Lien Loan Documents; third, by the First Lien Collateral Agent to the payment of any Excess First Lien Obligations in such order as specified in the relevant
First Lien Loan Documents; fourth, by the Second Lien Collateral Agent to the payment of any Excess Second Lien Obligations in such order as specified in the relevant Second Lien Documents; and fifth, to the applicable Grantor or as
otherwise required by applicable law; provided that any non-cash Collateral or non-cash proceeds will be held by the First Lien Collateral Agent as Collateral unless the failure to apply such amounts would be commercially unreasonable. Upon
the Discharge of First Lien Obligations, the First Lien Collateral Agent shall deliver to the Second Lien Collateral Agent any Collateral and proceeds thereof, Restricted Assets and proceeds thereof and all Sale Proceeds held by it in the same form
as received, with any necessary endorsements to the Second Lien Collateral Agent, or as a court of competent jurisdiction may otherwise direct, to be applied by the Second Lien Collateral Agent to the Second Lien Obligations in such order as
specified in the Second Lien Security Documents. Without limiting the generality of the foregoing, it is the intention of the parties hereto that no amount of any Sale Proceeds will in any event be allocated to any Restricted Assets, and none of the
Second Lien Collateral Agent or Second Lien Claimholders will, in any forum (including in any Insolvency or Liquidation Proceeding) assert that any amount of any Sale Proceeds should be allocated to any Restricted Assets. 

  
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 4.2 Payments Over. 

(a) So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been
commenced by or against the Company or any other Grantor, any Collateral or any proceeds thereof, Restricted Assets or proceeds thereof and all Sale Proceeds (including assets or proceeds subject to Liens referred to in the final sentence of
Section 2.3 and any assets or proceeds subject to Liens that have been avoided or otherwise invalidated) received by the Second Lien Collateral Agent or any Second Lien Claimholders in connection with any Enforcement Action or other exercise of
any right or remedy relating to the Collateral or the Restricted Assets in contravention of this Agreement in all cases shall be segregated and held in trust and forthwith paid over to the First Lien Collateral Agent for the benefit of the First
Lien Claimholders in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct. The First Lien Collateral Agent is hereby authorized to make any such endorsements as agent for the Second
Lien Collateral Agent or any such Second Lien Claimholders. This authorization is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations. 
 (b) So long as the Discharge of First Lien Obligations has not occurred, whether or not any Insolvency or Liquidation Proceeding has been commenced by or against the Company or any other Grantor, any
Collateral or any proceeds thereof, Restricted Assets or any proceeds thereof and all Sale Proceeds (including assets or proceeds subject to Liens referred to in the final sentence of Section 2.3 and any assets or proceeds subject to Liens that
have been avoided or otherwise invalidated) received by the Second Lien Collateral Agent or any Second Lien Claimholders in connection with any Enforcement Action or other exercise of any right or remedy relating to the Collateral or the Restricted
Assets not in contravention of this Agreement shall be segregated and held in trust and forthwith paid over to the First Lien Collateral Agent for the benefit of the First Lien Claimholders in the same form as received, with any necessary
endorsements or as a court of competent jurisdiction may otherwise direct; provided that, with respect to Collateral, this Section 4.2(b) shall only be applicable if the exercise of such right or remedy by the Second Lien Collateral Agent or
any Second Lien Claimholder has the effect of discharging the Lien of the First Lien Collateral Agent on such Collateral. The First Lien Collateral Agent is hereby authorized to make any such endorsements as agent for the Second Lien Collateral
Agent or any such Second Lien Claimholders. This authorization is coupled with an interest and is irrevocable until the Discharge of First Lien Obligations. 
 (c) So long as the Discharge of First Lien Obligations has not occurred, if in any Insolvency or Liquidation Proceeding the Second Lien Collateral Agent or any Second Lien Claimholders shall receive any
distribution of money or other property in respect of the Collateral, Restricted Assets or Sale Proceeds (including any assets or proceeds subject to Liens that have been avoided or otherwise invalidated), such money or other property shall be
segregated and held in trust and forthwith paid over to the First Lien Collateral Agent for the benefit of the First Lien Claimholders in the same form as received, with any necessary endorsements. Any Lien received by the Second Lien Collateral
Agent or any Second Lien Claimholders in respect of any of the Second Lien Obligations in any Insolvency or Liquidation Proceeding shall be subject to the terms of this Agreement. 

4.3 Certain Agreements with respect to Unenforceable Collateral. 

In addition to the rights and obligations of the First Lien Collateral Agent, the Second Lien Collateral Agent, the First Lien
Claimholders and Second Lien Claimholders set forth herein, in the event that in any Insolvency or Liquidation Proceeding a determination is made that Liens of the First Lien Collateral Agent or the First Lien Claimholders encumbering any Collateral
are not enforceable for any reason, then the Second Lien Collateral Agent and the Second Lien Claimholders agree that, any distribution or recovery they may receive with respect to, or allocable to, the value of such Collateral or

  
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any proceeds thereof shall (for so long as the Discharge of First Lien Obligations has not occurred) be segregated and held in trust and forthwith paid over to the First Lien Collateral Agent for
the benefit of the First Lien Claimholders in the same form as received without recourse, representation or warranty (other than a representation of the Second Lien Collateral Agent that it has not otherwise sold, assigned, transferred or pledged
any right, title or interest in and to such distribution or recovery) but with any necessary endorsements or as a court of competent jurisdiction may otherwise direct until such time as the Discharge of First Lien Obligations has occurred. The First
Lien Collateral Agent is hereby authorized to make any such endorsements as agent for the Second Lien Collateral Agent or any such Second Lien Claimholders. This authorization is coupled with an interest and is irrevocable. 

SECTION 5 Other Agreements. 
 5.1 Releases. 
 (a) If in connection with any Enforcement Action by
the First Lien Collateral Agent or any other exercise of the First Lien Collateral Agent’s remedies in respect of the Collateral, in each case, prior to the Discharge of First Lien Obligations, the First Lien Collateral Agent, for itself or on
behalf of any of the First Lien Claimholders, releases any of its Liens on any part of the Collateral, then the Liens, if any, of the Second Lien Collateral Agent, for itself or for the benefit of the Second Lien Claimholders, on such Collateral
shall be automatically, unconditionally and simultaneously released. If in connection with any Enforcement Action or other exercise of rights and remedies by the First Lien Collateral Agent, in each case, prior to the Discharge of First Lien
Obligations, the equity interests of any Person are foreclosed upon or otherwise disposed of and the First Lien Collateral Agent releases its Lien on the property of such Person then the Liens of Second Lien Collateral Agent with respect to the
property of such Person will be automatically released to the same extent as the Liens of the First Lien Collateral Agent. The Second Lien Collateral Agent, for itself or on behalf of any such Second Lien Claimholders, promptly shall execute and
deliver to the First Lien Collateral Agent such termination statements, releases and other documents as the First Lien Collateral Agent may reasonably request to effectively confirm the foregoing releases. 

(b) If in connection with any Disposition permitted under the terms of the First Lien Loan Documents and not expressly prohibited under
the terms of the Second Lien Documents (other than in connection with an Enforcement Action or other exercise of the First Lien Collateral Agent’s remedies in respect of the Collateral which shall be governed by Section 5.1(a)), the First
Lien Collateral Agent, for itself or on behalf of any of the First Lien Claimholders, releases any of its Liens on any part of the Collateral, other than (i) in connection with, or following, the Discharge of First Lien Obligations and
(ii) after the occurrence and during the continuance of any “Event of Default” under the Second Lien Notes Indenture, then the Liens, if any, of the Second Lien Collateral Agent, for itself or for the benefit of the Second Lien
Claimholders, on such Collateral shall be automatically, unconditionally and simultaneously released. The Second Lien Collateral Agent, for itself or on behalf of any such Second Lien Claimholders, promptly shall execute and deliver to the First
Lien Collateral Agent such termination statements, releases and other documents as the First Lien Collateral Agent may reasonably request to effectively confirm such release. 
 (c) Until the Discharge of First Lien Obligations occurs, the Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders, hereby irrevocably constitutes and appoints the First
Lien Collateral Agent and any officer or agent of the First Lien Collateral Agent, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of the Second Lien
Collateral Agent or such holder or in the First Lien Collateral Agent’s own name, from time to time in the First Lien Collateral Agent’s discretion, for the purpose of carrying out the terms of this Section 5.1, to take any and all
appropriate action and to execute any and all 

  
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documents and instruments which may be necessary to accomplish the purposes of this Section 5.1, including any endorsements or other instruments of transfer or release. This power is coupled
with an interest and is irrevocable until the Discharge of First Lien Obligations. 
 (d) Until the Discharge of First Lien
Obligations occurs, to the extent that the First Lien Collateral Agent or the First Lien Claimholders (i) have released any Lien on Collateral and any such Liens are later reinstated or (ii) obtain any new liens, then the Second Lien
Collateral Agent, for itself and for the Second Lien Claimholders, shall be granted a Lien on any such Collateral, subject to the lien subordination provisions of this Agreement. 

5.2 Insurance. Unless and until the Discharge of First Lien Obligations has occurred, the First Lien Collateral Agent and
the First Lien Claimholders shall have the sole and exclusive right, subject to the rights of the Grantors under the First Lien Loan Documents, to adjust settlement for any insurance policy covering the Collateral in the event of any loss thereunder
and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral. Unless and until the Discharge of First Lien Obligations has occurred, and subject to the rights of the
Grantors under the First Lien Loan Documents, all proceeds of any such policy and any such award (or any payments with respect to a deed in lieu of condemnation) if in respect to the Collateral shall be paid to the First Lien Collateral Agent for
the benefit of the First Lien Claimholders pursuant to the terms of the First Lien Loan Documents (including for purposes of cash collateralization of letters of credit) and thereafter, to the extent no First Lien Obligations are outstanding, and
subject to the rights of the Grantors under the Second Lien Documents, to the Second Lien Collateral Agent for the benefit of the Second Lien Claimholders to the extent required under the Second Lien Security Documents and then, to the extent no
Second Lien Obligations are outstanding, to the owner of the subject property, such other Person as may be entitled thereto or as a court of competent jurisdiction may otherwise direct. Until the Discharge of First Lien Obligations has occurred, if
the Second Lien Collateral Agent or any Second Lien Claimholders shall, at any time, receive any proceeds of any such insurance policy or any such award or payment in contravention of this Agreement, it shall segregate and hold in trust and
forthwith pay such proceeds over to the First Lien Collateral Agent in accordance with the terms of Section 4.2. 
 5.3
Amendments to First Lien Loan Documents and Second Lien Documents. 
 (a) The First Lien Loan Documents may be
amended, supplemented or otherwise modified in accordance with their terms and the First Lien Credit Agreement may be Refinanced, in each case, without notice to, or the consent of, the Second Lien Collateral Agent or the Second Lien Claimholders,
all without affecting the lien subordination or other provisions of this Agreement; provided that the holders of such Refinancing debt bind themselves in a writing addressed to the Second Lien Collateral Agent to the terms of this Agreement
and any such amendment, supplement, modification or Refinancing shall not, without the consent of the Second Lien Collateral Agent (as directed, in the case of the Second Lien Collateral Agent, by the Instructing Group): 

(i) increase the sum of (A) the then outstanding aggregate principal amount of the Indebtedness for borrowed money
outstanding under the First Lien Credit Agreement (including, if any, any undrawn portion of any commitment under the First Lien Credit Agreement) and (B) the aggregate face amount of any letters of credit issued under the First Lien Credit
Agreement and not reimbursed, in excess of the First Lien Cap Amount; or 
 (ii) add to the Collateral securing
the First Lien Obligations other than as specifically provided by this Agreement; 

  
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 provided, however, that the Second Lien Collateral Agent shall have all the
rights and protections of the applicable Second Lien Documents when consenting to an amendment under this Section. 
 (b) Without
the prior written consent of the First Lien Collateral Agent, no Second Lien Document may be Refinanced, amended, restated, supplemented or otherwise modified or entered into to the extent such Refinancing, amendment, restatement, supplement or
modification, or the terms of any new Second Lien Document, would: 
 (i) increase the then outstanding principal
amount of the Second Lien Notes, in excess of the Second Lien Cap Amount; 
 (ii) increase the interest rate by
more than 300 basis points (excluding increases resulting from the accrual of interest at the default rate); 

(iii) accelerate any dates upon which a scheduled payment of principal or interest is due, or otherwise decreases the
weighted average life to maturity; 
 (iv) modify (or have the effect of a modification of) the mandatory
prepayment provisions of the Second Lien Notes Indenture in a manner materially adverse to the lenders under the First Lien Credit Agreement; 
 (v) increase the obligations of the obligor thereunder or to confer any additional material rights of the Second Lien Noteholders (or a representative on their behalf) which would be materially adverse to
the First Lien Collateral Agent or any other First Lien Claimholders; or 
 (vi) add to the Collateral securing
the Second Lien Obligations other than as specifically provided by this Agreement. 
 (c) In the event the First Lien Collateral
Agent or the First Lien Claimholders and the relevant Grantor enter into any amendment, waiver or consent in respect of any of the First Lien Security Documents for the purpose of adding to, or deleting from, or waiving or consenting to any
departures from any provisions of, any First Lien Security Document or changing in any manner the rights of the First Lien Collateral Agent in a manner not otherwise prohibited by this Section 5.3, then such amendment, waiver or consent shall
apply automatically to any comparable provision of the Comparable Second Lien Security Document without the consent of the Second Lien Collateral Agent or the Second Lien Claimholders and without any action by the Second Lien Collateral Agent, the
Company or any other Grantor, provided that: 
 (i) no such amendment, waiver or consent shall have the
effect of: 
 (A) removing assets subject to the Lien of the Second Lien Security Documents, except to the extent
that a release of such Lien is permitted or required by Section 5.1 and provided that there is a corresponding release of the Liens securing the First Lien Obligations; 

(B) imposing duties on the Second Lien Collateral Agent without its consent; 

(C) permitting other Liens on the Collateral not permitted under the terms of the Second Lien Documents or Section 6;
or 

  
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 (D) being prejudicial to the interests of the Second Lien Claimholders to a
greater extent than the First Lien Claimholders (other than by virtue of their relative priority and the rights and obligations hereunder); and 
 (ii) notice of such amendment, waiver or consent shall have been given to the Second Lien Collateral Agent within ten (10) Business Days after the effective date of such amendment, waiver or consent.

 5.4 Legends. The Company agrees that each Second Lien Security Document and each First Lien Security Document
shall include the following language (or language to similar effect approved, in the case of the Second Lien Security Documents, by the First Lien Collateral Agent, and in the case of the First Lien Security Documents, by the Second Lien Collateral
Agent): 
 “Notwithstanding anything herein to the contrary, the lien and security interest granted to the [Second Lien
Collateral Agent/First Lien Collateral Agent] pursuant to this Agreement and the exercise of any right or remedy by such Collateral Agent hereunder are subject to the provisions of the Intercreditor Agreement, dated as of July [__], 2013 (as
amended, restated, supplemented or otherwise modified from time to time, the “Intercreditor Agreement”), among the Company, Jefferies Finance LLC, as First Lien Collateral Agent and The Bank of New York Mellon, as Second Lien Collateral
Agent and certain other Persons party or that may become party thereto from time to time. In the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and
control.” 
 In addition, the Company agrees that each mortgage covering any Collateral shall contain such other language as the First Lien
Collateral Agent, in the case of the Second Lien Security Documents, and the Second Lien Collateral Agent, in the case of the First Lien Security Documents, may reasonably request to reflect the subordination and other provisions of this Agreement.

 5.5 Gratuitous Bailee/Agent for Perfection. 

(a) The First Lien Collateral Agent agrees to hold that part of the Collateral that is in its possession or control (or in the possession
or control of its agents or bailees) to the extent that possession or control thereof is taken to perfect a Lien thereon under the UCC (such Collateral being the “Pledged Collateral”) as collateral agent for the First Lien
Claimholders and as gratuitous bailee for the Second Lien Collateral Agent (such bailment being intended, among other things, to satisfy the requirements of Sections 8-106(d)(3), 8-301(a)(2) and 9-313(c) of the UCC) and any assignee solely for the
purpose of perfecting the security interest granted under the First Lien Loan Documents and the Second Lien Documents, respectively, subject to the terms and conditions of this Section 5.5. Solely with respect to any deposit accounts under the
control (within the meaning of Section 9-104 of the UCC) of the First Lien Collateral Agent, the First Lien Collateral Agent agrees to also hold control over such deposit accounts as gratuitous agent for the Second Lien Collateral Agent,
subject to the terms and conditions of this Section 5.5. 
 (b) The First Lien Collateral Agent shall have no obligation
whatsoever to the First Lien Claimholders, the Second Lien Collateral Agent or any Second Lien Claimholder to ensure that the Pledged Collateral is genuine or owned by any of the Grantors, any security interest granted in any such Pledged Collateral
is valid or in effect or otherwise perfected or to preserve rights or benefits of any Person except as expressly set forth in this Section 5.5. The duties or responsibilities of the First Lien Collateral Agent under this Section 5.5 shall
be limited solely to holding the Pledged Collateral as bailee (and with respect to deposit accounts, agent) in accordance with this Section 5.5 and delivering the Pledged Collateral upon a Discharge of First Lien Obligations as provided in
paragraph (d) below. 

  
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 (c) None of the First Lien Collateral Agent and the First Lien Claimholder shall have by
reason of the First Lien Security Documents, the Second Lien Security Documents, this Agreement or any other document a fiduciary relationship in respect of the Second Lien Collateral Agent or any Second Lien Claimholder, and the Second Lien
Collateral Agent and the Second Lien Claimholders hereby waive and release the First Lien Collateral Agent and the First Lien Claimholders from all claims and liabilities arising pursuant to the First Lien Collateral Agent’s role under this
Section 5.5 as gratuitous bailee and gratuitous agent with respect to the Pledged Collateral. It is understood and agreed that the interests of the First Lien Collateral Agent and the First Lien Claimholders, on the one hand, and the Second
Lien Collateral Agent and the Second Lien Claimholders, on the other hand, may differ and the First Lien Collateral Agent and the First Lien Claimholders shall be fully entitled to act in their own interest without taking into account the interests
of the Second Lien Collateral Agent or the Second Lien Claimholders. 
 (d) Upon the Discharge of First Lien Obligations under
the First Lien Loan Documents to which the First Lien Collateral Agent is a party, the First Lien Collateral Agent shall deliver the remaining Pledged Collateral in its possession (if any) together with any necessary endorsements (such endorsement
shall be without recourse to, and without any representation or warranty by, the First Lien Collateral Agent), first, to the Second Lien Collateral Agent to the extent Second Lien Obligations remain outstanding and second, to the
Company only to the extent no First Lien Obligations, Excess First Lien Obligations, Second Lien Obligations or Excess Second Lien Obligations remain outstanding (in each case, so as to allow such Person to obtain possession or control of such
Pledged Collateral) or as a court of competent jurisdiction may otherwise direct. The First Lien Collateral Agent further agrees to take all other action reasonably requested by the Second Lien Collateral Agent (as directed, in the case of the
Second Lien Collateral Agent, by the Instructing Group) at the expense of the Company in connection with the Second Lien Collateral Agent obtaining a first-priority security interest in the Collateral. The Second Lien Collateral Agent will have no
obligation to any First Lien Claimholder or Second Lien Claimholder to ensure that any Pledged Collateral is genuine or owned by any of the Grantors or to preserve rights or benefits of any Person except as expressly set forth in this
Section 5.5(d). The duties or responsibilities of the Second Lien Collateral Agent under this Section 5.5(d) will be limited solely to possessing or controlling the Pledged Collateral as bailee and/or agent for perfection in accordance
with this Section 5.5(d) and delivering the Pledged Collateral upon the Discharge of Second Lien Obligations first to the First Lien Collateral Agent and second, to the Company only to the extent no First Lien Obligations, Excess First Lien
Obligations, Second Lien Obligations or Excess Second Lien Obligations remain outstanding. 
 (e) To the extent that any
Collateral (or proceeds thereof) comes into the possession or under the control of the Second Lien Collateral Agent or any other Second Lien Claimholder at any time prior to the Discharge of First Lien Obligations, such Collateral (and proceeds
thereof) (whether arising out of the action taken to enforce, collect or realize upon any Collateral or otherwise) shall be promptly delivered to the First Lien Collateral Agent without recourse and without any representation or warranty of any kind
whatsoever, together with any necessary endorsements. Until such time as such Collateral (or proceeds thereof) shall have been so delivered to the First Lien Collateral Agent, the Second Lien Collateral Agent or other Second Lien Claimholder shall
hold same as agent and bailee for the First Lien Collateral Agent and any assignee solely for the purpose of perfecting the security interest (improving the priority thereof) granted in such Collateral pursuant to the First Lien Loan Documents.

 5.6 When Discharge of First Lien Obligations Deemed to Not Have Occurred. If, at any time after the Discharge
of First Lien Obligations has occurred, the Company thereafter enters into any Refinancing of any First Lien Loan Document evidencing a First Lien Obligation, which Refinancing 

  
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is permitted by the Second Lien Documents, then such Discharge of First Lien Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement (other than with
respect to any actions taken as a result of the occurrence of such first Discharge of First Lien Obligations), and, from and after the date on which the New First Lien Debt Notice is delivered to the Second Lien Collateral Agent in accordance with
the next sentence, the obligations under such Refinancing of the First Lien Loan Document shall automatically be treated as First Lien Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in
respect of Collateral set forth herein, and the First Lien Collateral Agent under such First Lien Loan Documents shall be the First Lien Collateral Agent for all purposes of this Agreement. Upon receipt of a notice (the “New First Lien Debt
Notice”) stating that the Company has entered into a new First Lien Loan Document (which notice shall include the identity of the new first lien collateral agent, such agent, the “New Agent”), the Second Lien Collateral
Agent shall promptly (a) enter into such documents and agreements (including amendments or supplements to this Agreement) as the Company or such New Agent shall reasonably request in order to provide to the New Agent the rights contemplated
hereby, in each case consistent in all material respects with the terms of this Agreement and (b) deliver to the New Agent any Pledged Collateral held by it together with any necessary endorsements (or otherwise allow the New Agent to obtain
control of such Pledged Collateral). The New Agent shall agree in a writing addressed to the Second Lien Collateral Agent and the Second Lien Claimholders to be bound by the terms of this Agreement. If the new First Lien Obligations under the new
First Lien Loan Documents are secured by assets of the Grantors constituting Collateral that do not also secure the Second Lien Obligations, then the Second Lien Obligations shall be secured at such time by a second priority Lien on such assets to
the same extent provided in the Second Lien Security Documents and this Agreement. 
 5.7 Purchase Right.

 (a) Without prejudice to the enforcement of any of the First Lien Claimholders’ remedies under the First Lien Loan
Documents, this Agreement, at law or in equity or otherwise, the First Lien Claimholders agree that at any time following: (i) an acceleration of the First Lien Obligations in accordance with the terms of the First Lien Credit Agreement,
(ii) a payment default in respect of principal or interest under the First Lien Credit Agreement that has not been cured or waived by the First Lien Claimholders within 60 days of the occurrence thereof or (iii) the commencement of any
Insolvency or Liquidation Proceeding, the First Lien Collateral Agent, on behalf of the First Lien Claimholders, will offer the Second Lien Claimholders, including the Second Lien Noteholders, by written notice to the Second Lien Collateral Agent,
the option to purchase the entire aggregate amount of outstanding First Lien Obligations (including unfunded commitments under the First Lien Credit Agreement) at the Purchase Price without warranty or representation or recourse except as provided
in Section 5.7(c). The “Purchase Price” will equal the sum of: (1) the principal amount of all loans, advances or similar extensions of credit included in the First Lien Obligations (including an amount in cash equal to
103% of the undrawn amount of outstanding letters of credit), and all accrued and unpaid interest thereon through the date of purchase (but excluding any prepayment penalties or premiums), (2) the net aggregate amount then owing to First Lien
Lender Counterparties under First Lien Hedging Agreements, including all amounts owing to the First Lien Lender Counterparties as a result of the termination (or early termination) thereof, and (3) all accrued and unpaid fees, expenses and
other amounts owed to the First Lien Claimholders under the First Lien Loan Documents on the date of purchase to the extent not allocable to Excess First Lien Obligations. 
 (b) The Second Lien Claimholders opting to purchase the First Lien Obligations shall irrevocably accept such offer within twenty (20) Business Days of the receipt thereof and shall agree to
consummate the purchase no later than the fortieth (40th) Business Day after the receipt of such offer, subject to any required approval of any court or other Governmental Authority then in effect, if any. Such sale shall be pursuant to
documentation mutually acceptable to each of the First Lien Collateral Agent and 

  
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the Second Lien Collateral Agent, without the prior written consent of the Company or any other Grantor. If the Second Lien Claimholders reject such offer (or do not so irrevocably accept such
offer within the required timeframe), the First Lien Claimholders shall have no further obligations pursuant to this Section 5.7 and may take any further actions in their sole discretion in accordance with the First Lien Loan Documents and this
Agreement. Each First Lien Claimholder will retain all rights to indemnification provided in the relevant First Lien Loan Documents for all claims and other amounts relating to periods prior to the purchase of the First Lien Obligations pursuant to
this Section 5.7. The Purchase Price shall be remitted by wire transfer in federal funds to such bank account of the First Lien Collateral Agent for the ratable account of the First Lien Collateral Agent and the First Lien Claimholders in New
York, New York, as the First Lien Collateral Agent may designate in writing to the Second Lien Collateral Agent for such purpose. Interest shall be calculated to but excluding the Business Day on which such purchase and sale shall occur if the
amounts so paid by the Second Lien Noteholders that have exercised such option to the bank account designated by the First Lien Collateral Agent are received in such bank account prior to 1:00 p.m., New York City time and interest shall be
calculated to and including such Business Day if the amounts so paid by such Second Lien Noteholders to the bank account designated by the First Lien Collateral Agent are received in such bank account later than 1:00 p.m., New York City time on such
Business Day. 
 (c) The Second Lien Claimholders agree that the purchase and sale of the First Lien Obligations under this
Section 5.7 will be expressly made without recourse and without representation or warranty of any kind by the First Lien Claimholders, except that the First Lien Claimholders shall severally and not jointly represent and warrant to the Second
Lien Claimholders that on the date of the purchase, immediately before giving effect to such purchase: 
 (i)
the principal of and accrued and unpaid interest on the First Lien Obligations, and the fees and expenses thereof owed to the respective First Lien Claimholders, are as stated in any assignment agreement prepared in connection with the purchase and
sale of the First Lien Obligations; and 
 (ii) each First Lien Claimholder owns the First Lien Obligations
purported to be owned by it free and clear of any Liens (other than participation interests not prohibited by the First Lien Credit Agreement, in which case the Purchase Price will be appropriately adjusted so that the Second Lien Claimholders do
not pay amounts represented by participation interests). 
 (d) Any Excess First Lien Obligations will, after the closing of the
purchase of the First Lien Obligations in accordance with this Section 5.7 remain Excess First Lien Obligations for all purposes of this Agreement. 
 SECTION 6 Insolvency or Liquidation Proceedings. 
 6.1
Finance and Sale Issues. 
 (a) Until the Discharge of First Lien Obligations has occurred, if the Company or any
other Grantor shall be subject to any Insolvency or Liquidation Proceeding and the First Lien Collateral Agent shall desire to permit the use of “Cash Collateral” (as such term is defined in Section 363(a) of the Bankruptcy Code), on
which the First Lien Collateral Agent or any other creditor has a Lien or to permit the Company or any other Grantor to obtain financing, whether from the First Lien Claimholders or any other Person under Section 364 of the Bankruptcy Code or
any similar Bankruptcy Law (“DIP Financing”), then the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, agrees that it will raise no objection to or contest (or join with or support any third party
in objecting or contesting), and each Second Lien Claimholder shall be deemed to have consented to, such 

  
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Cash Collateral use or DIP Financing (including any proposed orders for such Cash Collateral use and/or DIP Financing which are acceptable to the First Lien Collateral Agent) and to the extent
the Liens securing the First Lien Obligations are subordinated to or pari passu with such DIP Financing, the Second Lien Collateral Agent will subordinate its Liens in the Collateral to the Liens securing such DIP Financing (and all Obligations
relating thereto) and will not request adequate protection or any other relief in connection therewith (except as expressly agreed by the First Lien Collateral Agent or to the extent permitted by Section 6.3); provided that (i) the
aggregate principal amount of the DIP Financing plus the aggregate outstanding principal amount of First Lien Obligations constituting Indebtedness for borrowed money plus the aggregate face amount of any letters of credit issued and
not reimbursed under the First Lien Credit Agreement does not exceed the sum of (I) the First Lien Cap Amount and (II) $50,000,000 and (ii) the Second Lien Collateral Agent and the Second Lien Claimholders retain the right to object to any
ancillary agreements or arrangements regarding Cash Collateral use or the DIP Financing that are materially prejudicial to their interests. The Second Lien Collateral Agent, on behalf of itself and each other Second Lien Claimholder, agrees that it
will not provide or seek (or support any other Person that is not a First Lien Claimholder seeking) to provide DIP Financing to the Company or any other Grantor so long as the First Lien Collateral Agent or any other First Lien Claimholder shall
desire to provide such DIP Financing; provided, however, in the event that no First Lien Claimholder desires to provide a DIP Financing, the First Lien Collateral Agent, on behalf of itself and each other First Lien Claimholder, reserves the right
to object to the provision of any DIP Financing by any Second Lien Claimholder. 
 (b) The Second Lien Collateral Agent on
behalf of the Second Lien Claimholders agrees that it will not seek consultation rights in connection with, and it will raise no objection or oppose, a motion to Dispose of Collateral under Section 363 of the Bankruptcy Code if the requisite
First Lien Claimholders have consented to such Disposition. The Second Lien Collateral Agent on behalf of the Second Lien Claimholders further agrees that it will not directly or indirectly oppose or impede entry of any order in connection with such
Disposition, including orders to retain professionals or set bid procedures in connection with such sale, liquidation or disposition if the requisite First Lien Claimholders have consented to such (i) retention of professionals and bid
procedures in connection with such sale, liquidation or disposition of such assets and (ii) the Disposition of such assets, in which event the Second Lien Claimholders will be deemed to have consented to the Disposition of Collateral pursuant
to Section 363(f) of the Bankruptcy Code and such motion does not impair the rights of the Second Lien Claimholders under Section 363(k) of the Bankruptcy Code; provided that (i) the First Lien Cap Amount shall be reduced by an
amount equal to the net cash proceeds of such sale or other disposition which are used to pay the principal or face amount of the First Lien Obligations and (ii) any proceeds in excess of those necessary for the Discharge of First Lien
Obligations shall be applied in accordance with this Agreement and applicable law. 
 (c) Notwithstanding any other provision
hereof to the contrary, the Second Lien Collateral Agent on its behalf and on behalf of the Second Lien Claimholders, agrees that (i) without the consent of the First Lien Claimholders, none of the Second Lien Collateral Agent, the Second Lien
Claimholders or any agent or the trustee on behalf of any of them shall, for any purpose during any Insolvency or Liquidation Proceeding or otherwise, support, endorse, propose or submit, whether directly or indirectly, any valuation of any of the
Grantors or their respective assets that allocates or ascribes any value whatsoever to any of the Restricted Assets and (ii) without the consent of the First Lien Claimholders, none of the Second Lien Collateral Agent, the Second Lien
Claimholders or any agent or trustee on behalf of any of them shall for any purpose during any Insolvency or Liquidation Proceeding or otherwise challenge, dispute or object to any valuation of the Company or any of the Subsidiary Guarantors or
their respective assets, or otherwise take any position with respect to such valuation, that is proposed, supported or otherwise arises in any Insolvency or Liquidation Proceeding, on grounds that such valuation does not allocate or ascribe adequate
or appropriate value to any of the Restricted Assets. 

  
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 6.2 Relief from the Automatic Stay. Until the Discharge of First Lien
Obligations has occurred, the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, agrees that none of them shall: (i) seek (or support any other Person seeking) relief from the automatic stay or any other stay in
any Insolvency or Liquidation Proceeding in respect of the Collateral or the Restricted Assets, without the prior written consent of the First Lien Collateral Agent or (ii) oppose (or support any other Person in opposing) any request by the
First Lien Collateral Agent for relief from such stay. 
 6.3 Adequate Protection. 

(a) The Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, agrees that none of them shall contest (or
support any other Person contesting): 
 (i) any request by the First Lien Collateral Agent or the First Lien
Claimholders for adequate protection under any Bankruptcy Law; or 
 (ii) any objection by the First Lien
Collateral Agent or the First Lien Claimholders to any motion, relief, action or proceeding based on the First Lien Collateral Agent or the First Lien Claimholders claiming a lack of adequate protection. 

(b) Notwithstanding the foregoing provisions in this Section 6.3, in any Insolvency or Liquidation Proceeding: 

(i) if the First Lien Claimholders (or any subset thereof) are granted adequate protection in the form of additional
collateral in connection with any use of Cash Collateral or DIP Financing, then the Second Lien Collateral Agent, on behalf of itself or any of the Second Lien Claimholders, may seek or request adequate protection in the form of a Lien on such
additional collateral, which Lien will be subordinated to the Liens securing the First Lien Obligations and such use of Cash Collateral or DIP Financing (and all Obligations relating thereto) on the same basis as the other Liens securing the Second
Lien Obligations are so subordinated to the First Lien Obligations under this Agreement; and 
 (ii) the Second
Lien Collateral Agent and the Second Lien Claimholders shall only be permitted to seek adequate protection with respect to their respective rights in the Collateral in any Insolvency or Liquidation Proceeding in the form of (A) additional
collateral; provided that as adequate protection for the First Lien Obligations, the First Lien Collateral Agent, on behalf of the First Lien Claimholders, is also granted a senior Lien on such additional collateral; (B) replacement
Liens on the Collateral; provided that as adequate protection for the First Lien Obligations, the First Lien Collateral Agent, on behalf of the First Lien Claimholders, is also granted senior replacement Liens on the Collateral; and
(C) an administrative expense claim; provided that as adequate protection for the First Lien Obligations, the First Lien Collateral Agent, on behalf of the First Lien Claimholders, is also granted an administrative expense claim which is
senior and prior to the administrative expense claim of the Second Lien Collateral Agent and the Second Lien Claimholders. If any Second Lien Claimholder receives post-petition interest and/or adequate protection payments in an Insolvency or
Liquidation Proceeding (“Second Lien Adequate Protection Payments”), and the First Lien Claimholders do not receive payment in full in cash of all First Lien Obligations (subject, in the case of principal outstanding under the First
Lien Credit Agreement and the other First Lien Loan Documents and face amounts of letters of credit, to the First Lien Cap Amount) upon the effectiveness of the plan of reorganization for, or conclusion of, that Insolvency or Liquidation Proceeding,
then, each Second Lien Claimholders shall pay over to the First Lien Claimholders an amount (the 

  
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“Pay-Over Amount”) equal to the lesser of (i) the Second Lien Adequate Protection Payments received by such Second Lien Claimholders and (ii) the amount of the
short-fall (the “Short Fall”) in payment in full of the First Lien Loan Obligations (subject, in the case of principal outstanding under the First Lien Credit Agreement and the other First Lien Loan Documents and face amounts of
letters of credit, to the First Lien Cap Amount); provided that to the extent any portion of the Short Fall represents payments received by the First Lien Claimholders in the form of promissory notes, equity or other property, equal in value
to the cash paid in respect of the Pay-Over Amount, the First Lien Claimholders shall, upon receipt of the Pay-Over Amount, transfer those promissory notes, equity or other property, pro rata, equal in value to the cash paid in respect of the
Pay-Over Amount to the applicable Second Lien Claimholders in exchange for the Pay-Over Amount. Notwithstanding anything herein to the contrary, the First Lien Claimholders shall not be deemed to have consented to, and expressly retain their rights
to object to, the grant of adequate protection in the form of cash payments to the Second Lien Claimholders made pursuant to this Section 6.3(b). 
 (c) The Second Lien Collateral Agent, for itself and on behalf of the other Second Lien Claimholders, agrees that notice of a hearing to approve DIP Financing or use of Cash Collateral on an interim basis
shall be adequate if delivered to the Second Lien Collateral Agent at least two (2) Business Days in advance of such hearing and that notice of a hearing to approve DIP Financing or use of Cash Collateral on a final basis shall be adequate if
delivered to the Second Lien Collateral Agent at least fifteen (15) days in advance of such hearing. 
 6.4 No
Waiver. Subject to Sections 3.1(a), 3.1(c), 3.1(d) and 6.7(b), nothing contained herein shall prohibit or in any way limit the First Lien Collateral Agent or any First Lien Claimholder from objecting in any Insolvency or Liquidation Proceeding
or otherwise to any action taken by the Second Lien Collateral Agent or any of the Second Lien Claimholders, including the seeking by the Second Lien Collateral Agent or any Second Lien Claimholders of adequate protection or the asserting by the
Second Lien Collateral Agent or any Second Lien Claimholders of any of its rights and remedies under the Second Lien Documents or otherwise. 
 6.5 Avoidance Issues. If any First Lien Claimholder is required in any Insolvency or Liquidation Proceeding or otherwise to turn over or otherwise pay to the estate of the Company or any
other Grantor any amount paid in respect of First Lien Obligations (a “Recovery”), then such First Lien Claimholders shall be entitled to a reinstatement of First Lien Obligations with respect to all such recovered amounts on
the date of such Recovery, and from and after the date of such reinstatement the Discharge of First Lien Obligations shall be deemed not the have occurred for all purposes hereunder. If this Agreement shall have been terminated prior to such
Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair or otherwise affect the obligations of the parties hereto from such date of reinstatement. 

6.6 Reorganization Securities. If, in any Insolvency or Liquidation Proceeding, debt obligations of the reorganized debtor
secured by Liens upon any property of the reorganized debtor are distributed pursuant to a plan of reorganization, arrangement, compromise or liquidation or similar dispositive restructuring plan, both on account of First Lien Obligations and on
account of Second Lien Obligations, then, to the extent the debt obligations distributed on account of the First Lien Obligations and on account of the Second Lien Obligations are secured by Liens upon the same property, the provisions of this
Agreement will survive the distribution of such debt obligations pursuant to such plan and will apply with like effect to the Liens securing such debt obligations. 

  
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 6.7 Post-Petition Interest. 

(a) Neither the Second Lien Collateral Agent nor any Second Lien Claimholder shall oppose or seek to challenge any claim by the First
Lien Collateral Agent or any First Lien Claimholder for allowance in any Insolvency or Liquidation Proceeding of First Lien Obligations consisting of Post-Petition Interest to the extent of the value of any First Lien Claimholder’s Lien,
without regard to the existence of the Lien of the Second Lien Collateral Agent on behalf of the Second Lien Claimholders on the Collateral. 
 (b) Neither the First Lien Collateral Agent nor any other First Lien Claimholder shall oppose or seek to challenge any claim by the Second Lien Collateral Agent or any Second Lien Claimholder for
allowance in any Insolvency or Liquidation Proceeding of Second Lien Obligations consisting of Post-Petition Interest to the extent of the value of the Lien of the Second Lien Collateral Agent on behalf of the Second Lien Claimholders on the
Collateral (after taking into account the value of the First Lien Obligations). 
 6.8 Waiver. The Second Lien
Collateral Agent, for itself and on behalf of the Second Lien Claimholders, waives any claim it may hereafter have against any First Lien Claimholder arising out of the election of any First Lien Claimholder of the application of
Section 1111(b)(2) of the Bankruptcy Code, and/or out of any cash collateral or financing arrangement or out of any grant of a security interest in connection with the Collateral in any Insolvency or Liquidation Proceeding so long as such
actions are not in express contravention of the terms of this Agreement. 
 6.9 Separate Grants of Security and
Separate Classification. The Second Lien Collateral Agent, for itself and on behalf of the Second Lien Claimholders, and the First Lien Collateral Agent for itself and on behalf of the First Lien Claimholders, acknowledges and agrees that:

 (a) the grants of Liens pursuant to the First Lien Security Documents and the Second Lien Security Documents constitute two
separate and distinct grants of Liens; and 
 (b) because of, among other things, their differing rights in the Collateral, the
Second Lien Obligations are fundamentally different from the First Lien Obligations and must be separately classified in any plan of reorganization proposed or adopted in an Insolvency or Liquidation Proceeding. 

To further effectuate the intent of the parties as provided in the immediately preceding sentence, if it is held that the claims of the
First Lien Claimholders and the Second Lien Claimholders in respect of the Collateral constitute only one secured claim (rather than separate classes of senior and junior secured claims), then each of the parties hereto hereby acknowledges and
agrees (and by the acceptance of the benefits hereof, each of the First Lien Claimholders and Second Lien Claimholders acknowledges and agrees) that, subject to Sections 2.1 and 4.1, all distributions shall be made as if there were separate classes
of senior and junior secured claims against the Grantors in respect of the Collateral (with the effect being that, to the extent that the aggregate value of the Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien
Claimholders), the First Lien Claimholders shall be entitled to receive, in addition to amounts distributed to them in respect of principal, pre-petition interest and other claims, all amounts owing (or that would be owing if there were such
separate classes of senior and junior secured claims) in respect of Post-Petition Interest, including any additional interest payable pursuant to the First Lien Credit Agreement, arising from or related to a default, which is disallowed as a claim
in any Insolvency or Liquidation Proceeding) before any distribution is made in respect of the claims held by the Second Lien Claimholders with respect to the Collateral, with the Second Lien Collateral Agent, for itself and on behalf of the Second
Lien Claimholders, hereby acknowledging and agreeing to turn over to the First Lien Collateral Agent, for itself and on behalf of the First Lien 

  
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Claimholders, Collateral or proceeds of Collateral otherwise received or receivable by them to the extent necessary to effectuate the intent of this sentence, even if such turnover has the effect
of reducing the claim or recovery of the Second Lien Claimholders). 
 6.10 Effectiveness in Insolvency
Proceedings. The parties acknowledge that this Agreement is a “subordination agreement” under Section 510(a) of the Bankruptcy Code, which will be effective before, during and after the commencement of any Insolvency or
Liquidation Proceeding. All references in this Agreement to any Grantor will include such Person as a debtor-in-possession and any receiver or trustee for such Person in any Insolvency or Liquidation Proceeding. 

6.11 No Surcharge of Collateral. None of the Second Lien Collateral Agent or any other Second Lien Claimholder shall, in an
Insolvency or Liquidation Proceeding or otherwise, assert or enforce, at any time when the Discharge of First Lien Obligations has not occurred, any claim under Section 506(c) of Title 11 of the United States Code (and otherwise) for costs or
expenses of preserving or disposing of any Collateral. 
 6.12 Right to Credit Bid. None of the Second Lien
Collateral Agent or any other Second Lien Claimholder shall object to, contest or oppose (or support any other Person in objecting to, contesting or opposing) in any manner the exercise by the First Lien Collateral Agent or any of the First Lien
Lenders of the right to “credit bid” pursuant to Section 363(k) of Title 11 of the United States Code or other applicable law in respect of the Collateral. 
 6.13 Plan Treatment. None of the Second Lien Collateral Agent or any other Second Lien Claimholder shall seek (or cause or support any other Person to seek) the filing or confirmation of any
plan of reorganization or liquidation or similar dispositive plan that does not expressly provide for the Discharge of First Lien Obligations on the plan’s effective date. 

SECTION 7 Reliance; Waivers; Etc. 
 7.1 Reliance. Other than any reliance on the terms of this Agreement, the First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders, acknowledges that it and such
First Lien Claimholders have, independently and without reliance on the Second Lien Collateral Agent or any Second Lien Claimholder, and based on documents and information deemed by them appropriate, made their own credit analysis and decision to
enter into each of the First Lien Loan Documents and be bound by the terms of this Agreement and they will continue to make their own credit decision in taking or not taking any action under the First Lien Loan Documents or this Agreement. The
Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, acknowledges that it and the Second Lien Claimholders have, independently and without reliance on the First Lien Collateral Agent or any First Lien Claimholder, and
based on documents and information deemed by them appropriate, made their own credit analysis and decision to enter into each of the Second Lien Documents and be bound by the terms of this Agreement and they will continue to make their own credit
decision in taking or not taking any action under the Second Lien Documents or this Agreement. 
 7.2 No Warranties or
Liability. The First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders, acknowledges and agrees that each of the Second Lien Collateral Agent and the Second Lien Claimholders have made no express or implied
representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the Second Lien Documents, the ownership of any Collateral or the perfection or priority of any Liens
thereon. Except as otherwise provided herein, the Second Lien Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the Second Lien Documents in accordance with law and as they may otherwise, in
their sole discretion, deem appropriate. Except as 

  
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otherwise provided herein, the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, acknowledges and agrees that each of the First Lien Collateral Agent and the
First Lien Claimholders have made no express or implied representation or warranty, including with respect to the execution, validity, legality, completeness, collectability or enforceability of any of the First Lien Loan Documents, the ownership of
any Collateral or the perfection or priority of any Liens thereon. Except as otherwise provided herein, the First Lien Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under the First Lien Loan
Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate. The Second Lien Collateral Agent and the Second Lien Claimholders shall have no duty to the First Lien Collateral Agent or any of the First Lien
Claimholders, and the First Lien Collateral Agent and the First Lien Claimholders shall have no duty to the Second Lien Collateral Agent or any of the Second Lien Claimholders, to act or refrain from acting in a manner which allows, or results in,
the occurrence or continuance of an event of default or default under any agreements with the Company or any other Grantor (including the First Lien Loan Documents and the Second Lien Documents), regardless of any knowledge thereof which they may
have or be charged with. 
 7.3 No Waiver of Lien Priorities. 

(a) No right of the First Lien Claimholders, the First Lien Collateral Agent or any of them to enforce any provision of this Agreement or
any First Lien Loan Document shall at any time in any way be prejudiced or impaired by any act or failure to act on the part of the Company or any other Grantor or by any act or failure to act by any First Lien Claimholder or the First Lien
Collateral Agent, or by any noncompliance by any Person with the terms, provisions and covenants of this Agreement, any of the First Lien Loan Documents or any of the Second Lien Documents, regardless of any knowledge thereof which the First Lien
Collateral Agent or the First Lien Claimholders, or any of them, may have or be otherwise charged with. 
 (b) Without in any
way limiting the generality of the foregoing paragraph (but subject to the rights of the Company and the other Grantors under the First Lien Loan Documents and subject to the provisions of Section 5.3(a)), the First Lien Claimholders, the First
Lien Collateral Agent and any of them may, at any time and from time to time in accordance with the First Lien Loan Documents and/or applicable law, without the consent of, or notice to, the Second Lien Collateral Agent or any Second Lien
Claimholders, without incurring any liabilities to the Second Lien Collateral Agent or any Second Lien Claimholders and without impairing or releasing the Lien priorities and other benefits provided in this Agreement (even if any right of
subrogation or other right or remedy of the Second Lien Collateral Agent or any Second Lien Claimholders is affected, impaired or extinguished thereby) do any one or more of the following: 

(i) change the manner, place or terms of payment or change or extend the time of payment of, or amend, renew, exchange,
increase or alter, the terms of any of the First Lien Obligations or any Lien on any First Lien Collateral or guaranty thereof or any liability of the Company or any other Grantor, or any liability incurred directly or indirectly in respect thereof
(including any increase in or extension of the First Lien Obligations, without any restriction as to the tenor or terms of any such increase or extension) or otherwise amend, renew, exchange, extend, modify or supplement in any manner any Liens held
by the First Lien Collateral Agent or any of the First Lien Claimholders, the First Lien Obligations or any of the First Lien Loan Documents; provided that any such increase in the First Lien Obligations shall not increase the sum of the
Indebtedness for borrowed money constituting principal under the First Lien Credit Agreement and the face amount of any letters of credit issued under the First Lien Credit Agreement and not reimbursed to an amount in excess of the First Lien Cap
Amount; 

  
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 (ii) sell, exchange, release, surrender, realize upon, enforce or otherwise
deal with in any manner and in any order any part of the First Lien Collateral or any liability of the Company or any other Grantor to the First Lien Claimholders or the First Lien Collateral Agent, or any liability incurred directly or indirectly
in respect thereof; 
 (iii) settle or compromise any First Lien Obligation or any other liability of the Company
or any other Grantor or any security therefor or any liability incurred directly or indirectly in respect thereof and apply any sums by whomsoever paid and however realized to any liability (including the First Lien Obligations) in any manner or
order; and 
 (iv) exercise or delay in or refrain from exercising any right or remedy against the Company or any
security or any other Grantor or any other Person, elect any remedy and otherwise deal freely with the Company, any other Grantor or any First Lien Collateral and any security and any guarantor or any liability of the Company or any other Grantor to
the First Lien Claimholders or any liability incurred directly or indirectly in respect thereof. 
 (c) Except as otherwise
expressly provided herein, the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, also agrees that the First Lien Claimholders and the First Lien Collateral Agent shall have no liability to the Second Lien Collateral
Agent or any Second Lien Claimholders, and the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, hereby waives any claim against any First Lien Claimholder or the First Lien Collateral Agent, arising out of any and
all actions which the First Lien Claimholders or the First Lien Collateral Agent may take or permit or omit to take with respect to: 
 (i) the First Lien Loan Documents (other than this Agreement); 

(ii) the collection of the First Lien Obligations; 

(iii) the foreclosure upon, or sale, liquidation or other disposition of, any First Lien Collateral. The Second Lien
Collateral Agent, on behalf of itself and the Second Lien Claimholders, agrees that the First Lien Claimholders and the First Lien Collateral Agent have no duty to them in respect of the maintenance or preservation of the First Lien Collateral, the
First Lien Obligations or otherwise; or 
 (iv) any election by an First Lien Claimholder in any proceeding under
the Bankruptcy Code of the application of Section 111(b) thereof. 
 (d) Until the Discharge of First Lien Obligations, the
Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, agrees not to assert and hereby waives, to the fullest extent permitted by law, any right to demand, request, plead or otherwise assert or otherwise claim the
benefit of, any marshalling, appraisal, valuation or other similar right that may otherwise be available under applicable law with respect to the Collateral or any other similar rights a junior secured creditor may have under applicable law.

 7.4 Obligations Unconditional. All rights, interests, agreements and obligations of the First Lien Collateral
Agent and the First Lien Claimholders and the Second Lien Collateral Agent and the Second Lien Claimholders, respectively, hereunder shall remain in full force and effect irrespective of: 

(a) any lack of validity or enforceability of any First Lien Loan Documents or any Second Lien Documents; 

  
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 (b) except as otherwise expressly set forth in this Agreement, any change in the time,
manner or place of payment of, or in any other terms of, all or any of the First Lien Obligations or Second Lien Obligations, or any amendment or waiver or other modification, including any increase in the amount thereof or interest rate thereon,
whether by course of conduct or otherwise, of the terms of any First Lien Loan Document or any Second Lien Document; 
 (c)
except as otherwise expressly set forth in this Agreement, any exchange or impairment of any security interest in any Collateral or any other collateral, or any amendment, waiver or other modification, whether in writing or by course of conduct or
otherwise, of all or any of the First Lien Obligations or Second Lien Obligations or any guaranty thereof; 
 (d) the
commencement of any Insolvency or Liquidation Proceeding in respect of the Company or any other Grantor; or 
 (e) any other
circumstances which otherwise might constitute a defense available to, or a discharge of, the Company or any other Grantor in respect of the First Lien Collateral Agent, the First Lien Obligations, any First Lien Claimholder, the Second Lien
Collateral Agent, the Second Lien Obligations or any Second Lien Claimholder in respect of this Agreement. 
 SECTION 8
Miscellaneous. 
 8.1 Conflicts. In the event of any conflict between the provisions of this Agreement
and the provisions of the First Lien Loan Documents or the Second Lien Documents, the provisions of this Agreement shall govern and control. 
 8.2 Effectiveness; Continuing Nature of this Agreement; Severability. This Agreement shall become effective when executed and delivered by the parties hereto. This is a continuing agreement
of lien subordination and the First Lien Claimholders may continue, at any time and without notice to the Second Lien Collateral Agent or any Second Lien Claimholder subject to the Second Lien Documents, to extend credit and other financial
accommodations and lend monies to or for the benefit of the Company or any Grantor constituting First Lien Obligations in reliance hereof. The Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, hereby waives any
right it may have under applicable law to revoke this Agreement or any of the provisions of this Agreement. The terms of this Agreement shall survive, and shall continue in full force and effect, in any Insolvency or Liquidation Proceeding. Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. All references to the Company or any other Grantor shall include the Company or such Grantor as debtor and debtor-in-possession and any receiver, trustee or similar Person for the Company or any other
Grantor (as the case may be) in any Insolvency or Liquidation Proceeding. Subject to the immediately succeeding sentence, this Agreement shall terminate and be of no further force and effect: 

(a) with respect to the First Lien Collateral Agent, the First Lien Claimholders and the First Lien Obligations, the date of Discharge of
First Lien Obligations, subject to the rights of the First Lien Claimholders under Section 6.5; and 
 (b) with respect to
the Second Lien Collateral Agent, the Second Lien Claimholders and the Second Lien Obligations, upon the later of (1) the date upon which the obligations under the Second Lien Notes Indenture terminate if there are no other Second Lien
Obligations outstanding on such date and (2) if there are other Second Lien Obligations outstanding on such date, the date upon which such Second Lien Obligations terminate. 

  
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 Notwithstanding the foregoing or anything else in this Agreement to the contrary, to the extent that the
Discharge of the First Lien Obligations has occurred (subject to the rights of the First Lien Claimholders under Section 6.5) and no Second Lien Obligations remain outstanding but there remains outstanding Excess First Lien Obligations or
Excess Second Lien Obligations, (i) the provisions of this Agreement shall continue in full force and effect until such time as all Excess First Lien Obligations and all Excess Second Lien Obligations have been paid in full in cash,
(ii) the Excess First Lien Obligations shall be treated for all purposes hereunder as First Lien Obligations and (iii) the Excess Second Lien Obligations shall be treated for all purposes hereunder as Second Lien Obligations. 

8.3 Amendments; Waivers. No amendment, modification or waiver of any of the provisions of this Agreement by the Second Lien
Collateral Agent or the First Lien Collateral Agent shall be deemed to be made unless the same shall be in writing signed on behalf of each party hereto or its authorized agent and each waiver, if any, shall be a waiver only with respect to the
specific instance involved and shall in no way impair the rights of the parties making such waiver or the obligations of the other parties to such party in any other respect or at any other time; provided that (x) the First Lien
Collateral Agent may, without the written consent of any other First Lien Claimholder, the Second Lien Collateral Agent or any other Second Lien Claimholder, agree to modifications of this Agreement for the purpose of securing additional extensions
of credit (including pursuant to the First Lien Credit Agreement or any other First Lien Loan Document or any Refinancing or extension thereof) and adding new creditors as “First Lien Claimholders” hereunder, so long as such extensions
(and resulting additions) do not otherwise give rise to a violation of the express terms of the First Lien Credit Agreement or any other First Lien Loan Document or the Second Lien Notes Indenture or any other Second Lien Document and
(y) additional Grantors may be added as parties hereto in accordance with the provisions of Section 8.17. Notwithstanding the foregoing, the Company shall not have any right to consent to or approve any amendment, modification or waiver of
any provision of this Agreement except to the extent its rights are directly and adversely affected. 
 8.4
Information Concerning Financial Condition of the Company and its Subsidiaries. (a) The First Lien Collateral Agent and the First Lien Claimholders, on the one hand, and the Second Lien Claimholders and the Second Lien Collateral
Agent, on the other hand, shall each be responsible for keeping themselves informed of (i) the financial condition of the Company and its Subsidiaries and all endorsers and/or guarantors of the First Lien Obligations or the Second Lien
Obligations and (ii) all other circumstances bearing upon the risk of nonpayment of the First Lien Obligations or the Second Lien Obligations. 
 (b) The First Lien Collateral Agent and the First Lien Claimholders shall have no duty to advise the Second Lien Collateral Agent or any Second Lien Claimholder of information known to it or them
regarding such condition or any such circumstances or otherwise. In the event the First Lien Collateral Agent or any of the First Lien Claimholders, in its or their sole discretion, undertakes at any time or from time to time to provide any such
information to the Second Lien Collateral Agent or any Second Lien Claimholder, it or they shall be under no obligation: 
 (i) to make, and the First Lien Collateral Agent and the First Lien Claimholders shall not make, any express or implied representation or warranty, including with respect to the accuracy, completeness,
truthfulness or validity of any such information so provided; 
 (ii) to provide any additional information or to
provide any such information on any subsequent occasion; 
 (iii) to undertake any investigation; or 

(iv) to disclose any information, which pursuant to accepted or reasonable commercial finance practices, such party wishes
to maintain confidential or is otherwise required to maintain confidential. 
  

  
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 (c) The Second Lien Collateral Agent and the Second Lien Claimholders shall have no duty to
advise the First Lien Notes Collateral Agent or any First Lien Claimholder of information known to it or them regarding such condition or any such circumstances or otherwise. In the event the Second Lien Collateral Agent or any of the Second Lien
Claimholders, in its or their sole discretion, undertakes at any time or from time to time to provide any such information to the First Lien Collateral Agent or any First Lien Claimholder, it or they shall be under no obligation: 

(i) to make, and the Second Lien Collateral Agent and the Second Lien Claimholders shall not make, any express or implied
representation or warranty, including with respect to the accuracy, completeness, truthfulness or validity of any such information so provided; 
 (ii) to provide any additional information or to provide any such information on any subsequent occasion; 
 (iii) to undertake any investigation; or 
 (iv) to disclose any
information, which pursuant to accepted or reasonable commercial finance practices, such party wishes to maintain confidential or is otherwise required to maintain confidential. 

8.5 Subrogation. With respect to the value of any payments or distributions in cash, or other property that any of the
Second Lien Claimholders or the Second Lien Collateral Agent pays over to the First Lien Collateral Agent or the First Lien Claimholders under the terms of this Agreement, the Second Lien Claimholders and the Second Lien Collateral Agent shall be
subrogated to the rights of the First Lien Collateral Agent and the First Lien Claimholders; provided that the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders, hereby agrees not to assert or enforce all such
rights of subrogation it may acquire as a result of any payment hereunder until the Discharge of First Lien Obligations has occurred. The Company acknowledges and agrees that the value of any payments or distributions in cash, or other property
received by the Second Lien Collateral Agent or the Second Lien Claimholders that are paid over to the First Lien Collateral Agent or the First Lien Claimholders pursuant to this Agreement shall not reduce any of the Second Lien Obligations.

 8.6 Application of Payments. (a) All payments received by the First Lien Collateral Agent or the First
Lien Claimholders may be applied, reversed and reapplied, in whole or in part, to such part of the First Lien Obligations provided for in the First Lien Loan Documents. The Second Lien Collateral Agent, on behalf of itself and the Second Lien
Claimholders, assents to any extension or postponement of the time of payment, subject to Section 5.3(a), of the First Lien Obligations or any part thereof and, subject to the provisions of this Agreement, to any other indulgence with respect
thereto, to any substitution, exchange or release of any security which may at any time secure any part of the First Lien Obligations and to the addition or release of any other Person primarily or secondarily liable therefor. 

(b) All payments received by the Second Lien Collateral Agent or the Second Lien Claimholders may be applied in accordance with this
Agreement, reversed and reapplied, in whole or in part, to such part of the Second Lien Obligations provided for in the Second Lien Documents. The First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders, assents to any
extension or 

  
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postponement of the time of payment, subject to Section 5.3(b), of the Second Lien Obligations or any part thereof and, subject to the provisions of this Agreement, to any other indulgence
with respect thereto, to any substitution, exchange or release of any security which may at any time secure any part of the Second Lien Obligations and to the addition or release of any other Person primarily or secondarily liable therefor.

 8.7 SUBMISSION TO JURISDICTION; WAIVERS. 

(a) EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF
THE SUPREME COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO
THIS AGREEMENT, OR 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 COURT OR, TO THE EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, 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 APPLICABLE LEGAL REQUIREMENTS. 
 (b) EACH PARTY HEREBY
IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, 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 SECTION 8.7(a). EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR
PROCEEDING IN ANY SUCH COURT. 
 (c) EACH PARTY TO THIS AGREEMENT IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN
ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY FIRST LIEN LOAN DOCUMENT OR SECOND LIEN DOCUMENT, IN THE MANNER PROVIDED FOR NOTICES (OTHER THAN FACSIMILE OR OTHER ELECTRONIC TRANSMISSION) IN SECTION 8.8. 

(d) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LEGAL REQUIREMENTS, 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
(i) 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 (ii) 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 8.7(d). 

  
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 8.8 Notices. All notices to the First Lien Claimholders and the Second Lien
Claimholders permitted or required under this Agreement shall also be sent to the First Lien Collateral Agent and the Second Lien Collateral Agent, respectively. Unless otherwise specifically provided herein, any notice hereunder shall be in writing
and may be personally served, facsimile or sent by other electronic transmission or United States mail or courier service and shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof,
upon receipt of facsimile or other electronic transmission, or three (3) Business Days after depositing it in the United States mail with postage prepaid and properly addressed. For the purposes hereof, the addresses of the parties hereto shall
be as set forth below each party’s name on the signature pages hereto, or, as to each party, at such other address as may be designated by such party in a written notice to all of the other parties. 

8.9 Further Assurances. The First Lien Collateral Agent, on behalf of itself and the First Lien Claimholders under the
First Lien Loan Documents, and the Second Lien Collateral Agent, on behalf of itself and the Second Lien Claimholders under the Second Lien Documents, and the Company, agree that each of them, at the sole expense of the Company, shall take such
further action and shall execute and deliver such additional documents and instruments (in recordable form, if requested) as the First Lien Collateral Agent or the Second Lien Collateral Agent may reasonably request to effectuate the terms of and
the Lien priorities contemplated by this Agreement, including reinstatement as control agent under any account control agreement. 
 8.10 APPLICABLE LAW. THIS AGREEMENT, AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER SOUNDING IN CONTRACT LAW OR TORT LAW OR OTHERWISE) BASED UPON, ARISING OUT OF OR
RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW PRINCIPLES THAT WOULD APPLY THE LAWS OF ANOTHER
JURISDICTION.  
 8.11 Binding on Successors and Assigns. This Agreement shall be binding upon the First Lien
Collateral Agent, the First Lien Claimholders, the Second Lien Collateral Agent, the Second Lien Claimholders and their respective successors and assigns. If either of the First Lien Collateral Agent or the Second Lien Collateral Agent resigns or is
replaced pursuant to the First Lien Credit Agreement or the Second Lien Notes Indenture, as applicable, its successor shall be deemed to be a party to this Agreement and shall have all the rights of, and be subject to all the obligations of, this
Agreement. No provision of this Agreement will inure to the benefit of a trustee, debtor-in-possession, creditor trust or other representative of an estate or creditor of any Grantor, including where any such trustee, debtor-in-possession, creditor
trust or other representative of any estate or creditor is the beneficiary of a Lien securing Collateral by virtue of the avoidance of such Lien in an Insolvency or Liquidation Proceeding. 

8.12 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. 
 8.13 Counterparts. This Agreement may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which
when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement or any document or instrument delivered in connection herewith by telecopy, facsimile or other electronic transmission
shall be effective as delivery of a manually executed counterpart of this Agreement or such other document or instrument, as applicable. 

  
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 8.14 Authorization. By its signature, each Person executing this Agreement on
behalf of a party hereto represents and warrants to the other parties hereto that it is duly authorized to execute this Agreement. 
 8.15 No Third Party Beneficiaries; Provisions Solely to Define Relative Rights. This Agreement and the rights and benefits hereof shall inure to the benefit of each of the parties hereto and
its respective successors and assigns and shall inure to the benefit of each of the First Lien Claimholders and the Second Lien Claimholders. The provisions of this Agreement are and are intended solely for the purpose of defining the relative
rights of the First Lien Collateral Agent and the First Lien Claimholders on the one hand and the Second Lien Collateral Agent and the Second Lien Claimholders on the other hand. None of the Company, any other Grantor or any other creditor thereof
shall have any rights hereunder and neither the Company nor any Grantor may rely on the terms hereof. Nothing in this Agreement is intended to or shall impair the obligations of the Company or any other Grantor, which are absolute and unconditional,
to pay the First Lien Obligations and the Second Lien Obligations as and when the same shall become due and payable in accordance with their terms. 
 8.16 No Indirect Actions. Unless otherwise expressly stated, if a party may not take an action under this Agreement, then it may not take that action indirectly, or support any other Person
in taking that action directly or indirectly. “Taking an action indirectly” means taking an action that is not expressly prohibited for the party but is intended to have substantially the same effects as the prohibited action. 

8.17 Grantors; Additional Grantors. It is understood and agreed that the Company and each other Grantor on the date of this
Agreement shall constitute the original Grantors party hereto. The original Grantors hereby covenant and agree to cause each Subsidiary which becomes a Subsidiary Guarantor after the date hereof to promptly become a party hereto (as a Grantor) by
executing and delivering a counterpart hereof to each of the First Lien Collateral Agent and Second Lien Collateral Agent or by executing and delivering an assumption agreement in form and substance reasonably satisfactory to the First Lien
Collateral Agent. The parties hereto further agree that, notwithstanding any failure to take the actions required by the immediately preceding sentence, each Person which becomes a Subsidiary Guarantor at any time (and any security granted by any
such Person) shall be subject to the provisions hereof as fully as if same constituted a Grantor and had complied with the requirements of the immediately preceding sentence. 
 8.18 Collateral Agents. It is understood and agreed that (i) Jefferies Finance LLC is entering into this Agreement in its capacity as First Lien Collateral Agent and the rights, powers,
privileges and protections afforded to the “Agent” under Article IX of the First Lien Credit Agreement shall also apply to Jefferies Finance LLC as First Lien Collateral Agent hereunder, (ii) The Bank of New York Mellon is entering in
this Agreement in its capacity as “Notes Collateral Agent” under the Second Lien Notes Security Agreement and the other Second Lien Documents and the rights, powers, privileges, protections, immunities and benefits afforded to the
“Notes Collateral Agent” under the Second Lien Documents shall also apply to The Bank of New York Mellon, as the Second Lien Collateral Agent hereunder, and (iii) the Second Lien Noteholders have expressly authorized and instructed
the Second Lien Collateral Agent to execute and deliver this Agreement. In addition, but not in substitution of the foregoing and except as expressly provided in this Agreement, (x) the Second Lien Collateral Agent shall not be subject to any
fiduciary, trust or other implied duties to the First Lien Collateral Agent or the other First Lien Claimholders by reason of this Agreement and (y) the First Lien Collateral Agent shall not be subject to any fiduciary, trust or other implied
duties to the Second Lien Collateral Agent or the other Second Lien Claimholders by reason of this Agreement. 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

  

					
	First Lien Collateral Agent
	
	JEFFERIES FINANCE LLC,
	as First Lien Collateral Agent
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	Address for Notices:
	520 Madison Avenue
	New York, New York 10022
	Attention: Account Officer for KCG Holdings,
	Inc.
	Facsimile No.: (212) 284-3444
	
	Second Lien Collateral Agent
	
	 THE BANK OF NEW YORK MELLON,
 as Second Lien Collateral Agent

		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

 
					
		
	Address for Notices:	 	[            ]

  
 I-40

									
	Acknowledged and Agreed to by:
		
	KCG HOLDINGS, INC.	  	Notice Address:
		 		  		  		  	[    ]
	By:	 	  
	  		  		  	[    ]
		 	Name:	  		  		  	[    ]
		 	Title:	  		  		  	Attention: [    ]
		 		  		  		  	Facsimile No.: [    ]

 

									
	BLINK TRADING LLC	 		 		 		 	Notice Address:
		 		 		 		 	[c/o KCG Holdings, Inc.]
	GETCO HOLDING COMPANY, LLC	 		 		 		 	[    ]
		 		 		 		 	[    ]
	GETCO TRADING, LLC	 		 		 		 	Attention: [    ]
		 		 		 		 	Facsimile No.: [    ]
	GLOBAL COLOCATION SERVICES LLC	 		 		 		 	
					
	HOTSPOT FX HOLDINGS, INC.	 		 		 		 	
					
	KNIGHT CAPITAL GROUP, INC.	 		 		 		 	
					
	KNIGHT CAPITAL HOLDINGS LLC	 		 		 		 	
					
	KNIGHT FIXED INCOME HOLDINGS LLC	 		 		 		 	
					
	KNIGHT HOTSPOT FX LLC	 		 		 		 	
					
	KNIGHT LIBERTAS HOLDINGS LLC	 		 		 		 	
					
	KNIGHT QUANTITATIVE TRADING LLC	 		 		 		 	

  

			
	By:	 	  

		 	Name:
		 	Title:

  
 I-41

 ANNEX A 
 FORM OF SUPPLEMENT TO INTERCREDITOR AGREEMENT 
 This SUPPLEMENT TO THE
INTERCREDITOR AGREEMENT (this “Supplement”) is made on                  , 201     among: (i) KCG HOLDINGS, INC. (the
“Company”), (ii) [            ] (each a “Grantor” and collectively with the Company, the “Grantors”) and
(iii) [            ] (the “Pari Passu Agent”). 
 Reference is hereby made to that certain Intercreditor Agreement, dated as of July [    ], 2013 (as amended, the “Intercreditor Agreement”), among the Company, the
other Grantors, The Bank of New York Mellon, as collateral agent for the benefit of the holders of Second Lien Obligations (in such capacity, including any successor thereto in such capacity, the “Second Lien Collateral Agent”) and
Jefferies Finance LLC, as collateral agent for the benefit of the holders of First Lien Obligations (in such capacity, including any successor thereto in such capacity, the “First Lien Collateral Agent”). 

W I T N E S S E T H 
 WHEREAS, the Company and the other Grantors have entered into the Pari Passu Payment Lien Documents and it is a condition under the terms of the Intercreditor Agreement to the incurrence of New
Indebtedness identified below that this Supplement be executed and delivered to the First Lien Collateral Agent and the Second Lien Collateral Agent; 
 NOW, THEREFORE, in consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and valuable consideration, the sufficiency and receipt of which are hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 SECTION 1. Definitions. All
capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Intercreditor Agreement. As used in this Supplement, the following terms shall have the following definitions: 

“Borrowing Date” means the date on which the Pari Passu Payment Lien Documents are effective. 

“Holders” means the lenders or holders providing Pari Passu Indebtedness. 

“New Indebtedness” means any principal and interest payable to the Holders under the Pari Passu Payment Lien Documents
and any other obligations arising under Pari Passu Payment Lien Documents. 
 “Pari Passu Agent” means
[            ], as agent on behalf of the Holders providing Pari Passu Indebtedness. 
 “Pari Passu Payment Lien Documents” means the [            ], dated as of
[            ] and [list other documents executed and delivered in connection therewith]. 
 SECTION 2. Supplement. This Supplement is supplemental to the Intercreditor Agreement and is the supplement to be delivered pursuant to Section 2.5 of the Intercreditor Agreement in
connection with the New Indebtedness. The Pari Passu Agent hereby agrees to the terms of the Intercreditor Agreement as if it were a party thereto. 
 SECTION 3. Pari Passu Indebtedness. The Company hereby confirms that the Pari Passu Agent, the First Lien Collateral Agent and the other First Lien Claimholders and the Second Lien

  
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Collateral Agent and the other Second Lien Claimholders may conclusively rely on the representations set forth in the Officer’s Certificate attached hereto as Exhibit A certifying
that the New Indebtedness (a) complies with the requirements of the definition of “Pari Passu Indebtedness” under the Intercreditor Agreement and (b) does not exceed the Maximum Pari Passu Indebtedness Amount. Each of the Company
and the other Grantors hereby confirm that attached hereto as Exhibit B is a true, correct and complete copy of the Accession Agreement which was executed and delivered in connection with the New Indebtedness. 

SECTION 4. Effectiveness; Ratification. This Supplement shall become effective upon the later of (a) the receipt of this
Supplement by the First Lien Collateral Agent and the Second Lien Collateral Agent and (b) the Borrowing Date, and from and after the date hereof, the Pari Passu Agent and the Holders shall constitute “Additional Secured Parties” and
“Second Lien Claimholders” under the Intercreditor Agreement. 
 Any and all references to the “Intercreditor
Agreement” in the First Lien Loan Documents and the Second Lien Loan Documents shall mean the Intercreditor Agreement, as supplemented hereby. Except as supplemented by this Supplement, the Intercreditor Agreement remains unmodified and in full
force and effect and is hereby ratified, approved and confirmed as of the date hereof. 
 SECTION 5. Appointment of
Collateral Agent. The Pari Passu Agent, by its execution and delivery hereof (on behalf of itself and the Holders), authorizes and appoints The Bank of New York Mellon, as the Second Lien Collateral Agent, and directs the Second Lien Collateral
Agent to act on its behalf (and on behalf of the Holders) under the Intercreditor Agreement. In acting hereunder, the Second Lien Collateral Agent shall have all of the rights, benefits and immunities given to it under the Second Lien Notes
Indenture and the Security Documents, all of which are incorporated by reference herein. 
 The Second Lien Collateral Agent
shall be under no obligation to exercise any of the rights or powers vested in it by the Second Lien Notes Indenture, the Second Lien Security Documents or the Intercreditor Agreement at the request or direction of any Second Lien Noteholder or
Holder, unless such requesting or directing party shall have offered to the Second Lien Collateral Agent security or indemnity satisfactory to the Second Lien Collateral Agent against the costs, expenses and liabilities which might be incurred by it
in compliance with such request or direction; and no provision of the Intercreditor Agreement or any Second Lien Security Document shall require the Second Lien Collateral Agent to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risk or liability is
not reasonably assured to it. 
 SECTION 6. Governing Law. This Supplement shall in all respects be governed by the law
of the State of New York. 
 SECTION 7. Third Party Beneficiary. The Second Lien Noteholders and the other Second Lien
Claimholders and the First Lien Claimholders are intended third party beneficiaries of this Supplement. 

  
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 SECTION 8. Disclaimer. Neither the First Lien Collateral Agent nor the Second Lien
Collateral Agent shall be responsible for the validity or sufficiency of this Supplement or of the recitals hereto. 
 [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Supplement as of the date first
written above. 
  

			
	KCG HOLDINGS, INC., as Company
		
	By:	 	  

		 	Name:
		 	Title:
	
	[            ], as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	[            ], as Pari Passu Agent
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Acknowledged and Agreed:
	
	FIRST LIEN COLLATERAL AGENT:
	
	 JEFFERIES FINANCE LLC,
 as First Lien Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:
		 	Date:
	
	SECOND LIEN COLLATERAL AGENT:
	
	 THE BANK OF NEW YORK MELLON,
 as Second Lien Collateral Agent

		
	By:	 	  

		 	Name:
		 	Title:
		 	Date:

  
 I-45EX-4.8

 Exhibit 4.8 
 EXECUTION VERSION 
 FIRST SUPPLEMENTAL INDENTURE 

TO BE DELIVERED IN CONNECTION WITH THE KCG ASSUMPTION 
 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of July 1, 2013, between KCG Holdings, Inc. (the “Successor”) and The
Bank of New York Mellon, as trustee under the Indenture referred to below (the “Trustee”). Capitalized terms used herein without definition shall have the meanings ascribed to them in the Indenture. 

W I T N E S S E T H 
 WHEREAS, GETCO Financing Escrow LLC, a Delaware limited liability company (the “Company”) and the Trustee have entered into an indenture, dated as of June 5, 2013 (as amended,
supplemented or otherwise modified from time to time, the “Indenture”), providing for the issuance by the Company of its 8.250% Senior Secured Notes due 2018 (the “Notes”); 

WHEREAS, the Company and the Successor have entered into an Agreement and Plan of Merger, dated as of June 28, 2013 (the
“Merger Agreement”), which contemplates the filing of a certificate of merger with the Secretary of State of the State of Delaware providing for the merger (the “Merger”) of the Company with and into the Successor,
with the Successor continuing its corporate existence under the laws of the State of Delaware as the surviving company of the Merger; 
 WHEREAS, Section 5.01 of the Indenture provides, among other things, that the Company may merge with or into another Person; provided that, among other things, (i) the Person formed by
any merger with or into the Company (if other than the Company) expressly assumes all of the obligations of the Company under the Notes and the Indenture pursuant to agreements reasonably satisfactory to the Trustee and (ii) the Indenture, as
so supplemented, remains in full force and effect; 
 WHEREAS, Section 9.01 of the Indenture provides, among other things,
that the Indenture and Notes may be amended or supplemented without the consent of any Holder to provide for the assumption of the Company’s obligations to Holders in the case of a merger consummated pursuant to Article 5 of the Indenture;

 WHEREAS, the Successor desires and has requested that the Trustee join in the execution of this Supplemental Indenture for
the purpose of evidencing such assumption by the Successor; 
 WHEREAS, the execution and delivery of this Supplemental
Indenture has been authorized by resolutions of the board of directors of the Successor; and 
 WHEREAS, all conditions
precedent and requirements necessary to make this Supplemental Indenture a valid and legally binding instrument in accordance with its terms have been complied with, performed and fulfilled, and the execution and delivery hereof has been in all
respects duly authorized. 

 NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt and adequacy of which is hereby acknowledged, the Successor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders as follows: 

ARTICLE 1 

REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF THE SUCCESSOR 
 The Successor represents, warrants and agrees with the Trustee as follows: 

Section 1.1. It is a corporation duly organized, validly existing and in good standing under the laws of the State of
Delaware. 
 Section 1.2. The execution, delivery and performance by it of this Supplemental Indenture has been
authorized and approved by all necessary corporate action on its part and this Supplemental Indenture is its valid and legally binding obligation, enforceable against it in accordance with its terms. 

Section 1.3. The Merger will become effective in accordance with the laws of the State of Delaware when the certificate
of merger, with respect to the Merger, is accepted by the Secretary of State of the State of Delaware (the time the Merger becomes effective being the “Effective Time”). Notice of the Effective Time shall be promptly provided by the
Successor to the Trustee. 
 Section 1.4. The Indenture, as supplemented by this Supplemental Indenture, shall
remain in full force and effect in accordance with its terms immediately after the execution of this Supplemental Indenture. 

ARTICLE 2 

ASSUMPTION AND AGREEMENTS 
 Section 2.1. As of the Effective Time, the Successor hereby assumes the due and punctual payment of the principal of, premium, if any, and interest and Additional Interest, if any, on the
Notes, and the due and punctual performance and observance of all other covenants, conditions and other obligations contained in the Indenture, the Collateral Documents and the Registration Rights Agreement on the part of the Company to be performed
or observed. 
 Section 2.2. Notes authenticated and delivered after the execution of this Supplemental
Indenture may, and shall, if required by the Trustee, bear a notation in form approved by the Trustee as to any matter provided for in this Supplemental Indenture. 
 Section 2.3. The Successor shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture and the Notes, with the same effect as if
the Successor had been named as “the Company” therein. 
 ARTICLE 3 

MISCELLANEOUS 

Section 3.1. EFFECTIVENESS. This Supplemental Indenture shall be effective upon execution by the parties
hereto. 
 Section 3.2. RECITALS. The recitals contained herein shall be taken as the statements of
the Successor, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. 

Section 3.3. GOVERNING LAW. THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE CONFLICT OF
LAWS PRINCIPLES THEREOF SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE. 

 Section 3.4. COUNTERPARTS. The parties may sign any number of
copies of this Supplemental Indenture (including by electronic transmission). Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages
by facsimile or PDF transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties
hereto transmitted by facsimile or PDF shall be deemed to be their original signatures for all purposes. 

Section 3.5. EFFECT OF HEADINGS. The Section headings herein are for convenience
only and shall not affect the construction hereof. 
 Section 3.6. The Indenture, as supplemented hereby, shall
remain in full force and effect and is hereby ratified and confirmed. 

  
 [Signature
pages follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the day and year first above written. 
  

			
	KCG Holdings, Inc., as the Successor
		
	By:	 	 /s/ John McCarthy

		 	 Name:  John McCarthy

		 	 Title:    General Counsel and Secretary

  

 
			
	THE BANK OF NEW YORK MELLON, as Trustee
		
	By:	 	 /s/ Francine Kincaid

		 	Name: Francine Kincaid
		 	Title: Vice President

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