Document:

EX-10.21

 Exhibit 10.21 

EXECUTION VERSION 
  

 
  

ABL SECURITY AGREEMENT 
 among

 SHAY INTERMEDIATE HOLDING II CORPORATION, 

PAE HOLDING CORPORATION, 
 CERTAIN
OTHER SUBSIDIARIES OF PAE HOLDING CORPORATION 
 and 

BANK OF AMERICA, N.A., 
 as
COLLATERAL AGENT 
  
  

Dated as of October 20, 2016 
  

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		  	ARTICLE I	  			
			
		  	SECURITY INTERESTS	  			
			
	 1.1
	  	 Grant of Security Interests
	  	 	6	 
	 1.2
	  	 Certain Exceptions
	  	 	7	 
	 1.3
	  	 Power of Attorney
	  	 	9	 
	 1.4
	  	 Perfection Certificate
	  	 	9	 
		  	ARTICLE II	  			
			
		  	GENERAL REPRESENTATIONS, WARRANTIES AND COVENANTS	  			
			
	 2.1
	  	 Necessary Perfection Action
	  	 	9	 
	 2.2
	  	 No Liens
	  	 	10	 
	 2.3
	  	 Other Financing Statements
	  	 	10	 
	 2.4
	  	 Chief Executive Office, Record Locations
	  	 	10	 
	 2.5
	  	 Location of Goods, Inventory and Equipment
	  	 	10	 
	 2.6
	  	 Legal Names; Type of Organization (and Whether a Registered Organization); Jurisdiction of
Organization; Location; Organizational Identification Numbers; Federal Employer Identification Number; Changes Thereto; etc.
	  	 	10	 
	 2.7
	  	 [Reserved]
	  	 	11	 
	 2.8
	  	 Certain Significant Transactions
	  	 	11	 
	 2.9
	  	 As-Extracted Collateral; Timber-to-be-Cut
	  	 	11	 
	 2.10
	  	 Collateral in the Possession of a Bailee
	  	 	11	 
	 2.11
	  	 Recourse
	  	 	11	 
		  	ARTICLE III	  			
			
		  	SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS;	  			
		  	INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL	  			
			
	 3.1
	  	 [Reserved]
	  	 	12	 
	 3.2
	  	 Maintenance of Records
	  	 	12	 
	 3.3
	  	 Direction to Account Debtors; Contracting Parties; etc.
	  	 	12	 
	 3.4
	  	 Modification of Terms; etc.
	  	 	12	 
	 3.5
	  	 Collection
	  	 	13	 
	 3.6
	  	 Instruments
	  	 	13	 
	 3.7
	  	 Grantors Remain Liable Under Accounts
	  	 	13	 
	 3.8
	  	 Grantors Remain Liable Under Contracts
	  	 	14	 
	 3.9
	  	 Deposit Accounts; Etc.
	  	 	14	 
	 3.10
	  	 [Reserved]
	  	 	14	 
	 3.11
	  	 Commercial Tort Claims
	  	 	14	 
	 3.12
	  	 Chattel Paper
	  	 	14	 
	 3.13
	  	 Further Actions
	  	 	15	 

  
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		  	ARTICLE IV	  			
			
		  	SPECIAL PROVISIONS CONCERNING TRADEMARKS AND DOMAIN NAMES	  			
			
	 4.1
	  	 Additional Representations and Warranties
	  	 	15	 
	 4.2
	  	 Assignments
	  	 	15	 
	 4.3
	  	 Infringements
	  	 	15	 
	 4.4
	  	 Preservation of Marks
	  	 	16	 
	 4.5
	  	 Maintenance of Registration
	  	 	16	 
	 4.6
	  	 Future Registered Marks and Domain Names
	  	 	16	 
	 4.7
	  	 Remedies
	  	 	16	 
			
		  	ARTICLE V	  			
			
		  	SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS	  			
			
	 5.1
	  	 Additional Representations and Warranties
	  	 	17	 
	 5.2
	  	 Assignments
	  	 	17	 
	 5.3
	  	 Infringements
	  	 	17	 
	 5.4
	  	 Maintenance of Patents or Copyrights
	  	 	17	 
	 5.5
	  	 Prosecution of Patent or Copyright Applications
	  	 	18	 
	 5.6
	  	 Other Patents and Copyrights
	  	 	18	 
	 5.7
	  	 Remedies
	  	 	18	 
			
		  	ARTICLE VI	  			
			
		  	PROVISIONS CONCERNING ALL COLLATERAL	  			
			
	 6.1
	  	 Protection of Collateral Agent’s Security
	  	 	18	 
	 6.2
	  	 Warehouse Receipts Non-Negotiable
	  	 	19	 
	 6.3
	  	 Additional Information
	  	 	19	 
	 6.4
	  	 Further Actions
	  	 	19	 
	 6.5
	  	 Financing Statements
	  	 	19	 
			
		  	ARTICLE VII	  			
			
		  	REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT	  			
			
	 7.1
	  	 Remedies; Obtaining the Collateral Upon an Event of Default
	  	 	19	 
	 7.2
	  	 Remedies; Disposition of the Collateral
	  	 	21	 
	 7.3
	  	 Waiver of Claims
	  	 	21	 
	 7.4
	  	 Application of Proceeds
	  	 	22	 
	 7.5
	  	 Remedies Cumulative
	  	 	22	 
	 7.6
	  	 Discontinuance of Proceedings
	  	 	22	 
			
		  	ARTICLE VIII	  			
			
		  	INDEMNITY	  			
			
	 8.1
	  	 Indemnity
	  	 	23	 
	 8.2
	  	 Indemnity Obligations Secured by Collateral; Survival
	  	 	23	 

  
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		  	ARTICLE IX	  			
			
		  	DEFINITIONS	  			
			
		  	ARTICLE X	  			
			
		  	MISCELLANEOUS	  			
			
	 10.1
	  	 Notices
	  	 	28	 
	 10.2
	  	 Waiver; Amendment
	  	 	29	 
	 10.3
	  	 Obligations Absolute
	  	 	29	 
	 10.4
	  	 Successors and Assigns
	  	 	29	 
	 10.5
	  	 Headings Descriptive
	  	 	30	 
	 10.6
	  	 GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL
	  	 	30	 
	 10.7
	  	 Grantor’s Duties
	  	 	31	 
	 10.8
	  	 Termination; Release
	  	 	31	 
	 10.9
	  	 Counterparts
	  	 	32	 
	 10.10
	  	 Severability
	  	 	32	 
	 10.11
	  	 The Collateral Agent and the other Secured Creditors
	  	 	32	 
	 10.12
	  	 Additional Grantors
	  	 	32	 
	 10.13
	  	 Intercreditor Agreement
	  	 	32	 

  

			
	 EXHIBIT A
	  	 Form of ABL Copyright Security Agreement

	 EXHIBIT B
	  	 Form of ABL Patent Security Agreement

	 EXHIBIT C
	  	 Form of ABL Trademark Security Agreement

	 EXHIBIT D
	  	 Form of Joinder Agreement

  
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 ABL SECURITY AGREEMENT 

ABL SECURITY AGREEMENT, dated as of October 20, 2016, made by each of the undersigned grantors (each, a “Grantor” and,
together with any other entity that becomes a grantor hereunder pursuant to Section 10.12 hereof, the “Grantors”) in favor of Bank of America, N.A., as Collateral Agent (together with any successor collateral agent, the
“Collateral Agent”), for the benefit of the Secured Creditors (as defined below). Certain capitalized terms as used herein are defined in Article IX hereof. Except as otherwise defined herein, all capitalized terms used herein and
defined in the Credit Agreement (as defined below) shall be used herein as therein defined. 
 W I T N E
S S E T H: 
 WHEREAS, Shay Intermediate Holding II Corporation, a Delaware corporation
(“Holdings”), PAE Holding Corporation, a Delaware corporation (the “Lead Borrower”), the other borrowers party thereto (each, a “Subsidiary Borrower” and together with the Lead Borrower, the
“Borrowers”), the lenders party thereto from time to time (the “Lenders”), Bank of America, N.A., as administrative agent (together with any successor administrative agent, the “Administrative
Agent”), Collateral Agent, Issuing Bank and Swingline Lender, Bank of America, N.A., Citizens Bank, National Association, SunTrust Robinson Humphrey, Inc. and Morgan Stanley Senior Funding, Inc., as Joint Lead Arrangers and Bookrunners, and
Bank of America, N.A., Citizens Bank, National Association, SunTrust Bank and Morgan Stanley Senior Funding, Inc., as Co-Documentation Agents and Co-Syndication Agents,
have entered into a Revolving Credit Agreement, dated as of October 20, 2016 (as amended, modified, restated and/or supplemented from time to time, the “Credit Agreement”), providing for the making of Revolving Loans to, and
the issuance of Letters of Credit on behalf of, the Borrowers, as contemplated therein (the Lenders, each Issuing Bank, the Swingline Lender, the Administrative Agent, the Collateral Agent and each other Agent are herein called the “Lender
Creditors”); 
 WHEREAS, the Lead Borrower and/or one or more of its Subsidiaries may at any time and from time to time enter into
one or more Secured Bank Product Obligations with Secured Bank Product Providers (such Secured Bank Product Providers, if any, collectively, the “Other Creditors” and, together with the Lender Creditors, the “Secured
Creditors”); 
 WHEREAS, pursuant to the Credit Agreement Party Guaranty, each of Holdings and the Borrowers has guaranteed to the
Secured Creditors the payment when due of all of its Relevant Guaranteed Obligations; 
 WHEREAS, pursuant to the Subsidiaries Guaranty,
each of the Subsidiary Guarantors has jointly and severally guaranteed to the Secured Creditors the payment when due of all of its Relevant Guaranteed Obligations; 

WHEREAS, it is a condition precedent to the making of Revolving Loans to, and the issuance of Letters of Credit on behalf of, the Borrowers
under the Credit Agreement and to the Other Creditors entering into Secured Bank Product Obligations that each Grantor shall have executed and delivered to the Collateral Agent this Agreement; and 

WHEREAS, each Grantor will obtain benefits from the incurrence of Revolving Loans by, and the issuance of Letters of Credit to, the Borrowers
under the Credit Agreement and the entering into by the Lead Borrower and/or one or more of its Subsidiaries of Secured Bank Product Obligations and, accordingly, desires to execute this Agreement in order to satisfy the condition described in the
preceding paragraph and to induce the Lenders to make Revolving Loans to, and issue Letters of Credit to, the Borrowers and the Other Creditors to enter into Secured Bank Product Obligations with the Lead Borrower and/or one or more of its
Subsidiaries; 

  
 5 

 NOW, THEREFORE, in consideration of the benefits accruing to each Grantor, the receipt and
sufficiency of which are hereby acknowledged, each Grantor hereby makes the following representations and warranties to the Collateral Agent for the benefit of the Secured Creditors and hereby covenants and agrees with the Collateral Agent for the
benefit of the Secured Creditors as follows: 
 ARTICLE I 

SECURITY INTERESTS 
 1.1 Grant
of Security Interests. 
 (a) As security for the prompt and complete payment or performance, as the case may be, when due of all of the
Obligations, each Grantor does hereby pledge and grant to the Collateral Agent, for the benefit of the Secured Creditors, a continuing security interest in all of the right, title and interest of such Grantor in, to and under all of the following
personal property and fixtures (and all rights therein) of such Grantor, or in which or to which such Grantor has any rights, in each case whether now existing or hereafter from time to time acquired (but excluding any Excluded Collateral (as
defined below)): 
 (i) each and every Account; 

(ii) all cash; 

(iii) the Dominion Account and all monies, securities, Instruments and other investments deposited or required to be deposited
in the Dominion Account; 
 (iv) all Chattel Paper (including, without limitation, all Tangible Chattel Paper and all
Electronic Chattel Paper); 
 (v) all Commercial Tort Claims set forth on Schedule 12 of the Perfection Certificate; 

(vi) all Software of such Grantor and all intellectual property rights therein (including all Software licensing rights) and
all other proprietary information of such Grantor, including but not limited to all writings, plans, specifications and schematics, all engineering drawings, customer lists, Domain Names and Trade Secret Rights, with respect to each of the foregoing
solely to the extent such rights or items subsist or arise under the laws of the United States; 
 (vii) Contracts, together
with all Contract Rights arising thereunder; 
 (viii) all Copyrights; 

(ix) all Equipment and Fixtures; 

(x) all Deposit Accounts and all other demand, deposit, time, savings, cash management, passbook and similar accounts
maintained by such Grantor with any Person and all monies; 

  
 6 

 (xi) all Documents; 

(xii) all General Intangibles; 

(xiii) all Goods; 

(xiv) all Instruments; 

(xv) all Inventory; 

(xvi) all Investment Property; 

(xvii) all Letter-of-Credit Rights (whether or
not the respective letter of credit is evidenced by a writing); 
 (xviii) all Marks, together with the goodwill of the
business of such Grantor symbolized by the Marks; 
 (xix) all Patents; 

(xx) all Permits; 

(xxi) all Supporting Obligations; and 

(xxii) all Proceeds and products of any and all of the foregoing (all of the above, the “Collateral”). 

(b) The security interest of the Collateral Agent under this Agreement extends to all Collateral that any Grantor may acquire, or with respect
to which any Grantor may obtain rights, at any time during the term of this Agreement. 
 1.2 Certain Exceptions. Notwithstanding
Section 1.1, no security interest is or will be granted pursuant hereto in any right, title or interest of any Grantor in, to or under (each of (a) through (o) collectively, the “Excluded Collateral”): 

(a) any fee-owned real property or any real property leasehold interests; 

(b) interest in any contracts (including Contracts and Contract Rights), permits (including Permits), licenses, Accounts,
General Intangibles (other than any Equity Interests), Payment Intangibles, Chattel Paper, Letter-of-Credit Rights and Promissory Notes if the grant of a security
interest or Lien therein is prohibited as a matter of law or under the terms of such contracts (including Contracts and Contract Rights), permits (including Permits), licenses, Accounts, General Intangibles, Payment Intangibles, Chattel Paper, Letter-of-Credit Rights and Promissory Notes, in each case after giving effect to Article 9 of the applicable Uniform Commercial Code, other applicable law and principles of
equity; 
 (c) the Voting Equity Interests of (i) any first-tier Foreign Subsidiary that is a CFC or of a FSHCO in
excess of 65% of the outstanding Voting Equity Interests thereof and (ii) any Subsidiary of (x) a Foreign Subsidiary that is a CFC or (y) a FSHCO; 

(d) assets subject to Capitalized Lease Obligations, purchase money financing and cash to secure letter of credit reimbursement
obligations to the extent such Capitalized Lease Obligations, purchase money financing or letters of credit are permitted under the Credit Agreement and the terms thereof prohibit a grant of a security interest therein; 

  
 7 

 (e) assets sold to a person who is not a Credit Party in compliance with the
Credit Agreement; 
 (f) assets owned by a Guarantor after the release of the guaranty of the Obligations of such Guarantor
pursuant to the Credit Agreement; 
 (g) motor vehicles (including Vehicles) and other goods subject to certificates of title
other than to the extent a security interest therein can be perfected by a UCC filing; 
 (h) any application for
registration of a trademark filed with the United States Patent and Trademark Office (“PTO”) on an intent-to-use basis until such time (if any) as a
statement of use or amendment to allege use is accepted by the PTO, at which time such trademark shall automatically become part of the Collateral and subject to the security interest of this Agreement; 

(i) Equity Interests in any Person other than Wholly-Owned Subsidiaries to the extent a pledge thereof is not permitted by the
terms of such Subsidiary’s organizational or joint venture documents, after giving effect to Article 9 of the applicable Uniform Commercial Code; 

(j) Letter-of-Credit Rights with a value of
less than $1,000,000 (to the extent a security interest therein cannot be perfected by a UCC filing) and Commercial Tort Claims with a value (as determined in good faith by the Lead Borrower) of less than $5,000,000; 

(k) those assets as to which the Administrative Agent and the Lead Borrower reasonably and mutually agree in writing that the
cost of obtaining such a security interest or perfection thereof are excessive in relation to the benefit to the Lenders of the security to be afforded thereby; 

(l) “margin stock” (within the meaning of Regulation U); 

(m) Excluded Deposit Accounts described in clauses (i) through (iii) of the definition thereof; 

(n) Equity Interests of Unrestricted Subsidiaries; 

(o) any segregated deposits that constitute Permitted Liens under clause (iii), (xii), (xiv), (xv), (xxviii), (xxxi), (xxxvi),
(xxxviii) or (xlii) of Section 10.01 of the Credit Agreement, in each case, that are prohibited from being subject to other Liens; and 

(p) any asset to the extent the granting of a security interest in such asset results in material adverse tax consequence to
Holdings, the Lead Borrower and/or its Subsidiaries, as reasonably determined in good faith by the Lead Borrower in consultation with the Administrative Agent; 

provided, however, that Excluded Collateral shall not include any Proceeds, substitutions or replacements of any Excluded Collateral referred to
in any of clauses (a) through (p) (unless such Proceeds, substitutions or replacements would constitute Excluded Collateral referred to in any of clauses (a) through (p)). Notwithstanding anything to the contrary contained herein or in any
other Credit Document, (i) no Grantor shall be required to perfect the security interest in Fixtures, except to the extent that the same are Equipment or are related to or located on Material Real Property, other than by the filing of a UCC
financing statement and (ii) no Grantor shall be required to take any action with respect to the creation or perfection of a security interest or Liens under foreign law with respect to any Collateral. 

  
 8 

 1.3 Power of Attorney. Subject to the terms of the Intercreditor Agreement, each
Grantor hereby constitutes and appoints the Collateral Agent its true and lawful attorney, irrevocably, with full power after the occurrence of and during the continuance of an Event of Default (in the name of such Grantor or otherwise) to act,
require, demand, receive, compound and give acquittance for any and all moneys and claims for moneys due or to become due to such Grantor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection
therewith and to file any claims or take any action or institute any proceedings which the Collateral Agent may deem to be reasonably necessary or advisable to protect the interests of the Secured Creditors, which appointment as attorney is coupled
with an interest. 
 1.4 Perfection Certificate. The Collateral Agent and each Secured Creditor agree that the Perfection Certificate
and all descriptions of Collateral, schedules, amendments and supplements thereto are and shall at all times remain a part of this Agreement. 

ARTICLE II 
 GENERAL
REPRESENTATIONS, WARRANTIES AND COVENANTS 
 Each Grantor represents and warrants as of the date hereof, and, until the Termination Date,
covenants, which representations, warranties and covenants shall survive execution and delivery of this Agreement, as follows: 
 2.1
Necessary Perfection Action. The security interest granted to the Collateral Agent pursuant to this Agreement in and to the Collateral for the benefit of the Collateral Agent and the Secured Creditors creates a valid security interest and
Lien upon such Grantor’s right, title and interest in and to the Collateral. Except to the extent perfection is not required hereunder, such security interest will be duly perfected (A) upon the filing of the UCC financing statements
delivered to the Collateral Agent for filing in the appropriate jurisdictions set forth on Schedule 6 of the Perfection Certificate, (B) in Deposit Accounts upon the obtaining and maintenance of “control” (as described in the UCC as
in effect on the date hereof in the State of New York) by the Collateral Agent (it being understood that, notwithstanding anything to the contrary contained in this Agreement or any other Credit Document, no “control” over any Excluded
Deposit Accounts shall be required), (C) upon the recordation of a short form security agreement with respect to the U.S. registered intellectual property disclosed in Schedules 11(a) and 11(b) of the Perfection Certificate in the PTO or the United
States Copyright Office, as the case may be; provided, however, that additional filings may be necessary to perfect the Collateral Agent’s security interest in, and Lien on, any Patents, Marks, Copyrights, Domain Names, Trade
Secret Rights and other intellectual property acquired after the date hereof, and (D) upon the receipt by the Collateral Agent of all Instruments, Chattel Paper and certificated pledged Equity Interests that constitute “securities”
governed by Article 8 of the UCC, in each case constituting Collateral in suitable form for transfer by delivery or accompanied by instruments of transfer or assignment duly executed in blank. 

Upon the taking of the actions under this Section 2.1, such security interest will be superior to and prior to all other Liens of all
other Persons (other than Permitted Liens), and enforceable as such as against all other Persons (except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or at law)) other than Ordinary Course Transferees. 

  
 9 

 2.2 No Liens. Such Grantor is, and as to all Collateral acquired by it from time to
time after the date hereof such Grantor will be, the owner of, or otherwise have the right to use, all Collateral free from any Lien of any Person (other than Permitted Liens), and such Grantor shall, at its own expense, take all commercially
reasonable actions necessary to defend the Collateral against all claims and demands of all Persons at any time claiming the same or any interest therein materially adverse to the Collateral Agent (other than Permitted Liens). 

2.3 Other Financing Statements. As of the date hereof, no Grantor has filed, nor authorized the filing by any third party of any
financing statement (or similar statement or instrument of registration under the law of any jurisdiction) covering or purporting to cover any interest of any kind in the Collateral (other than financing statements or other statements or instruments
of registration under the law of any jurisdiction filed in respect of Permitted Liens), and so long as the Termination Date has not occurred, such Grantor will not authorize 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 the Collateral, except financing statements filed or to be filed in respect of and covering the security interests granted hereby by such Grantor or in connection
with Permitted Liens. 
 2.4 Chief Executive Office, Record Locations. The chief executive office of such Grantor is, on the date of
this Agreement, located at the address indicated on Schedule 2(a) of the Perfection Certificate for such Grantor. During the period of the four calendar months preceding the date of this Agreement, the chief executive office of such Grantor has not
been located at any address other than that indicated on Schedule 2(a) of the Perfection Certificate in accordance with the immediately preceding sentence, in each case unless each such other address is also indicated on Schedule 2(a) of the
Perfection Certificate for such Grantor. 
 2.5 Location of Goods, Inventory and Equipment. All Goods, Inventory and Equipment
(having a fair market value in excess of $3,000,000 with respect to Collateral comprising Goods, Inventory and Equipment only) held on the date hereof, or held at any time during the four calendar months prior to the date hereof, by each Grantor,
other than Goods, Inventory or Equipment in transit, out for repair or refurbishment, books and records temporarily located at the offices of such Grantor’s attorneys or accountants, or moved in the ordinary course of business, is located at
one of the locations shown on Schedule 2(b) of the Perfection Certificate for such Grantor. 
 2.6 Legal Names; Type of Organization (and
Whether a Registered Organization); Jurisdiction of Organization; Location; Organizational Identification Numbers; Federal Employer Identification Number; Changes Thereto; etc. As of the Closing Date, the exact legal name of each Grantor as such
name appears in its public organic record, the type of organization of such Grantor, whether or not such Grantor is a Registered Organization, the jurisdiction of organization of such Grantor, such Grantor’s Location, the organizational
identification number (if any) to the extent required on the relevant UCC financing statement of such Grantor and the Federal Employer Identification Number of such Grantor (if any), is listed on Schedule 1(a) of the Perfection Certificate for such
Grantor. Such Grantor shall not change its legal name as such name appears in its respective public organic record, its type of organization, its status as a Registered Organization (in the case of a Registered Organization), its jurisdiction of
organization, its Location, its organizational identification number (if any) to the extent required on the relevant UCC financing statement of such Grantor or its Federal Employer Identification Number (if any) from that used on Schedule 1(a) of
the Perfection Certificate, except that any such changes shall be permitted (so long as not in violation of the applicable requirements of the Secured Debt Agreements and so long as same do not involve (x) a Registered Organization ceasing to
constitute same or (y) such Grantor changing its jurisdiction of organization or Location from the United States or a State thereof to a jurisdiction of organization or Location, as the case may be, outside the United States or a State thereof)
if (i) it shall have given to the Collateral Agent written notice of each change to the 

  
 10 

 
information listed on Schedule 1(a) of the Perfection Certificate (as adjusted for any subsequent changes thereto previously made in accordance with this sentence), together with a supplement to
Schedule 1(a) of the Perfection Certificate which shall update all information contained therein for such Grantor within 30 days of such change (or such longer period as agreed to by the Collateral Agent) and (ii) in connection with such change
or changes, it shall take all action reasonably requested by the Collateral Agent to maintain the security interests of the Collateral Agent in the Collateral intended to be granted hereby at all times fully perfected to the extent described in
Section 2.1 and in full force and effect. 
 2.7 [Reserved]. 

2.8 Certain Significant Transactions. During the five-year period preceding the date of this Agreement, no Person shall have merged or
consolidated with or into any Grantor, and no Person shall have liquidated into, or transferred all or substantially all of its assets to, any Grantor, in each case except the mergers and consolidations contemplated by the Transaction and the
mergers and consolidations described in Schedule 3 of the Perfection Certificate. With respect to any transactions so described in Schedule 3 of the Perfection Certificate, the respective Grantor shall have furnished such information with respect to
the Person (and the assets of the Person and locations thereof) which merged with or into or consolidated with such Grantor, or was liquidated into or transferred all or substantially all of its assets to such Grantor, and shall have furnished to
the Collateral Agent such UCC lien searches as may have been reasonably requested by the Collateral Agent or Administrative Agent with respect to such Person and its assets, to establish that no security interest (excluding Permitted Liens)
continues perfected on the date hereof with respect to any Person described above (or the assets transferred to the respective Grantor by such Person), including without limitation pursuant to
Section 9-316(a)(3) of the UCC. 
 2.9 As-Extracted
Collateral; Timber-to-be-Cut. On the date hereof, such Grantor does not own, or expect to acquire, any material property
which constitutes, or would constitute, As-Extracted Collateral or Timber-to-be-Cut. 

2.10 Collateral in the Possession of a Bailee. If any Inventory or other Goods, the aggregate fair market value of which is equal to or
greater than $3,000,000, are at any time in the possession of a bailee, such Grantor shall on or prior to the next Quarterly Update Date furnish the Collateral Agent with written notice thereof and, if requested by the Collateral Agent after an
Event of Default has occurred and is continuing, shall use its reasonable efforts to promptly obtain an acknowledgment from such bailee, in form and substance reasonably satisfactory to the Collateral Agent, that the bailee holds such Collateral for
the benefit of the Collateral Agent and shall act upon the instructions of the Collateral Agent, without the further consent of such Grantor, subject to the Intercreditor Agreement. The Collateral Agent agrees with such Grantor that the Collateral
Agent shall not give any such instructions unless an Event of Default has occurred and is continuing and upon notice from the Collateral Agent of its intent to exercise remedies. 

2.11 Recourse. This Agreement is made with full recourse to each Grantor and pursuant to and upon all the warranties, representations,
covenants and agreements on the part of such Grantor contained herein, in the Secured Debt Agreements and otherwise in writing in connection herewith or therewith. 

  
 11 

 ARTICLE III 

SPECIAL PROVISIONS CONCERNING ACCOUNTS; CONTRACT RIGHTS; 

INSTRUMENTS; CHATTEL PAPER AND CERTAIN OTHER COLLATERAL 

3.1 [Reserved]. 
 3.2
Maintenance of Records. Each Grantor will keep proper books of record and accounts, in which full, true and correct entries in conformity with U.S. GAAP and all material Requirements of Law shall be made of all dealings and transactions in
relation to its business and activities, and such Grantor will make the same available on such Grantor’s premises to officers and designated representatives of the Collateral Agent for inspection in accordance with the terms and conditions set
forth in the Credit Agreement. Upon the occurrence and during the continuance of an Event of Default and at the request of the Collateral Agent, such Grantor shall, at its own cost and expense, deliver all tangible evidence of its Accounts and
Contract Rights (including, without limitation, all documents evidencing the Accounts and all Contract Rights) and such books and records to the Collateral Agent or to its representatives (copies of which evidence and books and records may be
retained by such Grantor). Subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of an Event of Default and if the Collateral Agent so requests, such Grantor shall legend, in form and manner reasonably
satisfactory to the Collateral Agent, the Accounts and the Contracts, as well as books, records and documents (if any) of such Grantor evidencing or pertaining to such Accounts and Contracts with an appropriate reference to the fact that such
Accounts and Contracts have been assigned to the Collateral Agent and that the Collateral Agent has a security interest therein. 
 3.3
Direction to Account Debtors; Contracting Parties; etc. Subject to the terms of the Intercreditor Agreement, (a) upon the occurrence and during the continuance of an Event of Default, after giving notice to the relevant Grantor of its
intent to do so, if the Collateral Agent so directs any Grantor, and (b) as otherwise required pursuant to Section 9.17(c) of the Credit Agreement, such Grantor agrees (i) to cause all payments on account of the Accounts and Contracts
to be made directly to the Dominion Account, (ii) that the Collateral Agent may, at its option, directly notify the obligors in its own name or in the name of others with respect to any Accounts and/or under any Contracts to make payments with
respect thereto as provided in the preceding clause (i), and (iii) that the Collateral Agent may enforce collection of any such Accounts and Contracts and may adjust, settle or compromise the amount of payment thereof, in the same manner and to
the same extent as such Grantor; provided that, (x) any failure by the Collateral Agent to give or any delay in giving such notice (including pursuant to Section 9.17(c) of the Credit Agreement) to the relevant Grantor shall not
affect the effectiveness of such notice or the other rights of the Collateral Agent created by this Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 11.05 of the Credit
Agreement has occurred and is continuing. Without notice to or assent by any Grantor, the Collateral Agent may, upon the occurrence and during the continuance of a Liquidity Period or an Event of Default, apply any or all amounts then in, or
thereafter deposited in, the Dominion Account toward the payment of the Obligations in the manner provided in Section 7.4 of this Agreement and/or Section 9.17 of the Credit Agreement (as applicable). The reasonable costs and expenses of
collection (including reasonable attorneys’ fees), whether incurred by a Grantor or the Collateral Agent, shall be borne by the relevant Grantor. The Collateral Agent shall deliver a copy of each notice referred to in the preceding clause
(y) to the relevant Grantor, provided that (x) the failure by the Collateral Agent to so notify such Grantor shall not affect the effectiveness of such notice or the other rights of the Collateral Agent created by this
Section 3.3 and (y) no such notice shall be required if an Event of Default of the type described in Section 11.05 of the Credit Agreement has occurred and is continuing. 

3.4 Modification of Terms; etc. Except in accordance with such Grantor’s ordinary course of business, or consistent with
reasonable business judgment or as permitted by Section 3.5 or the Credit Documents, no Grantor shall rescind or cancel any indebtedness evidenced by any Account, or modify any material term thereof or make any material adjustment with respect
thereto, or extend or renew the same, or compromise or settle any material dispute, claim, suit or legal proceeding relating thereto, or sell any Account, or interest therein, without the prior written consent of the Collateral Agent unless such
rescissions, cancellations, modifications, adjustments, extensions, renewals, compromises, settlements, releases, or sales would not reasonably be expected to materially adversely affect the value of the Accounts constituting Collateral taken as a
whole. 

  
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 3.5 Collection. Each Grantor shall endeavor in accordance with historical business
practices or otherwise in accordance with reasonable business judgment to cause to be collected from the Account Debtor named in each of its Accounts or obligor under any Contract, as and when due (including, without limitation, amounts which are
delinquent, such amounts to be collected in accordance with generally accepted lawful collection procedures) any and all amounts owing under or on account of such Account or Contract, and apply forthwith upon receipt thereof all such amounts as are
so collected to the outstanding balance of such Account or under such Contract. Except as otherwise directed by the Collateral Agent after the occurrence and during the continuation of an Event of Default or otherwise required pursuant to the Credit
Agreement, any Grantor may allow in the ordinary course of business as adjustments to amounts owing under its Accounts and Contracts (i) an extension or renewal of the time or times of payment, or settlement for less than the total unpaid
balance, which such Grantor finds appropriate in accordance with reasonable business judgment, (ii) a refund or credit due as a result of returned or damaged merchandise or improperly performed services or for other reasons which such Grantor
finds appropriate in accordance with reasonable business judgment and (iii) any other adjustments necessary or desirable in the Grantor’s reasonable business judgment. The reasonable costs and expenses (including, without limitation,
reasonable attorneys’ fees) of collection, whether incurred by a Grantor or the Collateral Agent, shall be borne by the relevant Grantor (in the case of any such costs and expenses incurred by the Collateral Agent, in accordance with the terms
and provisions of Section 13.01 of the Credit Agreement). 
 3.6 Instruments. If any Grantor at any time holds or acquires any
Instrument constituting Collateral with a face value in excess of $1,000,000 individually (other than checks received and collected in the ordinary course of business), such Grantor shall, on or prior to the next Quarterly Update Date, notify the
Collateral Agent thereof, and upon request by the Collateral Agent (subject to the Intercreditor Agreement), promptly deliver such Instrument to the Collateral Agent appropriately endorsed in blank or to the order of the Collateral Agent,
provided that, so long as no Event of Default shall have occurred and be continuing, such Grantor may retain for collection in the ordinary course of business any Instrument received by such Grantor in the ordinary course of business, and the
Collateral Agent shall, promptly upon request of such Grantor, make appropriate arrangements for making any Instruments in its possession and pledged by such Grantor available to such Grantor for purposes of presentation, collection or renewal. If
such Grantor retains possession of any Instruments pursuant to the terms hereof, upon request of the Collateral Agent, such Instrument shall be marked with the following legend: “This writing and the obligations evidenced or secured hereby are
subject to the security interests of Bank of America, N.A., as collateral agent, for the benefit of itself and certain Secured Creditors.” 

3.7 Grantors Remain Liable Under Accounts. Anything herein to the contrary notwithstanding, the Grantors shall remain liable under each
of the Accounts to observe and perform all of the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise to such Accounts. Neither the Collateral Agent nor any other
Secured Creditor shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Agreement, nor shall the Collateral Agent or any other Secured Creditor be obligated in any manner
to perform any of the obligations of any Grantor under or pursuant to any Account (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by them or as to the
sufficiency of any performance by any party under any Account (or any agreement giving rise thereto), to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned
to them or to which they may be entitled at any time or times. 

  
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 3.8 Grantors Remain Liable Under Contracts. Anything herein to the contrary
notwithstanding, the Grantors shall remain liable under each of the Contracts to observe and perform all of the conditions and obligations to be observed and performed by them thereunder, all in accordance with and pursuant to the terms and
provisions of each Contract. Neither the Collateral Agent nor any other Secured Creditor shall have any obligation or liability under any Contract by reason of or arising out of this Agreement, nor shall the Collateral Agent or any other Secured
Creditor be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Contract, to make any payment, to make any inquiry as to the nature or the sufficiency of any performance by any party under any Contract,
to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to them or to which they may be entitled at any time or times. 

3.9 Deposit Accounts; Etc. 

(a) Schedule 13 of the Perfection Certificate accurately sets forth, as of the date of this Agreement, for each Grantor, each Deposit Account
maintained by such Grantor (including the respective account number) and the name of the respective bank with which such Deposit Account is maintained. 

(b) After the date of this Agreement, no Grantor shall establish any new demand, time, savings, passbook or similar account, except for
Excluded Deposit Accounts, the Dominion Account and Deposit Accounts established and maintained with banks and meeting the requirements of Section 9.17 of the Credit Agreement. 

3.10 [Reserved]. 
 3.11
Commercial Tort Claims. As of the Closing Date, no Grantor has Commercial Tort Claims with an individual claimed value of $5,000,000 or more other than those described in Schedule 12 of the Perfection Certificate. If any Grantor shall at any
time after the date of this Agreement hold or acquire a Commercial Tort Claim in an amount (taking the greater of the aggregate claimed damages thereunder or the reasonably estimated value thereof) of $5,000,000 or more, such Grantor shall, on or
prior to the next Quarterly Update Date, notify the Collateral Agent thereof in a writing signed by such Grantor and describing the details thereof and shall grant to the Collateral Agent in such writing a security interest therein (subject to
Permitted Liens) and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Collateral Agent. 

3.12 Chattel Paper. Subject to the terms of the Intercreditor Agreement, each Grantor will, following any reasonable request by the
Collateral Agent, deliver all of its Tangible Chattel Paper with a value in excess of $1,000,000 to the Collateral Agent on or prior to the next Quarterly Update Date, provided that, so long as no Event of Default shall have occurred and be
continuing, such Grantor may retain for collection in the ordinary course of business any Chattel Paper received by such Grantor in the ordinary course of business, and the Collateral Agent shall, promptly upon request of such Grantor, make
appropriate arrangements for making any Chattel Paper in its possession and pledged by such Grantor available to such Grantor for purposes of presentation, collection or renewal. If such Grantor retains possession of any Chattel Paper pursuant to
the terms hereof, subject to the terms of the Intercreditor Agreement, upon request of the Collateral Agent, such Chattel Paper shall be marked with the following legend: “This writing and the obligations evidenced or secured hereby are subject
to the security interests of Bank of America, N.A., as collateral agent, for the benefit of itself and certain Secured Creditors.” 

  
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 3.13 Further Actions. To the extent otherwise required by this Agreement or the other
Credit Documents, each Grantor will, at its own expense, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to time such vouchers, invoices, schedules, confirmatory assignments, conveyances, financing
statements, transfer endorsements, certificates, reports and other assurances or instruments and take such further steps, including any and all actions as may be necessary or required relating to its Accounts, Contracts, Instruments and other
property or rights which constitute Collateral, as the Collateral Agent may reasonably require for the purpose of obtaining or preserving the full benefits of the security interests, rights and powers herein granted. 

ARTICLE IV 
 SPECIAL PROVISIONS
CONCERNING TRADEMARKS AND DOMAIN NAMES 
 4.1 Additional Representations and Warranties. Schedule 11(a) of the Perfection Certificate
sets forth a list of all active United States marks and applications for United States marks registered or filed in the PTO and all Domain Names that such Grantor owns. Each Grantor represents and warrants that it owns all Marks registered or
applied for with the PTO and Domain Names listed on Schedule 11(a) of the Perfection Certificate, except for such failure to own that has not had, and would not reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. Each Grantor further warrants that it has no knowledge of any third party claim received by it within the last twelve (12) months that any aspect of such Grantor’s present business operations infringes any trademark,
service mark or trade name of any other Person other than as has not, and would not, reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Each Grantor represents and warrants that all material U.S.
trademark registrations and applications and Domain Name registrations listed in Schedule 11(a) of the Perfection Certificate have not been canceled and are not presently being opposed and, to such Grantor’s knowledge, are valid and subsisting,
and that such Grantor is not aware of any pending third-party claim that any of said registrations is invalid or unenforceable, and is not aware that there is any reason that any of said registrations is invalid or unenforceable, and is not aware
that there is any reason that any of said applications will not mature into registrations, other than as would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. Each Grantor hereby grants to the
Collateral Agent an absolute power of attorney to sign, solely upon the occurrence and during the continuance of an Event of Default, any document which may be required by the PTO or Domain Name registrar in order to effect an assignment of all
right, title and interest in each Mark and/or Domain Name listed in Schedule 11(a) of the Perfection Certificate, and record the same. 

4.2 Assignments. Except as otherwise permitted by the Secured Debt Agreements, each Grantor hereby agrees not to assign or otherwise
transfer any rights to any third party all or substantially all rights in any material Mark or material Domain Name absent prior written approval of the Collateral Agent. 

4.3 Infringements. Each Grantor agrees, promptly upon learning thereof, to notify the Collateral Agent in writing of the name and
address of (if available to such Grantor), and to furnish such pertinent information that may be available to such Grantor with respect to, any party who such Grantor reasonably believes is infringing or diluting or otherwise violating any of such
Grantor’s rights in and to any Mark or Domain Name in any manner that would reasonably be expected to have a Material Adverse Effect, or with respect to any party claiming that such Grantor’s use of any Mark or Domain Name material to such
Grantor’s business violates in any material respect any intellectual property right of that party. Each Grantor further agrees to prosecute diligently in accordance with its reasonable business judgment, any Person infringing any Mark or Domain
Name owned by it in any manner that would reasonably be expected to have a Material Adverse Effect. 

  
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 4.4 Preservation of Marks. Each Grantor agrees to use its Marks that are material to
such Grantor’s business in interstate commerce during the time in which this Agreement is in effect to the extent required by the laws of the United States to maintain its rights in such Mark and to take all such other actions as are reasonably
necessary to preserve such Marks as trademarks or service marks under the laws of the United States (other than any such material Marks that are no longer material or are deemed by such Grantor in its reasonable business judgment to no longer be
necessary in the conduct of Grantor’s business). 
 4.5 Maintenance of Registration. Each Grantor shall, at its own expense,
diligently process all documents reasonably required to maintain all material Mark and/or Domain Name registrations, including but not limited to affidavits of use and applications for renewals of registration in the PTO for all of its material
registered Marks, and shall pay all fees and disbursements in connection therewith and shall not abandon any such filing of affidavit of use or any such application of renewal prior to the exhaustion of all administrative and judicial remedies
without prior written consent of the Collateral Agent, not to be unreasonably withheld (other than with respect to registrations and applications deemed by such Grantor in its reasonable business judgment to be no longer prudent to pursue or as
otherwise permitted by the Credit Agreement). 
 4.6 Future Registered Marks and Domain Names. If any Mark registration is issued
hereafter prior to the Termination Date to any Grantor as a result of any application now or hereafter prior to the Termination Date pending before the PTO or any Domain Name is registered by Grantor prior to the Termination Date, on or prior to the
next Quarterly Update Date, such Grantor shall deliver to the Collateral Agent an updated Schedule 11(a) of the Perfection Certificate, and, if requested by the Collateral Agent, a grant of a security interest in such Mark and/or Domain Name, to the
Collateral Agent and at the expense of such Grantor, confirming the grant of a security interest in such Mark and/or Domain Name to the Collateral Agent hereunder, the form of such security to be substantially in the form of Exhibit C hereto or in
such other form as may be reasonably satisfactory to the Collateral Agent. 
 4.7 Remedies. If an Event of Default shall occur and be
continuing, subject to the terms of the Intercreditor Agreement, the Collateral Agent may, by written notice to the relevant Grantor, take any or all of the following actions: (i) declare the entire right, title and interest of such Grantor in
and to each of the Marks and Domain Names, together with all trademark rights and rights of protection to the same, vested in the Collateral Agent for the benefit of the Secured Creditors, in which event such right, title and interest shall
immediately vest, in the Collateral Agent for the benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise the power of attorney referred to in Section 4.1 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 Marks or Domain Names and the goodwill of such Grantor’s business symbolized by the Marks or Domain Names and the right to
carry on the business and use the assets of such Grantor in connection with which the Marks or Domain Names have been used (provided that any license shall be subject to reasonable quality control); and (iii) direct such Grantor to
refrain, in which event such Grantor shall refrain, from using the Marks or Domain Names in any manner whatsoever, directly or indirectly, and such Grantor shall execute such further documents that the Collateral Agent may reasonably request to
further confirm this and to transfer ownership of the Marks or Domain Names owned by it and registrations and any pending trademark applications in the PTO or applicable Domain Name registrar therefor to the Collateral Agent. Solely for the purpose
of enabling the Collateral Agent to exercise rights and remedies under this Section 4.7 and at such time as the Collateral Agent shall be lawfully entitled, and permitted under the Credit Agreement, to exercise such rights and remedies, each
Grantor hereby grants to the Collateral Agent, to the extent it has the right to do so, an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to such Grantor), subject, in the case of Trademarks, to
sufficient rights to quality control and inspection in favor of such Grantor to avoid the risk of invalidation of said Trademarks, to use, operate under, license, or sublicense any Marks and Domain Names now owned or hereafter acquired by such
Grantor to the extent constituting Collateral hereunder. 

  
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 ARTICLE V 

SPECIAL PROVISIONS CONCERNING PATENTS, COPYRIGHTS AND TRADE SECRETS 

5.1 Additional Representations and Warranties. Each Grantor represents and warrants that it is the owner of all rights in (i) all
Trade Secret Rights, (ii) the Patents listed in Schedule 11(a) of the Perfection Certificate for such Grantor and that said Patents include all the material registered United States patents and applications for United States patents that such
Grantor owns as of the date hereof and (iii) the Copyrights listed in Schedule 11(b) of the Perfection Certificate for such Grantor and that said Copyrights include all the material United States copyrights registered with the United States
Copyright Office and applications to United States copyrights that such Grantor owns as of the date hereof. Each Grantor further warrants that it has no knowledge of any third party claim received by it within the past twelve (12) months that
any aspect of such Grantor’s present business operations infringes any patent or copyright of any other Person or such Grantor has misappropriated any Trade Secret or proprietary information which, either individually or in the aggregate, has,
or would reasonably be expected to have, a Material Adverse Effect. Each Grantor hereby grants to the Collateral Agent a power of attorney to sign, solely upon the occurrence and during the continuance of any Event of Default, any document which may
be required by the PTO or the United States Copyright Office in order to effect an assignment of all right, title and interest in each Patent listed in Schedule 11(a) of the Perfection Certificate or Copyright listed in Schedule 11(b) of the
Perfection Certificate, or any other issued or applied-for United States patent or registered or applied-for United States copyright hereinafter owned by such Grantor,
and to record the same. 
 5.2 Assignments. Except as otherwise permitted by the Secured Debt Agreements, each Grantor hereby agrees
not to assign or otherwise transfer to any third party all or substantially all rights in any material Patent or material Copyright absent prior written approval of the Collateral Agent. 

5.3 Infringements. Each Grantor agrees, promptly upon learning thereof, to furnish the Collateral Agent in writing with all pertinent
information available to such Grantor with respect to any infringement, contributing infringement or active inducement to infringe or other violation of such Grantor’s rights in any Patent or Copyright or to any claim that the practice of any
Patent or use of any Copyright by such Grantor violates any intellectual property right of a third party, or with respect to any misappropriation of any Trade Secret Right by such Grantor or any claim that practice of any Trade Secret Right by such
Grantor violates any intellectual property right of a third party, in each case, in any manner which, either individually or in the aggregate, has, or would reasonably be expected to have, a Material Adverse Effect. Each Grantor further agrees to
diligently prosecute, in accordance with such Grantor’s reasonable business judgment, any Person infringing any Patent owned by it or Copyright or any Person misappropriating any Trade Secret Right, in each case to the extent that such
infringement or misappropriation, either individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. 

5.4 Maintenance of Patents or Copyrights. At its own expense, each Grantor shall make timely payment of all post-issuance fees required
to maintain in force its rights under each issued Patent or registered Copyright, absent prior written consent of the Collateral Agent (other than any such Patents or Copyrights that are no longer material or are deemed by such Grantor in its
reasonable business judgment to no longer be necessary in the conduct of Grantor’s business). 

  
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 5.5 Prosecution of Patent or Copyright Applications. At its own expense, each Grantor
shall diligently prosecute all material applications for (i) United States Patents listed in Schedule 11(a) of the Perfection Certificate and (ii) Copyrights listed on Schedule 11(b) of the Perfection Certificate, in each case for such
Grantor and shall not abandon any such application prior to exhaustion of all administrative and judicial remedies (other than applications that are no longer material or are deemed by such Grantor in its reasonable business judgment to no longer be
necessary in the conduct of Grantor’s business), absent written consent of the Collateral Agent not to be unreasonably withheld. 
 5.6
Other Patents and Copyrights. Upon acquisition or issuance of a United States Patent, registration of a Copyright, or acquisition of a registered Copyright, or of filing of an application for a United States Patent or Copyright, the relevant
Grantor shall deliver to the Collateral Agent an updated Schedule 11 of the Perfection Certificate on or prior to the next Quarterly Update Date, with, if requested by the Collateral Agent, a grant of a security interest as to such Patent or
Copyright, as the case may be, to the Collateral Agent and at the expense of such Grantor, confirming the grant of a security interest, the form of such grant of a security interest to be substantially in the form of Exhibit A or B hereto, as
appropriate, or in such other form as may be reasonably satisfactory to the Collateral Agent. 
 5.7 Remedies. If an Event of Default
shall occur and be continuing, subject to the terms of the Intercreditor Agreement, the Collateral Agent may, by written notice to the relevant Grantor, take any or all of the following actions: (i) declare the entire right, title, and interest
of such Grantor in each of the Patents, Copyrights and Trade Secret Rights vested in the Collateral Agent for the benefit of the Secured Creditors, in which event such right, title, and interest shall immediately vest in the Collateral Agent for the
benefit of the Secured Creditors, and the Collateral Agent shall be entitled to exercise the power of attorney referred to in Section 5.1 hereof to execute, cause to be acknowledged and notarized and to record said assignment with the
applicable agency; (ii) take and practice or sell the Patents, Copyrights and Trade Secrets, in each case, owned by such Grantor, and exercise any other rights vested in the Patents, Copyrights and Trade Secrets pursuant to Section 5.7(i)
above; and (iii) direct such Grantor to refrain, in which event such Grantor shall refrain, from practicing the Patents and using the Copyrights and the Trade Secrets directly or indirectly, and such Grantor shall execute such further documents
as the Collateral Agent may reasonably request further to confirm this and to transfer ownership of the Patents, Copyrights and Trade Secrets, in each case owned by it, to the Collateral Agent for the benefit of the Secured Creditors. Solely for the
purpose of enabling the Collateral Agent to exercise rights and remedies under this Section 5.7 and at such time as the Collateral Agent shall be lawfully entitled, and permitted under the Credit Agreement, to exercise such rights and remedies,
each Grantor hereby grants to the Collateral Agent, to the extent it has the right to do so, an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to such Grantor), to use, operate under, license, or
sublicense any Patents, Copyrights and Trade Secrets now owned or hereafter acquired by such Grantor to the extent constituting Collateral hereunder. 

ARTICLE VI 
 PROVISIONS CONCERNING
ALL COLLATERAL 
 6.1 Protection of Collateral Agent’s Security. Except as otherwise permitted or not prohibited by the Secured
Debt Agreements, each Grantor will do nothing to impair the rights of the Collateral Agent in the Collateral. Each Grantor or an affiliate on behalf of such Grantor will at all times maintain insurance, at such Grantor’s own expense to the
extent and in the manner provided in the Secured Debt Agreements. If any Event of Default shall have occurred and be continuing, the Collateral Agent shall, at the time any proceeds of such insurance are distributed to the Secured Creditors, apply
such proceeds in accordance with Section 7.4 hereof. Each Grantor assumes all liability and responsibility in connection with the Collateral acquired by it and the liability of such Grantor to pay the Obligations shall in no way be affected or
diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable to such Grantor. 

  
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 6.2 Warehouse Receipts Non-Negotiable. To the
extent practicable, each Grantor agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued with respect to any of its Inventory, such Grantor shall request that such warehouse receipt or receipt in the nature
thereof shall not be “negotiable” (as such term is used in Section 7-104 of the UCC as in effect in any relevant jurisdiction or under other relevant law). 

6.3 Additional Information. Each Grantor will, at its own expense, from time to time upon the reasonable request of the Collateral
Agent, promptly furnish to the Collateral Agent such information with respect to the Collateral (including the identity of the Collateral or such components thereof as may have been reasonably requested by the Collateral Agent, the value and
location of such Collateral, etc.) as may be requested by the Collateral Agent. 
 6.4 Further Actions. To the extent otherwise
required by this Agreement or the other Credit Documents, each Grantor will, at its own expense and upon the reasonable request of the Collateral Agent, make, execute, endorse, acknowledge, file and/or deliver to the Collateral Agent from time to
time such lists, descriptions and designations of its Collateral, warehouse receipts, receipts in the nature of warehouse receipts, bills of lading, documents of title, vouchers, invoices, schedules, confirmatory assignments, conveyances, financing
statements, transfer endorsements, certificates, reports and other assurances or instruments and take such further steps relating to the Collateral and other property or rights covered by the security interest hereby granted, which the Collateral
Agent deems reasonably appropriate or advisable to perfect, preserve or protect its security interest in the Collateral at least to the extent described in Section 2.1. 

6.5 Financing Statements. Each Grantor agrees to deliver to the Collateral Agent such financing statements, in form reasonably
acceptable to the Collateral Agent, as the Collateral Agent may from time to time reasonably request to establish and maintain a valid, enforceable, perfected security interest in the Collateral as provided herein and for the purpose of obtaining
and preserving the full benefits of the other rights and security contemplated hereby at least to the extent described in Section 2.1. Each Grantor will pay any applicable filing fees, recordation taxes and related expenses relating to its
Collateral. Each Grantor hereby authorizes the Collateral Agent to file any such financing statements (and such authorization includes describing the Collateral as “all assets and all personal property whether now owned or hereafter
acquired” of such Grantor or words of similar effect). 
 ARTICLE VII 

REMEDIES UPON OCCURRENCE OF AN EVENT OF DEFAULT 

7.1 Remedies; Obtaining the Collateral Upon an Event of Default. Each Grantor agrees that, subject to the terms of the Intercreditor
Agreement, if any Event of Default shall have occurred and be continuing, then and in every such case, the Collateral Agent, in addition to any rights now or hereafter existing under applicable law and under the other provisions of this Agreement,
shall have all rights as a secured creditor under any UCC, and such additional rights and remedies to which a secured creditor is entitled under the laws in effect in all relevant jurisdictions and may: 

(i) personally, or by agents or attorneys, immediately take possession of the Collateral or any part thereof, from such Grantor
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 such Grantor’s premises where any of the Collateral is located and remove the same and use in
connection with such removal any and all services, supplies, aids and other facilities of such Grantor, in each case without breach of the peace; 

  
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 (ii) instruct the obligor or obligors on any agreement, instrument or other
obligation (including, without limitation, the Accounts and the Contracts) constituting the Collateral to make any payment required by the terms of such agreement, instrument or other obligation directly to the Collateral Agent and may exercise any
and all remedies of such Grantor in respect of such Collateral; 
 (iii) instruct all banks which have entered into a Deposit
Account Control Agreement with the Collateral Agent to transfer all monies, securities and instruments held by such depositary bank to the Dominion Account; it being understood and agreed that unless a Liquidity Period or an Event of Default has
occurred and is continuing, the Collateral Agent shall not deliver to such banks a Liquidity Notice or a notice of exclusive control under, and as defined in, the respective Deposit Account Control Agreement relating thereto; 

(iv) sell, assign or otherwise liquidate any or all of the Collateral or any part thereof in accordance with Section 7.2
hereof, or direct such Grantor to sell, assign or otherwise liquidate any or all of the Collateral or any part thereof, and, in each case, take possession of the proceeds of any such sale or liquidation; 

(v) take possession of the Collateral or any part thereof, by directing such Grantor in writing to deliver the same to the
Collateral Agent at any reasonable place or places designated by the Collateral Agent, in which event such Grantor shall at its own expense: 

(x) forthwith cause the same to be moved to the place or places so designated by the Collateral Agent and there delivered to
the Collateral Agent; 
 (y) store and keep any Collateral so delivered to the Collateral Agent at such place or places
pending further action by the Collateral Agent as provided in Section 7.2 hereof; and 
 (z) while the Collateral shall
be so stored and kept, provide such security and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain it in good condition; 

(vi) license or sublicense, whether on an exclusive (where permissible) or nonexclusive basis, any Marks (subject to reasonable
quality control), Domain Names, Patents or Copyrights included in the Collateral for such term and on such conditions and in such manner as the Collateral Agent shall in its sole judgment determine; 

(vii) apply any monies constituting Collateral or proceeds thereof in accordance with the provisions of Section 7.4 and/or
Section 9.17 of the Credit Agreement (as applicable); and 
 (viii) take any other action as specified in clauses (a)(1)
through (a)(5), inclusive, of Section 9-607 of the UCC; 
 it being understood that each Grantor’s
obligation so to deliver the Collateral is of the essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a decree requiring specific performance by such
Grantor of said obligation. By accepting the benefits of this Agreement and each other Security Document, the Secured Creditors 

  
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expressly acknowledge and agree that this Agreement and each other Security Document may be enforced only by the action of the Collateral Agent and that no Secured Creditor shall have any right
individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights and remedies may be exercised by the Collateral Agent. 

7.2 Remedies; Disposition of the Collateral. To the extent permitted by applicable law, if any Event of Default shall have occurred and
be continuing, then any Collateral repossessed by the Collateral Agent under or pursuant to Section 7.1 hereof and any other Collateral whether or not so repossessed by the Collateral Agent, may be sold, assigned, leased or otherwise disposed
of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms as the Collateral
Agent may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the
Collateral Agent or after any overhaul or repair at the expense of the relevant Grantor which the Collateral Agent shall determine to be commercially reasonable. Any such sale, lease or other disposition may be effected by means of a public
disposition or private disposition, effected in accordance with the applicable requirements (in each case if and to the extent applicable) of Sections 9-610 through
9-613 of the UCC and/or such other mandatory requirements of applicable law as may apply to the respective disposition. The Collateral Agent may, without notice or publication, adjourn any public or private
disposition or cause the same to be adjourned from time to time by announcement at the time and place fixed for the disposition, and such disposition may be made at any time or place to which the disposition may be so adjourned. To the extent
permitted by any such requirement of law, the Collateral Agent may bid for and become the purchaser (and may pay all or any portion of the purchase price by crediting Obligations against the purchase price) of the Collateral or any item thereof,
offered for disposition in accordance with this Section 7.2 without accountability to the relevant Grantor. Each Grantor agrees to do or cause to be done all such other acts and things as may be reasonably necessary to make such disposition or
dispositions of all or any portion of the Collateral valid and binding and in compliance with any and all applicable laws, regulations, orders, writs, injunctions, decrees or awards of any and all courts, arbitrators or governmental
instrumentalities, having jurisdiction over any such sale or sales, all at such Grantor’s expense. 
 7.3 Waiver of Claims.
Except as otherwise provided in this Agreement, EACH GRANTOR HEREBY WAIVES, TO THE EXTENT PERMITTED BY APPLICABLE LAW, NOTICE AND JUDICIAL HEARING IN CONNECTION WITH THE COLLATERAL AGENT’S TAKING POSSESSION OR THE COLLATERAL AGENT’S
DISPOSITION OF ANY OF THE COLLATERAL, INCLUDING, WITHOUT LIMITATION, ANY AND ALL PRIOR NOTICE AND HEARING FOR ANY PREJUDGMENT REMEDY OR REMEDIES, and each Grantor hereby further waives, to the extent permitted by law: 

(a) all damages occasioned by such taking of possession or any such disposition except any damages which are the direct result
of the Collateral Agent’s gross negligence, bad faith or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision); 

(b) 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 
 (c) all rights of redemption, appraisement, valuation, stay, extension or
moratorium now or hereafter in force under any applicable law in order to prevent or delay the enforcement of this Agreement or the absolute sale of the Collateral or any portion thereof, and each Grantor, for itself and all who may claim under it,
insofar as it or they now or hereafter lawfully may, hereby waives the benefit of all such laws. 

  
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 Any sale of, or the grant of options to purchase, or any other realization upon, any Collateral shall
operate to divest all right, title, interest, claim and demand, either at law or in equity, of the relevant Grantor therein and thereto, and shall be a perpetual bar both at law and in equity against such Grantor and against any and all Persons
claiming or attempting to claim the Collateral so sold, optioned or realized upon, or any part thereof, from, through and under such Grantor. 

7.4 Application of Proceeds. 

(a) Subject to the terms of the Intercreditor Agreement, all moneys collected by the Collateral Agent (or, to the extent the Pledge Agreement
or any other Security Document requires proceeds of collateral under such other Security Document to be applied in accordance with the provisions of this Agreement, the Pledgee under, and as defined in, the Pledge Agreement, or collateral agent
under such other Security Document) upon any sale or other disposition of the Collateral (or the collateral under the relevant Security Document), together with all other moneys received by the Collateral Agent hereunder (or under the relevant
Security Document), in each case, as a result of the exercise of remedies by the Collateral Agent after the occurrence and during the continuance of an Event of Default, shall be applied in accordance with Section 11.11 of the Credit Agreement.

 (b) It is understood that the Grantors 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 Obligations. 
 7.5 Remedies Cumulative. Each and every right, power
and remedy hereby specifically given to the Collateral Agent shall be in addition to every other right, power and remedy specifically given to the Collateral Agent under this Agreement, the other Secured Debt Agreements or now or hereafter existing
at law, in equity or by statute and each and every right, power and remedy whether specifically herein given or otherwise existing may be exercised from time to time or simultaneously and as often and in such order as may be deemed expedient by the
Collateral Agent. All such rights, powers and remedies shall be cumulative and the exercise or the beginning of the exercise of one shall not be deemed a waiver of the right to exercise any other or others. No delay or omission of the Collateral
Agent in the exercise of any such right, power or remedy and no renewal or extension of any of the Obligations shall impair any such right, power or remedy or shall be construed to be a waiver of any Default or Event of Default or an acquiescence
thereof. No notice to or demand on any Grantor in any case shall entitle it to any other or further notice or demand in similar or other circumstances or constitute a waiver of any of the rights of the Collateral Agent to any other or further action
in any circumstances without notice or demand. In the event that the Collateral Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then in such suit the Collateral Agent may recover reasonable
invoiced out-of-pocket expenses, including reasonable attorneys’ fees, and the amounts thereof shall be included in such judgment, in each case, in accordance with
the terms and provisions of Section 13.01 of the Credit Agreement. 
 7.6 Discontinuance of Proceedings. In case 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 relevant Grantor, the Collateral Agent and each holder of any of the Obligations shall be restored to their former positions and rights hereunder with respect to the
Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Collateral Agent shall continue as if no such proceeding had been instituted. 

  
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 ARTICLE VIII 

INDEMNITY 
 8.1 Indemnity.
The terms of Section 13.01 of the Credit Agreement are incorporated herein by reference, mutatis mutandis, and the parties hereto agree to such terms. 

8.2 Indemnity Obligations Secured by Collateral; Survival. Any amounts paid by any Indemnified Person as to which such Indemnified
Person has the right to reimbursement shall constitute Obligations secured by the Collateral. The indemnity obligations of each Grantor contained in the Credit Agreement shall continue in full force and effect notwithstanding the termination of the
Commitments, the full payment of all of the other Obligations and notwithstanding the full payment of all the Notes issued, and Revolving Loans made, the termination or expiration of all Letters of Credit issued under the Credit Agreement, the
termination of all Secured Bank Product Obligations entered into with the Other Creditors and the payment of all other Obligations and notwithstanding the discharge thereof and the occurrence of the Termination Date. 

ARTICLE IX 
 DEFINITIONS 

The following terms shall have the meanings herein specified. Such definitions shall be equally applicable to the singular and plural forms of
the terms defined. 
 “Account” shall mean any “account” as such term is defined in the UCC as in effect on the
date hereof in the State of New York. 
 “Administrative Agent” shall have the meaning provided in the recitals of this
Agreement. 
 “Agreement” shall mean this Security Agreement as the same may be amended, modified, restated and/or
supplemented from time to time in accordance with its terms. 
 “Applicable Governmental Authority” shall have the meaning
provided in Section 3.1 of this Agreement. 
 “As-Extracted Collateral” shall
mean “as-extracted collateral” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

“Borrowers” shall have the meaning provided in the recitals of this Agreement. 

“Chattel Paper” shall mean “chattel paper” as such term is defined in the UCC as in effect on the date hereof in
the State of New York. Without limiting the foregoing, the term “Chattel Paper” shall in any event include all Tangible Chattel Paper and all Electronic Chattel Paper. 

“Collateral” shall have the meaning provided in Section 1.1(a) of this Agreement. 

  
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 “Collateral Agent” shall have the meaning provided in the first paragraph
of this Agreement. 
 “Commercial Tort Claims” shall mean “commercial tort claims” as such term is defined in the
UCC as in effect on the date hereof in the State of New York, except that it shall refer only to such claims that have been asserted in judicial or similar proceedings. 

“Contract Rights” shall mean all rights of any Grantor under each Contract, including, without limitation, (i) any and
all rights to receive and demand payments under any or all Contracts, (ii) any and all rights to receive and compel performance under any or all Contracts and (iii) any and all other rights, interests and claims now existing or in the
future arising in connection with any or all Contracts. 
 “Contracts” shall mean all contracts between any Grantor and one
or more additional parties (including, without limitation, any Secured Bank Product Obligations, licensing agreements and any partnership agreements, joint venture agreements and limited liability company agreements, and settlement agreements). 

“Copyrights” shall mean any United States copyright now or hereafter prior to the Termination Date owned by any Grantor,
including any registrations of any copyrights, in the United States Copyright Office, as well as any application for a copyright registration now or hereafter prior to the Termination Date made with the United States Copyright Office by any Grantor.

 “Credit Agreement” shall have the meaning provided in the recitals of this Agreement. 

“Credit Document Obligations” shall have the meaning provided in the definition of “Obligations” in this Article
IX. 
 “Deposit Accounts” shall mean all “deposit accounts” as such term is defined in the UCC as in effect on
the date hereof in the State of New York. 
 “Documents” shall mean “documents” as such term is defined in the
UCC as in effect on the date hereof in the State of New York. 
 “Domain Names” shall mean all Internet domain names owned
by any Grantor now or hereafter prior to the Termination Date. 
 “Electronic Chattel Paper” shall mean “electronic
chattel paper” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

“Equipment” shall mean any “equipment” as such term is defined in the UCC as in effect on the date hereof in the
State of New York, and in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter owned by any Grantor and any and all additions, substitutions and replacements of any of
the foregoing and all accessions thereto, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto. 

“Excluded Collateral” shall have the meaning provided in Section 1.2 of this Agreement. 

“General Intangibles” shall mean “general intangibles” as such term is defined in the UCC as in effect on the date
hereof in the State of New York. 

  
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 “Goods” shall mean “goods” as such term is defined in the UCC as
in effect on the date hereof in the State of New York. 
 “Grantor” shall have the meaning provided in the first paragraph
of this Agreement. 
 “Holdings” shall have the meaning provided in the recitals hereto. 

“Instrument” shall mean “instruments” as such term is defined in Article 9 of the UCC as in effect on the date
hereof in the State of New York. 
 “Inventory” shall mean merchandise, inventory and goods, and all additions,
substitutions and replacements thereof and all accessions thereto, wherever located, together with all goods, supplies, incidentals, packaging materials, labels, materials and any other items used or usable in manufacturing, processing, packaging or
shipping same, in all stages of production from raw materials through work in process to finished goods, and all products and proceeds of whatever sort and wherever located any portion thereof which may be returned, rejected, reclaimed or
repossessed by the Collateral Agent from any Grantor’s customers, and shall specifically include all “inventory” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

“Investment Property” shall mean “investment property” as such term is defined in the UCC as in effect on the date
hereof in the State of New York. 
 “Lead Borrower” shall have the meaning provided in the recitals of this Agreement. 

“Lender Creditors” shall have the meaning provided in the recitals of this Agreement. 

“Lenders” shall have the meaning provided in the recitals of this Agreement. 

“Letter-of-Credit Rights” shall mean “letter-of-credit rights” as such term is defined in the UCC as in effect on the date hereof in the State of New York. 

“Location” of any Grantor, shall mean such Grantor’s “location” as determined pursuant to Section 9-307 of the UCC. 
 “Marks” shall mean all United States: trademarks,
service marks and trade names now held or hereafter prior to the Termination Date acquired by any Grantor, including any registration or application for registration of any trademarks and service marks now held or hereafter prior to the Termination
Date acquired by any Grantor (except for “intent to use” applications for trademark or service mark registrations filed pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. § 1051, unless and until an “Amendment to Allege
Use” or a “Statement of Use” under Sections 1(c) and 1(d) of said Act has been filed in, and accepted by, the PTO), which are registered or filed in the PTO or the equivalent thereof in any state of the United States or any equivalent
foreign office or agency, as well as any unregistered trademarks and service marks owned and used by a Grantor and any trade dress including logos, designs, fictitious business names and other business identifiers owned and used by any Grantor. 

“Obligations” shall mean and include, as to any Grantor, all of the following: 

(i) all now existing or hereafter arising debts, obligations, covenants, and duties of payment or performance of every kind, matured or
unmatured, direct or contingent, owing, arising, due, or payable to any Lender, Agent or Indemnified Person by any Grantor arising out of the Credit Agreement or any other Credit Document, including, without limitation, all obligations to repay

  
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principal or interest (including interest, fees and other amounts accruing during any proceeding under any Debtor Relief Laws, regardless of whether allowed or allowable in such proceeding) on
the Revolving Credit Loans, and to pay interest, fees, costs, charges, expenses, professional fees, and all sums chargeable to any Credit Party or for which any Credit Party is liable as indemnitor under the Credit Documents, whether or not
evidenced by any note or other instrument and the due performance and compliance with all terms, conditions and agreements contained therein (all such obligations, liabilities and indebtedness under this clause (i) together with obligations
under clauses (iii), (iv), (v) and (vi), except to the extent consisting of obligations, liabilities or indebtedness with respect to Secured Bank Product Obligations, being herein collectively called the “Credit Document
Obligations”); 
 (ii) all Secured Bank Product Obligations, and the due performance and compliance with all terms, conditions and
agreements contained therein (all such obligations, liabilities and indebtedness under this clause (ii) being herein collectively called the “Other Obligations”); 

(iii) any and all sums advanced by the Collateral Agent in order to preserve the Collateral or preserve its security interest in the
Collateral in accordance with the terms and provisions of this Agreement and the other Credit Documents; 
 (iv) in the event of any
proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities of such Grantor referred to in clauses (i) and (ii) above, after an Event of Default shall have occurred and be continuing, the reasonable invoiced out-of-pocket expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing of or realizing on the Collateral, or of any exercise by the
Collateral Agent of its rights hereunder, together with reasonable attorneys’ fees and court costs, in each case, in accordance with the terms and provisions of this Agreement and Section 13.01 of the Credit Agreement; 

(v) all amounts paid by any Indemnified Party as to which such Indemnified Party has the right to reimbursement under the Credit Agreement;
and 
 (vi) all amounts owing to any Agent or any of its Affiliates pursuant to any of the Credit Documents in its capacity as such; 

it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the types described above, whether outstanding on the
date of this Agreement or extended from time to time after the date of this Agreement. Notwithstanding anything to the contrary contained above, (x) the Secured Bank Product Obligations shall be secured and guaranteed pursuant to the Credit
Documents only to the extent that, and for so long as, the other Obligations are so secured and guaranteed except in connection with any application of proceeds pursuant to Section 11.11 of the Credit Agreement and (y) any release of
Collateral or Guarantors effected in the manner permitted by this Agreement shall not require the consent of holders of any Secured Bank Product Obligations. 

“Ordinary Course Transferees” shall mean: (i) with respect to Goods only, buyers in the ordinary course of business and
lessees in the ordinary course of business to the extent provided in Section 9-320(a) and 9-321 of the UCC as in effect from time to time in the relevant
jurisdiction, (ii) with respect to General Intangibles only, licensees in the ordinary course of business to the extent provided in Section 9-321 of the UCC as in effect from time to time in the
relevant jurisdiction and (iii) any other Person who is entitled to take free of the Lien pursuant to the UCC as in effect from time to time in the relevant jurisdiction. 

“Other Creditors” shall have the meaning provided in the recitals of this Agreement. 

  
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 “Other Obligations” shall have the meaning provided in the definition of
“Obligations” in this Article IX. 
 “Patents” shall mean any United States patent owned by any Grantor now or
hereafter prior to the Termination Date, and any divisions, continuations (including, but not limited to, continuations-in-parts) and improvements thereof filed or
conceived, as the case may be, prior to the Termination Date, as well as any application for a United States patent now or hereafter prior to the Termination Date made by any Grantor. 

“Perfection Certificate” shall mean that certain perfection certificate dated October 20, 2016, executed and delivered
by each Grantor party thereto in favor of the Collateral Agent for the benefit of the Secured Creditors, and each other Perfection Certificate (which shall be in form and substance reasonably acceptable to the Collateral Agent) executed and
delivered by the applicable Grantor in favor of the Collateral Agent for the benefit of the Secured Creditors contemporaneously with the execution and delivery of each joinder agreement executed in accordance with Section 10.12 hereof,
in each case, as the same may be amended, amended and restated, supplemented or otherwise modified from time to time in accordance with the Credit Agreement or upon the reasonable request of the Collateral Agent. 

“Permits” shall mean, to the extent permitted to be assigned by the terms thereof or by applicable law, all licenses,
permits, rights, orders, variances, franchises or authorizations of or from any governmental authority or agency. 

“Proceeds” shall mean all “proceeds” as such term is defined in the UCC as in effect in the State of New York on
the date hereof and, in any event, shall also include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Collateral Agent or any Grantor from time to time with respect to any of the
Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to any Grantor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral
by any governmental authority (or any person acting under color of governmental authority) and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. 

“Promissory Note” shall have the meaning provided in the UCC as in effect in the State of New York. 

“PTO” shall have the meaning provided in Section 1.2(h) of this Agreement. 

“Quarterly Update Date” means the later of (i) the date of delivery of the compliance certificate from a Responsible
Officer pursuant to Section 9.01(e) of the Credit Agreement, (ii) thirty (30) days after the acquisition of the applicable after-acquired Collateral or occurrence of applicable change and (iii) the date agreed to in the sole
discretion of the Collateral Agent. 
 “Registered Organization” shall have the meaning provided in the UCC as in effect in
the State of New York. 
 “Representative” shall have the meaning provided in Section 7.4(d) of this Agreement. 

“Secured Creditors” shall have the meaning provided in the recitals of this Agreement. 

“Secured Debt Agreements” shall mean and include this Agreement, the other Credit Documents and the agreements governing any
Secured Bank Product Obligations entered into with an Other Creditor. 

  
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 “Software” shall mean “software” as such term is defined in the
UCC as in effect on the date hereof in the State of New York. 
 “Subsidiary Borrowers” shall have the meaning provided in
the recitals of this Agreement. 
 “Supporting Obligations” shall mean any “supporting obligation” as such term
is defined in the UCC as in effect on the date hereof in the State of New York, now or hereafter owned by any Grantor, or in which any Grantor has any rights. 

“Tangible Chattel Paper” shall mean “tangible chattel paper” as such term is defined in the UCC as in effect on the
date hereof in the State of New York. 
 “Termination Date” shall have the meaning provided in Section 10.8(a) of this
Agreement. 

“Timber-to-be-Cut
” shall mean “timber-to-be-cut” as such term is defined in the UCC as in effect on the date hereof in the
State of New York. 
 “Trade Secret Rights” shall mean the rights of a Grantor in any Trade Secret it holds. 

“Trade Secrets” shall mean any of the following owned by a Grantor solely to the extent pertaining to or applicable to the
United States: secretly held existing engineering or other proprietary data, information, production procedures and other know-how relating to the design, manufacture, assembly, installation, use, operation,
marketing, sale and/or servicing of any products or business owned by a Grantor whether written or not. 
 “UCC” shall mean
the Uniform Commercial Code as in effect from time to time in the relevant jurisdiction. 
 “Vehicles” shall mean all cars,
trucks, construction and earth moving equipment covered by a certificate of title law of any state. 
 “Voting Equity
Interests” shall mean (i) all classes of Equity Interests entitled to vote and (ii) any other Equity Interests treated as voting stock for purposes of Treasury Regulation
Section 1.956-2(c)(2). 
 ARTICLE X 

MISCELLANEOUS 
 10.1
Notices. Except as otherwise specified herein, all notices, requests, demands or other communications to or upon the respective parties hereto shall be sent or delivered in accordance with Section 13.03 of the Credit Agreement. All
notices and other communications shall be in writing and addressed as follows: 
 (a) if to any Grantor, c/o: 

PAE Holding Corporation 
 c/o
Platinum Equity, LLC 
 360 North Crescent Drive 

Beverly Hills, CA 90210 

Facsimile: (310) 712-1863 

Attention: Legal Department 

  
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	 	(b)	 if to the Collateral Agent, at: 

Bank of America, N.A. 
 1600 JFK
Boulevard, 11th Floor 

Philadelphia, PA 19103 

Attention: Kevin Corcoran 

Telephone No.: (267)-675-0162 

Email: kevin.w.corcoran@baml.com 

(c) if to any Lender Creditor (other than the Collateral Agent), at such address as such Lender Creditor shall have specified
in the Credit Agreement; 
 (d) if to any Other Creditor, at such address as such Other Creditor shall have specified in
writing to each Grantor and the Collateral Agent; 
 or at such other address or addressed to such other individual as shall have been furnished in writing
by any Person described above to the party required to give notice hereunder. 
 10.2 Waiver; Amendment. Except as provided in
Sections 10.8 and 10.12, none of the terms and conditions of this Agreement may be changed, waived, modified or varied in any manner whatsoever unless in writing duly signed by each Grantor directly affected thereby (it being understood that the
addition or release of any Grantor hereunder shall not constitute a change, waiver, discharge or termination affecting any Grantor other than the Grantor so added or released) and the Collateral Agent (with the consent required pursuant to the
Credit Agreement). 
 10.3 Obligations Absolute. To the maximum extent permitted by applicable law, the obligations of each Grantor
hereunder shall remain in full force and effect without regard to, and shall not be impaired by, (a) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation or the like of such Grantor; (b) any
exercise or non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of this Agreement or any other Secured Debt Agreement; or (c) any amendment to or modification of any
Secured Debt Agreement or any security for any of the Obligations; whether or not such Grantor shall have notice or knowledge of any of the foregoing. 

10.4 Successors and Assigns. This Agreement shall create a continuing security interest in the Collateral and shall (i) remain in
full force and effect, subject to release and/or termination as set forth in Section 10.8, (ii) be binding upon each Grantor, its successors and assigns; provided, however, that no Grantor shall assign any of its rights or obligations
hereunder without the prior written consent of the Collateral Agent and (iii) inure, together with the rights and remedies of the Collateral Agent hereunder, to the benefit of the Collateral Agent, the other Secured Creditors and their
respective successors, transferees and permitted assigns. All agreements, statements, representations and warranties made by each Grantor herein or in any certificate or other instrument delivered by such Grantor or on its behalf under this
Agreement shall be considered to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on
their behalf. 

  
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 10.5 Headings Descriptive. The headings of the several sections of this Agreement are
inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 10.6
GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. 
 (a) THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT (EXCEPT THAT, (X) IN THE CASE OF ANY COLLATERAL LOCATED IN ANY STATE
OTHER THAN NEW YORK, PROCEEDINGS MAY BE BROUGHT BY THE ADMINISTRATIVE AGENT OR COLLATERAL AGENT IN THE STATE IN WHICH THE RELEVANT COLLATERAL IS LOCATED OR ANY OTHER RELEVANT JURISDICTION AND (Y) IN THE CASE OF ANY BANKRUPTCY, INSOLVENCY OR
SIMILAR PROCEEDING WITH RESPECT TO ANY GRANTOR, ACTIONS OR PROCEEDINGS RELATED TO THIS AGREEMENT MAY BE BROUGHT IN SUCH COURT HOLDING SUCH BANKRUPTCY, INSOLVENCY OR SIMILAR PROCEEDINGS) MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK OR OF THE
UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS
PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HERETO HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER IT, AND AGREES NOT TO PLEAD OR CLAIM, IN
ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT BROUGHT IN ANY OF THE AFOREMENTIONED COURTS, THAT SUCH COURTS LACK PERSONAL JURISDICTION OVER IT. EACH PARTY HERETO IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE
AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY, AS THE CASE MAY BE, AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION 10.1 ABOVE, SUCH SERVICE
TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PARTY HERETO IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER THAT
SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST ANY OTHER SUCH
PARTY IN ANY OTHER JURISDICTION. 
 (b) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE
LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND
AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

  
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 (c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 

10.7 Grantor’s Duties. It is expressly agreed, anything herein contained to the contrary notwithstanding, that each Grantor shall
remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the Collateral Agent shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this
Agreement, nor shall the Collateral Agent be required or obligated in any manner to perform or fulfill any of the obligations of any Grantor under or with respect to any Collateral. 

10.8 Termination; Release. 

(a) On the Termination Date, this Agreement shall terminate, all without delivery of any instrument or performance of any act by any party,
and all rights to the Collateral shall revert to the Grantors (provided that all indemnities set forth herein including, without limitation in Section 8.1 hereof, shall survive such termination) and the Collateral Agent, at the request and
expense of the respective Grantor, will promptly execute and deliver to such Grantor a proper instrument or instruments (including, without limitation, UCC termination statements on form UCC-3) acknowledging
the satisfaction and termination of this Agreement, and will duly assign, transfer and deliver to such Grantor (without recourse and without any representation or warranty) such of the Collateral as may be in the possession of the Collateral Agent
and as has not theretofore been sold or otherwise applied or released pursuant to this Agreement. As used in this Agreement, “Termination Date” shall mean the date upon which the Aggregate Commitments under the Credit Agreement have
been terminated and all Obligations have been paid in full, no Note under the Credit Agreement is outstanding and all Revolving Loans and LC Disbursements thereunder have been repaid in full and all Letters of Credit have expired or otherwise
terminated (other than (x) contingent indemnification obligations, (y) Letters of Credit which have been Cash Collateralized or backstopped on terms reasonably satisfactory to the Administrative Agent and (z) obligations and
liabilities under any agreement governing the Secured Bank Product Obligations not then due and payable pursuant to Section 11.11 of the Credit Agreement). 

(b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person other than a Credit Party) in connection with a
sale or disposition permitted by Section 10.02 of the Credit Agreement or is otherwise released at the direction of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit Agreement) and the proceeds of such
sale or disposition (or from such release) are applied in accordance with the terms of the Credit Agreement to the extent required to be so applied, the security interest created hereby will be automatically released and the Collateral Agent will
execute and deliver such documentation, including termination or partial release statements and the like in connection therewith at the request and expense of such Grantor and assign, transfer and deliver to such Grantor (without recourse and
without any representation or warranty) such of the Collateral as is then being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession of the Collateral Agent and has not theretofore been released pursuant to
this Agreement. Furthermore, upon the release of any Subsidiary Guarantor from the Subsidiaries Guaranty in accordance with the provisions thereof, such Grantor (and the Collateral at such time assigned by the respective Grantor pursuant hereto)
shall be released from this Agreement. 
 (c) At any time that a Grantor desires that the Collateral Agent take any action to acknowledge or
give effect to any release of Collateral pursuant to the foregoing Section 10.8(b), such Grantor shall deliver to the Collateral Agent (and the relevant sub-agent, if any, designated hereunder) a
certificate signed by a Responsible Officer of such Grantor stating that the release of the respective 

  
 31 

 
Collateral is permitted pursuant to such Section 10.8(b). At any time that either any Borrower or the respective Grantor desires that, in connection with a Subsidiary of the Lead Borrower
which has been released from the Subsidiaries Guaranty, the Collateral Agent take any action in connection with the release of such Subsidiary hereunder as provided in the last sentence of Section 10.8(b), it shall deliver to the Collateral
Agent a certificate signed by a Responsible Officer of the Lead Borrower and the respective Grantor stating that the release of the respective Grantor (and its Collateral) is permitted pursuant to such Section 10.8(b). 

(d) The Collateral Agent shall have no liability whatsoever to any other Secured Creditor as the result of any release of Collateral by it in
accordance with (or which the Collateral Agent in the absence of gross negligence and willful misconduct believes to be in accordance with) this Section 10.8. 

10.9 Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate
counterparts, each of which when so executed and delivered shall constitute an original, but all of which, when taken together, shall constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged
with the Lead Borrower and the Collateral Agent. Delivery of an executed signature page to this Agreement by facsimile, PDF or other electronic transmission shall be as effective as delivery of an original executed counterpart of this Agreement.

 10.10 Severability. Any provision of this Agreement 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, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 10.11 The Collateral Agent and the other Secured Creditors. The Collateral Agent shall
hold in accordance with this Agreement all items of Collateral at any time received under this Agreement. Until the occurrence and continuation of an Event of Default, the Collateral Agent shall not directly pledge any Collateral in its possession
or control to secure its own debt. It is expressly understood and agreed that the obligations of the Collateral Agent as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement,
are only those expressly set forth in this Agreement and in Article 12 of the Credit Agreement. The Collateral Agent shall act hereunder on the terms and conditions set forth herein and in Article 12 of the Credit Agreement. 

10.12 Additional Grantors. It is understood and agreed that any Subsidiary Borrower or Subsidiary Guarantor that desires to become a
Grantor hereunder, or is required to execute a counterpart of this Agreement after the date hereof pursuant to the requirements of the Credit Agreement or any other Credit Document, shall become a Grantor hereunder by executing a counterpart hereof
and delivering same to the Collateral Agent, or by executing and delivering to the Collateral Agent a joinder agreement substantially in the form of Exhibit D attached hereto, (y) delivering a Perfection Certificate and (z) taking all
actions as specified in this Agreement as would have been taken by such Grantor had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Collateral Agent and with all documents and
actions required above to be taken to the reasonable satisfaction of the Collateral Agent. 
 10.13 Intercreditor Agreement. This
Agreement and the other Credit Documents are subject to the terms and conditions set forth in the Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the
terms of Intercreditor Agreement shall govern. Notwithstanding anything herein to the contrary, the Lien and 

  
 32 

 
security interest granted to the Collateral Agent pursuant to any Credit Document and the exercise of any right or remedy in respect of the Collateral by the Collateral Agent (or any Secured
Creditor) hereunder or under any other Credit Document are subject to the provisions of the Intercreditor Agreement and in the event of any conflict between the terms of the Intercreditor Agreement, this Agreement and any other Credit Document, the
terms of the Intercreditor Agreement shall govern and control with respect to the exercise of any such right or remedy. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, no Credit Party shall be
required hereunder or under any Credit Document to take any action with respect to the Collateral that is inconsistent with such Credit Parties’ obligations under the Intercreditor Agreement. Prior to the Discharge of Fixed Asset Obligations
(as defined in the Intercreditor Agreement), the delivery or granting of “control” (as defined in the UCC) to the extent only one Person can be granted “control” therein under applicable law of any Fixed Asset Collateral (as
defined in the Intercreditor Agreement) to the First Lien Collateral Agent pursuant to the terms of the Fixed Asset Collateral Documents (as defined in the Intercreditor Agreement) shall satisfy any such delivery or granting of “control”
requirement hereunder or under any other Credit Document with respect to any Fixed Asset Collateral to the extent that such delivery or granting of “control” is consistent with the terms of the Intercreditor Agreement. 

[Remainder of this page intentionally left blank; signature page follows] 

  
 33 

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

			
	SHAY INTERMEDIATE HOLDING II CORPORATION, as a Grantor
		
	 By:
	 	/s/ Mary Ann Sigler
		 	Name: Mary Ann Sigler
		 	Title: President and Treasurer

  

			
	PAE HOLDING CORPORATION, as a Grantor
		
	By:	 	/s/ Paul W. Cobb, Jr.
		 	Name: Paul W. Cobb, Jr.
		 	Title: Vice President

 [PAE – Signature Page to Security Agreement (ABL)] 

 
			
	 PACIFIC ARCHITECTS AND ENGINEERS INCORPORATED,

as a Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Vice President

  

			
	 PAE GOVERNMENT SERVICES, INC.,
 as a
Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	 PACIFIC OPERATIONS MAINTENANCE COMPANY,

as a Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	 PAE DESIGN AND FACILITY MANAGEMENT,

as a Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	 PAE PROFESSIONAL SERVICES, INC.,
 as
a Grantor

		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary

  

			
	 PAE LABAT-ANDERSON INCORPORATED,
 as
a Grantor

		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary

  
 [PAE – Signature
Page to Security Agreement (ABL)] 

 
			
	 A-T SOLUTIONS, INC.,

as a Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	 PAE JUSTICE SUPPORT,
 as a
Grantor

		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary

  

			
	 PAE AVIATION AND TECHNICAL SERVICES LLC,

as a Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	 PAE APPLIED TECHNOLOGIES LLC,
 as a
Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	 PAE HANFORD LLC,
 as a
Grantor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  

			
	DYNCORP, as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  
 [PAE – Signature
Page to Security Agreement (ABL)] 

 
			
	PAE SHIELD ACQUISITION COMPANY, INC., as a Grantor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary
	
	A-T SOLUTIONS CORPORATE HOLDINGS PRIME, INC., as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer
	
	A-T SOLUTIONS CORPORATE HOLDINGS, INC., as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer
	
	A-T SOLUTIONS HOLDINGS, INC., as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer
	
	PAE INTERNATIONAL, as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer
	
	AFGHAN HOLDCO LLC, as a Grantor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary

  
 [PAE – Signature
Page to Security Agreement (ABL)] 

 
			
	DEFENSE SUPPORT SERVICES INTERNATIONAL 3 LLC, as a Grantor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary
	
	PAE TRAINING SERVICES, LLC, as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer
	
	PAE HUMANITARIAN RESPONSE LLC, as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer
	
	DEFENSE SUPPORT SERVICES INTERNATIONAL, LLC, as a Grantor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary
	
	DEFENSE SUPPORT SERVICES INTERNATIONAL 2 LLC, as a Grantor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title: Assistant Secretary
	
	PAE LOGISTICS LLC, as a Grantor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  
 [PAE – Signature
Page to Security Agreement (ABL)] 

 
			
	ACCELLIGENCE LLC, as a Grantor
	By:	 	A-T SOLUTIONS, INC., its sole member
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title: Treasurer

  
 [PAE – Signature
Page to Security Agreement (ABL)] 

  

			
	Accepted and Agreed to:
	
	BANK OF AMERICA, N.A.,
	 as Collateral Agent

		
	By:	 	/s/ James Foley
		 	Name: James Foley
		 	Title: Senior Vice President

  
 [PAE – Signature
Page to Security Agreement (ABL)] 

 EXHIBIT A 

to 
 ABL SECURITY AGREEMENT

 [Form of] 
 ABL
Copyright Security Agreement 
 ABL Copyright Security Agreement, dated as of
[                     ], made by each of the undersigned grantors (individually, a “Grantor”, and, collectively, the
“Grantors”), in favor of BANK OF AMERICA, N.A., in its capacity as collateral agent pursuant to the Credit Agreement (in such capacity, the “Collateral Agent”). 

W I T N
E S S E T H: 

WHEREAS, the Grantors are party to that certain ABL Security Agreement of even date herewith (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Security Agreement”) in favor of the Collateral Agent pursuant to which the Grantors are required to execute and deliver this ABL Copyright Security Agreement; 

Now, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the Secured Creditors,
to enter into the Credit Agreement, the Grantors 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 Grantor hereby pledges and grants to the Collateral Agent for the
benefit of the Secured Creditors a lien on and security interest in and to all of its right, title and interest in, to and under all the following Collateral of such Grantor: 

(a) Copyrights of such Grantor listed on Schedule I attached hereto; and 

(b) all Proceeds of any and all of the foregoing (other than Excluded Collateral). 

SECTION 3. Security Agreement. The security interest granted pursuant to this ABL Copyright Security Agreement is granted in
conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and Grantors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the
Copyrights 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 ABL Copyright
Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 
 SECTION 4.
Termination. Upon the payment in full of the Obligations and termination of the Security Agreement, the Collateral Agent shall execute, acknowledge, and deliver to the Grantors an instrument in writing in recordable form releasing the
collateral pledge, grant, assignment, lien and security interest in the Copyrights under this ABL Copyright Security Agreement. 

  
 Exhibit A-1 

 SECTION 5. Counterparts. This ABL Copyright Security Agreement may be executed in any
number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this ABL Copyright Security Agreement by signing and delivering one or more counterparts. 

SECTION 6. Governing Law. This ABL Copyright Security Agreement and the transactions contemplated hereby, and all disputes between the
parties under or relating to this ABL Copyright Security Agreement or the facts or circumstances leading to its execution, whether in contract, tort or otherwise, shall be construed in accordance with and governed by the laws (including statutes of
limitation) of the State of New York, without regard to conflicts of law principles that would require the application of the laws of another jurisdiction. 

[signature page follows] 

  
 Exhibit A-2 

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

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

  

			
	Accepted and Agreed:
	
	 BANK OF AMERICA, N.A.,
 as
Collateral Agent

		
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit A-3 

 SCHEDULE I 

to 
 ABL COPYRIGHT
SECURITY AGREEMENT 
 COPYRIGHT REGISTRATIONS AND COPYRIGHT APPLICATIONS 

Copyright Registrations: 
  

					
	 OWNER
	  	 REGISTRATION
NUMBER
	  	 TITLE

		  		  	

 Copyright Applications: 
  

			
	 OWNER
	  	 TITLE

		  	

  
 Exhibit A-4 

 EXHIBIT B 

to 
 ABL SECURITY AGREEMENT

 [Form of] 
 ABL
Patent Security Agreement 
 ABL Patent Security Agreement, dated as of
[                 ], made by each of the undersigned grantors (individually, a “Grantor”, and, collectively, the “Grantors”), in favor
of BANK OF AMERICA, N.A., in its capacity as collateral agent pursuant to the Credit Agreement (in such capacity, the “Collateral Agent”). 

W I T N
E S S E T H: 

WHEREAS, the Grantors are party to that certain ABL Security Agreement of even date herewith (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Security Agreement”) in favor of the Collateral Agent pursuant to which the Grantors are required to execute and deliver this ABL Patent Security Agreement; 

NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the
Secured Creditors, to enter into the Credit Agreement, the Grantors 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 Grantor hereby pledges and grants to the Collateral Agent for the
benefit of the Secured Creditors a lien on and security interest in and to all of its right, title and interest in, to and under all the following Collateral of such Grantor: 

(a) Patents of such Grantor listed on Schedule I attached hereto; and 

(b) all Proceeds of any and all of the foregoing (other than Excluded Collateral). 

SECTION 3. Security Agreement. The security interest granted pursuant to this ABL Patent Security Agreement is granted in conjunction
with the security interest granted to the Collateral Agent pursuant to the Security Agreement and Grantors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the Patents 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 ABL Patent Security Agreement is
deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 
 SECTION 4. Termination.
Upon the payment in full of the Obligations and termination of the Security Agreement, the Collateral Agent shall execute, acknowledge, and deliver to the Grantors an instrument in writing in recordable form releasing the collateral pledge, grant,
assignment, lien and security interest in the Patents under this ABL Patent Security Agreement. 

  
 Exhibit B-1 

 SECTION 5. Counterparts. This ABL Patent Security Agreement may be executed in any
number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this ABL Patent Security Agreement by signing and delivering one or more counterparts. 

SECTION 6. Governing Law. This ABL Patent Security Agreement and the transactions contemplated hereby, and all disputes between the
parties under or relating to this ABL Patent Security Agreement or the facts or circumstances leading to its execution, whether in contract, tort or otherwise, shall be construed in accordance with and governed by the laws (including statutes of
limitation) of the State of New York, without regard to conflicts of law principles that would require the application of the laws of another jurisdiction. 

[signature page follows] 

  
 Exhibit B-2 

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

			
	 Very truly yours,

	
	 [GRANTORS]

			
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  

			
	 Accepted and Agreed:

	
	 BANK OF AMERICA, N.A., as Collateral
Agent

			
		
	 By:
	 	 
		 	 Name:

		 	 Title:

  
 Exhibit B-3 

 SCHEDULE I 

to 
 ABL PATENT SECURITY
AGREEMENT 
 PATENT REGISTRATIONS AND PATENT APPLICATIONS 

Patent Registrations: 
  

					
	 OWNER
	  	 REGISTRATION
NUMBER
	  	 NAME

		  		  	

 Patent Applications: 
  

					
	 OWNER
	  	 APPLICATION
NUMBER
	  	 NAME

		  		  	

  
 Exhibit B-4 

 EXHIBIT C 

to 
 ABL SECURITY AGREEMENT

 [Form of] 
 ABL
Trademark Security Agreement 
 ABL Trademark Security Agreement, dated as of
[                 ], made by each of the undersigned grantors (individually, a “Grantor”, and, collectively, the “Grantors”), in favor
of BANK OF AMERICA, N.A., in its capacity as collateral agent pursuant to the Credit Agreement (in such capacity, the “Collateral Agent”). 

W I T N
E S S E T H: 

WHEREAS, the Grantors are party to that certain ABL Security Agreement of even date herewith (as amended, amended and restated,
supplemented or otherwise modified from time to time, the “Security Agreement”) in favor of the Collateral Agent pursuant to which the Grantors are required to execute and deliver this ABL Trademark Security Agreement; 

NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the
Secured Creditors, to enter into the Credit Agreement, the Grantors 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 Grantor hereby pledges and grants to the Collateral Agent for the
benefit of the Secured Creditors a lien on and security interest in and to all of its right, title and interest in, to and under all the following Collateral of such Grantor: 

(a) Trademarks of such Grantor listed on Schedule I attached hereto (in no event shall Collateral include any application for registration of a
trademark filed with the United States Patent and Trademark Office (“PTO”) on an intent-to-use basis until such time (if any) as a statement of use or
amendment to allege use is accepted by the PTO); 
 (b) all Goodwill associated with such Trademarks; and 

(c) all Proceeds of any and all of the foregoing (other than Excluded Collateral). 

SECTION 3. Security Agreement. The security interest granted pursuant to this ABL Trademark Security Agreement is granted in
conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and Grantors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the
Trademarks 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 ABL Trademark
Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 

  
 Exhibit C-1 

 SECTION 4. Termination. Upon the payment in full of the Obligations and termination
of the Security Agreement, the Collateral Agent shall execute, acknowledge, and deliver to the Grantors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in the Trademarks
under this ABL Trademark Security Agreement. 
 SECTION 5. Counterparts. This ABL Trademark Security Agreement may be executed in any
number of counterparts, all of which shall constitute one and the same instrument, and any party hereto may execute this ABL Trademark Security Agreement by signing and delivering one or more counterparts. 

SECTION 6. Governing Law. This ABL Trademark Security Agreement and the transactions contemplated hereby, and all disputes between the
parties under or relating to this ABL Trademark Security Agreement or the facts or circumstances leading to its execution, whether in contract, tort or otherwise, shall be construed in accordance with and governed by the laws (including statutes of
limitation) of the State of New York, without regard to conflicts of law principles that would require the application of the laws of another jurisdiction. 

[signature page follows] 

  
 Exhibit C-2 

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

			
	 Very truly yours,
  

[GRANTORS]

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 Accepted and Agreed:
  

BANK OF AMERICA, N.A., as Collateral Agent

		
	By:	 	 
		 	Name:
		 	Title:

  
 Exhibit C-3 

 SCHEDULE I 

to 
 ABL TRADEMARK
SECURITY AGREEMENT 
 TRADEMARK REGISTRATIONS AND TRADEMARK APPLICATIONS 

Trademark Registrations: 
  

					
	 OWNER
	  	 REGISTRATION

NUMBER
	  	 TRADEMARK

		  		  	

 Trademark Applications: 
  

					
	 OWNER
	  	 APPLICATION

NUMBER
	  	 TRADEMARK

		  		  	

  
 Exhibit C-4 

 EXHIBIT D 

to 
 ABL SECURITY AGREEMENT

 [FORM OF] 

JOINDER AGREEMENT 

Reference is made to (a) the ABL Security Agreement, dated as of October 20, 2016 (as amended, amended and restated,
modified, supplemented, extended or renewed from time to time, the “Security Agreement”), among Shay Intermediate Holding II Corporation, a Delaware corporation (“Holdings”), PAE Holding Corporation, a Delaware
corporation (the “Lead Borrower”), the Subsidiary Borrowers party thereto (and together with the Lead Borrower, the “Borrowers”), the other grantors party thereto from time to time (together with Holdings and the
Borrowers, the “Grantors”) and Bank of America, N.A., as collateral agent (together with any successor collateral agent, the “Collateral Agent”) and (b) the Revolving Credit Agreement, dated as of
October 20, 2016 (as amended, amended and restated, modified, supplemented, extended or renewed from time to time, the “Credit Agreement”), among Holdings, the Borrowers, the lenders party thereto from time to time (the
“Lenders”), Bank of America, N.A., as administrative agent (together with any successor administrative agent, the “Administrative Agent”) and certain other parties thereto. Capitalized terms used herein and not
otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement, or if not defined therein, the Credit Agreement. 

W I T N E S S E T H: 
 WHEREAS,
the Grantors have entered into the Security Agreement in order to induce the Lenders to make Revolving Loans to, and issue Letters of Credit to, the Borrowers and the Other Creditors to enter into Secured Bank Product Obligations with the Lead
Borrower and/or one or more of its Subsidiaries; 
 WHEREAS, the undersigned Subsidiary (the “New Grantor”) is required
pursuant to the terms of the Credit Agreement and the Security Agreement, or the Lead Borrower has otherwise elected in accordance with the terms of the Credit Agreement and the Security Agreement to cause such New Grantor, to become a Grantor by
executing this joinder agreement (“Joinder Agreement”) to the Security Agreement; 
 NOW, THEREFORE, the Administrative
Agent and the New Grantor hereby agree as follows: 
 1. Grant of Security Interest. In accordance with Section 10.12 of the
Security Agreement, the New Grantor by its signature below becomes a Grantor under the Security Agreement with the same force and effect as if originally named therein as a Grantor. As security for the prompt and complete payment or performance, as
the case may be, when due of all of the Obligations, the New Grantor does hereby pledge and grant to the Collateral Agent, for the benefit of the Secured Creditors, a continuing security interest in all of the right, title and interest of such
Grantor in, to and under all of its Collateral, in each case whether now existing or hereafter from time to time acquired (but excluding any Excluded Collateral). 

  
 Exhibit D-1 

 2. Representations and Warranties. The New Grantor hereby agrees to all the terms and
provisions of the Security Agreement applicable to it as a Grantor thereunder. Each reference to a Grantor in the Credit Agreement and to a Grantor in the Security Agreement shall, from and after the date hereof, be deemed to include the New
Grantor. 
 3. Severability. Any provision of this Joinder Agreement 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, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 4. Counterparts. This Joinder Agreement may be executed in counterparts,
each of which shall constitute an original. Delivery of an executed signature page to this Joinder Agreement by facsimile, PDF or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Joinder
Agreement. 
 5. No Waiver. Except as expressly supplemented hereby, the Security Agreement shall remain in full force and effect.

 6. Notices. All notices, requests and demands to or upon the New Grantor, any Agent or any Lender shall be governed by the terms
of Section 10.1 of the Security Agreement. 
 7. Governing Law. THIS JOINDER AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 [Signature Pages Follow] 

  
 Exhibit D-2 

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

			
	 [                    ],

 

	as a Grantor
		
	By:	 	 
		 	Title:

  

			
	 Accepted and Agreed:
  

	 BANK OF AMERICA, N.A.,
 as
Collateral Agent

		
	By:	 	 
		 	Name:
		 	 Title:

  
 Exhibit D-3EX-10.22

 Exhibit 10.22 

EXECUTION VERSION 
  

 
  

ABL PLEDGE AGREEMENT 
 among 

SHAY INTERMEDIATE HOLDING II CORPORATION, 

PAE HOLDING CORPORATION, 
 CERTAIN
OTHER SUBSIDIARIES OF PAE HOLDING CORPORATION 
 and 

BANK OF AMERICA, N.A., 
 as
COLLATERAL AGENT 
  
  

Dated as of October 20, 2016 
  

 
  

 
  

 Table of Contents 

 

									
	 	  	 	  	 	  	Page	 
	1.	  	Security for Obligations	  	 	2	 
			
	2.	  	Definitions	  	 	3	 
			
	3.	  	Pledge of Securities, Etc.	  	 	6	 
				
		  	3.1	  	        Pledge	  	 	6	 
		  	3.2	  	        Procedures	  	 	9	 
		  	3.3	  	        Subsequently Acquired Collateral	  	 	11	 
		  	3.4	  	        Transfer Taxes	  	 	11	 
		  	3.5	  	        Certain Representations and Warranties Regarding the Collateral	  	 	11	 
			
	4.	  	Appointment of Sub-Agents	  	 	12	 
			
	5.	  	Voting, Etc., While No Event of Default	  	 	12	 
			
	6.	  	Dividends and Other Distributions	  	 	12	 
			
	7.	  	Remedies in Case of an Event of Default	  	 	13	 
			
	8.	  	Remedies, Cumulative, Etc.	  	 	15	 
			
	9.	  	Application of Proceeds	  	 	15	 
			
	10.	  	Purchasers of Collateral	  	 	15	 
			
	11.	  	Indemnity	  	 	15	 
			
	12.	  	Pledgee Not A Partner or Limited Liability Company	  	 	15	 
			
	13.	  	Further Assurances; Power-of-Attorney	  	 	16	 
			
	14.	  	The Pledgee as Collateral Agent	  	 	17	 
			
	15.	  	Transfer by the Pledgors	  	 	17	 
			
	16.	  	Representations, Warranties and Covenants of the Pledgors	  	 	17	 
			
	17.	  	[Reserved]	  	 	19	 
			
	18.	  	Pledgors’ Obligations Absolute, Etc.	  	 	20	 
			
	19.	  	Sale of Collateral Without Registration	  	 	20	 

									
	 	  	 	  	 	  	Page	 
	20.	  	Termination; Release	  	 	20	 
			
	21.	  	Notices, Etc.	  	 	21	 
			
	22.	  	Waiver; Amendment	  	 	22	 
			
	23.	  	Successors and Assigns	  	 	22	 
			
	24.	  	Headings Descriptive	  	 	23	 
			
	25.	  	GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL	  	 	23	 
			
	26.	  	Pledgor’s Duties	  	 	24	 
			
	27.	  	Counterparts	  	 	24	 
			
	28.	  	Severability	  	 	24	 
			
	29.	  	[Reserved]	  	 	24	 
			
	30.	  	Additional Pledgors	  	 	24	 
			
	31.	  	Limited Obligations	  	 	25	 
			
	32.	  	Release of Pledgors	  	 	25	 

  

									
	 ANNEX A
	  	-	  	FORM OF AGREEMENT REGARDING UNCERTIFICATED SECURITIES, LIMITED LIABILITY COMPANY INTERESTS AND PARTNERSHIP INTERESTS	  			
				
	 EXHIBIT A
	  		  	FORM OF JOINDER AGREEMENT	  			

 ABL PLEDGE AGREEMENT 

ABL PLEDGE AGREEMENT (as amended, modified, restated and/or supplemented from time to time, this “Agreement”), dated as of
October 20, 2016, among each of the undersigned pledgors (each, a “Pledgor” and, together with any other entity that becomes a pledgor hereunder pursuant to Section 31 hereof, the “Pledgors”) and Bank of
America, N.A., as collateral agent (together with any successor collateral agent, the “Pledgee” or the “Collateral Agent”), for the benefit of the Secured Creditors (as defined below). Except as otherwise defined
herein, all capitalized terms used herein and defined in the Credit Agreement (as defined below) shall be used herein as therein defined. 

W I T N E S S E T H : 

WHEREAS, Shay Intermediate Holding II Corporation, a Delaware corporation (“Holdings”), PAE Holding Corporation, a Delaware
corporation (the “Lead Borrower”), the other borrowers party thereto (each, a “Subsidiary Borrower” and together with the Lead Borrower, the “Borrowers”), the lenders party thereto from time to time
(the “Lenders”), Bank of America, N.A., as administrative agent (together with any successor administrative agent, the “Administrative Agent”), Collateral Agent, Issuing Bank and Swingline Lender, Bank of America,
N.A., Citizens Bank, National Association, SunTrust Robinson Humphrey, Inc. and Morgan Stanley Senior Funding, Inc., as Joint Lead Arrangers and Bookrunners, and Bank of America, N.A., Citizens Bank, National Association, SunTrust Bank and Morgan
Stanley Senior Funding, Inc., as Co-Documentation Agents and Co-Syndication Agents, have entered into a Revolving Credit Agreement, dated as of October 20, 2016 (as amended, modified, restated and/or
supplemented from time to time, the “Credit Agreement”), providing for the making of Revolving Loans to, and the issuance of Letters of Credit on behalf of, the Borrowers, as contemplated therein (the Lenders, each Issuing Bank, the
Swingline Lender, the Administrative Agent, the Collateral Agent and each other Agent are herein called the “Lender Creditors”); 

WHEREAS, the Lead Borrower and/or one or more of its Subsidiaries may at any time and from time to time enter into one or more Secured Bank
Product Obligations with Secured Bank Product Providers (such Secured Bank Product Providers, if any, collectively, the “Other Creditors” and, together with the Lender Creditors, the “Secured Creditors”); 

WHEREAS, pursuant to the Credit Agreement Party Guaranty, each of Holdings and the Borrowers has guaranteed to the Secured Creditors the
payment when due of its Relevant Guaranteed Obligations; 
 WHEREAS, pursuant to the Subsidiaries Guaranty, each of the Subsidiary
Guarantors has jointly and severally guaranteed to the Secured Creditors the payment when due of all of its Relevant Guaranteed Obligations; 

WHEREAS, it is a condition precedent to the making of Revolving Loans to, and the issuance of Letters of Credit on behalf of, the Borrowers
under the Credit Agreement and to the Other Creditors entering into Secured Bank Product Obligations that each Pledgor shall have executed and delivered to the Collateral Agent this Agreement; and 

  
 -1- 

 WHEREAS, each Pledgor will obtain benefits from the incurrence of Revolving Loans by, and
the issuance of Letters of Credit to, the Borrowers under the Credit Agreement and the entering into by the Lead Borrower and/or one or more of its Subsidiaries of Secured Bank Product Obligations and, accordingly, desires to execute this Agreement
in order to satisfy the condition described in the preceding paragraph and to induce the Lenders to make Revolving Loans to, and issue Letters of Credit to, the Borrowers and the Other Creditors to enter into Secured Bank Product Obligations with
the Lead Borrower and/or one or more of its Subsidiaries; 
 NOW, THEREFORE, in consideration of the foregoing and other 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 Pledgee for the benefit of the Secured Creditors and hereby covenants and agrees with the
Pledgee for the benefit of the Secured Creditors as follows: 
 1. Security for Obligations. This Agreement is made by each Pledgor
for the benefit of the Secured Creditors to secure the prompt and complete payment or performance, as the case may be, when due, of: 

(i) all now existing or hereafter arising debts, obligations, covenants, and duties of payment or performance of every kind,
matured or unmatured, direct or contingent, owing, arising, due, or payable to any Lender, Agent or Indemnified Person by any Pledgor arising out of the Credit Agreement or any other Credit Document, including, without limitation, all obligations to
repay principal or interest (including interest, fees and other amounts accruing during any proceeding under any Debtor Relief Laws, regardless of whether allowed or allowable in such proceeding) on the Revolving Loans, and to pay interest, fees,
costs, charges, expenses, professional fees, and all sums chargeable to any Credit Party or for which any Credit Party is liable as indemnitor under the Credit Documents, whether or not evidenced by any note or other instrument (all such
obligations, liabilities and indebtedness under this clause (i) together with obligations under clauses (iii), (iv), (v) and (vi), except to the extent consisting of obligations, liabilities or indebtedness with respect to Secured Bank Product
Obligations, being herein collectively called the “Credit Document Obligations”); 
 (ii) all Secured Bank
Product Obligations, and the due performance and compliance with all terms, conditions and agreements contained therein (all such obligations, liabilities and indebtedness under this clause (ii) being herein collectively called the
“Other Obligations”); 
 (iii) any and all sums advanced by the Pledgee in order to preserve the Collateral
or preserve its security interest in the Collateral in accordance with the terms and provisions of this Agreement and the other Credit Documents; 

(iv) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations, or liabilities of such
Pledgor referred to in clauses (i) and (ii) above, after an Event of Default shall have occurred and be continuing, the reasonable invoiced out-of-pocket expenses
of retaking, holding, preparing for sale or lease, selling 

  
 -2- 

 
or otherwise disposing of or realizing on the Collateral, or of any exercise by the Pledgee of its rights hereunder, together with reasonable attorneys’ fees and court costs, in each case,
in accordance with the terms and provisions of this Agreement and Section 13.01 of the Credit Agreement; 
 (v) all
amounts paid by any Indemnified Person as to which such Indemnified Person has the right to reimbursement under the Credit Agreement; and 

(vi) all amounts owing to any Agent or any of its Affiliates pursuant to any of the Credit Documents in its capacity as such;

 it being acknowledged and agreed that the “Obligations” shall include extensions of credit of the types described above, whether outstanding on
the date of this Agreement or extended from time to time after the date of this Agreement. Notwithstanding anything to the contrary contained above, (x) the Secured Bank Product Obligations shall be secured and guaranteed pursuant to the Credit
Documents only to the extent that, and for so long as, the other Obligations are so secured and guaranteed except in connection with any application of proceeds pursuant to Section 11.11 of the Credit Agreement and (y) any release of
Collateral or Guarantors effected in the manner permitted by this Agreement shall not require the consent of holders of any Secured Bank Product Obligations. 

2. Definitions. 
 (a)
Unless otherwise defined herein, all capitalized terms used herein and defined in the Credit Agreement shall be used herein as therein defined. Reference to singular terms shall include the plural and vice versa. 

(b) The following capitalized terms used herein shall have the definitions specified below: 

“Administrative Agent” shall have the meaning set forth in the recitals hereto. 

“Adverse Claim” shall have the meaning given such term in Section 8-102(a)(1) of
the UCC. 
 “Agreement” shall have the meaning set forth in the first paragraph hereof. 

“Borrowers” shall have the meaning set forth in the recitals hereto. 

“Certificated Security” shall have the meaning given such term in
Section 8-102(a)(4) of the UCC. 
 “Clearing Corporation” shall have the
meaning given such term in Section 8-102(a)(5) of the UCC. 
 “Collateral”
shall have the meaning set forth in Section 3.1 hereof. 

  
 -3- 

 “Collateral Accounts” shall mean any and all accounts established and
maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited. 
 “Credit Agreement” shall have
the meaning set forth in the recitals hereto. 
 “Credit Document Obligations” shall have the meaning set forth in
Section 1(i) hereof. 
 “Domestic Corporation” shall mean any corporation, company or other body corporate
incorporated under the laws of the United States, any State thereof or the District of Columbia 
 “Excluded Collateral”
shall have the meaning given such term in the Security Agreement. 
 “Financial Asset” shall have the meaning given such
term in Section 8-102(a)(9) of the UCC. 
 “Foreign Corporation” shall mean
any corporation, company or other body corporate not a Domestic Corporation. 
 “Holdings” shall have the meaning set forth
in the recitals hereto. 
 “Instrument” shall have the meaning given such term in
Section 9-102(a)(47) of the UCC. 
 “Investment Property” shall have the
meaning given such term in Section 9-102(a)(49) of the UCC. 
 “Lead Borrower”
shall have the meaning set forth in the recitals hereto. 
 “Lender Creditors” shall have the meaning set forth in the
recitals hereto. 
 “Lenders” shall have the meaning set forth in the recitals hereto. 

“Limited Liability Company Assets” shall mean all assets, whether tangible or intangible and whether real, personal or mixed
(including, without limitation, all limited liability company capital and interest in other limited liability companies), at any time owned by any Pledgor or represented by any Limited Liability Company Interest. 

“Limited Liability Company Interests” shall mean the entire limited liability company membership interest at any time owned
by any Pledgor in any limited liability company. 
 “Location” of any Pledgor has the meaning given such term in Section 9-307 of the UCC. 

  
 -4- 

 “Non-Voting Equity Interests” shall
mean all Equity Interests of any Person which are not Voting Equity Interests. 
 “Notes” shall mean (x) all
intercompany notes at any time issued to each Pledgor and (y) all other promissory notes from time to time issued to, or held by, each Pledgor. 

“Obligations” shall have the meaning set forth in Section 1 hereof. 

“Other Creditors” shall have the meaning set forth in the recitals hereto. 

“Other Obligations” shall have the meaning set forth in Section 1(ii) hereof. 

“Partnership Assets” shall mean all assets, whether tangible or intangible and whether real, personal or mixed (including,
without limitation, all partnership capital and interest in other partnerships), at any time owned by any Pledgor or represented by any Partnership Interest. 

“Partnership Interest” shall mean the entire general partnership interest or limited partnership interest at any time owned
by any Pledgor in any general partnership or limited partnership. 
 “Pledged Notes” shall mean all Notes at any time
pledged or required to be pledged hereunder. 
 “Pledgee” shall have the meaning set forth in the first paragraph hereof.

 “Pledgor” shall have the meaning set forth in the first paragraph hereof. 

“Proceeds” shall have the meaning given such term in Section 9-102(a)(64) of the
UCC. 
 “Quarterly Update Date” means the later of (i) the date of delivery of the compliance certificate from a
Responsible Officer pursuant to Section 9.01(e) of the Credit Agreement, (ii) thirty (30) days after the acquisition of the applicable after-acquired Collateral or occurrence of applicable change and (iii) the date agreed to in the
sole discretion of the Pledgee. 
 “Registered Organization” shall have the meaning given such term in Section 9-102(a)(70) of the UCC. 
 “Secured Creditors” shall have the meaning set
forth in the recitals hereto. 
 “Secured Debt Agreements” shall mean and includes (x) this Agreement, (y) the
other Credit Documents and (z) the agreements governing any Secured Bank Product Obligations entered into with an Other Creditor. 

“Securities Account” shall have the meaning given such term in Section 8-501(a)
of the UCC. 

  
 -5- 

 “Securities Act” shall mean the Securities Act of 1933, as amended, as in
effect from time to time. 
 “Securities Intermediary” shall have the meaning given such term in Section 8-102(a)(14) of the UCC. 
 “Security” and “Securities”
shall have the meaning given such term in Section 8-102(a)(15) of the UCC and shall in any event also include all Equity Interests and all Notes. 

“Security Entitlement” shall have the meaning given such term in
Section 8-102(a)(17) of the UCC. 
 “Subsidiary Borrower” shall have the
meaning set forth in the recitals hereto. 
 “Termination Date” shall have the meaning set forth in Section 20 hereof.

 “UCC” shall mean the Uniform Commercial Code as in effect in the State of New York from time to time; provided
that if the Uniform Commercial Code of any other jurisdiction governs perfection or priority of any security interest granted herein or is otherwise applicable by reason of a mandatory provision thereof, then the UCC shall mean such Uniform
Commercial Code; provided, further, that all references herein to specific Sections or subsections of the UCC are references to such Sections or subsections, as the case may be, of the Uniform Commercial Code as in effect in the State
of New York on the date hereof. 
 “Uncertificated Security” shall have the meaning given such term in Section 8-102(a)(18) of the UCC. 
 “Voting Equity Interests” shall have the meaning
provided in the Security Agreement. 
 3. Pledge of Securities, Etc. 

3.1 Pledge. To secure the Obligations now or hereafter owed or to be performed by such Pledgor (but subject to clause (x) of the
proviso at the end of this Section 3.1 in the case of the Voting Equity Interests pledged hereunder of (x) Foreign Subsidiaries that are CFCs and (y) FSHCOs), each Pledgor does hereby grant and pledge to the Pledgee for the benefit of
the Secured Creditors, and does hereby create a continuing security interest (subject to those Liens permitted to exist with respect to the Collateral pursuant to the terms of all Secured Debt Agreements then in effect) in favor of the Pledgee for
the benefit of the Secured Creditors in, all of its right, title and interest in and to the following, whether now existing or hereafter from time to time acquired (collectively, the “Collateral”): 

(a) each of the Collateral Accounts (to the extent a security interest therein is not created pursuant to the Security
Agreement), including any and all assets of whatever type or kind deposited by such Pledgor in any such Collateral Account, whether now owned or hereafter acquired, existing or arising, including, without limitation, all Financial Assets, Investment
Property, monies, checks, drafts, Instruments, Securities or 

  
 -6- 

 
interests therein of any type or nature deposited or required by the Credit Agreement or any other Secured Debt Agreement to be deposited in such Collateral Account, and all investments and all
certificates and other Instruments (including depository receipts, if any) from time to time representing or evidencing the same, and all dividends, interest, distributions, cash and other property from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of the foregoing; 
 (b) all Securities owned or held by such Pledgor
from time to time and all options and warrants owned by such Pledgor from time to time to purchase Securities; 
 (c) all
Limited Liability Company Interests owned by such Pledgor from time to time and all of its right, title and interest in each limited liability company to which each such Limited Liability Company Interest relates, whether now existing or hereafter
acquired, including, without limitation, to the fullest extent permitted under the terms and provisions of the documents and agreements governing such Limited Liability Company Interests and applicable law: 

(A) all its capital therein and its interest in all profits, income, surpluses, losses, Limited Liability Company Assets and
other distributions to which such Pledgor shall at any time be entitled in respect of such Limited Liability Company Interests; 

(B) all other payments due or to become due to such Pledgor in respect of Limited Liability Company Interests, whether under
any limited liability company agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; 

(C) all of its claims, rights, powers, privileges, authority, options, security interests, liens and remedies, if any, under
any limited liability company agreement or operating agreement, or at law or otherwise in respect of such Limited Liability Company Interests; 

(D) all present and future claims, if any, of such Pledgor against any such limited liability company for monies loaned or
advanced, for services rendered or otherwise; 
 (E) all of such Pledgor’s rights under any limited liability company
agreement or operating agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Limited Liability Company Interests, including any power to terminate, cancel or modify
any such limited liability company agreement or operating agreement, to execute any instruments and to take any and all other action on behalf of and in the name of such Pledgor in respect of such Limited Liability Company Interests and any such
limited liability company, to make determinations, to exercise any election (including, but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together with full power and
authority to demand, receive, enforce, collect or receipt for any of the foregoing or for any Limited Liability Company Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action in connection
with any of the foregoing; and 

  
 -7- 

 (F) all other property hereafter delivered in substitution for or in
addition to any of the foregoing, all certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all thereof; 
 (d) all Partnership Interests owned by such
Pledgor from time to time and all of its right, title and interest in each partnership to which each such Partnership Interest relates, whether now existing or hereafter acquired, including, without limitation, to the fullest extent permitted under
the terms and provisions of the documents and agreements governing such Partnership Interests and applicable law: 
 (A) all
its capital therein and its interest in all profits, income, surpluses, losses, Partnership Assets and other distributions to which such Pledgor shall at any time be entitled in respect of such Partnership Interests; 

(B) all other payments due or to become due to such Pledgor in respect of Partnership Interests, whether under any partnership
agreement or otherwise, whether as contractual obligations, damages, insurance proceeds or otherwise; 
 (C) all of its
claims, rights, powers, privileges, authority, options, security interests, liens and remedies, if any, under any partnership agreement or operating agreement, or at law or otherwise in respect of such Partnership Interests; 

(D) all present and future claims, if any, of such Pledgor against any such partnership for monies loaned or advanced, for
services rendered or otherwise; 
 (E) all of such Pledgor’s rights under any partnership agreement or operating
agreement or at law to exercise and enforce every right, power, remedy, authority, option and privilege of such Pledgor relating to such Partnership Interests, including any power to terminate, cancel or modify any partnership agreement or operating
agreement, to execute any instruments and to take any and all other action on behalf of and in the name of such Pledgor in respect of such Partnership Interests and any such partnership, to make determinations, to exercise any election (including,
but not limited to, election of remedies) or option or to give or receive any notice, consent, amendment, waiver or approval, together with full power and authority to demand, receive, enforce, collect or receipt for any of the foregoing or for any
Partnership Asset, to enforce or execute any checks, or other instruments or orders, to file any claims and to take any action in connection with any of the foregoing; and 

  
 -8- 

 (F) all other property hereafter delivered in substitution for or in
addition to any of the foregoing, all certificates and instruments representing or evidencing such other property and all cash, securities, interest, dividends, rights and other property at any time and from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all thereof; 
 (e) all other Equity Interests, Financial
Assets, Investment Property and Notes owned by such Pledgor from time to time; 
 (f) all Security Entitlements owned by such
Pledgor from time to time in any and all of the foregoing; and 
 (g) all Proceeds of any and all of the foregoing; 

provided that (x) with respect to the pledge of any Equity Interests in any Foreign Subsidiary that is a CFC or any FSHCO, the pledge hereunder
shall not include more than 65% of the total combined voting power of all classes of Voting Equity Interests of (i) each such Foreign Subsidiary that is a CFC and (ii) each such FSHCO, (y) the pledge by any Pledgor hereunder shall not
include the Equity Interests of (i) a joint venture or other non-wholly-owned subsidiary to the extent that granting a security interest in or a Lien on such Equity Interests is not permitted by the
governing documents of such joint venture or other non-wholly-owned subsidiary, and (ii) any Subsidiary not directly owned by such Pledgor and (z) subject to clause (y), each Pledgor shall be
required to pledge hereunder 100% of the Non-Voting Equity Interests of each Foreign Subsidiary that is a CFC at any time and from time to time acquired by such Pledgor, which
Non-Voting Equity Interests shall not be subject to the limitations described in preceding clause (x). Notwithstanding the foregoing or anything to the contrary contained herein, no pledge or security interest
is or will be granted pursuant to this Agreement in any right, title or interest of any Pledgor in, to or under the Excluded Collateral. 

3.2 Procedures. 
 (a) To
the extent that any Pledgor at any time or from time to time owns, acquires or obtains any right, title or interest in any Collateral, such Collateral shall automatically (and without the taking of any action by such Pledgor) be pledged pursuant to
Section 3.1 of this Agreement and, in addition thereto, subject to the Intercreditor Agreement, such Pledgor shall (to the extent provided below) take the following actions as set forth below (as promptly as practicable) for the benefit of the
Pledgee and the other Secured Creditors: 
 (i) with respect to a Certificated Security (other than a Certificated Security
credited on the books of a Clearing Corporation or Securities Intermediary), such Pledgor shall on the date hereof, with respect to any such Certificated Security held on the date hereof, and subject to Section 9.12 of the Credit Agreement, on
or prior to the next Quarterly Update Date with respect to any Certificated Security acquired after the date hereof, physically deliver such Certificated Security to the Pledgee, endorsed to the Pledgee or endorsed in blank to the extent the
interests represented by such Certificated Security are required to be pledged hereunder; 

  
 -9- 

 (ii) at any time when an Event of Default shall have occurred and be
continuing, with respect to a Certificated Security, Uncertificated Security, Partnership Interest or Limited Liability Company Interest credited on the books of a Clearing Corporation or Securities Intermediary (including a Federal Reserve Bank,
Participants Trust Company or The Depository Trust Company), such Pledgor shall promptly notify the Pledgee thereof and shall promptly take (x) all actions required (i) to comply with the applicable rules of such Clearing Corporation or
Securities Intermediary and (ii) to perfect the security interest of the Pledgee under applicable law (including, in any event, under Sections 9-314(a), (b) and (c),
9-106 and 8-106(d) of the UCC) and (y) such other actions as the Pledgee deems necessary or desirable to effect the foregoing; 

(iii) with respect to an Uncertificated Security (other than an Uncertificated Security credited on the books of a Clearing
Corporation or Securities Intermediary), at any time any Event of Default under the Credit Agreement has occurred and is continuing, such Pledgor shall cause the issuer of such Uncertificated Security, promptly, upon the request of the Collateral
Agent, to duly authorize, execute, and deliver to the Pledgee, an agreement for the benefit of the Pledgee and the other Secured Creditors substantially in the form of Annex A hereto (appropriately completed to the reasonable satisfaction of the
Pledgee and with such modifications, if any, as shall be reasonably satisfactory to the Pledgee) pursuant to which such issuer agrees to comply with any and all instructions originated by the Pledgee without further consent by the registered owner
and not to comply with instructions regarding such Uncertificated Security (and any Partnership Interests and Limited Liability Company Interests issued by such issuer) originated by any other Person other than a court of competent jurisdiction;

 (iv) [reserved] 

(v) with respect to any Note (other than a Note which does not have a principal amount in excess of $1,000,000), such Pledgor
shall on the date hereof, with respect to any Note held on the date hereof, and on or prior to the next Quarterly Update Date, with respect to any Note acquired after the date hereof, physically deliver such Note to the Pledgee, endorsed in blank or
endorsed to the Pledgee; and 
 (vi) after the occurrence and during the continuance of an Event of Default, with respect to
cash proceeds from any of the Collateral described in Section 3.1 hereof, deposit of such cash in the Dominion Account or any other Deposit Account that is subject to a Deposit Account Control Agreement; 

provided that, notwithstanding anything to the contrary contained in this Section 3.2(a), a Pledgor shall not be required to take the actions set
forth in this Section with respect to any Equity Interests of a Person that is not a Subsidiary of such Pledgor to the extent the aggregate fair market value of all such Equity Interests does not exceed $1,000,000. 

  
 -10- 

 (b) In addition to the actions required to be taken pursuant to Section 3.2(a) hereof,
each Pledgor shall take the following additional actions with respect to the Collateral: 
 (i) with respect to all
Collateral of such Pledgor whereby or with respect to which the Pledgee may obtain “control” thereof within the meaning of Section 8-106 of the UCC (or under any provision of the UCC as same may
be amended or supplemented from time to time, or under the laws of any relevant State other than the State of New York), such Pledgor shall take all actions as may be reasonably requested from time to time by the Pledgee so that “control”
of such Collateral is obtained and at all times held by the Pledgee, in each case to the extent otherwise required by this Agreement; and 

(ii) each Pledgor shall from time to time cause appropriate financing statements (on appropriate forms) under the Uniform
Commercial Code, covering all Collateral hereunder (with the form of such financing statements to be reasonably satisfactory to the Pledgee), to be filed in the relevant filing offices, so that at all times the Pledgee’s security interest in
the Investment Property and other Collateral which can be perfected by the filing of such financing statements (in each case to the maximum extent perfection by filing may be obtained under the laws of the relevant States, including, without
limitation, Section 9-312(a) of the UCC) is so perfected. 
 Notwithstanding anything to the contrary contained
herein or in any other Credit Document, no Pledgor shall be required to take any action with respect to the creation or perfection of a security interest or Liens under foreign law with respect to any Collateral. 

3.3 Subsequently Acquired Collateral. If any Pledgor shall acquire (by purchase, stock dividend, distribution or otherwise) any
additional Collateral at any time or from time to time after the date hereof, (i) such Collateral shall automatically (and without any further action being required to be taken) be subject to the pledge and security interests created pursuant
to Section 3.1 hereof and, furthermore, such Pledgor will thereafter take (or cause to be taken) all action, on or prior to the next Quarterly Update Date, with respect to such Collateral in accordance with the procedures set forth in
Section 3.2 hereof. Without limiting the foregoing, each Pledgor shall be required to pledge hereunder the Equity Interests of any FSHCO or Foreign Subsidiary at any time and from time to time after the date hereof acquired by such Pledgor,
provided that (x) any such pledge of Voting Equity Interests of any FSHCO or Foreign Subsidiary that is a CFC shall be subject to the provisions of clauses (x) and (y) of the proviso to Section 3.1 hereof and (y) each
Pledgor shall be required to pledge hereunder 100% of the Non-Voting Equity Interests of each FSHCO or Foreign Subsidiary at any time and from time to time acquired by such Pledgor. 

3.4 Transfer Taxes. Each pledge of Collateral under Section 3.1 or Section 3.3 hereof shall be accompanied by any transfer
tax stamps required in connection with the pledge of such Collateral and if paid by any Secured Creditor, shall be reimbursed in accordance with the terms and provisions set forth in the Credit Agreement. 

3.5 Certain Representations and Warranties Regarding the Collateral. Each Pledgor represents and warrants that on the date hereof:
(i) each Subsidiary of such Pledgor, and the direct ownership thereof, is listed in Schedule 9(a) of the Perfection Certificate; (ii) the Equity Interests (and any warrants or options to purchase Equity Interests), in each case of any such
Equity Interests in a Person that is not a Subsidiary of the Lead Borrower to the extent valued in excess of $1,000,000, held by such Pledgor consists of the number and type of shares 

  
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of the Equity Interests (or warrants or options to purchase any Equity Interests) of the corporations as described in Schedule 9(b) of the Perfection Certificate; (iii) such Equity Interests
referenced in clause (ii) of this paragraph constitutes that percentage of the issued and outstanding Equity Interests of the issuing corporation (or other applicable issuer) as is set forth in Schedule 9(b) of the Perfection Certificate;
(iv) the Notes held by such Pledgor consist of the intercompany notes and the promissory notes described in Schedule 10 of the Perfection Certificatewhere such Pledgor is listed as the lender, in each case to the extent any such Note exceeds
$1,000,000; (v) the Limited Liability Company Interests held by such Pledgor and required to be pledged hereunder consist of the number and type of interests of the Persons described in Schedule 9(a) and Schedule 9(b) of the Perfection Certificate;
(vi) each such Limited Liability Company Interest referenced in clause (v) of this paragraph constitutes that percentage of the issued and outstanding equity interest of the issuing Person as set forth in Schedule 9(a) and Schedule 9(b) of
the Perfection Certificate; (vii) the Partnership Interests held by such Pledgor and required to be pledged hereunder consist of the number and type of interests of the Persons described in Schedule 9(a) and Schedule 9(b) of the Perfection
Certificate; (viii) each such Partnership Interest referenced in clause (viii) of this paragraph constitutes that percentage or portion of the entire partnership interest of the Partnership as set forth in Schedule 9(a) and Schedule 9(b)
of the Perfection Certificate; (ix) the Pledgor has complied with the respective procedure set forth in Section 3.2(a) hereof (to the extent applicable and required thereby) with respect to each item of Collateral described in Schedules
9(a), 9(b) and 10 of the Perfection Certificate; and (x) on the date hereof, such Pledgor owns no other Securities, Equity Interests, Notes, Limited Liability Company Interests or Partnership Interests which are required to be listed on such
Schedules and pledged under Section 3.1 hereof. 
 4. Appointment of Sub-Agents. The
Pledgee shall have the right to appoint one or more sub-agents for the purpose of retaining physical possession of the Collateral. 

5. Voting, Etc., While No Event of Default. For greater certainty, unless and until there shall have occurred and be continuing any
Event of Default under the Credit Agreement, each Pledgor shall be entitled to exercise any and all voting and other consensual rights pertaining to the Collateral owned by it, and to give consents, waivers or ratifications in respect thereof. All
such rights of each Pledgor to vote and to give consents, waivers and ratifications shall cease at any time after the occurrence and during the continuance of an Event of Default and, except in the case of an Event of Default under
Section 11.05 of the Credit Agreement, upon at least one Business Days’ prior written notice from the Pledgee of its intent to exercise its rights under this Agreement. 

6. Dividends and Other Distributions. For greater certainty, except as permitted under the Credit Agreement, unless and until there
shall have occurred and be continuing an Event of Default and, other than in the case of an Event of Default under Section 11.05 of the Credit Agreement, the Pledgee shall have given at least one Business Days’ prior written notice of its
intent to exercise such rights to the Pledgor, all cash dividends, cash distributions, cash Proceeds and other cash amounts payable in respect of the Collateral shall be paid to the respective Pledgor. While this Agreement is in effect, the Pledgee
shall be entitled to receive directly, and to retain as part of the Collateral, in each case, to the extent otherwise required by this Agreement: 

(i) all other or additional Equity Interests, Notes, Certificated Securities, Limited Liability Company Interests, Partnership
Interests, Instruments or other securities or property (including, but not limited to, cash dividends other than as set forth above) paid or distributed by way of dividend or otherwise in respect of the Collateral; 

  
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 (ii) all other or additional Equity Interests, Notes, Certificated
Securities, Limited Liability Company Interests, Partnership Interests, Instruments or other securities or property (including, but not limited to, cash (although such cash may be paid directly to the respective Pledgor so long as no Event of
Default then exists)) paid or distributed in respect of the Collateral by way of stock-split, spin-off, split-up, reclassification, combination of shares or similar
rearrangement; and 
 (iii) all other or additional Equity Interests, Notes, Certificated Securities, Limited Liability
Company Interests, Partnership Interests, Instruments or other securities or property (including, but not limited to, cash) which may be paid in respect of the Collateral by reason of any consolidation, merger, exchange of stock, conveyance of
assets, liquidation or similar corporate or other reorganization. 
 Nothing contained in this Section 6 shall limit or restrict in any way the
Pledgee’s right to receive the proceeds of the Collateral in any form in accordance with Section 3 of this Agreement. All dividends, distributions or other payments which are received by any Pledgor contrary to the provisions of this
Section 6 or Section 7 hereof shall be received for the benefit of the Pledgee, shall be segregated from other property or funds of such Pledgor and shall be forthwith delivered to the Pledgee as Collateral in the same form as so received
(with any necessary endorsement). 
 7. Remedies in Case of an Event of Default. 

(a) If there shall have occurred and be continuing an Event of Default, then and in every such case, subject to the terms of
the Intercreditor Agreement, the Pledgee shall be entitled to exercise all of the rights, powers and remedies (whether vested in it by this Agreement, any other Secured Debt Agreement or by law) for the protection and enforcement of its rights in
respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the UCC as in effect in any relevant jurisdiction and also shall be entitled, without limitation, to exercise the following
rights, with each Pledgor hereby agreeing that the rights set forth in clauses (i), (ii), (iii), (iv) and (vi) below are commercially reasonable: 

(i) to receive all amounts payable in respect of the Collateral otherwise payable under Section 6 hereof to the respective
Pledgor; 
 (ii) to, upon at least one Business Day’s prior written notice, transfer all or any part of the Collateral
into the Pledgee’s name or the name of its nominee or nominees; 

  
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 (iii) to accelerate any Pledged Note which may be accelerated in accordance
with its terms, and take any other lawful action to collect upon any Pledged Note (including, without limitation, to make any demand for payment thereon); 

(iv) to, upon at least one Business Day’s prior written notice, vote (and exercise all rights and powers in respect of
voting) all or any part of the Collateral (whether or not transferred into the name of the Pledgee) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright
owner thereof (each Pledgor hereby irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of such Pledgor, with full power of substitution to
do so); 
 (v) at any time and from time to time to sell, assign and deliver, or grant options to purchase, all or any part
of the Collateral, or any interest therein, at any public or private sale, without demand of performance, advertisement or, notice of intention to sell or of the time or place of sale or adjournment thereof or to redeem or otherwise purchase or
dispose (all of which are hereby waived by each Pledgor), for cash, on credit or for other property, for immediate or future delivery without any assumption of credit risk, and for such price or prices and at such time or times, at such place or
places and on such terms as the Pledgee may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable, provided at least 10 days’ prior written notice of the time and place of any such sale
shall be given to the respective Pledgor. The Pledgee shall not be obligated to make any such sale of Collateral regardless of whether any such notice of sale has theretofore been given. Each Pledgor hereby waives and releases to the fullest extent
permitted by law any right or equity of redemption with respect to the Collateral, whether before or after sale hereunder, and all rights, if any, of marshalling the Collateral and any other security or the Obligations or otherwise. At any such
sale, unless prohibited by applicable law, the Pledgee on behalf of the Secured Creditors may bid for and purchase all or any part of the Collateral so sold free from any such right or equity of redemption. Neither the Pledgee nor any other Secured
Creditor shall be liable for failure to collect or realize upon any or all of the Collateral or for any delay in so doing nor shall any of them be under any obligation to take any action whatsoever with regard thereto; and 

(vi) to set off any and all Collateral against any and all Obligations, and to withdraw any and all cash or other Collateral
from any and all Collateral Accounts and to apply such cash and other Collateral to the payment of any and all Obligations. 

(b) It is understood and agreed that in respect of Collateral consisting of Uncertificated Securities, Partnership Interests
and Limited Liability Company Interests subject of an agreement substantially in the form of Annex A and as described in Section 3.2(a)(ii), unless an Event of Default has occurred and is continuing, the Pledgee shall not deliver to the issuer of
such Uncertificated Securities, Partnership Interests or Limited Liability Company Interests, as the case may be, a notice stating that the Pledgee is exercising exclusive control of such Uncertificated Securities, Partnership Interests or Limited
Liability Company Interests, as the case may be, under, and as described in such respective agreement. 

  
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 8. Remedies, Cumulative, Etc. Each and every right, power and remedy of the Pledgee
provided for in this Agreement or in any other Secured Debt Agreement, or now or hereafter existing at law or in equity or by statute shall be cumulative and concurrent and, subject to Section 12(c) hereof, shall be in addition to every other
such right, power or remedy. The exercise or beginning of the exercise by the Pledgee or any other Secured Creditor of any one or more of the rights, powers or remedies provided for in this Agreement or any other Secured Debt Agreement or now or
hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by the Pledgee or any other Secured Creditor of all such other rights, powers or remedies, and no failure or delay on the part of
the Pledgee or any other Secured Creditor to exercise any such right, power or remedy shall operate as a waiver thereof. No notice to or demand on any Pledgor in any case shall entitle it to any other or further notice or demand in similar or other
circumstances or constitute a waiver of any of the rights of the Pledgee or any other Secured Creditor to any other or further action in any circumstances without notice or demand. The Secured Creditors agree that this Agreement may be enforced only
by the action of the Pledgee and that no other Secured Creditor shall have any right individually to seek to enforce or to enforce this Agreement or to realize upon the security to be granted hereby, it being understood and agreed that such rights
and remedies may be exercised by the Pledgee for the benefit of the Secured Creditors upon the terms of this Agreement and the Security Agreement. 

9. Application of Proceeds. 

(a) Subject to the terms of the Intercreditor Agreement, all monies collected by the Pledgee upon any sale or other disposition of the
Collateral as a result of the exercise of any remedies by the Pledgee after the occurrence and during the continuance of an Event of Default pursuant to the terms of this Agreement, together with all other monies received by the Pledgee hereunder,
shall be applied in the manner provided in the Credit Agreement. 
 (b) It is understood and agreed that each Pledgor shall remain jointly
and severally liable with respect to its Obligations to the extent of any deficiency between the amount of the proceeds of the Collateral pledged by it hereunder and the aggregate amount of such Obligations. 

10. Purchasers of Collateral. Upon any sale of the Collateral by the Pledgee hereunder (whether by virtue of the power of sale herein
granted, pursuant to judicial process or otherwise), the receipt of the Pledgee or the officer making such sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold, and such purchaser or purchasers shall not be
obligated to see to the application of any part of the purchase money paid over to the Pledgee or such officer or be answerable in any way for the misapplication or nonapplication thereof. 

11. Indemnity. The terms of Section 13.01 of the Credit Agreement are incorporated herein by reference, mutatis mutandis,
and the parties hereto agree to such terms. 
 12. Pledgee Not A Partner or Member. 

  
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 (a) Nothing herein shall be construed to make the Pledgee or any other Secured Creditor
liable as a member of any limited liability company or as a partner of any partnership and neither the Pledgee nor any other Secured Creditor by virtue of this Agreement or otherwise (except as referred to in the following sentence) shall have any
of the duties, obligations or liabilities of a member of any limited liability company or as a partner in any partnership. The parties hereto expressly agree that, unless the Pledgee shall become the absolute owner of Collateral consisting of a
Limited Liability Company Interest or a Partnership Interest pursuant hereto, this Agreement shall not be construed as creating a partnership or joint venture among the Pledgee, any other Secured Creditor, any Pledgor and/or any other Person. 

(b) Except as provided in the last sentence of paragraph (a) of this Section 12, the Pledgee, by accepting this Agreement, did not
intend to become a member of any limited liability company or a partner of any partnership or otherwise be deemed to be a co-venturer with respect to any Pledgor, any limited liability company, partnership and/or any other Person either before or
after an Event of Default shall have occurred. The Pledgee shall have only those powers set forth herein and the Secured Creditors shall assume none of the duties, obligations or liabilities of a member of any limited liability company or as a
partner of any partnership or any Pledgor except as provided in the last sentence of paragraph (a) of this Section 12. 
 (c) The
Pledgee and the other Secured Creditors shall not be obligated to perform or discharge any obligation of any Pledgor as a result of the pledge hereby effected. 

(d) The acceptance by the Pledgee of this Agreement, with all the rights, powers, privileges and authority so created, shall not at any time
or in any event obligate the Pledgee or any other Secured Creditor to appear in or defend any action or proceeding relating to the Collateral to which it is not a party, or to take any action hereunder or thereunder, or to expend any money or incur
any expenses or perform or discharge any obligation, duty or liability under the Collateral. 
 14. Further Assurances; Power-of-Attorney. 
 (a) To the extent otherwise required by
this Agreement or the other Credit Documents, each Pledgor will, at its own expense and upon the reasonable request of the Pledgee, make, execute, endorse, acknowledge, file and/or deliver to the Pledgee from time to time such lists, descriptions
and designations of its Collateral, schedules, confirmatory assignments, conveyances, financing statements, transfer endorsements, certificates, reports and other assurances or instruments and take such further steps relating to the Collateral and
other property or rights covered by the security interest hereby granted, which the Pledgee deems reasonably appropriate or advisable to perfect, preserve or protect its security interest in the Collateral at least to the extent described in
Section 3. 
 (b) Each Pledgor agrees to deliver to the Pledgee such financing statements, in form reasonably acceptable to the
Pledgee, as the Pledgee may from time to time reasonably request to establish and maintain a valid, enforceable, perfected security interest in the Collateral as provided herein and for the purpose of obtaining and preserving the full benefits of
the other rights and security contemplated hereby at least to the extent described in Section 3. Each Pledgor will pay any applicable filing fees, recordation taxes and related expenses relating to its Collateral. Each Pledgor hereby authorizes
the Pledgee to file any such financing statements (and such authorization includes describing the Collateral as “all assets and all personal property whether now owned or hereafter acquired” of such Pledgor or words of similar effect).

  
 -16- 

 (c) Subject to the terms of the Intercreditor Agreement, each Pledgor hereby constitutes and
appoints the Pledgee its true and lawful attorney, irrevocably, with full power after the occurrence of and during the continuance of an Event of Default (in the name of such Pledgor or otherwise) to act, require, demand, receive, compound and give
acquittance for any and all moneys and claims for moneys due or to become due to such Pledgor under or arising out of the Collateral, to endorse any checks or other instruments or orders in connection therewith and to file any claims or take any
action or institute any proceedings which the Pledgee may deem to be reasonably necessary or advisable to protect the interests of the Secured Creditors, which appointment as attorney is coupled with an interest. 

15. The Pledgee as Collateral Agent. The Pledgee shall hold in accordance with this Agreement all items of Collateral at any time
received under this Agreement. Until the occurrence and continuation of an Event of Default, the Pledgee shall not directly pledge any Collateral in its possession or control to secure its own debt. It is expressly understood and agreed that the
obligations of the Pledgee as holder of the Collateral and interests therein and with respect to the disposition thereof, and otherwise under this Agreement, are only those expressly set forth in this Agreement and in Article 12 of the Credit
Agreement. The Pledgee shall act hereunder on the terms and conditions set forth herein and in Article 12 of the Credit Agreement. 
 16.
Transfer by the Pledgors. Except as permitted or not prohibited pursuant to the Credit Agreement, no Pledgor will sell or otherwise dispose of, grant any option with respect to, or mortgage, pledge or otherwise encumber any of the Collateral
or any interest therein. 
 17. Representations, Warranties and Covenants of the Pledgors. 

(a) Each Pledgor represents, warrants and, until the Termination Date, covenants as to itself and each of its Subsidiaries
that: 
 (i) it is the legal, beneficial and (except as to Securities credited on the books of a Clearing Corporation or a
Securities Intermediary) record owner of, and has good and valid title to, all of its Collateral consisting of one or more Securities, Partnership Interests and Limited Liability Company Interests and that it has sufficient interest in all of its
Collateral in which a security interest is purported to be created hereunder for such security interest to attach (subject, in each case, to no Lien or Adverse Claim except the Liens and security interests created by this Agreement and Permitted
Liens); 
 (ii) it has full power and authority to pledge all the Collateral pledged by it pursuant to this Agreement; 

  
 -17- 

 (iii) this Agreement has been duly authorized, executed and delivered by
such Pledgor and constitutes a legal, valid and binding obligation of such Pledgor enforceable against such Pledgor in accordance with its terms, subject to (A) the effects of bankruptcy, insolvency, reorganization, moratorium or other similar
laws affecting creditors’ rights generally and by general equitable principles (regardless of whether enforcement is sought in equity or at law) and (B) as it relates to the pledge of any Equity Interests of any Foreign Corporations
(including any Foreign Subsidiaries of the Lead Borrower), the effects of the possible judicial application of foreign laws or foreign governmental or judicial action affecting creditors’ rights; 

(iv) except as would not reasonably be expected to have a Material Adverse Effect, no consent of any other party (including,
without limitation, any stockholder, partner, member or creditor of such Pledgor or any of its Subsidiaries) and no material consent, license, permit, approval or authorization of, exemption by, notice or report to, or registration, filing or
declaration with, any governmental authority is required to be obtained by such Pledgor (except for (x) those that have otherwise been obtained or made on or prior to the Closing Date and which remain in full force and effect on the Closing
Date and (y) filings which are necessary to perfect the security interests created under the this Agreement) in connection with (a) the execution, delivery or performance of this Agreement by such Pledgor, (b) the validity or
enforceability of this Agreement against such Pledgor, (c) the filing of any financing statements, the perfection or enforceability of the Pledgee’s security interest in such Pledgor’s Collateral or (d) except for compliance with
or as may be required by applicable securities laws, the exercise by the Pledgee of any of its rights or remedies provided herein; 

(v) neither the execution, delivery or performance by such Pledgor of this Agreement, or any other Secured Debt Agreement to
which it is a party, nor compliance by it with the terms and provisions hereof and thereof, (i) will contravene any provision of any applicable law, statute, rule or regulation, or any applicable order, writ, injunction or decree of any court
or governmental instrumentality, domestic or foreign, applicable to such Pledgor, (ii) will conflict with or result in any breach of any of the terms, covenants, conditions or provisions of, or constitute a default under, or result in the
creation or imposition of (or the obligation to create or impose) any Lien (except pursuant to the Security Documents and Permitted Liens) upon any of the properties or assets of any such Pledgor or any of its Subsidiaries pursuant to the terms of,
any indenture, mortgage, deed of trust, credit agreement or loan agreement, or any other material agreement, contract or instrument, in each case to which such Pledgor or any of its Restricted Subsidiaries is a party or by which it or any of its
properties or assets is bound or to which it may be subject (except, in the case of preceding clauses (i) and (ii), other than in the case of any contravention, breach, default and/or conflict, that would not reasonably be expected, either
individually or in the aggregate, to have a Material Adverse Effect); or (iii) will violate any provision of the certificate or articles of incorporation, certificate of formation, limited liability company agreement or by-laws (or equivalent organizational documents), as applicable, of such Pledgor or any of its Restricted Subsidiaries. 

  
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 (vi) all of such Pledgor’s Collateral (consisting of Securities,
Limited Liability Company Interests and Partnership Interests issued by any Pledgor or any Subsidiary of any Pledgor) has been duly and validly issued, is fully paid and non-assessable (other than any
assessment on the shareholders of the applicable issuer that may be imposed as a matter of law) and is subject to no options to purchase or similar rights except as set forth on Schedule 9(a) or 9(b) of the Perfection Certificate; 

(vii) except as would not reasonably be expected to have a Material Adverse Effect, each of such Pledgor’s Pledged Notes
issued by any Pledgor or any Subsidiary of any Pledgor constitutes, or when executed by the obligor thereof will constitute, the legal, valid and binding obligation of such obligor, enforceable in accordance with its terms, except to the extent that
the enforceability thereof may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally and by general equitable principles (regardless of whether enforcement is
sought in equity or at law); 
 (viii) the pledge, collateral assignment and delivery to the Pledgee of such Pledgor’s
Collateral consisting of Certificated Securities and Pledged Notes consisting of Instruments pursuant to this Agreement and the continued possession thereof by the Pledgee or an Affiliate creates a valid and perfected security interest in such
Certificated Securities and Pledged Notes, and the proceeds thereof, having the priority specified in the Intercreditor Agreement, subject to no prior Lien or encumbrance or to any agreement purporting to grant to any third party a Lien or
encumbrance on the property or assets of such Pledgor which would include the Securities (other than Permitted Liens) and the Pledgee is entitled to all the rights, priorities and benefits afforded by the UCC or other relevant law as enacted in any
relevant jurisdiction to perfect security interests in respect of such Collateral; and 
 (ix) to the extent required by
Section 3.2, the Pledgor shall have taken all steps in its control so that the Pledgee may obtain “control” (as defined in Section 8-106 of the UCC) over all of such Pledgor’s
Collateral consisting of Securities (including, without limitation, Notes that are Securities) with respect to which such “control” may be obtained pursuant to Section 8-106 of the UCC, except
to the extent that the obligation of the applicable Pledgor to provide the Pledgee with “control” of such Collateral has not yet arisen under this Agreement; provided that in the case of the Pledgee obtaining “control”
over Collateral consisting of a Security Entitlement, such Pledgor shall have taken all steps in its control so that the Pledgee obtains “control” over such Security Entitlement. 

(b) Each Pledgor covenants and agrees that it will defend the Pledgee’s right, title and security interest in and to such
Pledgor’s Collateral (whether now owned or hereinafter acquired) and the proceeds thereof against the claims and demands of all persons whomsoever (other than Permitted Liens). 

18. [Reserved]. 

  
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 19. Pledgors’ Obligations Absolute, Etc. To the maximum extent permitted by
applicable law, the obligations of each Pledgor hereunder shall remain in full force and effect without regard to, and shall not be impaired by, (a) any bankruptcy, insolvency, reorganization, arrangement, readjustment, composition, liquidation
or the like of such Pledgor; (b) any exercise or non-exercise, or any waiver of, any right, remedy, power or privilege under or in respect of this Agreement or any other Secured Debt Agreement; or
(c) any amendment to or modification of any Secured Debt Agreement or any security for any of the Obligations; whether or not such Pledgor shall have notice or knowledge of any of the foregoing. 

20. Sale of Collateral Without Registration. If at any time when the Pledgee shall determine to exercise its right to sell all or any
part of the Collateral consisting of Securities or Equity Interests pursuant to Section 7 hereof, and such Collateral or the part thereof to be sold shall not, for any reason whatsoever, be effectively registered under the Securities Act, as
then in effect, the Pledgee may, in its sole and absolute discretion, sell such Collateral or part thereof by private sale in such manner and under such circumstances as the Pledgee may deem necessary or advisable in order that such sale may legally
be effected without such registration. Without limiting the generality of the foregoing, in any such event the Pledgee, in its sole and absolute discretion (i) may proceed to make such private sale notwithstanding that a registration statement
for the purpose of registering such Collateral or part thereof shall have been filed under such Securities Act, (ii) may approach and negotiate with a single possible purchaser to effect such sale, and (iii) may restrict such sale to a
purchaser who will represent and agree, among other things, that such purchaser is purchasing for its own account, for investment, and not with a view to the distribution or sale of such Collateral or part thereof. In the event of any such sale, the
Pledgee shall incur no responsibility or liability for selling all or any part of the Collateral at a price which the Pledgee, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the
possibility that a substantially higher price might be realized if the sale were deferred until the registration as aforesaid. 
 21.
Termination; Release. 
 (a) On the Termination Date (as defined below), this Agreement shall terminate, all without delivery of any
instrument or performance of any act by any party, and all rights to the Collateral shall revert to the Pledgors (provided that all indemnities set forth herein including, without limitation, in Section 11 hereof shall survive any such
termination) and the Pledgee, at the request and expense of such Pledgor, will promptly execute and deliver to such Pledgor a proper instrument or instruments acknowledging the satisfaction and termination of this Agreement (including, without
limitation, UCC termination statements and instruments of satisfaction, discharge and/or reconveyance), and will duly release from the security interest created hereby and assign, transfer and deliver to such Pledgor (without recourse and without
any representation or warranty) such of the Collateral as may be in the possession of the Pledgee or any of its sub-agents hereunder and as has not theretofore been sold or otherwise applied or released
pursuant to this Agreement, together with any moneys at the time held by the Pledgee or any of its sub-agents hereunder and, with respect to any Collateral consisting of an Uncertificated Security, a
Partnership Interest or a Limited Liability Company Interest (other than an Uncertificated Security, Partnership Interest or Limited Liability Company Interest credited on the books of a Clearing Corporation or Securities Intermediary), a
termination of the agreement relating thereto executed and delivered by the issuer of such Uncertificated Security pursuant to Section 3.2(a)(ii). As used in this Agreement, “Termination Date” shall mean the date upon which the
Aggregate Commitments under the Credit Agreement have been terminated 

  
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and all Obligations have been paid in full, no Note under the Credit Agreement is outstanding and all Revolving Loans and LC Disbursements thereunder have been repaid in full and all Letters of
Credit have expired or otherwise terminated (other than (x) contingent indemnification obligations, (y) Letters of Credit which have been Cash Collateralized or backstopped on terms reasonably satisfactory to the Administrative Agent and
(z) obligations and liabilities under any agreement governing the Secured Bank Product Obligations not then due and payable pursuant to Section 11.11 of the Credit Agreement). 

(b) In the event that any part of the Collateral is sold or otherwise disposed of (to a Person other than a Credit Party) in connection with a
sale or disposition permitted by Section 10.02 of the Credit Agreement or is otherwise released at the direction of the Required Lenders (or all the Lenders if required by Section 13.12 of the Credit Agreement) and the proceeds of such
sale or disposition (or from such release) are applied in accordance with the terms of the Credit Agreement, to the extent required to be so applied, the security interest created hereby will be automatically released and the Pledgee will execute
and deliver such documentation, including termination or partial release statements and the like in connection therewith at the request and expense of such Pledgor and assign, transfer and deliver to such Pledgor (without recourse and without any
representation or warranty) such of the Collateral as is then being (or has been) so sold or otherwise disposed of, or released, and as may be in the possession of the Pledgee (or, in the case of Collateral held by any
sub-agent designated pursuant to Section 4 hereof, such sub-agent) and has not theretofore been released pursuant to this Agreement. Furthermore, upon the release
of any Subsidiary Guarantor from the Subsidiaries Guaranty in accordance with the provisions thereof, such Pledgor (and the Collateral at such time assigned by the respective Pledgor pursuant hereto) shall be released from this Agreement. 

(c) At any time that any Pledgor desires that the Pledgee take any action to acknowledge or give effect to any release of Collateral pursuant
to the foregoing Section 20(a) or (b), such Pledgor shall deliver to the Pledgee (and the relevant sub-agent, if any, designated pursuant to Section 4 hereof) a certificate signed by a Responsible
Officer of such Pledgor stating that the release of the respective Collateral is permitted pursuant to Section 20(a) or (b) hereof. 

(d) The Pledgee shall have no liability whatsoever to any other Secured Creditor as the result of any release of Collateral by it in
accordance with (or which the Collateral Agent in the absence of gross negligence and willful misconduct believes to be in accordance with) this Section 20. 

22. Notices, Etc. 
 (a)
Except as otherwise specified herein, all notices, requests, demands or other communications to or upon the respective parties hereto shall be sent or delivered in accordance with Section 13.03 of the Credit Agreement. All notices and other
communications shall be in writing and addressed as follows: 
 (i) if to any Pledgor, at: 

PAE Holding Corporation 
 c/o
Platinum Equity, LLC 
 360 North Crescent Drive 

Beverly Hills, CA 90210 

Facsimile: (310) 712-1863 

Attention: Legal Department 

  
 -21- 

 (ii) if to the Pledgee, at: 

Bank of America, N.A. 

1600 JFK Boulevard, 11th Floor 

Philadelphia, PA 19103 

Attention: Kevin Corcoran 

Telephone No.: (267)-675-0162 

Email: kevin.w.corcoran@baml.com 

(iii) if to any Lender Creditor, either (x) to the Administrative Agent, at the address of the Administrative Agent
specified in the Credit Agreement, or (y) at such address as such Lender Creditor shall have specified in the Credit Agreement; and 

(iv) if to any Guaranteed Creditor, at such address as such Guaranteed Creditor shall have specified in writing to the Pledgors
and the Pledgee; 
 or at such other address or addressed to such other individual as shall have been furnished in writing by any Person described above to
the party required to give notice hereunder. 
 (b) [reserved] 

23. Waiver; Amendment. Except as provided in Sections 30 and 32 hereof, none of the terms and conditions of this Agreement may be
changed, waived, modified or varied in any manner whatsoever except in accordance with the requirements specified in the Security Agreement. 

24. Successors and Assigns. This Agreement shall create a continuing security interest in the Collateral and shall (i) remain in
full force and effect, subject to release and/or termination as set forth in Section 20, (ii) be binding upon each Pledgor, its successors and assigns; provided, however, that no Pledgor shall assign any of its rights or
obligations hereunder without the prior written consent of the Pledgee and (iii) inure, together with the rights and remedies of the Pledgee hereunder, to the benefit of the Pledgee, the other Secured Creditors and their respective successors,
transferees and permitted assigns. All agreements, statements, representations and warranties made by each Pledgor herein or in any certificate or other instrument delivered by such Pledgor or on its behalf under this Agreement shall be considered
to have been relied upon by the Secured Creditors and shall survive the execution and delivery of this Agreement and the other Secured Debt Agreements regardless of any investigation made by the Secured Creditors or on their behalf. 

  
 -22- 

 25. Headings Descriptive. The headings of the several Sections of this Agreement are
inserted for convenience only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 26.
GOVERNING LAW; SUBMISSION TO JURISDICTION; VENUE; WAIVER OF JURY TRIAL. 
 (a) THIS AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT (EXCEPT THAT, (X) IN THE CASE OF ANY COLLATERAL
LOCATED IN ANY STATE OTHER THAN NEW YORK, PROCEEDINGS MAY BE BROUGHT BY THE ADMINISTRATIVE AGENT OR PLEDGEE IN THE STATE IN WHICH THE RELEVANT COLLATERAL IS LOCATED OR ANY OTHER RELEVANT JURISDICTION AND (Y) IN THE CASE OF ANY BANKRUPTCY,
INSOLVENCY OR SIMILAR PROCEEDING, WITH RESPECT TO ANY PLEDGOR, ACTIONS OR PROCEEDINGS RELATED TO THIS AGREEMENT MAY BE BROUGHT IN SUCH COURT HOLDING SUCH BANKRUPTCY, INSOLVENCY OR SIMILAR PROCEEDINGS) MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW
YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK, IN EACH CASE WHICH ARE LOCATED IN THE COUNTY OF NEW YORK, AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY ACCEPTS FOR ITSELF AND IN
RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS. EACH PARTY HERETO HEREBY FURTHER IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH COURTS LACK PERSONAL JURISDICTION OVER IT, AND AGREES NOT TO
PLEAD OR CLAIM IN ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT BROUGHT IN ANY OF THE AFOREMENTIONED COURTS THAT ANY SUCH COURT LACKS PERSONAL JURISDICTION OVER IT. EACH PARTY HERETO FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF
PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY, AS THE CASE MAY BE, AT ITS ADDRESS FOR NOTICES AS PROVIDED IN SECTION
21 ABOVE, SUCH SERVICE TO BECOME EFFECTIVE 30 DAYS AFTER SUCH MAILING. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING
COMMENCED HEREUNDER THAT SUCH SERVICE OF PROCESS WAS IN ANY WAY INVALID OR INEFFECTIVE. NOTHING HEREIN SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE
PROCEED AGAINST ANY OTHER SUCH PARTY IN ANY OTHER JURISDICTION. 

  
 -23- 

 (b) EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER CREDIT DOCUMENT BROUGHT IN THE COURTS REFERRED TO IN CLAUSE (a) ABOVE AND HEREBY FURTHER IRREVOCABLY
WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 

(c) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER CREDIT DOCUMENTS OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. 
 27.
Pledgor’s Duties. It is expressly agreed, anything herein contained to the contrary notwithstanding, that each Pledgor shall remain liable to perform all of the obligations, if any, assumed by it with respect to the Collateral and the
Pledgee shall not have any obligations or liabilities with respect to any Collateral by reason of or arising out of this Agreement, except for the safekeeping of Collateral actually in Pledgor’s possession, nor shall the Pledgee be required or
obligated in any manner to perform or fulfill any of the obligations of any Pledgor under or with respect to any Collateral. 
 28.
Counterparts. This Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall constitute an original, but all of which, when taken
together, shall constitute one and the same instrument. A set of counterparts executed by all the parties hereto shall be lodged with each Pledgor and the Pledgee. Delivery of an executed signature page to this Agreement by facsimile, PDF or other
electronic transmission shall be as effective as delivery of an original executed counterpart of this Agreement. 
 29. Severability.
Any provision of this Agreement 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, and
any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

30. [Reserved]. 
 31.
Additional Pledgors. It is understood and agreed that any Subsidiary Guarantor that is required to become a party to this Agreement after the date hereof pursuant to the requirements of the Credit Agreement or any other Credit Document, shall
become a Pledgor hereunder by executing and delivering to the Pledgee a joinder agreement substantially in the form of Exhibit A attached hereto and taking all actions as specified in this Agreement as would have been taken by such Pledgor
had it been an original party to this Agreement, in each case with all documents required above to be delivered to the Pledgee and with all documents and actions required above to be taken to the reasonable satisfaction of the Pledgee. 

  
 -24- 

 32. Limited Obligations. It is the desire and intent of each Pledgor and the Secured
Creditors that this Agreement shall be enforced against each Pledgor to the fullest extent permissible under the laws applied in each jurisdiction in which enforcement is sought. 

Notwithstanding anything to the contrary contained herein, in furtherance of the foregoing, it is noted that the obligations of each Pledgor constituting a
Subsidiary Guarantor have been limited as provided in the Subsidiaries Guaranty. 
 33. Release of Pledgors. If at any time all of
the Equity Interests of any Pledgor owned by the Lead Borrower or any of its Subsidiaries are sold (to a Person other than a Credit Party) in a transaction permitted pursuant to the Credit Agreement, then, such Pledgor shall be released as a Pledgor
pursuant to this Agreement without any further action hereunder (it being understood that the sale of all of the Equity Interests in any Person that owns, directly or indirectly, all of the Equity Interests in any Pledgor shall be deemed to be a
sale of all of the Equity Interests in such Pledgor for purposes of this Section), and the Pledgee is authorized and directed to execute and deliver such instruments of release as are reasonably satisfactory to it. At any time that the Lead Borrower
desires that the Pledgee take any action in accordance with this Section 32, the Lead Borrower shall deliver to the Pledgee a certificate signed by a Responsible Officer of the Lead Borrower stating that the release of such Pledgor is permitted
pursuant to this Section 32. 
 33. Intercreditor Agreement. This Agreement and the other Credit Documents are subject to the
terms and conditions set forth in the Intercreditor Agreement in all respects and, in the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of Intercreditor Agreement shall govern. Notwithstanding
anything herein to the contrary, the Lien and security interest granted to the Pledgee pursuant to any Credit Document and the exercise of any right or remedy in respect of the Collateral by the Pledgee (or any Secured Creditor) hereunder or under
any other Credit Document are subject to the provisions of the Intercreditor Agreement and in the event of any conflict between the terms of the Intercreditor Agreement, this Agreement and any other Credit Document, the terms of the Intercreditor
Agreement shall govern and control with respect to the exercise of any such right or remedy. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, no Credit Party shall be required hereunder or under
any Credit Document to take any action with respect to the Collateral that is inconsistent with such Credit Parties’ obligations under the Intercreditor Agreement. Prior to the Discharge of Fixed Asset Obligations (as defined in the
Intercreditor Agreement), the delivery or granting of “control” (as defined in the UCC) to the extent only one Person can be granted “control” therein under applicable law of any Fixed Asset Collateral (as defined in the
Intercreditor Agreement) to the collateral agent under the Term Loan Credit Agreement pursuant to the terms of the Fixed Asset Collateral Documents (as defined in the Intercreditor Agreement) shall satisfy any such delivery or granting of
“control” requirement hereunder or under any other Credit Document with respect to any Fixed Asset Collateral to the extent that such delivery or granting of “control” is consistent with the terms of the Intercreditor Agreement.

 * * * * 

  
 -25- 

 IN WITNESS WHEREOF, each Pledgor and the Pledgee have caused this Agreement to be executed
by their duly elected officers duly authorized as of the date first above written. 
  

					
	SHAY INTERMEDIATE HOLDING II
	CORPORATION, as a Pledgor
		
	By:	 	/s/ Mary Ann Sigler
		 	Name:	 	 Mary Ann Sigler

		 	Title:	 	 President and Treasurer

	
	PAE HOLDING CORPORATION, as a Pledgor
		
	By:	 	/s/ Paul W. Cobb, Jr.
		 	Name:	 	Paul W. Cobb, Jr.
		 	Title:	 	Vice President
	
	 PACIFIC ARCHITECTS AND ENGINEERS

INCORPORATED, as a Pledgor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name:	 	Richard Kirk von Seelen
		 	Title:	 	Vice President
	
	 PAE GOVERNMENT SERVICES, INC.,
 as a
Pledgor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name:	 	Richard Kirk von Seelen
		 	Title:	 	Treasurer
	
	 PACIFIC OPERATION MAINTENANCE

COMPANY,
 as a Pledgor

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name:	 	Richard Kirk von Seelen
		 	Title:	 	Treasurer

 [PAE – Signature Page to Pledge Agreement (ABL)] 

 
					
	PAE DESIGN AND FACILITY MANAGEMENT, as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name:	 	 Richard Kirk von Seelen

		 	Title:	 	Treasurer
	
	PAE PROFESSIONAL SERVICES, INC.,
as a Pledgor
		
	 By:
	 	/s/ Stephanie Finn
		 	Name:	 	Stephanie Finn
		 	Title:	 	Assistant Secretary
	
	PAE LABAT-ANDERSON INCORPORATED,
as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name:	 	Stephanie Finn
		 	Title:	 	Assistant Secretary
	
	A-T SOLUTIONS, INC.,
as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name:	 	Richard Kirk von Seelen
		 	Title:	 	Treasurer
	
	PAE JUSTICE SUPPORT,
as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name:	 	Stephanie Finn
		 	Title:	 	Assistant Secretary

 [PAE – Signature Page to Pledge Agreement (ABL)] 

 
			
	DEFENSE SUPPORT SERVICES INTERNATIONAL 3 LLC, as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title:   Assistant Secretary

  

			
	PAE TRAINING SERVICES, LLC, as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	PAE HUMANITARIAN RESPONSE LLC, as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	DEFENSE SUPPORT SERVICES INTERNATIONAL, LLC, as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title:   Assistant Secretary

  

			
	DEFENSE SUPPORT SERVICES INTERNATIONAL 2 LLC, as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title:   Assistant Secretary

  
 [PAE – Signature
Page to Pledge Agreement (ABL)] 

 
			
	PAE AVIATION AND TECHNICAL SERVICES LLC,
as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	PAE APPLIED TECHNOLOGIES LLC,
as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	PAE HANFORD LLC,
as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	DYNCORP, as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	PAE SHIELD ACQUISITION COMPANY, INC.,
as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title:   Assistant Secretary

  
 [PAE – Signature
Page to Pledge Agreement (ABL)] 

 
			
	A-T SOLUTIONS CORPORATE HOLDINGS PRIME, INC., as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	A-T SOLUTIONS CORPORATE HOLDINGS, INC.,
as a Pledgor
		
	By:	 	 /s/ Richard Kirk von Seelen 

		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	A-T SOLUTIONS HOLDINGS, INC.,
as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	PAE INTERNATIONAL,
as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	AFGHAN HOLDCO LLC,
as a Pledgor
		
	By:	 	/s/ Stephanie Finn
		 	Name: Stephanie Finn
		 	Title:   Assistant Secretary

  
 [PAE – Signature
Page to Pledge Agreement (ABL)] 

  

			
	PAE LOGISTICS LLC, as a Pledgor
		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  

			
	 ACCELLIGENCE LLC, as a Pledgor

	
	 By: A-T SOLUTIONS, INC., its sole member

		
	By:	 	/s/ Richard Kirk von Seelen
		 	Name: Richard Kirk von Seelen
		 	Title:   Treasurer

  
 [PAE – Signature
Page to Pledge Agreement (ABL)] 

  

			
	Accepted and Agreed to:
	
	BANK OF AMERICA, N.A.,
	 as Collateral Agent and Pledgee

		
	By:	 	/s/ James Foley
		 	Name: James Foley
		 	Title:   Senior Vice President

  
 [PAE – Signature
Page to Pledge Agreement (ABL)] 

 ANNEX A 

to 
 ABL PLEDGE AGREEMENT 

Form of Agreement Regarding Uncertificated Securities, Limited Liability 

Company Interests and Partnership Interests 

AGREEMENT (as amended, modified, restated and/or supplemented from time to time, this “Agreement”), dated as of
[                     , 20    ], among the undersigned pledgor (the “Pledgor”),
[                        ], not in its individual capacity but solely as Collateral Agent (the
“Pledgee”), and [                        ], as the issuer of the Uncertificated Securities, Limited
Liability Company Interests and/or Partnership Interests (each as defined below) (the “Issuer”). Except as otherwise defined herein, all capitalized terms used herein and defined in the Pledge Agreement (as defined below) shall be
used herein as therein defined. 
 W I T N E S S E T H : 

WHEREAS, the Pledgor, certain of its affiliates and the Pledgee have entered into an ABL Pledge Agreement, dated as of October 20, 2016
(as amended, modified, restated and/or supplemented from time to time, the “Pledge Agreement”), under which, among other things, in order to secure the payment of the Obligations (as defined in the Pledge Agreement), the Pledgor has
or will pledge to the Pledgee for the benefit of the Secured Creditors (as defined in the Pledge Agreement), and grant a security interest in favor of the Pledgee for the benefit of the Secured Creditors in, all of the right, title and interest of
the Pledgor in and to certain [“uncertificated securities” (as defined in Section 8-102(a)(18) of the Uniform Commercial Code, as adopted in the State of New York) (“Uncertificated
Securities”)] [Partnership Interests (as defined in the Pledge Agreement)] [Limited Liability Company Interests (as defined in the Pledge Agreement)], from time to time issued by the Issuer, whether now existing or hereafter from time to
time acquired by the Pledgor (with all of such [Uncertificated Securities] [Partnership Interests] [Limited Liability Company Interests] being herein collectively called the “Issuer Pledged Interests”); and 

WHEREAS, the Pledgor desires the Issuer to enter into this Agreement in order to perfect the security interest of the Pledgee under the Pledge
Agreement in the Issuer Pledged Interests, to vest in the Pledgee control of the Issuer Pledged Interests and to provide for the rights of the parties under this Agreement; 

NOW, THEREFORE, in consideration of the premises and the mutual promises and agreements contained herein, and for other valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. The Pledgor
hereby irrevocably authorizes and directs the Issuer, and the Issuer hereby agrees, to comply with any and all instructions and orders originated by the Pledgee (and its successors and assigns) regarding any and all of the Issuer Pledged Interests
without the further consent by the registered owner (including the Pledgor), and, following its receipt of a notice from the Pledgee stating that the Pledgee is exercising exclusive control of the Issuer Pledged Interests, not to comply with any
instructions or orders regarding any or all of the Issuer Pledged Interests originated by any person or entity other than the Pledgee (and its successors and assigns) or a court of competent jurisdiction. 

 2. All notices, statements of accounts, reports, prospectuses, financial statements and
other communications to be sent to the Pledgor by the Issuer in respect of the Issuer will also be sent to the Pledgee at the following address: 

Bank of America, N.A. 
 1600 JFK
Boulevard, 11th Floor 
 Philadelphia, PA 19103 

Attention: Kevin Corcoran 

Telephone No.: (267)-675-0162 

Email: kevin.w.corcoran@baml.com 

3. Following its receipt of a notice from the Pledgee stating that the Pledgee is exercising exclusive control of the Issuer Pledged Interests
and until the Pledgee shall have delivered written notice to the Issuer that the Termination Date has occurred and this Agreement is terminated, the Issuer will send any and all redemptions, distributions, interest or other payments in respect of
the Issuer Pledged Interests from the Issuer for the account of the Pledgee only by wire transfers to such account as the Pledgee shall instruct. 

4. Except as expressly provided otherwise in Sections 4 and 5, all notices, instructions, orders and communications hereunder shall be sent or
delivered by mail, telegraph, telex, telecopy, cable or overnight courier service and all such notices and communications shall, when mailed, telexed, telecopied, cabled or sent by overnight courier, be effective when deposited in the mails or
delivered to overnight courier, prepaid and properly addressed for delivery on such or the next Business Day, or sent by telex or telecopier, except that notices and communications to the Pledgee or the Issuer shall not be effective until received.
All notices and other communications shall be in writing and addressed as follows: 
  

	 	(a)	 if to the Pledgor, at: 

________________________ 

________________________ 

________________________ 
  

	 	(b)	 if to the Pledgee, at the address given in Section 4 hereof; 

 

	 	(c)	 if to the Issuer, at: 

______________________ 

______________________ 

______________________ 

 or at such other address as shall have been furnished in writing by any person described above to the party
required to give notice hereunder. As used in this Section 6, “Business Day” means any day other than a Saturday, Sunday, or other day in which banks in New York are authorized to remain closed. 

5. This Agreement shall be binding upon the successors and assigns of the Pledgor and the Issuer and shall inure to the benefit of and be
enforceable by the Pledgee and its successors and permitted assigns. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which shall constitute one instrument. In the event that any provision
of this Agreement shall prove to be invalid or unenforceable, such provision shall be deemed to be severable from the other provisions of this Agreement which shall remain binding on all parties hereto. None of the terms and conditions of this
Agreement may be changed, waived, modified or varied in any manner whatsoever except in writing signed by the Pledgee, the Issuer and the Pledgor. 

6. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 

7. The rights and powers granted herein to the Pledgee have been granted in order to perfect its security interest in the Issuer Pledged
Interests. This Agreement shall continue in effect until the security interest of the Pledgee in the Issuer Pledged Interests has been terminated and the Pledgee has notified the Issuer of such termination in writing. Upon receipt of such notice the
obligations of Issuer pursuant to this Agreement with respect to the Issuer Pledged Interests after the receipt of such notice shall terminate, the Pledgee shall have no further right to originate instructions concerning the Issuer Pledged Interests
and the Issuer may thereafter take such steps as the Pledgor may request to vest full ownership and control of the Issuer Pledged Interests in the Pledgor. The Pledgor may only terminate this Agreement with the written consent of the Pledgee;
provided that, by giving such notice with the Pledgee’s written consent, both the Pledgor and the Pledgee acknowledge that they will thereby be confirming that, as of the termination date set forth in such notice, the Pledgee will no longer
have a perfected security interest in the Issuer Pledged Interests via control pursuant to this Agreement. Subject to the foregoing, this Agreement automatically terminates when the Pledgee notifies the Issuer that all obligations owed to the
Pledgee have been paid in full and the Pledgee has terminated its security interest in the Issuer Pledged Interests. 
 8. This Agreement is
subject to the terms and conditions set forth in the Intercreditor Agreement (as defined in the Credit Agreement) in all respects and, in the event of any conflict between the terms of the Intercreditor Agreement and this Agreement, the terms of
Intercreditor Agreement shall govern. 

 IN WITNESS WHEREOF, the Pledgor, the Pledgee and the Issuer have caused this Agreement to be
executed by their duly elected officers duly authorized as of the date first above written. 
  

			
	[________], as Pledgor
		
	By:	 	 
		 	Name:
		 	Title:
	
	BANK OF AMERICA, N.A.,
not in its individual capacity but solely as Collateral Agent and Pledgee
		
	By:	 	 
		 	Name:
		 	Title:
	
	[________], as the Issuer
		
	By:	 	 
		 	Name:
		 	Title:

 EXHIBIT A 

TO 
 ABL PLEDGE AGREEMENT 

[FORM OF] 
 JOINDER
AGREEMENT 
 Reference is made to the ABL Pledge Agreement, dated as of October 20, 2016 (as amended, amended and restated,
modified, supplemented, extended or renewed from time to time, the “Pledge Agreement”), among Shay Intermediate Holding II Corporation, a Delaware corporation (“Holdings”), PAE Holding Corporation, a Delaware
corporation (the “Lead Borrower”), certain subsidiaries of the Lead Borrower (together with the Lead Borrower, the “Borrowers”), the other pledgors party thereto from time to time (together with Holdings and the
Borrowers, the “Pledgors”) and Bank of America, N.A., as collateral agent (together with any successor collateral agent, the “Pledgee”). Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Pledge Agreement. 
 W I T N E S S E T H: 

WHEREAS, the Pledgors have entered into the Pledge Agreement in order to induce the Lenders to make Revolving Loans to, and issue Letters of
Credit to, the Borrowers and the Other Creditors to enter into Secured Bank Product Obligations with the Lead Borrower and/or one or more of its Subsidiaries; 

WHEREAS, the undersigned Subsidiary (the “New Pledgor”) is required pursuant to the terms of the Credit Agreement and the
Pledge Agreement, or the Lead Borrower has otherwise elected in accordance with the terms of the Credit Agreement and the Pledge Agreement to cause such New Pledgor, to become a Pledgor by executing this joinder agreement (this “Joinder
Agreement”) to the Pledge Agreement; 
 NOW, THEREFORE, the New Pledgor and the Pledgee for the benefit of the Secured Creditors
hereby agree as follows: 
 1. Pledge of Securities. In accordance with Section 30 of the Pledge Agreement, the New Pledgor by
its signature below becomes a Pledgor under the Pledge Agreement with the same force and effect as if originally named therein as a Pledgor. As security for the prompt and complete payment or performance, as the case may be, when due of all of the
Obligations, the New Pledgor does hereby pledge and grant to the Collateral Agent, for the benefit of the Secured Creditors, a continuing security interest in all of the right, title and interest of such Pledgor in, to and under all of its
Collateral, in each case whether now existing or hereafter from time to time acquired (but excluding any Excluded Collateral) 
 2.
Representations and Warranties. The New Pledgor hereby agrees to all the terms and provisions of the Pledge Agreement applicable to it as a Pledgor thereunder. Each reference to a Pledgor in the Pledge Agreement shall, from and after the date
hereof, be deemed to include the New Pledgor. 
 3. Certain Representations and Warranties Regarding the Collateral. The New Pledgor
represents and warrants that on the date hereof: (i) each Subsidiary of such New Pledgor, and the direct ownership thereof, is listed in Schedule 9(a) of the Perfection Certificate delivered in connection with this Joinder Agreement (the
“Perfection Certificate”); (ii) the Equity Interests (and any warrants or options to purchase Equity Interests), in each case of any such Equity Interests in a Person that is not a Subsidiary of

 
the Lead Borrower to the extent valued in excess of $1,000,000, held by such New Pledgor consists of the number and type of shares of the Equity Interests (or warrants or options to purchase any
Equity Interests) of the corporations as described in Schedule 9(b) of the Perfection Certificate; (iii) such Equity Interests referenced in clause (ii) of this paragraph constitutes that percentage of the issued and outstanding Equity
Interests of the issuing corporation (or other applicable issuer) as is set forth in Schedule 9(b) of the Perfection Certificate; (iv) the Notes held by such New Pledgor consist of the intercompany notes and the promissory notes described in
Schedule 10 of the Perfection Certificate where such Pledgor is listed as the lender, in each case to the extent any such Note exceeds $1,000,000; (v) the Limited Liability Company Interests held by such New Pledgor and required to be pledged
hereunder consist of the number and type of interests of the Persons described in Schedule 9(a) and Schedule 9(b) of the Perfection Certificate; (vi) each such Limited Liability Company Interest referenced in clause (v) of this paragraph
constitutes that percentage of the issued and outstanding equity interest of the issuing Person as set forth in Schedule 9(a) and Schedule 9(b) of the Perfection Certificate; (vii) the Partnership Interests held by such New Pledgor and required
to be pledged hereunder consist of the number and type of interests of the Persons described in Schedule 9(a) and Schedule 9(b) of the Perfection Certificate; (viii) each such Partnership Interest referenced in clause (viii) of this
paragraph constitutes that percentage or portion of the entire partnership interest of the Partnership as set forth in Schedule 9(a) and Schedule 9(b) of the Perfection Certificate; (ix) the New Pledgor has complied with the respective
procedure set forth in Section 3.2(a) of the Pledge Agreement (to the extent applicable and required thereby) with respect to each item of Collateral described in Schedules 9(a), 9(b) and 10 of the Perfection Certificate; and (x) on the
date hereof, such Pledgor owns no other Securities, Equity Interests, Notes, Limited Liability Company Interests or Partnership Interests which are required to be listed on such Schedules and pledged under Section 3.1 of the Pledge Agreement.

 4. Severability. Any provision of this Joinder Agreement 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, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. 
 5. Counterparts. This Joinder Agreement may be executed in counterparts,
each of which shall constitute an original. Delivery of an executed signature page to this Joinder Agreement by facsimile, PDF or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this
Joinder Agreement. 
 6. No Waiver. Except as expressly supplemented hereby, the Pledge Agreement shall remain in full force and
effect. 
 7. Notices. All notices, requests and demands to or upon the New Pledgor, any Pledgor or the Pledgee shall be
governed by the terms of Section 21 of the Pledge Agreement. 
 8. Governing Law. THIS JOINDER AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 

[Signature Pages Follow] 

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

			
	[                ],
	
	as a Pledgor
		
	By:	 	 
		 	Title:

 Accepted and Agreed: 

BANK OF AMERICA, N.A., 
 not in its individual capacity but
solely as Collateral Agent and Pledgee 
  

			
		
	By:	 	 
		 	Name:
		 	Title:

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