Document:

irwd_Ex10_20_10

		
			Exhibit 10.20.10
		

		
			 
		

		
			ELEVENTH AMENDMENT TO LEASE
		

		
			THIS ELEVENTH AMENDMENT TO LEASE (this “Amendment”) is entered into as of this 30th day of June, 2016 (the “Execution Date”), by and between BMR-ROGERS STREET LLC, a Delaware limited liability company (“Landlord,” as successor-in-interest to Rogers Street, LLC (“Original Landlord”)), and IRONWOOD PHARMACEUTICALS, INC., a Delaware corporation (“Tenant,” formerly known as Microbia, Inc.).
		

		
			RECITALS
		

		
			A.         WHEREAS, Original Landlord and Tenant entered into that certain Lease dated as of January 12, 2007, as amended by that certain First Amendment to Lease dated as of April 9, 2009, that certain Second Amendment to Lease dated as of February 9, 2010, that certain Third Amendment to Lease dated as of July 1, 2010, that certain Fourth Amendment to Lease dated as of February 3, 2011, that certain Fifth Amendment to Lease dated as of October 18, 2011, that certain Sixth Amendment to Lease dated as of July 19, 2012, that certain Seventh Amendment to Lease dated as of October 30, 2012 (the “Seventh Amendment”), that certain Eighth Amendment to Lease dated as of July 8, 2014 (the “Eighth Amendment”), that certain Ninth Amendment to Lease dated as of October 27, 2014, and that certain Tenth Amendment to Lease dated as of January 21, 2015 (the “Tenth Amendment”) (collectively, and as the same may have been heretofore further amended, amended and restated, supplemented or modified from time to time, the “Existing Lease”), whereby Tenant leases certain premises (the “Premises”) from Landlord at 301 Binney Street in Cambridge, Massachusetts (the “Building”):
		

		
			B.         WHEREAS, pursuant to the Seventh Amendment, Landlord and Tenant agreed to extend the Initial Term of the Lease by twenty-four (24) months, with the period of time from February 1, 2016 through January 31, 2018 defined as the “Extension Term”;
		

		
			C.         WHEREAS, the Existing Lease provided a method for determining the Base Rent for the Premises during the Extension Term and the parties conclusively agreed upon such determination pursuant to that certain letter agreement dated April 26, 2016 (the “FMV Rent Letter”);
		

		
			D.         WHEREAS, Landlord and Tenant now desire to memorialize in an amendment to the Existing Lease the agreed-upon Base Rent for the Premises during the Extension Term; and
		

		
			E.         WHEREAS, Landlord and Tenant desire to modify and amend the Existing Lease only in the respects and on the conditions hereinafter stated.
		

		
			AGREEMENT
		

		
			NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:
		

		
			1.         Definitions. For purposes of this Amendment, capitalized terms shall have the meanings ascribed to them in the Existing Lease unless otherwise defined herein. The Existing Lease, as amended by this Amendment, is referred to collectively herein as the “Lease.”
		

		
			
		

		
			

		 

 

		

		
			2.         Base Rent during the Extension Term. Effective as of the first day of the Extension Term, Base Rent due to Landlord under the Lease shall be as follows:
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Dates

					
					
						Square Feet
of Rentable Area

					
					
						Base Rent
per Square Foot
of Rentable Area

					
					
						Monthly
Base Rent

					
					
						Annual
Base Rent

				
	
					
						2/1/2016 – 5/31/2016

					
					
						8,693
(Additional Premises 1st Floor)

					
					
						$0 annually

					
					
						$0

					
					
						-

				
	
					
						 

					
					
						23,187
(Additional Premises Fifth Phase Stage 4)

					
					
						$0 annually

					
					
						$0

					
					
						-

				
	
					
						 

					
					
						279,822
(Balance of Premises)

					
					
						$67.00 annually

					
					
						$1,562,339.50

					
					
						-

				
	
					
						6/1/2016 – 1/31/2018

					
					
						8,693
(Additional Premises 1st Floor)

					
					
						$0 annually

					
					
						$0

					
					
						$0

				
	
					
						 

					
					
						303,009
(Balance of Premises)

					
					
						$67.00 annually

					
					
						$1,691,800.25

					
					
						$20,301,603.00

				

		
			 
		

		
			For clarity, (a) pursuant to the Tenth Amendment, Tenant shall have no obligation to pay Base Rent with respect to the Additional Premises Fifth Phase Stage 4 (as defined in the Tenth Amendment) during the Extension Term until June 1, 2016, (b) pursuant to the Eighth Amendment, Tenant shall have no obligation to pay Base Rent with respect to the Additional Premises 1st Floor (as defined in the Eighth Amendment) during the entire Extension Term; provided, however, such abatement of Base Rent with respect to the Additional Premises 1st Floor shall not apply to any further extension of the Term pursuant to an Option, and (c) notwithstanding anything in the Existing Lease to the contrary, Base Rent shall not increase during the Extension Term except as shown in the above chart.
		

		
			To the extent Landlord charged Tenant, and Tenant paid, Base Rent for any portion of the Extension Term prior to the Execution Date at a rate lower or higher than the applicable rate set forth in this Section 2, then Landlord shall calculate and either charge or credit Tenant (as applicable) the difference between the amount of Base Rent Tenant actually paid and the amount of Base Rent applicable for such portion of the Extension Term pursuant to this Section 2. Such amount, to the extent undisputed by the parties, shall be paid by Tenant or credited by Landlord (as applicable) within forty-five (45) days of receipt by Tenant of written notice from Landlord showing in detail such calculation and the difference in actual Base Rent paid by Tenant.
		

		
			3.         Broker. Tenant represents and warrants that other than Cassidy Turley Commercial Real Estate Services, Inc., d/b/a Cushman & Wakefield (“Broker”), it has had no 
		

		
			
		

		
			

		 

 

		

		
			dealings with any real estate broker or agent in connection with the negotiation of this Amendment, and that it knows of no real estate broker or agent that is or might be entitled to a commission in connection with the representation of Tenant in connection with this Amendment. Broker is not entitled to any commission pursuant to this Amendment.
		

		
			(a)         Tenant represents and warrants that no broker or agent has made any representation or warranty relied upon by Tenant in Tenant’s decision to enter into this Amendment, other than as contained in this Amendment.
		

		
			(b)         Tenant acknowledges and agrees that the employment of brokers by Landlord is for the purpose of solicitation of offers of leases from prospective tenants and that no authority is granted to any broker to furnish any representation (written or oral) or warranty from Landlord unless expressly contained within this Amendment. Landlord is executing this Amendment in reliance upon Tenant’s representations, warranties and agreements contained within Section 3,  Section 3(a) and this Section 3(b).
		

		
			(c)         Tenant agrees to indemnify, save, defend and hold Landlord harmless from any and all cost or liability for compensation claimed by Broker, any other broker or agent, employed or engaged by Tenant or claiming to have been employed or engaged by Tenant.
		

		
			(d)         Landlord agrees to indemnify, save, defend and hold Tenant harmless from any and all cost or liability for compensation claimed by any broker or agent employed or engaged by Landlord or claiming to have been employed or engaged by Landlord, including Transwestern RBJ, LLC (“Landlord Broker”). No commission, fee or other compensation is due to Landlord Broker or any other Landlord broker(s) in connection with this Amendment.
		

		
			4.         Default. Tenant represents, warrants and covenants that, to the best of Tenant’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder. Landlord represents, warrants and covenants that, to the best of Landlord’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder.
		

		
			5.         Effect of Amendment. Except as modified by this Amendment, the Existing Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. In the event of any conflict between the terms contained in this Amendment and the Existing Lease or the FMV Rent Letter, the terms herein contained shall supersede and control the obligations and liabilities of the parties. From and after the date hereof, the term “Lease” as used in the Lease shall mean the Existing Lease, as modified by this Amendment.
		

		
			6.         Successors and Assigns. Each of the covenants, conditions and agreements contained in this Amendment shall inure to the benefit of and shall apply to and be binding upon the parties hereto and their respective heirs, legatees, devisees, executors, administrators and 
		

		
			
		

		
			

		 

 

		

		
			permitted successors and assigns and sublessees. Nothing in this section shall in any way alter the provisions of the Lease restricting assignment or subletting.
		

		
			7.         Miscellaneous. This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof. All exhibits hereto are incorporated herein by reference. Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or otherwise until execution by and delivery to both Landlord and Tenant.
		

		
			8.         Authority. Landlord and Tenant have all necessary and proper authority, without the need for the consent of any other person or entity, other than any consents that have been obtained, to enter into and perform under this Amendment.
		

		
			9.         Counterparts; Facsimile and PDF Signatures. This Amendment may be executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document. A facsimile or portable document format (PDF) signature on this Amendment shall be equivalent to, and have the same force and effect as, an original signature.
		

		
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			IN WITNESS WHEREOF, Landlord and Tenant have executed this Amendment as a sealed Massachusetts instrument as of the date and year first above written.
		

			
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						LANDLORD:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						BMR-ROGERS STREET LLC,

					
					
						 

				
	
					
						a Delaware limited liability company

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ William Kane

					
					
						 

				
	
					
						 

					
					
						Name:  

					
					
						William Kane

					
					
						 

				
	
					
						 

					
					
						Title:  

					
					
						Senior Vice President East Coast Leasing

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						TENANT:

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						IRONWOOD PHARMACEUTICALS, INC.,

					
					
						 

				
	
					
						a Delaware corporation

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Thomas Graney

					
					
						 

				
	
					
						 

					
					
						Name:  

					
					
						Thomas Graney

					
					
						 

				
	
					
						 

					
					
						Title:  

					
					
						CFOCommitment Letter

 Exhibit 10.39 

EXECUTION VERSION 
  

			
	JPMORGAN CHASE BANK, N.A.
383 Madison Avenue
New York, New York 10179	  	 WELLS FARGO BANK, NATIONAL ASSOCIATION

WELLS FARGO SECURITIES, LLC
 550
South Tryon Street
 Charlotte, North Carolina 28202

 CONFIDENTIAL 

February 21, 2017 
 1011778 B.C. Unlimited
Liability Company 
 874 Sinclair Road 
 Oakville, Ontario 

Attention: Joshua Kobza 
 Project Skipper

 Commitment Letter 
 Ladies and
Gentlemen: 
 You have advised JPMorgan Chase Bank, N.A. (“JPMCB”), Wells Fargo Bank, National Association
(“Wells Fargo”) and Wells Fargo Securities, LLC (“WF Securities” and, together with JPMCB, Wells Fargo and any additional institutions appointed in accordance with Section 2,
“we” and “us” or the “Commitment Parties”) that 1011778 B.C. Unlimited Liability Company, an unlimited liability company organized under the laws of British
Columbia (“you” or the “Parent Borrower”) intends to enter into transactions pursuant to which it will acquire (the “Acquisition”), directly or indirectly
(i) the capital stock of an entity previously identified to us by you as “Skipper” (the “Target” and, together with the Parent Borrower and New Red Finance, Inc., a Delaware corporation (the
“Subsidiary Borrower” and, together with the Parent Borrower, the “Borrowers”) and your respective subsidiaries, the “Companies”). You have further advised us that, in
connection with the foregoing, the Companies intend to consummate the other Transactions described in the Transaction Description attached hereto as Exhibit A (the “Transaction Description”). Capitalized terms used but not
defined herein shall have the meanings assigned to them in the Transaction Description or the Summary of Principal Terms and Conditions attached hereto as Exhibit B (the “Senior Term Sheet”; this commitment letter, the
Transaction Description, the Senior Term Sheet and the Summary of Additional Conditions attached hereto as Exhibit C, collectively, the “Commitment Letter”). 

 

	 	1.	Commitments. 

 In connection with the Transactions, each of JPMCB and Wells Fargo
(together with any other initial lender that becomes a party hereto, each an “Initial Lender” and, collectively, the “Initial Lenders”) is pleased to advise you of its commitment, jointly
and not severally, to (and hereby agree to provide the same percentage of any increased amounts as a result of the exercise of any “market flex” provisions of the fee letter dated as of the date hereof by and among us and you (the
“Fee Letter”) provide (i) with respect to JPMCB, 50% and (ii) with respect to Wells Fargo, 50%, in each case of the entire aggregate principal amount of the Incremental Term Facility subject only to the satisfaction
of the conditions set forth in the section entitled “Conditions to Initial Borrowing” in Exhibit B hereto. 

	 	2.	Titles and Roles. 

 It is agreed that (i) each of JPMCB and WF Securities will act
as a lead arranger and bookrunner for the Incremental Term Facility (collectively with any other arrangers appointed pursuant to this Section 2, the “Lead Arrangers”); provided that JPMCB may provide any of its services
as lead arranger and bookrunner through its affiliate J.P. Morgan Securities LLC and (ii) JPMCB will act as administrative agent and collateral agent (in such capacity, the “Senior Administrative Agent”)
for the Incremental Term Facility. It is further agreed that in any Information Materials (as defined below) and all other offering or marketing materials in respect of the Incremental Term Facility, JPMCB shall have “left side”
designation and shall appear on the top left and shall hold the leading role and responsibility customarily associated with such “top left” placement and WF Securities shall appear immediately to the right of JPMCB. You agree that no other
agents, co-agents, arrangers or bookrunners will be appointed, no other titles will be awarded and no compensation (other than compensation expressly contemplated by this Commitment Letter and the Fee Letter
referred to below) will be paid to any Lender (as defined below) in order to obtain its commitment to participate in the Incremental Term Facility unless you and we shall so agree; provided that (i) within fifteen (15) business days
following the date hereof, you may (A) appoint up to two (2) additional joint lead arrangers for the Incremental Term Facility and award such joint lead arrangers additional agent, co-agent or
bookrunner titles in a manner and with economics determined by you in consultation with JPMCB and WF Securities and (B) award additional agent or co-agent (but not bookrunner) titles in a manner and with
economics determined by you (it being understood that, to the extent you appoint additional agents, co-agents or bookrunners or confer other titles in respect of the Incremental Term Facility, the commitments
of JPMCB and Wells Fargo in respect of the Incremental Term Facility will be reduced by the amount of the commitments of such appointed entities (or their relevant affiliates) and the economics awarded to such other arrangers shall be in proportion
to their commitments assumed in respect of the Incremental Term Facility), with such reduction allocated to reduce the commitments of the Initial Lenders at such time on a pro rata basis according to the respective amount of their commitments
(ii) the Lead Arrangers shall have not less than 85.0% of the total economics for the Incremental Term Facility on the Closing Date and shall have not less than the percentage of the total economics for the Incremental Facility awarded to any
other Initial Lender (and its affiliates) and (iii) upon the execution by any other lead arranger, agent, co-agent or bookrunner (and any relevant affiliate) of customary joinder documentation and a
customary “sell-down” letter with JPMCB and Wells Fargo, each such financial institution (and any relevant affiliate) shall thereafter constitute a “Commitment Party” and, other than with respect to clause (ii) above, a
“Lead Arranger” hereunder and it or its relevant affiliate providing such commitment shall constitute an “Initial Lender” hereunder). 
  

	 	3.	Syndication. 

 The Lead Arrangers reserve the right, prior to or after the Closing Date
(as defined below), to syndicate all or a portion of the Initial Lenders’ respective commitments hereunder to a group of banks, financial institutions and other institutional lenders and investors (together with the Initial Lenders, the
“Lenders”) identified by the Lead Arrangers in consultation with you and reasonably acceptable to the Lead Arrangers and you (your consent not to be unreasonably withheld or delayed), and
you agree to use commercially reasonable efforts to provide the Initial Lenders with a period of 15 consecutive business days (provided that such period shall end on or prior to August 18, 2017 and July 3, 2017 shall not be included
as a “business day” for such purpose) (such period, the “Marketing Period”) following the receipt of the Information Memorandum (as defined below) prior to the Closing Date to syndicate the Incremental Term
Facility; provided that (a) we agree not to syndicate our commitments to Disqualified Lenders (as defined in the Existing Credit Agreement) and (b) notwithstanding the Lead Arrangers’ right to syndicate the Incremental
Term Facility and receive commitments with respect thereto, (i) no Initial Lender shall be relieved, released or novated from its obligations hereunder (including, subject to the satisfaction of the conditions set forth herein, its obligation
to fund the Incremental Term Facility on the date of the consummation of the Acquisition with the proceeds of the initial funding under the Incremental Term Facility (the date of such funding, the “Closing Date”))
in connection with any syndication, assignment or participation of the Incremental Term Facility, including its commitments in respect thereof, until after the Closing Date has occurred, (ii) except as expressly provided in Section 2,
no assignment or novation by any Initial Lender shall become effective as between you and the Initial Lenders with respect to all or any portion of any Initial Lender’s commitments in respect of the Incremental Term Facility until the initial
funding of the Incremental Term Facility and (iii) unless you otherwise agree in writing, each Initial Lender shall retain exclusive control over all rights and obligations with respect to its commitments in respect of the Incremental Term
Facility, including all rights with respect to consents, modifications, supplements, waivers and amendments, until after the Closing Date has occurred. 

  
 -2- 

 Without limiting your obligations to assist with syndication efforts as set forth herein, it is
understood that the Initial Lenders’ commitments hereunder are not conditioned upon the syndication of, or receipt of commitments in respect of, the Incremental Term Facility and in no event shall the commencement or successful completion of
syndication of the Incremental Term Facility constitute a condition to the availability of the Incremental Term Facility on the Closing Date. The Lead Arrangers may commence syndication efforts promptly upon the execution of this Commitment Letter
and as part of their syndication efforts, it is their intent to have Lenders commit to the Incremental Term Facility prior to the Closing Date (subject to the limitations set forth in the preceding paragraph). Until the earlier of Successful
Syndication (as defined in the Fee Letter) and the 60th day after the Closing Date (such earlier date, the “Syndication Date”), you agree to actively assist the Lead Arrangers
in seeking to complete a timely syndication that is reasonably satisfactory to us and you. Such assistance shall include, without limitation, (a) your using commercially reasonable efforts to ensure that any syndication efforts benefit
materially from your existing lending and investment banking relationships and, to the extent practical and appropriate (and not in contravention of the Acquisition Agreement (as defined in Exhibit A hereto)), the Target’s existing lending and
investment banking relationships, (b) direct contact between senior management, certain representatives and certain advisors of you, on the one hand, and the proposed Lenders, on the other hand (and, to the extent practical and appropriate and
not in contravention of the Acquisition Agreement, your using commercially reasonable efforts to ensure such contact between senior management of the Target, on the one hand, and the proposed Lenders, on the other hand), in all such cases at times
mutually agreed upon, (c) your assistance (including the use of commercially reasonable efforts to cause the Target to assist to the extent practical and appropriate and not in contravention of the Acquisition Agreement) in the preparation of
the Information Materials (as defined below), (d) using your commercially reasonable efforts to procure, at your expense, prior to the commencement of the Marketing Period, ratings for the Incremental Term Facility from each of Standard &
Poor’s Ratings Services (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”), and an updated public corporate credit rating and public corporate
family rating in respect of the Parent Borrower after giving effect to the Transactions from each of S&P and Moody’s, respectively, (e) the hosting, with the Lead Arrangers, of a reasonable number of meetings to be mutually agreed upon
of prospective Lenders at times and locations to be mutually agreed upon (and your using commercially reasonable efforts to cause the officers of the Target to be available for such meetings to the extent practical and appropriate and not in
contravention of the Acquisition Agreement), (f) your using commercially reasonable efforts to provide prior to the commencement of the Marketing Period (i) customary pro forma financial statements of the Parent Borrower after giving effect to
the Transactions (but excluding the impacts of any purchase accounting adjustments) and (ii) customary forecasts of financial statements of the Companies for each quarter for the first twenty four months following the Closing Date and for each
year commencing with the first fiscal year following the Closing Date for the term of the Incremental Term Facility (collectively, the “Projections”) and (g) at any time prior to the Syndication Date, there being
no competing issues, offerings, placements or arrangements of debt securities or commercial bank or other credit facilities by or on behalf of any of the Companies being offered, placed or arranged (other than any indebtedness of Target or any of
its subsidiaries permitted to be incurred pursuant to the Acquisition Agreement and indebtedness of the Borrowers and their subsidiaries under the revolving portion of the Existing Credit Agreement or otherwise in the ordinary course of business
consistent with past practice) without the consent of the Lead Arrangers, if such issuance, offering, placement or arrangement would materially impair the primary syndication of the Incremental Term Facility and you not entering into any amendment
to the Existing Credit Agreement that would be materially adverse to the Commitment Parties. Notwithstanding anything to the contrary contained in this Commitment Letter or the Fee Letter or any other letter agreement or undertaking concerning the
financing of the Transactions to the contrary, your obligations to assist in syndication efforts as provided herein (including the obtaining of the ratings referenced above) shall not constitute a condition to the commitments hereunder or the
funding of the Incremental Term Facility on the Closing Date. 

  
 -3- 

 The Lead Arrangers, in their capacities as such, will manage, in consultation with you, all
aspects of any syndication of the Incremental Term Facility, including decisions as to the selection of institutions reasonably acceptable to you (your consent not to be unreasonably withheld or delayed) to be approached and when they will be
approached, when their commitments will be accepted, which institutions will participate (subject to your consent rights set forth in the second preceding paragraph and excluding Disqualified Lenders), the allocation of the commitments among the
Lenders and the amount and distribution of fees among the Lenders. For the avoidance of doubt, you will not be required to provide any information to the extent that the provision thereof would violate any law, rule or regulation, or any obligation
of confidentiality binding on you, the Target or your or their respective affiliates. 
 You hereby acknowledge that (a) the Lead
Arrangers will make available Information (as defined below), Projections and other offering and marketing material and presentations, including confidential information memoranda to be used in connection with the syndication of the Incremental Term
Facility in a form customarily delivered in connection with senior secured bank financings (which shall be limited to a presentation customarily used for incremental term loan financings for acquisitions of this type unless additional information is
determined by the Lead Arrangers without your consent (but after consultation with you) to be reasonably necessary to ensure a Successful Syndication occurs) (the “Information Memorandum”) (such Information,
Projections, other offering and marketing material and the Information Memorandum, collectively, with the Senior Term Sheet, the “Information Materials”) on a confidential basis to the proposed syndicate of Lenders by
posting the Information Materials on Intralinks, Debt X, SyndTrak Online or by similar electronic means and (b) certain of the Lenders may be “public side” Lenders (i.e. Lenders that do not wish to receive material non-public information (“MNPI”) with respect to you, your affiliates, the Companies or your or their respective securities and who may be engaged in investment and other market related
activities with respect to you, the Companies or your or their respective securities) (each, a “Public Sider” and each Lender that is not a Public Sider, a “Private Sider”). You will
be solely responsible for the contents of the Information Materials and each of the Commitment Parties shall be entitled to use and rely upon the information contained therein without responsibility for independent verification thereof. 

At the request of the Lead Arrangers, you agree to assist (and to use commercially reasonable efforts to cause the Target to assist to the
extent practical and appropriate and not in contravention of the Acquisition Agreement) us in preparing an additional version of the Information Materials to be used in connection with the syndication of the Incremental Term Facility that consists
exclusively of information that is publicly available and/or does not include MNPI with respect to you, the Companies or any of your or their respective subsidiaries for the purpose of United States federal and state securities laws to be used by
Public Siders. It is understood that in connection with your assistance described above, customary authorization letters will be included in any Information Materials that authorize the distribution thereof to prospective Lenders, represent that the
additional version of the Information Materials does not include any MNPI and exculpate you, the Investors (as defined in the Existing Credit Agreement), the Companies and us with respect to any liability related to the use of the contents of the
Information Materials or related offering and marketing materials by the recipients thereof. Before distribution of any Information Materials, you agree to use commercially reasonable efforts to identify that portion of the Information Materials
that may be distributed to the Public Siders as “Public Information,” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof. By marking Information Materials as
“PUBLIC,” you shall be deemed to have authorized the Commitment Parties and the proposed Lenders to treat such Information Materials as not containing any MNPI (it being understood that you shall not be under any obligation to mark the
Information Materials “PUBLIC”). 

  
 -4- 

 You acknowledge and agree that the following documents, without limitation, may be distributed to
both Private Siders and Public Siders, unless you advise the Lead Arrangers in writing (including by email) within a reasonable time prior to their intended distribution that such materials should only be distributed to Private Siders:
(a) administrative materials prepared by the Lead Arrangers for prospective Lenders (such as a lender meeting invitation, bank allocation, if any, and funding and closing memoranda), (b) term sheets and notification of changes in the
Incremental Term Facility’ terms and conditions, (c) drafts and final versions of the Incremental Term Facility Documentation and (d) publicly filed financial statements of the Companies and their respective subsidiaries. If you
advise us in writing (including by email), within a reasonable period of time prior to dissemination, that any of the foregoing should be distributed only to Private Siders, then Public Siders will not receive such materials without your consent.

  

	 	4.	Information. 

 You hereby represent and warrant that (with respect to Information and
Projections relating to the Target and its subsidiaries, to your knowledge) (a) all material written information and written data, other than the Projections and other than information of a general economic or industry specific nature (the
“Information”), that has been or will be made available to any Commitment Party by you or, at your direction, by any of your representatives on your behalf in connection with the transactions contemplated hereby, when
taken as a whole, is or will be, when furnished, correct in all material respects and does not or will not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements
contained therein not materially misleading in light of the circumstances under which such statements are made (giving effect to all supplements and updates thereto) and (b) the Projections contained in the Information Memorandum will be
prepared in good faith based upon assumptions that are believed by you to be reasonable at the time such Projections are so furnished; it being understood that the Projections are as to future events and are not to be viewed as facts, the
Projections are subject to significant uncertainties and contingencies, many of which are beyond your control, that no assurance can be given that any particular Projections will be realized and that actual results during the period or periods
covered by any such Projections may differ significantly from the projected results and such differences may be material. You agree that, if at any time prior to the Syndication Date, you become aware that any of the representations and warranties
in the preceding sentence would be incorrect in any material respect if the Information and the Projections contained in the Information Memorandum were being furnished, and such representations were being made, at such time, then you will (or,
prior to the Closing Date, with respect to the Information and such Projections relating to the Target, will use commercially reasonable efforts to) promptly supplement the Information and such Projections such that (with respect to Information and
Projections relating to Target and its subsidiaries, to your knowledge) such representations and warranties are correct in all material respects under those circumstances. In arranging and syndicating the Incremental Term Facility, each of the
Commitment Parties will be entitled to use and rely primarily on the Information and the Projections contained in the Information Memorandum without responsibility for independent verification thereof. 

 

	 	5.	Fees. 

 As consideration for the commitments of the Initial Lenders hereunder and for
the agreement of the Lead Arrangers to perform the services described herein, you agree to pay (or cause to be paid) the fees set forth in the Senior Term Sheet and in the Fee Letter. Once paid, such fees shall not be refundable except as otherwise
agreed in writing. 

  
 -5- 

	 	6.	Conditions. 

 The commitments of the Initial Lenders hereunder to fund the Incremental
Term Facility on the Closing Date and the agreements of the Lead Arrangers to perform the services described herein are subject solely to the conditions set forth in the section entitled “Conditions to Initial Borrowing” in Exhibit B
hereto, and upon satisfaction (or waiver by all Commitment Parties) of such conditions, the initial funding of the Incremental Term Facility shall occur. 

Notwithstanding anything in this Commitment Letter (including each of the exhibits attached hereto), the Fee Letter, the Incremental Term
Facility Documentation or any other letter agreement or other undertaking concerning the financing of the Transactions to the contrary, (i) the only representations relating to you, the Borrowers, the Guarantors (as defined in the Existing
Credit Agreement), the Companies, your and their respective subsidiaries and your and their respective businesses the accuracy of which shall be a condition to the availability and funding of the Incremental Term Facility on the Closing Date shall
be (A) such of the representations made by the Target in the Acquisition Agreement as are material to the interests of the Lenders, but only to the extent that you or your affiliates have the right to terminate your or their obligations under
the Acquisition Agreement or to decline to consummate the Acquisition as a result of a breach of such representations in the Acquisition Agreement (to such extent, the “Specified Acquisition Agreement Representations”)
and (B) the Specified Representations (as defined in the Existing Credit Agreement but with modifications to the representation in (i) Section 5.15 of the Existing Credit Agreement, so that such representation and warranty is also
made on the Closing Date immediately after giving effect to the Transactions and (ii) Section 5.18 of the Existing Credit Agreement so that such representation and warranty also refers to the use or proceeds of the Incremental Term
Facility on the Closing Date) and (ii) the terms of the Incremental Term Facility Documentation shall be in a form such that they do not impair the availability or funding of the Incremental Term Facility on the Closing Date if the conditions
set forth in the section entitled “Conditions to Initial Borrowing” in Exhibit B hereto are satisfied (it being understood that to the extent any security interest in any Collateral (as defined in the Existing Credit Agreement) of, or
relating to, the Target and its subsidiaries that are required to become Loan Parties (as defined in the Existing Credit Agreement) pursuant to the terms hereof or of the Incremental Term Facility Documentation (the “Acquired Loan
Parties”) is not or cannot be provided and/or perfected on the Closing Date (other than the pledge and perfection of the security interest in the equity interests of Target and each of its direct wholly-owned U.S. and Canadian
subsidiaries (in the case of the Target’s subsidiaries, solely to the extent received by you, so long as you have used commercially reasonable efforts to obtain such equity interests) and other assets pursuant to which a lien may be perfected
by the filing of a financing statement under the Uniform Commercial Code or PPSA registration) after your use of commercially reasonable efforts to do so or without undue burden or expense, then the provision and/or perfection of a security interest
in such Collateral shall not constitute a condition precedent to the availability of the Incremental Term Facility on the Closing Date, but instead shall be required to be delivered after the Closing Date pursuant to arrangements and timing to be
mutually agreed by the Senior Administrative Agent and the Borrowers acting reasonably). This paragraph, and the provisions herein, shall be referred to as the “Certain Funds Provisions.” 

For the avoidance of doubt, compliance by you and/or your affiliates with the terms and conditions of this Commitment Letter (other than the
conditions set forth in the section entitled “Conditions to Initial Borrowing” in Exhibit B hereto) is not a condition to the Initial Lenders’ commitments to fund the Incremental Term Facility hereunder on the terms set forth herein.

  
 -6- 

	 	7.	Indemnity. 

 To induce the Commitment Parties to enter into this Commitment Letter and
the Fee Letter and to proceed with the documentation of the Incremental Term Facility, you agree (a) to indemnify and hold harmless each Commitment Party, their respective affiliates and the respective officers, directors, employees, agents,
advisors and other representatives of each of the foregoing (each, an “Indemnified Person”), from and against any and all losses, claims, damages and liabilities of any kind or nature and reasonable and documented or
invoiced out-of-pocket fees and expenses, joint or several, to which any such Indemnified Person may become subject to the extent arising out of, resulting from or in
connection with, this Commitment Letter (including the Senior Term Sheet), the Fee Letter, the Transactions or any related transaction contemplated hereby, the Incremental Term Facility or any use of the proceeds thereof or any claim, litigation,
investigation or proceeding (including any inquiry or investigation) relating to any of the foregoing (any of the foregoing, a “Proceeding”), regardless of whether any such Indemnified Person is a party thereto,
whether or not such Proceedings are brought by you, your equity holders, affiliates, creditors or any other third person, and to reimburse each such Indemnified Person upon demand for any reasonable and documented or invoiced out-of-pocket legal expenses of one firm of counsel for all such Indemnified Persons, taken as a whole and, if necessary, of a single local counsel in each appropriate
jurisdiction (which may include a single special counsel acting in multiple jurisdictions) for all such Indemnified Persons, taken as a whole, and, solely in the case of a conflict of interest, one additional counsel in each appropriate jurisdiction
to the affected Indemnified Persons) or other reasonable and documented or invoiced out-of-pocket fees and expenses incurred in connection with investigating or
defending any of the foregoing, in all cases, whether or not caused by or arising, in whole or in part, out of the negligence of the Indemnified Person; provided that the foregoing indemnity will not, as to any Indemnified Person, apply to
losses, claims, damages, liabilities or related expenses to the extent that they have resulted from (i) the willful misconduct, bad faith or gross negligence of such Indemnified Person or any of such Indemnified Person’s controlled
affiliates or any of its or their respective officers, directors, employees, agents, advisors or other representatives, in each case who are involved in or aware of the Transactions (as determined by a court of competent jurisdiction in a final and non-appealable decision), (ii) a material breach of the obligations of such Indemnified Person or any of such Indemnified Person’s affiliates under this Commitment Letter, the Senior Term Sheet, the Fee Letter
or the Incremental Term Facility Documentation as determined by a court of competent jurisdiction in a final and non-appealable decision, or (iii) disputes between and among Indemnified Persons to the
extent such disputes do not arise from any act or omission of you or any of your affiliates (other than claims against an Indemnified Person acting in its capacity as an agent or arranger or similar role under the Incremental Term Facility unless
such claims arise from the gross negligence, bad faith or willful misconduct of such Indemnified Person as determined by a court of competent jurisdiction in a final and non-appealable decision) and
(b) to the extent that the Closing Date occurs, to reimburse each Commitment Party from time to time, upon presentation of a summary statement, for all reasonable and documented or invoiced out-of-pocket expenses (including but not limited to expenses of each Commitment Party’s consultants’ fees (to the extent any such consultant has been retained with your prior written consent (such
consent not to be unreasonably withheld or delayed)), syndication expenses, travel expenses and reasonable fees, disbursements and other charges of a single counsel to the Commitment Parties identified in the Senior Term Sheet and of a single local
counsel to the Commitment Parties in each appropriate jurisdiction (which may include a single special counsel acting in multiple jurisdictions) and of such other counsel retained with your prior written consent (such consent not to be unreasonably
withheld or delayed)), in each case incurred in connection with the Incremental Term Facility and the preparation, negotiation and enforcement of this Commitment Letter, the Fee Letter, the Incremental Term Facility Documentation and any security
arrangements in connection therewith (collectively, the “Expenses”). The foregoing provisions in this paragraph shall be superseded in each case, to the extent covered thereby, by the applicable provisions contained in the
Incremental Term Facility Documentation upon execution thereof and thereafter shall have no further force and effect. 

  
 -7- 

 Notwithstanding any other provision of this Commitment Letter, (i) no Indemnified Person
shall be liable for any damages arising from the use by others of information or other, materials obtained through internet, electronic, telecommunications or other information transmission systems, except to the extent that such damages have
resulted from the willful misconduct or gross negligence of such Indemnified Person or any of such Indemnified Person’s controlled affiliates or any of its or their respective officers, directors, employees, agents, advisors or other
representatives, in each case who are involved in or aware of the Transactions as determined by a final, non-appealable judgment of a court of competent jurisdiction and (ii) without in any way limiting
the indemnification obligations set forth above, none of us, you, any of the Companies or any Indemnified Person shall be liable for any indirect, special, punitive or consequential damages (including, without limitation, any loss of profits,
business or anticipated savings) in connection with this Commitment Letter, the Fee Letter, the Transactions (including the Incremental Term Facility and the use of proceeds thereunder), or with respect to any activities related to the Incremental
Term Facility, including the preparation of this Commitment Letter, the Fee Letter and the Incremental Term Facility Documentation. 
 You
shall not be liable for any settlement of any Proceeding effected without your written consent (which consent shall not be unreasonably withheld or delayed), but if settled with your written consent or if there is a final and non-appealable judgment by a court of competent jurisdiction for the plaintiff in any such Proceeding, you agree to indemnify and hold harmless each Indemnified Person from and against any and all losses, claims,
damages, liabilities and expenses by reason of such settlement or judgment in accordance with the other provisions of this Section 7. 

You shall not, without the prior written consent of any Indemnified Person (which consent shall not be unreasonably withheld or delayed),
effect any settlement of any pending or threatened proceedings in respect of which indemnity could have been sought hereunder by such Indemnified Person unless such settlement (i) includes an unconditional release of such Indemnified Person in
form and substance reasonably satisfactory to such Indemnified Person from all liability or claims that are the subject matter of such proceedings and (ii) does not include any statement as to or any admission of fault, culpability, wrong-doing
or a failure to act by or on behalf of any Indemnified Person. 
  

	 	8.	Sharing of Information, Absence of Fiduciary Relationships, Affiliate Activities. 

 You
acknowledge that the Commitment Parties and their affiliates may be providing debt financing, equity capital or other services (including, without limitation, financial advisory services) to other persons in respect of which you, the Companies and
your and their respective affiliates may have conflicting interests regarding the transactions described herein and otherwise. None of the Commitment Parties or their affiliates will use confidential information obtained from you by virtue of the
transactions contemplated by this Commitment Letter or their other relationships with you in connection with the performance by them or their affiliates of services for other persons, and none of the Commitment Parties or their affiliates will
furnish any such information to other persons, except to the extent permitted below. You also acknowledge that none of the Commitment Parties or their affiliates has any obligation to use in connection with the transactions contemplated by this
Commitment Letter, or to furnish to you, confidential information obtained by them from other persons. 
 As you know, certain of the
Commitment Parties may be full service securities firms engaged, either directly or through their affiliates, in various activities, including securities trading, commodities trading, investment management, financing and brokerage activities and
financial planning and benefits counseling for both companies and individuals. In the ordinary course of these activities, certain of the Commitment Parties and their respective affiliates may actively engage in commodities trading or trade the debt
and equity securities (or related derivative securities) and financial instruments (including bank loans and other obligations) of you, the Companies and other companies which may be the subject of the arrangements contemplated by this letter for
their own account and for the accounts of their customers and may at any time hold long and short positions in such securities. Certain of the Commitment Parties or their affiliates may also co-invest with,
make direct investments in, and invest or co-invest client monies in or with funds or other investment vehicles managed by other parties, and such funds or other investment vehicles may trade or make
investments in securities of you, the Companies or other companies which may be the subject of the arrangements contemplated by this Commitment Letter or engage in commodities trading with any thereof. 

  
 -8- 

 The Commitment Parties and their respective affiliates may have economic interests that conflict
with those of you or the Companies. You agree that the Commitment Parties will act under this letter as independent contractors and that nothing in this Commitment Letter or the Fee Letter will be deemed to create an advisory, fiduciary or agency
relationship or fiduciary or other implied duty between the Commitment Parties and you, the Companies, your and their respective equity holders or your and their respective affiliates. You acknowledge and agree that (i) the transactions
contemplated by this Commitment Letter and the Fee Letter are arm’s-length commercial transactions between the Commitment Parties and, if applicable, their affiliates, on the one hand, and you, on the
other, (ii) in connection therewith and with the process leading to such transaction each Commitment Party and its applicable affiliates (as the case may be) is acting solely as a principal and not as agents or fiduciaries of you, the
Companies, your and their respective management, equity holders, creditors, affiliates or any other person, (iii) the Commitment Parties and their applicable affiliates (as the case may be) have not assumed an advisory or fiduciary
responsibility or any other obligation in favor of you or your affiliates with respect to the transactions contemplated hereby or the process leading thereto (irrespective of whether the Commitment Parties or any of their respective affiliates have
advised or are currently advising you or the Companies on other matters) except the obligations expressly set forth in this Commitment Letter and the Fee Letter and (iv) you have consulted your own legal and financial advisors to the extent you
deemed appropriate. You further acknowledge and agree that you are responsible for making your own independent judgment with respect to such transactions and the process leading thereto. Please note that the Commitment Parties are not providing any
tax, accounting or legal advice in any jurisdiction. You agree that you will not claim that the Commitment Parties or their applicable affiliates, as the case may be, have rendered advisory services of any nature or respect, or owe a fiduciary or
similar duty to you or your affiliates, in connection with such transaction or the process leading thereto. 
  

	 	9.	Confidentiality. 

 You agree that you will not disclose, directly or indirectly, the Fee
Letter and the contents thereof or this Commitment Letter, the Senior Term Sheet, the other exhibits and attachments hereto and the contents of each thereof, or the activities of any Commitment Party pursuant hereto or thereto, to any person or
entity without prior written approval of the Lead Arrangers (such approval not to be unreasonably withheld or delayed), except (a) to the Investors, and to your and any of the Investors’ officers, directors, agents, employees, attorneys,
accountants, advisors, controlling persons or equity holders on a confidential and need-to-know basis, (b) if the Commitment Parties consent in writing to such
proposed disclosure or (c) pursuant to the order of any court or administrative agency in any pending legal, judicial or administrative proceeding, or otherwise as required by applicable law or compulsory legal process or to the extent
requested or required by governmental and/or regulatory authorities, in each case based on the reasonable advice of your legal counsel (in which case you agree, to the extent practicable and not prohibited by applicable law, to inform us promptly
thereof prior to disclosure); provided that (i) [reserved], (ii) you may disclose the Commitment Letter and its contents (but not the Fee Letter) in any syndication or other marketing materials in connection with the Incremental Term Facility
or in connection with any required public filing relating to the Transactions, (iii) you may disclose the Senior Term Sheet and the contents thereof, to potential Lenders and to rating agencies in connection with obtaining ratings for the
Borrowers and the Incremental Term Facility, (iv) you may disclose the aggregate fee amount contained in the Fee Letter as part of generic disclosure in Projections, pro forma information or aggregate sources and uses related to fee amounts
related to the Transactions to the extent customary or required in offering and marketing materials for the Incremental Term Facility or in any required public filing relating to the Transactions and (v) [reserved]. 

  
 -9- 

 The Commitment Parties will use all confidential information provided to them by or on behalf of
you hereunder or in connection with the Acquisition and the related Transactions solely for the purpose of providing the services which are the subject of this Commitment Letter and shall treat confidentially all such information and shall not
publish, disclose or otherwise divulge, such information; provided that nothing herein shall prevent any Commitment Party from disclosing any such information (a) pursuant to the order of any court or administrative agency or in any
pending legal, judicial or administrative proceeding, or otherwise as required by applicable law or compulsory legal process based on the advice of counsel (in which case the Commitment Parties agree (except with respect to any audit or examination
conducted by bank accountants or any regulatory authority exercising examination or regulatory authority), to the extent practicable and not prohibited by applicable law, to inform you promptly thereof prior to disclosure), (b) upon the request or
demand of any regulatory authority having jurisdiction over the Commitment Parties or any of their respective affiliates (in which case the Commitment Parties agree (except with respect to any audit or examination conducted by bank accountants or
any regulatory authority exercising examination or regulatory authority), to the extent practicable and not prohibited by applicable law, to inform you promptly thereof prior to disclosure), (c) to the extent that such information becomes publicly
available other than by reason of improper disclosure by such Commitment Party or any of its affiliates or any related parties thereto in violation of any confidentiality obligations owing to you, the Companies or any of your or their respective
affiliates (including those set forth in this paragraph), (d) to the extent that such information is received by such Commitment Party from a third party that is not, to such Commitment Party’s knowledge, violating any contractual or fiduciary
confidentiality obligations owing to you, the Companies or any of your or their respective affiliates or related parties, (e) to the extent that such information is independently developed by the Commitment Parties or any of their affiliates,
(f) to such Commitment Party’s affiliates and to its and their respective directors, officers, employees, legal counsel, independent auditors, professionals and other experts or agents who need to know such information in connection with
the Transactions and who are informed of the confidential nature of such information and are or have been advised of their obligation to keep information of this type confidential, (g) (i) to potential or prospective Lenders, participants or
assignees and to any direct or indirect contractual counterparty to any swap or derivative transaction relating to you or any of your subsidiaries, in each case who agree to be bound by the terms of this paragraph (or language substantially similar
to this paragraph); provided that the disclosure of any such information to any Lenders or prospective Lenders or participants or prospective participants referred to above shall be made subject to the acknowledgment and acceptance by such
Lender or prospective Lender or participant or prospective participant that such information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as is otherwise reasonably acceptable to you and
each Commitment Party, including, without limitation, as agreed in any Information Materials or other marketing materials) in accordance with the standard syndication processes of such Commitment Party or customary market standards for dissemination
of such type of information or (ii) to lenders under the Existing Credit Agreement who are subject to the confidentiality provisions set forth in Section 10.08 of the Existing Credit Agreement, or (h) for purposes of enforcing its
rights hereunder and in the Fee Letter in any legal proceedings and for purposes of establishing a defense in any legal proceedings. The Commitment Parties’ and their affiliates’, if any, obligations under this paragraph shall terminate
automatically and be superseded by the confidentiality provisions in the definitive documentation relating to the Incremental Term Facility upon the initial funding thereunder. The provisions of this paragraph shall terminate on the second
anniversary of the date hereof. 

  
 -10- 

	 	10.	Miscellaneous. 

 This Commitment Letter and the commitments hereunder shall not be
assignable by any party hereto without the prior written consent of each other party hereto (such consent not to be unreasonably withheld or delayed) (and any attempted assignment without such consent shall be null and void). This Commitment Letter
and the commitments hereunder are intended to be solely for the benefit of the parties hereto (and Indemnified Persons) and are not intended to confer any benefits upon, or create any rights in favor of, any person other than the parties hereto (and
Indemnified Persons to the extent expressly set forth herein). Subject to the limitations set forth in Section 3 above, the Commitment Parties reserve the right to employ the services of their affiliates or branches in providing services
contemplated hereby and to allocate, in whole or in part, to their affiliates or branches certain fees payable to the Commitment Parties in such manner as the Commitment Parties and their affiliates or branches may agree in their sole discretion
and, to the extent so employed, such affiliates and branches shall be entitled to the benefits and protections afforded to, and subject to the provisions governing the conduct of, the Commitment Parties hereunder. This Commitment Letter may not be
amended or any provision hereof waived or modified except by an instrument in writing signed by each of the Commitment Parties and you. This Commitment Letter may be executed in any number of counterparts, each of which shall be deemed an original
and all of which, when taken together, shall constitute one agreement. Delivery of an executed counterpart of a signature page of this Commitment Letter by facsimile transmission or other electronic transmission (i.e., a “pdf” or
“tif”) shall be effective as delivery of a manually executed counterpart hereof. This Commitment Letter (including the exhibits hereto), together with the Fee Letter dated the date hereof, supersede all prior understandings, whether
written or oral, among us with respect to the Incremental Term Facility and sets forth the entire understanding of the parties hereto with respect thereto. THIS COMMITMENT LETTER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF
THE STATE OF NEW YORK; PROVIDED, HOWEVER, THAT (A) THE INTERPRETATION OF THE DEFINITION OF “MATERIAL ADVERSE EFFECT” (AND WHETHER OR NOT A MATERIAL ADVERSE EFFECT HAS OCCURRED), (B) THE DETERMINATION OF THE
ACCURACY OF ANY SPECIFIED ACQUISITION AGREEMENT REPRESENTATION AND WHETHER AS A RESULT OF ANY INACCURACY THEREOF YOU AND ANY OF YOUR AFFILIATES HAVE THE RIGHT TO TERMINATE YOUR AND ITS OBLIGATIONS THEREUNDER AND (C) THE DETERMINATION OF WHETHER
THE ACQUISITION HAS BEEN CONSUMMATED IN ACCORDANCE WITH THE TERMS OF THE ACQUISITION AGREEMENT SHALL, IN EACH CASE, BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE GOVERNING LAW OF THE ACQUISITION AGREEMENT AS IN EFFECT ON THE DATE HEREOF.

 Each of the parties hereto agrees that (i) this Commitment Letter is a binding and enforceable agreement with respect to the subject
matter contained herein, notwithstanding that the availability and funding of the Incremental Term Facility is subject to conditions precedent, including the good faith negotiation of the Incremental Term Facility Documentation by the parties hereto
in a manner consistent with this Commitment Letter and (ii) the Fee Letter is a legally valid and binding agreement of the parties thereto with respect to the subject matter set forth therein. 

EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY OR ON
BEHALF OF ANY PARTY RELATED TO OR ARISING OUT OF THIS COMMITMENT LETTER OR THE FEE LETTER OR THE PERFORMANCE OF SERVICES HEREUNDER OR THEREUNDER. 

Each of the parties hereto hereby irrevocably and unconditionally (a) submits, for itself and its property, to the exclusive jurisdiction
of any New York State court or Federal court of the United States of America sitting in New York County, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Commitment Letter, the Fee Letter or
the transactions contemplated hereby or thereby, or for recognition or enforcement of any judgment, and agrees that all claims in respect of any such action or proceeding shall only be heard and determined in such New York State court or, to the
extent permitted by law, in such Federal court, (b) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or
relating to this Commitment Letter or the transactions contemplated hereby in any New York State or in any such Federal court, (c) waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court and (d) agrees that a final judgment in any such suit, action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.
Each of the parties hereto agrees that service of process, summons, notice or document by registered mail addressed to you or us at the addresses set forth above shall be effective service of process for any suit, action or proceeding brought in any
such court. 

  
 -11- 

 The Parent Borrower hereby appoints Burger King Corporation, 5505 Blue Lagoon Drive, Miami,
Florida 33126 as its authorized agent (the “Authorized Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon this Commitment Letter, the Fee Letter or the transactions
contemplated hereby or thereby which may be instituted in any New York State court or Federal court of the United States of America sitting in New York County. Service of process upon the Authorized Agent shall be deemed, in every respect, effective
service of process upon the Parent Borrower. 
 We hereby notify you that pursuant to the requirements of the USA PATRIOT Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001) (the “PATRIOT Act”), each of us and each of the Lenders may be required to obtain, verify and record information that
identifies the Borrowers and the Guarantors, which information may include their names, addresses, tax identification numbers and other information that will allow each of us and the Lenders to identify the Borrowers and the Guarantors in accordance
with the PATRIOT Act. This notice is given in accordance with the requirements of the PATRIOT Act and is effective for each of us and the Lenders. 

The indemnification, compensation (if applicable), reimbursement (if applicable), jurisdiction, governing law, venue, waiver of jury trial,
syndication and confidentiality provisions contained herein and in the Fee Letter shall remain in full force and effect regardless of whether the Incremental Term Facility Documentation shall be executed and delivered and notwithstanding the
termination or expiration of this Commitment Letter or the Initial Lenders’ commitments hereunder; provided that your obligations under this Commitment Letter (other than your obligations with respect to (a) assistance to be
provided in connection with the syndication thereof (including supplementing and/or correcting Information and Projections) prior to the Syndication Date and (b) confidentiality) shall automatically terminate and be superseded by the provisions
of the Incremental Term Facility Documentation upon the initial funding thereunder, and you shall automatically be released from all liability in connection therewith at such time. You may terminate this Commitment Letter and/or the Initial
Lenders’ commitments with respect to the Incremental Term Facility (or portion thereof) hereunder at any time subject to the provisions of the preceding sentence. 

Section headings used herein are for convenience of reference only and are not to affect the construction of, or to be taken into
consideration in interpreting, this Commitment Letter. 

  
 -12- 

 If the foregoing correctly sets forth our agreement, please indicate your acceptance of the terms
of this Commitment Letter and of the Fee Letter by returning to the Commitment Parties, executed counterparts hereof and of the Fee Letter not later than 11:59 p.m., New York City time, on February 21, 2017. The Initial Lenders’ respective
commitments and the obligations of the Lead Arrangers hereunder will expire at such time in the event that the Commitment Parties have not received such executed counterparts in accordance with the immediately preceding sentence. If you do so
execute and deliver to us this Commitment Letter and the Fee Letter, we agree to hold our commitment available for you until the earliest of (i) after execution of the Acquisition Agreement and prior to the consummation of the Transactions, the
termination of the Acquisition Agreement in accordance with its terms, (ii) the consummation of the Acquisition with or without the funding of the Incremental Term Facility and (iii) 11:59 p.m., New York City time, on that date that is five
business days after May 21, 2017 (or, if the Outside Date (as defined in the Acquisition Agreement) is extended to August 21, 2017 pursuant to Section 9.01(b)(i) of the Acquisition Agreement, August 21, 2017). Upon the occurrence of
any of the events referred to in the preceding sentence, this Commitment Letter and the commitments of each of the Commitment Parties hereunder and the agreement of the Lead Arrangers to provide the services described herein shall automatically
terminate unless the Commitment Parties shall, in their discretion, agree to an extension in writing. 
 [Remainder of this page
intentionally left blank] 

  
 -13- 

 We are pleased to have been given the opportunity to assist you in connection with the financing
for the Transactions. 
  

			
	Very truly yours,
	
	JPMORGAN CHASE BANK, N.A.
		
	By:	 	  

		 	Name:
		 	Title:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	  

		 	Name:
		 	Title:
	
	WELLS FARGO SECURITIES, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 [Signature Page to
Commitment Letter] 

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

 

			
	1011778 B.C. UNLIMITED LIABILITY COMPANY
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 [Signature Page to
Commitment Letter] 

 EXHIBIT A 

Project Skipper 

Transaction Description 

Capitalized terms used but not defined in this Exhibit A shall have the meanings set forth in the other Exhibits to the Commitment Letter to
which this Exhibit A is attached (the “Commitment Letter”) or in the Commitment Letter. In the case of any such capitalized term that is subject to multiple and differing definitions, the appropriate meaning thereof in
this Exhibit A shall be determined by reference to the context in which it is used. 
 The Parent intends to acquire (the
“Acquisition”), directly or indirectly, the entity previously identified to the Commitment Parties by you as “Skipper” (“Target”). 

In connection with the foregoing, it is intended that: 

(a) Pursuant to the Agreement and Plan of Merger, dated as of the date hereof (together with all exhibits, schedules, and
disclosure letters thereto, collectively, the “Acquisition Agreement”) entered into with the Target and the other parties thereto, Parent Borrower will indirectly acquire all of the issued and outstanding equity
interests of Target through a merger of a newly formed subsidiary of the Parent Borrower with and into the Target in accordance with the terms of the Acquisition Agreement (if applicable, following the consummation of a tender offer for all
outstanding common stock of the Target). 
 (b) The Borrowers will obtain a senior secured term facility denominated in U.S.
dollars (the “Incremental Term Facility”) in an aggregate principal amount of $1,300 million, which will be documented as “Incremental Term Loans” under and as defined in the Credit Agreement, dated as
of October 27, 2014, among the Borrowers, 1013421 B.C. Unlimited Liability Company, an unlimited liability company organized under the laws of British Columbia, JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and swing line
lender and each l/c issuer and lender from time to time party thereto (as amended by Amendment No. 1, dated as of May 22, 2015, and Amendment No. 2, dated as of February 17, 2017, the “Existing Credit
Agreement”). 
 (c) All outstanding debt of the Target under its or its subsidiaries’ Amended and Restated
Credit Agreement, dated as of January 22, 2016, will be repaid and the commitments thereunder terminated (the “Refinancing”). 

(d) The proceeds of the Incremental Term Facility on the Closing Date, together with cash on hand of the Companies, will be
applied (i) to pay the consideration in connection with the Acquisition, (ii) to pay the fees and expenses incurred in connection with the Transactions (such fees and expenses, the “Transaction Costs”) and
(iii) to pay for the Refinancing (the amounts set forth in clauses (i) through (iii) above, collectively, the “Acquisition Costs”). 

The transactions described above (including the payment of Transaction Costs) are collectively referred to herein as the
“Transactions.” 

  
 A-1 

 EXHIBIT B 

Project Skipper 

$1,300,000,000 Incremental Term Facility 

Summary of Principal Terms and Conditions1 

 

			
	Borrowers:	  	The Borrowers.
		
	Transactions:	  	As set forth in Exhibit A to the Commitment Letter.
		
	Administrative Agent and Collateral Agent:	  	JPMorgan Chase Bank, N.A. will act as sole administrative agent and sole collateral agent (in such capacities, the “Senior Administrative Agent”) for a syndicate of banks, financial institutions
and other entities reasonably acceptable to the Borrowers (excluding any Disqualified Lender) with respect to the Incremental Term Facility (as defined below) (together with the Initial Lenders, the “Lenders”),
and will perform the duties customarily associated with such roles.
		
	Lead Arrangers and Bookrunners:	  	JPMCB and Wells Fargo Securities, together with any other entities appointed pursuant to Section 2 of the Commitment Letter, will act as joint lead arrangers and joint bookrunners for the Incremental Term Facility
(collectively, the “Lead Arrangers”), and will perform the duties customarily associated with such roles.
		
	Incremental Term Facility:	  	A senior secured term loan facility denominated in dollars (the “Incremental Term Facility”) in an aggregate principal amount of $1,300 million plus, at the Borrowers’ election,
an amount sufficient to fund any OID or upfront fees required to be funded in connection with the “flex” provisions in the Fee Letter (the loans thereunder, the “Incremental Term Loans”). At the option
of the Borrowers, the Incremental Term Loans may take the form of an increase (the “Add-On Term Loans”) in the existing class of term loans under the Existing Credit
Agreement on the Closing Date (the “Existing Term Loans”) so long as such Add-On Term Loans” would be fungible with the Existing Term Loans for U.S. federal income
tax purposes.
		
	Purpose	  	The proceeds of borrowings under the Incremental Term Facility will be used by the Borrowers on the Closing Date, together with cash on hand at the Companies, to pay the Acquisition Costs.

  

	1 	All capitalized terms used but not defined herein shall have the meaning given them in the Commitment Letter to which this Senior Term Sheet is attached, including Exhibit A thereto. 

  
 B-1 

			
	Availability:	  	The Incremental Term Facility will be available in a single drawing on the Closing Date. Amounts borrowed under the Incremental Term Facility that are repaid or prepaid may not be reborrowed.
		
	Interest Rates and Fees:	  	As set forth on Annex I hereto.
		
	Default Rate:	  	Same as the Existing Credit Agreement.
		
	Final Maturity and Amortization:	  	Commencing on the first full fiscal quarter ended after the Closing Date, the Incremental Term Facility will amortize in equal quarterly installments in aggregate annual amounts equal to 1.0% of the original principal amount of
the Incremental Term Facility, with the balance payable on the maturity date thereof (provided that if the Incremental Term Facility is in the form of an add-on to the Existing Term Loans, each
amortization for the Existing Term Loans will be increased in the same proportion as the amount of the Existing Term Loans plus the amount of the Incremental Term Facility bears to the amount of the Existing Term Loans on the date of funding). The
Incremental Term Facility will mature on February 17, 2024.
		
	Guarantees:	  	Same as the Existing Credit Agreement and to include guarantees by the Acquired Loan Parties.
		
	Security:	  	Same as the Existing Credit Agreement and to include, subject to the Certain Funds Provision, Collateral of the Acquired Loan Parties.
		
	Mandatory Prepayments:	  	Same as applicable to the Existing Term Loans.
		
	Voluntary Prepayments and Reductions in Commitments:	  	Same as applicable to the Existing Term Loans (except as provided below).
		
	Repricing Premium:	  	If the Incremental Term Loans are not in the form of Add-On Term Loans, then prior to the six month anniversary of the Closing Date, in the event all or any portion of the Incremental Term
Loans are subject to a Repricing Transaction (as defined in the Existing Credit Agreement), the Borrowers shall be required to pay a premium equal to 1.00% of the Incremental Term Loans subject to such Repricing Transaction.
		
	Documentation:	  	The Incremental Term Facility will be documented as an “Incremental Term Loan” (under and as defined in the Existing Credit Agreement) under the Existing Credit Agreement, pursuant to pursuant to an amendment, amendment
and restatement or joinder to the Existing Credit Agreement to be entered into on the Closing Date (the “Incremental Term Amendment”), together with, subject to the Certain Funds Provision, joinders and other supplements to
existing guarantee and collateral documentation necessary to effect the joinder of the Acquired Loan Parties (the “Joinder Documentation”, such Joinder Documentation, together with the Incremental Term Amendment
and the Loan Documents (as defined in the Existing Credit Agreement), the “Incremental Term Facility Documentation”). Except as otherwise expressly set forth herein, the Incremental Term Facility
shall have the same terms as the Existing Term Loans.

  
 B-2 

			
	Representations and Warranties:	  	Same as the Existing Credit Agreement (except as noted in the Commitment Letter with respect to the Specified Representations).
		
	Conditions to Initial Borrowing:	  	The availability of the initial borrowing under the Incremental Term Facility on the Closing Date will be subject solely to (a) the conditions set forth in Exhibit C to the Commitment Letter, (b) delivery of a customary
borrowing notice and (c) the accuracy of representations and warranties in all material respects (subject to the Certain Funds Provisions).
		
	Affirmative Covenants:	  	Same as the Existing Credit Agreement.
		
	Negative Covenants:	  	Same as the Existing Credit Agreement.
		
	Financial Maintenance Covenant:	  	None.
		
	Unrestricted Subsidiaries:	  	Same as the Existing Credit Agreement.
		
	Events of Default:	  	Same as the Existing Credit Agreement.
		
	Voting:	  	Same as the Existing Credit Agreement.
		
	Cost and Yield Protection:	  	Same as the Existing Credit Agreement.
		
	Assignments and Participations:	  	Same as the Existing Credit Agreement.
		
	Expenses and Indemnification:	  	Same as the Existing Credit Agreement.
		
	Governing Law and Forum:	  	New York.
		
	Counsel to the Senior Administrative Agent, the Lead Arrangers and the Bookrunners:	  	Cahill Gordon & Reindel LLP.

  
 B-3 

 ANNEX I to 

EXHIBIT B 
  

			
	Interest Rates:	  	Initially, the interest rates under the Incremental Term Facility will be, at the option of the Borrowers, the Eurocurrency Rate (as defined in the Existing Credit Agreement) plus 2.25% or the Base Rate (as defined in the Existing
Credit Agreement) plus 1.25%.
		
		  	The Borrowers may elect interest periods of 1, 2, 3 or 6 months (or, if agreed by all relevant Lenders, 12 months) for Eurocurrency Rate borrowings.
		
		  	Calculation of interest shall be on the basis of the actual days elapsed in a year of 360 days (or 365 or 366 days, as the case may be, in the case of Base Rate loans where the applicable rate is determined pursuant to clause (1)(a)
of the definition of Base Rate).
		
		  	Interest shall be payable in arrears (a) for loans accruing interest at a rate based on the Eurocurrency Rate, at the end of each interest period and, for interest periods of greater than 3 months, every three months, and on
the applicable maturity date and (b) for loans accruing interest based on the Base Rate, quarterly in arrears and on the applicable maturity date.
		
		  	With respect to the Incremental Term Loans, there shall be a minimum Eurocurrency Rate of 1.00% per annum.

  
 Annex I to Exhibit B-1

 EXHIBIT C 

Project Skipper 
 Summary
of Additional Conditions2 
 The initial borrowings under the Incremental Term
Facility shall be subject to the following conditions: 
 1. The Acquisition shall have been consummated, or substantially simultaneously
with the initial borrowing under the Incremental Term Facility, shall be consummated, in all material respects in accordance with the terms of the Acquisition Agreement, without giving effect to any amendments, consents or waivers by you thereto
that are materially adverse to the Lenders or the Lead Arrangers, without the prior consent of the Lead Arrangers (such consent not to be unreasonably withheld, delayed or conditioned) (it being understood that (a) any reduction in the purchase
price of, or consideration for, the Acquisition is not material and adverse to the interests of the Lenders or the Lead Arrangers, but any reduction in the cash consideration in excess of 15% shall be applied to reduce the Incremental Term Facility
and (b) any amendment to the definition of “Material Adverse Effect” is materially adverse to the interests of the Lenders and the Lead Arrangers). 

2. The Refinancing shall have been consummated, or substantially simultaneously with the initial borrowing under the Incremental Term
Facility, shall be consummated. 
 3. Since December 28, 2015, there has not been any change, effect, event, occurrence or fact that
has had or would reasonably be expected to have a Material Adverse Effect (as defined in the Acquisition Agreement). 
 4. Subject in all
respects to the Certain Funds Provisions, all documents and instruments required to create and perfect the Senior Administrative Agent’s security interests in the Collateral of the Acquired Loan Parties shall have been executed and delivered
and, if applicable, be in proper form for filing. 
 5. The Senior Administrative Agent and the Lead Arrangers shall have received at least
2 business days prior to the Closing Date all documentation and other information about the Borrowers, the Guarantors and the Acquired Loan Parties as has been reasonably requested in writing at least 10 business days prior to the Closing Date by
the Senior Administrative Agent or the Lead Arrangers that they reasonably determine is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including without limitation
the PATRIOT Act. 
 6. Subject in all respects to the Certain Funds Provisions, the execution and delivery of (i) the Incremental Term
Facility Documentation, which shall be consistent with the Commitment Letter and Senior Term Sheet and (ii) customary legal opinions, customary evidence of authorization, customary officer’s certificates (or, in the case of
secretary’s certificates of the Loan Parties other than the Acquired Loan Parties, resolutions and certifications that the organizational documents of such Loan Parties previously delivered to the Administrative Agent have not been modified),
good standing certificates (to the extent applicable) in the jurisdiction of organization of the Borrowers, each Guarantor and the Acquired Loan Parties and a solvency certificate of the Parent Borrower’s chief financial officer or other
officer with equivalent duties in substantially the form of Annex I hereto. 
  

	2 	Capitalized terms used in this Exhibit C shall have the meanings set forth in the other Exhibits attached to the Commitment Letter to which this Exhibit C is attached (the “Commitment Letter”). In the
case of any such capitalized term that is subject to multiple and differing definitions, the appropriate meaning thereof in this Exhibit C shall be determined by reference to the context in which it is used. 

  
 C-1 

 7. The Lead Arrangers shall have received a pro forma consolidated balance sheet and related pro
forma consolidated statement of income of the Parent Borrower as of and for the twelve-month period ending on the last day of the most recently completed four-fiscal quarter period ended at least 45 days prior to the Closing Date (or 90 days in case
such four-fiscal quarter period is the end of the Parent Borrower’s or the Target’s fiscal year), prepared after giving effect to the Transactions as if the Transactions had occurred as of such date (in the case of such balance sheet) or
at the beginning of such period (in the case of such statement of income). 
 8. The Lead Arrangers shall have received (a) audited
consolidated balance sheets of the Parent Borrower (or any direct or indirect parent thereof) and the Target and related statements of income, changes in equity and cash flows of the Parent Borrower (or any direct or indirect parent thereof) and the
Target for the three most recently completed fiscal years ended at least 90 days before the Closing Date and (b) unaudited consolidated balance sheets and related statements of income, changes in equity and cash flows of the Parent Borrower (or
any direct or indirect parent thereof) and the Target for each of the first three subsequent fiscal quarters after the date of the most recent financial statements delivered pursuant to clause (a) above and ended at least 45 days before the
Closing Date; provided that the filing of the required financial statements on form 10-K and form 10-Q within such time periods by the Parent Borrower (or any
direct or indirect parent thereof) or the Target will satisfy the requirements of this Paragraph. 
 9. All fees required to be paid on the
Closing Date pursuant to the Fee Letter and reasonable out-of-pocket expenses required to be paid on the Closing Date pursuant to the Commitment Letter, to the extent
invoiced at least three business days prior to the Closing Date, shall, upon the initial borrowing under the Incremental Term Facility, have been paid (which amounts may be offset against the proceeds of the Incremental Term Facility). 

  
 C-2 

 ANNEX I to 

EXHIBIT C 
 [PARENT BORROWER]

 SOLVENCY CERTIFICATE 

[            ], 2017 

Pursuant to Section [    ] of the Amendment, among [    ], the undersigned [chief financial
officer] [other officer with equivalent duties] of the Parent Borrower hereby certify as of the date hereof, solely on behalf of the Parent Borrower and not in their individual capacity and without assuming any personal liability whatsoever, that:

 1. I am familiar with the finances, properties, businesses and assets of the Parent Borrower and its Subsidiaries. I have
reviewed the Loan Documents and such other documentation and information and have made such investigation and inquiries as I have deemed necessary and prudent therefor. I have also reviewed the consolidated financial statements of the Parent
Borrower and its Subsidiaries, including projected financial statements and forecasts relating to income statements and cash flow statements of the Parent Borrower and its Subsidiaries. 

2. On the Closing Date, after giving effect to the Transactions, the Parent Borrower and its Subsidiaries (on a consolidated
basis) (a) have property with fair value greater than the total amount of their debts and liabilities, contingent (it being understood that the amount of contingent liabilities at any time shall be computed as the amount that, in light of all
the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability), subordinated or otherwise, (b) have assets with present fair salable value not less than the
amount that will be required to pay their liability on their debts as they become absolute and matured, (c) will be able to pay their debts and liabilities, subordinated, contingent or otherwise, as they become absolute and matured and
(d) are not engaged in business or a transaction, and are not about to engage in business or a transaction, for which their property would constitute an un-reasonably small capital. 

All capitalized terms used but not defined in this certificate shall have the meanings set forth in the Amendment or the Credit Agreement.

 [SIGNATURE PAGE TO FOLLOW] 

  
 Annex I to Exhibit C-1

 IN WITNESS WHEREOF, I have executed this Certificate as of the date first written above. 

 

			
	[PARENT BORROWER]
		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 Annex I to Exhibit C-2

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