Document:

Second Lien Credit Agreement dated 6/18/2007

 Exhibit 10.67 
 EXECUTION COPY 
 $45,000,000 
 SECOND LIEN CREDIT AGREEMENT 
 Dated as of June 18, 2007 
 among 
 DANKA OFFICE IMAGING COMPANY, AS
BORROWER, 
 DANKA HOLDING COMPANY, AS A GUARANTOR, 
 THE LENDERS PARTY HERETO 
 and 
 GENERAL ELECTRICAL CAPITAL CORPORATION, 
 AS ADMINISTRATIVE AGENT 
 and 
 GENERAL ELECTRICAL CAPITAL CORPORATION,

 AS COLLATERAL AGENT 
  ̈    ̈    ̈ 
 GE CAPITAL MARKETS,
INC., 
 AS SOLE LEAD ARRANGER AND BOOKRUNNER 
  

					
		  		  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 TABLE OF CONTENTS 
  

					
			
	 	  	 	  	Page
			
	 ARTICLE 1
	  	Definitions, Interpretation and Accounting Terms	  	1
			
	 Section 1.1
	  	    Defined Terms	  	1
			
	 Section 1.2
	  	    UCC Terms	  	25
			
	 Section 1.3
	  	    Accounting Terms and Principles	  	25
			
	 Section 1.4
	  	    Payments	  	25
			
	 Section 1.5
	  	    Interpretation	  	26
			
	 ARTICLE 2
	  	The Facility	  	26
			
	 Section 2.1
	  	    The Commitments	  	26
			
	 Section 2.2
	  	    Borrowing Procedures	  	26
			
	 Section 2.3
	  	    [RESERVED]	  	27
			
	 Section 2.4
	  	    [RESERVED]	  	27
			
	 Section 2.5
	  	    Termination of the Commitments	  	27
			
	 Section 2.6
	  	    Repayment of Loans	  	27
			
	 Section 2.7
	  	    Optional Prepayments	  	28
			
	 Section 2.8
	  	    Mandatory Prepayments	  	28
			
	 Section 2.9
	  	    Interest	  	29
			
	 Section 2.10
	  	    Conversion and Continuation Options	  	30
			
	 Section 2.11
	  	    Fees	  	31
			
	 Section 2.12
	  	    Application of Payments	  	31
			
	 Section 2.13
	  	    Payments and Computations	  	31
			
	 Section 2.14
	  	    Evidence of Debt	  	32
			
	 Section 2.15
	  	    Suspension of Eurodollar Rate Option	  	34
			
	 Section 2.16
	  	    Breakage Costs; Increased Costs; Capital Requirements	  	34
			
	 Section 2.17
	  	    Taxes	  	35
			
	 Section 2.18
	  	    Substitution of Lenders	  	38
			
	 ARTICLE 3
	  	Conditions To the Loans	  	39
			
	 Section 3.1
	  	    Conditions Precedent to the Loans	  	39
			
	 Section 3.2
	  	    Conditions Precedent to each Loan	  	41
			
	 Section 3.3
	  	    Determinations of Initial Borrowing Conditions	  	41
			
	 ARTICLE 4
	  	Representations and Warranties	  	41
			
	 Section 4.1
	  	    Corporate Existence; Compliance with Law	  	41
			
	 Section 4.2
	  	    Loan and Related Documents	  	42
			
	 Section 4.3
	  	    Ownership of Group Members	  	42
			
	 Section 4.4
	  	    Financial Statements	  	43

  

					
		  	i	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
			
	 Section 4.5
	  	    Material Adverse Effect	  	44
			
	 Section 4.6
	  	    Solvency	  	44
			
	 Section 4.7
	  	    Litigation	  	44
			
	 Section 4.8
	  	    Taxes	  	44
			
	 Section 4.9
	  	    Margin Regulations	  	44
			
	 Section 4.10
	  	    No Burdensome Obligations; No Defaults	  	44
			
	 Section 4.11
	  	    Investment Company Act; Public Utility Holding Company Act	  	45
			
	 Section 4.12
	  	    Labor Matters	  	45
			
	 Section 4.13
	  	    ERISA	  	45
			
	 Section 4.14
	  	    Environmental Matters	  	45
			
	 Section 4.15
	  	    Intellectual Property	  	46
			
	 Section 4.16
	  	    Title; Real Property	  	46
			
	 Section 4.17
	  	    Full Disclosure	  	46
			
	 Section 4.18
	  	    Patriot Act	  	47
			
	 ARTICLE 5
	  	Financial Covenants	  	47
			
	 Section 5.1
	  	    Maximum Consolidated Leverage Ratio	  	47
			
	 Section 5.2
	  	    Minimum Consolidated Fixed Charge Coverage Ratio	  	48
			
	 Section 5.3
	  	    Capital Expenditures	  	49
			
	 Section 5.4
	  	    Minimum Cumulative EBITDA	  	49
			
	 ARTICLE 6
	  	Reporting Covenants	  	49
			
	 Section 6.1
	  	    Financial Statements	  	49
			
	 Section 6.2
	  	    Other Events	  	52
			
	 Section 6.3
	  	    Copies of Notices and Reports	  	52
			
	 Section 6.4
	  	    Taxes	  	52
			
	 Section 6.5
	  	    Labor Matters	  	52
			
	 Section 6.6
	  	    ERISA Matters	  	53
			
	 Section 6.7
	  	    Environmental Matters	  	53
			
	 ARTICLE 7
	  	Affirmative Covenants	  	54
			
	 Section 7.1
	  	    Maintenance of Corporate Existence	  	54
			
	 Section 7.2
	  	    Compliance with Laws, Etc.	  	54
			
	 Section 7.3
	  	    Payment of Obligations	  	54
			
	 Section 7.4
	  	    Maintenance of Property	  	54
			
	 Section 7.5
	  	    Maintenance of Insurance	  	54
			
	 Section 7.6
	  	    Keeping of Books	  	55

  

 ii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
			
	 Section 7.7
	  	    Access to Books and Property	  	55
			
	 Section 7.8
	  	    Environmental	  	55
			
	 Section 7.9
	  	    Use of Proceeds	  	55
			
	 Section 7.10
	  	    Additional Collateral and Guaranties	  	56
			
	 Section 7.11
	  	    Deposit Accounts; Securities Accounts and Cash Collateral Accounts	  	57
			
	 Section 7.12
	  	    Interest Rate Contracts	  	57
			
	 Section 7.13
	  	    Credit Rating	  	57
			
	 Section 7.14
	  	    Redemption of Existing Notes	  	57
			
	 ARTICLE 8
	  	Negative Covenants	  	58
			
	 Section 8.1
	  	    Indebtedness	  	58
			
	 Section 8.2
	  	    Liens	  	58
			
	 Section 8.3
	  	    Investments	  	59
			
	 Section 8.4
	  	    Asset Sales	  	60
			
	 Section 8.5
	  	    Restricted Payments	  	61
			
	 Section 8.6
	  	    Prepayment of Indebtedness	  	62
			
	 Section 8.7
	  	    Fundamental Changes	  	62
			
	 Section 8.8
	  	    Change in Nature of Business	  	62
			
	 Section 8.9
	  	    Transactions with Affiliates	  	63
			
	 Section 8.10
	  	    Third-Party Restrictions on Indebtedness, Liens, Investments or Restricted Payments	  	63
			
	 Section 8.11
	  	    Modification of Certain Documents	  	64
			
	 Section 8.12
	  	    Accounting Changes; Fiscal Year	  	64
			
	 Section 8.13
	  	    Margin Regulations	  	64
			
	 Section 8.14
	  	    Compliance with ERISA	  	64
			
	 Section 8.15
	  	    Hazardous Materials	  	65
			
	 ARTICLE 9
	  	Events Of Default	  	65
			
	 Section 9.1
	  	    Definition	  	65
			
	 Section 9.2
	  	    Remedies	  	66
			
	 ARTICLE 10
	  	The Agents	  	67
			
	 Section 10.1
	  	    Appointment and Duties	  	67
			
	 Section 10.2
	  	    Binding Effect	  	68
			
	 Section 10.3
	  	    Use of Discretion	  	68
			
	 Section 10.4
	  	    Delegation of Rights and Duties	  	69

  

 iii 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
			
	 Section 10.5
	  	    Reliance and Liability	  	69
			
	 Section 10.6
	  	    Administrative Agent Individually	  	70
			
	 Section 10.7
	  	    Lender Credit Decision	  	70
			
	 Section 10.8
	  	    Expenses; Indemnities	  	70
			
	 Section 10.9
	  	    Resignation of Administrative Agent	  	71
			
	 Section 10.10
	  	    Release of Collateral or Guarantors	  	72
			
	 Section 10.11
	  	    Additional Secured Parties	  	72
			
	 ARTICLE 11
	  	Miscellaneous	  	73
			
	 Section 11.1
	  	    Amendments, Waivers, Etc.	  	73
			
	 Section 11.2
	  	    Assignments and Participations; Binding Effect	  	74
			
	 Section 11.3
	  	    Costs and Expenses	  	76
			
	 Section 11.4
	  	    Indemnities	  	77
			
	 Section 11.5
	  	    Survival	  	78
			
	 Section 11.6
	  	    Limitation of Liability for Certain Damages	  	78
			
	 Section 11.7
	  	    Lender-Creditor Relationship	  	78
			
	 Section 11.8
	  	    Right of Setoff	  	78
			
	 Section 11.9
	  	    Sharing of Payments, Etc.	  	79
			
	 Section 11.10
	  	    Marshaling; Payments Set Aside	  	79
			
	 Section 11.11
	  	    Notices	  	79
			
	 Section 11.12
	  	    Electronic Transmissions	  	80
			
	 Section 11.13
	  	    Governing Law	  	81
			
	 Section 11.14
	  	    Jurisdiction	  	81
			
	 Section 11.15
	  	    Waiver of Jury Trial	  	82
			
	 Section 11.16
	  	    Severability	  	82
			
	 Section 11.17
	  	    Execution in Counterparts	  	82
			
	 Section 11.18
	  	    Entire Agreement	  	82
			
	 Section 11.19
	  	    Use of Name	  	82
			
	 Section 11.20
	  	    Non-Public Information; Confidentiality	  	83
			
	 Section 11.21
	  	    Patriot Act Notice	  	83

  

 iv 

 TABLE OF CONTENTS 
 (continued) 
 SCHEDULES 
  

					
	 Schedule I
	 	–	  	Commitments
			
	 Schedule II
	 	 –
	  	Addresses for Notices
			
	 Schedule 1.01(a)
	 	 –
	  	Inactive Subsidiaries
			
	 Schedule 4.2
	 	 –
	  	Permits and Consents
			
	 Schedule 4.3
	 	 –
	  	Subsidiaries; Ownership Interests
			
	 Schedule 4.8
	 	 –
	  	Taxes
			
	 Schedule 4.12
	 	 –
	  	Labor Matters
			
	 Schedule 4.14
	 	 –
	  	Environmental Matters
			
	 Schedule 4.16
	 	 –
	  	Real Property
			
	 Schedule 8.1
	 	 –
	  	Indebtedness
			
	 Schedule 8.2
	 	 –
	  	Existing Liens
			
	 Schedule 8.3
	 	 –
	  	Investments
			
	 Schedule 8.5(c)(ii)
	 	 –
	  	Payment of Certain Liabilities
			
	 Schedule 8.9
	 	 –
	  	Transactions with Affiliates

  

					
		  		  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 This Second Lien Credit Agreement, dated as of
June 18, 2007, is entered into among DANKA OFFICE IMAGING COMPANY, a Delaware corporation (the “BORROWER”), DANKA HOLDING COMPANY, a Delaware corporation (“HOLDINGS”), the Lenders (as defined below), GENERAL
ELECTRIC CAPITAL CORPORATION (“GE CAPITAL”), as administrative agent for the Lenders (in such capacity, and together with its successors and permitted assigns, the “ADMINISTRATIVE AGENT”) and GENERAL ELECTRIC
CAPITAL CORPORATION, as collateral agent for the Secured Parties and the First Lien Secured Parties (in such capacity, and together with its successors and permitted assigns, the “COLLATERAL AGENT”). 
 The parties hereto agree as follows: 
 ARTICLE 1 
 DEFINITIONS, INTERPRETATION AND ACCOUNTING TERMS 
 Section 1.1 Defined Terms. As used in this Agreement, the following terms have the following meanings: 
 “Affected Lender” has the meaning specified in Section 2.18. 
 “Affiliate” means, with respect to any Person, each officer, director, general partner or joint-venturer of such Person and any other
Person that directly or indirectly controls, is controlled by, or is under common control with, such Person; provided, however, that no Secured Party shall be an Affiliate of the Borrower. For purpose of this definition,
“control” means the possession of either (a) the power to vote, or the beneficial ownership of, 10% or more of the Voting Stock of such Person or (b) the power to direct or cause the direction of the management and
policies of such Person, whether by contract or otherwise. 
 “Agents” means the Administrative Agent and the Collateral
Agent. 
 “Agreement” means this Credit Agreement. 
 “Applicable Margin” means a percentage equal to (a) during the period
commencing on the Closing Date and ending on the next date of determination that is at least 270 days after the Closing Date, the percentage set forth in the applicable column opposite Level I in the table set forth in clause (b) below
and (b) thereafter, as of each date of determination (and until the next such date of determination), a percentage equal to the percentage set forth below in the applicable column opposite the level corresponding to the Consolidated Leverage
Ratio in effect as of the last day of the most recently ended Fiscal Quarter: 
  

									
	LEVEL	  	 CONSOLIDATED LEVERAGE RATIO
	  	BASE RATE LOANS	 	 	EURODOLLAR RATE LOANS	 
	I	  	Greater than 4.50 to 1	  	5.10	%	 	6.10	%
	II	  	Less than or equal to 4.50 to 1 and greater than 4.00 to 1	  	5.00	%	 	6.00	%
	III	  	Less than or equal to 4.00 to 1 and greater than 3.50 to 1	  	4.75	%	 	5.75	%
	IV	  	Less than or equal to 3.50 to 1 and greater than 3.00 to 1	  	4.50	%	 	5.50	%
	V	  	Less than or equal to 3.00 to 1	  	4.25	%	 	5.25	%

  

					
		  		  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Each date of determination for the “Applicable Margin” shall be the date that is 3 Business Days after
delivery by the Borrower to the Administrative Agent of a new Compliance Certificate pursuant to Section 6.1(d). Notwithstanding anything to the contrary set forth in this Agreement (including the then effective Consolidated Leverage
Ratio), the Applicable Margin shall equal the percentage set forth in the appropriate column opposite Level I in the table above, effective immediately upon the occurrence of any Event of Default for as long as such Event of Default shall be
continuing. 
 “Approved Fund” means, with respect to any Lender, any Person (other than a natural Person) that (a) is
or will be engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business and (b) is advised or managed by (i) such Lender, (ii) any Affiliate
of such Lender or (iii) any Person (other than an individual) or any Affiliate of any Person (other than an individual) that administers or manages such Lender. 
 “Assignment” means an assignment agreement entered into by a Lender, as assignor, and any Person, as assignee, pursuant to the terms and provisions of Section 11.2 (with the consent of any
party whose consent is required by Section 11.2), accepted by the Administrative Agent, in substantially the form of Exhibit A, or any other form approved by the Administrative Agent. 
 “Base Rate” means, at any time, a rate per annum equal to the higher of (a) the rate last quoted by The Wall Street Journal as the
“base rate on corporate loans posted by at least 75% of the nation’s largest banks” in the United States or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal
Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the “bank prime loan” rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the
Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent) and (b) the sum of 0.5% per annum and the Federal Funds Rate. 
 “Base Rate Loan” means any Loan that bears interest based on the Base Rate. 
 “Benefit Plan” means any employee benefit plan as defined in Section 3(3) of ERISA (whether governed by the laws of the United
States or otherwise) to which any Group Member incurs or otherwise has any obligation or liability, contingent or otherwise. 
 “Borrowing” means a borrowing consisting of Loans made by the Lenders ratably according to their respective Commitments. 
 “Business Day” means any day of the year that is not a Saturday, Sunday or a day on which banks are required or authorized to close in New York City and, when determined in connection with notices and determinations in
respect of any Eurodollar Rate or Eurodollar Rate Loan or any funding, conversion, continuation, Interest Period or payment of any Eurodollar Rate Loan, that is also a day on which dealings in Dollar deposits are carried on in the London interbank
market. 
 “Capital Expenditures” means, for any Person for any period, the aggregate of all expenditures, whether or not
made through the incurrence of Indebtedness, by such Person and its Subsidiaries during such period for the acquisition, leasing (pursuant to a Capital Lease), construction, replacement, repair, substitution or improvement of fixed or capital assets
or additions to equipment, in each case required to be capitalized under GAAP on a Consolidated 

  

					
		  	2	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
balance sheet of such Person, excluding (a) interest capitalized during construction, (b) any expenditure to the extent, for purpose of the
definition of Permitted Acquisition, such expenditure is part of the aggregate amounts payable in connection with, or other consideration for, any Permitted Acquisition consummated during or prior to such period and (c) expenditures incurred to
replace assets damaged, destroyed or taken by a Governmental Authority with insurance proceeds or condemnation or eminent domain awards. 
 “Capital Lease” means, with respect to any Person, any lease of, or other arrangement conveying the right to use, any property (whether real, personal or mixed) by such Person as lessee that has been or should be accounted
for as a capital lease on a balance sheet of such Person prepared in accordance with GAAP. 
 “Capitalized Lease
Obligations” means, at any time, with respect to any Capital Lease, any lease entered into as part of any Sale and Leaseback Transaction of any Person or any synthetic lease, the amount of all obligations of such Person that is (or that
would be, if such synthetic lease or other lease were accounted for as a Capital Lease) capitalized on a balance sheet of such Person prepared in accordance with GAAP. 
 “Cash Collateral Account” means a deposit account or securities account in the name of the Borrower and under the sole control (as defined in the applicable UCC) of the Collateral Agent and
(a) in the case of a deposit account, from which the Borrower may not make withdrawals except as permitted by the Collateral Agent and (b) in the case of a securities account, with respect to which the Collateral Agent shall be the
entitlement holder and the only Person authorized to give entitlement orders with respect thereto. 
 “Cash Equivalents”
means (a) any readily-marketable securities (i) issued by, or directly, unconditionally and fully guaranteed or insured by the United States federal government or (ii) issued by any agency of the United States federal government the
obligations of which are fully backed by the full faith and credit of the United States federal government, (b) any readily-marketable direct obligations issued by any other agency of the United States federal government, any state of the
United States or any political subdivision of any such state or any public instrumentality thereof, in each case having a rating of at least “A-1” from S&P or at least “P-1” from Moody’s, (c) any
commercial paper rated at least “A-1” by S&P or “P-1” by Moody’s and issued by any Person organized under the laws of any state of the United States, (d) any Dollar-denominated time deposit, insured
certificate of deposit, overnight bank deposit or bankers’ acceptance issued or accepted by (i) any Lender or any Affiliate of any Lender or (ii) any commercial bank that is (A) organized under the laws of the United States, any
state thereof or the District of Columbia, (B) “adequately capitalized” (as defined in the regulations of its primary federal banking regulators) and (C) has Tier 1 capital (as defined in such regulations) in excess of
$250,000,000 and (e) shares of any United States money market fund that (i) has substantially all of its assets invested continuously in the types of investments referred to in clause (a), (b), (c) or
(d) above with maturities as set forth in the proviso below, (ii) has net assets in excess of $500,000,000 and (iii) has obtained from either S&P or Moody’s the highest rating obtainable for money market funds in the United
States; provided, however, that the maturities of all obligations specified in any of clauses (a), (b), (c) and (d) above shall not exceed 365 days. 
 “CERCLA” means the United States Comprehensive Environmental Response, Compensation, and Liability Act (42 U.S.C. §§ 9601 et
seq.). 
  

					
		  	3	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Change of Control” means the occurrence of any of the following: (a) any Person or
group of Persons (other than Cypress Group and its Affiliates) shall have acquired beneficial ownership of 20% or more of the issued and outstanding Voting Stock of the Parent, (b) during any period of twelve consecutive calendar months,
individuals who, at the beginning of such period, constituted the board of directors of the Parent (together with any new directors whose election by the board of directors of the Parent or whose nomination for election by the stockholders of the
Parent was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning of such period or whose elections or nomination for election was previously so approved) cease for any reason other
than death or disability to constitute a majority of the directors then in office, (c) the Parent shall cease to own and control legally and beneficially, directly or indirectly, all of the economic and voting rights associated with ownership
of all of the outstanding Voting Stock of all classes of Voting Stock of Holdings, (d) Holdings shall cease to own and control legally and beneficially all of the economic and voting rights associated with ownership of all outstanding Voting
Stock of all classes of Voting Stock of the Borrower and (e) a “Change of Control” or any term of similar effect, as defined under any documentation governing any Indebtedness of any Group Member having a principal amount in
excess of $1,000,000 shall occur. 
 “Closing Date” means the date on which the Loans are made. 
 “Code” means the U.S. Internal Revenue Code of 1986. 
 “Collateral” means all property and interests in property and proceeds thereof now owned or hereafter acquired by any Loan Party in or upon which a Lien is granted or purported to be granted pursuant
to any Loan Document. 
 “Commitment” means, with respect to each Lender, the commitment of such Lender to make Loans to the
Borrower in the aggregate principal amount outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule I (Commitments) under the caption “Commitment” (as amended to reflect each Assignment executed by
such Lender) and as such amount may be reduced pursuant to this Agreement, and “Commitments” means the aggregate Commitments of all Lenders. 
 “Compliance Certificate” means a certificate substantially in the form of Exhibit G. 
 “Consolidated” means, with respect to any Person, the accounts of such Person and its Subsidiaries consolidated in accordance with GAAP. 
 “Consolidated Adjusted EBITDA” means, with respect to any Person for any period, $6,100,000 for each Fiscal Quarter ending on June 30, 2006, September 30, 2006, December 31,
2006 and March 31, 2007, respectively. 
 “Consolidated Cash Interest Expense” means, with respect to any Person for
any period, the Consolidated Interest Expense of such Person for such period less the sum of, in each case to the extent included in the definition of Consolidated Interest Expense, (a) the amortized amount of debt discount and debt
issuance costs, (b) charges relating to write-ups or write-downs in the book or carrying value of existing Consolidated Total Debt, (c) interest payable in evidences of Indebtedness or by addition to the principal of the related
Indebtedness and (d) other non-cash interest. 
  

					
		  	4	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Consolidated Current Assets” means, with respect to any Person at any date, the total
Consolidated current assets of such Person at such date other than cash, Cash Equivalents and any Indebtedness owing to such Person or any of its Subsidiaries by Affiliates of such Person. 
 “Consolidated Current Liabilities” means, with respect to any Person at any date, all liabilities of such Person and its Subsidiaries at
such date that should be classified as current liabilities on a Consolidated balance sheet of such Person; provided, however, that “Consolidated Current Liabilities” shall exclude the principal amount of the Loans then
outstanding. 
 “Consolidated EBITDA” means, with respect to any Person for any period, (a) the Consolidated Net Income
of such Person for such period plus (b) the sum of, in each case to the extent included in the calculation of such Consolidated Net Income but without duplication, (i) any provision for United States federal income taxes or other
taxes measured by net income, (ii) Consolidated Interest Expense, amortization of debt discount and commissions and other fees and charges associated with Indebtedness (including, without limitation, amortization and expenses related to the
consummation of the Borrowings on the Closing Date and the Related Transactions and the payment of all fees, costs and expenses associated with the foregoing, as disclosed to the Administrative Agent on or prior to the Closing Date), (iii) any
loss from extraordinary or non-recurring items, (iv) any depreciation, depletion and amortization expense, (v) any aggregate net loss on the Sale of property (other than accounts (as defined under the applicable UCC) and inventory) outside
the ordinary course of business and (vi) any other non-cash expenditure, charge or loss for such period (other than any non-cash expenditure, charge or loss relating to write-offs, write-downs or reserves with respect to accounts and
inventory), including the amount of any compensation deduction as the result of any grant of Stock or Stock Equivalents to employees, officers, directors or consultants and minus (c) the sum of, in each case to the extent included in the
calculation of such Consolidated Net Income and without duplication, (i) any credit for United States federal income taxes or other taxes measured by net income, (ii) any interest income, (iii) any gain from extraordinary items and
any other non-recurring gain, (iv) any aggregate net gain from the Sale of property (other than accounts (as defined in the applicable UCC) and inventory) out of the ordinary course of business by such Person, (v) any other non-cash gain,
including any reversal of a charge referred to in clause (b)(vi) above by reason of a decrease in the value of any Stock or Stock Equivalent, and (vi) any other cash payment in respect of expenditures, charges and losses that have been
added to Consolidated EBITDA of such Person pursuant to clause (b)(vi) above in any prior period. 
 “Consolidated Fixed
Charge Coverage Ratio” means, with respect to any Person for any period, the ratio of (a) Consolidated EBITDA (or, if applicable for any Fiscal Quarter during the applicable period, the Consolidated Adjusted EBITDA for such Fiscal
Quarter) of such Person for such period minus Capital Expenditures of such Person for such period (excluding Capital Expenditures financed with Indebtedness) minus the total liability for United States federal income taxes and other
taxes measured by net income actually payable by such Person in respect of such period to (b) the Consolidated Fixed Charges of such Person for such period. 
 “Consolidated Fixed Charges” means, with respect to any Person for any period, the sum, determined on a Consolidated basis, of (a) the Consolidated Cash Interest Expense of such Person and its
Subsidiaries for such period (net of cash interest income for such period), (b) the principal amount of Consolidated Total Debt of such Person and its Subsidiaries having a scheduled due date during such period, (c) all cash dividends
payable by such Person and its Subsidiaries on Stock in respect of such period to Persons other than such Person and its Subsidiaries and (d) all commitment fees and other costs, fees and expenses payable by such Person and its Subsidiaries
during such period in order to effect, or because of, the incurrence of any Indebtedness (other than the initial Borrowings and Issuance of Letters of Credit on the Closing Date and the Related Transactions and all fees, costs and expenses
associated with the foregoing). 
  

					
		  	5	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Consolidated Interest Expense” means, for any Person for any period,
(a) Consolidated total interest expense of such Person and its Subsidiaries for such period and including, in any event, (i) interest capitalized during such period and net costs under Interest Rate Contracts for such period and
(ii) all fees, charges, commissions, discounts and other similar obligations (other than reimbursement obligations) with respect to letters of credit, bank guarantees, banker’s acceptances, surety bonds and performance bonds (whether or
not matured) payable by such Person and its Subsidiaries during such period minus (b) the sum of (i) Consolidated net gains of such Person and its Subsidiaries under Interest Rate Contracts for such period and (ii) Consolidated
interest income of such Person and its Subsidiaries for such period. 
 “Consolidated Leverage Ratio” means, with respect to
any Person as of any date, the ratio of (a) Consolidated Total Debt of such Person outstanding as of such date to (b) Consolidated EBITDA (or, if applicable for any Fiscal Quarter during the applicable period, the Consolidated Adjusted
EBITDA for such Fiscal Quarter) for such Person for the last period of four consecutive Fiscal Quarters ending on or before such date. 
 “Consolidated Net Income” means, with respect to any Person, for any period, the Consolidated net income (or loss) of such Person and its Subsidiaries for such period; provided, however, that the following
shall be excluded: (a) the net income of any other Person in which such Person or one of its Subsidiaries has a joint interest with a third-party (which interest does not cause the net income of such other Person to be Consolidated into the net
income of such Person), except to the extent of the amount of dividends or distributions paid to such Person or Subsidiary, (b) the net income of any Subsidiary of such Person that is, on the last day of such period, subject to any restriction
or limitation on the payment of dividends or the making of other distributions, to the extent of such restriction or limitation and (c) the net income of any other Person arising prior to such other Person becoming a Subsidiary of such Person
or merging or consolidating into such Person or its Subsidiaries. 
 “Consolidated Total Debt” of any Person means all
Indebtedness of a type described in clause (a), (b), (c)(i) (except to the extent cash collateralized), (d) or (f) of the definition thereof and all Guaranty Obligations with respect to any such
Indebtedness, in each case of such Person and its Subsidiaries on a Consolidated basis. 
 “Constituent Documents” means,
with respect to any Person, collectively and, in each case, together with any modification of any term thereof, (a) the articles of incorporation, certificate of incorporation, constitution or certificate of formation of such Person,
(b) the bylaws, operating agreement or joint venture agreement of such Person, (c) any other constitutive, organizational or governing document of such Person, whether or not equivalent, and (d) any other document setting forth the
manner of election or duties of the directors, officers or managing members of such Person or the designation, amount or relative rights, limitations and preferences of any Stock of such Person. 
 “Contractual Obligation” means, with respect to any Person, any provision of any Security issued by such Person or of any document or
undertaking (other than a Loan Document) to which such Person is a party or by which it or any of its property is bound or to which any of its property is subject. 
  

					
		  	6	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Control Agreement” means, with respect to any deposit account, any securities account,
commodity account, securities entitlement or commodity contract, an agreement, in form and substance reasonably satisfactory to the Collateral Agent, among the Collateral Agent, the financial institution or other Person at which such account is
maintained or with which such entitlement or contract is carried and the Loan Party maintaining such account, effective to grant “control” (as defined under the applicable UCC) over such account to the Collateral Agent. 

“Controlled Deposit Account” means each deposit account (including all funds on deposit therein) that is the subject of an effective
Control Agreement and that is maintained by any Loan Party with a financial institution reasonably approved by the Administrative Agent. 
 “Controlled Securities Account” means each securities account or commodity account (including all financial assets held therein and all certificates and instruments, if any, representing or evidencing such financial assets)
that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a securities intermediary or commodity intermediary reasonably approved by the Administrative Agent. 
 “Convertible Participating Shares” means the 6.5% senior convertible participating shares issued by the Parent on December 17,
1999. 
 “Copyrights” means all rights, title and interests (and all related IP Ancillary Rights) arising under any
Requirement of Law in or relating to copyrights and all mask work, database and design rights, whether or not registered or published, all registrations and recordations thereof and all applications in connection therewith. 
 “Corporate Chart” means a document in form reasonably acceptable to the Administrative Agent and setting forth, as of a date set forth
therein, for each Person that is a Loan Party, that is subject to Section 7.10 or that is a Subsidiary or joint venture of any of them, (a) the full legal name of such Person, (b) the jurisdiction of organization and any
organizational number and tax identification number of such Person, (c) the location of such Person’s chief executive office (or, if applicable, sole place of business) and (d) the number of shares of each class of Stock of such
Person (other than Holdings) authorized, the number outstanding and the number and percentage of such outstanding shares for each such class owned, directly or indirectly, by any Loan Party or any Subsidiary of any of them. 
 “Customary Permitted Liens” means, with respect to any Person, any of the following: 
 (a) Liens (i) with respect to the payment of taxes, assessments or other governmental charges or (ii) of suppliers, carriers, materialmen,
warehousemen, workmen or mechanics and other similar Liens, in each case imposed by law or arising in the ordinary course of business, and, for each of the Liens in clauses (i) and (ii) above for amounts that are not yet due
or that are being contested in good faith by appropriate proceedings diligently conducted and with respect to which adequate reserves or other appropriate provisions are maintained on the books of such Person in accordance with GAAP; 
 (b) Liens of a collection bank on items in the course of collection arising under Section 4-208 of the UCC as in effect in the State of New York or
any similar section under any applicable UCC or any similar Requirement of Law of any foreign jurisdiction; 
  

					
		  	7	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (c) pledges, cash deposits or other Liens (that are non-consensual) made in the ordinary course of
business (i) in connection with workers’ compensation, unemployment insurance or other types of social security benefits (other than any Lien imposed by ERISA), (ii) to secure the performance of bids, tenders, leases (other than
Capital Leases) sales or other trade contracts (other than for the repayment of borrowed money) or (iii) made in lieu of, or to secure the performance of, surety, customs, reclamation or performance bonds (in each case not related to judgments
or litigation); 
 (d) judgment liens (other than for the payment of taxes, assessments or other governmental charges) securing judgments and
other proceedings not constituting an Event of Default under Section 9.1(e) and pledges or cash deposits made in lieu of, or to secure the performance of, judgment or appeal bonds in respect of such judgments and proceedings; 

(e) Liens (i) arising by reason of zoning restrictions, easements, licenses, reservations, restrictions, covenants, rights-of-way, encroachments,
minor defects or irregularities in title (including leasehold title) and other similar encumbrances on the use of real property or (ii) consisting of leases, licenses or subleases granted by a lessor, licensor or sublessor on its property (in
each case other than Capital Leases) otherwise permitted under Section 8.4 that, for each of the Liens in clauses (i) and (ii) above, do not, in the aggregate, materially (x) impair the value or marketability
of such real property or (y) interfere with the ordinary conduct of the business conducted and proposed to be conducted at such real property; 
 (f) Liens of landlords and mortgagees of landlords (i) arising by statute or under any lease or related Contractual Obligation entered into in the ordinary course of business, (ii) on fixtures and movable tangible property located
on the real property leased or subleased from such landlord, (iii) for amounts not yet due or that are being contested in good faith by appropriate proceedings diligently conducted and (iv) for which adequate reserves or other appropriate
provisions are maintained on the books of such Person in accordance with GAAP; and 
 (g) the title and interest of a lessor or sublessor in
and to personal property leased or subleased (other than through a Capital Lease), in each case extending only to such personal property and the proceeds thereof. 
 “Default” means any Event of Default and any event that, with the passing of time or the giving of notice or both, would become an Event of Default. 
 “Disclosure Documents” means, collectively, (a) all confidential information memoranda and related materials prepared in connection
with the syndication of the Facility and (b) all other documents filed by any Group Member with the United States Securities and Exchange Commission. 
 “DKAP” means, collectively, DK Acquisition Partners, LP and any of its Affiliates. 
 “Dollars” and the sign “$” each mean the lawful money of the United States of America. 
 “Domestic Person” means any “United States person” under and as defined in Section 7701(a)(30) of the Code. 
 “E-Fax” means any system used to receive or transmit faxes electronically. 
  

					
		  	8	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Electronic Transmission” means each document, instruction, authorization, file,
information and any other communication transmitted, posted or otherwise made or communicated by e-mail or E-Fax, or otherwise to or from an E-System or other equivalent service. 
 “Environmental Laws” means all Requirements of Law and Permits imposing liability or standards of conduct for or relating to the
regulation and protection of human health, safety, the environment and natural resources, including CERCLA, the SWDA, the Hazardous Materials Transportation Act (49 U.S.C. §§ 5101 et seq.), the Federal Insecticide, Fungicide, and
Rodenticide Act (7 U.S.C. §§ 136 et seq.), the Toxic Substances Control Act (15 U.S.C. §§ 2601 et seq.), the Clean Air Act (42 U.S.C. §§ 7401 et seq.), the Federal Water Pollution Control Act (33 U.S.C. §§
1251 et seq.), the Occupational Safety and Health Act (29 U.S.C. §§ 651 et seq.), the Safe Drinking Water Act (42 U.S.C. §§ 300(f) et seq.), all regulations promulgated under any of the foregoing, all analogous Requirements
of Law and Permits and any environmental transfer of ownership notification or approval statutes, including the Industrial Site Recovery Act (N.J. Stat. Ann. §§ 13:1K-6 et seq.). 
 “Environmental Liabilities” means all Liabilities (including costs of Remedial Actions, natural resource damages and costs and expenses
of investigation and feasibility studies) that may be imposed on, incurred by or asserted against any Group Member as a result of, or related to, any claim, suit, action, investigation, proceeding or demand by any Person, whether based in contract,
tort, implied or express warranty, strict liability, criminal or civil statute or common law or otherwise, arising under any Environmental Law or in connection with any environmental, health or safety condition or with any Release and resulting from
the ownership, lease, sublease or other operation or occupation of property by any Group Member, whether on, prior or after the date hereof. 
 “ERISA” means the United States Employee Retirement Income Security Act of 1974. 
 “ERISA
Affiliate” means, collectively, the Parent, Holdings, the Borrower and any Person under common control, or treated as a single employer, with any of the foregoing, within the meaning of Section 414(b) or (c) of the Code (or
Sections 4.14 (m) or (o) of the Code solely for purposes of provisions relating to Section 4.12 of the Code). 
 “ERISA Event” means any of the following: (a) a reportable event referenced in Section 4043(b) of ERISA (or, unless the 30-day notice requirement has been duly waived under the applicable regulations,
Section 4043(c) of ERISA) with respect to a Title IV Plan, (b) the withdrawal of any ERISA Affiliate from a Title IV Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer, as defined in
Section 4001(a)(2) of ERISA, (c) the complete or partial withdrawal of any ERISA Affiliate from any Multiemployer Plan, (d) with respect to any Multiemployer Plan, the filing of a notice of reorganization, insolvency or termination
(or treatment of a plan amendment as termination) under Section 4041A of ERISA, (e) the filing of a notice of intent to terminate a Title IV Plan (or treatment of a plan amendment as termination) under Section 4041(c) of ERISA,
(f) the institution of proceedings to terminate a Title IV Plan or Multiemployer Plan by the PBGC, (g) the failure to make any required contribution to any Title IV Plan or Multiemployer Plan when due, (h) the imposition of a lien
under Section 412 of the Code or Section 302 or 4068 of ERISA on any property (or rights to property, whether real or personal) of any ERISA Affiliate, and (i) the failure of a Benefit Plan or any trust thereunder intended to qualify
for tax exempt status under Section 401 or 501 of the Code or other Requirements of Law to qualify thereunder. 
  

					
		  	9	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “E-Signature” means the process of attaching to or logically associating with an
Electronic Transmission an electronic symbol, encryption, digital signature or process (including the name or an abbreviation of the name of the party transmitting the Electronic Transmission) with the intent to sign, authenticate or accept such
Electronic Transmission. 
 “E-System” means any electronic system,
including Intralinks® and ClearPar® and any other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by the Administrative Agent, any of its Related Persons or any other Person, providing for access to
data protected by passcodes or other security system. 
 “Eurodollar Base Rate” means, with respect to any Interest Period
for any Eurodollar Rate Loan, the rate determined by the Administrative Agent to be the offered rate for deposits in Dollars for the applicable Interest Period appearing on the Reuters Screen LIBOR01 page as of 11:00 a.m. (London time) on the
second full Business Day next preceding the first day of each Interest Period. In the event that such rate does not appear on the Reuters Screen LIBOR01 page at such time, the “Eurodollar Base Rate” shall be determined by reference
to such other comparable publicly available service for displaying the offered rate for deposit in Dollars in the London interbank market as may be selected by the Administrative Agent and, in the absence of availability, such other method to
determine such offered rate as may be selected by the Administrative Agent in its sole discretion. 
 “Eurodollar Rate”
means, with respect to any Interest Period and for any Eurodollar Rate Loan, an interest rate per annum determined as the ratio of (a) the Eurodollar Base Rate with respect to such Interest Period for such Eurodollar Rate Loan to (b) the
difference between the number one and the Eurodollar Reserve Requirements with respect to such Interest Period and for such Eurodollar Rate Loan. 
 “Eurodollar Rate Loan” means any Loan that bears interest based on the Eurodollar Rate. 
 “Eurodollar
Reserve Requirements” means, with respect to any Interest Period and for any Eurodollar Rate Loan, a rate per annum equal to the aggregate, without duplication, of the maximum rates (expressed as a decimal number) of reserve requirements in
effect 2 Business Days prior to the first day of such Interest Period (including basic, supplemental, marginal and emergency reserves) under any regulations of the Federal Reserve Board or other Governmental Authority having jurisdiction with
respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “eurocurrency liabilities” in Regulation D of the Federal Reserve Board) maintained by a member bank of the United
States Federal Reserve System. 
 “Event of Default” has the meaning specified in Section 9.1. 
 “Excess Cash Flow” means, for any period, (a) Consolidated EBITDA of Parent for such period, minus (b) without
duplication, (i) any cash principal payment on the Loans and on the loans made under the First Lien Credit Agreement (but, in the case of payment in respect of the Revolving Loans (as such term is defined in the First Lien Credit Agreement),
only to the extent that the Revolving Credit Commitments (as such term is defined in the First Lien Credit Agreement) are permanently reduced by the amount of such payment) during such period other than any mandatory prepayment required pursuant to
Section 2.8(a) because of the existence of Excess Cash Flow, (ii) any scheduled or other mandatory cash principal payment made by the Borrower or any of its Subsidiaries during such period on any Capitalized Lease Obligation or

  

					
		  	10	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
other Indebtedness (but only, if such Indebtedness may be reborrowed, to the extent such payment results in a permanent reduction in commitments thereof),
(iii) any cash Capital Expenditure made by such Person or any of its Subsidiaries during such period to the extent permitted by this Agreement, excluding any such Capital Expenditure to the extent financed through the incurrence of Capitalized
Lease Obligations or any long-term Indebtedness other than the Obligations and any Capitalized Lease Obligations, (iv) the Cash Consolidated Interest Expense of such Person for such period, (v) any cash losses from extraordinary or
non-recurring items, and (vi) any cash payment made during such period to satisfy obligations for United States federal income taxes or other taxes measured by net income and plus (c) without duplication, to the extent included in
the calculation of Consolidated EBITDA pursuant to clause (b)(i) of the definition thereof, any provision for United States federal income taxes or other taxes measured by net income. 
 “Excluded Foreign Subsidiary” means any Subsidiary that is not a Domestic Person and in respect of which any of (a) the pledge of
all of the Stock of such Subsidiary as Collateral for any Obligation of the Borrower, (b) the grant by such Subsidiary of a Lien on any of its property as Collateral for any Obligation of the Borrower or (c) such Subsidiary incurring
Guaranty Obligations with respect to any Obligation of Holdings, the Borrower or any Domestic Person would, in the good faith judgment of the Borrower, result in materially adverse tax consequences to the Loan Parties and their Subsidiaries, taken
as a whole; provided, however, that (x) the Administrative Agent and the Borrower may agree that, despite the foregoing, any such Subsidiary shall not be an “Excluded Foreign Subsidiary” and (y) no such
Subsidiary shall be an “Excluded Foreign Subsidiary” if, with substantially similar tax consequences, such Subsidiary has entered into any Guaranty Obligations with respect to, such Subsidiary has granted a security interest in any
of its property to secure, or more than 66% of the Voting Stock of such Subsidiary was pledged to secure, directly or indirectly, any Indebtedness (other than the Obligations) of any Loan Party. 
 “Existing Agent” means Bank of America, N.A. (f/k/a Fleet Capital Corporation), in its capacity as administrative agent under the
Existing Credit Agreement. 
 “Existing Credit Agreement” means that certain Loan and Security Agreement, dated as of
July 1, 2003, among the Borrower and Holdings, as borrowers, the Parent, as guarantor, the institutions party thereto as lenders and the Existing Agent. 
 “Facility” means the Commitments and the provisions herein related to the Loans. 
 “Federal Funds Rate” means, for any period, a fluctuating interest rate per annum equal for each day during such period to the weighted average of the rates on overnight federal funds transactions with members of the
Federal Reserve System arranged by federal funds brokers, as determined by the Administrative Agent in its sole discretion. 
 “Federal Reserve Board” means the Board of Governors of the United States Federal Reserve System and any successor thereto. 
 “Fee Letter” means the Fee Letter, dated as of June 18, 2007, addressed to the Borrower from GE Capital and accepted by the Borrower, with respect to certain fees to be paid from time to time to
GE Capital and its Related Persons. 
 “Final Maturity Date” means December 18, 2012. 
  

					
		  	11	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Financial Statement” means each financial statement delivered pursuant to
Section 4.4 or 6.1. 
 “First Lien Agent” means the administrative agent under the First Lien Credit
Agreement. 
 “First Lien Credit Agreement” means the First Lien Credit Agreement, dated as of the date hereof, among
Holdings, the Borrower, the lenders party thereto, the First Lien Agent and GE Capital, as collateral agent. 
 “First Lien
Facilities” means the “Facilities” under and as defined in the First Lien Credit Agreement. 
 “First Lien
Lenders” means the lenders under the First Lien Credit Agreement. 
 “First Lien Loan Documents” means the First
Lien Credit Agreement and the other Loan Documents (as defined in the First Lien Credit Agreement). 
 “First Lien
Obligations” means the “Obligations” under and as defined in the First Lien Credit Agreement. 
 “First
Lien Secured Parties” means the First Lien Agent, the Collateral Agent, the First Lien Lenders and each other holder of First Lien Obligations. 
 “Fiscal Quarter” means each 3 fiscal month period ending on March 31, June 30, September 30 or December 31. 
 “Fiscal Year” means the twelve-month period ending on March 31. 
 “GAAP” means generally accepted accounting principles in the United States of America, as in effect from time to time, set forth in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants, in the statements and pronouncements of the Financial Accounting Standards Board and in such other statements by such other
entity as may be in general use by significant segments of the accounting profession that are applicable to the circumstances as of the date of determination. Subject to Section 1.3, all references to “GAAP” shall be to
GAAP applied consistently with the principles used in the preparation of the Financial Statements described in Section 4.4(a). 
 “Governmental Authority” means any nation, sovereign or government, any state or other political subdivision thereof, any agency, authority or instrumentality thereof and any entity or authority exercising executive,
legislative, taxing, judicial, regulatory or administrative functions of or pertaining to government, including any central bank, stock exchange, regulatory body, arbitrator, public sector entity, supra-national entity (including the European Union
and the European Central Bank) and any self-regulatory organization (including the National Association of Insurance Commissioners). 
 “Group Members” means, collectively, the Parent, Holdings, the Borrower and their respective Subsidiaries. 
  

					
		  	12	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Group Members’ Accountants” means Ernst & Young LLP or other
nationally-recognized independent registered certified public accountants reasonably acceptable to the Administrative Agent. 
 “Guarantor” means Holdings, each Wholly Owned Subsidiary of the Borrower listed on Schedule 4.3 that is not an Excluded Foreign Subsidiary and each other Person that enters into any Guaranty Obligation with
respect to any Obligation of any Loan Party. 
 “Guaranty and Security Agreement” means a guaranty and security agreement,
in substantially the form of Exhibit H, among the Administrative Agent, the Collateral Agent, the Borrower and other Guarantors from time to time party thereto. 
 “Guaranty Obligation” means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person for any
Indebtedness, lease, dividend or other obligation (the “primary obligation”) of another Person (the “primary obligor”), if the purpose or intent of such Person in incurring such liability, or the economic effect
thereof, is to guarantee such primary obligation or provide support, assurance or comfort to the holder of such primary obligation or to protect or indemnify such holder against loss with respect to such primary obligation, including (a) the
direct or indirect guaranty, endorsement (other than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by such Person of any primary obligation, (b) the incurrence of
reimbursement obligations with respect to any letter of credit or bank guarantee in support of any primary obligation, (c) the existence of any Lien, or any right, contingent or otherwise, to receive a Lien, on the property of such Person
securing any part of any primary obligation and (d) any liability of such Person for a primary obligation through any Contractual Obligation (contingent or otherwise) or other arrangement (i) to purchase, repurchase or otherwise acquire
such primary obligation or any security therefor or to provide funds for the payment or discharge of such primary obligation (whether in the form of a loan, advance, stock purchase, capital contribution or otherwise), (ii) to maintain the
solvency, working capital, equity capital or any balance sheet item, level of income or cash flow, liquidity or financial condition of any primary obligor, (iii) to make take-or-pay or similar payments, if required, regardless of
non-performance by any other party to any Contractual Obligation, (iv) to purchase, sell or lease (as lessor or lessee) any property, or to purchase or sell services, primarily for the purpose of enabling the primary obligor to satisfy such
primary obligation or to protect the holder of such primary obligation against loss or (v) to supply funds to or in any other manner invest in, such primary obligor (including to pay for property or services irrespective of whether such
property is received or such services are rendered); provided, however, that “Guaranty Obligations” shall not include (x) endorsements for collection or deposit in the ordinary course of business and
(y) product warranties given in the ordinary course of business. The outstanding amount of any Guaranty Obligation shall equal the outstanding amount of the primary obligation so guaranteed or otherwise supported or, if lower, the stated
maximum amount for which such Person may be liable under such Guaranty Obligation. 
 “Hazardous Material” means any
substance, material or waste that is classified, regulated or otherwise characterized under any Environmental Law as hazardous, toxic, a contaminant or a pollutant or by other words of similar meaning or regulatory effect, including petroleum or any
fraction thereof, asbestos, polychlorinated biphenyls and radioactive substances. 
 “Hedging Agreement” means any Interest
Rate Contract, foreign exchange, swap, option or forward contract, spot, cap, floor or collar transaction, any other derivative instrument and any other similar speculative transaction and any other similar agreement or arrangement designed to alter
the risks of any Person arising from fluctuations in any underlying variable. 
  

					
		  	13	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Holdings” means Danka Holding Company, a Delaware corporation. 
 “Inactive Subsidiary” means each Subsidiary of the Parent listed on Schedule 1.01(a). 
 “Indebtedness” of any Person means, without duplication, any of the following, whether or not matured: (a) all indebtedness for
borrowed money, (b) all obligations evidenced by notes, bonds, debentures or similar instruments, (c) all reimbursement and all obligations with respect to (i) letters of credit, bank guarantees or bankers’ acceptances or
(ii) surety, customs, reclamation or performance bonds, in each case other than those related to judgments or litigation and other than those entered into in the ordinary course of business, (d) all obligations to pay the deferred purchase
price of property or services, other than trade payables incurred in the ordinary course of business that are not overdue by more than 90 days, (e) all obligations created or arising under any conditional sale or other title retention
agreement, regardless of whether the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property, (f) all Capitalized Lease Obligations, (g) all obligations,
whether or not contingent, to purchase, redeem, retire, defease or otherwise acquire for value any of its own Stock or Stock Equivalents (or any Stock or Stock Equivalent of a direct or indirect parent entity thereof, including, without limitation,
the Convertible Participating Shares) prior to the date that is 180 days after the Final Maturity Date, valued at, in the case of redeemable preferred Stock, the greater of the voluntary liquidation preference and the involuntary liquidation
preference of such Stock plus accrued and unpaid dividends, (h) all payments that would be required to be made in respect of any Hedging Agreement in the event of a termination (including an early termination) on the date of determination and
(i) all Guaranty Obligations for obligations of any other Person constituting Indebtedness of such other Person; provided, however, that the items in each of clauses (a) through (i) above shall constitute
“Indebtedness” of such Person solely to the extent, directly or indirectly, (x) such Person is liable for any part of any such item, (y) any such item is secured by a Lien on such Person’s property or (z) any
other Person has a right, contingent or otherwise, to cause such Person to become liable for any part of any such item or to grant such a Lien. 
 “Indemnified Matter” has the meaning specified in Section 11.4. 
 “Indemnitee” has
the meaning specified in Section 11.4. 
 “Initial Projections” means those financial projections, dated
June 12, 2007, and delivered to the Administrative Agent on June 12, 2007, covering the Fiscal Quarters ending June 30, 2007 through March 31, 2012. 
 “Intellectual Property” means all rights, title and interests in or relating to intellectual property and industrial property arising under any Requirement of Law and all IP Ancillary Rights relating
thereto, including all Copyrights, Patents, Trademarks, Internet Domain Names, Trade Secrets and IP Licenses. 
 “Intercreditor
Agreement” means the Intercreditor Agreement, dated as of June 25, 2007, among the Administrative Agent, the First Lien Agent, the Collateral Agent, Holdings and the Borrower. 
  

					
		  	14	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Interest Period” means, with respect to any Eurodollar Rate Loan, the period commencing
on the date such Eurodollar Rate Loan is made or converted to a Eurodollar Rate Loan or, if such loan is continued, on the last day of the immediately preceding Interest Period therefor and, in each case, ending 1, 2 or 3 months thereafter, as
selected by the Borrower pursuant hereto; provided, however, that (a) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next succeeding Business Day,
unless the result of such extension would be to extend such Interest Period into another such Business Day falls in the next calendar month, in which case such Interest Period shall end on the immediately preceding Business Day, (b) any
Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar
month, (c) the Borrower may not select any Interest Period ending after the Final Maturity Date, (d) the Borrower may not select any Interest Period in respect of Loans having an aggregate principal amount of less than $1,000,000 and
(e) there shall be outstanding at any one time no more than 10 Interest Periods. 
 “Interest Rate Contracts” means all
interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and interest rate insurance. 
 “Internet Domain Names” means all rights, title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to Internet domain names. 
 “Investment” means, with respect to any Person, directly or indirectly, (a) to own, purchase or otherwise acquire, in each case
whether beneficially or otherwise, any investment in, including any interest in, any Security of any other Person (other than any evidence of any Obligation), (b) to purchase or otherwise acquire, whether in one transaction or in a series of
transactions, all or a significant part of the property of any other Person or a business conducted by any other Person or all or substantially all of the assets constituting the business of a division, branch, brand or other unit operation of any
other Person, (c) to incur, or to remain liable under, any Guaranty Obligation for Indebtedness of any other Person, to assume the Indebtedness of any other Person or to make, hold, purchase or otherwise acquire, in each case directly or
indirectly, any deposit, loan, advance, commitment to lend or advance, or other extension of credit (including by deferring or extending the date of, in each case outside the ordinary course of business, the payment of the purchase price for Sales
of property or services to any other Person, to the extent such payment obligation constitutes Indebtedness of such other Person), excluding deposits with financial institutions available for withdrawal on demand, prepaid expenses, accounts
receivable and similar items created in the ordinary course of business, (d) to make, directly or indirectly, any contribution to the capital of any other Person or (e) to Sell any property for less than fair market value (including a
disposition of cash or Cash Equivalents in exchange for consideration of lesser value); provided, however, that such Investment shall be valued at the difference between the value of the consideration for such Sale and the fair market
value of the property Sold. The amount of any Investment shall be the original cost or amount of such Investment plus the cost or amount of all additions thereto, without any adjustments for increases or decreases in value, or write-ups, write-downs
or write-offs with respect to such Investment. 
 “IP Ancillary Rights” means, with respect to any other Intellectual
Property, as applicable, all foreign counterparts to, and all divisionals, reversions, continuations, continuations-in-part, reissues, reexaminations, renewals and extensions of, such Intellectual Property and all income, royalties, proceeds and
Liabilities at any time due or payable or asserted 

  

					
		  	15	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
under or with respect to any of the foregoing or otherwise with respect to such Intellectual Property, including all rights to sue or recover at law or in
equity for any past, present or future infringement, misappropriation, dilution, violation or other impairment thereof, and, in each case, all rights to obtain any other IP Ancillary Right. 
 “IP License” means all Contractual Obligations (and all related IP Ancillary Rights), whether written or oral, granting any right title
and interest in or relating to any Intellectual Property. 
 “IRS” means the Internal Revenue Service of the United States
and any successor thereto. 
 “Lender” means each financial institution or other Person that (a) is listed on the
signature pages hereof as a “Lender” or (b) from time to time becomes a party hereto by execution of an Assignment, in each case together with its successors. 
 “Liabilities” means all claims, actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines, penalties,
sanctions, costs, fees, taxes, commissions, charges, disbursements and expenses, in each case of any kind or nature (including interest accrued thereon or as a result thereto and fees, charges and disbursements of financial, legal and other advisors
and consultants), whether joint or several, whether or not indirect, contingent, consequential, actual, punitive, treble or otherwise. 
 “Lien” means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, deposit arrangement, encumbrance, easement, lien (statutory or other), security interest or other security arrangement and any other
preference, priority or preferential arrangement of any kind or nature whatsoever intended to secure any obligation, including any conditional sale contract or other title retention agreement, the interest of a lessor under a Capital Lease and any
synthetic or other financing lease having substantially the same economic effect as any of the foregoing. 
 “Loan” has the
meaning specified in Section 2.1. 
 “Loan Documents” means, collectively, this Agreement, any Notes, the
Guaranty and Security Agreement, the Intercreditor Agreement, the Control Agreements, the Fee Letter and, when executed, each document executed by a Loan Party and delivered to the Administrative Agent or to any Lender in connection with or pursuant
to any of the foregoing or the Obligations, together with any modification of any term, or any waiver with respect to, any of the foregoing. 
 “Loan Party” means the Borrower and each Guarantor. 
 “Material Adverse Effect” means an effect
that results in or causes, or could reasonably be expected to result in or cause, a material adverse change in any of (a) the condition (financial or otherwise), business, performance, prospects, operations or property of the Group Members,
taken as a whole, (b) the ability of any Loan Party to perform its obligations under any Loan Document and (c) the validity or enforceability of any Loan Document or the rights and remedies of the Agents, the Lenders and the other Secured
Parties under any Loan Document. 
 “Material Environmental Liabilities” means Environmental Liabilities exceeding
$1,000,000 in the aggregate. 
 “Moody’s” means Moody’s Investors Service, Inc. 
  

					
		  	16	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Mortgage” means any mortgage, deed of trust or other document executed or required
herein to be executed by any Loan Party and granting a security interest over real property in favor of the Collateral Agent as security for the Obligations. 
 “Mortgage Supporting Documents” means, with respect to any Mortgage for a parcel of real property, each document (including title policies or marked-up unconditional insurance binders (in each case,
together with copies of all documents referred to therein), maps, ALTA (or TLTA, if applicable) as-built surveys (in form and as to date that is sufficiently acceptable to the title insurer issuing title insurance to the Collateral Agent for such
title insurer to deliver endorsements to such title insurance as reasonably requested by the Collateral Agent), environmental assessments and reports and evidence regarding recording and payment of fees, insurance premium and taxes) that the
Administrative Agent may reasonably request, to create, register, perfect, maintain, evidence the existence, substance, form or validity of or enforce a valid lien on such parcel of real property in favor of the Collateral Agent for the benefit of
the Secured Parties, subject only to such Liens as the Administrative Agent may approve. 
 “Multiemployer Plan” means any
multiemployer plan, as defined in Section 400l(a)(3) of ERISA, to which any ERISA Affiliate has any obligation or liability, contingent or otherwise. 
 “Net Cash Proceeds” means proceeds received in cash from (a) any Sale of, or Property Loss Event with respect to, property, net of (i) out-of-pocket cash costs, fees and expenses paid or
required to be paid in connection therewith or as a result of any transaction occurring or deemed to occur to effectuate a prepayment hereunder, (ii) taxes paid or reasonably estimated to be payable as a result thereof and (iii) any amount
required to be paid or prepaid on Indebtedness (other than the Obligations and Indebtedness owing to any Group Member) secured by the property subject thereto or (b) any sale or issuance of Stock or incurrence of Indebtedness, in each case net
of brokers’, advisors’ and investment banking fees and other out-of-pocket underwriting discounts, commissions and other out-of-pocket cash costs, fees and expenses, in each case incurred in connection with such transaction;
provided, however, that any such proceeds received by any Subsidiary of the Borrower that is not a Wholly Owned Subsidiary of the Borrower shall constitute “Net Cash Proceeds” only to the extent of the aggregate direct
and indirect beneficial ownership interest of the Borrower therein. 
 “Non-Funding Lender” has the meaning specified in
Section 2.2(c). 
 “Non-U.S. Lender Party” means each Agent, each Lender, each SPV and each participant, in each
case that is not a Domestic Person. 
 “Note” means a promissory note of the Borrower, in substantially the form of
Exhibit B, payable to a Lender or its registered assigns in a principal amount equal to the aggregate initial principal amount of the Loans. 
 “Notice of Borrowing” has the meaning specified in Section 2.2. 
 “Notice of Conversion or Continuation” has the meaning specified in Section 2.10. 
 “Obligations” means, with respect to any Loan Party, all amounts, obligations, liabilities, covenants and duties of every type and description owing by such Loan Party to any Agent, any Lender, any other Indemnitee, any
participant or any SPV arising out of, under, or in connection with, any Loan Document, whether direct or indirect (regardless of whether acquired by 

  

					
		  	17	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
assignment), absolute or contingent, due or to become due, whether liquidated or not, now existing or hereafter arising and however acquired, and whether or
not evidenced by any instrument or for the payment of money, including, without duplication, (a) if such Loan Party is the Borrower, all Loans, (b) all interest, whether or not accruing after the filing of any petition in bankruptcy or
after the commencement of any insolvency, reorganization or similar proceeding, and whether or not a claim for post-filing or post-petition interest is allowed in any such proceeding, and (c) all other fees, expenses (including fees, charges
and disbursement of counsel), interest, commissions, charges, costs, disbursements, indemnities and reimbursement of amounts paid and other sums chargeable to such Loan Party under any Loan Document. 
 “Other Taxes” has the meaning specified in Section 2.17(c). 
 “Parent” means (a) Danka Business Systems PLC, a company organized under the laws of England and Wales or (b) from and after
the consummation of a transaction between Danka Business Systems PLC and the Transitional Parent permitted under Section 8.7 whereby the Transitional Parent becomes the surviving or continuing entity of such transaction, the Transitional
Parent. 
 “Patents” means all rights, title and interests (and all related IP Ancillary Rights) arising under any
Requirement of Law in or relating to letters patent and applications therefor. 
 “PBGC” means the United States Pension
Benefit Guaranty Corporation and any successor thereto. 
 “Permit” means, with respect to any Person, any permit, approval,
authorization, license, registration, certificate, concession, grant, franchise, variance or permission from, and any other Contractual Obligations with, any Governmental Authority, in each case whether or not having the force of law and applicable
to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 
 “Permitted
Acquisition” means any Proposed Acquisition satisfying each of the following conditions: (a) the aggregate amounts payable in connection with, and other consideration for (in each case, including all transaction costs and all
Indebtedness, liabilities and Guaranty Obligations incurred or assumed in connection therewith or otherwise reflected in a Consolidated balance sheet of Parent and the Proposed Acquisition Target), such Proposed Acquisition and all other Permitted
Acquisitions consummated on or prior to the date of the consummation of such Proposed Acquisition shall not exceed $1,000,000 (or $5,000,000; provided, however, that as of the date of consummation of any transaction as part of such
Proposed Acquisition and after giving effect to all transactions to occur on such date as part of such Proposed Acquisition, (i) the Consolidated Leverage Ratio shall be no greater than 3.75 to 1 on a Pro Forma Basis as of the last day of the
last Fiscal Quarter for which Financial Statements have been delivered hereunder and (ii) the excess of (A) the aggregate Revolving Credit Commitments over the aggregate Revolving Credit Outstandings (as such terms are defined in the First
Lien Credit Agreement) plus (B) any unrestricted cash and Cash Equivalents in Controlled Deposit Accounts and Controlled Securities Accounts shall be no less than $10,000,000), (b) the Administrative Agent shall have received
reasonable advance notice of such Proposed Acquisition including a reasonably detailed description thereof at least 30 days prior to the consummation of such Proposed Acquisition (or such later date as may be agreed by the Administrative Agent) and
on or prior to the date of such Proposed Acquisition, the Administrative Agent shall have received copies of the acquisition agreement and related Contractual Obligations and other documents (including financial 

  

					
		  	18	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
information and analysis, environmental assessments and reports, opinions, certificates and lien searches) and information reasonably requested by the
Administrative Agent and (c) as of the date of consummation of any transaction as part of such Proposed Acquisition and after giving effect to all transactions to occur on such date as part of such Proposed Acquisition, all conditions set forth
in clauses (i) and (ii) of Section 3.2(b) shall be satisfied or duly waived and, after giving effect to such Permitted Acquisition, the financial covenants set forth in Article V shall be complied with
on a Pro Forma Basis as of the last day of the last Fiscal Quarter for which Financial Statements have been delivered hereunder. 
 “Permitted Indebtedness” means any Indebtedness of any Group Member that is not prohibited by Section 8.1 or any other provision of any Loan Document. 
 “Permitted Investment” means any Investment of any Group Member that is not prohibited by Section 8.3 or any other provision
of any Loan Document. 
 “Permitted Lien” means any Lien on or with respect to the property of any Group Member that is not
prohibited by Section 8.2 or any other provision of any Loan Document. 
 “Permitted Refinancing” means
Indebtedness constituting a refinancing or extension of Permitted Indebtedness that (a) has an aggregate outstanding principal amount not greater than the aggregate principal amount of such Permitted Indebtedness outstanding at the time of such
refinancing or extension (plus reasonable fees and expenses payable in connection therewith), (b) has a weighted average maturity (measured as of the date of such refinancing or extension) and maturity no shorter than that of such Permitted
Indebtedness, (c) is not entered into as part of a Sale and Leaseback transaction, (d) is not secured by any property or any Lien other than those securing such Permitted Indebtedness (or, in the case of a refinancing or extension of the
Obligations or the First Lien Obligations, is secured by Liens that are senior or subordinated on terms substantially similar to those contained in the Intercreditor Agreement or otherwise reasonably satisfactory to the Administrative Agent) and
(e) is otherwise on terms no less favorable to the Group Members, taken as a whole, than those of such Permitted Indebtedness; provided, however, that, notwithstanding the foregoing, (x) the terms of such Permitted
Indebtedness may be modified as part of such Permitted Refinancing if such modification would have been permitted pursuant to Section 8.11 and (y) no Guaranty Obligation for such Indebtedness shall constitute part of such Permitted
Refinancing unless similar Guaranty Obligations with respect to such Permitted Indebtedness existed and constituted Permitted Indebtedness prior to such refinancing or extension. 
 “Permitted Reinvestment” means, with respect to the Net Cash Proceeds of any Sale or Property Loss Event, to acquire (or make Capital
Expenditures to finance the acquisition, repair, improvement or construction of), to the extent otherwise permitted hereunder, property useful in the business of the Borrower or any of its Subsidiaries (including through a Permitted Acquisition) or,
if such Property Loss Event involves loss or damage to property, to repair such loss or damage. 
 “Person” means any
individual, partnership, corporation (including a business trust and a public benefit corporation), joint stock company, estate, association, firm, enterprise, trust, limited liability company, unincorporated association, joint venture and any other
entity or Governmental Authority. 
  

					
		  	19	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Prepayment Fee” shall mean, with respect to (a) any prepayment of the Loans
pursuant to Section 2.7, Section 2.8(b)(ii) or Section 2.8(e) or (b) any sale and purchase of the Loans pursuant to Section 2.18, a fee equal to (i) 3.00% of the aggregate principal amount of
such prepayment or sale and purchase, as applicable, made on or prior to the second anniversary of the Closing Date, subject to Section 2.8(e) in connection with the prepayments thereunder, (ii) 2.00% of the aggregate principal
amount of such prepayment or sale and purchase, as applicable, made on or prior to the third anniversary of the Closing Date, but after the second anniversary of the Closing Date, and (iii) 1.00% of the aggregate principal amount of such
prepayment or sale and purchase, as applicable, made on or prior to the fourth anniversary of the Closing Date, but after the third anniversary of the Closing Date. 
 “Pro Forma Balance Sheet” has the meaning specified in Section 4.4(d). 
 “Pro Forma Basis” means, with respect to any determination for any period and any Pro Forma Transaction, that such determination shall be made by giving pro forma effect to each such Pro Forma Transaction, as if each
such Pro Forma Transaction had been consummated on the first day of such period, based on historical results accounted for in accordance with GAAP and, to the extent applicable, reasonable assumptions that are specified in detail in the relevant
Compliance Certificate, Financial Statement or other document provided to the Administrative Agent or any Lender in connection herewith in accordance with Regulation S-X of the Securities Act of 1933. 
 “Pro Forma Transaction” means any transaction consummated as part of the Related Transactions and any Permitted Acquisition, together
with each other transaction relating thereto and consummated in connection therewith, including any incurrence or repayment of Indebtedness. 
 “Projections” means, collectively, the Initial Projections and any document delivered pursuant to Section 6.1(f). 
 “Property Loss Event” means, with respect to any property, any loss of or damage to such property or any taking of such property or condemnation thereof. 
 “Proposed Acquisition” means (a) any proposed acquisition that is consensual and approved by the board of directors of such
Proposed Acquisition Target, of all or substantially all of the assets or Stock of any Proposed Acquisition Target by the Borrower or any Subsidiary of the Borrower (or by Holdings to the extent such assets and Stock are transferred to the Borrower
or any Subsidiary of the Borrower contemporaneously with such acquisition) or (b) any proposed merger of any Proposed Acquisition Target with or into the Borrower or any Subsidiary of the Borrower (and, in the case of a merger with the
Borrower, with the Borrower being the surviving corporation). 
 “Proposed Acquisition Target” means any Person or any
brand, line of business, division, branch, operating division or other unit operation of any Person. 
 “Pro Rata
Outstandings”, of any Lender at any time, means the outstanding principal amount of the Loans owing to such Lender. 
 “Pro
Rata Share” means, with respect to any Lender at any time, the percentage obtained by dividing (a) the sum of the Commitments (or, if such Commitments are terminated, the Pro Rata Outstandings therein) of such Lender then in effect by
(b) the sum of the Commitments (or, if such Commitments are terminated, the Pro Rata Outstandings therein) of all Lenders then in effect. 
  

					
		  	20	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Redemption Notices” means (a) the notice of redemption in respect of all the
Senior Notes, issued by the Parent in accordance with the requirements of the Senior Notes Indenture and (b) the notice of redemption in respect of all the Subordinated Notes, issued by the Parent in accordance with the requirements of the
Subordinated Notes Indenture. 
 “Register” has the meaning specified in Section 2.14(b). 
 “Reinvestment Prepayment Amount” means, with respect to any Net Cash Proceeds on the Reinvestment Prepayment Date therefor, the amount
of such Net Cash Proceeds less any amount paid or required to be paid by any Group Member to make Permitted Reinvestments with such Net Cash Proceeds pursuant to a Contractual Obligation entered into prior to such Reinvestment Prepayment Date
with any Person that is not an Affiliate of the Borrower. 
 “Reinvestment
Prepayment Date” means, with respect to any portion of any Net Cash Proceeds of any Sale or Property Loss Event, the earliest of (a) the 180th day after the completion of the portion of such Sale or Property Loss Event corresponding to such Net Cash Proceeds, (b) the date that is 5 Business Days after the date on which the Borrower
shall have notified the Administrative Agent of the Borrower’s determination not to make Permitted Reinvestments with such Net Cash Proceeds, and (c) the occurrence of any Event of Default. 
 “Related Documents” means, collectively, the First Lien Loan Documents, the Redemption Notices, the payoff letter with respect to the
Existing Credit Agreement executed and delivered to the Administrative Agent in connection with Section 3.1(f) and each other document executed with respect to any of the foregoing or any Related Transaction. 
 “Related Person” means, with respect to any Person, each Affiliate of such Person and each director, officer, employee, agent, trustee,
representative, attorney, accountant and each insurance, environmental, legal, financial and other advisor (including those retained in connection with the satisfaction or attempted satisfaction of any condition set forth in Article III)
and other consultants and agents of or to such Person or any of its Affiliates, together with, if such Person is an Agent, each other Person or individual designated, nominated or otherwise mandated by or helping such Agent pursuant to and in
accordance with Section 10.4 or any comparable provision of any Loan Document. 
 “Related Transactions” means,
collectively, the First Lien Facilities, the redemption of all of the Senior Notes and all of the Subordinated Notes, the refinancing of the Existing Credit Agreement, the execution and delivery of all Related Documents and the payment of all
related fees, costs and expenses. 
 “Release” means any release, threatened release, spill, emission, leaking, pumping,
pouring, emitting, emptying, escape, injection, deposit, disposal, discharge, dispersal, dumping, leaching or migration of Hazardous Material into or through the environment. 
 “Remedial Action” means all actions required to (a) clean up, remove, treat or in any other way address any Hazardous Material in
the indoor or outdoor environment, (b) prevent or minimize any Release so that a Hazardous Material does not migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor environment or (c) perform
pre-remedial studies and investigations and post-remedial monitoring and care with respect to any Hazardous Material. 
  

					
		  	21	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Required Lenders” means, at any time, Lenders having at such time in excess of 50% of
the aggregate Commitments (or, if such Commitments are terminated, the Pro Rata Outstandings in the Facility) then in effect, ignoring, in such calculation, the amounts held by any Non-Funding Lender. 
 “Requirements of Law” means, with respect to any Person, collectively, the common law and all federal, state, local, foreign,
multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the
interpretation or administration thereof by, and other determinations, directives, requirements or requests of, any Governmental Authority, in each case whether or not having the force of law and that are applicable to or binding upon such Person or
any of its property or to which such Person or any of its property is subject. 
 “Responsible Officer” means, with respect
to any Person, any of the president, chief executive officer, treasurer, assistant treasurer, controller, managing member or general partner of such Person but, in any event, with respect to financial matters, any such officer that is responsible
for preparing the Financial Statements delivered hereunder and, with respect to the Corporate Chart and other documents delivered pursuant to Section 6.1(e), documents delivered on the Closing Date and documents delivered pursuant to
Section 7.10, the secretary or assistant secretary of such Person or any other officer responsible for maintaining the corporate and similar records of such Person. 
 “Restricted Payment” means (a) any dividend, return of capital, distribution or any other payment or Sale of property for less than
fair market value, whether direct or indirect (including through the use of Hedging Agreements, the making, repayment, cancellation or forgiveness of Indebtedness and similar Contractual Obligations) and whether in cash, Securities or other
property, on account of any Stock or Stock Equivalent of the Borrower or any of its Subsidiaries, in each case now or hereafter outstanding, including with respect to a claim for rescission of a Sale of such Stock or Stock Equivalent and
(b) any redemption, retirement, termination, defeasance, cancellation, purchase or other acquisition for value, whether direct or indirect (including through the use of Hedging Agreements, the making, repayment, cancellation or forgiveness of
Indebtedness and similar Contractual Obligations), of any Stock or Stock Equivalent of any Group Member or of any direct or indirect parent entity of the Borrower, now or hereafter outstanding, and any payment or other transfer setting aside funds
for any such redemption, retirement, termination, cancellation, purchase or other acquisition, whether directly or indirectly and whether to a sinking fund, a similar fund or otherwise. 
 “S&P” means Standard & Poor’s Rating Services. 
 “Sale and Leaseback Transaction” means, with respect to any Person (the “obligor”), any Contractual Obligation or other
arrangement with any other Person (the “counterparty”) consisting of a lease by such obligor of any property that, directly or indirectly, has been or is to be Sold by the obligor to such counterparty or to any other Person to whom
funds have been advanced by such counterparty based on a Lien on, or an assignment of, such property or any obligations of such obligor under such lease. 
  

					
		  	22	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Secured Parties” means the Lenders, the Administrative Agent, the Collateral Agent,
each other Indemnitee and any other holder of any Obligation of any Loan Party. 
 “Security” means all Stock, Stock
Equivalents, voting trust certificates, bonds, debentures, instruments and other evidence of Indebtedness, whether or not secured, convertible or subordinated, all certificates of interest, share or participation in, all certificates for the
acquisition of, and all warrants, options and other rights to acquire, any Security. 
 “Sell” means, with respect to any
property, to sell, convey, transfer, assign, license, lease or otherwise dispose of, any interest therein or to permit any Person to acquire any such interest, including, in each case, through a Sale and Leaseback Transaction or through a sale,
factoring at maturity, collection of or other disposal, with or without recourse, of any notes or accounts receivable. Conjugated forms thereof and the noun “Sale” have correlative meanings. 
 “Senior Notes” means the 11% Senior Notes due June 15, 2010, issued by the Parent and governed by the terms of the Senior Notes
Indenture. 
 “Senior Notes Indenture” means the Indenture, dated as of July 1, 2003, between the Borrower and the
Senior Notes Trustee. 
 “Senior Notes Trustee” means HSBC Bank USA, as trustee under the Senior Notes Indenture.

 “Solvent” means, with respect to any Person as of any date of determination, that, as of such date, (a) the value of
the assets of such Person (both at fair value and present fair saleable value) is greater than the total amount of liabilities (including contingent and unliquidated liabilities) of such Person, (b) such Person is able to pay all liabilities of
such Person as such liabilities mature and (c) such Person does not have unreasonably small capital. In computing the amount of contingent or unliquidated liabilities at any time, such liabilities shall be computed at 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. 
 “SPV” means any special purpose funding vehicle identified as such in a writing by any Lender to the Administrative Agent. 
 “Stock” means all shares of capital stock (whether denominated as common stock or preferred stock), equity interests, beneficial,
partnership or membership interests, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual), whether voting or non-voting.

 “Stock Equivalents” means all securities convertible into or exchangeable for Stock or any other Stock Equivalent and all
warrants, options or other rights to purchase, subscribe for or otherwise acquire any Stock or any other Stock Equivalent, whether or not presently convertible, exchangeable or exercisable. 
 “Subordinated Debt” means any Indebtedness that is subordinated to the payment in full of the Obligations on terms and conditions
satisfactory to the Administrative Agent. 
 “Subordinated Notes” means the 10% Senior Subordinated Notes due April 1,
2008, issued by the Borrower and governed by the terms of the Subordinated Notes Indenture. 
  

					
		  	23	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Subordinated Notes Indenture” means the Indenture, dated as of April 1, 2001,
between the Borrower and the Subordinated Notes Trustee. 
 “Subordinated Notes Trustee” means HSBC Bank USA, as trustee
under the Subordinated Notes Indenture. 
 “Subsidiary” means, with respect to any Person, any corporation, partnership,
joint venture, limited liability company, association or other entity, the management of which is, directly or indirectly, controlled by, or of which an aggregate of more than 50% of the outstanding Voting Stock is, at the time, owned or controlled
directly or indirectly by, such Person or one or more Subsidiaries of such Person. 
 “Substitute Lender” has the meaning
specified in Section 2.18(a). 
 “SWDA” means the Solid Waste Disposal Act (42 U.S.C. §§ 6901 et
seq.). 
 “Tax Affiliate” means, (a) the Borrower and its Subsidiaries and (b) any Affiliate of the Borrower with
which the Borrower files or is eligible to file consolidated, combined or unitary tax returns. 
 “Tax Return” has the
meaning specified in Section 4.8. 
 “Taxes” has the meaning specified in Section 2.17(a).

 “Title IV Plan” means a Benefit Plan that is a pension plan subject to Title IV of ERISA, other than a Multiemployer
Plan. 
 “Trademarks” means all rights, title and interests (and all related IP Ancillary Rights) arising under any
Requirement of Law in or relating to trademarks, trade names, corporate names, company names, business names, fictitious business names, trade styles, service marks, logos and other source or business identifiers and, in each case, all goodwill
associated therewith, all registrations and recordations thereof and all applications in connection therewith. 
 “Trade
Secrets” means all right, title and interest (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to trade secrets. 
 “Transitional Parent” means a Delaware corporation that is a Loan Party, which shall be the surviving or continuing entity after the consummation of a transaction between such corporation and Danka
Business Systems PLC permitted under Section 8.7. 
 “UCC” means the Uniform Commercial Code of any applicable
jurisdiction and, if the applicable jurisdiction shall not have any Uniform Commercial Code, the Uniform Commercial Code as in effect in the State of New York. 
 “United States” means the United States of America. 
 “U.S. Lender Party”
means each Agent, each Lender, each SPV and each participant, in each case that is a Domestic Person. 
  

					
		  	24	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 “Voting Stock” means Stock of any Person having ordinary power to vote in the election
of members of the board of directors, managers, trustees or other controlling Persons, of such Person (irrespective of whether, at the time, Stock of any other class or classes of such entity shall have or might have voting power by reason of the
occurrence of any contingency). 
 “Wholly Owned Subsidiary” of any Person means any Subsidiary of such Person, all of the
Stock of which (other than nominal holdings and director’s qualifying shares) is owned by such Person, either directly or through one or more Wholly Owned Subsidiaries of such Person. 
 “Withdrawal Liability” means, at any time, any liability incurred (whether or not assessed) by any ERISA Affiliate that has yet been
satisfied or paid in full at such time with respect to any Multiemployer Plan pursuant to Section 4201 of ERISA. 
 “Working
Capital” means, for any Person at any date, its Consolidated Current Assets at such date minus its Consolidated Current Liabilities at such date. 
 Section 1.2 UCC Terms. The following terms have the meanings given to them in the applicable UCC: “commodity account”, “commodity contract”, “commodity
intermediary”, “deposit account”, “entitlement holder”, “entitlement order”, “equipment”, “property, plant and equipment”, “financial
asset”, “general intangible”, “goods”, “instruments”, “inventory”, “securities account”, “securities intermediary” and “security
entitlement”. 
 Section 1.3 Accounting Terms and Principles. (a) GAAP. All accounting determinations
required to be made pursuant hereto shall, unless expressly otherwise provided herein, be made in accordance with GAAP. No change in the accounting principles used in the preparation of any Financial Statement hereafter adopted by Parent or Holdings
shall be given effect if such change would affect a calculation that measures compliance with any provision of Article V or VIII unless the Borrower, the Administrative Agent and the Required Lenders agree to modify such
provisions to reflect such changes in GAAP (such agreement to be negotiated in good faith) and, unless such provisions are modified, all Financial Statements, Compliance Certificates and similar documents provided hereunder shall be provided
together with a reconciliation between the calculations and amounts set forth therein before and after giving effect to such change in GAAP. 
 (b) Pro Forma. All components of financial calculations made to determine compliance with Article V shall be adjusted on a Pro Forma Basis to include or exclude, as the case may be, without duplication, such components of
such calculations attributable to any Pro Forma Transaction consummated after the first day of the applicable period of determination and prior to the end of such period, as determined in good faith by the Borrower based on assumptions expressed
therein and that were reasonable based on the information available to the Borrower at the time of preparation of the Compliance Certificate setting forth such calculations. 
 Section 1.4 Payments. The Administrative Agent may set up standards and procedures to determine or redetermine the equivalent in Dollars of
any amount expressed in any currency other than Dollars and otherwise may, but shall not be obligated to, rely on any determination made by any Loan Party. Any such determination or redetermination by the Administrative Agent shall be conclusive and
binding for all purposes, absent manifest error. No determination or redetermination by any Secured Party or Loan Party and no other currency conversion shall change or release any obligation of any Loan Party or of any Secured Party (other than the
Administrative Agent and its Related Persons) under any Loan Document, each of 

  

					
		  	25	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
which agrees to pay separately for any shortfall remaining after any conversion and payment of the amount as converted. The Administrative Agent may round up
or down, and may set up appropriate mechanisms to round up or down, any amount hereunder to nearest higher or lower amounts and may determine reasonable de minimis payment thresholds. 
 Section 1.5 Interpretation. (a) Certain Terms. Except as set forth in any Loan Document, all accounting terms not specifically
defined herein shall be construed in accordance with GAAP (except for the term “property” and “property, plant and equipment”, which shall be interpreted as broadly as possible, including, in any case, cash,
Securities, other assets, rights under Contractual Obligations and Permits and any right or interest in any property). The terms “herein”, “hereof” and similar terms refer to this Agreement as a whole. In the
computation of periods of time from a specified date to a later specified date in any Loan Document, the terms “from” means “from and including” and the words “to” and “until” each
mean “to but excluding” and the word “through” means “to and including.” In any other case, the term “including” when used in any Loan Document means “including without
limitation.” The term “documents” means all writings, however evidenced and whether in physical or electronic form, including all documents, instruments, agreements, notices, demands, certificates, forms, financial
statements, opinions and reports. The term “incur” means incur, create, make, issue, assume or otherwise become directly or indirectly liable in respect of or responsible for, in each case whether directly or indirectly, and the
terms “incurrence” and “incurred” and similar derivatives shall have correlative meanings. 
 (b)
Certain References. Unless otherwise expressly indicated, references (i) in this Agreement to an Exhibit, Schedule, Article, Section or clause refer to the appropriate Exhibit or Schedule to, or Article, Section or clause in, this
Agreement and (ii) in any Loan Document, to (A) any agreement shall include, without limitation, all exhibits, schedules, appendixes and annexes to such agreement and, unless the prior consent of any Secured Party required therefor is not
obtained, any modification to any term of such agreement, (B) any statute shall be to such statute as modified from time to time and to any successor legislation thereto, in each case as in effect at the time any such reference is operative and
(C) any time of day shall be a reference to New York time. Titles of articles, sections, clauses, exhibits, schedules and annexes contained in any Loan Document are without substantive meaning or content of any kind whatsoever and are not a
part of the agreement between the parties hereto. Unless otherwise expressly indicated, the meaning of any term defined (including by reference) in any Loan Document shall be equally applicable to both the singular and plural forms of such term.

 ARTICLE 2 
 THE FACILITY

 Section 2.1 The Commitments. (a) On the terms and subject to the conditions contained in this Agreement, each Lender
severally, but not jointly, agrees to make loans in Dollars (each a “Loan”) to the Borrower on the Closing Date in an amount not to exceed such Lender’s Commitment. Amounts of Loans repaid or prepaid may not be reborrowed.

 Section 2.2 Borrowing Procedures. (a) Notice From the Borrower. The Borrowing shall be made on notice given by
the Borrower to the Administrative Agent not later than 11:00 a.m. on (i) the first Business Date, in the case of a Borrowing of Base Rate Loans and (ii) the third Business Day, in the case of a Borrowing of Eurodollar Rate Loans,
prior to the date of the Closing Date. Each such notice may be made in a writing substantially in the form of Exhibit C (the “Notice of Borrowing”) duly completed or by telephone if confirmed promptly, 

  

					
		  	26	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
but in any event within one Business Day and prior to such Borrowing, with such a Notice of Borrowing. Loans shall be made as Base Rate Loans unless, outside
of a suspension period pursuant to Section 2.15, the Notice of Borrowing specifies that all or a portion thereof shall be Eurodollar Rate Loans. 
 (b) Notice to Each Lender. The Administrative Agent shall give to each Lender prompt notice of the Administrative Agent’s receipt of the Notice of Borrowing and, if Eurodollar Rate Loans are properly
requested in such Notice of Borrowing, prompt notice of the applicable interest rate. Each Lender shall, before 11:00 a.m. on the Closing Date, make available to the Administrative Agent at its address referred to in Section 11.11,
such Lender’s Pro Rata Share of such proposed Borrowing. Upon fulfillment or due waiver (i) on the Closing Date, of the applicable conditions set forth in Section 3.1 and (ii) on the Closing Date and any time thereafter,
of the applicable conditions set forth in Section 3.2, the Administrative Agent shall make such funds available to the Borrower. 
 (c) Non-Funding Lenders. Unless the Administrative Agent shall have received notice from any Lender prior to the Closing Date that such Lender will not make such payment (or any portion thereof) available to the Administrative Agent,
the Administrative Agent may assume that such Lender has made such payment available to the Administrative Agent on the date such payment is required to be made in accordance with this Article II and the Administrative Agent may, in
reliance upon such assumption, make available to the Borrower on such date a corresponding amount. The Borrower agrees to repay to the Administrative Agent on demand such amount (until repaid by such Lender) with interest thereon for each day from
the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the interest rate applicable to the Obligation that would have been created when the Administrative Agent made available such
amount to the Borrower had such Lender made a corresponding payment available; provided, however, that such payment shall not relieve such Lender of any obligation it may have to the Borrower. In addition, any Lender that shall not
have made available to the Administrative Agent any portion of any payment described above (any such Lender, a “Non-Funding Lender”) agrees to pay such amount to the Administrative Agent on demand together with interest thereon, for
each day from the date such amount is made available to the Borrower until the date such amount is repaid to the Administrative Agent, at the Federal Funds Rate for the first Business Day and thereafter (i) in the case of a payment in respect
of a Loan, at the interest rate applicable at the time to such Loan and (ii) otherwise, at the interest rate applicable to Base Rate Loans under the Facility. Such repayment shall then constitute the funding of the corresponding Loan (including
any Loan deemed to have been made hereunder with such payment) or participation. The existence of any Non-Funding Lender shall not relieve any other Lender of its obligations under any Loan Document, but no other Lender shall be responsible for the
failure of any Non-Funding Lender to make any payment required under any Loan Document. 
 Section 2.3 [RESERVED]. 

Section 2.4 [RESERVED]. 
 Section 2.5 Termination of the Commitments. After giving effect to the Loans made on the Closing Date, any unused Commitment shall terminate on the Closing Date. 
 Section 2.6 Repayment of Loans. The Borrower promises to repay the Loans on the Final Maturity Date. 
  

					
		  	27	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 2.7 Optional Prepayments. The Loans may not be optionally prepaid at any time prior
to the first anniversary of the Closing Date; provided, however, that the Borrower may prepay up to $5,000,000 of the outstanding principal amount of the Loans on or prior to the first anniversary of the Closing Date. Following the
first anniversary of the Closing Date, the Borrower may prepay the outstanding principal amount of the Loans in whole or in part at any time (together with any breakage costs that may be owing pursuant to Section 2.16(a) after giving
effect to such prepayment); provided, however, that (a) each partial prepayment that is not of the entire outstanding amount under the Facility shall be in an aggregate amount that is an integral multiple of $1,000,000 and
(b) no prepayment of the Loans under this Section 2.7 shall be permitted unless accompanied by the Prepayment Fee, if any, applicable thereto. 
 Section 2.8 Mandatory Prepayments. (a) Excess Cash Flow. The Borrower shall pay or cause to be paid to the Administrative Agent, in each case to the extent such amounts are not required to
prepay or cash collateralize the First Lien Obligations under the First Lien Credit Agreement, within 5 Business Days after the last date Financial Statements can be delivered pursuant to Section 6.1(c) for any Fiscal Year ending after
the Closing Date, an amount equal to 50% of the Excess Cash Flow for such Fiscal Year; provided, however, that should the Consolidated Leverage Ratio of Parent on the last day of such Fiscal Year be less than 2 to one, such percentage
shall be reduced to 25%. 
 (b) Equity and Debt Issuances. Upon receipt on or after the Closing Date by any Loan Party or any
of its Subsidiaries of Net Cash Proceeds arising from (i) the issuance or Sale by Holdings or the Parent of its own Stock (other than (x) any issuance of common Stock by the Parent to the extent the proceeds thereof are used to redeem all
or any portion of the outstanding Convertible Participating Shares of the Parent in a single transaction, and (y) any issuance of common Stock of Holdings or the Parent occurring in the ordinary course of business to any director, member of the
management or employee of the Borrower or its Subsidiaries), the Borrower shall, in each case to the extent such amounts are not required to prepay or cash collateralize the First Lien Obligations under the First Lien Credit Agreement, within 1
Business Day, pay or cause to be paid to the Administrative Agent an amount equal to 100% of such Net Cash Proceeds or (ii) the incurrence by any Loan Party or any of its Subsidiaries of Indebtedness of the type specified in clause
(a) or (b) of the definition thereof (other than any such Indebtedness permitted under Section 8.1 as amended from time to time), the Borrower shall, in each case to the extent such amounts are not required to prepay
or cash collateralize the First Lien Obligations under the First Lien Credit Agreement, within 1 Business Day, pay or cause to be paid to the Administrative Agent an amount equal to 100% of such Net Cash Proceeds, together with any Prepayment Fee
applicable thereto. 
 (c) Asset Sales and Property Loss Events. Upon receipt on or after the Closing Date by any Loan Party or
any of its Subsidiaries of Net Cash Proceeds arising from (i) any Sale by any Group Member of any of its property other than Sales of its own Stock and Sales of property permitted hereunder in reliance upon any of clauses
(a) through (e) of Section 8.4 or (ii) any Property Loss Event with respect to any property of any Group Member to the extent resulting, in the aggregate with all other such Property Loss Events, in the receipt
by any of them of Net Cash Proceeds in excess of $1,000,000, the Borrower shall, in each case to the extent such amounts are not required to prepay or cash collateralize the First Lien Obligations under the First Lien Credit Agreement, within 3
Business Days pay or cause to be paid to the Administrative Agent an amount equal to 100% of such Net Cash Proceeds; provided, however, that, upon any such receipt, as long as no Event of Default shall then be continuing, any Group

  

					
		  	28	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
Member may make Permitted Reinvestments with such Net Cash Proceeds and the Borrower shall not be required to make or cause such payment to the extent
(x) such Net Cash Proceeds are intended to be used to make Permitted Reinvestments and (y) on each Reinvestment Prepayment Date for such Net Cash Proceeds, the Borrower shall, in each case to the extent such amounts are not required to
prepay or cash collateralize the First Lien Obligations under the First Lien Credit Agreement, pay or cause to be paid to the Administrative Agent an amount equal to the Reinvestment Prepayment Amount applicable to such Reinvestment Prepayment Date
and such Net Cash Proceeds. 
 (d) Cash Collateral. Upon receipt on or after the Closing Date by any Group Member of any portion of
the cash collateral deposited at Bank of America, N.A. pursuant to that certain Cash Collateral Account Agreement, dated as of January 27, 2007, between the Parent and Bank of America, N.A., the Borrower shall within 1 Business Day pay or cause
to be paid any obligations or other liabilities that are overdue to any of Canon U.S.A., Inc., Hewlett-Packard Company, Toshiba America Information Systems, Inc. or their respective subsidiaries or affiliates up to the amount of such cash collateral
that has been received; provided that the remainder of such cash collateral not required to be applied pursuant to this Section 2.8(d) may be retained by the Borrower. 
 (e) Change of Control. In the event that the Loans are prepaid pursuant to a Change of Control, then the Borrower shall pay to the Administrative
Agent an amount equal to the entire principal balance of the Loans plus (i) if such prepayment occurs on or prior to the first anniversary of the Closing Date, an amount equal to (1) the aggregate amount of interest (including,
without limitation, interest payable in cash, in kind or deferred) which would have otherwise been payable on the amount of the principal prepayment from the date of prepayment until the first anniversary of the Closing Date, plus
(2) the Prepayment Fee, minus (3) the aggregate amount of interest Lenders would earn if the prepaid principal amount were reinvested for the period from the date of prepayment or reduction until the first anniversary of the Closing
Date at the Treasury Rate plus 0.50%; and (ii) if such prepayment occurs after the first anniversary of the Closing Date, the Prepayment Fee applicable thereto. For purposes of the foregoing, the term “Treasury Rate”
shall mean a rate per annum (computed on the basis of actual days elapsed over a year of 360 days) equal to the rate determined by Administrative Agent on the date three (3) Business Days prior to the date of prepayment, to be the yield
expressed as a rate listed in The Wall Street Journal for United States Treasury securities having a term of not greater than thirty-six (36) months. 
 (f) Application of Payments. Any payments made to the Administrative Agent pursuant to this Section 2.8 shall be applied to the Obligations in accordance with Section 2.12(b).

 Section 2.9 Interest. (a) Rate. All Loans and the outstanding amount of all other Obligations shall bear
interest, in the case of Loans, on the unpaid principal amount thereof from the date such Loans are made and, in the case of such other Obligations, from the date such other Obligations are due and payable until, in all cases, paid in full, except
as otherwise provided in clause (c) below, as follows: (i) in the case of Base Rate Loans, at a rate per annum equal to the sum of the Base Rate and the Applicable Margin, each as in effect from time to time, (ii) in the case
of Eurodollar Rate Loans, at a rate per annum equal to the sum of the Eurodollar Rate and the Applicable Margin, each as in effect for the applicable Interest Period, and (iii) in the case of other Obligations, at a rate per annum equal to the
sum of the Base Rate and the Applicable Margin, each as in effect from time to time. 
  

					
		  	29	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (b) Payments. Interest accrued shall be payable in arrears (i) if accrued on the principal
amount of any Loan, (A) at maturity (whether by acceleration or otherwise), (B) upon the payment or prepayment of the principal amount on which such interest has accrued and (C)(1) if such Loan is a Base Rate Loan, on the last day of each
calendar month commencing on the first such day following the making of such Loan, (2) if such Loan is a Eurodollar Rate Loan, on the last day of each Interest Period applicable to such Loan and, if applicable, on each date during such Interest
Period occurring every 3 months from the first day of such Interest Period and (ii) if accrued on any other Obligation, on demand from any after the time such Obligation is due and payable (whether by acceleration or otherwise). Notwithstanding
any of the foregoing to the contrary, the interest payable pursuant this Section 2.9(b) may be paid-in-kind by capitalizing the interest otherwise due and adding such amount to the principal balance of the Loans if the Borrower elects to
do so upon five (5) Business Days written notice to the Administrative Agent of its election to do so prior to the payment date; provided, that (i) Borrower may elect to capitalize such interest no more than two Fiscal Quarters in
any consecutive four Fiscal Quarter period; and (ii) if the Borrower elects to capitalize such interest, the “Applicable Margin” otherwise applicable to the interest paid on the Loans to which such capitalized interest payment relates
shall be increased for such calendar month or interest period, as the case may be, by an additional 1.25%. Any amounts added to the principal balance of the Loans pursuant to this Section 2.9(b) shall be deemed to be
“Obligations” for all purposes of this Agreement and the other Loan Documents. 
 (c) Default Interest. Notwithstanding the
rates of interest specified in clause (a) above or elsewhere in any Loan Document, effective immediately upon (A) the occurrence of any Event of Default under Section 9.1(e)(ii) or (B) the delivery of a notice by
the Administrative Agent or the Required Lenders to the Borrower during the continuance of any other Event of Default and, in each case, for as long as such Event of Default shall be continuing, the principal balance of all Obligations (including
any Obligation that bears interest by reference to the rate applicable to any other Obligation) then due and payable shall bear interest at a rate that is 2% per annum in excess of the interest rate applicable to such Obligations from time to
time, payable on demand or, in the absence of demand, on the date that would otherwise be applicable. 
 Section 2.10 Conversion
and Continuation Options. (a) Option. The Borrower may elect (i) in the case of any Eurodollar Rate Loan, (A) to continue such Eurodollar Rate Loan or any portion thereof for an additional Interest Period on the last day of
the Interest Period applicable thereto and (B) to convert such Eurodollar Rate Loan or any portion thereof into a Base Rate Loan at any time on any Business Day, subject to the payment of any breakage costs required by
Section 2.16(a), and (ii) in the case of Base Rate Loans, to convert such Base Rate Loans or any portion thereof into Eurodollar Rate Loans at any time on any Business Day upon 3 Business Days’ prior notice; provided,
however, that, (x) for each Interest Period, the aggregate amount of Eurodollar Rate Loans having such Interest Period must be an integral multiple of $1,000,000 and (y) no conversion in whole or in part of Base Rate Loans to
Eurodollar Rate Loans and no continuation in whole or in part of Eurodollar Rate Loans shall be permitted at any time at which (1) an Event of Default shall be continuing and the Administrative Agent or the Required Lenders shall have
determined in their sole discretion not to permit such conversions or continuations or (2) such continuation or conversion would be made during a suspension imposed by Section 2.15. 
  

					
		  	30	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (b) Procedure. Each such election shall be made by giving the Administrative Agent at least 3
Business Days’ (1 Business Day in the case of conversion to Base Rate Loans) prior notice in substantially the form of Exhibit F (a “Notice of Conversion or Continuation”) duly completed. The Administrative Agent
shall promptly notify each Lender of its receipt of a Notice of Conversion or Continuation and of the options selected therein. If the Administrative Agent does not receive a timely Notice of Conversion or Continuation from the Borrower containing a
permitted election to continue or convert any Eurodollar Rate Loan, then, upon the expiration of the applicable Interest Period, such Loan shall be automatically converted to a Base Rate Loan. Each partial conversion or continuation shall be
allocated ratably among the Lenders in the applicable Facility in accordance with their Pro Rata Share. 
 Section 2.11 Fees.
The Borrower shall pay to the Administrative Agent and its Related Persons such fees as set forth in the Fee Letter. 
 Section 2.12
Application of Payments. (a) Unless otherwise provided in this Section 2.12 or elsewhere in any Loan Document, all payments and any other amounts received by the Administrative Agent from or for the benefit of the Borrower
shall be applied to reduce the remaining outstanding principal amounts under the Facility. 
 (b) Application of Mandatory
Prepayments. Subject to the provisions of clause (c) below with respect to the application of payments during the continuance of an Event of Default, any payment made by the Borrower to the Administrative Agent pursuant to
Section 2.8 or any other prepayment of the Obligations required to be applied in accordance with this clause (b) shall be applied to reduce the remaining outstanding principal amounts under the Facility. 
 (c) Application of Payments During an Event of Default. Each of Holdings and the Borrower hereby irrevocably waives, and agrees to cause each Loan
Party and each other Group Member to waive, the right to direct the application during the continuance of an Event of Default of any and all payments in respect of any Obligation and any proceeds of Collateral and agrees that, notwithstanding the
provisions of clause (a) above, the Agents may, and, upon either (A) the direction of the Required Lenders or (B) the termination of any Commitment or the acceleration of any Obligation pursuant to Section 9.2,
shall, subject to the terms of the Intercreditor Agreement, apply all payments in respect of any Obligation, all funds on deposit in any Cash Collateral Account and all other proceeds of Collateral (i) first, to pay Obligations in
respect of any cost or expense reimbursements, fees or indemnities then due to any Agent, (ii) second, to pay Obligations in respect of any cost or expense reimbursements, fees or indemnities then due to the Lenders,
(iii) third, to pay interest then due and payable in respect of the Loans, (iv) fourth, to repay the outstanding principal amounts of the Loans and (v) fifth, to the ratable payment of all other Obligations.

 Section 2.13 Payments and Computations. (a) Procedure. The Borrower shall make each payment under any Loan
Document not later than 1:00 p.m. on the day when due to the Administrative Agent by wire transfer to the following account (or at such other account or by such other means to such other address as the Administrative Agent shall have notified
the Borrower in writing within a reasonable time prior to such payment) in immediately available Dollars and without setoff or counterclaim: 
  

					
		  	31	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

			
	Name:	  	General Electric Capital Corporation
	Bank:	  	DeutscheBank Trust Company Americas
		  	New York, New York
	ABA #:	  	021-001-033
	Account #:	  	50279513
	Account Name:	  	GECC-CFS CIF Collection Account
	Reference:	  	CFN8759 (Danka Office Imaging Company)

 The Administrative Agent shall promptly thereafter cause to be distributed immediately available funds relating to
the payment of principal, interest or fees to the Lenders, in accordance with the application of payments set forth in Section 2.12. The Lenders shall make any payment under any Loan Document in immediately available Dollars and without
setoff or counterclaim. Payments received by the Administrative Agent after 1:00 p.m. shall be deemed to be received on the next Business Day. 
 (b) Computations of Interests and Fees. All computations of interest and of fees shall be made by the Administrative Agent on the basis of a year of 360 days (or, in the case of Base Rate Loans whose interest rate is calculated based
on the rate set forth in clause (a) of the definition of “Base Rate”, 365/366 days), in each case for the actual number of days (including the first day but excluding the last day) occurring in the period for which such
interest and fees are payable. Each determination of an interest rate or the amount of a fee hereunder shall be made by the Administrative Agent (including determinations of a Eurodollar Rate or Base Rate in accordance with the definitions of
“Eurodollar Rate” and “Base Rate”, respectively) and shall be conclusive, binding and final for all purposes, absent manifest error. 
 (c) Payment Dates. Whenever any payment hereunder shall be stated to be due on a day other than a Business Day, the due date for such payment shall be extended to the next succeeding Business Day without any
increase in such payment as a result of additional interest or fees; provided, however, that such interest and fees shall continue accruing as a result of such extension of time. 
 (d) Advancing Payments. Unless the Administrative Agent shall have received notice from the Borrower to the Lenders prior to the date on which any
payment is due hereunder that the Borrower will not make such payment in full, the Administrative Agent may assume that the Borrower has made such payment in full to the Administrative Agent on such date and the Administrative Agent may, in reliance
upon such assumption, cause to be distributed to each Lender on such due date an amount equal to the amount then due such Lender. If and to the extent that the Borrower shall not have made such payment in full to the Administrative Agent, each
Lender shall repay to the Administrative Agent on demand such amount distributed to such Lender together with interest thereon (at the Federal Funds Rate for the first Business Day and thereafter, at the rate applicable to Base Rate Loans under the
applicable Facility) for each day from the date such amount is distributed to such Lender until the date such Lender repays such amount to the Administrative Agent. 
 Section 2.14 Evidence of Debt. (a) Records of Lenders. Each Lender shall maintain in accordance with its usual practice accounts evidencing Indebtedness of the Borrower to such Lender
resulting from each Loan of such Lender from time to time, including the amounts of principal and interest payable and paid to such Lender from time to time under this Agreement. In addition, each Lender having sold a participation in any of its
Obligations or having identified an SPV as such to the Administrative Agent, acting as agent of the Borrower solely for this purpose and solely for tax purposes, shall establish and maintain at its address referred to in Section 11.11
(or at such other address as such Lender shall notify the Borrower) a record of 

  

					
		  	32	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
ownership, in which such Lender shall register by book entry (A) the name and address of each such participant and SPV (and each change thereto, whether
by assignment or otherwise) and (B) the rights, interest or obligation of each such participant and SPV in any Obligation, in any Commitment and in any right to receive any payment hereunder. 
 (b) Records of Administrative Agent. The Administrative Agent, acting as agent of the Borrower solely for tax purposes and solely with respect to
the actions described in this Section 2.14, shall establish and maintain at its address referred to in Section 11.11 (or at such other address as the Administrative Agent may notify the Borrower) (A) a record of
ownership (the “Register”) in which the Administrative Agent agrees to register by book entry the interests (including any rights to receive payment hereunder) of the Administrative Agent and each Lender, each of their obligations
under this Agreement to participate in the Loans, and any assignment of any such interest, obligation or right and (B) accounts in the Register in accordance with its usual practice in which it shall record (1) the names and addresses of
the Lenders (and each change thereto pursuant to Section 2.18 (Substitution of Lenders) and Section 11.2 (Assignments and Participations; Binding Effect)), (2) the Commitments of each Lender, (3) the
amount of each Loan and each funding of any participation described in clause (A) above, for Eurodollar Rate Loans, the Interest Period applicable thereto, (4) the amount of any principal or interest due and payable or paid, and
(5) any other payment received by the Administrative Agent from the Borrower and its application to the Obligations. 
 (c)
Registered Obligations. Notwithstanding anything to the contrary contained in this Agreement, the Loans (including any Notes evidencing such Loans) are registered obligations, the right, title and interest of the Lenders and their assignees
in and to such Loans, shall be transferable only upon notation of such transfer in the Register and no assignment thereof shall be effective until recorded therein. This Section 2.14 and Section 11.2 shall be construed so
that the Loans are at all times maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code and any related regulations (and any successor provisions). 
 (d) Prima Facie Evidence. The entries made in the Register and in the accounts maintained pursuant to clauses (a) and
(b) above shall, to the extent permitted by applicable Requirements of Law, be prima facie evidence of the existence and amounts of the obligations recorded therein; provided, however, that no error in such account and no
failure of any Lender or the Administrative Agent to maintain any such account shall affect the obligations of any Loan Party to repay the Loans in accordance with their terms. In addition, the Loan Parties, the Administrative Agent and the Lenders
shall treat each Person whose name is recorded in the Register as a Lender for all purposes of this Agreement. Information contained in the Register with respect to any Lender shall be available for access by the Borrower, the Administrative Agent,
or such Lender at any reasonable time and from time to time upon reasonable prior notice. No Lender shall, in such capacity, have access to or be otherwise permitted to review any information in the Register other than information with respect to
such Lender unless otherwise agreed by the Administrative Agent. 
 (e) Notes. Upon any Lender’s request, the Borrower shall
promptly execute and deliver Notes to such Lender evidencing the Loans of such Lender in the Facility and substantially in the form of Exhibit B; provided, however, that only one Note shall be issued to each Lender, except
(i) to an existing Lender exchanging existing Notes to reflect changes in the Register relating to such Lender, in which case the new Notes delivered to such Lender shall be dated the date of the original Notes and (ii) in the case of
loss, destruction or mutilation of 

  

					
		  	33	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
existing Notes and similar circumstances for which a reasonably satisfactory affidavit of loss is provided the Borrower. Each Note, if issued, shall only be
issued as means to evidence the right, title or interest of a Lender or a registered assignee in and to the related Loan, as set forth in the Register, and in no event shall any Note be considered a bearer instrument or obligation. 
 Section 2.15 Suspension of Eurodollar Rate Option. Notwithstanding any provision to the contrary in this Article II, the
following shall apply: 
 (a) Interest Rate Unascertainable, Inadequate or Unfair. In the event that (A) the Administrative Agent
determines that adequate and fair means do not exist for ascertaining the applicable interest rates by reference to which the Eurodollar Rate is determined or (B) the Required Lenders notify the Administrative Agent that the Eurodollar Rate for
any Interest Period will not adequately reflect the cost to the Lenders of making or maintaining such Loans for such Interest Period, the Administrative Agent shall promptly so notify the Borrower and the Lenders, whereupon the obligation of each
Lender to make or to continue Eurodollar Rate Loans shall be suspended as provided in clause (c) below until the Administrative Agent shall notify the Borrower that the Required Lenders have determined that the circumstances causing such
suspension no longer exist. 
 (b) Illegality. If any Lender determines that the introduction of, or any change in or in the
interpretation of, any Requirement of Law after the date of this Agreement shall make it unlawful, or any Governmental Authority shall assert that it is unlawful, for any Lender or its applicable lending office to make Eurodollar Rate Loans or to
continue to fund or maintain Eurodollar Rate Loans, then, on notice thereof and demand therefor by such Lender to the Borrower through the Administrative Agent, the obligation of such Lender to make or to continue Eurodollar Rate Loans shall be
suspended as provided in clause (c) below until such Lender shall, through the Administrative Agent, notify the Borrower that it has determined that it may lawfully make Eurodollar Rate Loans. 
 (c) Effect of Suspension. If the obligation of any Lender to make or to continue Eurodollar Rate Loans is suspended, (A) the obligation of
such Lender to convert Base Rate Loans into Eurodollar Rate Loans shall be suspended, (B) such Lender shall make a Base Rate Loan at any time such Lender would otherwise be obligated to make a Eurodollar Rate Loan, (C) the Borrower may
revoke any pending Notice of Borrowing or Notice of Conversion or Continuation to make or continue any Eurodollar Rate Loan or to convert any Base Rate Loan into a Eurodollar Rate Loan and (D) each Eurodollar Rate Loan of such Lender shall
automatically and immediately (or, in the case of any suspension pursuant to clause (a) above, on the last day of the current Interest Period thereof) be converted into a Base Rate Loan. 
 Section 2.16 Breakage Costs; Increased Costs; Capital Requirements. (a) Breakage Costs. The Borrower shall compensate each
Lender, upon demand from such Lender to such Borrower (with copy to the Administrative Agent), for all Liabilities (including, in each case, those incurred by reason of the liquidation or reemployment of deposits or other funds acquired by such
Lender to prepare to fund, to fund or to maintain the Eurodollar Rate Loans of such Lender to the Borrower but excluding any loss of the Applicable Margin on the relevant Loans) that such Lender may incur (A) to the extent, for any reason other
than solely by reason of such Lender being a Non-Funding Lender, a proposed Borrowing, conversion into or continuation of Eurodollar Rate Loans does not occur on a date specified therefor in a Notice of Borrowing or a Notice of Conversion or
Continuation or in a similar request made by telephone by the Borrower, (B) to the extent any Eurodollar Rate Loan is paid (whether through a scheduled, 

  

					
		  	34	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
optional or mandatory prepayment) or converted to a Base Rate Loan (including because of Section 2.15) on a date that is not the last day of the
applicable Interest Period or (C) as a consequence of any failure by the Borrower to repay Eurodollar Rate Loans when required by the terms hereof. For purposes of this clause (a), each Lender shall be deemed to have funded each
Eurodollar Rate Loan made by it using a matching deposit or other borrowing in the London interbank market. 
 (b) Increased Costs. If
at any time any Lender determines that, after the date hereof, the adoption of, or any change in or in the interpretation, application or administration of, or compliance with, any Requirement of Law (other than any imposition or increase of
Eurodollar Reserve Requirements) from any Governmental Authority shall have the effect of (i) increasing the cost to such Lender of making, funding or maintaining any Eurodollar Rate Loan or to agree to do so or of participating, or agreeing to
participate, in extensions of credit or (ii) imposing any other cost to such Lender with respect to compliance with its obligations under any Loan Document, then, upon demand by such Lender (with copy to the Administrative Agent), the Borrower
shall pay to the Administrative Agent for the account of such Lender amounts sufficient to compensate such Lender for such increased cost. 
 (c) Increased Capital Requirements. If at any time any Lender determines that, after the date hereof, the adoption of, or any change in or in the interpretation, application or administration of, or compliance with, any Requirement
of Law (other than any imposition or increase of Eurodollar Reserve Requirements) from any Governmental Authority regarding capital adequacy, reserves, special deposits, compulsory loans, insurance charges against property of, deposits with or for
the account of, Obligations owing to, or other credit extended or participated in by, any Lender or any similar requirement (in each case other than any imposition or increase of Eurodollar Reserve Requirements) shall have the effect of reducing the
rate of return on the capital of such Lender’s (or any corporation controlling such Lender) as a consequence of its obligations under or with respect to any Loan Document to a level below that which, taking into account the capital adequacy
policies of such Lender or corporation, such Lender or corporation could have achieved but for such adoption or change, then, upon demand from time to time by such Lender (with a copy of such demand to the Administrative Agent), the Borrower shall
pay to the Administrative Agent for the account of such Lender amounts sufficient to compensate such Lender for such reduction. 
 (d)
Compensation Certificate. Each demand for compensation under this Section 2.16 shall be accompanied by a certificate of the Lender claiming such compensation, setting forth the amounts to be paid hereunder, which certificate shall
be conclusive, binding and final for all purposes, absent manifest error. In determining such amount, such Lender may use any reasonable averaging and attribution methods. 
 (e) Taxes. This Section 2.16 shall not apply to taxes, which shall be governed by Section 2.17. 
 Section 2.17 Taxes. (a) Payments Free and Clear of Taxes. Except as otherwise provided in this Section 2.17, each
payment by any Loan Party under any Loan Document shall be made free and clear of all present or future taxes, levies, imposts, deductions, charges or withholdings and all liabilities with respect thereto (and without deduction for any of them)
(collectively, but excluding the taxes set forth in clauses (i) and (ii) below, the “Taxes”) other than for (i) taxes measured by net income (including branch profits taxes) and franchise taxes imposed
in lieu of net income taxes, in each case imposed on any Secured Party as a result 

  

					
		  	35	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
of a present or former connection between such Secured Party and the jurisdiction of the Governmental Authority imposing such tax or any political
subdivision or taxing authority thereof or therein (other than such connection arising solely from any Secured Party having executed, delivered or performed its obligations or received a payment under, or enforced, any Loan Document) or
(ii) taxes that are directly attributable to the failure (other than as a result of a change in any Requirement of Law) by any Secured Party to deliver the documentation required to be delivered pursuant to clause (f) below.

 (b) Gross-Up. If any Taxes shall be required by law to be deducted from or in respect of any amount payable under any Loan Document
to any Secured Party (i) such amount shall be increased as necessary to ensure that, after all required deductions for Taxes are made (including deductions applicable to any increases to any amount under this Section 2.17), such
Secured Party receives the amount it would have received had no such deductions been made, (ii) the relevant Loan Party shall make such deductions, (iii) the relevant Loan Party shall timely pay the full amount deducted to the relevant
taxing authority or other authority in accordance with applicable Requirements of Law and (iv) within 30 days after such payment is made, the relevant Loan Party shall deliver to the Administrative Agent an original or certified copy of a
receipt evidencing such payment; provided, however, that no such increase shall be made with respect to, and no Loan Party shall be required to indemnify any such Secured Party pursuant to clause (d) below for, withholding
taxes except to the extent that the obligation to withhold amounts would not have been imposed but for a change in law occurring after date that such Secured Party became a “Secured Party” under this Agreement in the capacity under
which such Secured Party makes a claim under this clause (b), except in each case to the extent that (y) such Secured Party is a direct or indirect assignee (other than pursuant to Section 2.18 (Substitution of
Lenders)) of any other Secured Party that was entitled, at the time the assignment of such other Secured Party became effective, to receive additional amounts under this clause (b) or (z) the obligation to withhold would not
have been imposed but for a change in circumstances with respect to the Borrower. 
 (c) Other Taxes. In addition, the Borrower agrees
to pay, and authorizes the Administrative Agent to pay in its name, any stamp, documentary, excise or property tax, charges or similar levies imposed by any applicable Requirement of Law or Governmental Authority and all Liabilities with respect
thereto (including by reason of any delay in payment thereof), in each case arising from the execution, delivery or registration of, or otherwise with respect to, any Loan Document or any transaction contemplated therein (collectively,
“Other Taxes”). Within 30 days after the date of any payment of Taxes or Other Taxes by any Loan Party, the Borrower shall furnish to the Administrative Agent, at its address referred to in Section 11.11, the original or
a certified copy of a receipt evidencing payment thereof. 
 (d) Indemnification. The Borrower shall reimburse and indemnify, within
30 days after receipt of demand therefor (with copy to the Administrative Agent), each Secured Party for all Taxes and Other Taxes (including any Taxes and Other Taxes imposed by any jurisdiction on amounts payable under this
Section 2.17) paid by such Secured Party and any Liabilities arising therefrom or with respect thereto (other than any taxes described in Section 2.17(a)(i) or (a)(ii)), whether or not such Taxes or Other Taxes were
correctly or legally asserted. A certificate of the Secured Party (or of the Administrative Agent on behalf of such Secured Party) claiming any compensation under this clause (d), setting forth the amounts to be paid thereunder and delivered
to the Borrower with copy to the Administrative Agent, shall be conclusive, binding and final for all purposes, absent manifest error. In determining such amount, the Administrative Agent and such Secured Party may use any reasonable averaging and
attribution methods. 
  

					
		  	36	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (e) Mitigation. Any Lender claiming any additional amounts payable pursuant to this
Section 2.17 shall use its reasonable efforts (consistent with its internal policies and Requirements of Law) to change the jurisdiction of its lending office if such a change would reduce any such additional amounts (or any similar
amount that may thereafter accrue) and would not, in the sole determination of such Lender, be otherwise disadvantageous to such Lender. 
 (f) Tax Forms. (i) Each Non-U.S. Lender Party that, at any of the following times, is entitled to an exemption from United States withholding tax or, after a change in any Requirement of Law, is subject to such withholding tax
at a reduced rate under an applicable tax treaty, shall (w) on or prior to the date such Non-U.S. Lender Party becomes a “Non-U.S. Lender Party” hereunder, (x) on or prior to the date on which any such form or
certification expires or becomes obsolete, (y) after the occurrence of any event requiring a change in the most recent form or certification previously delivered by it pursuant to this clause (i) and (z) from time to time if
requested by the Borrower or the Administrative Agent (or, in the case of a participant or SPV, the relevant Lender), provide the Administrative Agent and the Borrower (or, in the case of a participant or SPV, the relevant Lender) with two completed
originals of each of the following, as applicable: (A) Forms W-8ECI (claiming exemption from U.S. withholding tax because the income is effectively connected with a U.S. trade or business), W-8BEN (claiming exemption from, or a reduction of,
U.S. withholding tax under an income tax treaty) or any successor forms, (B) in the case of a Non-U.S. Lender Party claiming exemption under Sections 871(h) or 881(c) of the Code, Form W-8BEN (claiming exemption from U.S. withholding tax under
the portfolio interest exemption) or any successor form and a certificate in form and substance acceptable to the Administrative Agent that such Non-U.S. Lender Party is not (1) a “bank” within the meaning of
Section 881(c)(3)(A) of the Code, (2) a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code or (3) a “controlled foreign corporation” described in
Section 881(c)(3)(C) of the Code or (C) any other applicable document prescribed by the IRS certifying as to the entitlement of such Non-U.S. Lender Party to such exemption from United States withholding tax or reduced rate with respect to
all payments to be made to such Non-U.S. Lender Party under the Loan Documents. Unless the Borrower and the Administrative Agent have received forms or other documents satisfactory to them indicating that payments under any Loan Document to or for a
Non-U.S. Lender Party are not subject to United States withholding tax or are subject to such tax at a rate reduced by an applicable tax treaty, the Loan Parties and the Administrative Agent shall withhold amounts required to be withheld by
applicable Requirements of Law from such payments at the applicable statutory rate. 
 (i) Each U.S. Lender Party shall
(A) on or prior to the date such U.S. Lender Party becomes a “U.S. Lender Party” hereunder, (B) on or prior to the date on which any such form or certification expires or becomes obsolete, (C) after the occurrence of
any event requiring a change in the most recent form or certification previously delivered by it pursuant to this clause (f) and (D) from time to time if requested by the Borrower or the Administrative Agent (or, in the case of a
participant or SPV, the relevant Lender), provide the Administrative Agent and the Borrower (or, in the case of a participant or SPV, the relevant Lender) with two completed originals of Form W-9 (certifying that such U.S. Lender Party is entitled
to an exemption from U.S. backup withholding tax) or any successor form. 
  

					
		  	37	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (ii) Each Lender having sold a participation in any of its Obligations or identified an
SPV as such to the Administrative Agent shall collect from such participant or SPV the documents described in this clause (f) and provide them to the Administrative Agent. 
 Section 2.18 Substitution of Lenders. (a) Substitution Right. In the event that any Lender in the Facility that is not an
Affiliate of the Administrative Agent (an “Affected Lender”), (i) makes a claim under clause (b) (Increased Costs) or (c) (Increased Capital Requirements) of Section 2.16,
(ii) notifies the Borrower pursuant to Section 2.15(b) (Illegality) that it becomes illegal for such Lender to continue to fund or make any Eurodollar Rate Loan in such Facility, (iii) makes a claim for payment pursuant
to Section 2.17(b) (Taxes), (iv) becomes a Non-Funding Lender with respect to such Facility or (v) does not consent to any amendment, waiver or consent to any Loan Document for which the consent of the Required Lenders
is obtained but that requires the consent of other Lenders in such Facility, the Borrower may either pay in full such Affected Lender with respect to amounts due in such Facility with the consent of the Administrative Agent or substitute for such
Affected Lender in such Facility any Lender or any Affiliate or Approved Fund of any Lender or any other Person acceptable (which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent (in each case, a
“Substitute Lender”). 
 (b) Procedure. To substitute such Affected Lender or pay in full the Obligations owed to
such Affected Lender under the Facility, the Borrower shall deliver a notice to the Administrative Agent and such Affected Lender. The effectiveness of such payment or substitution shall be subject to the delivery to the Administrative Agent by the
Borrower (or, as may be applicable in the case of a substitution, by the Substitute Lender) of (i) payment for the account of such Affected Lender, of, to the extent accrued through, and outstanding on, the effective date for such payment or
substitution, all Obligations (including any Prepayment Fee, if applicable) owing to such Affected Lender with respect to the Facility (including those that will be owed because of such payment) and (ii) in the case of a substitution,
(A) payment of the assignment fee set forth in Section 11.2(c) and (B) an assumption agreement in form and substance satisfactory to the Administrative Agent whereby the Substitute Lender shall, among other things, agree to be
bound by the terms of the Loan Documents and assume the Commitment of the Affected Lender under the Facility. 
 (c) Effectiveness.
Upon satisfaction of the conditions set forth in clause (b) above, the Administrative Agent shall record such substitution or payment in the Register, whereupon (i) in the case of any payment in full in the Facility, such Affected
Lender’s Commitments in the Facility shall be terminated and (ii) in the case of any substitution in the Facility, (A) the Affected Lender shall sell and be relieved of, and the Substitute Lender shall purchase and assume, all rights
and claims of such Affected Lender under the Loan Documents with respect to the Facility, except that the Affected Lender shall retain such rights expressly providing that they survive the repayment of the Obligations and the termination of the
Commitments, (B) the Substitute Lender shall become a “Lender” hereunder having a Commitment in the Facility in the amount of such Affected Lender’s Commitment in the Facility and (C) the Affected Lender shall execute
and deliver to the Administrative Agent an Assignment to evidence such substitution and deliver any Note in its possession with respect to the Facility; provided, however, that the failure of any Affected Lender to execute any such
Assignment or deliver any such Note shall not render such sale and purchase (or the corresponding assignment) invalid. 
  

					
		  	38	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 ARTICLE 3 
 CONDITIONS TO THE LOANS 
 Section 3.1 Conditions Precedent to the Loans. The obligation of
each Lender to make any Loan on the Closing Date is subject to the satisfaction or due waiver of each of the following conditions precedent on or before July 15, 2007: 
 (a) Certain Documents. The Administrative Agent shall have received on or prior to the Closing Date each of the following, each dated the Closing
Date unless otherwise agreed by the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent and each Lender: 
 (i) this Agreement (including all exhibits, schedules and annexes) duly executed by Holdings and the Borrower and, for the account of each Lender having requested the same by notice to the Administrative Agent and the
Borrower received by each at least 3 Business Days prior to the Closing Date (or such later date as may be agreed by the Borrower), Notes in the Facility conforming to the requirements set forth in Section 2.14(e); 
 (ii) the Guaranty and Security Agreement, duly executed by each Guarantor, together with (A) copies of UCC, Intellectual Property and
other appropriate search reports and of all effective prior filings listed therein, together with evidence of the termination of such prior filings and other documents with respect to the priority of the security interest of the Collateral Agent in
the Collateral, in each case as may be reasonably requested by the Administrative Agent, (B) all documents representing all Securities being pledged pursuant to such Guaranty and Security Agreement and related undated powers or endorsements
duly executed in blank and (C) all Control Agreements that, in the reasonable judgment of the Administrative Agent, are required for the Loan Parties to comply with the Loan Documents as of the Closing Date, each duly executed by, in addition
to the applicable Loan Party, the applicable financial institution; 
 (iii) the Intercreditor Agreement; 
 (iv) each of the Related Documents; 
 (v) a duly executed favorable opinion of Skadden, Arps, Slate, Meagher & Flom LLP, counsel to the Loan Parties, addressed to the Administrative Agent and the Lenders and addressing such matters as the
Administrative Agent may reasonably request; 
 (vi) a copy of each Constituent Document of each Loan Party that is on file
with any Governmental Authority in any jurisdiction, certified as of a recent date by such Governmental Authority, together with, if applicable, certificates attesting to the good standing of such Loan Party in such jurisdiction and each other
jurisdiction where such Loan Party is qualified to do business as a foreign entity or where such qualification is necessary (and, if appropriate in any such jurisdiction, related tax certificates); 
  

					
		  	39	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (vii) a certificate of the secretary, assistant secretary or other officer of each Loan
Party in charge of maintaining books and records of such Loan Party certifying as to (A) the names and signatures of each officer of such Loan Party authorized to execute and deliver any Loan Document, (B) the Constituent Documents of such
Loan Party attached to such certificate are complete and correct copies of such Constituent Documents as in effect on the date of such certification (or, for any such Constituent Document delivered pursuant to clause (v) above, that
there have been no changes from such Constituent Document so delivered) and (C) the resolutions of such Loan Party’s board of directors or other appropriate governing body approving and authorizing the execution, delivery and performance
of each Loan Document to which such Loan Party is a party; 
 (viii) a certificate of a Responsible Officer of the Borrower to
the effect that (A) each condition set forth in Section 3.2(b) has been satisfied, (B) both the Loan Parties taken as a whole and the Borrower are Solvent after giving effect to the Loans, the consummation of the Related
Transactions, the application of the proceeds thereof in accordance with Section 7.9 and the payment of all estimated legal, accounting and other fees and expenses related hereto and thereto and (C) attached thereto are complete and
correct copies of each Related Document (other than the payoff letter for the Existing Credit Agreement); 
 (ix) insurance
certificates in form and substance reasonably satisfactory to the Administrative Agent demonstrating that the insurance policies required by Section 7.5 are in full force and effect and have all endorsements required by such
Section 7.5; and 
 (x) such other documents and information as any Lender through the Administrative Agent may
reasonably request. 
 (b) Fee and Expenses. There shall have been paid to the Administrative Agent, for the account of the
Administrative Agent or Collateral Agent, their Related Persons or any Lender, as the case may be, all fees and all reimbursements of costs or expenses, in each case due and payable under any Loan Document on or before the Closing Date. 

(c) Consents. Each Group Member shall have received all consents and authorizations required pursuant to any material Contractual Obligation
with any other Person and shall have obtained all Permits of, and effected all notices to and filings with, any Governmental Authority, in each case, as may be necessary in connection with the consummation of the transactions contemplated in any
Loan Document or Related Document (including the Related Transactions). 
 (d) Earnings Reports. The Administrative Agent shall be
satisfied with the results of a quality of earnings assessment report with respect to the earnings of Holdings and its Subsidiaries, which report shall have been conducted by an independent accounting firm acceptable to the Administrative Agent.

 (e) First Lien Facility. Concurrently on the Closing Date, the First Lien Credit Agreement shall have been entered into and be
effective and the Borrower shall have received gross proceeds and commitments to lend of not less than $100,000,000 thereunder. 
 (f)
Related Transactions. The Administrative Agent shall be satisfied that, subject only to the funding of the Loans hereunder and the use of proceeds thereof, (i) an amount equal to the sum of (A) the “Redemption
Price” (as such amount is calculated under the Senior 

  

					
		  	40	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
Notes Indenture , but in any event not less than $184,625,000) and (B) the “Redemption Price” (as such term is defined under the
Subordinated Notes Indenture, but in any event not less than $64,500,000) shall have been deposited into a Cash Collateral Account, (ii) the Parent shall have duly delivered the Redemption Notice in accordance with the terms of each of the
Senior Notes Indenture and the Subordinated Notes Indenture and (iii) all obligations under the Existing Credit Agreement will have been repaid in full, as evidenced by a payoff letter duly executed and delivered by the Parent, Holdings and the
Existing Agent. 
 Section 3.2 Conditions Precedent to each Loan. In addition to the conditions set forth in
Section 3.1, the obligation of each Lender to make the Loans on the Closing Date is subject to the satisfaction of each of the following conditions precedent: 
 (a) Request. The Administrative Agent shall have received, to the extent required by Article II, a written, timely and duly executed and completed Notice of Borrowing. 
 (b) Representations and Warranties; No Defaults. The following statements shall be true on such date, both before and after giving effect to such
Loan: (i) the representations and warranties set forth in any Loan Document shall be true and correct (A) if such date is the Closing Date, on and as of such date and (B) otherwise, in all material respects on and as of such date or,
to the extent such representations and warranties expressly relate to an earlier date, on and as of such earlier date and (ii) no Default shall be continuing. 
 (c) Additional Matters. The Administrative Agent shall have received such additional documents and information as any Lender, through the Administrative Agent, may reasonably request. 
 The representations and warranties set forth in the Notice of Borrowing (or any certificate delivered in connection therewith) shall be deemed to be made
again on and as of the date of the relevant Loans and the acceptance of the proceeds thereof. 
 Section 3.3 Determinations of
Initial Borrowing Conditions. For purposes of determining compliance with the conditions specified in Section 3.1, each Lender shall be deemed to be satisfied with each document and each other matter required to be satisfactory to
such Lender unless, prior to the Closing Date, the Administrative Agent receives notice from such Lender specifying such Lender’s objections and such Lender has not made available its Pro Rata Share of any Borrowing scheduled to be made on the
Closing Date. 
 ARTICLE 4 
 REPRESENTATIONS AND WARRANTIES 
 To induce the Lenders and the Administrative Agent to enter into the Loan Documents, each of
Holdings and the Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) represents and warrants to each of them each of the following on and as of each date applicable pursuant to Section 3.2:

 Section 4.1 Corporate Existence; Compliance with Law. Each Loan Party (a) is duly organized, validly existing and in
good standing under the laws of the jurisdiction of its organization, (b) is duly qualified to do business as a foreign entity and in good standing under the laws of each jurisdiction where such qualification is necessary, except where the
failure to be so qualified or in good standing would not, in the aggregate, have a Material Adverse Effect, 

  

					
		  	41	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
(c) has all requisite power and authority and the legal right to own, pledge, mortgage and operate its property, to lease or sublease any property it
operates under lease or sublease and to conduct its business as now or currently proposed to be conducted, (d) is in compliance with its Constituent Documents in all material respects, (e) is in compliance with all applicable Requirements
of Law except where the failure to be in compliance would not have a Material Adverse Effect and (f) has all necessary Permits from or by, has made all necessary filings with, and has given all necessary notices to, each Governmental Authority
having jurisdiction, to the extent required for such ownership, lease, sublease, operation, occupation or conduct of business, except where the failure to obtain such Permits, make such filings or give such notices would not, in the aggregate, have
a Material Adverse Effect. 
 Section 4.2 Loan and Related Documents. (a) Power and Authority. The execution,
delivery and performance by each Loan Party of the Loan Documents and Related Documents to which it is a party and the consummation of the Related Transactions and other transactions contemplated therein (i) are within such Loan Party’s
corporate or similar powers and, at the time of execution thereof, have been duly authorized by all necessary corporate and similar action (including, if applicable, consent of holders of its Securities), (ii) do not (A) contravene such
Loan Party’s Constituent Documents, (B) violate any applicable Requirement of Law, (C) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material
Contractual Obligation of any Loan Party or any of its Subsidiaries (including other Related Documents or Loan Documents) other than those that would not, in the aggregate, have a Material Adverse Effect and are not created or caused by, or a
conflict, breach, default or termination or acceleration event under, any Loan Document or (D) result in the imposition of any Lien (other than a Permitted Lien) upon any property of any Loan Party or any of its Subsidiaries and (iii) do
not require any Permit of, or filing with, any Governmental Authority or any consent of, or notice to, any Person, other than (A) with respect to the Loan Documents, the filings required to perfect the Liens created by the Loan Documents,
(B) those listed on Schedule 4.2 and that have been, or will be prior to the Closing Date, obtained or made, copies of which have been, or will be prior to the Closing Date, delivered to the Administrative Agent, and each of which
on the Closing Date will be in full force and effect and (C) with respect to the Related Transactions, those that, if not obtained, would not, in the aggregate, have a Material Adverse Effect. 
 (b) Due Execution and Delivery. From and after its delivery to the Administrative Agent, each Loan Document and Related Document has been duly
executed and delivered to the other parties thereto by each Loan Party party thereto, is the legal, valid and binding obligation of such Loan Party and is enforceable against such Loan Party in accordance with its terms. 
 (c) Related Documents. As of the Closing Date, each representation and warranty in each Related Document is true and correct in all material
respects and no default, or event that, with the giving of notice or lapse of time or both, would constitute a default, has occurred thereunder. 
 Section 4.3 Ownership of Group Members. Set forth on Schedule 4.3 is a complete and accurate list showing, as of the Closing Date, for the Parent, each Loan Party and each parent and Subsidiary of any Loan Party
and each joint venture of any of them, its jurisdiction of organization, the number of shares of each class of Stock authorized (if applicable), the number outstanding on the Closing Date and the number and percentage of the outstanding shares of
each such class owned (directly or indirectly) by the Borrower or Holdings. 

  

					
		  	42	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
All outstanding Stock of each of them has been validly issued, is fully paid and non-assessable (to the extent applicable) and, except in the case of
Holdings, is owned beneficially and of record by a Group Member (or, in the case of the Borrower, by Holdings) free and clear of all Liens other than the security interests created by the Loan Documents and, in the case of joint ventures, Permitted
Liens. There are no Stock Equivalents with respect to the Stock of any Group Member (other than Holdings) or any Subsidiary of any Group Member or any joint venture of any of them and, as of the Closing Date, except as set forth on
Schedule 4.3, there are no Stock Equivalents with respect to the Stock of Holdings. There are no Contractual Obligations or other understandings to which any Group Member, any Subsidiary of any Group Member or any joint venture of any of
them is a party with respect to (including any restriction on) the issuance, voting, Sale or pledge of any Stock or Stock Equivalent of any Group Member or any such Subsidiary or joint venture. 
 Section 4.4 Financial Statements. (a) Each of (i) the audited Consolidated balance sheet of the Parent as at March 31, 2006
and the related Consolidated statements of income, retained earnings and cash flows of the Parent for the Fiscal Year then ended, certified by Ernst & Young LLP and (ii) subject to the absence of footnote disclosure and normal
recurring year-end audit adjustments, the condensed unaudited Consolidated balance sheets of the Parent as at December 31, 2006 and the related condensed Consolidated statements of income, retained earnings and cash flows of the Parent for the
9 months then ended, copies of each of which have been furnished to the Administrative Agent, fairly present in all material respects the Consolidated financial position, results of operations and cash flow of the Parent and its Subsidiaries as at
the dates indicated and for the periods indicated in accordance with GAAP. 
 (b) On the Closing Date, (i) none of the Group Members has
any material liability or other obligation (including Indebtedness, Guaranty Obligations, contingent liabilities and liabilities for taxes, long-term leases and unusual forward or long-term commitments) that is not reflected in the Financial
Statements referred to in clause (a) above or in the notes thereto and not otherwise permitted by this Agreement and (ii) since the date of the unaudited Financial Statements referenced in clause (a)(ii) above (other than the
sale of the European operations of the Parent and its subsidiaries), there has been no Sale of any material property of the Group Members and no purchase or other acquisition of any material property. 
 (c) The Initial Projections have been prepared by the Borrower in light of the past operations of the business of the Borrower and its Subsidiaries and
reflect projections for the 5-year period beginning on April 1, 2007 on a quarterly basis. As of the Closing Date, the Initial Projections are based upon estimates and assumptions stated therein, all of which the Borrower believes to be
reasonable and fair in light of conditions and facts known to the Borrower as of the Closing Date and reflect the good faith, reasonable and fair estimates by the Borrower of the future Consolidated financial performance of Parent and the other
information projected therein for the periods set forth therein. 
 (d) The unaudited Consolidated balance sheet of the Parent (the
“Pro Forma Balance Sheet”) delivered to the Administrative Agent prior to the date hereof, has been prepared as of April 30, 2007 and reflects as of such date, on a Pro Forma Basis for the Related Transactions and the other
transactions contemplated herein to occur on the Closing Date, the Consolidated financial condition of Parent, and the assumptions expressed therein are reasonable based on the information available to Parent and the Borrower at such date and on the
Closing Date. 
  

					
		  	43	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 4.5 Material Adverse Effect. Since March 31, 2006, there have been no events,
circumstances, developments or other changes in facts that would, in the aggregate, have a Material Adverse Effect. 
 Section 4.6
Solvency. Both before and after giving effect to (a) the Loans, (b) the use of the proceeds of such Loans, (c) the consummation of the Related Transactions and (d) the payment and accrual of all transaction costs in
connection with the foregoing, both the Loan Parties taken as a whole and the Borrower are Solvent. 
 Section 4.7 Litigation.
There are no pending (or, to the knowledge of any Group Member, threatened) actions, investigations, suits, proceedings, audits, claims, demands, orders or disputes affecting the Borrower or any of its Subsidiaries with, by or before any
Governmental Authority other than those that cannot reasonably be expected to affect the validity or enforceability of the Obligations, the Loan Documents, the Letters of Credit, the Related Documents, the Related Transactions and the other
transactions contemplated therein and would not, in the aggregate, have a Material Adverse Effect. 
 Section 4.8 Taxes. All
federal, state, local and foreign income and franchise and other material tax returns, reports and statements (collectively, the “Tax Returns”) required to be filed by any Tax Affiliate have been filed with the appropriate
Governmental Authorities in all jurisdictions in which such Tax Returns are required to be filed, all such Tax Returns are true and correct in all material respects, and all taxes, charges and other impositions reflected therein or otherwise due and
payable have been paid prior to the date on which any Liability may be added thereto for non-payment thereof except for those contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves are maintained on
the books of the appropriate Tax Affiliate in accordance with GAAP. No Tax Return is under audit or examination by any Governmental Authority and no notice of such an audit or examination or any assertion of any claim for Taxes has been given or
made by any Governmental Authority, except as disclosed on Schedule 4.8. Proper and accurate amounts have been withheld by each Tax Affiliate from their respective employees for all periods in full and complete compliance with the tax, social
security and unemployment withholding provisions of applicable Requirements of Law and such withholdings have been timely paid to the respective Governmental Authorities. No Tax Affiliate has participated in a “reportable
transaction” within the meaning of Treasury Regulation Section 1.6011-4(b) or has been a member of an affiliated, combined or unitary group other than the group of which a Tax Affiliate is the common parent. 
 Section 4.9 Margin Regulations. The Borrower is not engaged in the business of extending credit for the purpose of, and no proceeds of any
Loan or other extensions of credit hereunder will be used for the purpose of, buying or carrying margin stock (within the meaning of Regulation U of the Federal Reserve Board) or extending credit to others for the purpose of purchasing or carrying
any such margin stock, in each case in contravention of Regulation T, U or X of the Federal Reserve Board. 
 Section 4.10 No
Burdensome Obligations; No Defaults. No Group Member is a party to any Contractual Obligation, no Group Member has Constituent Documents containing obligations, and, to the knowledge of any Group Member, there are no applicable Requirements of
Law, in each case the compliance with which would have, in the aggregate, a Material Adverse Effect. No Group Member (and, to the knowledge of each Group Member, no other party thereto) is in default under or with respect to any Contractual
Obligation of any Group Member, other than those that would not, in the aggregate, have a Material Adverse Effect. 
  

					
		  	44	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 4.11 Investment Company Act; Public Utility Holding Company Act. No Group Member is
(a) an “investment company” or an “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment company”, as such terms are defined in
the Investment Company Act of 1940 or (b) a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding company”, as
each such term is defined and used in the Public Utility Holding Company Act of 1935. 
 Section 4.12 Labor Matters. There are
no strikes, work stoppages, slowdowns or lockouts existing, pending (or, to the knowledge of any Group Member, threatened) against or involving any Group Member, except, for those that would not, in the aggregate, have a Material Adverse Effect.
Except as set forth on Schedule 4.12, as of the Closing Date, (a) there is no collective bargaining or similar agreement with any union, labor organization, works council or similar representative covering any employee of any Group
Member, (b) no petition for certification or election of any such representative is existing or pending with respect to any employee of any Group Member and (c) no such representative has sought certification or recognition with respect to
any employee of any Group Member. 
 Section 4.13 ERISA. Each Benefit Plan, and each trust thereunder, intended to qualify for
tax exempt status under Section 401 or 501 of the Code or other Requirements of Law so qualifies, except for any failures to so qualify, in the aggregate, that would not have a Material Adverse Effect. Except for those that would not, in the
aggregate, have a Material Adverse Effect, (w) each Benefit Plan is in compliance with applicable provisions of ERISA, the Code and other Requirements of Law, (x) there are no existing or pending (or to the knowledge of any Group Member,
threatened) claims (other than routine claims for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or investigation involving any Benefit Plan to which any ERISA Affiliate incurs or otherwise has an obligation or any
Liability, (y) no ERISA Event is reasonably expected to occur and (z) on the Closing Date, no ERISA Event has occurred in connection with which liabilities (contingent or otherwise) remain outstanding. Except as would not, in the
aggregate, have a Material Adverse Effect, no ERISA Affiliate would have any Withdrawal Liability as a result of a complete withdrawal from any Multiemployer Plan on the date this representation is made. 
 Section 4.14 Environmental Matters. Except as set forth on Schedule 4.14, (a) the operations of each Group Member are and
have been in compliance with all applicable Environmental Laws, including obtaining, maintaining and complying with all Permits required by any applicable Environmental Law, other than non-compliances that, in the aggregate, would not have a
Material Adverse Effect, (b) no Group Member is party to, and no Group Member and no real property currently (or to the knowledge of any Group Member previously) owned, leased, subleased, operated or otherwise occupied by or for any Group
Member is subject to or the subject of, any Contractual Obligation or any pending (or, to the knowledge of any Group Member, threatened) order, action, investigation, suit, proceeding, audit, claim, demand, dispute or notice of violation or of
potential liability or similar notice under or pursuant to any Environmental Law other than those that, in the aggregate, would not result in a Material Adverse Effect, (c) no Lien (other than Permitted Liens) in favor of any Governmental
Authority securing, in whole or in part, Environmental Liabilities has attached to any property of any Group Member and, to the knowledge of any Group Member, no facts, circumstances or conditions exist that could reasonably be expected to result in
any such Lien attaching to any such property, (d) no Group Member has caused or suffered to occur a Release of Hazardous Materials at, to or from any real property of any Group Member and each such real property is free of contamination by

  

					
		  	45	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
any Hazardous Materials except for such Release or contamination that would not result, in the aggregate, in a Material Adverse Effect, (e) no Group
Member (i) is or has been engaged in, or has permitted any current or former tenant to engage in, operations, or (ii) knows of any facts, circumstances or conditions, including receipt of any information request or notice of potential
responsibility under CERCLA or similar Environmental Laws, that, in the aggregate, would result in a Material Adverse Effect and (f) each Loan Party has made available to the Administrative Agent copies of all existing environmental reports,
reviews and audits and all documents pertaining to actual or potential Environmental Liabilities, in each case to the extent such reports, reviews, audits and documents are in their possession, custody or control. 
 Section 4.15 Intellectual Property. Each Group Member owns or licenses all Intellectual Property that is necessary for the operations of
its businesses. To the knowledge of each Group Member, (a) the conduct and operations of the businesses of each Group Member does not infringe, misappropriate, dilute, violate or otherwise impair any Intellectual Property owned by any other
Person and (b) no other Person has contested any right, title or interest of any Group Member in, or relating to, any Intellectual Property, other than, in each case, as cannot reasonably be expected to affect the validity and enforceability of
the Loan Documents and the transactions contemplated therein and would not, in the aggregate, have a Material Adverse Effect. In addition, (x) there are no pending (or, to the knowledge of any Group Member, threatened) actions, investigations,
suits, proceedings, audits, claims, demands, orders or disputes affecting any Group Member with respect to, (y) no judgment or order regarding any such claim has been rendered by any competent Governmental Authority, no settlement agreement or
similar Contractual Obligation has been entered into by any Group Member, with respect to and (z) no Group Member knows or has any reason to know of any valid basis for any claim based on, any such infringement, misappropriation, dilution,
violation or impairment or contest, other than, in each case, as cannot reasonably be expected to affect the validity and enforceability of the Loan Documents and the transactions contemplated therein and would not, in the aggregate, have a Material
Adverse Effect. 
 Section 4.16 Title; Real Property. (a) Each Group Member has good and marketable fee simple title to
all material owned real property and valid leasehold interests in all material leased real property, and owns all material personal property, in each case that is purported to be owned or leased by it, including those reflected on the most recent
Financial Statements delivered by the Borrower, and none of such property is subject to any Lien except Permitted Liens. 
 (b) Set forth on
Schedule 4.16 is, as of the Closing Date, (i) a complete and accurate list of all real property owned in fee simple by any Loan Party or in which any Loan Party owns a leasehold interest setting forth, for each such real property,
the current street address (including, where applicable, county, state and other relevant jurisdictions), the record owner thereof and, where applicable, each lessee and sublessee thereof, (ii) any lease, sublease, license or sublicense of such
real property by any Loan Party and (iii) for each such owned real property that the Administrative Agent has requested be subject to a Mortgage or that is otherwise material to the business of any Group Member, each Contractual Obligation by
any Group Member, whether contingent or otherwise, to Sell such real property. 
 Section 4.17 Full Disclosure. The information
prepared or furnished by or on behalf of any Group Member in connection with any Loan Document or Related Document (including the information contained in any Financial Statement or Disclosure Document) or the consummation of any Related Transaction
or any other transaction contemplated therein, does not 

  

					
		  	46	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein, in light of the
circumstances when made, not misleading; provided, however, that projections contained therein are not to be viewed as factual and that actual results during the periods covered thereby may differ from the results set forth in such
projections by a material amount. All projections that are part of such information (including those set forth in any Projections delivered subsequent to the Closing Date) are based upon good faith estimates and stated assumptions believed to be
reasonable and fair as of the date made in light of conditions and facts then known and, as of such date, reflect good faith, reasonable and fair estimates of the information projected for the periods set forth therein. All facts known to any Group
Member and material to an understanding of the financial condition, business, property or prospects of the Group Member taken as one enterprise have been disclosed to the Lenders or as set forth in the Disclosure Documents. 
 Section 4.18 Patriot Act. No Group Member (and, to the knowledge of each Group Member, no joint venture or subsidiary thereof) is in
violation in any material respects of any United States Requirements of Law relating to terrorism, sanctions or money laundering (the “Anti-Terrorism Laws”), including the United States Executive Order No. 13224 on Terrorist
Financing (the “Anti-Terrorism Order”) and the Patriot Act. 
 ARTICLE 5 
 FINANCIAL COVENANTS 
 Each of Holdings and the
Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) agrees with the Lenders and the Administrative Agent to each of the following, as long as any Obligation or any Commitment remains outstanding: 
 Section 5.1 Maximum Consolidated Leverage Ratio. The Parent shall not have, on the last day of each Fiscal Quarter set forth below, a
Consolidated Leverage Ratio greater than the maximum ratio set forth opposite such Fiscal Quarter: 
  

					
		  	47	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

			
	 FISCAL QUARTER ENDING
	  	MAXIMUM CONSOLIDATED
LEVERAGE RATIO
	 March 31, 2008
	  	5.00 to 1
	 June 30, 2008
	  	4.75 to 1
	 September 30, 2008
	  	4.75 to 1
	 December 31, 2008
	  	4.75 to 1
	 March 31, 2009
	  	4.75 to 1
	 June 30, 2009
	  	4.63 to 1
	 September 30, 2009
	  	4.63 to 1
	 December 31, 2009
	  	4.63 to 1
	 March 31, 2010
	  	4.63 to 1
	 June 30, 2010
	  	4.50 to 1
	 September 30, 2010
	  	4.50 to 1
	 December 31, 2010
	  	4.50 to 1
	 March 31, 2011
	  	4.50 to 1
	 June 30, 2011
	  	4.38 to 1
	 September 30, 2011
	  	4.38 to 1
	 December 31, 2011
	  	4.38 to 1
	 March 31, 2012
	  	4.38 to 1
	 June 30, 2012
	  	4.25 to 1

 Section 5.2 Minimum Consolidated Fixed Charge Coverage Ratio. The Parent shall not
have, on the last day of any Fiscal Quarter, a Consolidated Fixed Charge Coverage Ratio for the 4 Fiscal Quarter period ending on such day less than the minimum ratio set forth opposite such Fiscal Quarter: 
  

			
	 FISCAL QUARTER ENDING
	  	MINIMUM CONSOLIDATED FIXED
CHARGE COVERAGE RATIO
	 June 30, 2007
	  	0.40 to 1
	 September 30, 2007
	  	0.40 to 1
	 December 31, 2007
	  	0.70 to 1
	 March 31, 2008
	  	0.80 to 1
	Beginning with Fiscal Quarter ending on June 30, 2008 and for each Fiscal Quarter through June 30, 2012	  	1.00 to 1

 For purposes of determining Consolidated Fixed Charge Coverage Ratio for any four Fiscal Quarters period ended on
or prior to March 31, 2008, the Consolidate Interest Expense for (a) the Fiscal Quarter ending on June 30, 2007 shall be equal to (i) $2,900,000 multiplied by (ii) 4; (b) for the Fiscal Quarter ending on
September 30, 2007 shall be equal to (i) the sum of (x) the actual Consolidated Interest Expense for such Fiscal Quarter plus (y) $2,900,000 multiplied by (ii) 2; (c) for the Fiscal Quarter ending on
December 31, 2007 shall be equal to (i) the sum of (x) the actual Consolidated Interest Expense for the last two Fiscal Quarters plus (y) $2,900,000 multiplied by (ii) 4/3; and (d) for the Fiscal Quarter
ending on March 31, 2008 shall be equal to (i) the actual Consolidated Interest Expense for the last three Fiscal Quarters plus (ii) $2,900,000. 
  

					
		  	48	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 5.3 Capital Expenditures. No Group Member shall incur, or permit to be incurred,
Capital Expenditures in the aggregate during each Fiscal Year set forth below in excess of the maximum amount set forth below for such Fiscal Year: 
  

				
	 FISCAL YEAR ENDING
	  	MAXIMUM CAPITAL
EXPENDITURES
	 Fiscal Year 2008
	  	$	13,000,000
	 Fiscal Year 2009
	  	$	13,000,000
	 Fiscal Year 2010
	  	$	13,000,000
	 Fiscal Year 2011
	  	$	13,000,000
	 Fiscal Year 2012
	  	$	13,000,000

 provided, however, that, to the extent that actual Capital Expenditures incurred in any such Fiscal
Year shall be less than the maximum amount set forth above for such Fiscal Year (without giving effect to the carryover permitted by this proviso), 50% of the difference between such stated maximum amount and such actual Capital Expenditures shall,
in addition to any amount permitted above, be available for Capital Expenditures in the next succeeding Fiscal Year; and provided, further, that any Capital Expenditures incurred in any Fiscal Year shall be deemed to have been incurred
first, in respect of amounts permitted pursuant to this Section 5.3 without giving effect to the preceding proviso and then, in respect of any amount permitted solely by reason of the preceding proviso. 
 Section 5.4 Minimum Cumulative EBITDA. The Parent shall not have, on each date listed below, a cumulative Consolidated EBITDA for the
period starting on April 1, 2007 and ending on such date less than the minimum amount set forth opposite such date: 
  

				
	 FISCAL QUARTER ENDING
	  	MINIMUM CONSOLIDATED EBITDA
	 June 30, 2007
	  	$	3,300,000
	 September 30, 2007
	  	$	8,000,000
	 December 31, 2007
	  	$	14,300,000
	 March 31, 2008
	  	$	21,800,000

 ARTICLE 6 
 REPORTING COVENANTS 
 Each of Holdings and the Borrower (and, to the extent set forth in any other Loan
Document, each other Loan Party) agrees with the Lenders and the Administrative Agent to each of the following, as long as any Obligation or any Commitment remains outstanding: 
 Section 6.1 Financial Statements. The Borrower shall deliver to the Administrative Agent each of the following: 
 (a) Monthly Reports. As soon as available, and in any event within 30 days after the end of each of the first two fiscal months in each Fiscal
Quarter, the Consolidated unaudited balance sheet of the Parent and the related unaudited consolidating (of the Parent’s U.S. business) balance sheet as of the close of such fiscal month and related Consolidated and consolidating (of the
Parent’s U.S. business) statements of income and cash flow for such fiscal 

  

					
		  	49	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
month and that portion of the Fiscal Year ending as of the close of such fiscal month, setting forth (i) in the case of any such report delivered with
respect to any fiscal month ending on or before September 30, 2008, the Consolidated Adjusted EBITDA of the Parent for such fiscal month and (ii) in comparative form, the figures for the corresponding period in the prior Fiscal Year, in
each case certified by a Responsible Officer of the Borrower as fairly presenting in all material respects the Consolidated financial position, results of operations and cash flow of the Parent as at the dates indicated and for the periods indicated
in accordance with GAAP (subject to the absence of footnote disclosure and normal year-end audit adjustments). 
 (b) Quarterly
Reports. As soon as available, and in any event within 45 days after the end of each of the first three Fiscal Quarters of each Fiscal Year, the Consolidated unaudited balance sheet of the Parent and related unaudited consolidating (of the
Parent’s U.S. business) balance sheet as of the close of such Fiscal Quarter and related Consolidated and consolidating (of the Parent’s U.S. business) statements of income and cash flow for such Fiscal Quarter and that portion of the
Fiscal Year ending as of the close of such Fiscal Quarter, setting forth (i) in the case of any such report delivered with respect to any Fiscal Quarter ending on or before September 30, 2008, the Consolidated Adjusted EBITDA of the Parent
for such Fiscal Quarter and (ii) in comparative form, the figures for the corresponding period in the prior Fiscal Year and the figures contained in the latest Projections, in each case certified by a Responsible Officer of the Borrower as
fairly presenting in all material respects the Consolidated financial position, results of operations and cash flow of the Parent as at the dates indicated and for the periods indicated in accordance with GAAP (subject to the absence of footnote
disclosure and normal year-end audit adjustments). 
 (c) Annual Reports. As soon as available, and in any event within 90 days after
the end of each Fiscal Year, the Consolidated balance sheet of the Parent as of the end of such year and related Consolidated statements of income, stockholders’ equity and cash flow for such Fiscal Year, including, in the case of any such
report delivered with respect to the Fiscal Year ending March 31, 2008, the Consolidated Adjusted EBITDA of the Parent for such Fiscal Year, each prepared in accordance with GAAP, together with a certification (i) by the Group
Members’ Accountants that (A) such Consolidated Financial Statements (other than the Consolidated Adjusted EBITDA) fairly present in all material respects the Consolidated financial position, results of operations and cash flow of the
Parent as at the dates indicated and for the periods indicated therein in accordance with GAAP without qualification as to the scope of the audit or as to going concern and without any other similar qualification and (B) in the course of the
regular audit of the businesses of the Group Members, which audit was conducted in accordance with the standards of the United States’ Public Company Accounting Oversight Board (or any successor entity), such Group Members’ Accountants
have obtained no knowledge that a Default in respect of any financial covenant contained in Article V is continuing or, if in the opinion of the Group Members’ Accountants such a Default is continuing, a statement as to the nature
thereof and (ii) by a Responsible Officer of the Borrower that such Consolidated Financial Statements fairly present in all material respects the Consolidated financial position, results of operations and cash flow of the Parent as at the dates
indicated and for the periods indicated in accordance with GAAP. 
 (d) Compliance Certificate. Together with each delivery of any
Financial Statement pursuant to clause (b) or (c) above, a Compliance Certificate duly executed by a Responsible Officer of the Borrower that, among other things, (i) shows in reasonable detail the calculations used in
determining the Consolidated Leverage Ratio, and, if delivered together with 

  

					
		  	50	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
any Financial Statement pursuant to clause (c) above, the calculations used in determining Excess Cash Flow, (ii) demonstrates compliance
with each financial covenant contained in Article V that is tested at least on a quarterly basis and (iii) states that no Default is continuing as of the date of delivery of such Compliance Certificate or, if a Default is
continuing, states the nature thereof and the action that the Borrower proposes to take with respect thereto. 
 (e) Corporate Chart and
Other Collateral Updates. As part of the Compliance Certificate delivered pursuant to clause (d) above, each in form and substance satisfactory to the Administrative Agent, a certificate by a Responsible Officer of the Borrower that
(i) the Corporate Chart attached thereto (or the last Corporate Chart delivered pursuant to this clause (e)) is correct and complete as of the date of such Compliance Certificate, (ii) the Loan Parties have delivered all documents
(including updated schedules as to locations of Collateral and acquisition of Intellectual Property or real property) they are required to deliver pursuant to any Loan Document on or prior to the date of delivery of such Compliance Certificate and
(iii) complete and correct copies of all documents modifying any term of any Constituent Document of any Group Member or any Subsidiary or joint venture thereof on or prior to the date of delivery of such Compliance Certificate have been
delivered to the Administrative Agent or are attached to such certificate. 
 (f) Additional Projections. As soon as available and in
any event not later than 45 days after the end of each Fiscal Year, any significant revisions to, (i) the annual business plan of the Group Members for the Fiscal Year next succeeding such Fiscal Year and (ii) forecasts prepared by
management of the Borrower (A) for each Fiscal Quarter in such next succeeding Fiscal Year and (B) for each other succeeding Fiscal Year through the Fiscal Year containing the Final Maturity Date, in each case including in such forecasts
(x) a projected year-end Consolidated balance sheet, income statement and statement of cash flows, (y) a statement of all of the material assumptions on which such forecasts are based and (z) substantially the same type of financial
information as that contained in the Initial Projections. 
 (g) Management Discussion and Analysis. Together with each delivery of
any Compliance Certificate pursuant to clause (d) above, a discussion and analysis of the financial condition and results of operations of the Group Members for the portion of the Fiscal Year then elapsed and discussing the reasons for
any significant variations from the Projections for such period and the figures for the corresponding period in the previous Fiscal Year. 
 (h) Intercompany Loan Balances. Together with each delivery of any Compliance Certificate pursuant to clause (d) above, a summary of the outstanding balances of all intercompany Indebtedness as of the last day of the
Fiscal Quarter covered by such Financial Statement, certified as complete and correct by a Responsible Officer of the Borrower as part of the Compliance Certificate delivered in connection with such Financial Statements. 
 (i) Audit Reports, Management Letters, Etc. Together with each delivery of any Financial Statement for any Fiscal Year pursuant to clause
(c) above, copies of each management letter, audit report or similar letter or report received by any Group Member from any independent registered certified public accountant (including the Group Members’ Accountants) in connection
with such Financial Statements or any audit thereof, each certified to be complete and correct copies by a Responsible Officer of the Borrower as part of the Compliance Certificate delivered in connection with such Financial Statements. 

 

					
		  	51	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (j) Insurance. Together with each delivery of any Financial Statement for any Fiscal Year pursuant
to clause (c) above, each in form and substance reasonably satisfactory to the Administrative Agent and certified as complete and correct by a Responsible Officer of the Borrower as part of the Compliance Certificate delivered in
connection with such Financial Statements, a summary of all material insurance coverage maintained as of the date thereof by any Group Member, together with such other related documents and information as the Administrative Agent may reasonably
require. 
 Section 6.2 Other Events. The Borrower shall give the Administrative Agent notice of each of the following (which
may be made by telephone if promptly confirmed in writing) promptly after any Responsible officer of any Group Member knows or has reason to know of it: (a)(i) any Default and (ii) any event that would have a Material Adverse Effect,
specifying, in each case, the nature and anticipated effect thereof and any action proposed to be taken in connection therewith, (b) any event (other than any event involving loss or damage to property) reasonably expected to result in a
mandatory payment of the Obligations pursuant to Section 2.8, stating the material terms and conditions of such transaction and estimating the Net Cash Proceeds thereof, (c) the commencement of, or any material developments in, any
action, investigation, suit, proceeding, audit, claim, demand, order or dispute with, by or before any Governmental Authority affecting any Group Member or any property of any Group Member that (i) seeks injunctive or similar relief,
(ii) in the reasonable judgment of the Borrower, exposes any Group Member to liability in an aggregate amount in excess of $1,000,000 or (iii) if adversely determined would have a Material Adverse Effect and (d) the acquisition of any
material real property or the entering into any material lease. 
 Section 6.3 Copies of Notices and Reports. The Borrower
shall promptly deliver to the Administrative Agent copies of each of the following: (a) all reports that the Parent or Holdings transmits to its security holders generally, (b) all documents that the Parent or any other Group Member files
with the Securities and Exchange Commission, the National Association of Securities Dealers, Inc., any securities exchange or any Governmental Authority exercising similar functions, (c) all press releases not made available directly to the
general public, (d) all material documents transmitted or received pursuant to, or in connection with, any Related Document and (e) any material document transmitted or received pursuant to, or in connection with, any Contractual
Obligation governing Indebtedness of any Group Member. 
 Section 6.4 Taxes. The Borrower shall give the Administrative Agent
notice of each of the following (which may be made by telephone if promptly confirmed in writing) promptly after any Responsible Officer of any Group Member knows or has reason to know of it: (a) the creation, or filing with the IRS or any
other Governmental Authority, of any Contractual Obligation or other document extending, or having the effect of extending the period for assessment or collection of any federal taxes with respect to any Tax Affiliate, and to the extent such
extensions, individually or in the aggregate, would have a Material Adverse Effect, any other taxes with respect to any Tax Affiliate and (b) the creation of any Contractual Obligation of any Tax Affiliate, or the receipt of any request
directed to any Tax Affiliate, to make any adjustment under Section 481(a) of the Code, by reason of a change in accounting method or otherwise, which would have a Material Adverse Effect. 
 Section 6.5 Labor Matters. The Borrower shall give the Administrative Agent notice of each of the following (which may be made by telephone
if promptly confirmed in writing), promptly after, and in any event within 30 days after any Responsible Officer of any Group Member knows or has reason to know of it: (a) the commencement of any material labor 

  

					
		  	52	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
dispute to which any Group Member is or may become a party, including any strikes, lockouts or other disputes relating to any of such Person’s plants
and other facilities and (b) the incurrence by any Group Member of any Worker Adjustment and Retraining Notification Act or related or similar liability incurred with respect to the closing of any plant or other facility of any such Person
(other than, in the case of this clause (b), those that would not, in the aggregate, have a Material Adverse Effect). 
 Section
6.6 ERISA Matters. The Borrower shall give the Administrative Agent (a) on or within 15 Business Days following any filing by any ERISA Affiliate of any notice of intent to terminate any Title IV Plan, a copy of such notice and
(b) promptly, and in any event within 15 Business Days, after any Responsible Officer of any ERISA Affiliate knows or has reason to know that a request for a minimum funding waiver under Section 412 of the Code has been filed with respect
to any Title IV Plan or Multiemployer Plan, a notice (which may be made by telephone if promptly confirmed in writing) describing such waiver request and any action that any ERISA Affiliate proposes to take with respect thereto, together with a
copy of any notice filed with the PBGC or the IRS pertaining thereto. 
 Section 6.7 Environmental Matters. (a) The
Borrower shall provide the Administrative Agent notice of each of the following (which may be made by telephone if promptly confirmed by the Administrative Agent in writing) promptly after any Responsible Officer of any Group Member knows or has
reason to know of it (and, upon reasonable request of the Administrative Agent, documents and information in connection therewith): (i)(A) unpermitted Releases, (B) the receipt by any Group Member of any notice of violation of or potential
liability or similar notice under, or the existence of any condition that could reasonably be expected to result in violations of or liabilities under, any Environmental Law or (C) the commencement of, or any material change to, any action,
investigation, suit, proceeding, audit, claim, demand, dispute alleging a violation of or liability under any Environmental Law, that, for each of clauses (A), (B) and (C) above (and, in the case of
clause (C), if adversely determined), in the aggregate for each such clause, could reasonably be expected to result in Environmental Liabilities in excess of $1,000,000, (ii) the receipt by any Group Member of notification that any
property of any Group Member is subject to any Lien in favor of any Governmental Authority securing, in whole or in part, Environmental Liabilities and (iii) any proposed acquisition or lease of real property (except as part of any Permitted
Acquisition) if such acquisition or lease would have a reasonable likelihood of resulting in aggregate Environmental Liabilities in excess of $1,000,000. 
 (b) Upon request of the Administrative Agent, the Borrower shall provide the Administrative Agent a report containing an update as to the status of any environmental, health or safety compliance, hazard or liability
issue identified in any document delivered to any Secured Party pursuant to any Loan Document or as to any condition reasonably believed by the Administrative Agent to result in material Environmental Liabilities. 
 (c) Other Information. The Borrower shall provide the Administrative Agent with such other documents and information with respect to the business,
property, condition (financial or otherwise), legal, financial or corporate or similar affairs or operations of any Group Member as the Administrative Agent or such Lender through the Administrative Agent may from time to time reasonably request.

  

					
		  	53	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 ARTICLE 7 
 AFFIRMATIVE COVENANTS 
 Each of Holdings and the Borrower (and, to the extent set forth in any other Loan
Document, each other Loan Party) agrees with the Lenders and the Administrative Agent to each of the following, as long as any Obligation or any Commitment remains outstanding: 
 Section 7.1 Maintenance of Corporate Existence. Each Group Member shall (a) preserve and maintain its legal existence, except in the
consummation of transactions expressly permitted by Sections 8.4 and 8.7 or, in the case of any Group Member other than any Loan Party, where the failure to do so would not in the aggregate have a Material Adverse Effect, and
(b) preserve and maintain it rights (charter and statutory), privileges franchises and Permits necessary or desirable in the conduct of its business, except, in the case of this clause (b), where the failure to do so would not, in the
aggregate, have a Material Adverse Effect. 
 Section 7.2 Compliance with Laws, Etc. Each Group Member shall comply with all
applicable Requirements of Law, Contractual Obligations and Permits, except for such failures to comply that would not, in the aggregate, have a Material Adverse Effect. 
 Section 7.3 Payment of Obligations. Each Group Member shall pay or discharge before they become delinquent (a) all material claims, taxes, assessments, charges and levies imposed by any Governmental
Authority and (b) all other lawful claims that if unpaid would, by the operation of applicable Requirements of Law, become a Lien (other than Permitted Liens) upon any property of any Group Member, except, in each case, for those whose amount
or validity is being contested in good faith by proper proceedings diligently conducted and for which adequate reserves are maintained on the books of the appropriate Group Member in accordance with GAAP. 
 Section 7.4 Maintenance of Property. Each Group Member shall maintain and preserve (a) in good working order and condition all of its
property necessary in the conduct of its business and (b) all rights, permits, licenses, approvals and privileges (including all Permits) necessary, used or useful, whether because of its ownership, lease, sublease or other operation or
occupation of property or other conduct of its business, and shall make all necessary or appropriate filings with, and give all required notices to, Government Authorities, except for such failures to maintain and preserve the items set forth in
clauses (a) and (b) above that would not, in the aggregate, have a Material Adverse Effect. 
 Section 7.5
Maintenance of Insurance. The Group Members shall (a) maintain or cause to be maintained in full force and effect all policies of insurance of any kind with respect to the property and businesses of the Group Members (including policies
of life, fire, theft, product liability, public liability, property damage, other casualty, employee fidelity, workers’ compensation, business interruption and employee health and welfare insurance) with financially sound and reputable
insurance companies or associations (in each case that are not Affiliates of the Borrower) of a nature and providing such coverage as is sufficient and as is customarily carried by businesses of the size and character of the business of the Group
Members and (b) cause all such insurance relating to any property or business of any Loan Party to name the Collateral Agent on behalf of the Secured Parties as additional insured or loss payee, as appropriate, and to provide that no
cancellation, material addition in amount or material change in coverage shall be effective until after 30 days’ notice thereof to the Administrative Agent. 
  

					
		  	54	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 7.6 Keeping of Books. The Parent and the Loan Parties shall keep proper books of
record and account, in which full, true and correct entries shall be made in accordance, in all material respects, with GAAP and all other applicable Requirements of Law of all financial transactions and the assets and business of the Parent and
each Loan Party. 
 Section 7.7 Access to Books and Property. Each Loan Party shall permit the Administrative Agent, the
Lenders (but only if a Default or Event of Default is continuing) and any Related Person of any of them, as often as reasonably requested, at any reasonable time during normal business hours and with reasonable advance notice (except that, during
the continuance of an Event of Default, no such notice shall be required) to (a) visit and inspect the property of each Loan Party and examine and make copies of and abstracts from, the corporate (and similar), financial, operating and other
books and records of each Loan Party, (b) discuss the affairs, finances and accounts of each Loan Party with any officer or director of any Loan Party and (c) communicate directly with any registered certified public accountants (including
the Loan Party’ Accountants) of any Loan Party. Each Loan Party shall authorize their respective registered certified public accountants (including the Loan Party’ Accountants) to communicate, in the presence of Responsible Officers,
directly with the Administrative Agent, the Lenders (but only if a Default or Event of Default is continuing) and their Related Persons and to disclose to the Administrative Agent, the Lenders and their Related Persons all financial statements and
other documents and information as they might have and the Administrative Agent or any Lender reasonably requests with respect to any Loan Party. 
 Section 7.8 Environmental. Each Group Member shall comply with, and maintain its real property, whether owned, leased, subleased or otherwise operated or occupied, in compliance with, all applicable Environmental Laws
(including by implementing any Remedial Action necessary to achieve such compliance or that is required by orders and directives of any Governmental Authority) except for failures to comply that would not, in the aggregate, have a Material Adverse
Effect. Without limiting the foregoing, if an Event of Default is continuing or if the Administrative Agent at any time has a reasonable basis to believe that there exist violations of Environmental Laws by any Group Member or that there exist any
Environmental Liabilities, in each case, that would have, in the aggregate, a Material Adverse Effect, then each Group Member shall, promptly upon receipt of request from the Administrative Agent, cause the performance of, and allow the
Administrative Agent and its Related Persons access to such real property for the purpose of conducting, such environmental audits and assessments, including subsurface sampling of soil and groundwater, and cause the preparation of such reports, in
each case as the Administrative Agent may from time to time reasonably request. Such audits, assessments and reports, to the extent not conducted by the Administrative Agent or any of its Related Persons, shall be conducted and prepared by reputable
environmental consulting firms reasonably acceptable to the Administrative Agent and shall be in form and substance reasonably acceptable to the Administrative Agent. 
 Section 7.9 Use of Proceeds. The proceeds of the Loans shall be used by the Borrower (and, to the extent distributed to them by the Borrower, each other Group Member) solely (a) to consummate the
Related Transactions and for the payment of related transaction costs, fees and expenses, (b) for the payment of transaction costs, fees and expenses incurred in connection with the Loan Documents and the transactions contemplated therein and
(c) for working capital and general corporate and similar purposes. 
  

					
		  	55	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 7.10 Additional Collateral and Guaranties. To the extent not delivered to the
Collateral Agent on or before the Closing Date (including in respect of after- acquired property and Persons that become Subsidiaries of any Loan Party after the Closing Date), each Group Member shall, promptly, do each of the following, unless
otherwise agreed by the Collateral Agent: 
 (a) deliver to the Collateral Agent such modifications to the terms of the Loan Documents (or,
to the extent applicable as determined by the Collateral Agent, such other documents), in each case in form and substance reasonably satisfactory to the Collateral Agent and as the Collateral Agent deems necessary or advisable in order to ensure the
following: 
 (i) (A) each Subsidiary of any Loan Party that has entered into Guaranty Obligations with respect to any
Indebtedness of the Borrower and (B) each Wholly Owned Subsidiary (other than an Inactive Subsidiary) of any Loan Party shall guaranty, as primary obligor and not as surety, the payment of the Obligations of the Borrower; and 
 (ii) each Loan Party (including any Person required to become a Guarantor pursuant to clause (i) above) shall effectively
grant to the Collateral Agent, for the benefit of the Secured Parties, a valid and enforceable security interest in all of its property, including all of its Stock and Stock Equivalents and other Securities, as security for the Obligations of such
Loan Party; 
 provided, however, that, unless the Borrower and the Collateral Agent otherwise agree, in no event shall (x) any Excluded
Foreign Subsidiary be required to guaranty the payment of any Obligation, (y) the Loan Parties, individually or collectively, be required to pledge in excess of 66% of the outstanding Voting Stock of any Excluded Foreign Subsidiary or
(z) a security interest be required to be granted on any property of any Excluded Foreign Subsidiary as security for any Obligation; 
 (b) deliver to the Collateral Agent all documents representing all Stock, Stock Equivalents and other Securities pledged pursuant to the documents delivered pursuant to clause (a) above, together with undated powers or
endorsements duly executed in blank; 
 (c) upon request of the Collateral Agent, deliver to it a Mortgage on any real property owned by any
Loan Party, together with all Mortgage Supporting Documents relating thereto (or, if such real property or the real property subject to such lease is located in a jurisdiction outside the United States, similar documents deemed appropriate by the
Collateral Agent to obtain the equivalent in such jurisdiction of a first-priority mortgage on such real property or lease); 
 (d) unless
otherwise agreed by the Administrative Agent, to take all other actions necessary or advisable to ensure the validity or continuing validity of any guaranty for any Obligation or any Lien securing any Obligation, to perfect, maintain, evidence or
enforce any Lien securing any Obligation or to ensure such Liens have the same priority as that of the Liens on similar Collateral set forth in the Loan Documents executed on the Closing Date (or, for Collateral located outside the United States, a
similar priority acceptable to the Collateral Agent), including the filing of UCC financing statements in such jurisdictions as may be required by the Loan Documents or applicable Requirements of Law or as the Collateral Agent may otherwise
reasonably request; and 
  

					
		  	56	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (e) deliver to the Collateral Agent legal opinions relating to the matters described in this
Section 7.10, which opinions shall be as reasonably required by, and in form and substance and from counsel reasonably satisfactory to, the Collateral Agent. 
 Section 7.11 Deposit Accounts; Securities Accounts and Cash Collateral Accounts. (a) Each Loan Party (other than Excluded Foreign Subsidiaries) shall (i) deposit all of its cash in deposit
accounts that are Controlled Deposit Accounts; provided, however, that each Loan Party may maintain zero-balance accounts for the purpose of managing local disbursements and may maintain payroll, withholding tax and other fiduciary
accounts; and (ii) deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts, in each case, except for cash and Cash Equivalents the aggregate value of which does not exceed $500,000 at any time.

 (b) The Agents shall not have any responsibility for, or bear any risk of loss of, any investment or income of any funds in any Cash
Collateral Account. From time to time after funds are deposited in any Cash Collateral Account, the Collateral Agent may apply funds then held in such Cash Collateral Account to the payment of Obligations in accordance with Section 2.12.
No Group Member and no Person claiming on behalf of or through any Group Member shall have any right to demand payment of any funds held in any Cash Collateral Account at any time prior to the termination of all Commitments and the payment in full
of all Obligations. 
 Section 7.12 Interest Rate Contracts. The Borrower shall, within 180 days after the Closing Date, enter
into and thereafter maintain Interest Rate Contracts on terms and with counterparties reasonably satisfactory to the Administrative Agent, to provide protection against fluctuation of interest rates until the 3rd anniversary of the Closing Date for
a notional amount that, when added to the aggregate principal amount of Consolidated Total Debt of Parent bearing interest at a fixed rate, equals at least 50% of the sum of the aggregate principal amount Obligations in respect of the Facility
plus the aggregate principal amount of Indebtedness represented by First Lien Obligations. 
 Section 7.13 Credit
Rating. At the request of the Administrative Agent, the Borrower shall at all times use its commercially reasonable efforts to obtain and to cause a credit rating by S&P or by Moody’s to be maintained with respect to the Facility and
Borrower hereunder. 
 Section 7.14 Redemption of Existing Notes. On the Closing Date, the Borrower shall deposit $249,145,000,
plus an amount equal to the accrued and unpaid interest through the redemption date into a Cash Collateral Account, which deposit, as long as no Default or an Event of Default shall be continuing, shall be released to the Borrower by the
Administrative Agent and the Collateral Agent upon the date on which the Senior Notes and the Subordinated Notes are required to be redeemed pursuant to the Redemption Notices, the Senior Notes Indenture and the Subordinated Notes Indenture. The
Borrower shall cause the Senior Notes and the Subordinated Notes to be redeemed in full on or prior to the 45th date following the Closing Date. 
  

					
		  	57	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 ARTICLE 8 
 NEGATIVE COVENANTS 
 Each of Holdings and the Borrower (and, to the extent set forth in any other Loan
Document, each other Loan Party) agrees with the Lenders and the Administrative Agent to each of the following, as long as any Obligation or any Commitment remains outstanding: 
 Section 8.1 Indebtedness. No Group Member shall, directly or indirectly, incur or otherwise remain liable with respect to or responsible
for, any Indebtedness except for the following: 
 (a) the Obligations; 
 (b) the First Lien Obligations and other Indebtedness existing on the date hereof and set forth on Schedule 8.1, together with any Permitted
Refinancing of any Indebtedness permitted hereunder in reliance upon this clause (b); 
 (c) Indebtedness consisting of Capitalized
Lease Obligations (other than with respect to a lease entered into as part of a Sale and Leaseback Transaction) and purchase money Indebtedness, in each case incurred by any Loan Party (other than Holdings) to finance the acquisition, repair,
improvement or construction of fixed or capital assets of such Loan Party or any Permitted Acquisition, together with any Permitted Refinancing of any Indebtedness permitted hereunder in reliance upon this clause (c); provided,
however, that (i) the aggregate outstanding principal amount of all such Indebtedness does not exceed $3,000,000 at any time and (ii) the principal amount of such Indebtedness does not exceed the lower of the cost or fair market
value of the property so acquired or built (at the time of such acquisition) or of such repairs or improvements financed, whether directly or through a Permitted Refinancing, with such Indebtedness (each measured at the time such acquisition,
repair, improvement or construction is made); 
 (d) intercompany Indebtedness constituting Permitted Investments among the Group Members;

 (e) (i) obligations under Interest Rate Contracts entered into to comply with Section 7.12 and (ii) obligations under
other Hedging Agreements entered into for the sole purpose of hedging in the ordinary course of business; 
 (f) Guaranty Obligations of any
Loan Party with respect to Indebtedness, lease, dividend or other obligation of any Loan Party other than Holdings; and, so long as the same constitutes a Permitted Investment, Guaranty Obligations with respect to Indebtedness, lease, dividend or
other obligation of any Person that is not a Loan Party; 
 (g) any Indebtedness of any Loan Party (other than Holdings); provided,
however, that the aggregate outstanding principal amount of all such Indebtedness shall not exceed $1,200,000 at any time. 
 Section 8.2 Liens. No Group Member shall incur, maintain or otherwise suffer to exist any Lien upon or with respect to any of its property, whether now owned or hereafter acquired, or assign any right to receive income or
profits, except for the following: 
 (a) Liens created pursuant to any Loan Document and the First Lien Loan Documents; 
  

					
		  	58	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (b) Customary Permitted Liens of Group Members; 
 (c) Liens set forth on Schedule 8.2; 
 (d) Liens on the property of any Loan Party securing Indebtedness permitted hereunder in reliance upon Section 8.1(c); provided, however, that (i) such Liens exist prior to the acquisition of, or attach
substantially simultaneously with, or within 90 days after, the acquisition, repair, improvement or construction of, such property financed, whether directly or through a Permitted Refinancing, by such Indebtedness and (ii) such Liens do not
extend to any property of any Loan Party other than the property (and proceeds thereof) acquired or built, or the improvements or repairs, financed, whether directly or through a Permitted Refinancing, by such Indebtedness; 
 (e) Liens on the property of the Loan Parties securing the Permitted Refinancing of any Indebtedness secured by any Lien on such property permitted
hereunder in reliance upon clause (c) or (d) above or this clause (e) without any change in the property subject to such Liens; 
 (f) Liens on assets of Group Members that are not Loan Parties securing Indebtedness or other liabilities owed to any Loan Party; 
 (g) Liens on assets acquired in any Permitted Acquisition, which Liens exist at the time such assets are acquired and were not created in anticipation of such acquisition; and 
 (h) Liens on any property of the Loan Parties securing any of their Indebtedness or their other liabilities; provided, however, that the
aggregate outstanding principal amount of all such Indebtedness and other liabilities shall not exceed $3,000,000 at any time. 
 Section
8.3 Investments. No Group Member shall make or maintain, directly or indirectly, any Investment except for the following: 
 (a)
Investments existing on the date hereof and set forth on Schedule 8.3; 
 (b) Investments in cash and Cash Equivalents;

 (c) (i) endorsements for collection or deposit in the ordinary course of business consistent with past practice, (ii) extensions of
trade credit (other than to Affiliates of the Borrower that are not Loan Parties) arising or acquired in the ordinary course of business and (iii) Investments received in settlements in the ordinary course of business of such extensions of
trade credit; 
 (d) Investments made as part of a Permitted Acquisition or constituting Capital Expenditures permitted by this Agreement;

 (e) Investments by (i) Holdings in the Borrower, (ii) any Loan Party (other than Holdings) in any other Loan Party (other than
Holdings), (iii) any Group Member that is not a Loan Party in any other Group Member; and provided, however, that any Investment consisting of loans or advances to any Loan Party pursuant to clause (iii) above shall be
subordinated in full to the payment of the Obligations of such Loan Party on terms and conditions satisfactory to the Administrative Agent; 
  

					
		  	59	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (f) loans and advances to Parent (or an intermediate parent of Holdings) for the purpose of funding any
item described in Section 8.5(c)(i), (ii), (iii) or (iv); provided, however, that the aggregate outstanding amount of such loans and advances in respect of any such clause, when taken together with
any applicable Restricted Payment made pursuant to such clause, shall not exceed the amount permitted by such clause; 
 (g) loans or
advances to employees of the Borrower or any of its Subsidiaries to finance travel, entertainment and relocation expenses and other ordinary business purposes in the ordinary course of business as presently conducted; provided,
however, that the aggregate outstanding principal amount of all loans and advances permitted pursuant to this clause (f) shall not exceed $100,000 at any time; and 
 (h) any Investment not otherwise permitted above; provided, however, that the aggregate outstanding amount of all such Investments shall
not exceed $1,200,000 at any time. 
 Section 8.4 Asset Sales. No Group Member shall Sell any of its property (other than cash)
or issue shares of its own Stock, except for the following: 
 (a) In each case to the extent entered into in the ordinary course of business
and made to a Person that is not an Affiliate of the Borrower, (i) Sales of Cash Equivalents, inventory or property that has become damaged, defective, surplus, obsolete or worn out or that is no longer useful in the business of any Group
Member and (ii) non-exclusive licenses of Intellectual Property; 
 (b) (i) a true lease or sublease of real property not constituting
Indebtedness and not entered into as part of a Sale and Leaseback Transaction and (ii) Permitted Liens; 
 (c) (i) any Sale of any
property (other than their own Stock or Stock Equivalents) by any Group Member to any other Group Member to the extent any resulting Investment constitutes a Permitted Investment, (ii) any Restricted Payment by any Group Member permitted
pursuant to Section 8.5 and (iii) any distribution by Holdings of the proceeds of Restricted Payments from any other Group Member to the extent permitted in Section 8.5; 
 (d) (i) any Sale or issuance by Parent of its own Stock, (ii) any Sale or issuance by the Borrower of its own Stock to Holdings, (iii) any Sale
or issuance by any Subsidiary of the Borrower of its own Stock to the Borrower or the parent of such Subsidiary, provided, however, that the proportion of such Stock and of each class of such Stock (both on an outstanding and
fully-diluted basis) held by the Loan Parties (other than Holdings), taken as a whole, does not change as a result of such Sale or issuance and (iv) to the extent necessary to satisfy any Requirement of Law in the jurisdiction of incorporation
of any Subsidiary of the Borrower, any Sale or issuance by such Subsidiary of its own Stock constituting directors’ qualifying shares or nominal holdings; 
 (e) as long as no Default is continuing or would result therefrom, any Sale of property (other than as part of a Sale and Leaseback Transaction) of, or Sale or issuance of its own Stock by, any Group Member (other
than Holdings) for fair market value payable in cash upon such sale; provided, however, that the aggregate consideration received for all such Sales shall not exceed $6,000,000; and 
  

					
		  	60	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (f) any dissolution or liquidation of an Inactive Subsidiary. 
 Section 8.5 Restricted Payments. No Group Member shall directly or indirectly, declare, order, pay, make or set apart any sum for any
Restricted Payment except for the following (and Parent shall not use the proceeds of any Restricted Payment made in reliance under clause (c) below other than as set forth in such clause (c)): 
 (a) (i) Restricted Payments (A) by any Loan Party to any Loan Party and (B) by any Group Member that is not a Loan Party to any Group Member
and (ii) dividends and distributions by any Subsidiary of the Borrower that is not a Loan Party to any holder of its Stock, to the extent made to all such holders ratably according to their ownership interests in such Stock; 
 (b) dividends and distributions declared and paid on the common Stock of any Group Member ratably to the holders of such common Stock and payable only in
common Stock of such Group Member and (ii) any issuance of common Stock by the Parent to the extent the proceeds thereof are used to redeem all or any portion of the outstanding Convertible Participating Shares of the Parent in a single
transaction; and 
 (c) subject to Section 8.3(f), cash dividends to the Parent, directly or indirectly through one or more parents of
the Borrower, paid and declared solely for the purpose of funding the following: 
 (i) payments by the Parent in respect of
taxes owing by the Parent in respect of the other Group Members; 
 (ii) ordinary operating expenses of the Parent;
provided, however, that the amount of such cash dividends paid in the Fiscal Year ending March 31, 2008 shall not exceed $2,000,000 in the aggregate and in any Fiscal Year thereafter shall not exceed $1,000,000 in the aggregate;

 (iii) $2,000,000 per Fiscal Year to pay liabilities listed on Schedule 8.5(c) or otherwise in respect of
transactions or circumstances arising prior to the date hereof; and 
 (iv) the transactions contemplated by the Redemption
Notices not to exceed $249,145,000 plus an amount equal to the accrued and unpaid interest through the redemption date. 
 provided,
however, that no action that would otherwise be permitted hereunder in reliance upon this clause (c) (other than clause (i) or (ii) above) shall be permitted if (A) a Default is then continuing or
would result therefrom or (B) such action is otherwise prohibited under any Loan Document or under the terms of any Indebtedness (other than the Obligations) of any Group Member. 
  

					
		  	61	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 8.6 Prepayment of Indebtedness. No Group Member shall (x) prepay, redeem,
purchase, defease or otherwise satisfy prior to the scheduled maturity thereof any Subordinated Debt, (y) set apart any property for such purpose, whether directly or indirectly and whether to a sinking fund, a similar fund or otherwise, or
(z) make any payment in violation of any subordination terms of any Indebtedness; provided, however, that each Group Member may, to the extent otherwise permitted by the Loan Documents, do each of the following: 
 (a) consummate a Permitted Refinancing; 
 (b) prepay, redeem, purchase, defease or otherwise satisfy prior to the scheduled maturity thereof (or set apart any property for such purpose), any Indebtedness owing to any Loan Party; and 
 (c) make regularly scheduled or otherwise required repayments or redemptions of Indebtedness (other than Indebtedness owing to any Affiliate of the
Borrower) but only, in the case of Subordinated Debt, to the extent permitted by the subordination provisions thereof. 
 Section 8.7
Fundamental Changes. No Group Member shall (a) merge, consolidate, amalgamate or complete a similar transaction with any Person, (b) acquire all or substantially all of the Stock or Stock Equivalents of any Person or
(c) acquire any brand or all or substantially all of the assets of any Person or all or substantially all of the assets constituting any line of business, division, branch, operating division or other unit operation of any Person, in each case,
except for the following: (i) in connection with the formation of any Loan Party that is a Permitted Investment, (ii) to consummate any Permitted Acquisition, (iii) any such transaction between any Group Member and any other Group
Member and (iv) any such transaction involving any Group Member for the sole purpose, and with the sole material effects, of changing its State of organization within the United States, delisting its Securities on securities exchanges outside
of the United States and diminishing regulation by governmental and quasi-governmental authorities outside the United States, subject to compliance with Section 7.10(d); provided, however, that (A) in the case of any
such transaction involving the Borrower, the Borrower shall be the surviving Person, (B) in the case of any such transaction involving any other Loan Party, a Loan Party shall be the surviving corporation and all actions required to maintain
the perfection of the Lien of the Collateral Agent on the Stock or property of such Loan Party shall have been made and (C) in the case of any such transaction involving the Parent, the Transitional Parent shall be the surviving or continuing
Person. 
 Section 8.8 Change in Nature of Business. (a) No Group Member shall carry on any business, operations or
activities (whether directly, through a joint venture, in connection with a Permitted Acquisition or otherwise) substantially different from those carried on by the Group Members at the date hereof and business, operations and activities reasonably
related thereto. 
 (b) Holdings shall not engage in any business, operations or activity, or hold any property, other than (i) holding
Stock and Stock Equivalents of its Subsidiaries (all of which, other than the Loan Parties, shall be Inactive Subsidiaries) and intercompany Indebtedness owed by the other Group Members permitted under Section 8.3, (ii) ownership of
certain of the Intellectual Property utilized by the Group Members, (iii) paying taxes on behalf of the Loan Parties, (iv) holding directors’ and shareholders’ meetings, preparing corporate and similar records and other
activities required to maintain its separate corporate or other legal structure, (v) preparing reports to, and preparing and making notices to and filings with, Governmental Authorities and to its holders of Stock and Stock Equivalents (if
applicable), (vi) receiving, and holding proceeds of, Restricted Payments from the Borrower and its Subsidiaries and distributing the proceeds thereof to the extent permitted in Section 8.5 and (vii) activities incidental to
any of the foregoing. 
  

					
		  	62	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (c) The Parent shall not engage in any business, operations or activity, or hold any property, other than
(i) holding Stock and Stock Equivalents of its Subsidiaries (all of which, other than Holdings, shall be Inactive Subsidiaries), (ii) issuing, selling and redeeming its own Stock, (ii) paying taxes on behalf of the Group Members,
(iii) holding directors’ and shareholders’ meetings, preparing corporate and similar records and other activities required to maintain its separate corporate or other legal structure, (iv) preparing reports to, and preparing and
making notices to and filings with, Governmental Authorities and to its holders of Stock and Stock Equivalents, (v) receiving, and holding proceeds of, Restricted Payments from the Group Members and distributing the proceeds thereof to the
extent permitted in Section 8.5, (vi) paying when due liabilities of the Parent to the extent not prohibited by this Agreement and (vii) activities incidental to any of the foregoing. 
 (d) None of the Inactive Subsidiaries shall engage in any business, operations or activity other than activities in connection with, or incidental to,
winding up of the non-U.S. business operations of the Group Members. 
 Section 8.9 Transactions with Affiliates. No Group
Member shall, except as otherwise expressly permitted herein, enter into any other transaction directly or indirectly with, or for the benefit of, any Affiliate of the Borrower that is not a Loan Party (including Guaranty Obligations with respect to
any obligation of any such Affiliate), except for (a) transactions on a basis no less favorable to such Group Member as would be obtained in a comparable arm’s length transaction with a Person not an Affiliate of the Borrower,
(b) Restricted Payments, the proceeds of which, if received by the Parent, are used as required by Section 8.5, (c) reasonable salaries and other reasonable director or employee compensation to officers and directors of any
Group Member, (d) transactions that were entered into prior to the date hereof and listed on Schedule 8.9 and (e) activities in connection with, or incidental to, winding up of the non-U.S. business operations of the Group Members

 Section 8.10 Third-Party Restrictions on Indebtedness, Liens, Investments or Restricted Payments. No Group Member shall
incur or otherwise suffer to exist or become effective or remain liable on or responsible for any Contractual Obligation limiting the ability of (a) any Subsidiary of the Borrower to make Restricted Payments to, or Investments in, or repay
Indebtedness or otherwise Sell property to, any Loan Party (other than Holdings) or (b) any Loan Party to incur or suffer to exist any Lien upon any property of any Loan Party, whether now owned or hereafter acquired, securing any of its
Obligations (including any “equal and ratable” clause and any similar Contractual Obligation requiring, when a Lien is granted on any property, another Lien to be granted on such property or any other property), except, for each of
clauses (a) and (b) above, (i) pursuant to the Loan Documents and the First Lien Loan Documents, (ii) limitations on Liens on any property whose acquisition, repair, improvement or construction is financed by
purchase money Indebtedness, Capitalized Lease Obligations or Permitted Refinancings permitted hereunder in reliance upon Section 8.1 set forth in the Contractual Obligations governing such Indebtedness, Capitalized Lease Obligations or
Permitted Refinancing or Guaranty Obligations with respect thereto, (iii) pursuant to any Contractual Obligation for any Sale permitted hereby, so long as such Contractual Obligation only relates to the assets to be Sold, and (iv) pursuant
to customary provisions restricting assignment, subletting or other Sales contained in leases, licenses and joint venture agreements, but only so long as such restrictions do not extend to any assets not subject to such lease, license or joint
venture agreement. 
  

					
		  	63	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 8.11 Modification of Certain Documents. No Group Member shall do any of the
following: 
 (a) waive or otherwise modify any term of any Related Document (other than the terms of any Subordinated Debt or any First Lien
Loan Documents) or any Constituent Document of, or otherwise change the capital structure of, any Group Member (including the terms of any of their outstanding Stock or Stock Equivalents, including the Convertible Participating Shares), in each case
except for those modifications and waivers that (x) do not elect, or permit the election, to treat the Stock or Stock Equivalents of any limited liability company (or similar entity) as certificated and (y) do not materially affect the
rights and privileges of any Group Member and do not materially affect the interests of any Secured Party under the Loan Documents or in the Collateral; 
 (b) waive or otherwise modify any term of any Subordinated Debt (or any documentation governing Subordinated Debt) if the effect thereof on such Subordinated Debt is to (i) increase the interest rate,
(ii) change the due dates for principal or interest, other than to extend such dates, (iii) modify any default or event of default, other than to delete it or make it less restrictive, (iv) add any covenant with respect thereto,
(v) modify any subordination provision, (vi) modify any redemption or prepayment provision, other than to extend the dates therefor or to reduce the premiums payable in connection therewith or (vii) materially increase any obligation
of any Group Member or confer additional material rights to the holder of such Subordinated Debt in a manner adverse to any Group Member or any Secured Party; 
 (c) waive or otherwise modify any term of the First Lien Loan Documents in a manner inconsistent with the terms of the Intercreditor Agreement (as the same may be modified or waived); and 
 (d) permit the Obligations to cease qualifying as such or as “Senior Debt” under any documentation governing Subordinated Debt.

 Section 8.12 Accounting Changes; Fiscal Year. No Group Member shall change its (a) accounting treatment or reporting
practices, except as required by GAAP or any Requirement of Law, or (b) its fiscal year or its method for determining fiscal quarters or fiscal months. 
 Section 8.13 Margin Regulations. No Group Member shall use all or any portion of the proceeds of any credit extended hereunder to purchase or carry margin stock (within the meaning of Regulation U of the
Federal Reserve Board) in contravention of Regulation U of the Federal Reserve Board. 
 Section 8.14 Compliance with ERISA.
Neither the Borrower nor any Loan Party shall cause or suffer to exist (a) any event that could result in the imposition of a Lien with respect to any Title IV Plan or Multiemployer Plan which Lien would not be permitted under Section 8.2
or (b) any other ERISA Event, that would, in the aggregate, have a Material Adverse Effect. 
  

					
		  	64	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 8.15 Hazardous Materials. No Group Member shall cause or suffer to exist any
Release of any Hazardous Material at, to or from any real property owned, leased, subleased or otherwise operated or occupied by any Group Member that would violate any Environmental Law, form the basis for any Environmental Liabilities or otherwise
adversely affect the value or marketability of any real property (whether or not owned by any Group Member), other than such violations, Environmental Liabilities and effects that would not, in the aggregate, have a Material Adverse Effect.

 ARTICLE 9 
 EVENTS OF DEFAULT

 Section 9.1 Definition. Each of the following shall be an Event of Default: 
 (a) the Borrower shall fail to pay (i) any principal of any Loan when the same becomes due and payable or (ii) any interest on any Loan, any
fee under any Loan Document or any other Obligation (other than those set forth in clause (i) above) and, in the case of this clause (ii), such non-payment continues for a period of 3 Business Days after the due date
therefor; or 
 (b) any representation, warranty or certification made or deemed made by or on behalf of any Loan Party in any Loan Document
or by or on behalf of any Loan Party (or any Responsible Officer thereof) in connection with any Loan Document (including in any document delivered in connection with any Loan Document) shall prove to have been incorrect in any material respect when
made or deemed made; or 
 (c) any Loan Party shall fail to comply with (i) any provision of Article V (Financial
Covenants), Section 6.1 (Financial Statements), 6.2(a)(i) (Other Events), 7.1 (Maintenance of Corporate Existence), 7.9 (Use of Proceeds), 7.14 (Redemption of Existing Notes) or Article VIII
(Negative Covenants) or (ii) any other provision of any Loan Document if, in the case of this clause (ii), such failure shall remain unremedied for 30 days after the earlier of (A) the date on which a Responsible Officer of the Borrower
becomes aware of such failure and (B) the date on which notice thereof shall have been given to the Borrower by the Administrative Agent or the Required Lenders; or 
 (d) (i) any Group Member shall fail to make any payment when due (whether due because of scheduled maturity, required prepayment provisions, acceleration, demand or otherwise) on any Indebtedness of any Group Member
(other than the Obligations) and, in each case, such failure relates to Indebtedness having a principal amount of $3,000,000 or more, (ii) any other event shall occur or condition shall exist under any Contractual Obligation relating to any
such Indebtedness, if the effect of such event or condition is to accelerate, or to permit the acceleration of, the maturity of such Indebtedness or (iii) any such Indebtedness (other than the Senior Notes and the Subordinated Notes) shall
become or be declared to be due and payable, or be required to be prepaid, redeemed, defeased or repurchased (other than by a regularly scheduled required prepayment or mandatory prepayment with proceeds of dispositions of assets financed by and
securing such Indebtedness), prior to the stated maturity thereof; or 
 (e) (i) any Group Member shall generally not pay its debts as such
debts become due, shall admit in writing its inability to pay its debts generally or shall make a general assignment for the benefit of creditors, (ii) any proceeding shall be instituted by or against any Group Member seeking to adjudicate it a
bankrupt or insolvent or seeking liquidation, winding 

  

					
		  	65	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
up, reorganization, arrangement, adjustment, protection, relief, composition of it or its debts or any similar order, in each case under any Requirement of
Law relating to bankruptcy, insolvency or reorganization or relief of debtors or seeking the entry of an order for relief or the appointment of a custodian, receiver, trustee, conservator, liquidating agent, liquidator, other similar official or
other official with similar powers, in each case for it or for any substantial part of its property and, in the case of any such proceedings instituted against (but not by or with the consent of) any Group Member, either such proceedings shall
remain undismissed or unstayed for a period of 60 days or more or any action sought in such proceedings shall occur or (iii) any Group Member shall take any corporate or similar action or any other action to authorize any action described
in clause (i) or (ii) above; or 
 (f) one or more judgments, orders or decrees (or other similar process) shall be
rendered against any Group Member (i)(A) in the case of money judgments, orders and decrees, involving an aggregate amount (excluding amounts adequately covered by insurance payable to any Group Member, to the extent the relevant insurer has not
denied coverage therefor) in excess of $3,000,000 or (B) otherwise, that would have, in the aggregate, a Material Adverse Effect and (ii)(A) enforcement proceedings shall have been commenced by any creditor upon any such judgment, order or
decree or (B) such judgment, order or decree shall not have been vacated or discharged for a period of 30 consecutive days and there shall not be in effect (by reason of a pending appeal or otherwise) any stay of enforcement thereof; or

 (g) except pursuant to a valid, binding and enforceable termination or release permitted under the Loan Documents and executed by the
appropriate Agent or as otherwise expressly permitted under any Loan Document, (i) any provision of any Loan Document shall, at any time after the delivery of such Loan Document, fail to be valid and binding on, or enforceable against, any Loan
Party party thereto, (ii) any Loan Document purporting to grant a Lien to secure any Obligation shall, at any time after the delivery of such Loan Document, fail to create a valid and enforceable Lien on any Collateral purported to be covered
thereby or such Lien shall fail or cease to be, to the extent required by the Loan Documents, a perfected Lien with the priority required in the relevant Loan Document or (iii) any subordination provision set forth in any documentation
governing Subordinated Debt shall, in whole or in part, terminate or otherwise fail or cease to be valid and binding on, or enforceable against, the trustee (if any) in respect of any notes evidencing Subordinated Debt or any holder of thereof (or
such trustee or any such holder shall so state in writing), or any Group Member shall state in writing that any of the events described in clause (i), (ii) or (iii) above shall have occurred; or 
 (h) there shall occur any Change of Control; or 
 (i) there shall have occurred an “Event of Default” under and as defined in the First Lien Credit Agreement and such Event of Default shall have not been cured or waived for a period of 60 consecutive days in accordance with the
terms of the First Lien Credit Agreement. 
 Section 9.2 Remedies. During the continuance of any Event of Default, the
Administrative Agent may, and, at the request of the Required Lenders, shall, in each case by notice to the Borrower and in addition to any other right or remedy provided under any Loan Document or by any applicable Requirement of Law, do each of
the following: (a) declare all or any portion of the Commitments terminated, whereupon the Commitments shall immediately be reduced by such portion or, in the case of a termination in whole, shall terminate together with any obligation any
Lender may have hereunder to make any Loan or (b) declare immediately due 

  

					
		  	66	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
and payable all or part of any Obligation (including any accrued but unpaid interest thereon), whereupon the same shall become immediately due and payable,
without presentment, demand, protest or further notice or other requirements of any kind, all of which are hereby expressly waived by Holdings and the Borrower (and, to the extent provided in any other Loan Document, other Loan Parties);
provided, however, that, effective immediately upon the occurrence of the Events of Default specified in Section 9.1(e)(ii), (x) the Commitments of each Lender to make Loans shall each automatically be terminated and
(y) each Obligation (including in each case any accrued all accrued but unpaid interest thereon) shall automatically become and be due and payable, without presentment, demand, protest or further notice or other requirement of any kind, all of
which are hereby expressly waived by Holdings and the Borrower (and, to the extent provided in any other Loan Document, any other Loan Party). In addition to the remedies set forth above, with or without the request of the Requisite Lenders, the
Collateral Agent may exercise any remedies provided for by the Guaranty and Security Agreement and the Intercreditor Agreement in accordance with the terms thereof or any other remedies provided by applicable law. 
 ARTICLE 10 
 THE AGENTS 
 Section 10.1 Appointment and Duties. (a) Appointment of Administrative Agent and Collateral Agent. Each Lender hereby appoints
GE Capital (together with any successor Administrative Agent pursuant to Section 10.9) as the Administrative Agent hereunder and authorizes the Administrative Agent to (i) execute and deliver the Loan Documents and accept delivery
thereof on its behalf from any Group Member, (ii) take such action on its behalf and to exercise all rights, powers and remedies and perform the duties as are expressly delegated to the Administrative Agent under such Loan Documents and
(iii) exercise such powers as are reasonably incidental thereto. Each Lender hereby appoints GE Capital (together with any successor Collateral Agent pursuant to the Intercreditor Agreement) as the Collateral Agent hereunder and authorizes the
Collateral Agent to (i) execute and deliver the Loan Documents and accept delivery thereof on its behalf from any Group Member, (ii) take such action on its behalf and to exercise all rights, powers and remedies and perform the duties as
are expressly delegated to the Collateral Agent under such Loan Documents and (iii) exercise such powers as are reasonably incidental thereto. 
 (b) Duties as Collateral and Disbursing Agent. Without limiting the generality of clause (a) above, the Agents shall have the sole and exclusive right and authority (to the exclusion of the Lenders), and are hereby
authorized, to (i) act as the disbursing and collecting agent for the Lenders with respect to all payments and collections arising in connection with the Loan Documents (including in any proceeding described in Section 9.1(e)(ii) or
any other bankruptcy, insolvency or similar proceeding), and each Person making any payment in connection with any Loan Document to any Secured Party is hereby authorized to make such payment to the Agents, (ii) file and prove claims and file
other documents necessary or desirable to allow the claims of the Secured Parties with respect to any Obligation in any proceeding described in Section 9.1(e)(ii) or any other bankruptcy, insolvency or similar proceeding (but not to
vote, consent or otherwise act on behalf of such Secured Party), (iii) in the case of the Collateral Agent, act as collateral agent for each Secured Party for purposes of the perfection of all Liens created by such agreements and all other
purposes stated therein, (iv) manage, supervise and otherwise deal with the Collateral, (v) take such other action as is necessary or desirable to maintain the perfection and priority of the Liens created or purported to be created by the
Loan 

  

					
		  	67	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
Documents, (vi) except as may be otherwise specified in any Loan Document, exercise all remedies given to the Agents and the other Secured Parties with
respect to the Collateral, whether under the Loan Documents, applicable Requirements of Law or otherwise and (vii) execute any amendment, consent or waiver under the Loan Documents on behalf of any Lender that has consented in writing to such
amendment, consent or waiver; provided, however, that each Agent hereby appoints, authorizes and directs each Lender to act as collateral sub-agent for each Agent, the Lenders for purposes of the perfection of all Liens with respect to
the Collateral, including any deposit account maintained by a Loan Party with, and cash and Cash Equivalents held by, such Lender, and may further authorize and direct the Lenders to take further actions as collateral sub-agents for purposes of
enforcing such Liens or otherwise to transfer the Collateral subject thereto to each Agent, and each Lender hereby agrees to take such further actions to the extent, and only to the extent, so authorized and directed. 
 (c) Limited Duties. Under the Loan Documents, each Agent (i) is acting solely on behalf of the Lenders (except to the limited extent provided
in Section 2.14(b) with respect to the Register and in Section 10.11), with duties that are entirely administrative in nature, notwithstanding the use of the defined terms “Administrative Agent” and
“Collateral Agent”, the terms “agent”, “administrative agent” and “collateral agent” and similar terms in any Loan Document to refer to the Agents, which terms are used for title
purposes only, (ii) is not assuming any obligation under any Loan Document other than as expressly set forth therein or any role as agent, fiduciary or trustee of or for any Lender or any other Secured Party and (iii) shall have no implied
functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Lender hereby waives and agrees not to assert any claim against any Agent based on the roles, duties and legal relationships expressly disclaimed
in clauses (i) through (iii) above. 
 Section 10.2 Binding Effect. Each Lender agrees that
(i) any action taken by the Agents or the Required Lenders (or, if expressly required hereby, a greater proportion of the Lenders) in accordance with the provisions of the Loan Documents, (ii) any action taken by the Agents in reliance
upon the instructions of Required Lenders (or, where so required, such greater proportion) and (iii) the exercise by the Agents or the Required Lenders (or, where so required, such greater proportion) of the powers set forth herein or therein,
together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Secured Parties. 
 Section 10.3 Use of Discretion. (a) No Action without Instructions. No Agent shall be required to exercise any discretion or take, or to omit to take, any action, including with respect to enforcement or
collection, except any action it is required to take or omit to take (i) under any Loan Document or (ii) pursuant to instructions from the Required Lenders (or, where expressly required by the terms of this Agreement, a greater proportion
of the Lenders). 
 (b) Right Not to Follow Certain Instructions. Notwithstanding clause (a) above, no Agent shall be
required to take, or to omit to take, any action (i) unless, upon demand, the Administrative Agent or the Collateral Agent (as applicable) receives an indemnification satisfactory to it from the Lenders (or, to the extent applicable and
acceptable to such agent, any other Secured Party) against all Liabilities that, by reason of such action or omission, may be imposed on, incurred by or asserted against any Agent or any Related Person thereof or (ii) that is, in the opinion of
the applicable Agent or its counsel, contrary to any Loan Document or applicable Requirement of Law. 
  

					
		  	68	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 10.4 Delegation of Rights and Duties. The Agents may, upon any term or condition it
specifies, delegate or exercise any of their respective rights, powers and remedies under, and delegate or perform any of its duties or any other action with respect to, any Loan Document by or through any trustee, co-agent, employee,
attorney-in-fact and any other Person (including any Secured Party). Any such Person shall benefit from this Article X to the extent provided by the applicable Agent. 
 Section 10.5 Reliance and Liability. (a) The Agents may, without incurring any liability hereunder, (i) treat the payee of any
Note as its holder until such Note has been assigned in accordance with Section 11.2(e), (ii) rely on the Register to the extent set forth in Section 2.14, (iii) consult with any of its Related Persons and, whether
or not selected by it, any other advisors, accountants and other experts (including advisors to, and accountants and experts engaged by, any Loan Party) and (iv) rely and act upon any document and information (including those transmitted by
Electronic Transmission) and any telephone message or conversation, in each case believed by it to be genuine and transmitted, signed or otherwise authenticated by the appropriate parties. 
 (b) None of the Agents and their Related Persons shall be liable for any action taken or omitted to be taken by any of them under or in connection with
any Loan Document, and each Lender, Holdings and the Borrower hereby waive and shall not assert (and each of Holdings and the Borrower shall cause each other Loan Party to waive and agree not to assert) any right, claim or cause of action based
thereon, except to the extent of liabilities resulting primarily from the gross negligence or willful misconduct of the applicable Agent or, as the case may be, such Related Person (each as determined in a final, non-appealable judgment by a court
of competent jurisdiction) in connection with the duties expressly set forth herein. Without limiting the foregoing, the Agents: 
 (i) shall not be responsible or otherwise incur liability for any action or omission taken in reliance upon the instructions of the Required Lenders or for the actions or omissions of any of its Related Persons selected with reasonable care
(other than employees, officers and directors of the applicable Agent, when acting on behalf of the applicable Agent); 
 (ii)
shall not be responsible to any Secured Party for the due execution, legality, validity, enforceability, effectiveness, genuineness, sufficiency or value of, or the attachment, perfection or priority of any Lien created or purported to be created
under or in connection with, any Loan Document; 
 (iii) make no warranty or representation, and shall not be responsible, to
any Secured Party for any statement, document, information, representation or warranty made or furnished by or on behalf of any Related Person or any Loan Party in connection with any Loan Document or any transaction contemplated therein or any
other document or information with respect to any Loan Party, whether or not transmitted or (except for documents expressly required under any Loan Document to be transmitted to the Lenders) omitted to be transmitted by the Agents, including as to
completeness, accuracy, scope or adequacy thereof, or for the scope, nature or results of any due diligence performed by the Agents in connection with the Loan Documents; and 
  

					
		  	69	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (iv) shall not have any duty to ascertain or to inquire as to the performance or
observance of any provision of any Loan Document, whether any condition set forth in any Loan Document is satisfied or waived, as to the financial condition of any Loan Party or as to the existence or continuation or possible occurrence or
continuation of any Default or Event of Default and shall not be deemed to have notice or knowledge of such occurrence or continuation unless it has received a notice from the Borrower, any Lender describing such Default or Event of Default clearly
labeled “notice of default” (in which case the Administrative Agent shall promptly give notice of such receipt to all Lenders); 
 and, for
each of the items set forth in clauses (i) through (iv) above, each Lender, Holdings and the Borrower hereby waives and agrees not to assert (and each of Holdings and the Borrower shall cause each other Loan Party to waive
and agree not to assert) any right, claim or cause of action it might have against any Agent based thereon. 
 Section 10.6
Administrative Agent Individually. The Administrative Agent and its Affiliates may make loans and other extensions of credit to, acquire Stock and Stock Equivalents of, engage in any kind of business with, any Loan Party or Affiliate thereof
as though it were not acting as Administrative Agent and may receive separate fees and other payments therefor. To the extent the Administrative Agent or any of its Affiliates makes any Loan or otherwise becomes a Lender hereunder, it shall have and
may exercise the same rights and powers hereunder and shall be subject to the same obligations and liabilities as any other Lender and the terms “Lender”, “Required Lender”, and any similar terms shall, except where
otherwise expressly provided in any Loan Document, include, without limitation, the Administrative Agent or such Affiliate, as the case may be, in its individual capacity as Lender or as one of the Required Lenders. 
 Section 10.7 Lender Credit Decision. Each Lender acknowledges that it shall, independently and without reliance upon any Agent, any Lender
or any of their Related Persons or upon any document (including the Disclosure Documents) solely or in part because such document was transmitted by any Agent or any of its Related Persons, conduct its own independent investigation of the financial
condition and affairs of each Loan Party and make and continue to make its own credit decisions in connection with entering into, and taking or not taking any action under, any Loan Document or with respect to any transaction contemplated in any
Loan Document, in each case based on such documents and information as it shall deem appropriate. Except for documents expressly required by any Loan Document to be transmitted by the Agents to the Lenders, the Agents shall not have any duty or
responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any Loan Party or any Affiliate of any Loan Party that may come
in to the possession of any Agent or any of its Related Persons. 
 Section 10.8 Expenses; Indemnities. (a) Each Lender
agrees to reimburse the Agents and each of their respective Related Persons (to the extent not reimbursed by any Loan Party) promptly upon demand for such Lender’s Pro Rata Share with respect to the Facility of any costs and expenses (including
fees, charges and disbursements of financial, legal and other advisors and Other Taxes paid in the name of, or on behalf of, any Loan Party) that may be incurred by any Agent or any of its Related Persons in connection with the preparation,
syndication, execution, delivery, administration, modification, consent, waiver or enforcement (whether through negotiations, through any work-out, bankruptcy, restructuring or other legal or other proceeding or otherwise) of, or legal advice in
respect of its rights or responsibilities under, any Loan Document. 
  

					
		  	70	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (b) Each Lender further agrees to indemnify each Agent and each of its Related Persons (to the extent not
reimbursed by any Loan Party), from and against such Lender’s aggregate Pro Rata Share with respect to the Facility of the Liabilities (including taxes, interests and penalties imposed for not properly withholding or backup withholding on
payments made to on or for the account of any Lender) that may be imposed on, incurred by or asserted against any Agent or any of its Related Persons in any matter relating to or arising out of, in connection with or as a result of any Loan
Document, any Related Document or any other act, event or transaction related, contemplated in or attendant to any such document, or, in each case, any action taken or omitted to be taken by any Agent or any of its Related Persons under or with
respect to any of the foregoing; provided, however, that no Lender shall be liable to the any Agent or any of its Related Persons to the extent such liability has resulted primarily from the gross negligence or willful misconduct of
such Agent or, as the case may be, such Related Person, as determined by a court of competent jurisdiction in a final non-appealable judgment or order. 
 Section 10.9 Resignation of Administrative Agent. (a) The Administrative Agent may resign at any time by delivering notice of such resignation to the Lenders and the Borrower, effective on the date
set forth in such notice or, if not such date is set forth therein, upon the date such notice shall be effective. If the Administrative Agent delivers any such notice, the Required Lenders shall have the right to appoint a successor Administrative
Agent. If, within 30 days after the retiring Administrative Agent having given notice of resignation, no successor Administrative Agent has been appointed by the Required Lenders that has accepted such appointment, then the retiring Administrative
Agent may, on behalf of the Lenders, appoint a successor Administrative Agent from among the Lenders. Each appointment under this clause (a) shall be subject to the prior consent of the Borrower, which may not be unreasonably withheld
but shall not be required during the continuance of a Default. DKAP shall have the right to remove the Administrative Agent at any time by delivering 30 days prior written notice of such removal to the Administrative Agent and the Borrower;
provided, however, that the Administrative Agent and, if a Default is not then continuing, the Borrower shall have the right in connection with such removal to approve any successor Administrative Agent, which approval may not be
unreasonably withheld or delayed, and provided, further, that DKAP shall be deemed approved by the Administrative Agent to be a successor Administrative Agent upon such removal. 
 (b) Effective immediately upon its resignation or removal, as the case may be, (i) the retiring Administrative Agent shall be discharged from its
duties and obligations under the Loan Documents, (ii) the Lenders shall assume and perform all of the duties of the Administrative Agent until a successor Administrative Agent shall have accepted a valid appointment hereunder, (iii) the
retiring Administrative Agent and its Related Persons shall no longer have the benefit of any provision of any Loan Document other than with respect to any actions taken or omitted to be taken while such retiring Administrative Agent was, or because
such Administrative Agent had been, validly acting as Administrative Agent under the Loan Documents and (iv) subject to its rights under Section 10.3, the retiring Administrative Agent shall take such action as may be reasonably
necessary to assign to the successor Administrative Agent its rights as Administrative Agent under the Loan Documents. Effective immediately upon its acceptance of a valid appointment as Administrative Agent, a successor Administrative Agent shall
succeed to, and become vested with, all the rights, powers, privileges and duties of the retiring Administrative Agent under the Loan Documents. 
  

					
		  	71	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 Section 10.10 Release of Collateral or Guarantors. Each Lender hereby consents to the
release and hereby directs the Collateral Agent to release (or, in the case of clause (b)(ii) below, release or subordinate) the following: 
 (a) any Subsidiary of the Borrower from its guaranty of any Obligation of any Loan Party if all of the Securities of such Subsidiary owned by any Group Member are Sold in a Sale permitted under the Loan Documents (including pursuant to a
waiver or consent), to the extent that, after giving effect to such Sale, such Subsidiary would not be required to guaranty any Obligations pursuant to Section 7.10; and 
 (b) any Lien held by the Collateral Agent for the benefit of the Secured Parties against (i) any Collateral that is Sold by a Loan Party in a Sale
permitted by the Loan Documents (including pursuant to a valid waiver or consent), to the extent all Liens required to be granted in such Collateral pursuant to Section 7.10 after giving effect to such Sale have been granted,
(ii) any property subject to a Lien permitted hereunder in reliance upon Section 8.2(d) or (e) and (iii) all of the Collateral and all Loan Parties, upon (A) termination of the Commitments, (B) payment and
satisfaction in full of all Loans and all other Obligations that the Collateral Agent has been notified in writing are then due and payable by the holder of such Obligation, (C) deposit of cash collateral with respect to all contingent
Obligations in amounts and on terms and conditions and with parties satisfactory to the each Agent and each Indemnitee that is owed such Obligations and (D) to the extent requested by the any Agent, receipt by the Secured Parties of liability
releases from the Loan Parties each in form and substance acceptable to each Agent. 
 Each Lender hereby directs the Collateral Agent, and
the Collateral Agent hereby agrees, upon receipt of reasonable advance notice from the Borrower, to execute and deliver or file such documents and to perform other actions reasonably necessary to release the guaranties and Liens when and as directed
in this Section 10.10. 
 Section 10.11 Additional Secured Parties. The benefit of the provisions of the Loan
Documents directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Secured Party that is not a Lender as long as, by accepting such benefits, such Secured Party agrees, as among the Agents and all
other Secured Parties, that such Secured Party is bound by (and, if requested by the any Agent, shall confirm such agreement in a writing in form and substance acceptable to the such Agent) this Article X, Section 11.8
(Right of Setoff), Section 11.9 (Sharing of Payments) and Section 11.20 (Confidentiality) and the decisions and actions of the Agents and the Required Lenders (or, where expressly required by the terms of
this Agreement, a greater proportion of the Lenders) to the same extent a Lender is bound; provided, however, that, notwithstanding the foregoing, (a) such Secured Party shall be bound by Section 10.8 only to the
extent of Liabilities, costs and expenses with respect to or otherwise relating to the Collateral held for the benefit of such Secured Party, in which case the obligations of such Secured Party thereunder shall not be limited by any concept of Pro
Rata Share or similar concept, (b) except as set forth specifically herein, each of the Agents, the Lenders shall be entitled to act at its sole discretion, without regard to the interest of such Secured Party, regardless of whether any
Obligation to such Secured Party thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such Secured Party or any such
Obligation and (c) except as set forth specifically herein, such Secured Party shall not have any right to be notified of, consent to, direct, require or be heard with respect to, any action taken or omitted in respect of the Collateral or
under any Loan Document. 
  

					
		  	72	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 ARTICLE 11 
 MISCELLANEOUS 
 Section 11.1 Amendments, Waivers, Etc. (a) No amendment or waiver of any
provision of any Loan Document (other than the Fee Letter and the Control Agreements) and no consent to any departure by any Loan Party therefrom shall be effective unless the same shall be in writing and signed (1) in the case of an amendment,
consent or waiver to cure any ambiguity, omission, defect or inconsistency or granting a new Lien for the benefit of the Secured Parties or extending an existing Lien over additional property, by the Administrative Agent and the Borrower,
(2) in the case of any other waiver or consent, by the Required Lenders (or by the Administrative Agent with the consent of the Required Lenders) and (3) in the case of any other amendment, by the Required Lenders (or by the Administrative
Agent with the consent of the Required Lenders) and the Borrower; provided, however, that no amendment, consent or waiver described in clause (2) or (3) above shall, unless in writing and signed by each Lender
directly affected thereby (or by the Administrative Agent with the consent of such Lender), in addition to any other Person the signature of which is otherwise required pursuant to any Loan Document, do any of the following: 
 (i) waive any condition specified in Section 3.1, except any condition referring to any other provision of any Loan Document;

 (ii) increase the Commitment of such Lender or subject such Lender to any additional obligation; 
 (iii) reduce (including through release, forgiveness, assignment or otherwise) (A) the principal amount of, the interest rate on, or
any obligation of the Borrower to repay (whether or not on a fixed date), any outstanding Loan owing to such Lender or (B) any fee (including, without limitation, any Prepayment Fee) or accrued interest payable to such Lender; provided,
however, that this clause (iii) does not apply to (x) any change to any provision increasing any interest rate or fee during the continuance of an Event of Default or to any payment of any such increase or (y) any
modification to any financial covenant set forth in Article V or in any definition set forth therein or principally used therein; 
 (iv) waive or postpone any scheduled maturity date or other scheduled date fixed for the payment, in whole or in part, of principal of or interest on any Loan or fee owing to such Lender or for the reduction of such
Lender’s Commitment; provided, however, that this clause (iv) does not apply to any change to mandatory prepayments, including those required under Section 2.8, or to the application of any payment,
including as set forth in Section 2.12; 
 (v) except as provided in Section 10.10, release all or
substantially all of the Collateral or any Guarantor from its guaranty of any Obligation of the Borrower; 
 (vi) reduce or
increase the proportion of Lenders required for the Lenders (or any subset thereof) to take any action hereunder or change the definition of the terms “Required Lenders”, “Pro Rata Share” or “Pro Rata
Outstandings”; or 
  

					
		  	73	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (vii) amend Section 10.10 (Release of Collateral or Guarantors),
Section 11.9 (Sharing of Payments) or this Section 11.1; 
 and provided, further, that (x)(A) any waiver of any
payment applied pursuant to Section 2.12(b) (Application of Mandatory Prepayments) to, and any modification of the application of any such payment to the Loans shall require the consent of the Required Lenders, (B) any change
to the definition of the term “Required Lender” shall require the consent of the Required Lenders, (y) no amendment, waiver or consent shall affect the rights or duties under any Loan Document of, or any payment to, the
Administrative Agent (or otherwise modify any provision of Article X or the application thereof) or any SPV that has been granted an option pursuant to Section 11.2(f) unless in writing and signed by the Administrative Agent
or, as the case may be, such SPV in addition to any signature otherwise required and (z) the consent of the Borrower shall not be required to change any order of priority set forth in Section 2.12. 
 (b) Each waiver or consent under any Loan Document shall be effective only in the specific instance and for the specific purpose for which it was given.
No notice to or demand on any Loan Party shall entitle any Loan Party to any notice or demand in the same, similar or other circumstances. No failure on the part of any Secured Party to exercise, and no delay in exercising, any right hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right preclude any other or further exercise thereof or the exercise of any other right. 
 Section 11.2 Assignments and Participations; Binding Effect. (a) Binding Effect. This Agreement shall become effective when it shall have been executed by Holdings, the Borrower, the
Administrative Agent and the Collateral Agent and when the Administrative Agent shall have been notified by each Lender that such Lender has executed it. Thereafter, it shall be binding upon and inure to the benefit of, but only to the benefit of,
Holdings, the Borrower (in each case except for Article X), the Administrative Agent, the Collateral Agent, each Lender and, to the extent provided in Section 10.11, each other Indemnitee and Secured Party and, in each case,
their respective successors and permitted assigns. Except as expressly provided in any Loan Document (including in Section 10.9), none of Holdings, the Borrower, or any Agent shall have the right to assign any rights or obligations
hereunder or any interest herein. 
 (b) Right to Assign. Each Lender may sell, transfer, negotiate or assign all or a portion of its
rights and obligations hereunder (including all or a portion of its Commitments and its rights and obligations with respect to Loans) to (i) any existing Lender, (ii) any Affiliate or Approved Fund of any existing Lender or (iii) any
other Person acceptable (which acceptance shall not be unreasonably withheld or delayed) to the Administrative Agent and, with respect to any such assignments after the Closing Date, as long as no Event of Default is continuing, the Borrower;
provided, however, that (x) such Sales do not have to be ratable among the obligations owing to and owed by such Lender with respect to the Facility and (y) the aggregate outstanding principal amount (determined as of the
effective date of the applicable Assignment) of the Loans and Commitments subject to any such Sale shall be in a minimum amount of $1,000,000, unless such Sale is made to an existing Lender or an Affiliate or Approved Fund of any existing Lender, is
of the assignor’s (together with its Affiliates and Approved Funds) entire interest in such Facility or is made with the prior consent of the Borrower and the Administrative Agent. 
 (c) Procedure. The parties to each Sale made in reliance on clause (b) above (other than those described in clause (e) or
(f) below) shall execute and deliver to the Administrative Agent an Assignment via an electronic settlement system designated by the 

  

					
		  	74	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
Administrative Agent (or if previously agreed with the Administrative Agent, via a manual execution and delivery of the assignment) evidencing such Sale,
together with any existing Note subject to such Sale (or any affidavit of loss therefor acceptable to the Administrative Agent), any tax forms required to be delivered pursuant to Section 2.17(f) and payment of an assignment fee in the
amount of $3,500, provided that (1) if a Sale by a Lender is made to an Affiliate or an Approved Fund of such assigning Lender, then no assignment fee shall be due in connection with such Sale, and (2) if a Sale by a Lender is made to an
assignee that is not an Affiliate or Approved Fund of such assignor Lender, and concurrently to one or more Affiliates or Approved Funds of such assignee, then only one assignment fee of $3,500 shall be due in connection with such Sale. Upon receipt
of all the foregoing, and conditioned upon such receipt and, if such assignment is made in accordance with Section 11.2(b)(iii), upon the Administrative Agent (and the Borrower, if applicable) consenting to such Assignment, from and
after the effective date specified in such Assignment, the Administrative Agent shall record or cause to be recorded in the Register the information contained in such Assignment. 
 (d) Effectiveness. Subject to the recording of an Assignment by the Administrative Agent in the Register pursuant to Section 2.14(b),
(i) the assignee thereunder shall become a party hereto and, to the extent that rights and obligations under the Loan Documents have been assigned to such assignee pursuant to such Assignment, shall have the rights and obligations of a Lender,
(ii) any applicable Note shall be transferred to such assignee through such entry and (iii) the assignor thereunder shall, to the extent that rights and obligations under this Agreement have been assigned by it pursuant to such Assignment,
relinquish its rights (except for those surviving the termination of the Commitments and the payment in full of the Obligations) and be released from its obligations under the Loan Documents, other than those relating to events or circumstances
occurring prior to such assignment (and, in the case of an Assignment covering all or the remaining portion of an assigning Lender’s rights and obligations under the Loan Documents, such Lender shall cease to be a party hereto except that each
Lender agrees to remain bound by Article X, Section 11.8 (Right of Setoff) and Section 11.9 (Sharing of Payments) to the extent provided in Section 10.11 (Additional Secured
Parties)). 
 (e) Grant of Security Interests. In addition to the other rights provided in this Section 11.2, each
Lender may grant a security interest in, or otherwise assign as collateral, any of its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest on the Loans), to (A) any federal
reserve bank (pursuant to Regulation A of the Federal Reserve Board), without notice to the Administrative Agent or (B) any holder of, or trustee for the benefit of the holders of, such Lender’s Securities by notice to the Administrative
Agent; provided, however, that no such holder or trustee, whether because of such grant or assignment or any foreclosure thereon (unless such foreclosure is made through an assignment in accordance with clause (b) above),
shall be entitled to any rights of such Lender hereunder and no such Lender shall be relieved of any of its obligations hereunder. 
 (f)
Participants and SPVs. In addition to the other rights provided in this Section 11.2, each Lender may, (x) with notice to the Administrative Agent, grant to an SPV the option to make all or any part of any Loan that such
Lender would otherwise be required to make hereunder (and the exercise of such option by such SPV and the making of Loans pursuant thereto shall satisfy the obligation of such Lender to make such Loans hereunder) and such SPV may assign to such
Lender the right to receive payment with respect to any Obligation and (y) without notice to or consent from the Administrative Agent or the Borrower, sell participations to one or more Persons in or to all or a portion of its rights and
obligations under 

  

					
		  	75	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
the Loan Documents (including all its rights and obligations with respect to the Loans); provided, however, that, whether as a result of any
term of any Loan Document or of such grant or participation, (i) no such SPV or participant shall have a commitment, or be deemed to have made an offer to commit, to make Loans hereunder, and, except as provided in the applicable option
agreement, none shall be liable for any obligation of such Lender hereunder, (ii) such Lender’s rights and obligations, and the rights and obligations of the Loan Parties and the Secured Parties towards such Lender, under any Loan Document
shall remain unchanged and each other party hereto shall continue to deal solely with such Lender, which shall remain the holder of the Obligations in the Register, except that (A) each such participant and SPV shall be entitled to the benefit
of Sections 2.16 (Breakage Costs; Increased Costs; Capital Requirements) and 2.17 (Taxes), but only to the extent such participant or SPV delivers the tax forms such Lender is required to collect pursuant to
Section 2.17(f) and then only to the extent of any amount to which such Lender would be entitled in the absence of any such grant or participation and (B) each such SPV may receive other payments that would otherwise be made to such
Lender with respect to Loans funded by such SPV to the extent provided in the applicable option agreement and set forth in a notice provided to the Administrative Agent by such SPV and such Lender, provided, however, that in no case
(including pursuant to clause (A) or (B) above) shall an SPV or participant have the right to enforce any of the terms of any Loan Document, and (iii) the consent of such SPV or participant shall not be required (either
directly, as a restraint on such Lender’s ability to consent hereunder or otherwise) for any amendments, waivers or consents with respect to any Loan Document or to exercise or refrain from exercising any powers or rights such Lender may have
under or in respect of the Loan Documents (including the right to enforce or direct enforcement of the Obligations), except for those described in clauses (iii) and (iv) of Section 11.1(a) with respect to amounts,
or dates fixed for payment of amounts, to which such participant or SPV would otherwise be entitled and, in the case of participants, except for those described in Section 11.1(a)(v) (or amendments, consents and waivers with respect to
Section 10.10 to release all or substantially all of the Collateral). No party hereto shall institute (and each of Borrower and Holdings shall cause each other Loan Party not to institute) against any SPV grantee of an option pursuant to
this clause (f) any bankruptcy, reorganization, insolvency, liquidation or similar proceeding, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper of such SPV; provided, however,
that each Lender having designated an SPV as such agrees to indemnify each Indemnitee against any Liability that may be incurred by, or asserted against, such Indemnitee as a result of failing to institute such proceeding (including a failure to get
reimbursed by such SPV for any such Liability). The agreement in the preceding sentence shall survive the termination of the Commitments and the payment in full of the Obligations. 
 Section 11.3 Costs and Expenses. Any action taken by any Loan Party under or with respect to any Loan Document, even if required under any
Loan Document or at the request of any Secured Party, shall be at the expense of such Loan Party, and no Secured Party shall be required under any Loan Document to reimburse any Loan Party or Group Member therefor except as expressly provided
therein. In addition, the Borrower agrees to pay or reimburse upon demand (a) the Agents and DKAP for all reasonable out-of-pocket costs and expenses incurred by such Agent, DKAP or any of their respective Related Persons in connection with the
investigation, development, preparation, negotiation, syndication, execution, interpretation or administration of, any modification of any term of or termination of, any Loan Document, any commitment or proposal letter therefor, any other document
prepared in connection therewith or the consummation and administration of any transaction contemplated therein (including periodic audits in connection therewith and environmental audits and 

  

					
		  	76	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
assessments), in each case including the reasonable fees, charges and disbursements of legal counsel to the Agent, DKAP or such Related Persons and
Agents’ or such Related Persons’ fees, costs and expenses incurred in connection with Intralinks® or any other E-System and allocated to the Facility by the Administrative Agent in its sole discretion and in the same manner as it allocates such costs to its other borrowers and fees, charges and disbursements of the auditors,
appraisers, printers and other of their Related Persons retained by or on behalf of any of them or any of their Related Persons, (b) the Agents for all reasonable costs and expenses incurred by it or any of its Related Persons in connection
with internal audit reviews, field examinations and Collateral examinations (which shall be reimbursed, in addition to the out-of-pocket costs and expenses of such examiners, at the per diem rate per individual generally charged by the Agents for
their examiners) and (c) each of the Administrative Agent, the Collateral Agent, their respective Related Persons, and each Lender for all costs and expenses incurred in connection with (i) any refinancing or restructuring of the credit
arrangements provided hereunder in the nature of a “work-out”, (ii) the enforcement or preservation of any right or remedy under any Loan Document, any Obligation, with respect to the Collateral or any other related right or
remedy or (iii) the commencement, defense, conduct of, intervention in, or the taking of any other action with respect to, any proceeding (including any bankruptcy or insolvency proceeding) related to any Group Member, Loan Document, Obligation
or Related Transaction (or the response to and preparation for any subpoena or request for document production relating thereto), including fees and disbursements of outside counsel only. 
 Section 11.4 Indemnities. (a) The Borrower agrees to indemnify, hold harmless and defend each Agent and each Lender (each such Person
being an “Indemnitee”) from and against all Liabilities (including brokerage commissions, fees and other compensation) that may be imposed on, incurred by or asserted against any such Indemnitee in any matter relating to or arising
out of, in connection with or as a result of (i) any Loan Document, any Related Document, any Disclosure Document, any Obligation (or the repayment thereof), the use or intended use of the proceeds of any Loan, any Related Transaction, or any
securities filing of, or with respect to, any Group Member, (ii) any commitment letter, proposal letter or term sheet with any Person or any Contractual Obligation, arrangement or understanding with any broker, finder or consultant, in each
case entered into by or on behalf of the Parent, any Group Member or any Affiliate of any of them in connection with any of the foregoing and any Contractual Obligation entered into in connection with any E-Systems or other Electronic Transmissions,
(iii) any actual or prospective investigation, litigation or other proceeding, whether or not brought by any such Indemnitee or any of its Related Persons, any holders of Securities or creditors (and including attorneys’ fees in any case),
whether or not any such Indemnitee, Related Person, holder or creditor is a party thereto, and whether or not based on any securities or commercial law or regulation or any other Requirement of Law or theory thereof, including common law, equity,
contract, tort or otherwise, or (iv) any other act, event or transaction related, contemplated in or attendant to any of the foregoing (collectively, the “Indemnified Matters”); provided, however, that the
Borrower shall not have any liability under this Section 11.4 to any Indemnitee (x) with respect to any Indemnified Matter, and no Indemnitee shall have any liability with respect to any Indemnified Matter other than (to the extent
otherwise liable), to the extent such liability has resulted primarily from the gross negligence or willful misconduct of such Indemnitee, as determined by a court of competent jurisdiction in a final non-appealable judgment or order or
(y) with respect to taxes, which shall be governed by Section 2.17. Furthermore, each of Holdings and the Borrower waives and agrees not to assert against any Indemnitee, and shall cause each other Loan Party to waive and not assert
against any Indemnitee, any right of contribution with respect to any Liabilities that may be imposed on, incurred by or asserted against any Related Person. 
  

					
		  	77	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 (b) Without limiting the foregoing, “Indemnified Matters” includes all Environmental
Liabilities, including those arising from, or otherwise involving, any property of any Related Person or any actual, alleged or prospective damage to property or natural resources or harm or injury alleged to have resulted from any Release of
Hazardous Materials on, upon or into such property or natural resource or any property on or contiguous to any real property of any Related Person, whether or not, with respect to any such Environmental Liabilities, any Indemnitee is a mortgagee
pursuant to any leasehold mortgage, a mortgagee in possession, the successor-in-interest to any Related Person or the owner, lessee or operator of any property of any Related Person through any foreclosure action, in each case except to the extent
such Environmental Liabilities (i) are incurred solely following foreclosure by any Secured Party or following any Secured Party having become the successor-in-interest to any Loan Party and (ii) are attributable solely to acts of such
Indemnitee. 
 Section 11.5 Survival. Any indemnification or other protection provided to any Indemnitee pursuant to any
Loan Document (including pursuant to Section 2.17 (Taxes), Section 2.16 (Breakage Costs; Increased Costs; Capital Requirements), Article X (The Agents), Section 11.3 (Costs and
Expenses), Section 11.4 (Indemnities) or this Section 11.5) and all representations and warranties made in any Loan Document shall (A) survive the termination of the Commitments and the payment in full of
other Obligations and (B) inure to the benefit of any Person that at any time held a right thereunder (as an Indemnitee or otherwise) and, thereafter, its successors and permitted assigns. 
 Section 11.6 Limitation of Liability for Certain Damages. In no event shall any Indemnitee be liable on any theory of liability for any
special, indirect, consequential or punitive damages (including any loss of profits, business or anticipated savings). Each of Holdings and the Borrower hereby waives, releases and agrees (and shall cause each other Loan Party to waive, release and
agree) not to sue upon any such claim for any special, indirect, consequential or punitive damages, whether or not accrued and whether or not known or suspected to exist in its favor. 
 Section 11.7 Lender-Creditor Relationship. The relationship between the Lenders and the Administrative Agent, on the one hand, and the Loan
Parties, on the other hand, is solely that of lender and creditor. No Secured Party has any fiduciary relationship or duty to any Loan Party arising out of or in connection with, and there is no agency, tenancy or joint venture relationship between
the Secured Parties and the Loan Parties by virtue of, any Loan Document or any transaction contemplated therein. 
 Section 11.8
Right of Setoff. Each Agent, each Lender and each Affiliate (including each branch office thereof) of any of them is hereby authorized, without notice or demand (each of which is hereby waived by Holdings and the Borrower), at any time and
from time to time during the continuance of any Event of Default and to the fullest extent permitted by applicable Requirements of Law, to set off and apply any and all deposits (whether general or special, time or demand, provisional or final) at
any time held and other Indebtedness, claims or other obligations at any time owing by the Agent, such Lender or any of their respective Affiliates to or for the credit or the account of Holdings or the Borrower against any Obligation of any Loan
Party now or hereafter existing, whether or not any demand was made under any Loan Document with respect to such Obligation and even though such Obligation may be unmatured. 

  

					
		  	78	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
Each Agent, each Lender agrees promptly to notify the Borrower and the Agents after any such setoff and application made by such Lender or its Affiliates;
provided, however, that the failure to give such notice shall not affect the validity of such setoff and application. The rights under this Section 11.8 are in addition to any other rights and remedies (including other
rights of setoff) that the Agents, the Lenders and their Affiliates and other Secured Parties may have. 
 Section 11.9 Sharing of
Payments, Etc. If any Lender, directly or through an Affiliate or branch office thereof, obtains any payment of any Obligation of any Loan Party (whether voluntary, involuntary or through the exercise of any right of setoff or the receipt of any
Collateral or “proceeds” (as defined under the applicable UCC) of Collateral) other than pursuant to Sections 2.16 (Breakage Costs; Increased Costs; Capital Requirements), 2.17 (Taxes) and
2.18 (Substitution of Lenders) and such payment exceeds the amount such Lender would have been entitled to receive if all payments had gone to, and been distributed by, any Agent in accordance with the provisions of the Loan Documents,
such Lender shall purchase for cash from other Secured Parties such participations in their Obligations as necessary for such Lender to share such excess payment with such Secured Parties to ensure such payment is applied as though it had been
received by the applicable Agent and applied in accordance with this Agreement (or, if such application would then be at the discretion of the Borrower, applied to repay the Obligations in accordance herewith); provided, however, that
(a) if such payment is rescinded or otherwise recovered from such Lender in whole or in part, such purchase shall be rescinded and the purchase price therefor shall be returned to such Lender without interest and (b) such Lender shall, to
the fullest extent permitted by applicable Requirements of Law, be able to exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor of the Borrower in
the amount of such participation. 
 Section 11.10 Marshaling; Payments Set Aside. No Secured Party shall be under any
obligation to marshal any property in favor of any Loan Party or any other party or against or in payment of any Obligation. To the extent that any Secured Party receives a payment from the Borrower, from the proceeds of the Collateral, from the
exercise of its rights of setoff, any enforcement action or otherwise, and such payment is subsequently, in whole or in part, invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any
other party, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor, shall be revived and continued in full force and effect as if such payment had not
occurred. 
 Section 11.11 Notices. (a) Addresses. All notices, demands, requests, directions and other
communications required or expressly authorized to be made by this Agreement shall, whether or not specified to be in writing but unless otherwise expressly specified to be given by any other means, be given in writing and (i) addressed to
(A) if to the Parent, Holdings or the Borrower, to 11101 Roosevelt Blvd., St. Petersburg, FL, 33716, Attention: Edward K. Quibell, Chief Financial Officer, Tel: (727) 622-2856, Fax: (727) 622-2185, E-mail: ed_quibell@danka.com with
copy to General Counsel, Tel: (727) 622-4745, Fax: (727) 622-2880, and Skadden, Arps, Slate, Meagher & Flom LLP, 333 West Wacker Drive, Chicago IL 60606, Attention: Gary Cullen, Tel: (312) 407-0680, Fax: (312) 407-0411,
E-mail: gcullen@skadden.com, (B) if to the Administrative Agent, the Collateral Agent, to GE Corporate Lending, 1100 Abernathy Road, Suite 900, Atlanta, GA, 30328, Attention: Danka Office Imaging Account Manager, Tel:
(678) 320-8942, Fax: (678) 320-8902, E-mail: todd.m.anderson@ge.com with copy to Weil, Gotshal & Manges LLP, 767 Fifth Avenue, New York, NY, 10153, Attention: Gary Holtzer, Esq., Tel: (212) 310-8463, Fax: (212) 310-8007.
E-mail: gary.holtzer@weil.com and (C)

  

					
		  	79	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
otherwise to the party to be notified at its address specified opposite its name on Schedule II or on the signature page of any applicable
Assignment, (ii) in the case of any communication to any Person that is not a Loan Party, posted to Intralinks® (to the extent such system is available and set up by or at the direction of the Administrative Agent prior to posting) in an appropriate location by uploading such notice, demand, request, direction
or other communication to www.intralinks.com, faxing it to 866-545-6600 with an appropriate bar-coded fax coversheet or using such other means of posting to Intralinks® as may be available and reasonably acceptable to the Administrative Agent prior to such posting, (iii) in the case of any
communication to any Person that is not a Loan Party, posted to any other E-System set up by or at the direction of the Administrative Agent in an appropriate location or (iv) addressed to such other address as shall be notified in writing
(A) in the case of the Borrower and the Administrative Agent, to the other parties hereto and (B) in the case of all other parties, to the Borrower and the Administrative Agent. Transmission by electronic mail (including E-Fax, even if
transmitted to the fax numbers set forth in clause (i) above) shall not be sufficient or effective to transmit any such notice under this clause (a) unless such transmission is an available means to post to any E-System.

 (b) Effectiveness. All communications described in clause (a) above and all other notices, demands, requests and other
communications made in connection with this Agreement shall be effective and be deemed to have been received (i) if delivered by hand, upon personal delivery, (ii) if delivered by overnight courier service, one Business Day after delivery
to such courier service, (iii) if delivered by mail, when deposited in the mails, (iv) if delivered by facsimile, upon sender’s receipt of confirmation of proper transmission, and (v) if delivered by electronic mail, upon the
sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), provided that if such notice or other
communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient; provided, however, that
no communications to any Agent pursuant to Article II or Article X shall be effective until received by such Agent. 
 Section 11.12 Electronic Transmissions. (a) Authorization. Subject to the provisions of Section 11.11(a), each of the Administrative Agent, the Borrower, the Lenders and each of their Related Persons is
authorized (but not required) to transmit, post or otherwise make or communicate, in its sole discretion, Electronic Transmissions in connection with any Loan Document and the transactions contemplated therein. Each of Holdings, the Borrower and
each Secured Party hereby acknowledges and agrees, and each of Holdings and the Borrower shall cause each other Group Member to acknowledge and agree, that the use of Electronic Transmissions is not necessarily secure and that there are risks
associated with such use, including risks of interception, disclosure and abuse and each indicates it assumes and accepts such risks by hereby authorizing the transmission of Electronic Transmissions. 
 (b) Signatures. Subject to the provisions of Section 11.11(a), (i)(A) no posting to any E-System shall be denied legal effect merely
because it is made electronically, (B) each E-Signature on any such posting shall be deemed sufficient to satisfy any requirement for a “signature” and (C) each such posting shall be deemed sufficient to satisfy any
requirement for a “writing”, in each case including pursuant to any Loan Document, any applicable provision of any UCC, the federal Uniform Electronic Transactions Act, the Electronic Signatures in Global and National Commerce Act
and any substantive or procedural Requirement of Law governing such subject matter, (ii) each such posting that is not readily capable of bearing either a signature 

  

					
		  	80	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
or a reproduction of a signature may be signed, and shall be deemed signed, by attaching to, or logically associating with such posting, an E-Signature, upon
which each Secured Party and Loan Party may rely and assume the authenticity thereof, (iii) each such posting containing a signature, a reproduction of a signature or an E-Signature shall, for all intents and purposes, have the same effect and
weight as a signed paper original and (iv) each party hereto or beneficiary hereto agrees not to contest the validity or enforceability of any posting on any E-System or E-Signature on any such posting under the provisions of any applicable
Requirement of Law requiring certain documents to be in writing or signed; provided, however, that nothing herein shall limit such party’s or beneficiary’s right to contest whether any posting to any E-System or E-Signature
has been altered after transmission. 
 (c) Separate Agreements. All uses of an E-System shall be governed by and subject to, in
addition to Section 11.11 and this Section 11.12, separate terms and conditions posted or referenced in such E-System and related Contractual Obligations executed by Secured Parties and Group Members in connection with the
use of such E-System. 
 (d) Limitation of Liability. All E-Systems and Electronic Transmissions shall be provided “as
is” and “as available”. None of Administrative Agent or any of its Related Persons warrants the accuracy, adequacy or completeness of any E-Systems or Electronic Transmission, and each disclaims all liability for errors or
omissions therein. No Warranty of any kind is made by the Administrative Agent or any of its Related Persons in connection with any E-Systems or Electronic Communication, including any warranty of merchantability, fitness for a particular purpose,
non-infringement of third-party rights or freedom from viruses or other code defects. Each of Holdings, the Borrower and each Secured Party agrees (and each of Holdings and the Borrower shall cause each other Loan Party to agree) that the
Administrative Agent has no responsibility for maintaining or providing any equipment, software, services or any testing required in connection with any Electronic Transmission or otherwise required for any E-System. 
 Section 11.13 Governing Law. This Agreement, each other Loan Document that does not expressly set forth its applicable law, and the rights
and obligations of the parties hereto and thereto shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. 
 Section 11.14 Jurisdiction. (a) Submission to Jurisdiction. Any legal action or proceeding with respect to any Loan Document may be brought in the courts of the State of New York located in
the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York and, by execution and delivery of this Agreement, each of Holdings and the Borrower hereby accepts for itself and in respect of its
property, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereto (and, to the extent set forth in any other Loan Document, each other Loan Party) hereby irrevocably waive any objection, including any objection to
the laying of venue or based on the grounds of forum non conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in such jurisdictions. 
 (b) Service of Process. Each of Holdings and Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) hereby
irrevocably waives personal service of any and all legal process, summons, notices and other documents and other service of process of any kind and consents to such service in any suit, action or proceeding brought in the United States of America
with respect to or otherwise arising out of or in connection with any Loan Document by any means permitted by applicable Requirements of Law, including by the 

  

					
		  	81	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
mailing thereof (by registered or certified mail, postage prepaid) to the address of Borrower specified in Section 11.11 (and shall be effective
when such mailing shall be effective, as provided therein). Each of Holdings and the Borrower (and, to the extent set forth in any other Loan Document, each other Loan Party) agrees that a final judgment in any such action or proceeding shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. 
 (c) Non-Exclusive
Jurisdiction. Nothing contained in this Section 11.14 shall affect the right of the Administrative Agent or any Lender to serve process in any other manner permitted by applicable Requirements of Law or commence legal proceedings or
otherwise proceed against any Loan Party in any other jurisdiction. 
 Section 11.15 Waiver of Jury Trial. Each party hereto
hereby irrevocably waives trial by jury in any suit, action or proceeding with respect to, or directly or indirectly arising out of, under or in connection with, any Loan Document or the transactions contemplated therein or related thereto (whether
founded in contract, tort or any other theory). Each party hereto (A) certifies that no other party and no Related Person of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation,
seek to enforce the foregoing waiver and (B) acknowledges that it and the other parties hereto have been induced to enter into the Loan Documents, as applicable, by the mutual waivers and certifications in this Section 11.15.

 Section 11.16 Severability. Any provision of any Loan Document being held illegal, invalid or unenforceable in any
jurisdiction shall not affect any part of such provision not held illegal, invalid or unenforceable, any other provision of any Loan Document or any part of such provision in any other jurisdiction. 
 Section 11.17 Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages may be detached from multiple separate counterparts and attached to a single
counterpart. Delivery of an executed signature page of this Agreement by facsimile transmission or Electronic Transmission shall be as effective as delivery of a manually executed counterpart hereof. 
 Section 11.18 Entire Agreement. The Loan Documents embody the entire agreement of the parties and supersede all prior agreements and
understandings relating to the subject matter thereof and any prior letter of interest, commitment letter, fee letter, confidentiality and similar agreements involving any Loan Party and any Agent, any Lender or any of their respective Affiliates
relating to a financing of substantially similar form, purpose or effect. In the event of any conflict between the terms of this Agreement and any other Loan Document, the terms of this Agreement shall govern (unless such terms of such other Loan
Documents are necessary to comply with applicable Requirements of Law, in which case such terms shall govern to the extent necessary to comply therewith). 
 Section 11.19 Use of Name. Each of Holdings and the Borrower agrees, and shall cause each other Loan Party to agree, that it shall not, and none of its Affiliates shall, issue any press release or other
public disclosure (other than any document filed with any Governmental Authority relating to a public offering of the Securities of any Loan Party) using the name, logo or otherwise referring to GE Capital or of any of its Affiliates, the Loan

  

					
		  	82	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

 
Documents or any transaction contemplated therein to which the Secured Parties are party without at least 2 Business Days’ prior notice to GE
Capital and without the prior consent of GE Capital except to the extent required to do so under applicable Requirements of Law and then, only after consulting with GE Capital prior thereto. 
 Section 11.20 Non-Public Information; Confidentiality. (a) Each Lender acknowledges and agrees that it may receive material non-public
information hereunder concerning the Loan Parties and their Affiliates and Securities and agrees to use such information in compliance with all relevant policies, procedures and Contractual Obligations and applicable Requirements of Laws (including
United States federal and state security laws and regulations). 
 (b) Each Lender and the Administrative Agent agrees to use all reasonable
efforts to maintain, in accordance with its customary practices, the confidentiality of information obtained by it pursuant to any Loan Document and designated in writing by any Loan Party as confidential, except that such information may be
disclosed (i) with the Borrower’s consent, (ii) to Related Persons of such Lender or the Administrative Agent, as the case may be, that are advised of the confidential nature of such information and are instructed to keep such
information confidential, (iii) to the extent such information presently is or hereafter becomes available to such Lender or the Administrative Agent, as the case may be, on a non-confidential basis from a source other than any Loan Party,
(iv) to the extent disclosure is required by applicable Requirements of Law or other legal process or requested or demanded by any Governmental Authority, (v) to the extent necessary or customary for inclusion in league table measurements
or in any tombstone or other advertising materials (and the Loan Parties consent to the publication of such tombstone or other advertising materials by the Administrative Agent, any Lender, or any of their Related Persons), (vi) to the National
Association of Insurance Commissioners or any similar organization, any examiner or any nationally recognized rating agency or otherwise to the extent consisting of general portfolio information that does not identify borrowers, (vii) to
current or prospective assignees, SPVs grantees of any option described in Section 11.2(f) or participants, direct or contractual counterparties to any Hedging Agreement permitted hereunder and to their respective Related Persons, in
each case to the extent such assignees, participants, counterparties or Related Persons agree to be bound by provisions substantially similar to the provisions of this Section 11.20 and (viii) in connection with the exercise of any
remedy under any Loan Document. In the event of any conflict between the terms of this Section 11.20 and those of any other Contractual Obligation entered into with any Loan Party (whether or not a Loan Document), the terms of this
Section 11.20 shall govern. 
 Section 11.21 Patriot Act Notice. Each Lender subject to the USA Patriot Act of 2001
(31 U.S.C. 5318 et seq.) hereby notifies the Borrower that, pursuant to Section 326 thereof, it is required to obtain, verify and record information that identifies the Borrower, including the name and address of the Borrower and other
information allowing such Lender to identify the Borrower in accordance with such act. 
 [SIGNATURE PAGES FOLLOW] 
  

					
		  	83	  	 SECOND LIEN CREDIT AGREEMENT

 DANKA OFFICE IMAGING

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

			
	 DANKA OFFICE IMAGING COMPANY
 AS
BORROWER

		
	By:	 	/s/ A.D. Frazier
		 	Name: A.D. Frazier
		 	Title: Chairman and CEO

  

			
	 DANKA HOLDING COMPANY
 AS
HOLDINGS

		
	By:	 	/s/ A.D. Frazier
		 	Name: A.D. Frazier
		 	Title: Chairman and CEO

			
	GENERAL ELECTRIC CAPITAL CORPORATION AS ADMINISTRATIVE AGENT, COLLATERAL AGENT AND LENDER
		
	By:	 	/s/ Wafa Shalabi
		 	Name: Wafa Shalabi
		 	Title: Duly Authorized Signatory

 SCHEDULE I 
 COMMITMENTS 
  

				
	 Lender
	  	Commitment
	 General Electric Capital Corporation
	  	$	45,000,000Guarantee and Security Agreement dated as of June 25, 2007

 Exhibit 10.68 
 EXECUTION COPY 
  

 GUARANTY AND SECURITY AGREEMENT 
 Dated as of June 25, 2007 
 among 
 DANKA OFFICE IMAGING COMPANY

 and 
 Each Other Grantor

 From Time to Time Party Hereto 
 and 
 GENERAL ELECTRIC CAPITAL CORPORATION, 
 as First Lien Collateral Agent 
 and 
 GENERAL ELECTRIC CAPITAL CORPORATION, 
 as Second Lien Collateral Agent 
  

  

 TABLE OF CONTENTS 
  

							
	 	 	 	 	 	  	Page
	 ARTICLE I    DEFINED TERMS
	  	2
				
		 	 Section 1.1
	 	Definitions	  	2
		 	 Section 1.2
	 	Certain Other Terms	  	6
		
	 ARTICLE II    GUARANTY
	  	6
				
		 	 Section 2.1
	 	Guaranty	  	6
		 	 Section 2.2
	 	Limitation of Guaranty	  	6
		 	 Section 2.3
	 	Contribution	  	7
		 	 Section 2.4
	 	Authorization; Other Agreements	  	7
		 	 Section 2.5
	 	Guaranty Absolute and Unconditional	  	8
		 	 Section 2.6
	 	Waivers	  	8
		 	 Section 2.7
	 	Reliance	  	9
		
	 ARTICLE III    GRANT OF SECURITY INTEREST
	  	9
				
		 	 Section 3.1
	 	Collateral	  	9
		 	 Section 3.2
	 	Grant of Security Interest in Collateral	  	10
		
	 ARTICLE IV    REPRESENTATIONS AND WARRANTIES
	  	10
				
		 	 Section 4.1
	 	Title; No Other Liens	  	10
		 	 Section 4.2
	 	Perfection and Priority	  	11
		 	 Section 4.3
	 	Jurisdiction of Organization; Chief Executive Office	  	11
		 	 Section 4.4
	 	Locations of Inventory, Equipment and Books and Records	  	12
		 	 Section 4.5
	 	Pledged Collateral	  	12
		 	 Section 4.6
	 	Instruments and Tangible Chattel Paper Formerly Accounts	  	12
		 	 Section 4.7
	 	Intellectual Property	  	12
		 	 Section 4.8
	 	Commercial Tort Claims	  	13
		 	 Section 4.9
	 	Specific Collateral	  	13
		 	 Section 4.10
	 	Enforcement	  	13
		 	 Section 4.11
	 	Representations and Warranties of the Credit Agreements	  	13
		
	 ARTICLE V    COVENANTS
	  	13
				
		 	 Section 5.1
	 	Maintenance of Perfected Security Interest; Further Documentation and Consents	  	13
		 	 Section 5.2
	 	Changes in Locations, Name, Etc	  	14
		 	 Section 5.3
	 	Pledged Collateral	  	15
		 	 Section 5.4
	 	Accounts	  	15
		 	 Section 5.5
	 	Commodity Contracts	  	16
		 	 Section 5.6
	 	Delivery of Instruments and Tangible Chattel Paper and Control of Investment Property, Letter-of-Credit Rights and Electronic Chattel Paper	  	16
		 	 Section 5.7
	 	Intellectual Property	  	16
		 	 Section 5.8
	 	Notices	  	17
		 	 Section 5.9
	 	Notice of Commercial Tort Claims	  	17
		 	 Section 5.10
	 	Compliance with Credit Agreement	  	18
		
	 ARTICLE VI    REMEDIAL PROVISIONS
	  	18
				
		 	 Section 6.1
	 	Code and Other Remedies	  	18
		 	 Section 6.2
	 	Accounts and Payments in Respect of General Intangibles	  	21
		 	 Section 6.3
	 	Pledged Collateral	  	22

  

 i 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	 	 	 	 	  	Page
		 	 Section 6.4
	 	Proceeds to be Turned over to and Held by Collateral Agent	  	22
		 	 Section 6.5
	 	Registration Rights	  	23
		 	 Section 6.6
	 	Deficiency	  	23
		
	 ARTICLE VII    THE COLLATERAL AGENT
	  	24
				
		 	 Section 7.1
	 	Collateral Agent’s Appointment as Attorney-in-Fact	  	24
		 	 Section 7.2
	 	Authorization to File Financing Statements	  	25
		 	 Section 7.3
	 	Authority of Collateral Agent	  	25
		 	 Section 7.4
	 	Duty; Obligations and Liabilities	  	26
		
	 ARTICLE VIII    MISCELLANEOUS
	  	26
				
		 	 Section 8.1
	 	Reinstatement	  	26
		 	 Section 8.2
	 	Release of Collateral	  	27
		 	 Section 8.3
	 	Independent Obligations	  	27
		 	 Section 8.4
	 	No Waiver by Course of Conduct	  	27
		 	 Section 8.5
	 	Amendments in Writing	  	27
		 	 Section 8.6
	 	Additional Grantors; Additional Pledged Collateral	  	28
		 	 Section 8.7
	 	Notices	  	28
		 	 Section 8.8
	 	Successors and Assigns	  	28
		 	 Section 8.9
	 	Counterparts	  	28
		 	 Section 8.10
	 	Severability	  	28
		 	 Section 8.11
	 	Governing Law	  	28
		 	 Section 8.12
	 	Waiver of Jury Trial	  	29
		 	 Section 8.13
	 	Submission to Jurisdiction	  	29
		 	 Section 8.14
	 	Entire Agreement	  	29

  

 ii 

 TABLE OF CONTENTS 
  

			
	ANNEXES AND SCHEDULES
		
	 Annex 1
	  	Form of Pledge Amendment
	 Annex 2
	  	Form of Joinder Agreement
	 Annex 3
	  	Form of Intellectual Property Security Agreement
		
	 Schedule 1
	  	Commercial Tort Claims
	 Schedule 2
	  	Filings
	 Schedule 3
	  	Jurisdiction of Organization; Chief Executive Office
	 Schedule 4
	  	Location of Inventory and Equipment
	 Schedule 5
	  	Pledged Collateral
	 Schedule 6
	  	Intellectual Property

  

 iii 

 Exhibit 10.68 
 Notwithstanding anything herein to the contrary, the lien and security interest granted to the Collateral Agent, in its capacity as collateral agent for the Second Lien Secured Parties, pursuant to this Agreement and the exercise of any
right or remedy by the Collateral Agent on behalf of the Second Lien Secured Parties hereunder are subject to the provisions of the Intercreditor Agreement, dated as of June 25, 2007 (as amended, restated, supplemented or otherwise modified
from time to time in accordance with the terms thereof, the “Intercreditor Agreement”), among Danka Office Imaging Company, a Delaware corporation, the other Grantors from time to time party thereto, General Electric Capital
Corporation (“GE Capital”), in its capacity as the Collateral Agent, GE Capital, in its capacity as First Lien Agent, and GE Capital, in its capacity as the Second Lien Agent thereunder. In the event of any conflict between the
terms of the Intercreditor Agreement and this Agreement, the terms of the Intercreditor Agreement shall govern and control. 
 GUARANTY
AND SECURITY AGREEMENT, dated as of June 25, 2007 (this “Agreement”), by Danka Office Imaging Company, a Delaware corporation (the “Borrower”), Danka Holding Company, a Delaware corporation
(“Holdings”), and each of the other entities that becomes a party hereto pursuant to Section 8.6 (such entities, collectively with the Borrower and Holdings, the “Grantors”), in favor of GE Capital, as
collateral agent for the First Lien Secured Parties pursuant to the First Lien Credit Agreement (as defined herein) (together with its successors and permitted assigns, the “First Lien Collateral Agent”) and GE Capital, as
collateral agent for the Second Lien Secured Parties pursuant to the Second Lien Credit Agreement (as defined herein) (together with its successors and permitted assigns, the “Second Lien Collateral Agent”). The First Lien
Collateral Agent and the Second Lien Collateral Agent are referred to herein individually and collectively, as the context may require, as the “Collateral Agent.” References herein to any Grantor’s duty to deliver any
Collateral (as defined herein) to the Collateral Agent until the First Lien Termination Date (as defined in the Intercreditor Agreement) shall mean the First Lien Collateral Agent and thereafter, the Second Lien Collateral Agent. 
 W I T N E S S E T H: 
 WHEREAS, pursuant to
the First Lien Credit Agreement dated as of June 18, 2007 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “First Lien Credit Agreement”) among the Borrower, Holdings, the Lenders
and the L/C Issuers from time to time party thereto (collectively, the “First Lien Lenders”) and GE Capital, as administrative agent (in such capacity, the “First Lien Administrative Agent”) and as First Lien
Collateral Agent, the First Lien Lenders have severally agreed to make extensions of credit to the Borrower upon the terms and subject to the conditions set forth therein; 
 WHEREAS, pursuant to the Second Lien Credit Agreement dated as of June 18, 2007 (as the same may be amended, restated, supplemented or otherwise
modified from time to time, the “Second Lien Credit Agreement” and, together with the First Lien Credit Agreement, collectively, the “Credit Agreements”) among the Borrower, Holdings, the Lenders from time to time
party thereto (the “Second Lien Lenders”), and GE Capital, as administrative agent (in such capacity, the “Second Lien Administrative Agent” and, together with the First Lien Administrative Agent, collectively, the
“Administrative Agents”) and as Second Lien Collateral Agent, the Second Lien Lenders have severally agreed to make extensions of credit to the Borrower upon the terms and subject to the conditions set forth therein; 
 WHEREAS, each Grantor (other than the Borrower) has agreed to guaranty the Obligations (as defined in each Credit Agreement) of the Borrower; 

 

					
		  		  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 WHEREAS, each Grantor will derive substantial direct and indirect benefits from the making of the
extensions of credit under each Credit Agreement; and 
 WHEREAS, it is a condition precedent to the obligation of the First Lien Lenders and
the Second Lien Lenders to make their respective extensions of credit to the Borrower under the respective Credit Agreements that the Grantors shall have executed and delivered this Agreement to the Collateral Agent; 
 NOW, THEREFORE, in consideration of the premises and to induce the First Lien Lenders, the Second Lien Lenders, the Administrative Agents and the
Collateral Agent to enter into the Credit Agreements and to induce the First Lien Lenders and the Second Lien Lenders to make their respective extensions of credit to the Borrower under their respective Credit Agreements, each Grantor hereby agrees
with the Collateral Agent as follows: 
 ARTICLE I 
 DEFINED TERMS 
 Section 1.1 Definitions. (a) Unless otherwise defined herein,
capitalized terms used herein have the meanings given to them in the First Lien Credit Agreement and the Second Lien Credit Agreement. 
 (b)
The following terms have the meanings given to them in the UCC and terms used herein without definition that are defined in the UCC have the meanings given to them in the UCC (such meanings to be equally applicable to both the singular and plural
forms of the terms defined): “account”, “account debtor”, “as-extracted collateral”, “certificated security”, “chattel paper”, “commercial tort
claim”, “commodity contract”, “deposit account”, “electronic chattel paper”, “equipment”, “farm products”, “fixture”, “general
intangible”, “goods”, “health-care-insurance receivable”, “instruments”, “inventory”, “investment property”, “letter-of-credit right”,
“proceeds”, “record”, “securities account”, “security”, “supporting obligation” and “tangible chattel paper”. 
 (c) The following terms shall have the following meanings: 
 “Administrative Agents” has the meaning set forth in recitals to this Agreement. 
 “Agreement” has the meaning set forth in the recitals to this Agreement. 
 “Applicable IP Office”
means the United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency within or outside the United States. 
 “Borrower” has the meaning specified in the recitals to this Agreement. 
 “Collateral” has the meaning specified in Section 3.1. 
 “Collateral Agent” has the
meaning set forth in recitals to this Agreement. 
 “Credit Agreement” has the meaning set forth in the recitals to this
Agreement. 
  

					
		  	2	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 “Excluded Equity” means any voting stock in excess of 66% of the outstanding voting
stock of any Excluded Foreign Subsidiary. For the purposes of this definition, “voting stock” means, with respect to any issuer, the issued and outstanding shares of each class of Stock of such issuer entitled to vote (within the
meaning of Treasury Regulations § 1.956-2(c)(2)). 
 “Excluded Property” means, collectively, (i) Excluded
Equity, (ii) any permit or license or any Contractual Obligation entered into by any Grantor (A) that prohibits or requires the consent of any Person other than the Borrower and its Affiliates as a condition to the creation by such Grantor
of a Lien on any right, title or interest in such permit, license or Contractual Agreement or any Stock or Stock Equivalent related thereto or (B) to the extent that any Requirement of Law applicable thereto prohibits the creation of a Lien
thereon, but only, with respect to the prohibition in (A) and (B), to the extent, and for as long as, such prohibition is not terminated or rendered unenforceable or otherwise deemed ineffective by the UCC or any other Requirement of Law,
(iii) fixed or capital assets owned by any Grantor that is subject to a purchase money Lien or a Capital Lease if the Contractual Obligation pursuant to which such Lien is granted (or in the document providing for such Capital Lease) prohibits
or requires the consent of any Person other than the Borrower and its Affiliates as a condition to the creation of any other Lien on such equipment and (iv) any “intent to use” Trademark applications for which a statement of
use has not been filed (but only until such statement is filed); provided, however, “Excluded Property” shall not include any proceeds, products, substitutions or replacements of Excluded Property (unless such
proceeds, products, substitutions or replacements would otherwise constitute Excluded Property). 
 “First Lien Agent” has
the meaning specified in the recitals to this Agreement. 
 “First Lien Credit Agreement” has the meaning specified in the
recitals to this Agreement. 
 “First Lien Collateral Agent” has the meaning specified in the recitals to this Agreement.

 “First Lien Collateral Agent” has the meaning specified in the recitals to this Agreement. 
 “First Lien Lenders” has the meaning specified in the recitals to this Agreement. 
 “First Lien Loan Documents” means the Loan Documents (as defined in the First Lien Credit Agreement). 
 “First Lien Secured Obligations” means all Obligations (as defined in the First Lien Credit Agreement). 
 “First Lien Secured Parties” means the First Lien Lenders, the First Lien Agent, the Collateral Agent and any other holder of First Lien
Secured Obligations. 
 “First Liens” has the meaning set forth in Section 3.2(a). 
 “Fraudulent Transfer Laws” has the meaning specified in Section 2.2. 
 “GE Capital” has the meaning specified in the legend to this Agreement. 
  

					
		  	3	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 “Grantors” has the meaning specified in the recitals to this Agreement. 
 “Guaranteed Obligations” has the meaning set forth in Section 2.1. 
 “Guarantor” means each Grantor other than the Borrower. 
 “Guaranty” means the guaranty of the Guaranteed Obligations made by the Guarantors as set forth in this Agreement. 
 “First Lien Agent” has the meaning specified in the recitals to this Agreement. 
 “Holdings” has the meaning specified in the recitals to this Agreement. 
 “Intercreditor
Agreement” has the meaning specified in the legend to this Agreement. 
 “Loan Documents” means the First Lien Loan
Documents and the Second Lien Loan Documents. 
 “Material Intellectual Property” means Intellectual Property that is owned
by or licensed to a Grantor and material to the conduct of any Grantor’s business. 
 “Pledged Certificated Stock”
means all certificated securities and any other Stock or Stock Equivalent of any Person evidenced by a certificate, instrument or other similar document (as defined in the UCC), in each case owned by any Grantor, and any distribution of property
made on, in respect of or in exchange for the foregoing from time to time, exceeding, other than in the case of Stock or Stock Equivalent of any Subsidiary of any Guarantor, $250,000 in the aggregate including all Stock and Stock Equivalents listed
on Schedule 5. Pledged Certificated Stock excludes any Excluded Property and any Cash Equivalents that are not held in Controlled Securities Accounts to the extent permitted by Section 7.11 of the Credit Agreement.

 “Pledged Collateral” means, collectively, the Pledged Stock and the Pledged Debt Instruments. 
 “Pledged Debt Instruments” means all right, title and interest of any Grantor in instruments evidencing any Indebtedness owed to such
Grantor or other obligations, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time, exceeding $100,000 in the aggregate including all Indebtedness described on Schedule 5, issued by
the obligors named therein. Pledged Debt Instruments excludes any Cash Equivalents that are not held in Controlled Securities Accounts to the extent permitted by Section 7.11 of the Credit Agreement 
 “Pledged Investment Property” means any investment property of any Grantor, and any distribution of property made on, in respect of or
in exchange for the foregoing from time to time, exceeding $100,000 in the aggregate other than any Pledged Stock or Pledged Debt Instruments. Pledged Investment Property excludes any Cash Equivalents that are not held in Controlled Securities
Accounts to the extent permitted by Section 7.11 of the Credit Agreement 
 “Pledged Stock” means all Pledged
Certificated Stock and all Pledged Uncertificated Stock. 
  

					
		  	4	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 “Pledged Uncertificated Stock” means any Stock or Stock Equivalent of any Person that is
not Pledged Certificated Stock, including all right, title and interest of any Grantor as a limited or general partner in any partnership not constituting Pledged Certificated Stock or as a member of any limited liability company, all right, title
and interest of any Grantor in, to and under any Constituent Document of any partnership or limited liability company to which it is a party, and any distribution of property made on, in respect of or in exchange for the foregoing from time to time,
exceeding $100,000 in the aggregate including in each case those interests set forth on Schedule 5, to the extent such interests are not certificated. Pledged Certificated Stock excludes any Excluded Property and any Cash Equivalents
that are not held in Controlled Securities Accounts to the extent permitted by Section 7.11 of the Credit Agreement. 
 “Second Lien Agent” has the meaning specified in the recitals to this Agreement. 
 “Second Lien Credit
Agreement” has the meaning specified in the recitals to this Agreement. 
 “Second Lien Collateral Agent” has the
meaning specified in the recitals to this Agreement. 
 “Second Lien Lenders” has the meaning specified in the recitals to
this Agreement. 
 “Second Lien Loan Documents” means the Loan Documents (as defined in the Second Lien Credit Agreement).

 “Second Lien Secured Obligations” means all Obligations (as defined in the Second Lien Credit Agreement). 
 “Second Lien Secured Parties” means the Second Lien Lenders, the Second Lien Agent, the Second Lien Collateral Agent and any other
holder of Second Lien Secured Obligations. 
 “Second Liens” has the meaning set forth in Section 3.2(b).

 “Secured Obligations” means, collectively, (i) all First Lien Secured Obligations and (ii) all Second Lien
Secured Obligations. 
 “Secured Parties” means the First Lien Secured Parties and the Second Lien Secured Parties.

 “Security Cash Collateral Account” means a Cash Collateral Account that is not a L/C Cash Collateral Account. 

“Software” means (a) all computer programs, including source code and object code versions, (b) all data, databases and
compilations of data, whether machine readable or otherwise, and (c) all documentation, training materials and configurations related to any of the foregoing. 
 “Subsidiary Guarantor” means any Guarantor that is a Subsidiary of the Borrower. 
  

					
		  	5	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 “UCC” means the Uniform Commercial Code as from time to time in effect in the State of
New York; provided, however, that, in the event that, by reason of mandatory provisions of any applicable Requirement of Law, any of the perfection or priority of the Collateral Agent’s or any other Secured Party’s security
interest in any Collateral is governed by the Uniform Commercial Code of a jurisdiction other than the State of New York, “UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the
provisions hereof relating to such perfection or priority and for purposes of the definitions related to or otherwise used in such provisions. 
 “Vehicles” means all vehicles covered by a certificate of title law of any state. 
 Section 1.2
Certain Other Terms. (a) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The terms “herein”, “hereof” and similar terms refer
to this Agreement as a whole and not to any particular Article, Section or clause in this Agreement. References herein to an Annex, Schedule, Article, Section or clause refer to the appropriate Annex or Schedule to, or Article, Section or clause in
this Agreement. Where the context requires, provisions relating to any Collateral when used in relation to a Grantor shall refer to such Grantor’s Collateral or any relevant part thereof. 
 (b) Section 1.5 (Interpretation) of the Credit Agreement is applicable to this Agreement as and to the extent set forth therein.

 ARTICLE II 
 GUARANTY

 Section 2.1 Guaranty. (a) To induce the First Lien Lenders to make their respective extensions of credit to the
Borrower under the First Lien Credit Agreement, each Guarantor hereby, jointly and severally, absolutely, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, the full and punctual payment when due, whether at
stated maturity or earlier, by reason of acceleration, mandatory prepayment or otherwise in accordance with any First Lien Loan Document, of all First Lien Obligations of the Borrower whether existing on the date hereof or hereinafter incurred or
created (the “First Lien Guaranteed Obligations”. 
 (b) To induce the Second Lien Lenders to make their respective
extensions of credit to the Borrower under the Second Lien Credit Agreement, each Guarantor hereby, jointly and severally, absolutely, unconditionally and irrevocably guarantees, as primary obligor and not merely as surety, the full and punctual
payment when due, whether at stated maturity or earlier, by reason of acceleration, mandatory prepayment or otherwise in accordance with any Second Lien Loan Document, of all Second Lien Obligations of the Borrower whether existing on the date
hereof or hereinafter incurred or created (the “Second Lien Guaranteed Obligations” and, together with the First Lien Guaranteed Obligations, collectively, the “Guaranteed Obligations”). 
 (c) This Guaranty by each Guarantor hereunder constitutes a guaranty of payment and not of collection. 
 Section 2.2 Limitation of Guaranty. Any term or provision of this Guaranty or any other Loan Document to the contrary notwithstanding,
the maximum aggregate amount for which 

  

					
		  	6	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
any Subsidiary Guarantor shall be liable hereunder shall not exceed the maximum amount for which such Subsidiary Guarantor can be liable without rendering
this Guaranty or any other Loan Document, as it relates to such Subsidiary Guarantor, subject to avoidance under applicable Requirements of Law relating to fraudulent conveyance or fraudulent transfer (including the Uniform Fraudulent Conveyance
Act, the Uniform Fraudulent Transfer Act and Section 548 of title 11 of the United States Code or any applicable provisions of comparable Requirements of Law) (collectively, “Fraudulent Transfer Laws”). Any analysis of the
provisions of this Guaranty for purposes of Fraudulent Transfer Laws shall take into account the right of contribution established in Section 2.3 and, for purposes of such analysis, give effect to any discharge of intercompany debt as a
result of any payment made under the Guaranty. 
 Section 2.3 Contribution. To the extent that any Subsidiary Guarantor
shall be required hereunder to pay any portion of any Guaranteed Obligation exceeding the greater of (a) the amount of the economic benefit actually received by such Subsidiary Guarantor from the Loans and other Obligations and (b) the
amount such Subsidiary Guarantor would otherwise have paid if such Subsidiary Guarantor had paid the aggregate amount of the Guaranteed Obligations (excluding the amount thereof repaid by the Borrower and Holdings) in the same proportion as such
Subsidiary Guarantor’s net worth on the date enforcement is sought hereunder bears to the aggregate net worth of all the Subsidiary Guarantors on such date, then such Guarantor shall be reimbursed by such other Subsidiary Guarantors for the
amount of such excess, pro rata, based on the respective net worth of such other Subsidiary Guarantors on such date. 
 Section 2.4 Authorization; Other Agreements. The Secured Parties are hereby authorized, without notice to or demand upon any Guarantor and without discharging or otherwise affecting the obligations of any Guarantor
hereunder and without incurring any liability hereunder, from time to time, to do each of the following: 
 (a)    (i)
modify, amend, supplement or otherwise change, (ii) accelerate or otherwise change the time of payment or (iii) waive or otherwise consent to noncompliance with, any Guaranteed Obligation or any Loan Document (other than this Guaranty);

 (b) apply to the Guaranteed Obligations any sums by whomever paid or however realized to any Guaranteed Obligation in such order as
provided in the Loan Documents; 
 (c) refund at any time any payment received by any Secured Party in respect of any Guaranteed Obligation;

 (d) in each case, to the extent not in violation of this Agreement (i) sell, exchange, enforce, waive, substitute, liquidate,
terminate, release, abandon, fail to perfect, subordinate, accept, substitute, surrender, exchange, affect, impair or otherwise alter or release any Collateral for any Guaranteed Obligation or any other guaranty therefor in any manner,
(ii) receive, take and hold additional Collateral to secure any Guaranteed Obligation, (iii) add, release or substitute any one or more other Guarantors, makers or endorsers of any Guaranteed Obligation or any part thereof and
(iv) otherwise deal in any manner with the Borrower and any other Guarantor, maker or endorser of any Guaranteed Obligation or any part thereof; and 
 (e) to the extent not in violation of this Agreement, settle, release, compromise, collect or otherwise liquidate the Guaranteed Obligations. 
  

					
		  	7	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 2.5 Guaranty Absolute and Unconditional. Each Guarantor hereby waives and
agrees not to assert any defense, whether arising in connection with or in respect of any of the following or otherwise, and hereby agrees that its obligations under this Guaranty are irrevocable, absolute and unconditional and shall not be
discharged as a result of or otherwise affected by any of the following (which may not be pleaded and evidence of which may not be introduced in any proceeding with respect to this Guaranty, in each case except as otherwise agreed in writing by the
Collateral Agent): 
 (a) the invalidity or unenforceability of any obligation of the Borrower or any other Guarantor under any Loan Document
or any other agreement or instrument relating thereto (including any amendment, consent or waiver thereto), or any security for, or other guaranty of, any Guaranteed Obligation or any part thereof, or the lack of perfection or continuing perfection
or failure of priority of any security for the Guaranteed Obligations or any part thereof; 
 (b) the absence of (i) any attempt to
collect any Guaranteed Obligation or any part thereof from the Borrower or any other Guarantor or other action to enforce the same or (ii) any action to enforce any Loan Document or any Lien thereunder; 
 (c) the failure by any Person to take any steps to perfect and maintain any Lien on, or to preserve any rights with respect to, any Collateral;

 (d) any workout, insolvency, bankruptcy proceeding, reorganization, arrangement, liquidation or dissolution by or against the Borrower,
any other Guarantor or any of the Borrower’s other Subsidiaries or any procedure, agreement, order, stipulation, election, action or omission thereunder, including any discharge or disallowance of, or bar or stay against collecting, any
Guaranteed Obligation (or any interest thereon) in or as a result of any such proceeding; 
 (e) any foreclosure, whether or not through
judicial sale, and any other sale of any Collateral or any election following the occurrence of an Event of Default by any Secured Party to proceed separately against any Collateral in accordance with such Secured Party’s rights under any
applicable Requirement of Law and in accordance with terms of this Agreement; or 
 (f) any other defense, setoff, counterclaim or any other
circumstance that might otherwise constitute a legal or equitable discharge of the Borrower, any other Guarantor or any of the Borrower’s other Subsidiaries, in each case other than the payment in full of the Guaranteed Obligations. 

Section 2.6 Waivers. Each Guarantor hereby unconditionally and irrevocably waives and agrees not to assert any claim, defense,
setoff or counterclaim based on diligence, promptness, presentment, requirements for any demand or notice hereunder including any of the following: (a) any demand for payment or performance and protest and notice of protest, (b) any
notice of acceptance, (c) any presentment, demand, protest or further notice or other requirements of any kind with respect to any Guaranteed Obligation (including any accrued but unpaid interest thereon) becoming immediately due and payable
and (d) any other notice in respect of any Guaranteed Obligation or any part thereof, and any defense arising by reason of any disability or other defense of the Borrower or any other Guarantor. Each Guarantor further unconditionally and
irrevocably agrees not to (x) enforce or otherwise exercise any right of subrogation or any right of reimbursement or contribution or similar right against the Borrower or any other 

  

					
		  	8	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
Guarantor by reason of any Loan Document or any payment made thereunder or (y) assert any claim, defense, setoff or counterclaim it may have against any
other Loan Party or set off any of its obligations to such other Loan Party against obligations of such Loan Party to such Guarantor. No obligation of any Guarantor hereunder shall be discharged other than by complete performance, other than as
permitted under the Credit Agreement. 
 Section 2.7 Reliance. Each Guarantor hereby assumes responsibility for keeping
itself informed of the financial condition of the Borrower, each other Guarantor and any other guarantor, maker or endorser of any Guaranteed Obligation or any part thereof, and of all other circumstances bearing upon the risk of nonpayment of any
Guaranteed Obligation or any part thereof that diligent inquiry would reveal, and each Guarantor hereby agrees that no Secured Party shall have any duty to advise any Guarantor of information known to it regarding such condition or any such
circumstances. In the event any Secured Party, in its sole discretion, undertakes at any time or from time to time to provide any such information to any Guarantor, such Secured Party shall be under no obligation to (a) undertake any
investigation not a part of its regular business routine, (b) disclose any information that such Secured Party, pursuant to accepted or reasonable commercial finance or banking practices, wishes to maintain confidential or (c) make any
future disclosures of such information or any other information to any Guarantor. 
 ARTICLE III 
 GRANT OF SECURITY INTEREST 
 Section 3.1 Collateral. For the purposes of this Agreement, all of the following property now owned or at any time hereafter acquired by a Grantor or in which a Grantor now has or at any time in the future may acquire any
right, title or interests is collectively referred to as the “Collateral”: 
 (a) all accounts, chattel paper, deposit
accounts, documents (as defined in the UCC), equipment, general intangibles, instruments, inventory, investment property and any supporting obligations related thereto; 
 (b) the commercial tort claims described on Schedule 1 and on any supplement thereto received by the Collateral Agent pursuant to Section 5.9; 
 (c) all (i) Patents owned by a Grantor and all reissues, reexaminations, continuations, continuations-in-part, divisionals, and extensions of such
Patents; (ii) Trademarks owned by a Grantor and all renewals and extensions of such Trademarks, and (iii) Copyrights owned by a Grantor and all renewals, reversions and extensions of such Copyrights, and all income, royalties, proceeds and
Liabilities at any time due or payable or asserted under and with respect to any of the foregoing, including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, or other violation thereof; and 
 (d) all books and records pertaining to the other property described in this
Section 3.1; 
 (e) all property of such Grantor held by any Secured Party, including all property of every description, in the
custody of or in transit to such Secured Party for any purpose, including safekeeping, collection or pledge, for the account of such Grantor or as to which such Grantor may have any right or power, including but not limited to cash; 
  

					
		  	9	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 (f) all other goods (including but not limited to fixtures) and personal property of such Grantor,
whether tangible or intangible and wherever located; and 
 (g) to the extent not otherwise included, all proceeds of the foregoing;

 provided, however, that “Collateral” shall not include any Excluded Property; and provided, further, that if
and when any property shall cease to be Excluded Property, such property shall be deemed at all times from and after the date hereof to constitute Collateral. 
 Section 3.2 Grant of Security Interest in Collateral. 
 (a) Each Grantor, as collateral security
for the full, prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the First Lien Secured Obligations of such Grantor, hereby mortgages, pledges and hypothecates to the First Lien
Collateral Agent for the benefit of the First Lien Secured Parties, and grants to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties a lien on and security interest in, all of its right, title and interest in, to and
under the Collateral of such Grantor. The continuous security interest and Lien on the Collateral granted in this Section 3.2(a) by the Grantors to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties are
referred to as the “First Liens”. 
 (b) Each Grantor, as collateral security for the full, prompt and complete payment and
performance when due (whether at stated maturity, by acceleration or otherwise) of the Second Lien Secured Obligations of such Grantor, hereby mortgages, pledges and hypothecates to the Second Lien Collateral Agent for the benefit of the Second Lien
Secured Parties, and grants to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties a lien on and security interest in, all of its right, title and interest in, to and under the Collateral of such Grantor. The
continuous security interest and Lien on the Collateral granted in this Section 2.2(b) by the Grantors to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties are referred to as the “Second
Liens”. 
 (c) Notwithstanding anything to the contrary contained in this Agreement, the First Liens on the Collateral shall take
priority over the Second Liens on the Collateral and the Second Liens on the Collateral shall be and are hereby rendered subordinate and junior in priority to the First Liens on the Collateral on the terms set forth in, and subject to the terms and
conditions of, the Intercreditor Agreement. 
 ARTICLE IV 
 REPRESENTATIONS AND WARRANTIES 
 To induce the First Lien Lenders and the Second Lien Lenders, the
Administrative Agents and the Collateral Agent to enter into the Loan Documents, each Grantor hereby represents and warrants each of the following to the Collateral Agent, for the benefit of the Secured Parties: 
 Section 4.1 Title; No Other Liens. Except for the Lien granted to the Collateral Agent pursuant to this Agreement and other Permitted
Liens (except for those Permitted Liens not permitted to exist on any Collateral) under any Loan Document (including Section 4.2), such Grantor owns each item of the Collateral free and clear of any and all Liens or adverse claims of
others. Such Grantor (a) is the record and beneficial owner of the Collateral pledged by it hereunder constituting instruments or certificates and (b) has rights in or the power to transfer each other item of Collateral in which a Lien is
granted by it hereunder, free and clear of any other Lien (except for the Liens granted to the Collateral Agent pursuant to this Agreement and other Permitted Liens (except for those Permitted Liens not permitted to exist on any Collateral)).

  

					
		  	10	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 4.2 Perfection and Priority. The security interest granted pursuant to this
Agreement constitutes a valid and continuing perfected security interest in favor of the Collateral Agent in all Collateral subject, for the following Collateral, to the occurrence of the following: (i) in the case of all Collateral in which a
security interest may be perfected by filing a financing statement under the UCC, the completion of the filings and other actions specified on Schedule 2 (which, in the case of all filings and other documents referred to on such
schedule, have been delivered to the Collateral Agent in completed and duly authorized form), (ii) with respect to any deposit account, the execution of Control Agreements, (iii) in the case of all Copyrights, Trademarks and Patents for
which UCC filings are insufficient, all appropriate filings having been made and recorded with the United States Copyright Office or the United States Patent and Trademark Office, as applicable, (iv) in the case of letter-of-credit rights that
are not supporting obligations of Collateral, the execution of a Contractual Obligation granting control to the Collateral Agent over such letter-of-credit rights, (v) in the case of electronic chattel paper, the completion of all steps
necessary to grant control to the Collateral Agent over such electronic chattel paper and (vi) in the case of Vehicles, the actions required under Section 5.1(e). With the exception of the subordination of the Second Liens to the
First Liens subject to the terms and conditions of the Intercreditor Agreement, such security interest shall be prior to all other Liens on the Collateral except for Customary Permitted Liens having priority over the Collateral Agent’s Lien by
operation of law or unless otherwise permitted by any Loan Document upon (i) in the case of all Pledged Certificated Stock, Pledged Debt Instruments and Pledged Investment Property, the delivery thereof to the Collateral Agent of such Pledged
Certificated Stock, Pledged Debt Instruments and Pledged Investment Property consisting of instruments and certificates, in each case properly endorsed for transfer to the Collateral Agent or in blank, (ii) in the case of all Pledged Investment
Property not in certificated form, the execution of Control Agreements with respect to such investment property and (iii) in the case of all other instruments and tangible chattel paper that are not Pledged Certificated Stock, Pledged Debt
Instruments or Pledged Investment Property, the delivery thereof to the Collateral Agent of such instruments and tangible chattel paper. Except as set forth in this Section 4.2, all actions by each Grantor necessary or desirable to
protect and perfect the Lien granted hereunder on the Collateral have been duly taken. 
 Section 4.3 Jurisdiction of
Organization; Chief Executive Office. Such Grantor’s jurisdiction of organization, legal name and organizational identification number, if any, and the location of such Grantor’s chief executive office or sole place of business, in
each case as of the date hereof, is specified on Schedule 3 and such Schedule 3 also lists all jurisdictions of incorporation, legal names and locations of such Grantor’s chief executive office or sole place of business
for the five years preceding the date hereof. 
  

					
		  	11	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 4.4 Locations of Inventory, Equipment and Books and Records. On the date
hereof, such Grantor’s inventory and equipment (other than inventory or equipment in transit, equipment being repaired or Collateral with a book value not exceeding $100,000) and books and records concerning the Collateral are kept at the
locations listed on Schedule 4. 
 Section 4.5 Pledged Collateral. (a) The Pledged Stock pledged by such
Grantor hereunder (a) is listed on Schedule 5 or a Pledge Amendment and constitutes that percentage of the issued and outstanding equity of all classes of each issuer thereof as set forth on Schedule 5, (b) has been
duly authorized, validly issued and is fully paid and nonassessable (other than Pledged Stock in limited liability companies and partnerships) and (c) constitutes the legal, valid and binding obligation of the obligor with respect thereto,
enforceable in accordance with its terms. 
 (b) As of the Closing Date, all Pledged Collateral (other than Pledged Uncertificated Stock) and
all Pledged Investment Property consisting of instruments and certificates has been delivered to the Collateral Agent to the extent required in accordance with Section 5.3(a). 
 (c) Upon the occurrence and during the continuance of an Event of Default, the Collateral Agent shall be entitled to exercise all of the rights of the
Grantor granting the security interest in any Pledged Stock, and a transferee or assignee of such Pledged Stock shall become a holder of such Pledged Stock to the same extent as such Grantor and be entitled to participate in the management of the
issuer of such Pledged Stock and, upon the transfer of the entire interest of such Grantor, such Grantor shall, by operation of law, cease to be a holder of such Pledged Stock. 
 Section 4.6 Instruments and Tangible Chattel Paper Formerly Accounts. No amount payable to such Grantor under or in connection with
any account is evidenced by any instrument or tangible chattel paper that has not been delivered to the Collateral Agent, properly endorsed for transfer, to the extent delivery is required by Section 5.6(a). 
 Section 4.7 Intellectual Property. (a) Schedule 6 sets forth a true and complete list of the following Intellectual
Property such Grantor owns: (i) Intellectual Property that is registered or subject to applications for registration, (ii) Internet Domain Names and (iii) Material Intellectual Property and material Software, separately identifying
that owned by such Grantor and including for each of the foregoing items (1) the owner, (2) the title, (3) the jurisdiction in which such item has been registered or otherwise arises or in which an application for registration has
been filed and (4) as applicable, the registration or application number and registration or application date. Schedule 6 sets forth a true and complete list of all material IP Licenses to which a Grantor grants or obtains rights to use
Intellectual Property, other than the rights to use readily available commercial Software. 
 (b) On the Closing Date, all Material
Intellectual Property owned by such Grantor is valid, in full force and effect, subsisting, unexpired and enforceable, and no Material Intellectual Property has been abandoned. The consummation of the transactions contemplated by any Loan Document
shall not cause any breach or default of any material IP License, and shall not limit or impair the ownership, use, validity or enforceability of, or any rights of such Grantor in, any Material Intellectual Property. No holding, decision, judgment
or order rendered by any Governmental Authority shall materially limit or impair the ownership, use, validity or enforceability of, any rights of such Grantor in, any Material Intellectual Property. There are no 

  

					
		  	12	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
pending (or, to the knowledge of such Grantor, threatened) actions, investigations, suits, proceedings, audits, claims, demands, orders or disputes against
any Grantor challenging the ownership, use, validity, enforceability of, or such Grantor’s rights in, any Material Intellectual Property of such Grantor. To such Grantor’s knowledge, no Person has been or is infringing, misappropriating,
diluting, violating or otherwise impairing any Intellectual Property of such Grantor. Such Grantor, and to such Grantor’s knowledge each other party thereto, is not in material breach or default of any material IP License. 
 Section 4.8 Commercial Tort Claims. The only commercial tort claims of any Grantor existing on the Closing Date which might reasonably
result in awarded damages (less any and all legal and other expenses incurred or reasonably expected to be incurred by such Grantor) in excess of $100,000) are those listed on Schedule 1, which sets forth such information separately for
each Grantor. 
 Section 4.9 Specific Collateral. None of the Collateral is or is proceeds or products of farm products,
as-extracted collateral, health-care-insurance receivables or timber to be cut. 
 Section 4.10 Enforcement. No Permit,
notice to or filing with any Governmental Authority or any other Person or any consent from any Person is required for the exercise by the Collateral Agent of its rights (including voting rights) provided for in this Agreement or the enforcement of
remedies in respect of the Collateral pursuant to this Agreement, including the transfer of any Collateral, except as may be required in connection with the disposition of any portion of the Pledged Collateral by laws affecting the offering and sale
of securities generally or any approvals that may be required to be obtained from any bailees or landlords to collect the Collateral. 
 Section 4.11 Representations and Warranties of the Credit Agreements. The representations and warranties as to such Grantor and its Subsidiaries made by the Borrower in Article IV (Representations and
Warranties) of each Credit Agreement are true and correct on each date as required by Section 3.2(b) of each Credit Agreement. 
 ARTICLE V 
 COVENANTS 
 Each Grantor agrees with the Collateral Agent to the following, as long as any Obligation or Commitment remains outstanding and, in each case, unless, subject to the Intercreditor Agreement, the Required Lenders otherwise consent in
writing: 
 Section 5.1 Maintenance of Perfected Security Interest; Further Documentation and Consents.
(a) Generally. Such Grantor shall (i) not use or permit any Collateral to be used in violation of any provision of any Loan Document, any Related Document, any material Requirement of Law or any material provision of policy of
insurance covering the Collateral and (ii) not enter into any Contractual Obligation or undertaking restricting the right or ability of such Grantor or the Collateral Agent to Sell any Collateral if such restriction would reasonably be expected
to have a Material Adverse Effect. 
 (b) Such Grantor shall maintain the security interest created by this Agreement as a perfected security
interest having at least the priority described in Section 4.2 and shall defend such security interest and such priority against the claims and demands of all Persons. 
  

					
		  	13	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 (c) Pursuant to Section 6.1(e) of each Credit Agreement, such Grantor shall furnish to the
Collateral Agent from time to time statements and schedules further identifying and describing the Collateral and such other documents in connection with the Collateral as the Collateral Agent may reasonably request, all in reasonable detail and in
form and substance satisfactory to the Collateral Agent. 
 (d) At any time and from time to time, upon the reasonable written request of the
Collateral Agent, such Grantor shall, for the purpose of obtaining or preserving the full benefits of this Agreement and of the rights and powers herein granted, (i) promptly and duly execute and deliver, and have recorded, such further
documents, including an authorization to file (or, as applicable, the filing) of any financing statement or amendment under the UCC (or other filings under similar Requirements of Law) in effect in any jurisdiction with respect to the security
interest created hereby and (ii) take such further action as the Collateral Agent may reasonably request, including (A) using its best efforts to secure all approvals necessary or appropriate for the assignment to or for the benefit of the
Collateral Agent of any Contractual Obligation, including any IP License, held by such Grantor and to enforce the security interests granted hereunder and (B) executing and delivering any Control Agreements with respect to deposit accounts and
securities accounts to the extent required by the Credit Agreement. 
 (e) If requested by the Collateral Agent, the Grantor shall arrange
for the Collateral Agent’s first priority security interest or second priority security interest, as applicable, to be noted on the certificate of title of each Vehicle and shall file any other necessary documentation in each jurisdiction that
the Collateral Agent shall deem advisable to perfect its first priority security interests or second priority security interest, as applicable, in any Vehicle. 
 (f) To ensure that any of the Excluded Property set forth in clause (ii) of the definition of “Excluded Property” becomes part of the Collateral, such Grantor shall use its best efforts to
obtain any required consents from any Person other than the Borrower and its Affiliates with respect to any permit or license or any Contractual Obligation with such Person entered into by such Grantor that requires such consent as a condition to
the creation by such Grantor of a Lien on any right, title or interest in such permit, license or Contractual Obligation or any Stock or Stock Equivalent related thereto. 
 Section 5.2 Changes in Locations, Name, Etc. Except upon 5 days’ prior written notice to the Collateral Agent and delivery to the Collateral Agent of (a) all documents reasonably requested
by the Collateral Agent to maintain the validity, perfection and priority of the security interests provided for herein and (b) if applicable, a written supplement to Schedule 4 showing any additional locations at which inventory or
equipment shall be kept (other than inventory or equipment in transit, equipment being repaired or Collateral with a book value not exceeding $100,000), such Grantor shall not do any of the following: 
 (i) permit any inventory or equipment to be kept at a location other than those listed on Schedule 4, except for inventory or
equipment in transit, equipment being repaired or Collateral with a book value not exceeding $100,000; 
  

					
		  	14	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 (ii) change its jurisdiction of organization or its location, in each case from that
referred to in Section 4.3 without delivering to the Collateral Agent a written supplement to Schedule 4 showing such jurisdiction or location; or 
 (iii) change its legal name or organizational identification number, if any, or corporation, limited liability company, partnership or
other organizational structure to such an extent that any financing statement filed in connection with this Agreement would become misleading. 
 Section 5.3 Pledged Collateral. (a) Delivery of Pledged Collateral. Such Grantor shall (i) deliver to the Collateral Agent, in suitable form for transfer and in form and substance satisfactory to the
Collateral Agent, (A) all Pledged Certificated Stock, (B) all Pledged Debt Instruments and (C) all certificates and instruments evidencing Pledged Investment Property and (ii) maintain all other Pledged Investment Property in a
Controlled Securities Account. 
 (b) Event of Default. During the continuance of an Event of Default, the Collateral Agent shall have
the right, at any time in its discretion and without notice to the Grantor, to (i) transfer to or to register in its name or in the name of its nominees any Pledged Collateral or any Pledged Investment Property and (ii) exchange any
certificate or instrument representing or evidencing any Pledged Collateral or any Pledged Investment Property for certificates or instruments of smaller or larger denominations. 
 (c) Cash Distributions with respect to Pledged Collateral. Except as provided in Article VI, such Grantor shall be entitled to receive
all cash distributions paid in respect of the Pledged Collateral. 
 (d) Voting Rights. Except as provided in Article VI,
such Grantor shall be entitled to exercise all voting, consent and corporate, partnership, limited liability company and similar rights with respect to the Pledged Collateral; provided, however, that no vote shall be cast, consent
given or right exercised or other action taken by such Grantor that would impair the Collateral or be inconsistent with or result in any violation of any provision of any Loan Document. 
 Section 5.4 Accounts. (a) Such Grantor shall not, other than in the ordinary course of business, (i) grant any extension of
the time of payment of any account, (ii) compromise or settle any account for less than the full amount thereof, (iii) release, wholly or partially, any Person liable for the payment of any account, (iv) allow any credit or discount
on any account or (v) amend, supplement or modify any account in any manner that could adversely affect the value thereof. 
 (b) The
Collateral Agent shall have the right to make test verifications of the Accounts in any manner and through any medium that it reasonably considers advisable, and such Grantor shall furnish all such assistance and information as the Collateral Agent
may reasonably require in connection therewith. At any time and from time to time, upon the Collateral Agent’s request, such Grantor shall cause independent public accountants or others satisfactory to the Collateral Agent to furnish to the
Collateral Agent reports, if available, showing reconciliations, aging and test verifications of, and trial balances for, the accounts; provided, however, that unless a Default shall be continuing, the Collateral Agent shall request no
more than four such reports during any calendar year. 
  

					
		  	15	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 5.5 Commodity Contracts. Such Grantor shall not have any commodity contract
other than with a Person approved by the Collateral Agent and subject to a Control Agreement. 
 Section 5.6 Delivery of
Instruments and Tangible Chattel Paper and Control of Investment Property, Letter-of-Credit Rights and Electronic Chattel Paper. (a) If any amount in excess of $100,000 payable under or in connection with any Collateral owned by such
Grantor shall be or become evidenced by an instrument or tangible chattel paper other than such instrument delivered in accordance with Section 5.3(a) and in the possession of the Collateral Agent, such Grantor, at the reasonable request of the
Collateral Agent (i) shall mark all such instruments and tangible chattel paper with the following legend: “This writing and the obligations evidenced or secured hereby are subject to the security interest of General Electric Capital
Corporation, as Collateral Agent” and (ii) shall immediately deliver such instrument or tangible chattel paper to the Collateral Agent, duly indorsed in a manner satisfactory to the Collateral Agent. 
 (b) Such Grantor shall not grant “control” (within the meaning of such term under Article 9-106 of the UCC) over any investment property
to any Person other than the Collateral Agent, other than with respect to Permitted Liens . 
 (c) If such Grantor is or becomes the
beneficiary of a letter of credit that is (i) not a supporting obligation of any Collateral and (ii) in excess of $100,000, such Grantor shall promptly, and in any event within 2 Business Days after becoming a beneficiary, notify the
Collateral Agent thereof and enter into a Contractual Obligation with the Collateral Agent, the issuer of such letter of credit or any nominated person with respect to the letter-of-credit rights under such letter of credit. Such Contractual
Obligation shall assign such letter-of-credit rights to the Collateral Agent and such assignment shall be sufficient to grant control for the purposes of Section 9-107 of the UCC (or any similar section under any equivalent UCC). Such
Contractual Obligation shall also direct all payments thereunder to a Security Cash Collateral Account. The provisions of the Contractual Obligation shall be in form and substance reasonably satisfactory to the Collateral Agent. 
 (d) If any amount in excess of $100,000 payable under or in connection with any Collateral owned by such Grantor shall be or become evidenced by
electronic chattel paper, such Grantor shall take all steps necessary to grant the Collateral Agent control of all such electronic chattel paper for the purposes of Section 9-105 of the UCC (or any similar section under any equivalent UCC) and
all “transferable records” as defined in each of the Uniform Electronic Transactions Act and the Electronic Signatures in Global and National Commerce Act. 
 Section 5.7 Intellectual Property. (a) Within 60 days after any addition of registered or applied-for Intellectual Property owned by such Grantor to Schedule 6 for such Grantor,
such Grantor shall provide the Collateral Agent notification thereof and the short-form intellectual property agreements and assignments as described in this Section 5.7 and other documents that the Collateral Agent reasonably requests
with respect thereto. 
 (b) Such Grantor shall (and shall cause all its licensees to) (i) (1) continue to use each Trademark included
in the Material Intellectual Property owned by such Grantor in order to maintain such Trademark in full force and effect with respect to each class of goods for which such Trademark is currently used, free from any claim of abandonment for non-use,
(2) maintain at least the same standards of quality of products and services offered under such 

  

					
		  	16	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
Trademark as are currently maintained, (3) use such Trademark with the appropriate notice of registration and all other notices and legends required by
applicable Requirements of Law, (4) not adopt or use any other Trademark that is confusingly similar or a colorable imitation of such Trademark unless the Collateral Agent shall obtain a perfected security interest in such other Trademark
pursuant to this Agreement within 60 days period after such adoption or use and (ii) not do any act or omit to do any act whereby (w) such Trademark (or any goodwill associated therewith) may become destroyed, invalidated, impaired or
harmed in any way, (x) any Patent included in the Material Intellectual Property owned by such Grantor may become forfeited, misused, unenforceable, abandoned or dedicated to the public, (y) any portion of the Copyrights included in the
Material Intellectual Property owned by such Grantor may become invalidated, otherwise impaired or fall into the public domain or (z) any Trade Secret that is Material Intellectual Property owned by such Grantor may become publicly available or
otherwise unprotectable. 
 (c) Such Grantor shall notify the Collateral Agent immediately if it knows, or has reason to know, that any
application or registration relating to any Material Intellectual Property may become forfeited, misused, unenforceable, abandoned or dedicated to the public, or of any adverse determination or development regarding the validity or enforceability or
such Grantor’s ownership of, interest in, right to use, register, own or maintain any Material Intellectual Property (including the institution of, or any such determination or development in, any proceeding relating to the foregoing in any
Applicable IP Office). Such Grantor shall take all actions that are necessary or reasonably requested by the Collateral Agent to maintain and pursue each application (and to obtain the relevant registration or recordation) and to maintain each
registration and recordation included in the Material Intellectual Property owned by such Grantor. 
 (d) Such Grantor shall not knowingly do
any act or omit to do any act to materially infringe, misappropriate, dilute, violate or otherwise impair the Intellectual Property of any other Person. In the event that any Material Intellectual Property of such Grantor is or has been infringed,
misappropriated, violated, diluted or otherwise impaired by a third party, such Grantor shall take such action as it reasonably deems appropriate under the circumstances in response thereto, including bringing suit and recovering all damages
therefor within a reasonable time frame. 
 (e) Such Grantor shall execute and deliver to the Collateral Agent in form and substance
reasonably acceptable to the Collateral Agent and suitable for (i) filing in the Applicable IP Office the short-form intellectual property security agreements in the form attached hereto as Annex 3 for all Copyrights, Trademarks,
Patents and IP Licenses of such Grantor and (ii) recording with the appropriate Internet domain name registrar, a duly executed form of assignment for all Internet Domain Names of such Grantor (together with appropriate supporting documentation
as may be requested by the Collateral Agent). 
 Section 5.8 Notices. Such Grantor shall promptly notify the Collateral
Agent in writing of its acquisition of any interest hereafter in property that is of a type where a security interest or lien must be or may be registered, recorded or filed under, or notice thereof given under, any federal statute or regulation
(other than with respect to Intellectual Property covered under Section 5.7). 
 Section 5.9 Notice of Commercial Tort
Claims. Such Grantor agrees that, if it shall acquire any interest in any commercial tort claim (whether from another Person or because such commercial tort claim shall have come into existence) which might reasonably result in awarded 

  

					
		  	17	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
damages (less any and all legal and other expenses incurred or reasonably expected to be incurred by such Grantor) in excess of $100,000), (i) such
Grantor shall, on the last day of each calendar month, deliver to the Collateral Agent, in each case in form and substance satisfactory to the Collateral Agent, a notice of the existence and nature of such commercial tort claim and a supplement to
Schedule 1 containing a specific description of such commercial tort claim, (ii) Section 3.1 shall apply to such commercial tort claim and (iii) such Grantor shall execute and deliver to the Collateral Agent, in
each case in form and substance satisfactory to the Collateral Agent, any document, and take all other action, deemed by the Collateral Agent to be reasonably necessary or appropriate for the Collateral Agent to obtain, on behalf of the Lenders, a
perfected security interest having at least the priority set forth in Section 4.2 in all such commercial tort claims. Any supplement to Schedule 1 delivered pursuant to this Section 5.9 shall, after the receipt
thereof by the Collateral Agent, become part of Schedule 1 for all purposes hereunder other than in respect of representations and warranties made prior to the date of such receipt. 
 Section 5.10 Compliance with Credit Agreement. Such Grantor agrees to comply with all covenants and other provisions applicable to it
under the Credit Agreement, including Sections 2.17 (Taxes), 11.3 (Costs and Expenses) and 11.4 (Indemnities) of the Credit Agreement and agrees to the same submission to jurisdiction as that agreed to by
the Borrower in the Credit Agreement. 
 ARTICLE VI 
 REMEDIAL PROVISIONS 
 Section 6.1 Code and Other Remedies. (a) UCC Remedies.
During the continuance of an Event of Default, the Collateral Agent may in accordance with the terms of the Intercreditor Agreement exercise, in addition to all other rights and remedies granted to it in this Agreement and in any other instrument or
agreement securing, evidencing or relating to any Secured Obligation, all rights and remedies of a secured party under the UCC or any other applicable law. 
 (b) Disposition of Collateral. Without limiting the generality of the foregoing, the Collateral Agent may, without demand of performance or other demand, presentment, protest, advertisement or notice of any
kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), during the continuance of any Event of Default (personally
or through its agents or attorneys), (i) enter upon the premises where any Collateral is located, without any obligation to pay rent, through self-help, without judicial process, without first obtaining a final judgment or giving any Grantor or
any other Person notice or opportunity for a hearing on the Collateral Agent’s claim or action, (ii) collect, receive, appropriate and realize upon any Collateral and (iii) Sell, grant option or options to purchase and deliver any
Collateral (enter into Contractual Obligations to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of any Secured Party or elsewhere upon such terms and conditions as
it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. Subject to the terms of the Intercreditor Agreement, the Collateral Agent shall have the right, upon
any such public sale or sales and, to the extent permitted by the UCC and other applicable Requirements of Law, upon any such private sale, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption of any
Grantor, which right or equity is hereby waived and released. 
  

					
		  	18	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 (c) Management of the Collateral. Each Grantor further agrees, that, during the continuance of any
Event of Default, (i) at the Collateral Agent’s request, it shall assemble the Collateral and make it available to the Collateral Agent at places that the Collateral Agent shall reasonably select, whether at such Grantor’s premises or
elsewhere, (ii) without limiting the foregoing, the Collateral Agent also has the right to require that each Grantor store and keep any Collateral pending further action by the Collateral Agent and, while any such Collateral is so stored or
kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Collateral Agent is able to Sell any Collateral, the Collateral Agent
shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Collateral Agent and (iv) the Collateral
Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Collateral Agent’s remedies (for the benefit of the Secured Parties), with respect to such appointment
without prior notice or hearing as to such appointment. The Collateral Agent shall not have any obligation to any Grantor to maintain or preserve the rights of any Grantor as against third parties with respect to any Collateral while such Collateral
is in the possession of the Collateral Agent. 
 (d) Application of Proceeds. The Collateral Agent shall apply the cash proceeds of
any action taken by it pursuant to this Section 6.1 in accordance with the terms of each of the Credit Agreements and the Intercreditor Agreement. 
 (e) Direct Obligation. Neither the Collateral Agent nor any other Secured Party shall be required to make any demand upon, or pursue or exhaust any right or remedy against, any Grantor, any other Loan Party or
any other Person with respect to the payment of the Obligations or to pursue or exhaust any right or remedy with respect to any Collateral therefor or any direct or indirect guaranty thereof. All of the rights and remedies of the Collateral Agent
and any other Secured Party under any Loan Document shall be cumulative, may be exercised individually or concurrently and not exclusive of any other rights or remedies provided by any Requirement of Law. To the extent it may lawfully do so, each
Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against the Collateral Agent or any Lender, any valuation, stay, appraisement, extension, redemption or similar laws and any and all
rights or defenses it may have as a surety, now or hereafter existing, arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of any Collateral shall be required by law, such notice shall
be deemed reasonable and proper if given at least 10 days before such sale or other disposition. 
 (f) Commercially Reasonable. To
the extent that applicable Requirements of Law impose duties on the Collateral Agent to exercise remedies in a commercially reasonable manner, each Grantor acknowledges and agrees that it is not commercially unreasonable for the Collateral Agent to
do any of the following: 
 (i) fail to incur significant costs, expenses or other Liabilities reasonably deemed as such by
the Collateral Agent to prepare any Collateral for disposition or otherwise to complete raw material or work in process into finished goods or other finished products for disposition; 
 (ii) fail to obtain Permits, or other consents, for access to any Collateral to Sell or for the collection or Sale of any Collateral, or,
if not required by other Requirements of Law, fail to obtain Permits or other consents for the collection or disposition of any Collateral; 
  

					
		  	19	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 (iii) fail to exercise remedies against account debtors or other Persons obligated on any
Collateral or to remove Liens on any Collateral or to remove any adverse claims against any Collateral; 
 (iv) advertise
dispositions of any Collateral through publications or media of general circulation, whether or not such Collateral is of a specialized nature or to contact other Persons, whether or not in the same business as any Grantor, for expressions of
interest in acquiring any such Collateral; 
 (v) exercise collection remedies against account debtors and other Persons
obligated on any Collateral, directly or through the use of collection agencies or other collection specialists, hire one or more professional auctioneers to assist in the disposition of any Collateral, whether or not such Collateral is of a
specialized nature or, to the extent deemed appropriate by the Collateral Agent, obtain the services of other brokers, investment bankers, consultants and other professionals to assist the Collateral Agent in the collection or disposition of any
Collateral, or utilize Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capacity of doing so, or that match buyers and sellers of assets to dispose of any Collateral;

 (vi) dispose of assets in wholesale rather than retail markets; 
 (vii) disclaim disposition warranties, such as title, possession or quiet enjoyment; or 
 (viii) purchase insurance or credit enhancements to insure the Collateral Agent against risks of loss, collection or disposition of any
Collateral or to provide to the Collateral Agent a guaranteed return from the collection or disposition of any Collateral. 
 Each Grantor acknowledges that
the purpose of this Section 6.1 is to provide a non-exhaustive list of actions or omissions that are commercially reasonable when exercising remedies against any Collateral and that other actions or omissions by the Secured Parties shall
not be deemed commercially unreasonable solely on account of not being indicated in this Section 6.1. Without limitation upon the foregoing, nothing contained in this Section 6.1 shall be construed to grant any rights to any
Grantor or to impose any duties on the Collateral Agent that would not have been granted or imposed by this Agreement or by applicable Requirements of Law in the absence of this Section 6.1. 
 (g) IP Licenses. For the purpose of enabling the Collateral Agent to exercise rights and remedies under this Section 6.1 (including in
order to take possession of, collect, receive, assemble, process, appropriate, remove, realize upon, Sell or grant options to purchase any Collateral) at such time as the Collateral Agent shall be lawfully entitled to exercise such rights and
remedies, each Grantor hereby grants to the Collateral Agent, for the benefit of the Secured Parties, (i) an irrevocable, nonexclusive, worldwide license (exercisable without payment of royalty or other compensation to such Grantor), including
in such license the right to sublicense, use and practice any Intellectual Property now owned or hereafter acquired by such Grantor and access to all media in which any of the licensed items may be recorded or stored and 

  

					
		  	20	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
to all Software and programs used for the compilation or printout thereof and (ii) an irrevocable license (without payment of rent or other compensation
to such Grantor) to use, operate and occupy all Real Property owned, operated, leased, subleased or otherwise occupied by such Grantor. 
 Section 6.2 Accounts and Payments in Respect of General Intangibles. (a) In addition to, and not in substitution for, any similar requirement in the Credit Agreement, if required by the Collateral Agent at any time
during the continuance of an Event of Default, any payment of accounts or payment in respect of general intangibles, when collected by any Grantor, shall be promptly (and, in any event, within 2 Business Days) deposited by such Grantor in the exact
form received, duly indorsed by such Grantor to the Collateral Agent, in a Security Cash Collateral Account, subject to withdrawal by the Collateral Agent as provided in Section 6.4. Until so turned over, such payment shall be held by
such Grantor in trust for the Collateral Agent. 
 (b) At any time during the continuance of an Event of Default: 
 (i) each Grantor shall, upon the Collateral Agent’s request, deliver to the Collateral Agent all original and other documents
evidencing, and relating to, the Contractual Obligations and transactions that gave rise to any account or any payment in respect of general intangibles, including all original orders, invoices and shipping receipts and notify account debtors that
the accounts or general intangibles have been collaterally assigned to the Collateral Agent and that payments in respect thereof shall be made directly to the Collateral Agent; 
 (ii) the Collateral Agent may, without notice, at any time during the continuance of an Event of Default, limit or terminate the authority
of a Grantor to collect its accounts or amounts due under general intangibles or any thereof and, in its own name or in the name of others, communicate with account debtors to verify with them to the Collateral Agent’s satisfaction the
existence, amount and terms of any account or amounts due under any general intangible. In addition, the Collateral Agent may at any time enforce such Grantor’s rights against such account debtors and obligors of general intangibles; and

 (iii) each Grantor shall take all actions, deliver all documents and provide all information necessary or reasonably
requested by the Collateral Agent to ensure any Internet Domain Name is registered. 
 (c) Anything herein to the contrary notwithstanding,
each Grantor shall remain liable under each account and each payment in respect of general intangibles to observe and perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any
agreement giving rise thereto. No Secured Party shall have any obligation or liability under any agreement giving rise to an account or a payment in respect of a general intangible by reason of or arising out of any Loan Document or the receipt by
any Secured Party of any payment relating thereto, nor shall any Secured Party be obligated in any manner to perform any obligation of any Grantor under or pursuant to any agreement giving rise to an account or a payment in respect of a general
intangible, to make any payment, to make any inquiry as to the nature or the sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce
any performance or to collect the payment of any amounts that may have been assigned to it or to which it may be entitled at any time or times. 
  

					
		  	21	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 6.3 Pledged Collateral. (a) Voting Rights. During the continuance
of an Event of Default, upon notice by the Collateral Agent to the relevant Grantor or Grantors, the Collateral Agent or its nominee may exercise (A) any voting, consent, corporate and other right pertaining to the Pledged Collateral at
any meeting of shareholders, partners or members, as the case may be, of the relevant issuer or issuers of Pledged Collateral or otherwise and (B) any right of conversion, exchange and subscription and any other right, privilege or option
pertaining to the Pledged Collateral as if it were the absolute owner thereof (including the right to exchange at its discretion any Pledged Collateral upon the merger, amalgamation, consolidation, reorganization, recapitalization or other
fundamental change in the corporate or equivalent structure of any issuer of Pledged Stock, the right to deposit and deliver any Pledged Collateral with any committee, depositary, transfer agent, registrar or other designated agency upon such terms
and conditions as the Collateral Agent may determine), all without liability except to account for property actually received by it; provided, however, that the Collateral Agent shall have no duty to any Grantor to exercise any such
right, privilege or option and shall not be responsible for any failure to do so or delay in so doing. 
 (b) Proxies. In order to
permit the Collateral Agent to exercise the voting and other consensual rights that it may be entitled to exercise pursuant hereto and to receive all dividends and other distributions that it may be entitled to receive hereunder, (i) each
Grantor shall promptly execute and deliver (or cause to be executed and delivered) to the Collateral Agent all such proxies, dividend payment orders and other instruments as the Collateral Agent may from time to time reasonably request and
(ii) without limiting the effect of clause (i) above, such Grantor hereby grants to the Collateral Agent an irrevocable proxy to vote all or any part of the Pledged Collateral and to exercise all other rights, powers, privileges and
remedies to which a holder of the Pledged Collateral would be entitled (including giving or withholding written consents of shareholders, partners or members, as the case may be, calling special meetings of shareholders, partners or members, as the
case may be, and voting at such meetings), which proxy shall be effective, automatically and without the necessity of any action (including any transfer of any Pledged Collateral on the record books of the issuer thereof) by any other person
(including the issuer of such Pledged Collateral or any officer or agent thereof) during the continuance of an Event of Default and which proxy shall only terminate upon the payment in full of the Secured Obligations. 
 (c) Authorization of Issuers. Each Grantor hereby expressly irrevocably authorizes and instructs, without any further instructions from such
Grantor, each issuer of any Pledged Collateral pledged hereunder by such Grantor to (i) comply with any instruction received by it from the Collateral Agent in writing that states that an Event of Default is continuing and is otherwise in
accordance with the terms of this Agreement and each Grantor agrees that such issuer shall be fully protected from Liabilities to such Grantor in so complying and (ii) unless otherwise expressly permitted hereby, pay any dividend or make any
other payment with respect to the Pledged Collateral directly to the Collateral Agent. 
 Section 6.4 Proceeds to be Turned
over to and Held by Collateral Agent. Unless otherwise expressly provided in the Credit Agreement, the Intercreditor Agreement or this Security Agreement, all proceeds of any Collateral received by any Grantor hereunder in cash or Cash
Equivalents shall be held by such Grantor in trust for the Collateral Agent and the other Secured Parties, segregated from other funds of such Grantor, and shall, promptly upon receipt by any Grantor, be turned over to the Collateral Agent in the
exact form received (with any necessary endorsement). All such proceeds of Collateral and any other proceeds of any Collateral 

  

					
		  	22	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
received by the Collateral Agent in cash or Cash Equivalents shall be held by the Collateral Agent in a Cash Collateral Account. All proceeds being held by
the Collateral Agent in a Security Cash Collateral Account (or by such Grantor in trust for the Collateral Agent) shall continue to be held as collateral security for the Secured Obligations and shall not constitute payment thereof until applied as
provided in the Intercreditor Agreement and the Credit Agreement. 
 Section 6.5 Registration Rights. (a) If, in the
opinion of the Collateral Agent, it is necessary or advisable to Sell any portion of the Pledged Collateral by registering such Pledged Collateral under the provisions of the Securities Act of 1933 (the “Securities Act”), each
relevant Grantor shall cause the issuer thereof to do or cause to be done all acts as may be, in the opinion of the Collateral Agent, necessary or advisable to register such Pledged Collateral or that portion thereof to be Sold under the provisions
of the Securities Act, all as directed by the Collateral Agent in conformity with the requirements of the Securities Act and the rules and regulations of the Securities and Exchange Commission applicable thereto and in compliance with the securities
or “Blue Sky” laws of any jurisdiction that the Collateral Agent shall designate. 
 (b) Each Grantor recognizes that the
Collateral Agent may be unable to effect a public sale of any Pledged Collateral by reason of certain prohibitions contained in the Securities Act and applicable state or foreign securities laws or otherwise or may determine that a public sale is
impracticable, not desirable or not commercially reasonable and, accordingly, may resort to one or more private sales thereof to a restricted group of purchasers that shall be obliged to agree, among other things, to acquire such securities for
their own account for investment and not with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that any such private sale may result in prices and other terms less favorable than if such sale were a public sale and,
notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. The Collateral Agent shall be under no obligation to delay a sale of any Pledged Collateral for the period
of time necessary to permit the issuer thereof to register such securities for public sale under the Securities Act or under applicable state securities laws even if such issuer would agree to do so. 
 (c) Each Grantor agrees to use its best efforts to do or cause to be done all such other acts as may be necessary to make such sale or sales of any
portion of the Pledged Collateral pursuant to this Section 6.5 valid and binding and in compliance with all applicable Requirements of Law. Each Grantor further agrees that a breach of any covenant contained in this
Section 6.5 will cause irreparable injury to the Collateral Agent and other Secured Parties, that the Collateral Agent and the other Secured Parties have no adequate remedy at law in respect of such breach and, as a consequence, that
each and every covenant contained in this Section 6.5 shall be specifically enforceable against such Grantor, and such Grantor hereby waives and agrees not to assert any defense against an action for specific performance of such
covenants except for a defense that no Event of Default has occurred under the Credit Agreement. 
 Section 6.6
Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of any Collateral are insufficient to pay the Secured Obligations and the fees and disbursements of any attorney employed by the
Collateral Agent or any other Secured Party to collect such deficiency. 
  

					
		  	23	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 ARTICLE VII 
 THE COLLATERAL AGENT 
 Section 7.1 Collateral Agent’s Appointment as
Attorney-in-Fact. (a) Each Grantor hereby irrevocably constitutes and appoints the Collateral Agent and any Related Person thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and
authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out the terms of the Loan Documents, to take any appropriate action and to execute any document or instrument that may
be necessary or desirable to accomplish the purposes of the Loan Documents, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent and its Related Persons the power and right, on behalf of such Grantor,
without notice to or assent by such Grantor, to do any of the following when an Event of Default shall be continuing: 
 (i)
in the name of such Grantor, in its own name or otherwise, take possession of and indorse and collect any check, draft, note, acceptance or other instrument for the payment of moneys due under any account or general intangible or with respect to any
other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by the Collateral Agent for the purpose of collecting any such moneys due under any account or general
intangible or with respect to any other Collateral whenever payable; 
 (ii) in the case of any Intellectual Property owned by
or licensed to the Grantors, execute, deliver and have recorded any document that the Collateral Agent may request to evidence, effect, publicize or record the Collateral Agent’s security interest in such Intellectual Property and the goodwill
and general intangibles of such Grantor relating thereto or represented thereby; 
 (iii) pay or discharge taxes and Liens
levied or placed on or threatened against any Collateral, effect any repair or pay any insurance called for by the terms of the Credit Agreement (including all or any part of the premiums therefor and the costs thereof); 
 (iv) execute, in connection with any sale provided for in Section 6.1 or Section 6.5, any document to effect or
otherwise necessary or appropriate in relation to evidence the Sale of any Collateral; or 
 (v) (A) direct any party liable
for any payment under any Collateral to make payment of any moneys due or to become due thereunder directly to the Collateral Agent or as the Collateral Agent shall direct, (B) ask or demand for, and collect and receive payment of and receipt
for, any moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral, (C) sign and indorse any invoice, freight or express bill, bill of lading, storage or warehouse receipt, draft against
debtors, assignment, verification, notice and other document in connection with any Collateral, (D) commence and prosecute any suit, action or proceeding at law or in equity in any court of competent jurisdiction to collect any Collateral and
to enforce any other right in respect of any Collateral, (E) defend any actions, suits, proceedings, audits, claims, demands, orders or disputes brought against such Grantor with respect to any Collateral, (F) settle, compromise or adjust
any such actions, suits, proceedings, audits, claims, 

  

					
		  	24	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
demands, orders or disputes and, in connection therewith, give such discharges or releases as the Collateral Agent may deem appropriate, (G) assign any
Intellectual Property owned by the Grantors or any IP Licenses of the Grantors throughout the world on such terms and conditions and in such manner as the Collateral Agent shall in its sole discretion determine, including the execution and filing of
any document necessary to effectuate or record such assignment and (H) generally, Sell, grant a Lien on, make any Contractual Obligation with respect to and otherwise deal with, any Collateral as fully and completely as though the Collateral
Agent were the absolute owner thereof for all purposes and do, at the Collateral Agent’s option, at any time or from time to time, all acts and things that the Collateral Agent deems necessary to protect, preserve or realize upon any Collateral
and the Secured Parties’ security interests therein and to effect the intent of the Loan Documents, all as fully and effectively as such Grantor might do. 
 (b) If any Grantor fails to perform or comply with any Contractual Obligation contained herein, the Collateral Agent, at its option, but without any obligation so to do, may perform or comply, or otherwise cause
performance or compliance, with such Contractual Obligation. 
 (c) The expenses of the Collateral Agent incurred in connection with actions
undertaken as provided in this Section 7.1, together with interest thereon at a rate set forth in Section 2.9 (Interest) of the Credit Agreement, from the date of payment by the Collateral Agent to the date reimbursed
by the relevant Grantor, shall be payable by such Grantor to the Collateral Agent on demand. 
 (d) Each Grantor hereby ratifies all that
said attorneys shall lawfully do or cause to be done by virtue of this Section 7.1. All powers, authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated
and the security interests created hereby are released. 
 Section 7.2 Authorization to File Financing Statements. Each
Grantor authorizes the Collateral Agent and its Related Persons, at any time and from time to time, to file or record financing statements, amendments thereto, and other filing or recording documents or instruments with respect to any Collateral in
such form and in such offices as the Collateral Agent reasonably determines appropriate to perfect the security interests of the Collateral Agent under this Agreement, and such financing statements and amendments may described the Collateral covered
thereby as “all assets of the debtor whether now owned or hereafter acquired”. A photographic or other reproduction of this Agreement shall be sufficient as a financing statement or other filing or recording document or instrument
for filing or recording in any jurisdiction. Such Grantor also hereby ratifies its authorization for the Collateral Agent to have filed any initial financing statement or amendment thereto under the UCC (or other similar laws) in effect in any
jurisdiction if filed prior to the date hereof. 
 Section 7.3 Authority of Collateral Agent. Each Grantor acknowledges
that the rights and responsibilities of the Collateral Agent under this Agreement with respect to any action taken by the Collateral Agent or the exercise or non-exercise by the Collateral Agent of any option, voting right, request, judgment or
other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Collateral Agent and the other Secured Parties, be governed by the Credit Agreement, the Intercreditor Agreement and by such other
agreements with respect thereto as may exist from time to time among them, but, as between the Collateral Agent and the Grantors, the Collateral Agent shall be conclusively presumed to be 

  

					
		  	25	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
acting as agent for the Secured Parties with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation or
entitlement to make any inquiry respecting such authority. 
 Section 7.4 Duty; Obligations and Liabilities.
(a) Duty of Collateral Agent. The Collateral Agent’s sole duty with respect to the custody, safekeeping and physical preservation of the Collateral in its possession shall be to deal with it in the same manner as the Collateral
Agent deals with similar property for its own account. The powers conferred on the Collateral Agent hereunder are solely to protect the Collateral Agent’s interest in the Collateral and shall not impose any duty upon the Collateral Agent to
exercise any such powers. The Collateral Agent shall be accountable only for amounts that it receives as a result of the exercise of such powers, and neither it nor any of its Related Persons shall be responsible to any Grantor for any act or
failure to act hereunder, except for their own gross negligence or willful misconduct as finally determined by a court of competent jurisdiction. In addition, the Collateral Agent shall not be liable or responsible for any loss or damage to any
Collateral, or for any diminution in the value thereof, by reason of the act or omission of any warehousemen, carrier, forwarding agency, consignee or other bailee if such Person has been selected by the Collateral Agent in good faith. 

(a) Obligations and Liabilities with respect to Collateral. No Secured Party and no Related Person thereof shall be liable for failure to
demand, collect or realize upon any Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever
with regard to any Collateral. The powers conferred on the Collateral Agent hereunder shall not impose any duty upon any other Secured Party to exercise any such powers. The other Secured Parties shall be accountable only for amounts that they
actually receive as a result of the exercise of such powers, and neither they nor any of their respective officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own
gross negligence or willful misconduct as finally determined by a court of competent jurisdiction. 
 ARTICLE VIII 
 MISCELLANEOUS 
 Section 8.1
Reinstatement. Each Grantor agrees that, if any payment made by any Loan Party or other Person and applied to the Secured Obligations is at any time annulled, avoided, set aside, rescinded, invalidated, declared to be fraudulent or
preferential or otherwise required to be refunded or repaid, or the proceeds of any Collateral are required to be returned by any Secured Party to such Loan Party, its estate, trustee, receiver or any other party, including any Grantor, under any
bankruptcy law, state or federal law, common law or equitable cause, then, to the extent of such payment or repayment, any Lien or other Collateral securing such liability shall be and remain in full force and effect, as fully as if such payment had
never been made. If, prior to any of the foregoing, (a) any Lien or other Collateral securing such Grantor’s liability hereunder shall have been released or terminated by virtue of the foregoing or (b) any provision of the Guaranty
hereunder shall have been terminated, cancelled or surrendered, such Lien, other Collateral or provision shall be reinstated in full force and effect and such prior release, termination, cancellation or surrender shall not diminish, release,
discharge, impair or otherwise affect the obligations of any such Grantor in respect of any Lien or other Collateral securing such obligation or the amount of such payment. 
  

					
		  	26	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 8.2 Release of Collateral. (a) At the time provided in
clause (b)(iii) of Section 10.10 (Release of Collateral or Guarantors) of each Credit Agreement, the Collateral shall be released from the Lien created hereby and this Agreement and all obligations (other than those
expressly stated to survive such termination) of the Collateral Agent and each Grantor hereunder 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. Each Grantor is hereby authorized to file UCC amendments and releases for recordation in the Applicable IP Office at such time evidencing the termination of the Liens so released. At the request of any Grantor following any such
termination, the Collateral Agent shall deliver to such Grantor any Collateral of such Grantor held by the Collateral Agent hereunder and execute and deliver to such Grantor such documents as such Grantor shall reasonably request to evidence such
termination. 
 (b) If the Collateral Agent shall be directed or permitted pursuant to clause (i) or (ii) of
Section 10.10(b) of the First Lien Credit Agreement to release any Lien or any Collateral, such Collateral shall be released from the Lien created hereby to the extent provided under, and subject to the terms and conditions set forth in,
such clauses (i) and (ii) and the Intercreditor Agreement. In connection therewith, the Collateral Agent, at the request of any Grantor, shall execute and deliver to such Grantor such documents as such Grantor shall
reasonably request to evidence such release. 
 (c) At the time provided in Section 10.10(a) of the First Lien Credit Agreement
and at the request of the Borrower, a Grantor shall be released from its obligations hereunder, subject to the terms and conditions set forth in, such Section 10.10(a) and the Intercreditor Agreement, in the event that all the Securities of
such Grantor shall be Sold to any Person that is not an Affiliate of Holdings, the Borrower and the Subsidiaries of the Borrower in a transaction permitted by the Loan Documents. 
 Section 8.3 Independent Obligations. The obligations of each Grantor hereunder are independent of and separate from the Secured
Obligations and the Guaranteed Obligations. If any Secured Obligation or Guaranteed Obligation is not paid when due, or upon any Event of Default, the Collateral Agent may, at its sole election, proceed directly and at once, without notice, against
any Grantor and any Collateral to collect and recover the full amount of any Secured Obligation or Guaranteed Obligation then due, without first proceeding against any other Grantor, any other Loan Party or any other Collateral and without first
joining any other Grantor or any other Loan Party in any proceeding. 
 Section 8.4 No Waiver by Course of Conduct. No
Secured Party shall by any act (except by a written instrument pursuant to Section 8.6), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Default or Event of
Default. No failure to exercise, nor any delay in exercising, on the part of any Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall
preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by any Secured Party of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy that
such Secured Party would otherwise have on any future occasion. 
 Section 8.5 Amendments in Writing. None of the terms or
provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with the Intercreditor Agreement and the Credit Agreements; provided, however, that schedules to this agreement may be
supplemented to the extent required under this Agreement and annexes 

  

					
		  	27	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 
to this Agreement may be supplemented (but no existing provisions may be modified and no Collateral may be released) through Pledge Amendments and Joinder
Agreements, in substantially the form of Annex 1 and Annex 2, respectively, in each case duly executed by the Collateral Agent and each Grantor directly affected thereby. 
 Section 8.6 Additional Grantors; Additional Pledged Collateral. (a) Joinder Agreements. If, at the option of the Borrower
or as required pursuant to Section 7.10 of the Credit Agreement, the Borrower shall cause any Subsidiary that is not a Grantor to become a Grantor hereunder, such Subsidiary shall execute and deliver to the Collateral Agent a Joinder
Agreement substantially in the form of Annex 2 and shall thereafter for all purposes be a party hereto and have the same rights, benefits and obligations as a Grantor party hereto on the Closing Date. 
 (b) Pledge Amendments. To the extent any Pledged Collateral has not been delivered as of the Closing Date, such Grantor shall deliver a pledge
amendment duly executed by the Grantor in substantially the form of Annex 1 (each, a “Pledge Amendment”). Such Grantor authorizes the Collateral Agent to attach each Pledge Amendment to this Agreement. 
 Section 8.7 Notices. All notices, requests and demands to or upon (i) the Collateral Agent, the First Lien Agent or any Grantor
hereunder shall be effected in the manner provided for in Section 11.11 of the First Lien Credit Agreement or (ii) the Second Lien Agent (or, after payment in full of the First Lien Obligations, any Grantor) shall be effected in the
manner provided for in Section 11.11 of the Second Lien Credit Agreement; provided, however, that any such notice, request or demand to or upon any Grantor shall be addressed to the Borrower’s notice address set forth
in such Sections 11.11. 
 Section 8.8 Successors and Assigns. This Agreement shall be binding upon the successors
and assigns of each Grantor and shall inure to the benefit of each Secured Party and their successors and assigns; provided, however, that no Grantor may assign, transfer or delegate any of its rights or obligations under this
Agreement without the prior written consent of the Collateral Agent. 
 Section 8.9 Counterparts. This Agreement may be
executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages
may be detached from multiple separate counterparts and attached to a single counterpart. Delivery of an executed signature page of this Agreement by facsimile transmission or by Electronic Transmission shall be as effective as delivery of a
manually executed counterpart hereof. 
 Section 8.10 Severability. Any provision of this Agreement being held illegal,
invalid or unenforceable in any jurisdiction shall not affect any part of such provision not held illegal, invalid or unenforceable, any other provision of this Agreement or any part of such provision in any other jurisdiction. 
 Section 8.11 Governing Law. This Agreement and the rights and obligations of the parties hereto shall be governed by, and construed
and interpreted in accordance with, the law of the State of New York. 
  

					
		  	28	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Section 8.12 Waiver of Jury Trial. Each party hereto hereby irrevocably waives trial
by jury in any suit, action or proceeding with respect to, or directly or indirectly arising out of, under or in connection with, any loan document or the transactions contemplated therein or related thereto (whether founded in contract, tort or any
other theory). Each party hereto (A) certifies that no other party and no Related Person of any other party has represented, expressly or otherwise, that such other party would not, in the event of litigation, seek to enforce the foregoing
waiver and (B) acknowledges that it and the other parties hereto have been induced to enter into this agreement by the mutual waivers and certifications in this Section 8.12. 
 Section 8.13 Submission to Jurisdiction. Any legal action or proceeding with respect to this Agreement may be brought in the courts of
the State of New York located in the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York and, by execution and delivery of this Agreement, each Grantor hereby accepts for itself and in
respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereto hereby irrevocably waive any objection, including any objection to the laying of venue or based on the grounds of forum non
conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in such jurisdictions. 
 Section 8.14 Entire Agreement. This Agreement together with the other Loan Documents represents the entire agreement of the parties and supersedes all prior agreements and understandings relating to the subject matter
hereof. This Agreement and each other Loan Document 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 Intercreditor Agreement, this Agreement or any other
Loan Document with regard to the authority of the Collateral Agent on behalf of the Secured Parties or otherwise, the terms of the Intercreditor Agreement shall govern. 
 [SIGNATURE PAGES FOLLOW] 
  

					
		  	29	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 IN WITNESS WHEREOF, each of the undersigned has caused this Guaranty and Security Agreement to be duly
executed and delivered as of the date first above written. 
  

			
	DANKA OFFICE IMAGING COMPANY
		 	as a Grantor
		
	 By:
	 	  

	Name:	 	
	Title:	 	
	
	DANKA HOLDING COMPANY
		 	as a Grantor
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 [SIGNATURE PAGE TO GUARANTY AND SECURITY AGREEMENT] 

			
	 ACCEPTED AND AGREED
 as of the date first above written:

	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as First Lien Collateral Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as Second Lien Collateral Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 [SIGNATURE PAGE TO GUARANTY AND SECURITY AGREEMENT] 

 ANNEX 1 
 TO 
 GUARANTY AND SECURITY AGREEMENT1 
 FORM OF PLEDGE
AMENDMENT 
 This PLEDGE AMENDMENT, dated as of
                     , 20    , is delivered pursuant to Section 8.6 of the Guaranty and Security
Agreement, dated as of June 25, 2007, by Danka Office Imaging Company (the “Borrower”), the other Grantors from time to time party thereto in favor of General Electric Capital Corporation, as Collateral Agent for the Secured
Parties referred to therein (the “Guaranty and Security Agreement”). Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement. 
 The undersigned hereby agrees that this Pledge Amendment may be attached to the Guaranty and Security Agreement and that the Pledged Collateral listed on
Annex 1-A to this Pledge Amendment shall be and become part of the Collateral referred to in the Guaranty and Security Agreement and shall secure all Obligations of the undersigned. 
 The undersigned hereby represents and warrants that each of the representations and warranties contained in Sections 4.1, 4.2, 4.5
and 4.10 of the Guaranty and Security Agreement is true and correct and as of the date hereof as if made on and as of such date. 
  

			
	 [GRANTOR]

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 To be used for pledge of Additional Pledged Collateral by existing Grantor. 
  

					
		  	A1-1	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 Annex 1-A 
 PLEDGED STOCK 
  

									
	 ISSUER
	  	CLASS	  	CERTIFICATE NO(S).	  	PAR VALUE	  	NUMBER OF
SHARES,
UNITS OR
INTERESTS

 PLEDGED DEBT INSTRUMENTS 
  

									
	 ISSUER
	  	DESCRIPTION OF DEBT	  	CERTIFICATE NO(S).	  	FINAL MATURITY	  	PRINCIPAL
AMOUNT

  

					
		  	A1-2	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

			
	 ACKNOWLEDGED AND AGREED
 as of the date first above written:

	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as First Lien Collateral Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as Second Lien Collateral Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

					
		  	A1-3	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 ANNEX 2 
 TO 
 GUARANTY AND SECURITY AGREEMENT 
 FORM OF JOINDER AGREEMENT 
 This JOINDER AGREEMENT, dated as of
                     , 20    , is delivered pursuant to Section 8.6 of the Guaranty and Security
Agreement, dated as of June 25, 2007, by Danka Office Imaging Company (the “Borrower”) and the other Grantors from time to time party thereto in favor of the General Electric Capital Corporation, as Collateral Agent for the
Secured Parties referred to therein (the “Guaranty and Security Agreement”). Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement. 
 By executing and delivering this Joinder Agreement, the undersigned, as provided in Section 8.6 of the Guaranty and Security Agreement,
hereby becomes a party to the Guaranty and Security Agreement as a Grantor thereunder with the same force and effect as if originally named as a Grantor therein and, without limiting the generality of the foregoing, (i) as collateral security
for the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of the First Lien Secured Obligations of the undersigned, hereby mortgages, pledges and hypothecates to the First Lien Collateral
Agent for the benefit of the First Lien Secured Parties, and grants to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties a lien on and security interest in, all of its right, title and interest in, to and under the
Collateral of the undersigned and expressly assumes all obligations and liabilities of a Grantor thereunder and (ii) as collateral security for the prompt and complete payment and performance when due (whether at stated maturity, by
acceleration or otherwise) of the Second Lien Secured Obligations of the undersigned, hereby mortgages, pledges and hypothecates to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties, and grants to the Second Lien
Collateral Agent for the benefit of the Second Lien Secured Parties a lien on and security interest in, all of its right, title and interest in, to and under the Collateral of the undersigned and expressly assumes all obligations and liabilities of
a Grantor thereunder. The undersigned hereby agrees to be bound as a Grantor for the purposes of the Guaranty and Security Agreement. 
 The
information set forth in Annex 1-A is hereby added to the information set forth in Schedules 1 through 6 to the Guaranty and Security Agreement. By acknowledging and agreeing to this Joinder Agreement, the undersigned
hereby agree that this Joinder Agreement may be attached to the Guaranty and Security Agreement and that the Pledged Collateral listed on Annex 1-A to this Joinder Amendment shall be and become part of the Collateral referred to in the
Guaranty and Security Agreement and shall secure all Secured Obligations of the undersigned. 
 The undersigned hereby represents and
warrants that each of the representations and warranties contained in Article IV of the Guaranty and Security Agreement applicable to it is true and correct on and as the date hereof as if made on and as of such date. 
 IN WITNESS WHEREOF, the undersigned has caused this Joinder Agreement to be duly executed and delivered as of the date first above written. 

 

			
	 [ADDITIONAL GRANTOR]

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

					
		  	A2-1	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

			
	 ACKNOWLEDGED AND AGREED
 as of the date first
above written:

	
	 [EACH GRANTOR PLEDGING
 ADDITIONAL COLLATERAL]

		
	 By:
	 	  

	Name:	 	
	Title:	 	
	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as First Lien Collateral Agent

		
	 By:
	 	  

	Name:	 	
	Title:	 	
	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as Second Lien Collateral Agent

		
	 By:
	 	  

	Name:	 	
	Title:	 	

  

					
		  	A2-3	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

 ANNEX 3 
 TO 
 GUARANTY AND SECURITY AGREEMENT 
 FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT 
 THIS [COPYRIGHT] [PATENT]
[TRADEMARK] SECURITY AGREEMENT, dated as of                      , 20    , is made by each of the entities
listed on the signature pages hereof (each a “Grantor” and, collectively, the “Grantors”), in favor of General Electric Capital Corporation (“GE Capital”), as First Lien Collateral Agent and as
Second Lien Collateral Agent (each as defined in the Guaranty and Security Agreement, dated as of June 25, 2007 (the “Guaranty and Security Agreement”), among Danka Office Imaging Company (the “Borrower”), Danka
Holding Company (“Holdings”), the other grantors from time to time party thereto and GE Capital, as First Lien Collateral Agent and as Second Lien Collateral Agent). 
 W I T N E S S E T H: 
 WHEREAS, pursuant to the First Lien Credit Agreement dated as of
June 18, 2007 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “First Lien Credit Agreement”) among the Borrower, Holdings, the Lenders and the L/C Issuers from time to time party
thereto (collectively, the “First Lien Lenders”) and GE Capital, as administrative agent (in such capacity, the “First Lien Administrative Agent”) and as First Lien Collateral Agent, the First Lien Lenders have
severally agreed to make extensions of credit to the Borrower upon the terms and subject to the conditions set forth therein; 
 WHEREAS,
pursuant to the Second Lien Credit Agreement dated as of June 18, 2007 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Second Lien Credit Agreement” and, together with the First Lien
Credit Agreement, collectively, the “Credit Agreements”) among the Borrower, Holdings, the Lenders from time to time party thereto (the “Second Lien Lenders”), and GE Capital, as administrative agent (in such
capacity, the “Second Lien Administrative Agent” and, together with the First Lien Administrative Agent, collectively, the “Administrative Agents”) and as Second Lien Collateral Agent, the Second Lien Lenders have
severally agreed to make extensions of credit to the Borrower upon the terms and subject to the conditions set forth therein; 
 WHEREAS,
each Grantor (other than the Borrower) has agreed, pursuant to the Guaranty and Security Agreement, to guarantee the Guaranteed Obligations (as defined in the Guaranty and Collateral Agreement); and 
 WHEREAS, all of the Grantors are party to the Guaranty and Security Agreement pursuant to which the Grantors are required to execute and deliver this
[Copyright] [Patent] [Trademark] Security Agreement; 
 NOW, THEREFORE, in consideration of the premises and to induce the First Lien
Lenders, the Second Lien Lenders, the Administrative Agents and the Collateral Agent to enter into the Credit Agreements and to induce the First Lien Lenders and the Second Lien Lenders to make their respective extensions of credit to the Borrower
under their respective Credit Agreements, each Grantor hereby agrees with the Collateral Agent as follows: 
 Section 1.
Defined Terms. Capitalized terms used herein without definition are used as defined in the Guaranty and Security Agreement. Grant of Security Interest in [Copyright] [Trademark] [Patent] Collateral. Each Grantor, as collateral security
for the full, prompt and complete payment and performance when due (whether at stated maturity, by 
  

 A3-1 

 
acceleration or otherwise) of (i) the First Lien Secured Obligations of such Grantor, hereby mortgages, pledges and hypothecates to the First Lien
Collateral Agent for the benefit of the First Lien Secured Parties, and grants to the First Lien Collateral Agent for the benefit of the First Lien Secured Parties a Lien on and security interest in, all of its right, title and interest in, to and
under the Trademark Collateral (as defined below) and (ii) the Second Lien Secured Obligations of such Grantor, hereby mortgages, pledges and hypothecates to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties,
and grants to the Second Lien Collateral Agent for the benefit of the Second Lien Secured Parties a Lien on and security interest in, all of its right, title and interest in, to and under the following Collateral of such Grantor (the
“Trademark Collateral”): 
 (a) [all of its Copyrights and all IP Licenses providing for the exclusive grant to such Grantor
of any right under any Copyright, including, without limitation, those referred to on Schedule 1 hereto; 
 (b) all renewals,
reversions and extensions of the foregoing; and 
 (c) all income, royalties, proceeds and Liabilities at any time due or payable or asserted
under and with respect to any of the foregoing, including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation, dilution, violation or other impairment thereof.]

 or 
 (d) [all of its Patents
and all IP Licenses providing for the exclusive grant to such Grantor of any right under any Patent, including, without limitation, those referred to on Schedule 1 hereto; 
 (e) all reissues, reexaminations, continuations, continuations-in-part, divisionals, renewals and extensions of the foregoing; and 
 (f) all income, royalties, proceeds and Liabilities at any time due or payable or asserted under and with respect to any of the foregoing, including,
without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation, dilution, violation or other impairment thereof.] 
 or 
 (g) [all of its Trademarks and all IP Licenses providing for the exclusive grant
to such Grantor of any right under any Trademark, including, without limitation, those referred to on Schedule 1 hereto; 
 (h)
all renewals and extensions of the foregoing; 
 (i) all goodwill of the business connected with the use of, and symbolized by, each such
Trademark; and 
 (j) all income, royalties, proceeds and Liabilities at any time due or payable or asserted under and with respect to any of
the foregoing, including, without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation, dilution, violation or other impairment thereof.] 
  

 A3-2 

 provided, however, that “[Copyright] [Patent] [Trademark] Collateral” shall not include
any Excluded Property (including any “intent to use” Trademark applications for which a statement of use has not been filed (but only until such statement is filed)). 
 Section 2. Guaranty and Security Agreement. The security interest granted pursuant to this [Copyright] [Patent] [Trademark] Security
Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Guaranty and Security Agreement and each Grantor hereby acknowledges and agrees that the rights and remedies of the Collateral Agent with
respect to the security interest in the [Copyright] [Patent] [Trademark] Collateral made and granted hereby are more fully set forth in the Guaranty and Security Agreement, the terms and provisions of which are incorporated by reference herein as if
fully set forth herein. 
 Section 3. Grantor Remains Liable. Each Grantor hereby agrees that, anything herein to the
contrary notwithstanding, such Grantor shall assume full and complete responsibility for the prosecution, defense, enforcement or any other necessary or desirable actions in connection with their [Copyrights] [Patents] [Trademarks] and IP Licenses
subject to a security interest hereunder. 
 Section 4. Counterparts. This [Copyright] [Patent] [Trademark] Security
Agreement may be executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.
Signature pages may be detached from multiple separate counterparts and attached to a single counterpart. 
 Section 5.
Governing Law. This [Copyright] [Patent] [Trademark] Security Agreement and the rights and obligations of the parties hereto shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. 

Section 6. Submission to Jurisdiction. Any legal action or proceeding with respect to this Agreement may be brought in the courts
of the State of New York located in the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York and, by execution and delivery of this Agreement, each Grantor hereby accepts for itself and in
respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. The parties hereto hereby irrevocably waive any objection, including any objection to the laying of venue or based on the grounds of forum non
conveniens, that any of them may now or hereafter have to the bringing of any such action or proceeding in such jurisdictions. 
 [SIGNATURE
PAGES FOLLOW] 
  

 A3-3 

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

			
	 Very truly yours,

	
	 [GRANTOR]
as Grantor

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	 ACCEPTED AND AGREED
 as of the date first above written:

	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as First Lien Collateral Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 ACCEPTED AND AGREED
as of the date first above written:

	
	 GENERAL ELECTRIC CAPITAL CORPORATION
as Second Lien Collateral Agent

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

 [SIGNATURE PAGE TO [COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT] 
  

 A3-4 

 ACKNOWLEDGMENT OF GRANTOR 
 STATE OF                                 )

                                        
             ) ss. 
 COUNTY OF
                            ) 
 On this          day of
                    , 20     before me personally appeared
                                        
                    , proved to me on the basis of satisfactory evidence to be the person who executed the foregoing instrument on behalf of
                                        ,
who being by me duly sworn did depose and say that he is an authorized officer of said corporation, that the said instrument was signed on behalf of said corporation as authorized by its Board of Directors and that he acknowledged said instrument to
be the free act and deed of said corporation. 
  
  

 Notary Public 
 [ACKNOWLEDGEMENT OF GRANTOR FOR
[COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT] 
  

 A3-5 

 SCHEDULE I 
 TO 
 [COPYRIGHT] [PATENT] [TRADEMARK] SECURITY AGREEMENT 
 [Copyright] [Patent] [Trademark] Registrations 
  

	A.	REGISTERED [COPYRIGHTS] [PATENTS] [TRADEMARKS] 

 [Include
Registration Number and Date] 
  

	B.	[COPYRIGHT] [PATENT] [TRADEMARK] APPLICATIONS 

 [Include
Application Number and Date] 
  

	C.	IP LICENSES 

 [Include complete legal description of
agreement (name of agreement, parties and date)] 
  

					
		  	A3-I	  	 GUARANTY AND SECURITY AGREEMENT
 DANKA OFFICE IMAGING COMPANY

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]